-
Hey, guest user. Hope you're enjoying NeoGAF! Have you considered registering for an account? Come join us and add your take to the daily discourse.
Getting a Credit Card
- Thread starter miyuru
- Start date
- Status
I decided, a few weeks ago, to get my first one...
...and got my ass rejected!
If you don't really need one, but just want one, I say just apply for any free (no annual payment) ones - mainly to build up your credit. Most of the free ones don't have too many benefits, but some do. BoM's Mastercard has AirMiles, there's the PC Mastercard with PC points, etc.
If you can't get the normal one, just get a student one.
And you can apply online.
Standard MasterCard Dealers
Visa Dealers
There's also American Express, etc. but I'm too lazy to grab the link..
...and got my ass rejected!
If you don't really need one, but just want one, I say just apply for any free (no annual payment) ones - mainly to build up your credit. Most of the free ones don't have too many benefits, but some do. BoM's Mastercard has AirMiles, there's the PC Mastercard with PC points, etc.
If you can't get the normal one, just get a student one.
And you can apply online.
Standard MasterCard Dealers
Visa Dealers
There's also American Express, etc. but I'm too lazy to grab the link..
I've never had a credit card.. I don't why people would buy things they don't have money for in the bank and pay for them later. Unless you really need the cash If you don't have it right now why borrow and pay interest?
I love my Bank of America check/debit card. It works every where and for everything.
I love my Bank of America check/debit card. It works every where and for everything.
Coolies. My mom wants me to get the PC Card so we can get cheaper groceries.
I don't understand, since both my parents have PC cards.
Edit:
I really just want a CC so I can shop online without asking for my parents' number and paying them back, and to build my credit since it'd be np.
I don't understand, since both my parents have PC cards.
Edit:
I really just want a CC so I can shop online without asking for my parents' number and paying them back, and to build my credit since it'd be np.
StrikerObi
Member
Chrono said:I've never had a credit card.. I don't why people would buy things they don't have money for in the bank and pay for them later. Unless you really need the cash If you don't have it right now why borrow and pay interest?
I love my Bank of America check/debit card. It works every where and for everything.
You can pay in installments and still avoid interest as long as you pay enough in each installment. Credit Cards make it easier to pay for large things sooner. Having a credit card and paying it off well will raise your credit, so it will be lower when you try to get that home or car loan. They're also pretty much required to buy things online, unless you're only shopping on eBay.
I love my debit card, I use it for all my small purchases. I carry almost no cash because of it.
Not everyone uses credit cards as free money. Benefits range from building up a credit rating (for use in, say, buying a car/home), to making purchases in order to accrue bonuses (frequent flyer miles, cash back, etc.), to being able to easily make a purchase when you get paid twice a month and don't happen to have or want to drain your bank account before it's replenished. It's not just for stupid people to get into long term debt.
Wellington
BAAAALLLINNN'
I was JUST about to make a similar topic.
Agreed. I have a check card and it has worked well enough, but some places need an actual credit card (blockbuster) and I've been kicking around the idea of getting one. However, the idea of interest really irks me. I wouldn't say I'm cheap, I'm just very shrewd with my money, and paying interest on college loans is already irritating me beyond belief. Interest on credit cards would be killer. On the other hand I do need to build up credit, argh.
I've got a couple of friends who are over $5,000 in debt. I'm afraid of losing self control somehow, someway, and racking up debt like that. :0
Chrono said:I've never had a credit card.. I don't why people would buy things they don't have money for in the bank and pay for them later. Unless you really need the cash If you don't have it right now why borrow and pay interest?
I love my Bank of America check card.
Agreed. I have a check card and it has worked well enough, but some places need an actual credit card (blockbuster) and I've been kicking around the idea of getting one. However, the idea of interest really irks me. I wouldn't say I'm cheap, I'm just very shrewd with my money, and paying interest on college loans is already irritating me beyond belief. Interest on credit cards would be killer. On the other hand I do need to build up credit, argh.
I've got a couple of friends who are over $5,000 in debt. I'm afraid of losing self control somehow, someway, and racking up debt like that. :0
Chrono said:I love my Bank of America check/debit card. It works every where and for everything.
IIRC Debit cards still don't offer the protection against fraud that credit cards do, so as long as you pay off the balance at the end of every month, you're better off using credit.
Also, credit cards are useful for some emergencies, since many people have more credit than they do liquid assets. And yes, building a credit rating is also a good idea, although I have no idea if that's actually true.
