I am 18..should I get a credit card?

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zCypher

zCypher

Diamond Member
Aug 18, 2002
6,115
171
116
If you have a job then I see no reason why you shouldn't. You'll start with a small credit limit, and you'll learn how it works from there hopefully.
 
Zim Hosein

Zim Hosein

Super Moderator | Elite Member
Super Moderator
Nov 27, 1999
65,430
408
126
Yes, just be cautious as this is the beginning of your credit report :)
 
S

skim milk

Diamond Member
Apr 8, 2003
5,784
1
0
Originally posted by: zCypher
If you have a job then I see no reason why you shouldn't. You'll start with a small credit limit, and you'll learn how it works from there hopefully.
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I don't have a job *yet* but I'm going to... when classes start again this fall



I'm already considering opening up my own account with sprint for a cell phone, should I just build credit with that first? I don't want to get a overload with bills from credit card, cell phones, etc.
 
E

Encryptic

Diamond Member
May 21, 2003
8,885
0
0
NO. You'll dig yourself a hole and won't be getting out of it for a while. Don't ask me how I know this. :(
 
datalink7

datalink7

Lifer
Jan 23, 2001
16,765
6
81
If you are responsible, it would actually be a good idea to start a credit history.

I have had a card since I was 18 and have paid it off in full every month. You don't have to go into deep debt just because you have a credit card. Just control yourself.
 
S

Spac3d

Banned
Jul 3, 2001
6,651
1
0
Yes, but be responsible with it and it will help you build credit. Most of the idiots here don't know what that means and they run up debt.
rolleye.gif
 
L

LordJezo

Banned
May 16, 2001
8,140
1
0
Yes, get a student one.

But please use it wisely.

My parents drilled into me for a very very long time never to buy more then you can afford, and, for the past 5 years I have never had a monthy balance carry over.

Use it like a check card, use it for everyday purchaces like you would cash or a check card.

Make sure it has online banking so you can pay everything off in an instant, not having to worry about the mail.

This way, you can just use it, pay it off, build up your credit, but not have to worry about interest.
 
StageLeft

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
Yes, just don't use it.

And no I'm not kidding. Just keep it but do not use it more than every several months to keep the account up and build some credit that way.
 
D

dighn

Lifer
Aug 12, 2001
22,820
4
81
get one for convenience if you can but don't use it like a "credit" card ie. only use it for convenience (Eg online purchases) when you actually have money in your bank.
 
J

Jmmsbnd007

Diamond Member
May 29, 2002
3,286
0
0
Yes, if you will pay the bill in full each month and you will only use it if you actually have the funds available if you didn't have the credit card. Also, you can never break those rules unless in extreme circumstances.
 
H

HappyPuppy

Lifer
Apr 5, 2001
16,997
2
71
No. If you can afford something you will have the cash to pay for it. If you can't afford it, but have a CC, you may succumb to the temptation to buy it anyway. You don't need credit right now. Have fun and enjoy being a kid while you can. It will change soon enough.
 
B

Beattie

Golden Member
Sep 6, 2001
1,774
0
0
Yes, get a card. Dont be a moron with it. Buy what you have money to cover buying and dont carry a balance. I have had a Credit card for 5 years and havent ever carried a balance.
 
D

dighn

Lifer
Aug 12, 2001
22,820
4
81
Originally posted by: HappyPuppy
No. If you can afford something you will have the cash to pay for it. If you can't afford it, but have a CC, you may succumb to the temptation to buy it anyway. You don't need credit right now. Have fun and enjoy being a kid while you can. It will change soon enough.
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what about online purchases? no cc = pain
 
L

LordJezo

Banned
May 16, 2001
8,140
1
0
I reccomend Blue for Students from Amex.

It has online banking and since it is an Amex card it will get you into the company, that way later on you will have an easier time getting a real Amex.

Make sure Citibank has online banking.. its a must.
 
W

wyvrn

Lifer
Feb 15, 2000
10,074
0
0
Without reading any replies, my answer is Yes but with several caveats. First of all, don't run it up to the limit. You will pay so much in fees and basically give away your financial freedom.

The smart thing to do is get a low-limit card, charge a couple of small items you normally buy (like groceries) and pay it off. Use it occasionally for everyday items and pay it off religiously. The credit history will serve you well when you buy a car or house.
 
S

Soybomb

Diamond Member
Jun 30, 2000
9,506
2
81
I love my citibank card, they've always offered me great service. Get one if you can control yourself.
 
C

crypticlogin

Diamond Member
Feb 6, 2001
4,047
0
0
I really have no need for it, but should I get one and start building my credit?
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Do it for building credit and not as a means to an instant loan. Once you're out of school you'll find having an established credit history helps in tons of things, e.g. securing a good rate on a car loan, car insurance may be easier/cheaper to get, and some employers do a credit check (if the job type is relevant, a poor or non-existent history might put you at a disadvantage), among other things.

And if you can get a rewards card, consider it a side benefit for being fiscally responsible.
 
M

Marauder-

Platinum Member
Nov 29, 1999
2,248
0
0
Yeah - I would get one - but not use it for large purchases. Just get it - make a gas payment on it once in a while and immediately send the CC company a check for that amount. You'll find yourself w/ a higher credit rating in no time and potentially lower rates for the future.
 
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