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Thread: Credit Card Newbie

  1. Senior Member
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    #1

    Credit Card Newbie

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    I applied and was accepted for a Discover student card with cashback rewards. I want to build some credit up now but have never had a CC before. Is there any problem in using it for the majority of my purchases and just paying it off fully each month? I wouldn't use it unless I had the money (I'd use it more like a debit card).

    Thanks!

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    #2
    Nope, no problem at all. Just make sure you don't go over your limit, and that you pay it off when you get the bill That's how most people establish their credit in the beginning.

    be cool.
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    #3
    I follow the rule of not utilizing more than 50% of my available credit unless there is an emergency. Just be sure to pay it all off each month, it's so easy to say you will and then not.
    Never do anything halfway unless you want to be half happy.

    Is this a dream? If it is, please don't wake me from this high. I'd become comfortably numb
    until you opened up my eyes to what it's like when everything is right...I can't believe you found me ♥
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    #4
    Yeah that is a good way to do it. Also if you are not able to pay it off all at once having too high of a balance tends to have a negative affect on your score after awhile.
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    #5
    Honestly, my friends that used it as a debit card ended up not paying it off every month because they couldn't see the money coming out of the account and now have a bunch of CC debt to pay off. I only use mine for "bigger" purchases, like books. Otherwise I would buy pizza once a month. You don't have to have several purchases on it every month to build up credit, just the occasional purchase. Plus, if you keep it mostly open, if there is an emergency, you can use it then. For example - DH was buying tools for school. We have enough money in our accounts to cover it, but I would rather keep a balance in his account of $1,000. So we bought the tools using my credit card until he gets a paycheck to keep his balance up.
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    #6
    Thanks guys,

    I've had a debit card for a long long time and I've never had that problem of overspending because I'm not seeing the cash, but I will be cautious.
    Thanks for the tips on not using too much of the available credit!

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