[9mm BeRetTa]

I don't think you need a credit card when buying a car...just a bank check stating that they know you got the money or something.

I wouldn't know, I use cash for everything.

If you have an ATM Card can't you use that over the interweb? My ATM card has a mastercard symbol on it, I haven't used it this entire year I've had it but I think it works like a regular card, but it docks money from your savings account.

[philadelphia killing mach]

they still do a credit check.

[Drew]

Just going to weigh in on this.. I deal with finances every day so I've gathered a bit of knowledge on the subject...

First of all, forget the idea of putting a car on a credit card. It's ridiculous.

With that out of the way, there are only two good reasons to have a credit card: building credit and emergencies. You should never get a credit card because you want something and don't have the money to front for it. You'll regret it later when you're making payments and not doing anything but knock off the accrued interest.

If your interest is building credit, I suggest applying for a Capital One card (they are the easiest creditor to get approval from without making a deposit or paying an annual fee) and ONLY paying for a single expense with it. For instance, when I was sixteen, I only used the card to pay for my gas. I would pay this off before the end of the grace period (usually 20-25 days) and never accrue interest on it (my first card had a 19% interest rate oOo: ). This way you're not wasting your money on interest and you also build your credit score.

When determining credit scores, there are only a few main things at which they look. The number of accounts you have, the number of recent inquiries on your credit, the credit limits on your revolving accounts and whether or not you have been paying on time. Contrary to popular belief, spending more money on your card and paying it back down does not increase your credit score.

There are a lot of really good reasons to build your credit, especially if you are interested in buying a car or a house in the future. If you have great credit (it takes 3-4 years to build, be patient) you can get that awesome 0% APR for 60 months on a car or finance a house with no down payment.

So there you go. beer:

[Bucknub]

ok, for the record I wasnt going to buy a car with a credit card, I just thought it was something required when purchasing a car.

and all I really want it for is to build up my credit.

[philadelphia killing mach]

seriously , if you want a quick way to build up credit do this:

1. get a sears card (yeah the interest in out the ass)
2. buy something big with it (any major appliance ie washer dryer, but not small electronics ie. dvd player) basically anything totalling over 300.00 and having continued value over a five year period
3. pay it off complete


takes time but builds credit. if you're young (18-25) you're allready screwed, sorry. having a credit card means nothing today to financial loaners, everyone has one and americans are known to abuse them saddly.

[Drew]

[quote="philadelphia killing mach":e4ab6]seriously , if you want a quick way to build up credit do this:

1. get a sears card (yeah the interest in out the ass)
2. buy something big with it (any major appliance ie washer dryer, but not small electronics ie. dvd player) basically anything totalling over 300.00 and having continued value over a five year period
3. pay it off complete


takes time but builds credit. if you're young (18-25) you're allready screwed, sorry. having a credit card means nothing today to financial loaners, everyone has one and americans are known to abuse them saddly.[/quote:e4ab6]

oOo:

Size of purchase and/or money changing hands has absolutely nothing to do with your credit score. Maybe if you purchased a 60" HDTV for $3,000 and financed it without a revolving line of credit, it would do something. But if you get a Sears card it works on your credit the same way as anything else.

Remember.. size of purchase doesn't matter. All that matters is that your account remains active (at some point during every month your card should carry a balance, but you should pay it off before the end of the month) and that you pay on time.

[Himmler]

dude just open up a checking account and get a atm/debit/check card all in one. i have one, and i can use it on the net, paypal, and in person. i can use it as a "credit" card or a debit card whichever i want in person. it is much better then a cc at the moment for me because it actually takes the money right out of my checking accnt and i dont have tow orry about paying it off or bills of any sort. trust me, at your age it is the way to go.

[Mr.Buttocks]

Come live in the UK - they hand out credit cards like sweeties over here.

[Art Attack]

rofl, while reading this thread like 5 credit card pop ups appeared.

[geRV]

You're probably better off to apply to your bank for a debit card, people get credit cards then get themselves into a fuckload of debt. Debit cards you can use online plus you can only spend what you have available so no getting yourself in shit owing money left right and center.

[Nyck]

Credit cards will fucking own you...Im 7 and a half Gs in debt thanks to them.

Had them pretty much all paid off, then my gramps died, then had to use it for his funeral, then I bought a couple cpu, school supplies/books all that shizzle.


Yay for me annoy:

[Milla]

Fuck, i was given a credit card right out of bootcamp.....Its a good thing, but its a bad thing to. You just keep charging shit to it oOo:

[Bean 2]

Originally Posted by geRV

You're probably better off to apply to your bank for a debit card, people get credit cards then get themselves into a fuckload of debt. Debit cards you can use online plus you can only spend what you have available so no getting yourself in shit owing money left right and center.

Yea what Gerard and Himmler said. Go with a debit card. I have one and you can use it basically the same as a credit card. It just takes money out of your bank account. No interest or anything either. If i want more money on it, i just deposit more in the bank. Its good for emergencies and online purchases. Plus its more secure than just carrying cash around.

[descry]

buying a car with a credit card would fuck over the dealership.

[Pyro]

your parents make you pay room and board...don't say like much of parents to me.

but if you offered the money on your own, iwthout them asking, then good for you man.