credit cards... - Financial Management

s. rosa · 11-01-2007, 11:52 AM

dh and i pretty much have no credit. i've never had a credit card, always used my debit card for everything because to me it's easier and i know i won't be spending money i don't have. dh did the same thing.

i was thinking that maybe we should get a credit card like, specifically for grocery or gas use, and then pay it off (in full, not just the minimum) every month. that way, we'd be spending the same money because it would *only* be food or gas, but building our credit at the same time.

i'm just afraid i won't have the willpower for it

but we are adults now and need to start building our credit. we almost didn't get our apartment here because of it, the only reason we did was because of my private investment account.

so, do you think this is a good idea? i've heard about points, cash back rewards, etc...what would you suggest is the best route to go?

Felicia · 11-01-2007, 11:54 AM

We've been considering getting a credit card for things like that in order to help build our credit as well. Right now the only credit card we have is the Star card, but it would be nice to have more credit.

rosebud* · 11-01-2007, 12:08 PM

credit cards are sticky...nothing sucks worse than thinking you can handle it, but find out you can't. If you get one I suggest getting one that has some reward on it, but without an annual fee. Look for something that either gives you cash back or points without a lot of restrictions. Also don't keep it in your wallet. take it with you only when you are going to go grocery shopping or get gas. having it in your wallet 24/7 makes for some really bad impulse buys.

Rachael · 11-01-2007, 12:09 PM

I would say to get one, and then you can call customer service once you are approved and tell them you want a $500 limit and no increase in credit available. It helps with your credit score

Shep's Wife · 11-01-2007, 12:10 PM

I would start out with a low limit one like through USAA and start out there. Also the military card, I am not sure what the Army one is. That is a good start too.

AG2Wife · 11-01-2007, 12:12 PM

DH & I built up our credit by taking out small loans with low interest rates & paid them off with in 6 months. I would look into CCs with your banking institution as it might be more safe than going with say something you get in the mail....

11-01-2007, 11:52 AM	#1 (permalink)
s. rosa MilitarySOS Jewel Join Date: Jul 2006 Location: Fort Lewis WA Posts: 3,515 Classifieds: (0) Activity: 33% Longevity: 57%	credit cards... dh and i pretty much have no credit. i've never had a credit card, always used my debit card for everything because to me it's easier and i know i won't be spending money i don't have. dh did the same thing. i was thinking that maybe we should get a credit card like, specifically for grocery or gas use, and then pay it off (in full, not just the minimum) every month. that way, we'd be spending the same money because it would only be food or gas, but building our credit at the same time. i'm just afraid i won't have the willpower for it but we are adults now and need to start building our credit. we almost didn't get our apartment here because of it, the only reason we did was because of my private investment account. so, do you think this is a good idea? i've heard about points, cash back rewards, etc...what would you suggest is the best route to go? __________________

11-01-2007, 11:54 AM	#2 (permalink)
Felicia Senior Member Join Date: Aug 2007 Location: Ft. Gordon, GA Posts: 3,017 Classifieds: (0) Activity: 21% Longevity: 38%	We've been considering getting a credit card for things like that in order to help build our credit as well. Right now the only credit card we have is the Star card, but it would be nice to have more credit. __________________

11-01-2007, 12:08 PM	#3 (permalink)
rosebud* rosebud*<3 Brittany Jo && <3 thekels9 Join Date: Nov 2005 Location: [wherever his heart is] Posts: 32,651 Blog Entries: 2 Classifieds: (0) Activity: 45% Longevity: 67%	credit cards are sticky...nothing sucks worse than thinking you can handle it, but find out you can't. If you get one I suggest getting one that has some reward on it, but without an annual fee. Look for something that either gives you cash back or points without a lot of restrictions. Also don't keep it in your wallet. take it with you only when you are going to go grocery shopping or get gas. having it in your wallet 24/7 makes for some really bad impulse buys. __________________

11-01-2007, 12:09 PM	#4 (permalink)
Rachael Lil Wayne's Future Wifey Join Date: Jan 2004 Location: San Diego, CA Posts: 23,718 Classifieds: (1) Activity: 11% Longevity: 99%	I would say to get one, and then you can call customer service once you are approved and tell them you want a $500 limit and no increase in credit available. It helps with your credit score __________________ Fall seven times, stand up eight. Japanese proverb http://www.thegourmetcupboard.com Independent Distributor #4313 Biggest Loser Team Purple!! Mrs Ski and myself!!!

11-01-2007, 12:12 PM	#6 (permalink)
AG2Wife Wife of a weather guy, mom to a toddler tornado! Join Date: Mar 2006 Location: Texas Posts: 4,706 Classifieds: (0) Activity: 1% Longevity: 62%	DH & I built up our credit by taking out small loans with low interest rates & paid them off with in 6 months. I would look into CCs with your banking institution as it might be more safe than going with say something you get in the mail.... __________________

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11-01-2007, 12:10 PM	#5 (permalink)
Shep's Wife Senior Member Join Date: Mar 2006 Posts: 7,921 Classifieds: (0) Activity: 6% Longevity: 62%	I would start out with a low limit one like through USAA and start out there. Also the military card, I am not sure what the Army one is. That is a good start too.