Quote Originally Posted by wannab20hatch View Post
credit is like any motor or swap. Everyone has a different opinion on its usefulness so to speak. The following is based on my experience.

First off credit cards have never lowered my score. they say you shouldnt carry more than about 25% debt vs available credit. Meaning if you have 1000 dollar card never carry more than 250 for more than one month. A good income with bad credit isnt gonna get you crap. At the end of the day the creditor still wants their money they dont care that you have the ability to pay it they want to see that you will pay it. Good credit makes all the difference one half of a percent on a 30 year mortgage can equal 15000 dollars or more in some instances.

if you want a card save up 500 bucks and get a secured card and only put gas on it then pay it in full everytime the bill comes. youll see a difference within 6 months. Granted your interest rate will be well over 20% but that has alot to do with the economy. right now alot of creditors are only lending money to people that really dont need it.

Example: my parents make well over 250K a year and best buy gave them a credit limit of over 5 grand with 24 months no interest. when my dad got his new tv it came out to less than 19 dollars a month for 24 months simply because of no interest. This just shows you that good credit can get you far. granted with his income he could buy the TV cash but now he doesnt need to because with no interest its the same as if he did pay cash.

I started off with a secured card and ive never made over 25k a year and i have a credit score of 690 never once have i had a co-signer. I just pay bills as they come and watch what i spend.

one other quick note is always get your free scores every year to check for mistakes. Youll have to call all three credit bureaus and ask to have it sent but they have to give you a free report every year by law. Especially if your like me and are a Jr. Ive gotten my reports before and saw where i was 19 and making 2000 month house payments because they made a mistake.

hope this helps

this guy knows what up. but i dont like those secure credit cards. See wit me the rate doesnt matter because i always pay my credit card bill in full! Also people need to realize when you use a credit your are spending money you dont have so make sure you get the money to pay it off!