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Need help picking a credit card


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#61 NinjaPenguin777

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Posted 19 March 2013 - 11:53 PM

What I did for my first cc was to go through my Credit Union (Grow Financial). I had a $500 credit limit (I was 19 or 20 at the time) and paid my bill in full and on time every month. Eventually I got sick of their crappy rewards and no credit limit increases so I applied for the Citi forward card. It gives me awesome rewards for shopping on Amazon and I can use the points I earn in general to shop on Amazon. They gave me a $4,000 credit limit to start. I was baffled by that. After a few months they increased it to $6,000. It is an awesome card.

As for your limit, you should be getting ~$500 depending on your financial situation. There would be no point in a cc limit under $200. You'll honestly just have to stick it out for a year or two with a crappy credit card then go for a better one. I've never paid attention to apr or anything or that nature beyond not having to pay some kind of yearly fee to use the card. American Express and Discover won't stop hounding me now which is one bad thing. They send me offers all the time in the mail.

As long as you're responsible there is no reason not to have a credit card. Only spend money on things you have money for. It's not hard to do. Also don't cancel you're starter card even if/when you get a better credit card. It's better to just keep the account open even if you don't use it.

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#62 elessar123

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Posted 20 March 2013 - 12:32 AM

Is there anything I need to know about credit limits? If I could get a card that had a $50 or $100 limit (that would be low tier right?) would that be fine to start out? I should still verify on any fees associated with those limits correct?


That is crazy low. If you use more than 30% of a credit card, it lowers your credit score.

#63 EnvyNeko

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Posted 20 March 2013 - 02:34 PM

That is crazy low. If you use more than 30% of a credit card, it lowers your credit score.



Yeah, I didn't think of that until after I had posted.


I haven't tried my bank yet so I'll have to give that a shot. Even if it's just a card I gotta start somewhere.
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#64 MrNinjaSquirrel

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Posted 20 March 2013 - 06:13 PM

Honestly, I'm gonna come out and say don't get one. The reason you don't have any credit is likely because you've never been in get (your FICO score is more than 50% made up of your debt history). Aside from rewards (which aren't usually very good outside of sign up bonuses) what do you need it for that a debit card can't do? Not wanting to start a debate on using credit cards, but they just make it so easy to fall into debt that it's a really risky thing to use
There's not a lot of logic to it. It's kind of like on a boat with "Women and children first."
I mean, why should they...

#65 toddacoco40

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Posted 20 March 2013 - 06:22 PM

Go for the Amazon card and pay your bill out every month. Next Problem please.

#66 dmaul1114

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Posted 20 March 2013 - 06:29 PM

Aside from rewards (which aren't usually very good outside of sign up bonuses) what do you need it for that a debit card can't do? Not wanting to start a debate on using credit cards, but they just make it so easy to fall into debt that it's a really risky thing to use


1. Start building up credit history by having credit available, not using a lot of it and paying your bills on time.

2. Security. Much easier to just dispute fraudulent charges on a credit card than waiting to get money back in your checking account if you get fraudulent charges on your debit card.

Of course a credit card does require the ability to be responsible and treat it like cash and never charge more than you can easily pay off in full each month. So if one lacks that self control, then yeah, probably best to hold off on getting a credit card.

#67 elessar123

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Posted 20 March 2013 - 07:38 PM

Honestly, I'm gonna come out and say don't get one. The reason you don't have any credit is likely because you've never been in get (your FICO score is more than 50% made up of your debt history). Aside from rewards (which aren't usually very good outside of sign up bonuses) what do you need it for that a debit card can't do? Not wanting to start a debate on using credit cards, but they just make it so easy to fall into debt that it's a really risky thing to use


That's horrible advice. My GF never had a credit card, and we co-signed a lot of things. My score is like 50+ points higher than hers when we co-signed on a car, and that's with a big ding from when I was young. When that ding dropped off, my credit was like 100+ points higher than hers. She finally got one, and be credit is improving rapidly just from the card.

Plus, I'll take 1-5% rewards any day over 0%. A couple hundred dollars extra a year for doing nothing extra is a lot to just toss away.

Here comes the real world advice. You only have to use your credit card every 3-4 months, charging any amount (my GF puts GMG purchases on there, so it fits the bill). Pay the balance off, even before your statement closes. Tada. Free credit history with no abuse.

