Starter Credit Cards Are One Of The Best Ways To Get Ahead

Credit cards have become increasingly popular world-wide, making it easier to buy now and pay later but are they actually helping or hindering someone’s credit? “Maxed Out” by James D. Scurlock demonstrates how credit cards can hurt someone’s credit, while “Why Won’t Anyone give Me a Credit Card” by Kevin O’Donnell demonstrates how someone may have financial stability to pay off a credit card, but still be consistently denied one by the credit card companies. Owning credit cards is not the problem; the problem is being irresponsible with it.

Credit cards can ruin any financial situation if used improperly. Let’s look at what our two financial authorities think about them. Dave Ramsey is completely against the idea of using credit cards. Being a devout Christian, he often finds his ways of financial teaching through The Bible. Proverbs 22:7 states “The rich rule over the poor, and the borrower is slave to the lender.” You are charged a premium for using a credit card in the form of interest. While you can pay off credit before the interest is charged, Dave insists that many people do not pay if off in time. It is better to get rid of the enticement altogether than to play with the idea of using a

Currently, I don’t have a credit card. All of my payments are made in cash of with my debit card. In the last lecture we learned that it is a good idea to get a credit card young so the credit can start building. Mr. Klassen says that he uses his card for the necessities that he has to buy anyway such as gas and groceries. I would like to implement that in my own spending habits once I get a credit card. I would keep my balances low by being responsible with how I use my card. In addition, I will start out with only one credit card. There is a lot of temptation to open up many cards with different companies, but with one card it is easier to keep track of your

Some lenders send out costly offers expecting that you 'll jump at the first card you are offered. These lenders add outrageous fees, which can total over $200, just to open an account. Some of the typical fees they charge are high annual fees, a one-time application fee, monthly fees if you are late or over limit, and of course an interest rate way over market rates, from 10% and up. The interest rate will get jacked up another 10-15% if you do go over your credit limit or are late with a payment. Not all lenders charge high fees and costs, so don 't just take the first offer you get in the mail. Before applying for a card, do a search for bad credit credit cards online, and look for cards from larger,

What are some things to look for when choosing a credit card? What does the video suggest about credit cards?

According to the retired CPA I interviewed, the three most important concepts for a young college student to understand are: (1) Credit History and Credit Scoring, (2) Financing Charges, and (3) the Annual Percentage Rate (APR) of Interest. As they relate to considering which credit card to use, my interview subject suggested that the most important factor is how using that card might affect my credit history in the long term, what the financing charges could be on purchases that are not paid off immediately or very soon after the initial purchase, particularly as a function of the APR.

I learned the fastest and easiest way to build your credit is to get added to your parent’s credit card, only if they have good credit thought. The credit range is 300- 850, with 850

During the Financial Fitness module I learned more about my credit score and how to improve it. I also learned the different ways a credit score is made up of. A credit score is usually used to see how likely you are to pay back money that you owe. Usually banks use them to issue loans or credit card companies’ use it to decide if they want to give you a credit card and how much they want to set your limit to. It is important to build your credit score up because it will benefit you in the future when you need to borrow money or even get a job. Some jobs check your credit score before they hire you. Also if you don’t pay a bill your credit score will go down after 30 days past the due date. Some advice I learn was to get a credit card when

The Bottom line is that before you get a credit card or any credit account, you should have a basic understanding of how your score is calculated and how to use your credit responsibly. You should know how to gain access to your credit reports and scores. After you’ve done that, you can start building your credit. Remember! Be very patient, building your credit takes time, but it will happen as long as you’re making the right credit

In the world of personal finances, credit cards play an important roles in lives of many people. Sometimes, it's out of choice while other times it happens out of necessity. Regardless of why it happens, the numbers surrounding credit card debt are worthy of scrutiny in order to determine whether having or using credit cards is a sound financial decision.

Once you have a good reputation on credit it gives you a better way of getting things faster and easier.

One of the mistakes people make when they are young is not realizing how important their credit score is and just how much it can affect them in the future. Sure, having a credit card can be liberating because you'll get to purchase the things you want and can enjoy that you have about 30 days until you actually have to pay for these items, but there are consequences to constantly swiping and taking this huge responsibility for granted. Although it is very likely that your credit score will

There are many things you should look for when choosing a credit card. First, you should look at the APR annual percentage rate of the cards. The APR can either be a fixed rate or a variable rate in different amounts. A fixed rate card, you know what the interest rate will be from month to month. A fixed interest rate can change though if you are late paying on it or going over the set credit limit. A variable rate can change month to month. Next, the credit limit should also be looked at. The

When it comes to finances, especially building credit, the options are pretty limited for a student with a part time job, juggling a higher education and some pocket change. Most student still live at home because they can’t afford to move out, or because they have not yet established a decent credit to do so. Students don’t need to have a credit history in order to get a credit card, a lot of credit card companies will give credit to students who either do not have credit or who have a bad credit, however the answer to good credit is, maintaining the credit card balance and avoiding high APR rates.

As far as credit cards are concerned three good reasons for obtaining one are; they aid you in establishing your credit score as well as history. Credit cards are also great if there is an emergency that requires immediate financial action and assistance. Lastly, credit cards offer many benefits such as cash back, rewards, and discounts. The negative effects of credit cards is that they often come with high fees and interest rates. One other negative drawback to obtaining a credit card is that individuals can get themselves into