Got approved for my first credit card!

I applied for the AMEX Blue for Students about a week ago b/c I just don't feel comfortable anymore using my debit card online. So I applied for the card that has the best customer service, and I called today to check the status, and I was approved!

I don't really care that it's a student card (higher interest rates) because I plan on charging < $50/mo on it, and paying it off each and every month. But the Blue looks so cool, and I'm excited that I got an AMEX card - no more worries about fraud, etc.

 

[NutBucket]

Its all downhill from here!

 

[kami333]

Amen.

Got $880 balance on my card, but I knew I could pay it off.

 

[LOLyourFace]

Originally posted by: kami333
Amen.

Got $880 balance on my card, but I knew I could pay it off.

that's what i told myself 3 months ago..

 

[StageLeft]

uhoh

 

[bmacd]

Originally posted by: jumpr
I applied for the AMEX Blue for Students about a week ago b/c I just don't feel comfortable anymore using my debit card online. So I applied for the card that has the best customer service, and I called today to check the status, and I was approved!

I don't really care that it's a student card (higher interest rates) because I plan on charging < $50/mo on it, and paying it off each and every month. But the Blue looks so cool, and I'm excited that I got an AMEX card - no more worries about fraud, etc.

i get at least two preapproved offers a week. I didn't use most of my cards, so i just cancelled all but two. Credit card debt is VERY easy to get into...i'm semi-stuck in it myself. The worst words to live by: "I can always put it on credit and pay for it layer". Don't use credit UNLESS you have the cash, otherwise, you'll have your very own website, "savejumpr.com"

-=bmacd=-

 

[dullard]

Originally posted by: jumpr
paying it off each and every month.

Congrats. If you can keep up with what I quoted above, then you'll love the benefits. You can buy something on the 1st day of your statement, put the cash you would have spent in the bank, wait 1 month for the statement to be sent to you, wait another month to pay it (but before the deadline). Suddenly you got 2 months of interest for free! Add in the fact that later on you may get a card with cash back bonuses, and that you are building a sound credit history, and you will see that a credit card is so much better that any debit card.

Stray from that quote and you will be paying double for everything you purchase (typical interest paid in typical amounts will double the price). Then it will be the dumbest move you've ever made.

 

[Evadman]

Welcome to hell.

 

[Queasy]

Sounds like you at least have a plan One of my roommates in college got approved for a $1000 Discover Card (how I don't know). The day he received his card in the mail he went out and bought an ~$950 stereo system. The interest charges alone kept putting him over his limit for a few months. Everytime I think of that I just want to phone him up and say, "dumba$$".

 

Ha, yeah I have a plan - my parents are really good about paying their CC bills each months (they've NEVER carried a balance in my 18 years that I'm aware of), so I have a good model to work for. Plus they'll kill me if I ever carry a balance.

 

[43st]

Originally posted by: jumpr
I applied for the AMEX Blue for Students about a week ago b/c I just don't feel comfortable anymore using my debit card online. So I applied for the card that has the best customer service, and I called today to check the status, and I was approved!

I don't really care that it's a student card (higher interest rates) because I plan on charging < $50/mo on it, and paying it off each and every month. But the Blue looks so cool, and I'm excited that I got an AMEX card - no more worries about fraud, etc.

Welcome to your worst nightmare, Credit!

Credit = the need to prove your inability to manage finances so you can purshase high dollar items!?!?!

Make sense out of that one! It's fun trying to purchase a new car and telling the dealer that you want to pay cash for it. We had to go to a bank two blocks away from the dealer, get a loan, back to the dealer, pick up the car, return to the bank to pay off the loan. Woohooo!

 

Originally posted by: Thera

Originally posted by: jumpr
I applied for the AMEX Blue for Students about a week ago b/c I just don't feel comfortable anymore using my debit card online. So I applied for the card that has the best customer service, and I called today to check the status, and I was approved!

I don't really care that it's a student card (higher interest rates) because I plan on charging < $50/mo on it, and paying it off each and every month. But the Blue looks so cool, and I'm excited that I got an AMEX card - no more worries about fraud, etc.