Interest isn't a biggie if you pay *enough* every month. Really I'd only be putting smaller purchases and pay them the same month to build my credit rating. I love my debit card too though, but once you're 19 (as far as I know where I live) you have to pay once you use it more than 15 times a month or so (depending on your bank).
Yeah, never get a credit card, great idea.
Then when you are looking to get that big loan for that pretty new house you want, you are FUCKED.
You need to build credit, you are an idiot if you don't.
My limit is pathetic, but CC's are necessary. And hey, it's like free money.. for a month.
Also, I highly doubt you are going to get into deep shit debt with your first card. Unless you go for like a student account, or something under your parents, your limit is going to be VERY low. You will make more in a week at your job than your limit, probably.
Then when you are looking to get that big loan for that pretty new house you want, you are FUCKED.
You need to build credit, you are an idiot if you don't.
My limit is pathetic, but CC's are necessary. And hey, it's like free money.. for a month.
Also, I highly doubt you are going to get into deep shit debt with your first card. Unless you go for like a student account, or something under your parents, your limit is going to be VERY low. You will make more in a week at your job than your limit, probably.
Error Macro
Member
Yeah, I've been using just my check debit card thing, and it has a VISA number, so I just use that for online purchases. Deducts straight from my checking account at my bank, so I don't have to worry about building up massive debt. HOWEVER! I really, really, need to get a credit card to start building up credit. I'm gonna be 24 in a couple of months, and I think it's time to start. But, I've applied a couple of times to places that are supposedly newbie friendly, like Capital One, etc. They all freaking rejected me because I need to have credit in order to get their credit cards. WTF. I need someplace that I can get a Visa card from without having prior credit.
Error Macro
Member
Scorpion said:
Absolutely, if it has a Visa number on it, or something similar. I do it all the time.
aparisi2274
Member
if u are getting a CC and u are a student, try to get a Capital One. Something with a low APR (annual percentage rate) and a low low Interest rate. Most cards say something ridiclously low like 4.5%, but u need to read the fine print. That 4.5% is usually for the first 6mos maybe a year, after that, it will go up to like 18% or something ridiculous.
All I have to say is BE CAREFUL.
You may want to try an open a checking account and use the check card you get as a your CC, this way you know what you can spend and not build up a lot of debt.
All I have to say is BE CAREFUL.
You may want to try an open a checking account and use the check card you get as a your CC, this way you know what you can spend and not build up a lot of debt.
ATM Card != Debit card.
All debit cards are ATM cards. Not all ATM cards are Debit cards! All debit cards are backed by a major credit card, thus you can use them anywhere you could use that kind of CC.
So many idiots come into my store....
"Hey you take debit here?"
"Yes"
*Slides ATM card*
"Hey it doesn't work"
"Is it backed by a major cc company?"
"No"
"THAN ITS NOT A DEBIT CARD, GET DAFUGGOUTTA HERE!"
Only gas stations and some supermarkets take ATM.
All debit cards are ATM cards. Not all ATM cards are Debit cards! All debit cards are backed by a major credit card, thus you can use them anywhere you could use that kind of CC.
So many idiots come into my store....
"Hey you take debit here?"
"Yes"
*Slides ATM card*
"Hey it doesn't work"
"Is it backed by a major cc company?"
"No"
"THAN ITS NOT A DEBIT CARD, GET DAFUGGOUTTA HERE!"
Only gas stations and some supermarkets take ATM.
Question about Credit Cards:
How does buying something expensive and paying by parts later work exactly? can you buy 500 dollars worth of DVDs and pay only PART of the 500 each month (with interest) ? Or maybe a plasma TV? I know places like Best Buy have monthly payment plans for Plasmas but Im wondering if I can just pay them the entire price with a CC and pay it off little by little to the credit card company. Or would interest hike the price so high that it wouldn't be worth it?
I don't know much about these things so feel free to call me an idiot. though the idea of buying ALL of the kenshin boxsets in one order instead of one box set a month sounds awesome...
How does buying something expensive and paying by parts later work exactly? can you buy 500 dollars worth of DVDs and pay only PART of the 500 each month (with interest) ? Or maybe a plasma TV? I know places like Best Buy have monthly payment plans for Plasmas but Im wondering if I can just pay them the entire price with a CC and pay it off little by little to the credit card company. Or would interest hike the price so high that it wouldn't be worth it?
