Quote:
|
I suggest no more than 1 card for now, prevent yourself from financing a car project. Use it a little each month, but pay off at EOM. Your car insurance, your cell phone bill, etc., get in your name and that will also help.
|
I agree with this.
Quote:
|
Thanks guys, I'm not really concerned about paying it off. I'm usually pretty good with my money (now I'm getting beat up a little building the car though). I think whatever card I get I'm just going to use to buy my chew each month (around $120).
|
I said the same thing in my early 20s. Now I'm in my late 30s, own a home, and support a family on a good salary, all of which is by the grace of God because I made a few big financial mistakes, some of which involved credit. Before you even apply for the first card, make sure that "pretty good with my money" is synonymous with knowing how to BUDGET. That means sitting down with your paycheck when you get it, STICKING SOME MONEY IN SAVINGS IMMEDIATELY (This is important, trust me), and figuring out exactly how much you have to spend on gas, food, bills, and fun. Having a card to build credit is good, but when your car has been sucking money from your wallet (Been there, done that), it's hard to resist the temptation to say, "Meh...I can pay for that crate motor over the course of a few months." The credit cards are only as good as the amount of money you have to pay the credit card bill before the bank starts getting a big chunk of your purchases. So, if you know that you only have $500 a paycheck to cover your credit card bills, a few purchases can add up fast and before you know it, you've got the sweetest car ever but you live in it.
Oh, and as an old man: Quitting chew = more car parts!
(Sorry, couldn't resist)