Getting a Credit Card at 18
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Should I Get a Credit Card?
I do not necessarily want a credit card for any reason other than to get and grow a credit score. I was watching some videos and I have seen a couple of sources advise getting a credit card when you turn 18 and only use 10% of your limit, paying the 10% back in full. I currently work part-time at a grocery store in addition to going to school so I roughly bring in enough to pay back 10% of a good credit card for teenagers. I hope to be able to buy a house and car eventually using credit so I know I need to start to building my credit, but was wondering what all of you thought?
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Its a question of how well you can control yourself.
That is a good point. I have started saving nearly all of the money I have earned ever since I got my job so I think I should be able to control myself pretty well.
Posted via neoxian.city | The City of Neoxian
Many college-age kids are first exposed to credit cards when they are in college, and many of them aren't aware of the dark side of using credit cards. I was one of them a few presidents ago, so I learned my lessons the hard way.
If a young person learns about credit cards by following the example of parents who have mastered credit cards, then there are 2 reasons for a young person to have a credit card:
For anyone who lacks the self-control needed to use credit cards, stick with cash.
Posted Using LeoFinance Beta