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  #16  
Old 07-31-2014, 09:11 AM
Aneta Aneta is offline
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Join Date: Jul 2014
Posts: 5
Default Re: very first credit card

I'm still thinking about my first credit card.
I don't want financial problems in the future. My expenses are really different every month and I'm afraid that one day I could regret this decision...
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  #17  
Old 09-01-2014, 07:06 AM
brylemartin12 brylemartin12 is offline
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Default Re: very first credit card

My friends also asking me to apply for a credit card. What are the benefits of having one? And also the requirements.
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  #18  
Old 09-01-2014, 01:53 PM
Pedrots Pedrots is offline
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Default Re: very first credit card

First of all, Credit Cards are amongst the most expensive ways of financing. In my country the annual interest rate exceeds 50%.

IMO the healthiest way to use it is preventing rolling debt from month to month, that means using it for extremes necesseties only, and when you know 100% you will pay its outstanding balance next month especially if you have high income volatility. Otherwise try to get a couple of hundred dollars from a relative or a friend if you are too squeezed with expenses in a particular month.

Healthy uses: It is the beginning of the month and you need to buy something NOW, but you know what when you get paid at the end of the month you will be able to settle it. Buy it now, and when you get paid settle your credit card and end with zero balance (within the month or before your monthly invoice date)

You can easily build up huge amounts of debt if you don't pay its outstanding balance month to month given the huge interest rates.

In my case, I use it under certain conditions like paying monthly without interest:
For example my gym membership was $300 upfront for 6 months (you get a discount if you pay upfront vs. paying month-to-month), but my credit card allows me to pay $50 each month (for 6 months) with zero interest.

Also I use it to smooth my expenses on a monthly basis. If I buy a TV and if I can pay it on monthly payments with zero interest I will do it, to avoid having a huge expense in a particular month.
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  #19  
Old 09-06-2014, 07:25 AM
William_Sze William_Sze is offline
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Join Date: Jun 2014
Posts: 24
Default Re: very first credit card

you are right first credit card that moment is very exciting. but my suggetion is if you use it proper way and care its good for you. i am also thinking like you when i am taking the card from Alliance Bankcard Services.
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  #20  
Old 12-25-2014, 11:09 PM
clearskycredit clearskycredit is offline
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Join Date: Aug 2010
Location: florida
Posts: 13
Default Re: very first credit card

Getting a credit card is a good move...just make sure you pay the balance in full every month and only spend on it as you would with a debit card - only spend money you can afford to pay of the same month!
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  #21  
Old 01-09-2015, 10:25 AM
William_Sze William_Sze is offline
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Default Re: very first credit card

right kunaal_s , First credit cards are always special, as my experience when i got my first credit card from Alliance Bankcard i had felt very happy and i had gone for shopping with my girl fiend and we were shopping lot and cross the daily limit.

so you can also try the merchant.
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  #22  
Old 02-09-2015, 07:27 AM
William_Sze William_Sze is offline
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Default Re: very first credit card

thanks all, all the tips are very good

Last edited by William_Sze; 02-09-2015 at 07:30 AM.
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