I just applied for a credit card.

[evilbutterfly]

"We look forward to serving you. You should receive your Capital One® credit card and Welcome Package within 7 to 10 business days."

Uhoh! =O

[IAAW]

Lol, EB is about to go splurge in the cash shop in MS. =O

[Twilight_Overlord]

buy cars and stuff. It's worth seven years of your life.

[TheRapingDragon]

Debit Card > Credit Card

[Neonatrias]

Originally Posted by TheRapingDragon

Debit Card > Credit Card

You don't get out much, do you? =/

[Kefit]

A debit card is infinitely better than a credit card. Of course, this requires actually having savings in the bank, which I guess might be a foreign concept to some of you guys.

But it astounds me why anyone would place themselves in debt to buy anything aside from a house or a car.

[talisman]

what kefit said... when I got my bank account for college they were all like "have a credit card" and I was like "no thanks irresponsible spending" and just took the debit.

[Tasselfoot]

Kefit and Talisman are correct (lol, third'd)...

and I can speak from the standpoint of having worked in banks from 16-21 (you can't even GET a solo checking account / debit card when you're 16... which sucked. I could handle money and work as a teller, but I couldn't get a debit card for my own account until I was 18) that debit > credit, for 99% of things.

Only negatives of debit: MUCH lower spending limit vs credit, for obvious security reasons. Fee to access cash most of the time (although cash advance on your CC has a HUGE interest rate), Potential to get double or triple frozen on purchases like gas (they'll freeze 60 bucks in your account for 48 hours when you pay for 20 bucks in gas, to verify/make sure it'll go through... this is sometimes, not always). Also builds credit.

Positives: no debt, no worrying about paying bills later on or high interest charges and poor credit rating, and ability to get cash back on purcahses.


Kinda sucked yesterday though. I don't have a CC and needed to buy my computer. Debit card has a 2k limit... computer was more. Went to my mother's and had to use her CC and then give her cash. A pain, but not that big of a deal.

Also sucks because my credit is fairly low. My phone, columbia house, and my checking accounts are decent credit builders... but a CC would really boost credit. Oh well, I'll just have to bank on Whorli's credit (hmm... maybe not such a good idea).

[TheRapingDragon]

Originally Posted by Tasselfoot

Kefit and Talisman are correct (lol, third'd)...

=[ You mean 4th'd

Originally Posted by TheRapingDragon

Debit Card > Credit Card

=[


Also:

You don't get out much, do you? =/

What? What has me going out got anything to do with it. A credit card can easily get you into debt, I have plenty of money that I can spend with my debit card, I don't need to go crazy.

[Grandiagod]

Credit card= Spending more money for something that you don't have the funds for anyway.

[stretchypanda]

I apply for credit cards in the stores I frequent because I know that retail stores will fire employees who don't get enough credit apps, but I only apply when there are huge savings to be had, then I usually shred the card and pay off whatever I bought that one time.

[nforcer06164]

Originally Posted by Neonatrias

You don't get out much, do you? =/

Neon, you just DRAIN your card like there's no tomorrow. My debit card has served me well =)

[emptiness]

If your gonna get a a credit card make sure you have a good credit score. Otherwise the banks wont trust that you could keep up with your spending. Whats in your wallet? haha just had to say that. i dont know what im sayin really...i have a debit card which is much safer. I wont get a credit card yet...

[Anticrombie0909]

Credit cards are ****ing retarded. Why do you think companies make most of their money from the 18-24 y/o age bracket?

Don't buy a credit card. You will overspend, miss a payment, etc, and pay for it with your credit rating later. Remember, those things last your entire life. Screw up now, and pay for it forever.

[Afrobean]

Originally Posted by Anticrombie0909

Credit cards are ****ing retarded. Why do you think companies make most of their money from the 18-24 y/o age bracket?

Don't buy a credit card. You will overspend, miss a payment, etc, and pay for it with your credit rating later. Remember, those things last your entire life. Screw up now, and pay for it forever.

That's if you're irresponsible. If you're responsible, and only buy what you can realistically pay back, then there should be no problem and you'll come out of it with a better credit rating.

[nforcer06164]

Originally Posted by Anticrombie0909

Credit cards are ****ing retarded. Why do you think companies make most of their money from the 18-24 y/o age bracket?

Don't buy a credit card. You will overspend, miss a payment, etc, and pay for it with your credit rating later. Remember, those things last your entire life. Screw up now, and pay for it forever.

I have one thing to say to this.

OH MY GOD ANTICROMBIE IS BACK.

[jewpinthethird]

I hate using my debit card. And I only use my credit card to make online purchases and to pay for gas and other car related things because I get a discount.

Other than that, I only use cash. Can't go wrong with cash.

[ckj846]

I would have to say that the option between a debit and credit card is based on your spending habits and your personality. Naturally (because I'm asian ^_^) I am VERY stingy with my money. Although I'm not one of those extreme asian who will only buy things (including food) that is on sale, I stay away from things I don't absolutely need that aren't at a reasonable price. Also, seeing that my job doesn't pay that much, I am used to not paying as much for things because I don't have enough funds coming in. I know everyone is going to go "BUT ZOMG ITZ DIFFERENT WHEN YOU MOVE OUT" but it is just more bills to pay with a higher income coming in. The way I look at it, if you are smart and responsible, a credit card is a good idea =)
O_o

[evilbutterfly]

I'm getting it to help my credit rating. My oldest sister screwed herself with credit card debt and don't worry, I won't repeat that. I realize that a credit card is basically just a loan from the bank, and I'm not going to use it unless it's something I would buy anyway. I know how much (more like how little) money I have and I don't spend much.

Like, I've had over 100 bucks sitting in my pocket for months now. I've seen things I wouldn't mind buying here and there but I dunno, I don't like spending money. I figured I might as well get a credit card now because well, might as well build up my credit rating every time I buy something, especially if I'm gonna be buying stuff anyway.

But really, I think it's funny. Capital One sent me this thing in the mail and so I went to the site and signed up. I've never had a job before, and I even told them I was unemployed on the site, but they still give me a credit card. It's like these bastards don't even care that they're stealing money away from poor stupid kids that don't know any better. =\

[talisman]

it's far easier to get a credit card if you're poor and dumb. They love those types... the people who only pay the minimums. Start em off with a nice 0% introductory rate, they miss a payment, all of a sudden the interest rate is 24% (which is a criminal rate, really, but it happens) and the people are like "wtf" and they're like "contract lol better read it next time oh and btw see this clause here? this means that if you **** up on another credit card or loan, we can raise your rates even higher. It's ok that you can't pay it, we've strategically set our minimum payments so that we still make an insane amount of profit."

edit: btw not saying you're poor or dumb... just making a semi-tangential comment.