When I was in college, I knew that I wasn’t responsible enough to have a credit card. In hindsight, I wish I would’ve started building my credit score at that time though. I could have treated my credit card like a debit card and not have spent more than I had. While I know that building credit is a financial pillar, I believe that people should only have credit cards when they’re ready for that responsibility.
When I was in college, I knew that I wasn’t responsible enough to have a credit card. In hindsight, I wish I would’ve started building my credit score at that time though. I could have treated my credit card like a debit card and not have spent more than I had. While I know that building credit is a financial pillar, I believe that people should only have credit cards when they’re ready for that responsibility.
I concur
I’m afraid to get one for the fact I’ve heard horror stories about them
What type of horror stories have you heard Hope?
Yes, @Hope I'm also interested in hearing what kind of stories you've heard 
Would also like to hear
Hope K. has all of us on edge. Lol
I have earned A LOT in rewards $$ from my cards - I pay them off at least once a week .
@Susan - That's awesome! How to you budget to pay off your credit cards so often?
Hope I would like to hear the horror stories too!
I was instructed to cancel cards when I paid them all off after a credit disaster many years ago. Now my 'credit history' is shortened by about 12 years. Don't cancel those older accounts!
Just pay all credit cards on time and you will be fine, if you cannot afford to pay then don't buy
I thought about canceling my credit cards once I pay them off if you canceling is a bad idea what should you do?
I thought about canceling my credit cards once I pay them off if you canceling is a bad idea what should you do?
If it is a no fee credit card then there is no need to cancel the card.
I thought about canceling my credit cards once I pay them off if you canceling is a bad idea what should you do?
No ma'am keep it open even if you don't use it often.
The best advice is if you don't have a credit card don't get one….but if you have one already don't cancel it. Keep it current and open. Cancelling a card will hurt your score more than you know.
The best advice is if you don't have a credit card don't get one….but if you have one already don't cancel it. Keep it current and open. Cancelling a card will hurt your score more than you know.
Yes, it can definitely hurt your score :( This NerdWallet article does a great job of explaining why it could: https://www.nerdwallet.com/blog/finance/does-closing-a-credit-card-hurt-credit-score/
I thought about canceling my credit cards once I pay them off if you canceling is a bad idea what should you do?
Canceling a credit card can most likely hurt your credit score:/ I found this article that explains why that is: https://www.nerdwallet.com/blog/finance/does-closing-a-credit-card-hurt-credit-score/
Keep them open if no fee. Some people freeze the card in a cup of water to prevent the impulse purchases :)
@ Danielle Thanks the link was very helpful and informative!
Thanks!
I just finished a finance class online and am pumped about credit cards. I got miles card and already have like 600 dollars I can spend. I pay it off ENTIRELY before the due date so I never pay interest and the money I have to pay it off with sits in a high interest account till I do pay it. If you have spending problems Dave Ramsey's advice to never use them may be good for you but if you don't use them you leave A LOT of money on the table. I mean you can use cash back to pay bills and throw the equivalent into savings or something.
My Experian just notified my that my score dropped 49 points when I paid off my car lease!!! YIKES!! Any idea why? I know it is one less account, but geesh….
And… It says for some lenders, seeing my ONLY 3 credit card accounts that my file might look 'thin', even though it was 850 before the recent drop.
I've learned from a recent credit card not to use over 30 percent if you use more it lowers your credit score that was the case for me.
I was so afraid of having a credit card as well I legit didn’t get one until I was well into my twenties and now I know that fear is normal but don’t let it stop you as said before wait until you’re ready but don’t wait too long for zero credit is still bad credit 🤷
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