getting a credit card

[SEEGERMANY]

Re: getting a credit card

I often wonder if people read through a thread before posting.

[Top Jimmy B]

Re: getting a credit card

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I'll give you the same advice I gave my son as well as his young fans. Find a bank that you feel you would like to do extended business with. Establish a checking account and if possible, a savings account. Once you've entered funds in the checking account, you can apply to the bank for a credit card. They normally base your line of credit around your checking/savings account balance. My son was issued a $500 line of credit by VISA. That amount will increase over time as long as your account balances increase and you pay your credit card bills on time.

Establishing good credit is not that hard. Keeping good credit lines is the tough part and it all revolves around your spending discipline. Good luck.

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Lending money has been my primary source of income for the last eight years and I have to admit, I couldn't have said this better.

The proper maintenance of your credit rating is the long term issue you need to get your head around. Assuming you are able to secure a credit card, I would advise you to follow some of the advice given by others and utilize the credit only when you are confident that you can repay your existing balance in full. Revolving debt can be a very tough cycle to break and is often the downfall of many young credit seekers.

I have been fortunate/wise enough to build a strong credit rating but it has taken years of discipline to maintain it. I have never extended my credit to purchase a guitar or any other gear...if I don't have the liquid cash, I will not buy it. The only guitar action my cards see is to secure a transaction, i.e, a deposit, or for an online purchase that I can repay immediately. This limits the number of guitars I purchase every year, but I don't owe a dime on one of them. This makes it easier to make a "bro deal" in the classifieds - I don't have to worry about losses or breaking even.

[atomic charvel guy]

Re: getting a credit card

credit cards can help score box as well.

[VinceV]

Re: getting a credit card

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credit cards can help score box as well.

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Yeah many escort services take CCs.

[Shawn Lutz]

Re: getting a credit card

cash scores the box....

Everyone needs credit but man so many people fall in to major debt because of credit cards. If you can't afford it today, you can't afford it.

[Jim Shine]

Re: getting a credit card

I live on cash and it sucks because I am 30 years old and have zero credit history. I can't get a loan, I can't do anything as I do not exist. I have been told people with bad credit are more likely to get a loan than I am.