#68 MrNinjaSquirrel

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Posted 20 March 2013 - 07:42 PM

That's horrible advice. My GF never had a credit card, and we co-signed a lot of things. My score is like 50+ points higher than hers when we co-signed on a car, and that's with a big ding from when I was young. When that ding dropped off, my credit was like 100+ points higher than hers. She finally got one, and be credit is improving rapidly just from the card.

Plus, I'll take 1-5% rewards any day over 0%. A couple hundred dollars extra a year for doing nothing extra is a lot to just toss away.

Here comes the real world advice. You only have to use your credit card every 3-4 months, charging any amount (my GF puts GMG purchases on there, so it fits the bill). Pay the balance off, even before your statement closes. Tada. Free credit history with no abuse.


that's all well and good, but I suppose it's really who's holding the card that matters. I just know it's way to easy to end up end debt with a credit card. Sure, you can only use it sometimes and always pay it off, but there is always the chance that something crazy could happen, like losing your job, getting in an accident, etc. that could make paying it impossible. Then they slap on the rediculous interest fees, and you find yourself in the endless cycle so many fall into. Again, I don't want to get in a debate, just in my opinion it's not worth the risk
There's not a lot of logic to it. It's kind of like on a boat with "Women and children first."
I mean, why should they...

#69 dmaul1114

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Posted 20 March 2013 - 08:12 PM

Again it just takes responsibility to not charge more than you already have cash in the bank to pay it off in full at the end of the month and not charge more than you could pay if you miss a paycheck etc.

So sure, don't get one if you think you lack that responsibility or have a very insecure employment situation etc.

Otherwise, if you have a stable job and are responsible it's silly not to have a credit card due to the easier security vs. using a debit card (especially for online purchases), reward programs and building up your credit score.

#70 NinjaPenguin777

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Posted 20 March 2013 - 10:05 PM

that's all well and good, but I suppose it's really who's holding the card that matters. I just know it's way to easy to end up end debt with a credit card. Sure, you can only use it sometimes and always pay it off, but there is always the chance that something crazy could happen, like losing your job, getting in an accident, etc. that could make paying it impossible. Then they slap on the rediculous interest fees, and you find yourself in the endless cycle so many fall into. Again, I don't want to get in a debate, just in my opinion it's not worth the risk


And how would that be any different with a debit card? Only difference is, if you only have a debit card and things start to spiral out of control then you have nothing to lean on and you would just get hit with overdraft fees.. Where as you can at least use the credit card as a crutch if you really needed to. If you aren't fiscally responsible enough to have a credit card then you shouldn't be handling money in the first place

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#71 MrNinjaSquirrel

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Posted 20 March 2013 - 10:16 PM

And how would that be any different with a debit card? Only difference is, if you only have a debit card and things start to spiral out of control then you have nothing to lean on and you would just get hit with overdraft fees.. Where as you can at least use the credit card as a crutch if you really needed to. If you aren't fiscally responsible enough to have a credit card then you shouldn't be handling money in the first place


You missed my point, but nevermind. It's your money, if you want a credit card go ahead and get one. Myself, I try to stay away from them, but everyone has different opinions.
There's not a lot of logic to it. It's kind of like on a boat with "Women and children first."
I mean, why should they...

#72 NinjaPenguin777

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Posted 20 March 2013 - 10:22 PM

You missed my point, but nevermind. It's your money, if you want a credit card go ahead and get one. Myself, I try to stay away from them, but everyone has different opinions.


Well then what would you propose if you got into an accident or w/e and you don't have a credit card? I already have two as I explained above. I have zero issue paying it all off every month. If you really can't manage a credit card then that is your fault. Not having credit when you go to buy a car or house sucks. And as someone above stated, what is the point in using a debit card/cash when you can get reward points for stuff you're going to get? They aren't awesome but it's something and you're essentially throwing away free money

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#73 MrNinjaSquirrel

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Posted 21 March 2013 - 03:05 AM

Well then what would you propose if you got into an accident or w/e and you don't have a credit card? I already have two as I explained above. I have zero issue paying it all off every month. If you really can't manage a credit card then that is your fault. Not having credit when you go to buy a car or house sucks. And as someone above stated, what is the point in using a debit card/cash when you can get reward points for stuff you're going to get? They aren't awesome but it's something and you're essentially throwing away free money


Well everyone should have an emergency fund with at least $1000 in it. Using a credit card will only make matters worse if you find yourself in trouble. Really, I'm not trying to sound like I'm some sort of better person for not using one, I was just advising the OP to think long and hard about if he really needs one.
There's not a lot of logic to it. It's kind of like on a boat with "Women and children first."
I mean, why should they...

