credit score

[GrimNeo]

so do i have to pay to get a credit card? from a bank that is.

No

[lukky211111]

No

alrighty now this is a lot less complicated thank you all very much.

[MuffinTopMike]

Building a credit score is a good idea, and you really shouldn't have any problem securing a credit card. Credit at the moment is pretty cheap and the banks seem to be loaning to just about anyone (which isn't really a good thing). Just remember to stay on top of you payments, you don't want to be in serious debt at a young age.

[Yoinkerman]

wait so i have to give them money to put onto the card ?

That's right. Then they give you a credit card to use like a normal credit card.

Edit: this is for a "secured" card. You apply for a secured card if the credit card companies turn you down because you have bad or not enough credit. Or if you're really concerned about your spending habits and don't trust yourself with more freedom.

[lukky211111]

That's right. Then they give you a credit card to use like a normal credit card.

Edit: this is for a "secured" card. You apply for a secured card if the credit card companies turn you down because you have bad or not enough credit. Or if you're really concerned about your spending habits and don't trust yourself with more freedom.

ok so someone just told me i dont have to pay to get a credit card from a bank though?

[GrimNeo]

ok so someone just told me i dont have to pay to get a credit card from a bank though?

You don't have to pay. That other guy is talking about something his bank probably offers. Like a prepaid card. I think you will start out with a $500 limit.

[lukky211111]

You don't have to pay. That other guy is talking about something his bank probably offers. Like a prepaid card. I think you will start out with a $500 limit.

so your sure i wont have to pay to get a credit card through my bank?

[GrimNeo]

so your sure i wont have to pay to get a credit card through my bank?

You might have to pay a fee, Some banks and credit card companies have a fee but that depends on the type of credit card. I get credit cards without the fee.

[lukky211111]

You might have to pay a fee, Some banks and credit card companies have a fee but that depends on the type of credit card. I get credit cards without the fee.

how much of a fee is it usually?

[GrimNeo]

how much of a fee is it usually?

I am not sure. It depends on the company. I think they're $50 a year. http://www.creditcards.com/no-annual-fee.php I would contact the bank and apply with them if they offer a credit card. Ask for a student credit card.

[lukky211111]

I am not sure. It depends on the company. I think they're $50 a year. http://www.creditcards.com/no-annual-fee.php I would contact the bank and apply with them if they offer a credit card. Ask for a student credit card.

but im not a student?

[ErickS89]

Don't do what I did after high school, thankfully I got my shit paid for but it'll be a few years before everything drops so I can buy a house within the decade.

[lukky211111]

Don't do what I did after high school, thankfully I got my shit paid for but it'll be a few years before everything drops so I can buy a house within the decade.

if youd have read what i said youd know im just using it for gas to get my credit up nothing major.

[GrimNeo]

but im not a student?

Ok, just ask for the starter credit card. That's what I did. Also make sure you are not late on paying your monthly credit card bill. The late fee is extreme at most places. My bank is $45 if your a second late.

[ErickS89]

if youd have read what i said youd know im just using it for gas to get my credit up nothing major.

Never use more than 10% of the limit, so if the limit is 1K your actual limit is $100.

Most recommend 30% but using less is better.

[lukky211111]

Never use more than 10% of the limit, so if the limit is 1K your actual limit is $100.

Most recommend 30% but using less is better.

why

[ErickS89]

https://www.creditkarma.com/article/CreditCardUtilizationAndScore

This is why, less you use the better it helps you. They personally do not like if you use the limit every month, plus it shows you know how to manage the card.

[Yoinkerman]

I don't think you're ready for a credit card.

[lukky211111]

I don't think you're ready for a credit card.

and why is that?

[ErickS89]

I don't think you're ready for a credit card.

You described like 90%+ of the planet bud.

[Yoinkerman]

and why is that?

 

The questions you're asking lead me to believe you don't know enough about how credit cards in general operate as a tool.  This isn't a bad thing, and it's good you're asking questions, however I would find out more before trying to take the plunge.

[GrimNeo]

https://www.creditkarma.com/article/CreditCardUtilizationAndScore This is why, less you use the better it helps you. They personally do not like if you use the limit every month, plus it shows you know how to manage the card.

Depends on the credit card company. We love it when our customers use the full limit and stay in debt. We then hit them with interest  and make money off of them. Add on a couple late fees and your set.

 

But your right from a customer side its best to not use the limit. The credit card companies want you to max out the card and then they will raise your limit to get you to use it more.

 

I work for said bank and were number 1 bank on the planet. I'm not going to name the company.

[lukky211111]

The questions you're asking lead me to believe you don't know enough about how credit cards in general operate as a tool.  This isn't a bad thing, and it's good you're asking questions, however I would find out more before trying to take the plunge.

isnt that kinda obvious that im trying to do that now? or should i put up a giant sign?

[lukky211111]

Depends on the credit card company. We love it when our customers use the full limit and stay in debt. We then hit them with interest  and make money off of them. Add on a couple late fees and your set.

 

But your right from a customer side its best to not use the limit. The credit card companies want you to max out the card and then they will raise your limit to get you to use it more.

 

I work for said bank and were number 1 bank on the planet. I'm not going to name the company.

perfect then im gonna be asking you a ton of questions do i have to do the prepaid credit card? or will i get the option to use a normal credit card?

[ErickS89]

Go to your local bank or credit union and get a secured credit card, it's the same as a regular credit card but you set the limit with a deposit.