Stuff and SPEAKING OF CREDIT CARDS...

[obliviousally_lj]

Can anyone give me any advice on that subject? I don't want to just go running into that with no knowledge.

And, no, 'don't ever get one!!!!' is not the advice I'm looking for.

Comments

[tixen.livejournal.com]

Who do you bank with? Getting a card through your local bank is the /best/ way you could possibly go for. In addition to being easier to manage and usually at a lower interest rate, they'll be more likely to give you a card because they've seen how you deal with money first hand.

[obliviousally.livejournal.com]

That's what I'm thinking of yeah. Cause my bank (Huntington), does offer credit though them.

[tixen.livejournal.com]

Then go that route. Working through a third party always involves spending more money on the same amount of credit.

...unless you have really fucking good credit.

[suzanami.livejournal.com]

depends on what you need it for. i don't have one yet, but when i get one it'll be for internet things and to establish credit. my mom said to get a low limit on it and pay it off every month, even if it means being a little short now and then. the big thing she emphasized to me was getting one with a low limit so you don't get yourself in debt.

[obliviousally.livejournal.com]

Yeah, I'm definately aiming for a low limit (under $1000!!). I've beed avoiding even considering getting one up until now. But, with the fact that my checks are eaten up by bills and they're BIWEEKLY (which kills me, it really does. I can manage weekly checks SO much better, even if it's a little less at a time). And then, whatever's left goes to food and gas (AUGH!) and personal things. Then I'm left with, like, a week where I have very, very little money. So, having something to fall back on for emergencies would be wonderful.

*random passer-by advice*

[faisdodo.livejournal.com]

it sounds like you're more in need of setting up a budget before getting a credit card. i know that if you don't make much, budgeting seems impossible, but what you ideally need is an emergency savings account, not an emergency credit card. it's way, WAY too easy to have a credit card where the balance gets out of hand. :/

something you might want to look into are high-yield savings accounts. you can open one for free online through banks like ING Orange or Emigrant (neither of these banks requires a minimum balance, so you could start with $1). They have anywhere from a 3.5%-5% interest rate, not a measley .5% interest rate like your bank probably does.

if you have trouble with managing biweekly checks, why don't you split them up yourself? pay yourself half the check one week and sock the rest away, which you "pay" yourself with the next week.

this blog has great financial/money/budget advice (http://www.getrichslowly.org/blog/), it's never too early to start learning about finances because it's so easy to get yourself in trouble, especially when you're young!

[sonofberkowitz.livejournal.com]

I'd say the bank is a good way to go, because it's easier to pay off if you're just shifting money around on their system.

If you can't get credit through them, though, you could be able to get it through a retail store that does credit, like Target. It's fairly easy to get approved just for their in-store card. The only problem is they tend to have a high interest rate. I'd suggest getting around that by paying off whatever you charged the same day, but that seems to go against what you need the card for. It's a good way to start building credit, though.

[tune.livejournal.com]

eh, one thing i know about bank credit cards is that if you decide to default on them they just eat your bank account.
that's all i know though :P

[lobar.livejournal.com]

Even if it's just an emergency card, use it once a month on something small and then pay the balance off in full at the end of the month to help establish good credit. I use mine for gas.

[thewerekitty.livejournal.com]

Credit cards are messy.
If it says you can get a computer at $28 dollars a month at bestbuy. It's probably for 48 months, and at a high interest rate. My hubby got sucked into one of those. He was like, no its not a credit card, and I'm like, yes it is. It was supposed to be $14 a month. then the statement came asking for $49 dollars a month. It turns out that the minimum payment was miscalculated and the interest rate should have been higher. They "corrected" the mistake on the first statement. ;shrugs; Sometimes they can raise the interest rate without notice as well.

Personally, I don't suggest getting a credit card, except one for emergencies... you can slowly build the credit on it by putting a small amount on it each month and paying it off. Ex: $20 dollars for gas. But they can get out of hand using them. Ex: I had at one point $5000 of credit card debt, but it was due to emergencies : car repairs. Because a credit union denied me a small loan at a lower APR.