01-22-2009, 07:05 PM | #1 |
Does not have a Camaro
Drives: 99 silverado Z71/66 Chevelle SS Join Date: Apr 2008
Location: Long Island, NY
Posts: 469
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Credit card advice?
I'm interested in getting a credit card and start building a line of credit. I'm just going to start making small purchases, probably just gas. I have no idea what card to get, I'm considering the GM card and start putting some more away for the 'maro. I'd like real suggestion, no "don't get one to begin with" although a good idea.
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01-22-2009, 07:13 PM | #2 |
PowerStroke this Ford boy
Drives: Like Don Garlits "Big Daddy" Join Date: Sep 2008
Location: Richlands/Camp Lejeune NC
Posts: 462
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Several of the CC offers out there are BS. Make sure there is no MEMBERSHIP FEE, and no minimum balance. Be careful of the APR as well. Some of them seem really good at 1.9%. Most of the time that is just a introductory rate, it could go up to 19.9999999 after that. Also remember your first CC can make or break you from years to come. Contrary to popular belief you should not pay it off every month, you want to at least double the minimum payment, but a CC with a balance of 0 actually counts against your credit score. Always have something on it. Remember to pay Early not on time or late. This will set you up for a great credit future.
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Hey big man let me hold a dollar |
01-22-2009, 07:17 PM | #3 | |
Drives: 2SS/RS Join Date: Sep 2008
Location: Western North Carolina
Posts: 7,182
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Quote:
Imo the best option for a credit card is though your local bank. Most banks nowadays offer a credit card in which you deposit your own money onto. There is no apr and no monthly payments to deal with as it is your own money and it builds your credit exactly like a normal credit card does. |
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01-22-2009, 07:20 PM | #4 | |
Does not have a Camaro
Drives: 99 silverado Z71/66 Chevelle SS Join Date: Apr 2008
Location: Long Island, NY
Posts: 469
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Quote:
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01-22-2009, 07:25 PM | #5 |
I love crepes
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Personally, I like a card that offers cash back. That way, I can use the cash to buy a car, buy an airline ticket, or whatever I want (vs. being only able to buy a GM car with the GM card for example). I have an American Express card that offers cash back and allows me to carry a balance if I need to (although I don't recommend doing that!).
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01-22-2009, 08:34 PM | #6 |
Senior Member
Drives: 2010 SS/RS, '06 350Z Join Date: Oct 2008
Location: So. Maryland
Posts: 2,333
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Cash back is what percent of the purchase - 1%? It's not worthwhile, just a ploy to get you to charge more. Go for the lowest fixed APR you can get based on your credit history/FICO score.
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2SS/RS - Black/Black - CGM Rally Stripes - Auto - VIN 10171
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01-22-2009, 08:40 PM | #7 |
I love crepes
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I get 3% and it generally amounts to a lot for me. I put everything on the card and pay it off every month. If you are going to carry a balance, then lowest APR is a must. However, I never carry a balance so I don't really care about the APR.
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01-22-2009, 08:42 PM | #8 |
Drives: 1969 rs/ss & 2010 L99 #3747 4/28/09 Join Date: Oct 2008
Location: Albion, NY
Posts: 328
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I have one also and have 500 on the earnings. It is my understanding that they only credit my card once a year. When do they do that because I should be credited more as I have used that card more. Does anyone know?
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01-22-2009, 08:45 PM | #9 |
I love crepes
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If you are talking about the cash back, on the AmEx I usually get the check from them in February. However, I can see the balance that I am building online at any time.
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01-22-2009, 08:53 PM | #10 | |
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Quote:
ive got the platinum amex -dont know why lol and got the blue-i add up the miles hmmmm
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top 10 reason why real men drive stick. 10. A manual transmission is the ultimate in control 9. You can use automotive jargon and not sound like a total tool 8. You can't spell "manual" without "man" 7. Manual transmissions prove you can do more than one thing at a time 6. You can't drift in an auto 5. You can't pull fancy moves in an automatic 4. You get better fuel economy with a stick 3. You’ll never look like a chump if you can drive stick 2. Manual transmission cars are faster 1. Women like a guy who is good with his hands. |
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01-22-2009, 09:19 PM | #11 |
Drives: the 2nd amendment home Join Date: May 2008
Location: OK
Posts: 14,707
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Call me old fashioned...I like cash.
C C's are a bad way to build credit...and a good way to ruin it. |
01-23-2009, 07:33 AM | #12 |
Love's to Detail
Drives: 2010 SS,97silverado/08crewcab Join Date: Oct 2008
Location: Greenville SC.
Posts: 1,421
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