PROS & CONS for a credit card?

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2016-02-08 3:54 pm
I am 22 looking to build my credit.. is a credit card a good idea?
更新1:

how do they work exactly? I don't want to dig my self in a hole.

更新2:

also if I get one but don't use any of the money would that still build my credit or do I have to actually spend & pay back to build it...

回答 (13)

2016-02-08 4:01 pm
Use your card only to buy what you would be buying anyway. Pay in full every month before the due date to avoid high interest charges. Carrying a balance does NOT build your credit score more quickly as some people think.
👍 3 👎 1
2016-02-08 3:55 pm
Yes, IF you can use it responsibly.

edit: Have you read "Personal Finance For Dummies"? I highly recommend it - it covers the basics of "credit" and a whole lot more that young adults need to know.
👍 3 👎 1
2016-02-08 4:11 pm
Pros. Credit card is the best way. You wont regret. 'U r welcome' in advance
👍 2 👎 0
2016-02-08 4:01 pm
Yes, find one with no annual fee and keep it paid off. Maybe your situation won't let you get one without fees, in which case find a low fee. Again keep it paid off!
👍 2 👎 0
2016-02-08 3:56 pm
better to start early then later, in case you need to purchase big items like a car or home.

just make sure to pay off the credit card in time each month, and your credit history will grow slowly.
👍 2 👎 0
2016-02-08 4:04 pm
Only buy what you can pay off each month. Get one without a fee. CapitalOne has cards that would work for you without an annual fee. NEVER pay less than the statement balance due. NEVER be late - no excuses. Pay it early each month so you will not miss out. the easiest way is to use their mobile app for payments. It is actually easier than paying online. NEVER use the cash advance feature - opt out of receiving the checks they send. Those are a cash advance (if you use them) and start accruing interest immediately. The name of the game is be on time, never pay interest. Credit cards are great for online purchases, as it protects you and your money in case your card is stolen.
👍 2 👎 1
2016-02-08 3:59 pm
Pros: Free money.

Cons: None.
👍 2 👎 2
2016-02-08 4:11 pm
It's fine to own a credit card and a good idea to build credit. You need to make sure that you pay it off each month, have a budget that you can stick to and save 10% of your net income. If you do all that there are no cons.
👍 1 👎 0
2016-02-11 12:24 am
They are only good if you are working and can pay off the bill each and every month.
👍 0 👎 0
2016-02-09 4:03 am
That is not a good idea.
The pro is that after you build up your credit, then one will be useful for other reasons.
The con is that you can't get now.
The way that they work is that when you try to get one, they check to see if you have built your credit yet. If you still need to build credit, then they don't give you one.
If you could get one but didn't use any of the money, that would still build your credit. You don't have to spend. But you do have to build credit before you can get one.
👍 0 👎 0
2016-02-09 3:51 am
Yes ... if you can use it wisely.
👍 0 👎 0
2016-02-08 11:19 pm
Good if you don't abuse them and pay off the balance in full every month. Don't charge more than what you can pay in full every month. They are not a substitute for income that you don't have.
👍 0 👎 0
2016-02-08 8:41 pm
that's how all credit history starts
👍 0 👎 0


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