How Do You Manage Your Credit Cards?

[DrSzSoLDIeR]

So i haven't been able to get approved by any bank before of times i have went negative in the past with my checking account.

I just wanted to know what people thought are the best deals to apply for when getting a credit card?

How do people maintain what to buy and what not to buy at times when things are most needed?

What is a really good way to build credit faster (Making minimum payments that are asked for or just paying in full)?

Thanks Guys.

[JoshM]

You can build credit by getting a gas card.

[bobbycos]

making more than minimum payments and only having 2 or 3 credit cards, no more

i went into very negative credit when judy got laid off earlier this year and my paycheck was the only one coming in. unemployment turned her down because the scumbags at her job said that she wasn't laid off, only on "hiatus". a lawyer took care of that, she is back to work and we basically pay cash for 90% of everything

[angus67]

i started with a loan for my motorcycle. 11k, then, when i paid that off, took three years,got a loan for a 2005 full size van,(no, it doesnt have candy in it), two years in i got a fixed home loan for 1/4 mill, got a bunch of credit offers, picked a 7k limit from BOA. took five years, but thats what i did

[GunRunner]

i didnt have any credit, so to get my jeep my dad co-signed. then i was approved for a credit card thru Capitol One which started me with a $300 limit. The limit goes up after "X" amount of payments made on time. I think its up to $500 now but i rarely use it. Gas, and stuff I dont wanna drop the money on all at once..like tires. I try to pay atleast half the balance if I can.

[Slick_Nine]

After using my debit card and having a steady flow of income in my account BofA offered me a credit card, and then I got one from best buy. I used it to buy my PS3 and when the bill came I already had the money to pay it off. I only buy things that I can pay off when the bill comes so I avoid the interest. It's also good to have a low balance for rainy days, such as the day my car was stolen and then recovered... had to pay over $200 in impound fees

[AstroVannin]

#1 - Quit applying for shit, if youve been declined, chances are its going to continue until theres a positive change. Every time you apply for a credit product, theres a "hit" on your bureau, this lowers you credit score. Thats hurting you. The LAST thing any lender wants to see is a huge list of enquiries, it makes you looke like a "credit seeker" and therefore less credit worthy.

#2 - Get somthign with no intest and no payments for like a year or somthing. Pay it off in the 11th hour. That way it will show as being "paid as agreed" with a reporting time of 6 or 12 mos... depending on deal that is.

#3 - Secured credit card..... NOT PREPAID ! Normally, the deal is, you give the FI say $500 that they put in a GIC or whatever in your name. ITs held as security "just in case". You get a CC with the same value. As long as you use it and pay it, as agreed, it reports the the bureau as per normal, same as a regular CC. If you fuck up large and dont pay it, they can cash in your GIC and use that to pay the card off, other wise, it remains as it is and gains intrest. After say 6mos to a year, you can probably have the security removed.

[visualpoet]

We only use our CCs for emergencies, reservations and purchasing things you can't pay for with cash (plane tickets, online purchases, etc). We have two checking accounts, but never write checks. If we don't have the cash, we don't usually need to buy whatever it is. If you've gone negative ith your checking that many times, a CC is a sure route to bankruptcy. You might want to look into a money management course before you worry about going into debt for material things. Credit cards shouldn't be looked at as a way to buy things you can't afford. They should be used as a last resort. It's too easy to think you're okay because you pay the minimum balance, but it catches up eventually. That's why there are so many commercials about paying off your 5 figure cc debt for pennies on the dollar.

[MikeW]

Easy. Dont have them.

You can build credit by getting a gas card.

I cant even get one of those...

We only use our CCs for emergencies, reservations and purchasing things you can't pay for with cash (plane tickets, online purchases, etc). We have two checking accounts, but never write checks. If we don't have the cash, we don't usually need to buy whatever it is. If you've gone negative ith your checking that many times, a CC is a sure route to bankruptcy. You might want to look into a money management course before you worry about going into debt for material things. Credit cards shouldn't be looked at as a way to buy things you can't afford. They should be used as a last resort. It's too easy to think you're okay because you pay the minimum balance, but it catches up eventually. That's why there are so many commercials about paying off your 5 figure cc debt for pennies on the dollar.

^^Very smart man. That my way of looking at it. Hell, thast how it is cuz i dont a bank or CC, im all cash, so if i dont have the money fo rit, i dont get it. I dont think id ever have a CC even if i did have the credit. A checking acct/debit card is all i need.

[bobbycos]

A checking acct/debit card is all i need.

tahts all i need too, my Chase banking card works either debit or credit and i like that. some stores won't process a debit card as a credit even though the bank will do it like that.

[AstroVannin]

Easy. Dont have them.



That my way of looking at it. Hell, thast how it is cuz i dont a bank or CC, im all cash, so if i dont have the money fo rit, i dont get it. I dont think id ever have a CC even if i did have the credit. A checking acct/debit card is all i need.

It SOUNDS easy, and in theroy, I agree.

However, car rental, booking a hotel, ordering shit online are all things made easier with a CC. Just because you have one DOSENT mean you need to run a balance on it.

Its a convenience item and should be regarded as such. Thats why the intrest rates are higher. You're paying for the convenience. If you pay the bill on time all the time theres never any intrest anyways.

[MikeW]

Well nowadays, for the most part, or at least the things i do, a debit card will do just fine.

Paypal runs off a checking acct, and most debit cards can be ran as debit or credit.

[jas_r34]

i only use mine to buy gas. Took me 3 tries before i could get my CC eventhough ive never had 1 before. I try to spend only $100/month on it because i no i can pay it in full when the bill comes. Otherwise i just use cash/debit

[nope]

don't let your girl use it!

haha credit cards are evil.

[ActAccordingly]

get a secured credit card to start with and build your credit using that. even some gym memberships like bally's that lock you in for a year or two will build credit.
i was in the same position, couldn't get a card, not because of overdrawing but because i never had one. used a secured card for a while and then canceled it. i currently still don't have a credit card and use debit for everything (the way i figure, if you can't pay cash, you can't really afford it). the only things anyone ever needs to buy on credit is a house and maybe school loans. everything i've ever owned, including my cars, was bought with cash, mortgage is the only thing i currently have any payments for. takes a lot longer to buy stuff when you have to save for it, but it works for me.
good luck...