An interesting discussion about credit cards. I didn't realize they were so important to you younger people.

I do know carrying more than 7% credit card debt to available credit will lower your credit score.

I would advise a brokerage debit card. Otherwise, pay cash. Do Not start a new life off in debt.....

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Posted by tylercsbn9

Cypress, TX

Member since Feb 2004

65876 posts

Posted on 11/20/12 at 8:39 pm to RetiredG8tr

quote:
I would advise a brokerage debit card. Otherwise, pay cash. Do Not start a new life off in debt.....

Not at all. I'm 29 and this is my first personal credit card.

Just want to get one for the rewards and use the 0% incentive to help pay off my fiancé's two credit cards after we get married in June. Once the 0% APR is done I plan on never carrying over a balance month to month.

We'd have them paid off with ease, but were saving for the wedding. Most of her debt came from a time when she had to help take care of her mother when she was out of work, so I can't really blame her entirely for the $4k she'll have in CC debt once we are married.,

This post was edited on 11/20/12 at 8:41 pm

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Posted by saderade

America's City

Member since Jul 2005

25748 posts

Posted on 11/20/12 at 9:40 pm to RetiredG8tr

quote:
An interesting discussion about credit cards. I didn't realize they were so important to you younger people.

I do know carrying more than 7% credit card debt to available credit will lower your credit score.

I would advise a brokerage debit card. Otherwise, pay cash. Do Not start a new life off in debt.....

Young people posting on a money board are obviously very involved in their financial situation so I doubt anyone carries over debt each month. Before I read this board regularly I put everything on my debit card. Since April, I already have about $600 cash back on my Amex Blue Preferred.

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