Make sense out of that one! It's fun trying to purchase a new car and telling the dealer that you want to pay cash for it. We had to go to a bank two blocks away from the dealer, get a loan, back to the dealer, pick up the car, return to the bank to pay off the loan. Woohooo!

Wow, are you kidding? I would've thought a dealer would jump out of his chair if you told him you were paying cash...that's amazing!

 

[dullard]

Originally posted by: jumpr
Ha, yeah I have a plan - my parents are really good about paying their CC bills each months (they've NEVER carried a balance in my 18 years that I'm aware of), so I have a good model to work for. Plus they'll kill me if I ever carry a balance.

I just did a quick calculation. I've earned an average of $157.5 per year from using my credit cards - no cash, no checks, no debit cards. I have not spent a single penny in interest or even stamps to pay the bills (I pay online). Plus my good credit means my car insurance payments drop. I have no clue how much that saved me. And when I buy cars/houses in the future I'll save thousands there since I used my credit cards the way you plan to.

Now look at all the angry posts from people here that at one point decided: "I'll just buy this now and the interest won't be that bad"...

 

Originally posted by: dullard

Originally posted by: jumpr
Ha, yeah I have a plan - my parents are really good about paying their CC bills each months (they've NEVER carried a balance in my 18 years that I'm aware of), so I have a good model to work for. Plus they'll kill me if I ever carry a balance.

I just did a quick calculation. I've earned an average of $157.5 per year from using my credit cards - no cash, no checks, no debit cards. I have not spent a single penny in interest or even stamps to pay the bills (I pay online). Plus my good credit means my car insurance payments drop. I have no clue how much that saved me.

Now look at all the angry posts from people here that at one point decided: "I'll just buy this now and the interest won't be that bad"...

Don't you ever buy fast food? Subway is the only place I know of that takes credit cards.

 

[43st]

Originally posted by: jumpr

Originally posted by: Thera

Originally posted by: jumpr
I applied for the AMEX Blue for Students about a week ago b/c I just don't feel comfortable anymore using my debit card online. So I applied for the card that has the best customer service, and I called today to check the status, and I was approved!

I don't really care that it's a student card (higher interest rates) because I plan on charging < $50/mo on it, and paying it off each and every month. But the Blue looks so cool, and I'm excited that I got an AMEX card - no more worries about fraud, etc.

Make sense out of that one! It's fun trying to purchase a new car and telling the dealer that you want to pay cash for it. We had to go to a bank two blocks away from the dealer, get a loan, back to the dealer, pick up the car, return to the bank to pay off the loan. Woohooo!

Wow, are you kidding? I would've thought a dealer would jump out of his chair if you told him you were paying cash...that's amazing!

It was a Toyota dealership in Altoona PA. They just looked at me funny and said "We can't do that. Do you want dealer financing?"

ROFL...

 

[dullard]

Originally posted by: jumpr
Don't you ever buy fast food? Subway is the only place I know of that takes credit cards.

Subway, Arby's, pizza places, and all slow food restaurants all take them. Honestly I haven't had McDonalds or Burger King in a few years now.

 

[Spamela]

Originally posted by: Evadman
Welcome to hell.

listen to this: get rid of it NOW

 

[Queasy]

Originally posted by: dullard


Now look at all the angry posts from people here that at one point decided: "I'll just buy this now and the interest won't be that bad"...

Hehe, the only time I say that is when I can get one of those 0% interest for 12 or 24 month deals.

I did that with the wide-screen HDTV I recently got from Best Buy. No interest for 24 months and I'll actually have it paid off by this summer once I get my quarterly bonus from work.

 

[Ime]

It just depends on the person about how well they manage their finances.

Someone learn early, some people learn later, and some people never learn.

I learned early about managing credit. My wife did not learn until a earlier this year.

I have a friend (whom shall remain nameless) who will NEVER learn.

 

[Ime]

Originally posted by: Queasy

Originally posted by: dullard


Now look at all the angry posts from people here that at one point decided: "I'll just buy this now and the interest won't be that bad"...

Hehe, the only time I say that is when I can get one of those 0% interest for 12 or 24 month deals.

