How do you pay for a credit card?

Question

I'm turning 18 and I'm getting a credit card so don't talk me out of it. I know how to manage my money so what is the process of getting and pay for say a discover student card?

I do not feel i know everything i DO feel however, that I am mature enough for a credit card. I am only getting one so that I may have some credit. It's not going to be the thing I use to buy everything I will ever need. And yes I have a savings acount with near $3,000.00 dollars in it that I've been saving for about a Year and a half. Thank you.

Answer 1

Lots of people argue that there should be no credit cards for students for the simple reason that they are not responsible enough and can land in huge credit card debt. This fact can be true to a certain extent but credit cards help the students tremendously during their student life. This article takes a look at essential things to keep in mind so as a student doesn't get bogged down by the credit card debt.

Build a habit of shopping around for things more so for student credit cards:

When you enter a college there are numerous credit card companies waiting to offer you a credit card. Look at each one of them, it might look as time consuming initially but it will save a for you over the college years. A student credit card with lowest APR and other fees will be suitable. Look for rewards that bring additional savings to you. Remember money saved is money earned.

Budget your expenses:

Making a budget is what everyone should learn in early life. The sooner this habit is imbibed, more rewarding the financial future becomes. Budget out your expenses, and eliminate the wastes. Being frugal is not good but being wise helps.

Stick to your budget:

There are temptations to spend more and there will always be. Getting lured into these temptations is a sure shot way to run into credit card debt. Remember every purchase that you make with a credit card is a loan and has to be repaid at the end of the month with interest. Read more from: http://www.credit-card-gallery.com/article/249,Student_credit_card_5_tips_to_stay_out_of_credit_card_debt_and_build_a_good_credit_history

Answer 2

Go to www.discovercard.com and fill out an online application for the type of card you want. You'll have no problem getting a card but I suggest you make sure that there are no annual fees and that you find the lowest interest rate possible. After they send you the card, you will receive statements via mail or online (whichever you request when filling out the credit card application) which will tell you how much is due and when it is due. Word of advice...only use the card for emergencies or make sure to pay off the balance at the end of every month, it will save you a world of hurt later.

Answer 3

You probably should figure that stuff out before you "decide" to get something. That's like saying, I'm buying a car, then I'll learn how to drive.

Do you have a bank account... checking account.

You very simply write out something call a "check", and mail it to the Discover people every month after then send you a statement telling you what you bought, and what you owe. The mail goes in white things called envelopes, and then into big blue things called mailboxes.

You also can set up online payments between your bank and your credit card.

I predict you max out your first card within a year, beg a relative to pay it off for you, lather, rinse and repeat until you are on here asking us how to declare bankruptcy. (just so you know, you can't anymore)

Answer 4

They will send you a monthly bill. There are several ways to pay it:

1. You can mail them a check. Do you have a checking account? You could probably get a teller's check from you bank if you withdraw from the savings account. But your own checking account would be easier.
2. Do you have on-line bill pay?
3. The credit card company might have a way to pay on-line. It would involve doing a direct debit of your bank account. This is normally done with checking accounts, but may be possible with your savings account.

Answer 5

i would use a debit card instead because you don't half to pay for it later on it directly takes money out of your account so you wont half to worry about paying for it

Answer 6

you will soon be 18 and seem to know everything, so I don't feel my input is need.