I know this may seem like a silly question, but I need a credit card as a second form of ID to open an account at a video store. I also need a credit card to create an account with Microsoft Office Live (they need it to confirm my identity, I read all of the terms of use).
So my question is, if I apply and get approved for a credit card, once I receive it, am I obligated to make a purchase with it or can I simply just use it for the purposes stated above?
Is there a fee for receiving a credit card?
All information and sources are appriciated.
2007-09-16 13:21:42 · 14 answers · asked by Emily ♥ 2 in Business & Finance ➔ Credit
Any suggestions on what card I should get? Links?
2007-09-16 13:27:49 · update #1
no purchase needed , probably fees...
2007-09-16 13:24:39 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Get a major credit card that does not have an annual fee. While you are not required to use the card, the credit card company will close your account if you don't use it -- probably in the 9 months to one year range.
Use the card occassionally for small purchases and pay if off at the end of the month. That will keep the card active, plus add to your credit history.
2007-09-16 13:42:10 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
No, you are not required to make a purchase if you are approved for a credit card, but you may find your account closed (or inactivated) if you have no activity for a long period of time.
Many, many credit cards do not have fees of any kind, but some have flat annual fees and some may have other fees, so you should check the specifics for the card for which you are applying.
2007-09-16 13:24:56 · answer #3 · answered by mia 3 · 0⤊ 0⤋
You will be obligated to the 'terms and conditions' of the credit card agreement.
It is very important that you read this part of the credit card contract.
Do not assume that all credit cards are the same. You might get hit with fees that are in the agreement that you sign and you will not be able to argue or dispute them away.
Also consider saving $50 to $100 weekly in a good high interest savings account or Money Market account.
God Bless.
Carlos Cruz
2007-09-16 13:40:04 · answer #4 · answered by Anonymous · 0⤊ 1⤋
You do not have to use a credit card. Never pay for the honor of receiving credit card. We are doing them the favor by using (or not using) their card. Make sure the card you pick does not have an annnual fee. Check the link to compare cards.
-MM
2007-09-16 13:31:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋
look at the terms of the agreement. you certainly are not abligated to use the card, but most companies have an annual fee that you do have to pay to have the card.
keep the card so that you have something to build your credit. just don't over-indulge like most of us do, and ruin your credit by not paying in a timely manner. it is very good to have that credit, just watch your spending.
2007-09-16 13:27:04 · answer #6 · answered by king_tots 4 · 0⤊ 0⤋
If you have applied for a no fee credit card then there is no cost to you.
There is also no obligation on your part to buy ANYTHING with your credit card. Use it as you wish.
2007-09-16 13:25:07 · answer #7 · answered by Anonymous · 1⤊ 0⤋
Your not obligated but you will go out and charge something as soon as you get it.Its just something people do I done it when I got my first card about 20 years ago.Thats why I dont have any cards now paid them off and got rid of that headache
2007-09-16 13:27:43 · answer #8 · answered by slp9209 4 · 0⤊ 0⤋
You don't have to buy anything. But I would buy something every month to build your credit.
Buy something like a tank of gas or once a month charge a meal....pay it off on time and in full.
Believe it or not you'll start to build good credit!
2007-09-16 13:45:17 · answer #9 · answered by s487 2 · 0⤊ 0⤋
You will need to read the term of the card, but in most cases, you should not.
For a good source of credit card offers, please visit http://preferred.ecreditdirectory.com/
2007-09-19 09:25:49 · answer #10 · answered by SMD 2 · 0⤊ 0⤋
No you never have to buy anything. But you may get fees. You will have to read the fine print.
2007-09-16 13:28:07 · answer #11 · answered by blonde n love 2 · 1⤊ 0⤋