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 Can you request a CC company to lower your available credit? |
And will it hurt your credit?
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 Credit experts, please help me out on this one? |
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 Credit card question? |
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 Is it too easy to get a credit card? - My opinion is yes what is yours tho!? |
I am 18 and bout 1 month and my bank has already given me a credit card through this supposid credit crunch where there ment to be hard to get.
I find this too easy since im just 18 whats ... |
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bluemami06 | What is the purpose of having a credit card? |
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 |
 
SPIFIMAN1
 |
1. Build credit.
2. Generate a paper trail of your spending.
3. Don't have to carry large amounts of money.
4. Earn cash back, airlines miles and rewards.
5. Use someone else's money interest free for 30-days.
Of course all of the above are are based on paying your credit cards off in full every month before the due date.
Never exceed 30% of your credit limit in any given month and never charge more then you can write a check for when the bill comes. |
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kta kta
 |
to establish credit, postpone paying on debts, live beyond your means.. take your pick.. Use them responsibly and they are a good tool. Use them irresponsibly and they will cause a lot of problems. |
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bdancer222
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It's a convenience. I don't have to carry cash or write checks. I get a monthly statement which comes in handy for tax purposes. And since I have a cash rewards credit card and I pay it in full every month, they pay me to use their money. |
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annie
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To make payments easy. To pay bills, to purchase something. |
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Katy I
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well... first of all it allows you to buy things when you don't actually have the money to buy it.. a lot of people go into debt because they buy things that they will never be able to pay back. i use my credit card to buy more expensive items that I know I can't pay for all at once but I know I will be able to pay for over the next three months... like furniture or a car repair. sometimes i will use my credit card even if i do have the money and pay it off right away. doing this helps to build credit. i would recommend getting a credit card through your bank and have it connected to another account that pays the payments automatically. doing this will help to build your credit. |
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TX Realtor
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Strangely enough, to establish credit for future purchases of items. |
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haaj
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to go into debt.... damn things!! |
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summer breeze
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I don't like to carry cash, so charge about everything. BUT, I pay off the entire balance every month, without fail. |
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1 Hr Bookkeeper
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There is a multitude of reasons. The original intent was to allow people to get things they would not be able to pay cash for, thereby allowing the average person to improve their way of life. At the same time, the banks can make a lot of money on this as well...so it is considered a win-win situation.
Credit can also help you when times are tough. Unfortunately, many people do not know that credit is a game and end up getting into trouble.
Having a credit card also means you get reported to the TRW's which tells banks if you are a good investment or not. If you have no credit, you could get denied when you need something simple like a house or a car, or you could get screwed on the interest rate. Check out the article below that tells a little bit more about making your credit rock.
Hope this helps |
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heybulldog
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The purpose of having credit card is to make banks rich and to keep you in debt.
I can use someone else's money for 30 days is one of the lamest reasons to have credit card that I have ever heard.
A paper trail? You can use a debit card and get a paper trail.
You don't have to carry large amounts of cash if you use checks or a debit card.
Rewards. You spend more with plastic. you spend even more to get the rewards.
As far as "building credit". The only thing that is good for is getting into debt.
Pay as you go. Live on less than you make and you will have money. If you have money you don't need to borrow money. If you don't borrow money you don't have to worship at the alter of the almighty fico score.
The only thing you might have to borrow money for is a home. You can do that with a 0 score. Manual underwriting. It's not a sub prime loan. It's the way it was done before the fico score. You can get the same low interest rates.
Debt free is the way to be! |
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