#74 Spokker

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Posted 21 March 2013 - 04:35 AM

And forget about getting a job in my field when employers look at credit scores too!

You're going a bit too far in your paranoia here. You might even live in a state that banned the practice. There are eight of them.

#75 EnvyNeko

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Posted 21 March 2013 - 05:16 AM

Go for the Amazon card and pay your bill out every month. Next Problem please.


I was already declined for the Amazon card due to not having any credit history. If it was that easy I would've gotten one already.

You're going a bit too far in your paranoia here. You might even live in a state that banned the practice. There are eight of them.


Perhaps you're right. Just a little bitter over the crappy job market ^^;;

So far it seems like my only options are to either get a secured card (which I don't want) or to get a store card (like target) and build it up slowly until I can get a rewards card I like.


Well everyone should have an emergency fund with at least $1000 in it. Using a credit card will only make matters worse if you find yourself in trouble. Really, I'm not trying to sound like I'm some sort of better person for not using one, I was just advising the OP to think long and hard about if he really needs one.


Not everyone has that option honestly. I know I don't have an emergency fund set up and I'm trying to set aside money that doesn't go towards bills. I do agree with slickkill77 though. Credit cards are a lot of responsibility yes, but if you use them properly they'll be a huge asset. And having one around for emergency use isn't a horrible idea either as long as you can pay it off in the future.

Believe me, I have thought about this. I'm not just thinking of how cool it'd be to have a credit card in my wallet or something stupid like that. I'm looking for a good way to build up credit while still doing what I normally do anyway. I would like to be able to buy a house within a couple years and no credit history isn't cutting it.
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#76 62t

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Posted 21 March 2013 - 05:46 AM

Then get a store credit card. At this point you can't be too picky.

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#77 MrNinjaSquirrel

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Posted 21 March 2013 - 02:44 PM

Not everyone has that option honestly. I know I don't have an emergency fund set up and I'm trying to set aside money that doesn't go towards bills. I do agree with slickkill77 though. Credit cards are a lot of responsibility yes, but if you use them properly they'll be a huge asset. And having one around for emergency use isn't a horrible idea either as long as you can pay it off in the future.

Believe me, I have thought about this. I'm not just thinking of how cool it'd be to have a credit card in my wallet or something stupid like that. I'm looking for a good way to build up credit while still doing what I normally do anyway. I would like to be able to buy a house within a couple years and no credit history isn't cutting it.


Well I'd at least try to get a small one going if it's at all possible. Sounds like you know what your doing though, and aren't one of the thousands getting cards because, as you say, "they look cool". That's really not an exaggeration for most people sadly. Good luck picking a card, though obviously I don't really have any advice on which is best.
There's not a lot of logic to it. It's kind of like on a boat with "Women and children first."
I mean, why should they...

#78 irideabike

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Posted 21 March 2013 - 03:03 PM

From personal experience you need a credit card, you have to have credit to get any sort of loan. I was stuck in the we don't have credit and can't buy a house category when I was younger (with a 40% downpayment). It took a year and a half to build enough credit to get approved for the mortgage. I made sure my younger brother got his own card at 18 just so he could start building credit and not run into the same roadblocks I did. Credit cards aren't these magical evil pieces of plastic that can control your life. The easiest way to not get into trouble with them is don't buy things you couldn't buy with cash.

Perfect credit is one of the most important things you can attain. I was able to walk in and out of my credit union with a 30k car loan pre-approval for the car I wanted in under 10 minutes last week. Yes income goes a long way, but so does a high credit score.
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#79 MrNinjaSquirrel

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Posted 21 March 2013 - 03:15 PM

From personal experience you need a credit card, you have to have credit to get any sort of loan. I was stuck in the we don't have credit and can't buy a house category when I was younger (with a 40% downpayment). It took a year and a half to build enough credit to get approved for the mortgage. I made sure my younger brother got his own card at 18 just so he could start building credit and not run into the same roadblocks I did. Credit cards aren't these magical evil pieces of plastic that can control your life. The easiest way to not get into trouble with them is don't buy things you couldn't buy with cash.

