Should I get a credit card?

[reigndrop]

Yes, get one. Build a credit score!!! It will help you in the future. There are many perks to credit cards, cash back, rewards programs. Just use itresponsibly. KNOW your limits, and don't go above them and you'll be fine. I'm against debit cards because it's hard to dispute erroneouscharges since they automatically dock the money from your account, where was with a CC you have a holding period before you pay your bill, so you have time todispute the charge. Edit: Apply for the Citi Preferred College Students Card. The credit limit is only like $500/month so it keeps your spending in check, andI think there's cashback, too. My little brother has it and it's working out well for him. It's nearly impossible to get an AMEX as your first cardsince you have no credit history.

 

[memphisboi55]

NO!

 

[angeleelee]

if youre good with money, yes. If you're bad like I am, NO!

 

[kicktionair]

Had one since I turned 18

my credit is great..........

if your responsible with it then go ahead,, if not then just wait. Wait for what? i have no idea

 

[thecalculator]

NO

 

[snake201]

To all of you guys that are saying no, can you give me some reasons as to why?

 

[laced up jordans]

Once you find a good paying job or after you get outta college and youre done paying for it, THEN you get it. Believe me, credit cards will bite you so bad inthe @*% if your a college student

 

[nnarum]

Do not get a credit card while in college. You need to pay for school first. Don't accumulate too much debt while trying to get a head in life.

 

[jordanpp30]

I got one when I turned 18.

My limit started at $500.

My credit is

You should do it but dont OD.

 

[dirtylicious]

Originally Posted by MJ1331L

getting a credit card is nice, but the one big thing is that you are at risk of spending more than you make.

you can build credit by paying the MINIMAL monthly payment, but that will catch up to you with percentages that you would have to double check when you apply.

if you are only doing a campus job (i'm assuming 800 - 1k a paycheck), and you know it will cover go for it.

It is nice to build credit. cause once you are out of college, you'll be ahead of most of the pack [sort of]

my suggestion. pretend your credit card is a debit card. use it to spend, and pay it off with your paycheck. it will help you keep an eye on what you are spending, and how much you are making.

good luck!

that's a silly way to build credit.


OP --
IF you can get AMEX green(big IF).. then do it.

I've known people who never got a credit card...but then had issues with not having a credit history one once they found out they needed a loan(eg, homemortgage, business loan)
I'm a firm believer in no debt...but at the same time..I'm realistic..a credit score is needed for most people.

just make sure that you do indeed set realistic caps on what you spend on.
personally...for whatever re-occurring bills you have, eg cell phone, cable, etc...I would set up automatic payment via your credit card...and then just pay itoff each month...and would leave the credit card in a secure place at home, not inside my wallet.

 

[aveezythebeast]

Definatly wouldnt go that route

 

[l knicks fresh knick l]

get that credit card, and keep it as your

last possible choice of payment

 

[snake201]

Thanks guy for all the valuable information.

 

[bgl2687]

Originally Posted by Snake201

Originally Posted by therenegade23

Visa or Mastercard should be your first Credit Card. AMEX shouldn't be your first.

Why shouldn't an AMEX be my first?

Idk why, but for me back then was because they have annual fees. Many student credit cards didn't charge annual fee when I got my first card.

 

[cocolicious]

my mom pretty much told me I was getting a credit card & gave me some papers to sign and that was that.

 

[blackstilettos]

I honestly don't think most people are equipped to handle the responsibilities that come with owning a credit card when they are in college. BoA gave me aVisa with a very high credit limit when I applied, and of course I spent a lot of money. lol. As an adult, I know better, but at 18? I was stupid, immature,foolish, irresponsible, whatever. In retrospect, I should have applied for one at 21. I'm 23, and I've paid it all off, but I still look back withregret. At least wait until you are 21. Waiting until I have money in my wallet > buying an item and paying for the item+interest.

 

[ii jovo ii]

Listen to dirty, hes the smartest one on this board.

But personally, CASH IS THE BEST WAY!!!
If you got it, you buy it. If you not, you dont get it!

 

[snake201]

Originally Posted by II Jovo II

Listen to dirty, hes the smartest one on this board.

But personally, CASH IS THE BEST WAY!!!
If you got it, you buy it. If you not, you dont get it!

That's how it is with me right now and honestly I have had no problem with that approach. I am more interested in the future when I am going to buy a condoor buy/lease a new car.

 

[waystinthyme]

Originally Posted by RiKaN HaVoK

If you are responsible and can pay the balance off at the end of the months why not? Get a rewards charge everything on it and pay as you go .... Establish credit, earn points and you aren't paying interest.

I already got a PS3 a Blu Ray and round trip ticket to PR of rewards point and I don't buy anything besides what I would normally buy with cash .. Gas, EzPass, Grocery, Cloths, etc .. so basically if I'm going to buy with cash I just charge it get home transfer the money and keep it moving ....

You just have to be very responsible and not live outside your limits ..

what kind of card do you have?

i am 23, but got my first credit card back in may (i was 22 at the time)...i had to get a student card because i didn't have any prior credit history, noloans, etc. i'm looking to pick up a second credit card soon, and i want to look into some with decent rewards programs. i've paid off my current cc infull every month so far with no problems...i'll probably just use the second one for gas/groceries.

thanks,
waystinthyme

 

[kidjs5]

yea get one

 

[snake201]

If I were to apply to the Amex Green card and get denied what affect does that have in my credit report/score?

 

[the north west]

get a card with some sort of rewards

 

[rfx45]

Originally Posted by Snake201

If I were to apply to the Amex Green card and get denied what affect does that have in my credit report/score?

Not much effect but AMEX Green Card seems the best option for you because you have to pay off the whole card every month but I don't think paying annualfees is a good idea.

 

[Fong$tarr]

Yes to build credit but it gets our of hand. I want to say that it hasn't got a hold of me like others that got 5 credit cards but I have 2 credit cardsthat equal to about over $8000 in debt right now.

 

[blackmagnus514]

I'm fresh outta college with no loans/debt...my only recurring bills really are metrocard and phonebill...and cash for rent...

what's a good card to apply for? I work two jobs as well.