I don't know much about these things so feel free to call me an idiot.
though the idea of buying ALL of the kenshin boxsets in one order instead of one box set a month sounds awesome...debit cards aren't like, particularly safe for use online though, since the payment is made from your bank account at time of sale.
structurally, consumer lending is a system set up to extort money from the individual, but in this day and age you basically can't avoid it, so the best course of action is to use the perks like fraud protection and convenience to your advantage but avoid actually borrowing any money for more than a month at a time for as long as you can (and hopefully at that point your rating will be high enough to allow you to sink into homeowner or car-owner debt comfortably).
structurally, consumer lending is a system set up to extort money from the individual, but in this day and age you basically can't avoid it, so the best course of action is to use the perks like fraud protection and convenience to your advantage but avoid actually borrowing any money for more than a month at a time for as long as you can (and hopefully at that point your rating will be high enough to allow you to sink into homeowner or car-owner debt comfortably).
Chrono said:
Basically, you're borrowing the money to purchase the item from the credit card company. And since they like to make money, they're going to demand that you pay them back, and they're going to charge you a nasty interest rate (%10-20 is common on no-fee cards) on whatever you owe. Oh, and if you forget to pay one month, they'll hike up the interest rate. And they'll do the same if you forget to pay *any* of your bills on time - even the ones that they aren't connected with in any way.
So yes, you can pay the entire thing using a credit card - although it's not necessarily a good idea to do so. I would never recommend paying for frivolities on credit, but those things come in very handy for the unexpected car repair/unemployment/medical bill/etc.
I have VISA debit card since 1997 or so. It's virtuall a CC with the credit set to 0. Actually it says that when I check it online.. Credit = 0 heh...
I can get credit on it but I don't want to.
"debit cards aren't like, particularly safe for use online though, since the payment is made from your bank account at time of sale."
Yup but I have a bank account set up just for my debit card. And besides I think the VISA insurance is pretty generous. Never tried it though
I can get credit on it but I don't want to.
"debit cards aren't like, particularly safe for use online though, since the payment is made from your bank account at time of sale."
Yup but I have a bank account set up just for my debit card. And besides I think the VISA insurance is pretty generous. Never tried it though
The argument against debit cards is kinda valid, although I'm sure that sufficient measures are in place to protect against most fraud.
But me, like my cynical breathren, prefer to keep any possible credit card number thief as far away as possible from the actual honey pot. A bonafide credit card lets you do that, because you can usually identify the fraudulent charges with the card issuer and not have to pay them. Whereas with a debit card, the money's technically already gone, and it's just another level of stress that I wouldn't have to deal with if any card-number-stealing dickwad ever got a hold of my shit.
But me, like my cynical breathren, prefer to keep any possible credit card number thief as far away as possible from the actual honey pot. A bonafide credit card lets you do that, because you can usually identify the fraudulent charges with the card issuer and not have to pay them. Whereas with a debit card, the money's technically already gone, and it's just another level of stress that I wouldn't have to deal with if any card-number-stealing dickwad ever got a hold of my shit.
Tommie Hu$tle
Member
miyuru said:It's np for me to have a credit card, I have around 10Gs in my account, so I don't think I'll fall into debt
Famous last words. The only think I want to add to this is don't treat a credit card as "extra" money and you'll be fine.
Unless you can afford to buy a car/house with cash, get a credit card as soon as you can. Spend $20-30 a month on it, pay it off (or mostly off...it's actually supposed to be GOOD to carry a balance) every month. Get the card as soon as you start college if you can. By the time you're out of college you'll have a credit rating around 650-680. Get it up to 700 and you'll probably never be denied for a loan, certainly not based on your credit score.
If you're getting denied for real cards, go apply at Best Buy, Sears, or any store that has their own card. They're easier to get, and they still report it on your credit. Before long you'll be able to get a VISA or Mastercard.
If you're getting denied for real cards, go apply at Best Buy, Sears, or any store that has their own card. They're easier to get, and they still report it on your credit. Before long you'll be able to get a VISA or Mastercard.
Comfort_Eagle
Banned
Yup like previous posters have said, building credit is an important part in looking foward to the future. Ive had credit cards since i was 18 and every month i always pay it off. Now im 23 and i have a really good credit rating. Now, if you are one of those people out there who go crazy and get stupid and max the thing out then maybe it would be a bad idea. Its just all about being smart...sadly some people do have a problem with that.
- Status