Inkara1 said:
You should get a credit card. Buy a tank of gas or a meal or something on it,a nd then pay it off each month when you do that. Don't fall victim to the pound-signs in your eyes when you see your new credit limit, and you'll be able to build up some credit for when you want to buy a house or a car of your own someday.
Noooo... no...no.. no!
I had a MasterCard at uni... I never touched it. The interest rate is not worth it. Nor the sleepless nights.
My family has a motto
"What you can't afford today... you can't have.
Save for a while... and getting it is even better"
Britiain is quickly becoming a "credit nation" people are living well above their means thanks to "low interest immalgimation" credit cards and store cards. Its a sorry state of affairs when families have to buy their FOOD! FOOD for God's sake on tick... because they can't afford to really eat until the end of the month!
I work in a shop... I've served people who use high interest credit cards to pay for items costing £10 ($20!!!!)...
People are constantly getting things on ACCOUNT....
On "account" of the fact they have no money!
House priced have rocketed, people now get 100% mortgages... no immediate % payoffs and can mortgage for houses well OVER the "3 times your combined wage" guidlines!!!!!
I can't sleep thinking about my colleague's debt (through store and credit cards) of £5000... I think I'd die if it was my own debt.
And as far as getting a good credit rating goes... i was over drawn by £800 ($1600) whilst at uni... i got a threatening letter and paid it back in full within 3 months... I was simply waiting til the summer holidays to get a full time job! My credit rating is dandy... they keep offering me... yup! CREDIT CARDS!!!!!