9 Responses to “Hey I just turned 18 and i need advice on the best credit cards to apply for?”

1. TaxMaven Says:
   
   January 5th, 2009 at 9:07 pm

   You don't need to b uild your freaking credit. That is a myth perpetuated by banks & idiots who are already in debt up to their a**es & want to drag you down to their level. I've had credit before, but now I live without borrowing. Trust me, having money to spend is better than having credit cards. As a bonus, dumb store clerks sometimes think you're in the mob. He, he, he! I hope you will at least go to the website below & listen to some of the podcasts before you get a stupid credit card. At least then you will be an informed idiot & you won't be able to say you weren't warned.
   References :
   http://www.daveramsey.com

   
   
2. Lance H Says:
   
   January 5th, 2009 at 9:45 pm

   Find a card that offers you the best interest rate without having to pay any annual fees. All the other offers credit card companies extend are just gimics.
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3. Hawaiisweetie Says:
   
   January 5th, 2009 at 10:19 pm

   I would get one that has 300 dollar credit limit and not use it, credit cards don't increase your credit that much and there are two different types of credit, revolving credit (credit cards) and installation credit (loans, auto, house) If you want to get a auto loan then it doesn't matter if you credit score is 800 and you have perfect revolving credit, you have no installation credit, trust me this is what happened to me, I applied for a auto loan and have very good credit score and have 3 credit cards and everything was peachy until they noticed that I have never had a loan or such. credit also applies to keeping your bills paid on time, be it cell phone, insurance, and such. What you can do… is get a store card, like Macy's or V Secrets. The credit wont be that high, interest is going to suck on your first card anyways, and then you can only spend it at one place and slowly build credit. You don't want to get a card with 1200 and then realize that you use it more than you should and start going into debt. Also don't buy more than you can pay off at the end of the month, it shows great to creditors if you can buy things on the card and then pay it off at the end of the month, it shows responsibility and knowledge. good luck
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4. richard w Says:
   
   January 5th, 2009 at 10:30 pm

   the best answer is that the best credit card is no credit card,why make a bank rich? other than a home their is nothing in this life that is so important that it cant wait for you to save up for it.dint get into debt and you will be the most well off person you know!Just think how many people have bought plasma telly's on plastic who are paying high interest on products they can buy now at less than half the money they paid! don't do it you really dont need to.
   References :
   im an IFA and debt counsellor

   
   
5. Linda Says:
   
   January 5th, 2009 at 10:51 pm

   There is more on this topic at http://talesofmagic.com/WordPress/ there are so many informational credit pieces here….
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6. JOE BLACK Says:
   
   January 5th, 2009 at 11:21 pm

   Credit cards will ruin your life. Just use your bank card or cash.
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7. Michael O Says:
   
   January 6th, 2009 at 12:07 am

   Chase. I am a college student, and they offer a college checking account. if your parents have Chase, than you could get free checking for sure, but you might be able to get one anyway. Also, there are good offers with banks that your parents bank with. Banks want to get as many people as possible and they will encourage users to get their children involved in the bank. As for Chase, the interest percentage is high, but as long as you pay the card every month, youll be fine. i dont pay a dime over what i put on my credit card
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8. Kupkake Says:
   
   January 6th, 2009 at 12:33 am

   Don't go chasing credit card companies. Apply for the "pre-approved" selections that are mailed to you. Like from Capital One, CitiCards, department stores, etc… DO NOT apply for HSBC, Household Bank, Beneficial; these are the same companies and they totally rape you on their terms. As for "not needing to build your credit" and carriyng cash everywhere, think about this. You have a wad of cash in your purse/wallet it gets stolen, you stuff is GONE-or- you have a Visa in your purse/wallet, you call and cancel the card and get nothing ripped off. Get a card and save the money like cash to pay it off every month. Or to build your credit you can go finance a vehicle, that works really well. Good luck and be careful!!
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9. Flyboy Says:
   
   January 6th, 2009 at 12:59 am

   The very best way to build your credit score is to pay all your bills on time. Getting a credit card may add some raw data to the calculation but it can screw your rating up faster than you can say "Jack sprat". All you have to do is be late a couple of days on a payment and you've made a major mistake. It does not matter a twit what your excuse is or even if it is your fault.

   If you want a credit card for convenience then plan to pay it off each and every month, get one that allows you to track your account over the Internet in case the mailman delivers your bill to the wrong address and the idiot getting it simply tears it up. Get one that offers some kind of rewards: cash back or airline mileage, etc.

   Oh, do you want to be worth millions when you retire? Then plan to save 10% of your GROSS pay each and every month. Put it in a savings account or better yet in a 401(k) plan with matching contributions if your employer offers one.

   Good luck. I wish I were as smart at your age as I am now. Pay heed to the above and you won't have to say this when you reach my age.
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