i really really don't want a cc because i know all the cons of getting one but i want a car really bad. is there any way to get credit w/o getting a cc and if i got one and didn't use it would i get credit?
2007-07-22 04:29:16 · 10 answers · asked by sakura 2 in Business & Finance ➔ Credit
no/yes
2007-07-22 04:33:59 · answer #1 · answered by skcs11 7 · 0⤊ 2⤋
No, you don't need a credit card to buy a car or house. You need credit, though. Unless you are paying cash, you will need to show a good credit score (600 to 850) to get the loan for a house or car.
To get credit, you can take a small loan with a bank (say $300). Take the money and put it into a savings account, and have them withdraw the payments from there.
For someone who want to build the best credit report, open a checking account with direct deposit, open a savings account, get the personal loan and repay it, then get 1 credit card (make small purchases and repay instantly), then wait for a couple of months. Your score should be about 720.
You can now get better interest rates for car loans and a house.
ON credit cards, if you do get one, make sure it doesn't have an annual fee.
2007-07-22 11:41:59 · answer #2 · answered by anderentag 3 · 0⤊ 0⤋
You wouldn't NEED a credit card to get a car or house. There is nothing inherently evil about credit cards, and it's a good idea to have ONE for emergencies and there are some things you need a credit card for. Just get one and don't use it or charge one little thing a month that you pay off every month and ON TIME EVERY TIME. As long as you pay it off every month, it doesn't matter what the interest rate is. But to answer your question, no you don't need a CC.
2007-07-22 11:40:06 · answer #3 · answered by The Scorpion 6 · 0⤊ 0⤋
You have to establish credit unless you intend to pay cash for everything. Banks want to see that you're a responsible person. Also, hotels, car rentals and many other businesses require a credit card.
If you obtain a credit card, put small amounts on it so you can pay it off when the bill comes in. This helps you establish and demonstrate good credit.
2007-07-22 11:35:00 · answer #4 · answered by hotchocolate 2 · 1⤊ 0⤋
You need to build your credit!
It's one of the best ways to build credit. You can start of by buying the goods you normally buy and setting the money aside when the bill gets here pay of the amount in full. Your credit gets better and you don't pay any interest. Control is the key buy only what you need and make sure you put the money aside.
2007-07-22 11:35:15 · answer #5 · answered by Anonymous · 0⤊ 0⤋
no you dont need a cc. you dont need a cc to rent a car or reserve a hotel room either. A debit card will work just fine.
As far as using one for a emergency. That's stupid. Save up an emergency fund.
Credit Cards are the financial worlds cigarette.
2007-07-22 12:37:40 · answer #6 · answered by heybulldog 5 · 0⤊ 0⤋
If you have no credit a credit card is the easiest way to build creidt. just do not use more than half of the credit line and make your payments on time.
you have to show payments to build your credit so you do have to use it .. so get a $500 credit card use $250 of it and pay it off within about 3 months. make another purchase of $250 and pay it off again within 3 months. this will build your credit fast it shows good credit management and resposibility
2007-07-22 11:39:12 · answer #7 · answered by backinblack90 2 · 0⤊ 0⤋
Skip the credit card. Buy a car first, because they practically throw them at you these days. You need a year on the job and that's about it. Making car payments will establish your credot so you can buy a house.
2007-07-22 11:33:18 · answer #8 · answered by nursesr4evr 7 · 1⤊ 0⤋
The only things that require a coventional credit card are renting a hotel room or car.
2007-07-22 17:15:51 · answer #9 · answered by Anonymous · 0⤊ 0⤋
to buy a car or a house, you do not need a credit card. However, you still able to buy either one, as long as you have enought money to pay back.
Good Luck!!!
2007-07-22 11:40:15 · answer #10 · answered by Anonymous · 0⤊ 0⤋