Perfect credit is one of the most important things you can attain. I was able to walk in and out of my credit union with a 30k car loan pre-approval for the car I wanted in under 10 minutes last week. Yes income goes a long way, but so does a high credit score.


I'm not disagreeing with this, but it's clear the vast majority of card owners tend to wind up forgetting that credit isn't their money. If someone is already being super careful with their money, then a credit card likely won't change that, but many just get them because they are easy to use. Then years later they're still paying them off. It's all a matter of maturity, and that isn't something a person can always expect. Sorry for the rants, clearly the people of CAG are better at controlling their spending than the average joe. I'm not trying to get in a fight here
There's not a lot of logic to it. It's kind of like on a boat with "Women and children first."
I mean, why should they...

#80 dmaul1114

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Posted 21 March 2013 - 03:24 PM

No one is disputing that. It has been said repeatedly that people who are immature and irresponsible with money shouldn't get a credit card until that changes.

Credit is a necessary thing in today's society unless you want to rent for ever and live in a city where you can just use public transit etc as you'll never be able to buy a house or get a decent car loan if you don't have a history of using lower levels of credit responsibly.

But of course their is danger in running up bad credit card debt and wrecking your credit history. So one does have to be mature and responsible enough with money to treat it like cash as the goal should be to never pay a cent of interest by treating it as cash, keeping a close budget if you're on a tight income and making sure you can always pay it in full each month even if you missed a paycheck from losing a job or whatever.

So one should definitely save up at least a small rainy day fund (three months or so of expenses at a minimum) before using a credit card probably as that's the first step to being financially responsible. And then work on building that nest egg up to at least six months of expenses and start using the card for most every purchase to build credit and reap the free rewards once you have a decent reward card.

More simply, one has to be able to manage money, credit and debt in today's society. So while one does have to be careful with their first credit card if they lack the experience, one has to start somewhere and a credit card with a lower limit is a great starting point to both build credit and start learning how to manage your finances etc.

#81 Confucius

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Posted 21 March 2013 - 03:24 PM

I'm not disagreeing with this, but it's clear the vast majority of card owners tend to wind up forgetting that credit isn't their money. If someone is already being super careful with their money, then a credit card likely won't change that, but many just get them because they are easy to use. Then years later they're still paying them off. It's all a matter of maturity, and that isn't something a person can always expect. Sorry for the rants, clearly the people of CAG are better at controlling their spending than the average joe. I'm not trying to get in a fight here



Here's what it boils down to:

If you are a dumbass, then you'll be a dumbass with or without a credit card.

if you are not a dumbass, then not having a credit card is just silly. It builds credit. It gives you rewards. It gives you price and product protection.

So, if you have no self control, then don't get a credit card. But if you know what you're doing, then there's absolutely no point in not getting one. There's only upside.

If you want to buy a house, unless you have all cash (and really, if you have all cash, power to you), then you need a credit history.

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#82 Spokker

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Posted 21 March 2013 - 03:31 PM

Credit not only determines whether or not you get a loan, but also your interest rate. But it's not the only factor. While the usual credit score does not factor in things like your occupation or anything not on your actual credit report, the lender can consider anything not already prohibited by law.

So two people come to you wanting to get a $12,000 loan for a car, both with no credit history. Who will you be more likely to lend to on more favorable terms, the college graduate or a high school dropout? Probably the college graduate. Though the college graduate with a good credit history will get a lower interest rate than both of them, all other things being equal.

People with no credit do get car loans, and not necessarily from those shady used car joints. My girlfriend did buy a car from Hyundai with no credit history in her law school days, though she did pay a higher interest rate than she otherwise would have. The loan was eventually paid in full. She will get a lower interest rate next time.

Basically, your credit history is what makes you an individual, otherwise the lender will have to rely on group averages not prohibited by law.

#83 irideabike

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Posted 21 March 2013 - 03:37 PM

Yup that is true Spokker. I walked in and got 2.99% at the credit union, and also qualified for 0% at the dealership (obviously took the dealership). Had my credit been bad, it would cost me quite a bit more for my loan.

