I can't get a credit card - page 2

i have been getting warnings from my mother since about 1 year before my birthday about not accepting credit cards. lucky for her no one will give me one, my boyfriend says i cant get one because i... Read More

  1. by   Lausana
    Originally posted by EmeraldNYL
    I have had a credit card since I was 18 and I try really hard to pay off my balance in full every month. I charge things like books at the beginning of the semester, which I don't have the cash to pay for because I didn't get my loan reimbursement yet. But by the time the bill comes I almost always have the money to pay off my debt.
    For things like that it is very smart and I miss my card for reasons like that! But you know that you'll be able to pay for the purchase...The poster stated if she had money she wouldn't need the card Headed for debt!

    Got a lot of great advice Miss JKm :kiss
  2. by   NurseDennie
    I got a credit card when I was 19 right after I got married. I had that card for about 22-23 years, something like that. And I got another one not long after that. At first it was okay, but I admit, it got out of control. Always good reasons: emergency brakes, tuition, books....

    Now, I have to pay out hundreds and hundreds in payments every month. One one card, they charged me $95 in fees alone this month!!

    The thing is, you're at the age where you can set yourself up for life. If you stay out of debt, and save up and pay cash for everything you need, and save some money each month at your age through my age, you'd be a freaking millionaire! It seems like the emergencies always happen when you don't have any money - it's like it's a cause and effect!! If you keep savings, then you don't have as many emergencies.

    I don't think that you need to get a secured card or anything to get credit. What do you need credit for? People think you need it for a car, but you can save up and buy a clunker and then trade that up when you've saved some more and so on. So most people REALLY only need credit for a home. If you have a steady job and if you've paid rent on time or early for 2-3 years, then you're good for a regular mortgage.

    I sure wish I'd NEVER gotten the first credit card. Oh - and PS - even if you get one of the low interest cards, if you are ONE DAY late with a payment or do any number of things, they'll move the rate to 24% right then. And have you noticed that as the prime rate goes down, the interest rate on existing cards does NOT go down? The sure when up when the interest rates were going that way!!!!!!

    Love

    Dennie
  3. by   2banurse
    Take it from someone who has really messed up with credit cards etc., the only way I'm able to get even is by filing bankruptcy (of which I am very ashamed). That means that I won't have this off my credit report until I'm 48!!! God knows what other difficulties I will have because of this.

    If you don't have the money to pay back what you owe, you'll never get clear of credit card debt. It isn't just the principal (the amount you borrowed) but the interest that kills you (it did me). If you want to build up credit, get a secured card with a very low limit. Resist the increases in credit that you will receive as you establish your credit. Because of this, it is very unlikely that I will be able to own my own place for quite some time....I dream of mine that I messed up on.

    Kris
  4. by   Nurse2BinNC
    Miss JKm, I am speaking as a person who spent 15 years working in the credit industry before my mid-life crises of going to nursing school hit me. Everyone has gave you great advice. I have seen so many young people, just starting college get into so much trouble with credit cards. I was manager of a finance company who had to be the person to approve or deny the loans of the people that all had the same story. "Once they started college, they got credit card offers and applied for all of them, before they new it they were so deep in debt that they couldn't keep their head above water. Alot of people in the credit industry have really lobbied for cc companies to limit the solicitation of high school and college aged kids. I don't know you, so I cannot speak for your maturity level. But in most cases the people that I have seen get into the major credit trouble were immature college students who ended up with over $1000 in debt before they even finished their freshman year. Most carried a full time college schedule which left little time for working and making money. Please consider everyone else's post about being careful with credit. From my experience a secured credit card is the best way to go (they usually have smaller credit limits) until you fully understand the use of credit and are willing to use it with responsibly. Good Luck.
  5. by   ava'smomRN
    WOW yall arre worse than my mom and my boyfriend!!! but i appreciate every post! thanks, now i think credit cards are evil. instead of getting one i think i will just relax, i dont really need anything i just want things! or i will just get a secured one, but why should i pay their fees when i have a check card from my bank? am i right about that?(check card vs. secured credit card)

    thanks again this board and my not getting any credit cards are blessings in disguise! thanks everyone
  6. by   ava'smomRN
    ouch KC CHICK
  7. by   OBNURSEHEATHER
    Originally posted by Miss JKm
    WOW yall arre worse than my mom and my boyfriend!!!
    Yeah. They're probably right just like we are.
  8. by   KC CHICK
    What's 'ouch' about it? I just call 'em as I see 'em.
    I simply suggested making more money to spend instead of spending someone else's (via credit) and getting yourself into debt. Sorry that it's just not what you wanted to hear.

    I'm a very straight forward person. (If nobody's noticed)
    Anne
    Last edit by KC CHICK on Jan 29, '03
  9. by   ava'smomRN
    KC CHICK
    i meant that in more of a appreciative way. you know that the truth hurts . i am also straight forward. i hope you don't think you crushed my feelings, that post was juat a way of saying thak-you for the reality check.
  10. by   KC CHICK
    Sure, hon. No prob.
  11. by   TheBrainMusher
    Ms JKm,

    YOur boyfriend is right about getting a card ... if you have all these inquiries, your credit goes down. If you've never had credit before, you might only be able to get a secured card. It sucks ... but ... are you a student right now? I know a few places that give you a student credit card and no matter what people say, you have to go into debit in order to build credit if you want to buy a house, card, etc in the future. As long as you pay it off in full or in 1-2 months you are ok ... just don't make a habit of it. Plus, the card I am thinking of can only get you a $250 limit, but its a start. Try Capital One, I know I got my first CC there, as well as my sister (I gave it to her for her 18th birthday - big mistake, she now have 3 cc!) that or providian. Those have lower limit cards, but I would wait awhile until your credit clears if you have A TON of inquiries. How many times did you apply for a credit card?
    Meg
  12. by   crp2000
    I would suggest -- if you have NO CREDIT at all -- getting a 'secured card' from your bank and using it wisely....though i think someone else already made this point.

    i'm suggesting you do so merely to build up your credit. if you're only 18 years old and can prove (over time) that you can handle credit RESPONSIBLY, you'll be one of the VERY FEW that actually qualify for those ZERO DOWN / NO PAYMENT 'TIL NEXT YEAR automobile deals!!!!

    seriously, you should definitely have at least one credit card or some other creditor reporting POSITIVE information about you to the major credit reporting agencies.
    Good Luck!
  13. by   Lausana
    Originally posted by crp2000
    seriously, you should definitely have at least one credit card or some other creditor reporting POSITIVE information about you to the major credit reporting agencies.
    Good Luck!
    I disagree, someone working only 15 hours a week can't afford a credit card. Different story after college, but now it would just be stupid (unless I'm the only one wanting to beat my head against the wall each time I see this thread again!?) Better to start out at say 22 with no credit and build it responsibly than have debt at that age.

    Nevermind, I just won't read this thread anymore.

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