Does anyone have a credit card specifically for their car?

[npor]

I was thinking to myself. I've got a few maintenance things I need to do to my car. Some bushings, new suspension, an alignment, and a few other small things.

While the bushings, and alignment aren't very expensive, the suspension is, and all of the small things add up.

Me being in college, I don't have a job. I've applied to a number of local places, but nobody is hiring. (go figure)

In a month and a half when I move back to Savannah for the summer, I'll have a job, I've already got it lined up.

Anyway, what my point is, is that I don't have the cash on hand for these general maintenance things. Do any of you guys have a credit card especially for your car, and any maint. problems that might happen to it?

I've never had a credit card before, but my credit is great because my parents have put every single thing in my name since I moved up here for college, while they were footing the bill because it's all been education related expenses.

Anyone care to drop some knowledge?

Is it a good idea, what company to look into, ect.

[Pandemic]

Golden rule when you own a credit card: Don't spend what you don't have.

[Shag Wagon]

And dont go with a paypal credit card haha

[Blk EX Coupe]

Golden rule when you own a credit card: Don't spend what you don't have.

Best advice right here. I've watched some of my friends dump so much money into their cars on credit cards and they're just screwed now since they lost their jobs. Now they're coming to me to ask to borrow 25-50 bucks to make a minimum payment on their cards.


To answer your question: yes, I do have a credit card dedicated to my car parts and maintenance. It was the first credit card I got when I turned 18 (I'm 22 now), so now it has a fairly low APR and relatively low limit compared to my other cards. It only allows me to spend 1k a month on my cars if I need to, so it prevents me from going overboard buying parts if I can't afford it.

I have another card for gas, restaurant, and bar tabs. I found it was easier for me to put different purchases on different cards, so at the end of the month or year I could see how much I spent on each hobby of mine. That way it makes it easier for me to budget my expenses for the future. For example: if the month coming up has a bunch of car events (usually summer time) I'll spend more on cars that month than going out, but if I know there are a lot of parties and events coming up I'll plan to spend more on going out and cut back on my car stuff.

[npor]

Ah. See, this card would be only for maintenance/repairs. So some months, I probably wouldn't even touch it.

It'd be more of a "just in case" kinda card.

[renegade28x]

im 18 n just got a credit card and used it for school n parking n books n lab fees...its not bad if u have a good job n it fits into ur budget..minimum is 35 a month for me ($480 on a 500 credit line) n i pay 75 cuz i wanna pay it off so i can pay for summer classes n books...but i have it stashed away so i dont use it anymore

it takes discipline and someone else to hold you accountable and check on you...

id use it for maintenance and not just buy WHATEVER you want...it gets addicting man and having no credit (or in ur case a lil good credit) is better then BAD credit just my thoughts...

[Blk EX Coupe]

Ah. See, this card would be only for maintenance/repairs. So some months, I probably wouldn't even touch it.

It'd be more of a "just in case" kinda card.

You want the card to have regular activity though. Maybe get gas on it once a month when you don't need to use it for maintenance.

[cvc7chris]

i'm against credit cards. if i can't afford it i don't even try...

[Rusty]

Golden rule when you own a credit card: Don't spend what you don't have.

this doesn't apply to everyone though.

I only use my CC when I don't have the ability to pay cash but I'll easily be able to pay the monthly fees. For example I had to buy school books this past semester. My books run me about $950. I don't have that up front so i use my CC and I'll pay it down w/in a few months.

Or another Example was when I had to have my Wisdom teeth pulled and it cost me almost $4000 (no insurance) Obviously I didn't have that kind of cash so i got a special CC. My minimum on this card is about $59 a month but I pay $150.

If these are things that you definitely Need, and you know at least until you get back home you'll be able to afford the Monthly payments go ahead and get the CC. But once you get home and start working do everything you can to pay the cards down

[gloryaccordy]

I need to get off the CC drug... trying to pay off about 2500 in the next 2 months

I wouldn't do it.... just pay cash

[renegade28x]

egh! ur gna get mixed reviews on this topic...but since ur younger ur knda curious bout it...and u wanna build credit and prove ur responsible so here ya go...

MY OPINION

If you can afford at least like 50 a month (prolly $500 charged) itll take a year to pay it off....so u shud pay 75 to 100...thats at like a 19% APR..

ask someone to explain the math of interest to ya if u dnt know...as long as u dnt go too high and you have an income u shud b fine if you keep it under 500 bux

[ChIoVnIdCa]

Get the card ... Dont put much on it... Save it for if you are screwed.... ex.. If you dont fix a certain issue you don't have a car..

[excalibur02]

this doesn't apply to everyone though.

another Example was when I had to have my Wisdom teeth pulled and it cost me almost $4000 (no insurance) Obviously I didn't have that kind of cash so i got a special CC. My minimum on this card is about $59 a month but I pay $150.

Holy crap that's a lot of money! I did some fillings here (nj) then my dentist said I needed to take out 2 of my wisdom teeth. The other grew out fine. I didn't do them.

Then in october I went to my birth country (colombia) and got lasik and my wisdom teeth removed all for under $1000 lol.

I did end up putting that on a cc, but once I got back I got paid and it all went away lol

I need to get off the CC drug... trying to pay off about 2500 in the next 2 months

I wouldn't do it.... just pay cash

You can do it!


For the OP, I have a cc for my car. At one point I put up to 2500 on parts and services.. but its all gone now. Paid it off before they boosted my apr.

look at the interest and see how much you will be spending and how much you will be paying monthly.

Be wise and don't get in to deep!

[gloryaccordy]

Think about it like this...

The money u spend paying back a CC has to come from somewhere and u get raped with finance charges. Why not just be more financially responsible and build a nest egg? My girl has enough in the bank to not work for ~1.5 years and she does NOT make a lot of money at all