Just got my first credit card... tips?

My only question is, would it hurt my credit if I closed my account a year in after making regular payments and no remaining balances?
       

Yea, i think only slightly though. When I was 18, I bought a shirt at Express the chic at the counter told me to get an express card even tho I was paying with CASH. I had no idea most store cards are credit cards, but she said I could pay the balance with cash and save 10 bucks
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 Signed for it then the dude behind me (thankfully) told me to be careful with credit cards. Told her to close it on the spot. Acct still shows up on my credit
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Any closed credit acct can have a negative impact

have become more thsn 2 yrs old and thusly fallen off my report and I now have what's called a "0" score


Really? Thats weird I've seen multiple credit reports, I def know the negatives remain on the report I would think those accounts would too tho. Where'd you get your report from? Or was that the bank telling you that? If you can I'd get a credit report from another source, and try and dispute that

As far as OP goes, I hear ppl saying they want to up their credit score etc etc, but I only ask, for what purpose??
  
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use it to buy things that you already have the money for and keep that money in your bank account until the 29th day of your billing cycle and pay off your card.

this higher the balance on your card and the higher the percentage you pay off of it every month will accelerate the points on your credit.
 
buy $5000 worth of stuff, with a credit card you dont have to pay it back
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Yea whatever you do, make sure that you NEVER miss a payment. Also try to make payments larger than your minimum or it will never get paid off.
 
Originally Posted by limonyfresh

get a rewards card.
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This.

Why would you sign up for that card? (Not sure if I missed that part).
CHASE is offering $250 cashback when $500 is spent within 3 months. Decent rewards.

+ As already mentioned, DO NOT SPEND MONEY YOU DONT HAVE.
 
Originally Posted by Luong1209

Originally Posted by limonyfresh

get a rewards card.
Click to expand...
This.

Why would you sign up for that card? (Not sure if I missed that part).
CHASE is offering $250 cashback when $500 is spent within 3 months. Decent rewards.

+ As already mentioned, DO NOT SPEND MONEY YOU DONT HAVE.
Click to expand...
Chase wouldn't accept him for their rewards card.

Citi, maybe.
 
see if u can get a $500 limit instead so u dont mess ur self up... this ****** dude i work with is 23 yrs old and just filed bankruptcy for being like 30k-40k in debt 
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What everyone said is right. I had an Amex Plat in my freshman year uring college. I f'd myself at the end of that same year because I thought I was BALLIN' with that card. Free money to buy whatever I want, bought whatever I felt like it whenever I felt like it. Sooner or later, that balance is gonna get higher and higher and just because they send you mail and you don't have to respond with payments doesn't mean it's doing you no harm. I personally didn't tell my parents because I didn't want them to know I was spending my tail off with a mediocre income so I just brushed it off. My credit score got rocked and I had to ask my mom for help...I felt pathetic. I've graduated from college and am 2 years removed...my credit score is finally respectable after building it for the past 3+ years.

Listen to what everyone in here has told you. Cap your limit and spend wisely. Use cash whenever you can, use the card on small things that you're sure you can pay for with your income. It's a good way to build your credit but also an easy way to destroy it. Like sex, be responsible and you'll be alright.
 
I got a Bank of America, Student Visa.

I jus' use it for food, gas, CD's and for NBA 2K's. (Which come out annually.)
 
Originally Posted by kiendienn

Originally Posted by Luong1209

Originally Posted by limonyfresh

get a rewards card.
Click to expand...
This.

Why would you sign up for that card? (Not sure if I missed that part).
CHASE is offering $250 cashback when $500 is spent within 3 months. Decent rewards.

+ As already mentioned, DO NOT SPEND MONEY YOU DONT HAVE.
Click to expand...
Chase wouldn't accept him for their rewards card.

Citi, maybe.
Click to expand...
Ah, you may be right...Definitely check for a card that has lower APR and better benefits though.
 
Just got my first CC as well, I have 2 incomes and only plan on using the card for gas and groceries really. 
 
Be smart my man cuz it will add up quick i owe 2500 but most of it was stuff for the motorcycle and a few trips
 
pay everything off on time and you'll be fine OP, its only serious when lames spend beyond their means
 
-Set up auto-payments so you never miss a deadline.
-Don't get in the habit of swiping everything, expenses will add up quickly and may lead to debt. That said, use it to pay off strictly bills, gas, or groceries. Lay off restaurant tabs and bars because the costs will add up quick on the card since you'll be swiping away without seeing the money flow.

EDIT: Caveat to the second point: if you spend less than you earn/have saved, then you're good with swiping everything. Often, it's just difficult for people to keep track of their spending and being disciplined, so it's easier to limit yourself to swiping certain things and not everything.

Credit cards aren't as evil as everyone thinks they are. They are tools that can be misused very easily, but if you learn how they work and are mindful about how you use them, they can be rewarding.
 
Definitely monitor your spending as much as possible. You'l be surprised how small things like toiletries can add up.
 
As long as you are responsible you will be fine.

Make your monthly payments on time and of course do not purchase anything that you can't pay in full at the time of the purchase.
 
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