Main > Everything Else
I need a credit card (i think)
Blanka:
I think Visa and Mastercard should make a distinction soon. There should be two types of credit cards:
- One for people that need a plastic card to pay stuff and that is accepted everywhere (guess Americans call this a "Debit Card", but this is how most Europeans use "Credit Cards")
- One for people who want to buy stuff they don't have money for (How they tell us Americans use their "Credit Cards").
I want a credit card that automatically deducts all payments from my bank account directly. Why do I have to be X-Rayed for my financial history for that? There is enough cash in the account. The Dutch PIN card or the European Meastro card are not nearly as much accepted as the CC plastic.
Malenko:
if youre asking how to establish some credit, get a gas card or store card, charge something trivial on it and establish a payment history. I did it with best buy, but I would suggest a store that doesnt rape you in interest and late fees. I charged $11, was 1 day late paying, they charged me $50 late fee and like $1.27 interest but yeah. store card or gas cards are your best bet
ChadTower:
--- Quote from: Blanka on July 16, 2009, 09:07:34 am ---I want a credit card that automatically deducts all payments from my bank account directly.
--- End quote ---
We do have that. Checking account debit cards usually carry either a Mastercard or Visa logo and are accepted through their infrastructure even though it's actually taking money directly from checking with no credit involved.
Don't tap your 401k. That should be the last thing you do. You're going to have to feed yourself when you live through this and that's how you are going to do it.
JeepMonkey:
Do not tap into your 401k.
Using a credit card will build credit history. I travel for work and use my personal credit card for my expenses. I probably averaged $5000 a month in expenses during 13 months over the last two years. I was reimbursed every two weeks, so I always had money to pay off my balance and was never late. This really increased my credit rating pretty fast.
I am not saying you have to charge a lot of money each month, but use your credit card for normal things like groceries, gas, etc and make sure you pay it off on time. This will help you establish good credit. It also helps if you can access your account online or at least have free bill pay by phone.
Listen to Dave, he will get you there.
RayB:
Dawayne, The reason they wanted those extra fees is because you were offering your home equity as collateral. Those fees go toward doing the due diligence on th evalue of your home, how much you owe, etc...
So the answer is, don't get that kind of card. Just get a standard loan with your bank. Do you have a bank you've been with for a long time? If so, then it doesn't mater so much that you don't have a credit report, you still have a history with THEM that they have access to.
Navigation
[0] Message Index
[#] Next page
[*] Previous page
Go to full version