A Detailer's Worst Enemy

Joshua312 · 02-24-06, 07:19

I finally got a credit card

Went to the credit union where I have my car loan at...Got a $1,500 max Visa.
Mind you I'm only 18 so I dont need some huge max, although $1,500 isnt the best for me either. lol

So now I have easier access to making purchases online....don't have to go to my mom or brother to give me their credit card numbers.

I just need to stay away from purchases that are large....cuz once my tax return comes back Im getting my new hood and bumper and then getting them painted...But Im itchin for some new rims...So....I need to just save the credit card for detailing stuff and just save for the rims. Don't want to go into debt my first month

haha

ebpcivicsi · 02-24-06, 07:22

Personally, I think you should cut the CC up and request a check card. Just my opinion, but a CC at your age may not be the best thing.

G35stilez · 02-24-06, 08:09

Be careful.

Credit Cards can be very good tools to build your credit:

- Get one for gas only and pay it in full each month
- Use this one for general uses but try to pay it in full or more than your minimum balance each month
- Lateness on a payment kills you

I currently have a check card (use the most) and 2 credit cards (Visa and MC). I try to not use the CC's a lot as I have racked them up a bit throughout my college career and need to get my debt lower.

Like I said...be careful...it's not free money

.

Hey, Moe! · 02-24-06, 08:23

I think that you should keep the credit card, but it's best to learn some financial discipline now. If you want to use the CC to facilitate making a purchase, then be prepared to pay off the balance of the credit card when the statement comes.

That way, you can enjoy the convenience of the CC, learn how to handle your finances, and at the same time begin to build your credit rating by using the card in a sensible manner.

If you don't think that you can come up with the money to pay for a purchase promptly, then that's a good reason to postpone the purchase until you can.

IMHO, if you handle your credit card in this fashion, you will be a lot happier in the long run.

Hey, Moe! · 02-24-06, 08:25

Yeah, just read Sean's post. He's dead right....it's not free money.

Joshua312 · 02-24-06, 08:32

Thanks for the advise guys. I know it's not free money...but it does help when I need a cash advance and I dont have to wait till my next check after I get done paying my car payment. I pay $165 a month for my car loan and $165 for car insurance a month. It sucks when 2 weeks in a row my checks go for these payments and then Im stuck waiting for my next check. Having a car loan really has taught me to be disciplined with my spending and to budget. In the past 3 months my mom loaned me about $1,800 for either school books or car products I pourchased....in a mere 2 months I was able to pay her back in full. I plan on using this credit card mainly for 1. Gas like Sean said and 2. Online purchases which I plan to have money to pay for the bill already

I use to spend money like crazy when I bartended at a bar, now that I make a little bit less I use my money more wisely and I cant wait to build up my credit more. Even though I complain now about paying my car payment every month and wishing I just stuck with my firebird...I think of how it will eventually benefit me

(Also cant wait till my car insurance lowers next fall

)

ebpcivicsi · 02-24-06, 09:11

I am not trying to sound all "know it all/holier than thou," but it sounds to me like you can't afford your car or detail purchases at this point in your life.

Then again, I don't charge/finance anything--cars included.

Neo62381 · 02-24-06, 09:31

Man, cut that CC UP! If I had things to do over again I'd have NEVER gotten mine. It's just SOO easy to get in debt with those!

Joshua312 · 02-24-06, 09:31

Yeah...That is quite the remark to post I guess.

However your wrong in your assumption....My mom helped me out because I took a week off from work during my Thanksgiving break to go down to Mississippi to help with Hurrican relief...and second during the Christmas season I tend to buy people presents so she helped me out with my payments for the time being. For being at 18 years old...working 35 hours a week..and making around $1,500 a month. I think Im doing pretty good and being responsible? Im not trying to sound snobby but I work hard for my money and yes I can afford my car payments, insurance, and everything else I buy...I have never gotten anything handed to me. Ive been working since I was 15 while all my friends recieved brand new Eclipses and Dodge Ram's.

ebpcivicsi · 02-24-06, 09:49

Quote:

Originally Posted by Joshua312

Yeah...That is quite the remark to post I guess.

However your wrong in your assumption....My mom helped me out because I took a week off from work during my Thanksgiving break to go down to Mississippi to help with Hurrican relief...and second during the Christmas season I tend to buy people presents so she helped me out with my payments for the time being. For being at 18 years old...working 35 hours a week..and making around $1,500 a month. I think Im doing pretty good and being responsible? Im not trying to sound snobby but I work hard for my money and yes I can afford my car payments, insurance, and everything else I buy...I have never gotten anything handed to me. Ive been working since I was 15 while all my friends recieved brand new Eclipses and Dodge Ram's.

Calm down there tiger. You made the comment about how..."it does help when I need a cash advance and I dont have to wait till my next check after I get done paying my car payment. " I don't care if you piss away every dime you make, which why I tried to word my post cautiously. And who said anything about something being handed to you? Knock the chip off your shoulder and simmer down, I was just trying help.

Get the card, charge your detail purchases that you have borrowing money to make, buy the rims, take a cash advance when you are between checks, and have a merry time doing it. Makes no difference to me. Perhaps that better advice.

Joshua312 · 02-24-06, 09:55

Im not even going to bother. I dont believe I would have been approved for my car loan or my credit card if I wasnt able to afford it. No Im not going to charge rims to it, no Im not going to spend money like it's free...If you missed my post up there ^ I said I was going to use it for gas and online purchases. Im sorry you took it the way that Im going to piss away my money, but Im not, nor do I right now.

Scottwax · 02-24-06, 09:57

Cash advances are the worst thing you can do with a credit card, usually 20%+ interest.