Squirrel, you can't fix stupid. If you can't control your spending and are too retarded to not spend more than you have on day to day living don't get a credit card. If you have an ounce of sense, get a credit card, make purchases you can afford, and pay off your bill every month. If you can't do that, get the card, make a charge every 6 months, and build credit. You'd have to be stupid to not want to build credit in today's world. Also, when I say "you" I am not referring the poster "squirrel", it is a general term.
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#84 Confucius

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Posted 21 March 2013 - 03:42 PM

There's a big difference between trying to get a $12000 car loan with very little down or even 0 money down and trying to buy a $200,000 house with $100k down. Which is the higher risk to a lender?

And like you said, no credit history meant she paid more for that loan than she otherwise needed to.

To me, building a credit history is part of becoming an adult. You're gonna have to do it eventually. Might as well get it out of the way.

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#85 MrNinjaSquirrel

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Posted 21 March 2013 - 04:26 PM

ok, I get it, building credit is important for getting loans and such. I just prefer to use only cash or debit, as it gives me peace of mind not having to pay another bill. I'm sure I'll wind up getting a card at some point, but I don't need one at the present time or plan on taking out any huge loans in the near future. I am perfectly capable of controlling my spending, I just don't want the stress that a credit card would give me (heck, I get stressed paying ebay fees). I'm probably sound old fashioned, and stupid, but it's a personal decision.
There's not a lot of logic to it. It's kind of like on a boat with "Women and children first."
I mean, why should they...

#86 dodgeme

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Posted 21 March 2013 - 04:31 PM

Personally I hate having my Credit Cards. Makes me buy things I cant afford at the time lol. But I suppose I am glad I had enough credit to get my MacBook Pro for no interest if I pay it off in a year.
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#87 Bug42

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Posted 21 March 2013 - 04:32 PM

Don't get any credit card. If your worried that your name is not coming up on credit checks, don't. If you want something, save up for it, and then get it. If you are unable to save for the item, then you don't need it.

I currently have 0 credit cards. Anything I want I save for. I own my own home, and 2 cars. I have an OK job and 0 debit. (except for the my house)

(you can get a house loan if your down payment is big enough)

#88 Spokker

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Posted 21 March 2013 - 04:41 PM

Credit cards are not the only thing that builds up a credit history. If you are worried about this just go get your free credit report. Is there something there that is being paid on time each payment period? Then you are building credit. Everything that is on the report is that determines your credit score that they won't let you see unless you pay them. You can kind of guess if it's good or bad based on the report itself. I'm probably going to run mine tonight since it's been over a year I think. I've never seen the actual score but I'm not worried about it.

#89 irideabike

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Posted 21 March 2013 - 04:49 PM

Don't get any credit card. If your worried that your name is not coming up on credit checks, don't. If you want something, save up for it, and then get it. If you are unable to save for the item, then you don't need it.

I currently have 0 credit cards. Anything I want I save for. I own my own home, and 2 cars. I have an OK job and 0 debit. (except for the my house)

(you can get a house loan if your down payment is big enough)


Good luck with that last part in today's marketplace.

I don't understand why people are so scared of credit cards. You can go ahead and pay cash for everything you get, but I'm going to pay with my card, get 3% cash back, don't have to keep track of my receipt, many times add a year to any existing warranties, and pay the bill at the end of the month, all while spending less than you did. You don't have to spend more than you own just because you have a piece of plastic in your wallet.

Also, Spokker you are right about that they aren't. The others are car loans, personal loans, and mortgages. All three are things that typically are easier to get if you have pre-existing credit, something that is most easily built via a credit card.
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#90 dmaul1114

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Posted 21 March 2013 - 04:54 PM

Exactly. It's all just personal responsibility.

It makes no sense for people who are big on bargains, saving money, building savings etc. to not have a credit card with a good rewards program. They've shown they're smart with their money (and thus not at risk of wracking up too much CC debt), but they're turning down a chance to earn cashback rewards just from using the card instead of cash/debit. As well as added warranties, better fraud protection and the various other things cards offer.

To each their own of course. It just seems unwise to not use a credit card if you're smart with your money and will never spend more than you would if buying things with cash.