Why Do You Get Your First Credit Card?

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.

As you can see there are many ways to spend using credit. There are just as many ways to build your debt and ruin your credit report. Lenders may end up repossessing things you have purchased and collecting the things you’ve placed on collateral and eventually causing you to file for bankruptcy if you cannot pay your debt. Debt can be useful

One may decide to pay cash for everything but, there are reasons to focus on obtaining and keeping a good credit score. The first step toward understanding how credit affects ones’ life is to check the credit standing. One can get two of their credit scores for free on Credit.com. This completely free tool will break down the credit score into sections and give a grade for each. For example, how is the payment history, debt and other factors affecting your score, and get recommendations for steps that can be taken to improve ones’ credit. It is possible to get a free annual credit report from each of the major credit reporting agencies Equifax, Experian and TransUnion once every 12 months. This does not give the credit scores but, it does

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

(3) In order to get the best interest rates, on home mortgage loans or car loans you need to have good credit ratings, which enables you to borrow more money with less interest. However poor credit effects you the opposite way, it can also keep you from qualifying to rent a house / apartment, and denial of credit cards. Other issues you may have with bad credit, you may have to pay a security deposit on utilities, you might not get that phone contract you want, denied for employment, higher insurance premiums.

Making mistakes when it comes to your credit is a lesson that many people learn the hard way. Constant phone calls, mail, and threats can make a tough financial situation worse. Either how well or how poorly you manage your debts and finances are available to creditors to see when you apply for credit, such as for a retail store card, or even an auto or home

You can have lower insurances in bills, and you car is still like new. Your bank well trust you and that's how you earn credit.

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

For Rewards we advice to get a Barclay Rewards card. No annual fee, 2x rewards on gas, groceries and utilities.

Credit is good for America because it brought a lot of service to companies whose prices were too high to afford any other time. It is provided and available to nearly every family in the community. Installment credit also included disciplinary values

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 credit card that I learned about is a Visa credit card. The Visa Banana Republic credit card does not have an annual fee. The Annual percentage Rate is twenty-four percent. Some incentives that the credit card offers are five percent cash back to use in Banana Republic, Old Navy, or Gap. Another bonus is the user of the credit card receives two percent back for gas and groceries. It also gives one percent back for all other charges, which can be used at Banana Republic, Gap, or Old Navy.

Everyone has credit weather you know you have it or not everyone has credit. Most refer to it as a credit score. A credit score is number that is 3 digits that shows your credit. It ranges from 300-850 and to be considered having a good credit score you need to be in the range of 720. Some different credit options would be buying a car, going to college, taking a loan out of the bank, a credit card. Credit in the simplest of forms of explanation would be the ability of a customer to obtain goods or services before making any kind of

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.