yay! I just woke up and checked the mail

[DaWhim]

I'VE GOT A CREDIT CARD!!!

I don't remember when did I sign up for this! I have been trying to get one since june, but got rejected too many times. now, it just comes to me. this is universal entertainment student mastercard from Chase. have no idea where I get this. at least I only remember I signed up for one from citibank, but chase.

 

[T3C]

go and max it out right away!

 

[dabuddha]

Make sure theres no activation/annual fee before you activate it
Have fun and be careful, it's easy to get into debt. Very hard to get out

 

[pyonir]

Welcome to debt! YAY!

 

[DaWhim]

Originally posted by: dabuddha
Make sure theres no activation/annual fee before you activate it
Have fun and be careful, it's easy to get into debt. Very hard to get out

thanks for the advise, I need more info about this card. it just came to me for 1 reason, I am a college student.

 

[codeyf]

Originally posted by: cybpnk
go and max it out right away!

 

[Viper GTS]

Originally posted by: DaWhim

Originally posted by: dabuddha
Make sure theres no activation/annual fee before you activate it
Have fun and be careful, it's easy to get into debt. Very hard to get out

thanks for the advise, I need more info about this card. it just came to me for 1 reason, I am a college student.

That means it probably sucks.

24.99% normal APR, $99 yearly fee, no grace period on purchases, etc.

Read the fine print before you use it, I get offers like that all the time.

What do they think I am, stupid? I have a Sony rewards card with no fees @ 10.xx% interest, why in God's name would I want their card?

Viper GTS

 

[iamme]

Originally posted by: pyonir
Welcome to debt! YAY!

woohoo!

 

[bozo1]

You sure you didn't apply somewhere? It's illegal to send someone an unsolicited credit card.

 

[iotone]

what are you doing here?? get to Hot Deals / For Sale For Trade forums...

 

[notfred]

$500 limit and 24% interest rate, right?

 

[DaWhim]

I am still wondering what credit limit is....
APR is 17.9%
grace period is less than 20days.

I did applied to chase once, it is about 2 months ago.

 

[psianime]

My first credit card had a limit of $500 (amazing amount of money back when I didn't have any money) and it was a 19.8% APR.

Now it's a little better with $3000 limit and ONLY (haha) a 9.9% APR.

 

[DaWhim]

ok, just activated. I got $500 credit limit on this card.

 

[Viper GTS]

Originally posted by: notfred
$500 limit and 24% interest rate, right?

My first card had a $1200 limit & 15.99% interest.

I was happy.

That card is now up to a $7,800 limit & 10.xx%, I make good use of it (unfortunately).

Viper GTS

 

[edro]

I just got a Paypal credit card from Providian... 21%, $1000 limit... It is also my first card. I have had a Sears card before that though. w00t!

 

[Yossarian]

Originally posted by: DaWhim

grace period is less than 20days.

that card sucks. you will have to pay the bill before it arrives or you'll get hit with finance charges.

 

[Rob9874]

Don't use it!!!! I used credit sparingly when I was a college student. It's nice to finally be able to buy things when you don't have much money. People warned me against credit, but I said they just didn't understand what it was like to not have any money. I knew I would be responsible with it. Well, the first card maxes out before you know it. Then the next card comes in, and you max it out. Then you get department store cards, and charge clothes. Then you get checks in the mail for $5000 loans, and all you have to do to accept is deposit the check.

Granted, this happens slowly over 10 years. But now I'm 28, my wife and I bring home $6000/month, and every dime of our paychecks go to bills. We're renting, because we can't afford to buy. I charge nothing now (mainly because all my accounts are maxed out), but I hope I can use my experience to dissuade someone else from getting started. I didn't think it would happen to me either. I knew I would pay my balance veery month....yeah right. It's just smarter to buy stuff you can pay for with cash.

 

[dquan97]

A CC is a tool...a tool that can hurt OR help you. It's pretty evident on how CC debt hurts, but a CC can also bring in a lot of freebies. I have the Yahoo card that pretty much gives me a $25 GC every month after redeeming the points from purchases.

 

[MrCodeDude]

Go ask RossMAN on what you should buy first.
-- mrcodedude

 

[rh71]

<-- never understands why people would buy more than they can afford unless it's absolutely necessary. The finance rates are ridiculous on those things. Do you guys ever leave a balance ?

The only outstanding bills we have on credit cards are for the furniture we bought when we moved in... and those are on 0% cards till 2004.

 

[DaWhim]

I never plan to use it this credit card to purchase, since I can use my debit card as a credit card.

 

[StageLeft]

Originally posted by: rh71
<-- never understands why people would buy more than they can afford unless it's absolutely necessary. The finance rates are ridiculous on those things. Do you guys ever leave a balance ?

The only outstanding bills we have on credit cards are for the furniture we bought when we moved in... and those are on 0% cards till 2004.

Because people are often too shortsighted as to the long term repercussions of their actions. This is prevalent in society in various areas from personal finance to one's approach to health to education and any number of fields in which people appear to do particularly stupid things over and over.

 

[dxkj]

Originally posted by: DaWhim
I never plan to use it this credit card to purchase, since I can use my debit card as a credit card.

Ok, now that IS a mistake.... you need to establish credit. If you have 500 dollars in your bank account, feel free to use the credit card, just PAY IT OFF asap. I had 5k in my bank for wedding expenses, instead of using my debit card I used my credit card. Not only did I make 50 dollars cash back (oh baby), but it shows that I use the card, etc, bleh bleh bleh.


You get the picture.

 

[DaWhim]

Originally posted by: dxkj

Originally posted by: DaWhim
I never plan to use it this credit card to purchase, since I can use my debit card as a credit card.

Ok, now that IS a mistake.... you need to establish credit. If you have 500 dollars in your bank account, feel free to use the credit card, just PAY IT OFF asap. I had 5k in my bank for wedding expenses, instead of using my debit card I used my credit card. Not only did I make 50 dollars cash back (oh baby), but it shows that I use the card, etc, bleh bleh bleh.


You get the picture.

hehe, this is right. But I am waiting for a right credit card to do the cash back thing. this one won't do. so when want to get a retail credit card, I can use this card. this my debit card won't do.