I did that with the wide-screen HDTV I recently got from Best Buy. No interest for 24 months and I'll actually have it paid off by this summer once I get my quarterly bonus from work.

That's how I learned early and got out of debt faster. When I was 24, I racked up $3,000 in debt in a month. I came to my senses a few months later (after it was too late to get a refund) and I paid off the debt by transfering it to a credit card with a 0% interest on balance transfers for the life of the balance.

After I paid it off, I cut up the card.

I now have 1 check card and 2 credit cards.

 

[BooneRebel]

Originally posted by: Thera

Originally posted by: jumpr

Originally posted by: Thera

Originally posted by: jumpr
I applied for the AMEX Blue for Students about a week ago b/c I just don't feel comfortable anymore using my debit card online. So I applied for the card that has the best customer service, and I called today to check the status, and I was approved!

I don't really care that it's a student card (higher interest rates) because I plan on charging < $50/mo on it, and paying it off each and every month. But the Blue looks so cool, and I'm excited that I got an AMEX card - no more worries about fraud, etc.

Make sense out of that one! It's fun trying to purchase a new car and telling the dealer that you want to pay cash for it. We had to go to a bank two blocks away from the dealer, get a loan, back to the dealer, pick up the car, return to the bank to pay off the loan. Woohooo!

Wow, are you kidding? I would've thought a dealer would jump out of his chair if you told him you were paying cash...that's amazing!

It was a Toyota dealership in Altoona PA. They just looked at me funny and said "We can't do that. Do you want dealer financing?"

ROFL...

I bet the owner would have rolled someone's head if he overheard a salesman tell you that. There's nothing wrong with the instant gratification of getting cash in hand. However, they don't stand to make as much as they would if you did finance through them (and let them add in all those nifty 'hidden' charges).

My next (and all subsequent) vehicle purchases will be in cash. I probably won't ever buy another vehicle off of a dealer's lot, either.

 

[dullard]

Originally posted by: Queasy

Originally posted by: dullard

Now look at all the angry posts from people here that at one point decided: "I'll just buy this now and the interest won't be that bad"...

Hehe, the only time I say that is when I can get one of those 0% interest for 12 or 24 month deals.

I did that with the wide-screen HDTV I recently got from Best Buy. No interest for 24 months and I'll actually have it paid off by this summer once I get my quarterly bonus from work.

You did well. You did the math and figured out that you can pay it off before the interest is due and then you had the will power to do it. For that you got a great TV - 2 years early. Credit cards can be really great if used like that. But everyone here who has posts like "get rid of it now" obvoiusly took a consious decision to buy something that he/she could not pay for. Then when the bill came around he/she didn't scrimp and safe but instead chose to pay the interest. Once you make those two bad choices, often it is impossible to turn back...

 

[Mill]

Originally posted by: jumpr

Originally posted by: Thera

Originally posted by: jumpr
I applied for the AMEX Blue for Students about a week ago b/c I just don't feel comfortable anymore using my debit card online. So I applied for the card that has the best customer service, and I called today to check the status, and I was approved!

I don't really care that it's a student card (higher interest rates) because I plan on charging < $50/mo on it, and paying it off each and every month. But the Blue looks so cool, and I'm excited that I got an AMEX card - no more worries about fraud, etc.

Make sense out of that one! It's fun trying to purchase a new car and telling the dealer that you want to pay cash for it. We had to go to a bank two blocks away from the dealer, get a loan, back to the dealer, pick up the car, return to the bank to pay off the loan. Woohooo!

Wow, are you kidding? I would've thought a dealer would jump out of his chair if you told him you were paying cash...that's amazing!

They acted pretty normal when I told them I would pay cash for the mustang. Actually a certified check because it would be stupid to carry that much cash down there. It would make no sense at all.

 

[RossMAN]

Welcome to the beginning of the end.

I remember when I got approved my CitiBank while attending college. I thought, pffft I could handle charging $300 and paying it off. Gradually my limit increased, fast forward almost a decade later and I'm $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ in debt

 

[m2kewl]

all CCs are dangerous...you just got to know when to resist the temptation