This may sound extreme, but don't get this card or any other card in the future. Pay CASH or maybe check. Credit = debt; you're buying money (and at a cost higher than it's worth). If you don't have the cash, you can't afford it. The only reasonable exception to this is buying a home. Even vehicles can be bought with cash. Unfortunately it's very hard for many to consider what they can really afford as opposed to what they really -want- (NOT need).
Don't use credit. Don't borrow money. A FICO score is just an "I love debt" score. You can live comfortably without a credit score. Really.
jsn - 14 years ago
Sure - get a new card, charge it up to the max and walk away from it. Have fun, and don't buy anything they can take away from you.
There should have been a 3rd option which is neither. Student, house, and in most cases auto loans are unavoidable for the average salaried worker in the US. Although I would encourage avoiding a auto payment like the plague and save up for something to get you to point A to point B. However, anything else should be considered "If I do not have the cash to buy it, then I cannot afford it." You may have high hopes of "I will pay this off every month." etc. but life isn't so sweet and consistent that you will be able to do that.
Credit is a "brand". It is like a game they created for you to get points. But your points buy you slavery. Credit is just as bad as Debt. They are synonymous.
Same stink, different finger.
Kevin - 14 years ago
Not only would I say wait for a better offer, I would wait until you have a small sum of money and go to your bank for a secured credit card. This is what I did to repair my credit. Afterward, use the credit card to pay a bill, then immediately go to the bank and pay it off.
While you will likely still have a higher interest rate, my secured credit card had no annual fee and was converted to an unsecured card after 6 months of good use. Now, two years later after some hard work, I consistently get offers for 0% cards
This may sound extreme, but don't get this card or any other card in the future. Pay CASH or maybe check. Credit = debt; you're buying money (and at a cost higher than it's worth). If you don't have the cash, you can't afford it. The only reasonable exception to this is buying a home. Even vehicles can be bought with cash. Unfortunately it's very hard for many to consider what they can really afford as opposed to what they really -want- (NOT need).
Don't use credit. Don't borrow money. A FICO score is just an "I love debt" score. You can live comfortably without a credit score. Really.
Sure - get a new card, charge it up to the max and walk away from it. Have fun, and don't buy anything they can take away from you.
There should have been a 3rd option which is neither. Student, house, and in most cases auto loans are unavoidable for the average salaried worker in the US. Although I would encourage avoiding a auto payment like the plague and save up for something to get you to point A to point B. However, anything else should be considered "If I do not have the cash to buy it, then I cannot afford it." You may have high hopes of "I will pay this off every month." etc. but life isn't so sweet and consistent that you will be able to do that.
Credit is a "brand". It is like a game they created for you to get points. But your points buy you slavery. Credit is just as bad as Debt. They are synonymous.
Same stink, different finger.
Not only would I say wait for a better offer, I would wait until you have a small sum of money and go to your bank for a secured credit card. This is what I did to repair my credit. Afterward, use the credit card to pay a bill, then immediately go to the bank and pay it off.
While you will likely still have a higher interest rate, my secured credit card had no annual fee and was converted to an unsecured card after 6 months of good use. Now, two years later after some hard work, I consistently get offers for 0% cards
Good Luck!