Getting a credit card?

Question

So i've recently been contemplating getting a credit card. But i'm afraid of getting into debt. I just want to have one for emergencies, and I mean real emergencies. And even when they come up i'll try to think of another option, but if there isn't one atleast i'll have the card. I know how some people when they get cards, they buy a bunch of stuff and end up not being able to pay it. But I doubt mine would get any work out. Or do you have to use it every so often? And when I do use it i'll put money aside for it. How much more do you usually pay? Like I heard you could pay $10 for a $5 purchase. I dunno, but would getting one be a good idea?

Answer 1

You are asking the right questions. If you can handle a card it is much more convenient and safer than carrying cash around. One thing you might want to do is add up your charges at the end of each day and compare to your bank balance. If at all possible, always pay the balance in full each month. What some people do is put the card in a bowl of water in the freezer overnight, and the next day it is in solid ice - this is to stop themselves from making impulse purchases with the card.

Answer 2

It is a great idea.   Have the will power to not use it too much but it is good to use it at least a couple of times a month.  Make sure to pay it off by the end of the month so you do not pay any interest.  Using it and paying on time will help you with your credit score.  If you just have it but don't use it, it will not help you much.  You need to use it and pay it on time to show lender (when you need it in the future for car or house) that you are in good standing and are good for loans and things like that.  Just make sure to pay it off by the end of the month so you don't get charge any interest.   Good luck

Answer 3

What I did was get a card with a very low limit (say..300.00) and every month buy something for 10-20 bucks and then immediately pay it off the next day or as soon as the charges posted. Just make sure you aren't getting charged an annual fee and check the interest rates to see how long the introductory rate is. Some go up after a few months!

Answer 4

There are a lot of things about getting a credit card.  1) make sure it is a $0 annual fee.  2) your first credit card will not have a very high credit limit.  3) Make sure you are responsible enough.  I know firsthand.  I started charging small things (said I had money put aside for them) and ended up getting myself into $6,000 in debt by the time I was 20.  You do not have to use them often.  However, the more you use it and pay it off on time, the higher you will get your credit score.  having a credit card for emergencies only or for small purchases to build your credit is a wise idea.  Make sure you are responsible and no, the movies and shopping with friends is a not an emergency.  You do not pay $10 for a $5 purchase unless you carry a balance and your APR interest rate is high, which given it will be your first card, it will be rather high.  However, if you are a student you should get a student credit card.  They are the easiest to get.  Despite what many think, a gas card was the hardest card for me to obtain at 18.

Answer 5

Your best bet, would be to get a secured or pre-paid card.  You could put money on it - whatever amount you want, so you have a balance there to draw on, in an emergency.  It's your money - you just load the card up when you need to.

No debts with that.

Answer 6

I said the same thing when I got my first card, but the temptation really is over-whelming. Mine is up to it's limit, but then again, I've been out of a job for 6 months and needed basics to survive. If you can fight the temptation to spend it, then it's always a good idea. If it's your first one however, it may take a while before you find a company that will even give you one. Best tips are to never carry the card in your wallet!

Answer 7

Well you can get a prepaid credit card from your local currency exchange. They have different ones such as an ice card you pay like ten dollars for it. You can add money as you please, and when you use it as a credit card instead of a debt card you receive points. and I think if your card gets stolen they even replace it for you.

Answer 8

Having an emergency credit card is a great idea. . . .

. . . if you have self control over your spending

you'd be best off getting one with a not so high credit limit and a low interest rate so when you do use it you can't charge away a ridiculous amount and you won't end up paying so much interst for the purchases you do make.

Look into different companies and compare and contrast to help you decide which card will best suit your needs

Answer 9

If you know you are disciplined enough not to spend when you don't have the money in the bank to back it up, you should consider getting one.  That way, you can start building up your credit score for future loans (like home mortgage).  

However, if you end up not paying your statement in full every statement your score will go down and your payments will go up (if don't pay the full amount every time, then the interest goes up- that is how you end up paying $10 for a $5 purchase).

Answer 10

Getting a credit card helps you build credit but if you do not have discipline with your finances it is not a good idea to get one. there are two ways you could start credit one or them is taking out a small personal loan which you might need a parent or an adult to co-sign for you meaning if you do not pay the loan they will. Or you could apply for a credit card for bad or no credit which most likely will get you approved no matter what, but if you are a student you could get a student credit card which will offer you lower rates and no annual fees, check out www.fastcreditcardapprovals.com and go under bad or no credit or student cards. good luck

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Answer 11

Avoid them at all costs.

Used wisely, they could save you money years ago - though nowadays the vultures prey on the poor as a source of income and refuse good paying customers.

I used mine for both business and personal use for years, and thought nothing of owing £35 000 on them as I was owed more than that figure at any one time, however a change of circumstances destroyed a 20 year good relationship with the cards, and I am now going bankrupt, due to misfortune, and the greed of those loan sharks.

Answer 12

I'm tempted to, but personally would not get one cause I know me and know what i'm like in stores.. It's up to you..  

Answer 13

When you get a CC, the sentence: "I can't buy it, I do not have money at this time.."  will desapear from your mouth or mind. That's the BIG problem with CC, you always have "money' to buy everything.

I had about 8 of them, and my goal right now is tocontinue  getting  rid of all of them.

One thing is having nothing, but other very different thing is to own money!!!

Better consider a savings acc!

Answer 14

Getting a credit card is a good idea. There are many trustworthy and great banks that offer them, for example Orchard Bank and Capital One Bank. You can use a credit card whenever you want. You can go months without buying anything. Every month you get your bill. If you didn't buy anything, you don't pay anything. If you bought say a television for 100 dollars, you have that on your bill. You have the option of paying the full 100, that way you won't be charged interest later on. If you don't have the 100, you can pay the minimum payment, which is usually 20 dollars, but be aware that you will be charged a little interest, and next month that bill might be 85 dollars instead of the 80. Getting a credit card is a good investment. If you make your monthly payments you can build your credit, and in the future you will be able to get good deals on houses and cars. Go for it.

Answer 15

If you use your card once a year, the company will keep the card active.