I got my first credit card in college... I was 18 or 19, I think. It's never been a problem, and in fact has been beneficial to me - I cannot fathom spending more than I can actually realistically pay off that month (unless it's an emergency, in which case it's very nice to have a high-limit card so I can deal with potentially expensive emergencies that might arise), I get the "cash rewards" benefits from the card, and it gives an extra layer of protection between my purchases and my money (buyer protection, protection against identity thieves - I had my identity stolen once from using my debt card at a gas station, before I got my credit card.) Plus it's helping to build my credit, which hopefully will help when I decide to buy a house someday. So as long as you're responsible about it, I don't think credit cards are a problem.
I agree with almost everything you said, just want to throw a small comment in here:
When utilities are included, typically the added cost more that covers the average use of the tenants, so no real savings here. If you all of a sudden use a ridiculous amount of utilities the land lord can and will charge you extra. I
I got my first credit card when I was 18 to start building my credit. I was very responsible with money though and have never carried a balance and I am now 24.
I was wondering if you can list all the methods needed to make moonshine. From start to finish. I don't want to mess anything up. Just being on the safe side.
I was 14 or 15, trying to get a head start on building a credit history; w/ my dad's permission, I got a card in his name and added myself as an authorized user. It's been great for my credit history, though even as someone with a "savvy in personal finance" self-image (fed by a lot of reading) I did at times get sucked into spending more than I should have.
I got my first credit card in college. Sears came on campus and was taking applications from students. I had a part time job at the time. I kept that credit card for years.
Something else worth noting is the control you lose over which loans you pay off. After college and grad school, I'm facing a substantial amount of debt, which is made to a number of lenders, several of whom hold more than one loan for me. Aside from the negatives to consolidation already stated, I realized that I also would lose control over where any excess payments went by consolidating. Instead, I reduced all my payments to the income-based repayment plan and created a budget that allows me to pay more than those minimums. Because I did not consolidate, that monthly amount that I pay above my minimum due towards my loans can be directed as I choose, rather than the lender or servicer, into the highest interest rate loans, allowing me to pay down faster and less than I would be if the servicers were making that choice. This might not matter for some situations, but in mine, it is making a HUGE difference. Just a thought.
I got my first credit card as a junior in college. I did not have a stable job at that time as I was in school full-time, but with a part-time job. I think that was a little bit too early as I was in the midst of other students who were "consumption" minded, and I racked up quite a bit of cc debt. I think the best time to get a cc would be once you are working full-time... not to spend money before receiving it, but using it to pay for big ticket items.
I got my first credit card about the time I went to college, so when I was 20, I think. I was a college student and had a small income. I managed that one well, actually, but when I got more credit cards, I ran up too much debt. The first one I got was with Chase. I still have an open account with them, but I do not use that card anymore since they jacked up my interest rate for no reason.
I got my first credit card at 18. I do think that is the right age to get one. It's helpful to have in case of emergencies. I was in college and working part-time and have never paid a bill late so my credit is good. I think it is important to fully understand the risks before getting a credit card.
I got mine right before college to build up credit. I never missed a payment or carried a balance. Closed it after graduating to get a better card with rewards.
I was working part time and going to school full time when I got my first card, and it was only intended for tuition and books. I used it only for necessities and never carried a balance so I've generally always profited from the use of credit cards but I was lucky enough to have been a reader of the Fatwallet Forums nearly as soon as I graduated from high school so I knew how to use them to my advantage.
In an ideal situation, I suppose, age doesn't matter as much as knowledge and self control - if you have the knowledge and the desire to use the cards responsibly then I think you can.
I got my first credit card at 18 and I had a stable job. I think it depends on the person on when they can get their first credit card. Some can handle it and if they act responsible.
As soon as I turned 18 my mom took me to the local bank and signed me up for their credit card so I could "have a credit history." That was the only explanation I got and since I didn't really understand anything about interest and fees, etc., I racked up a good $18k before I wised up and educated myself. Now I am debt-free, but sorely missing the $18k I could have saved instead of spent!
I got my first credit card in college. I didn't have a job at the time, but had savings and magically didn't use it incorrectly at the time (creating debt)!
I got my first Credit card when I was 18. Then ended up giving me a credit limit of 7500 some how. I didn't have a job, but I did know not to spend money I didn't have.
That's a hard question to answer, as I don't remember exactly - but I know I was over 25 years old, because I got declined at my bank at that age. I wanted a Visa, and the application was the same as for overdraft protection. I never had an overdraft and would be a banker's dream, except that I never pay them any fees :P
I may have gotten a Capital One secured credit card first to establish credit, and then AAA offered me its AT&T Universal card. I was 30ish. I remember that Universal card asked me if I wanted more credit, like naming my limit, and it was already at $8,000. I didn't feel a need for more.
Got my first credit card in high school from my parents to teach me responsability
I got my first credit card in college... I was 18 or 19, I think. It's never been a problem, and in fact has been beneficial to me - I cannot fathom spending more than I can actually realistically pay off that month (unless it's an emergency, in which case it's very nice to have a high-limit card so I can deal with potentially expensive emergencies that might arise), I get the "cash rewards" benefits from the card, and it gives an extra layer of protection between my purchases and my money (buyer protection, protection against identity thieves - I had my identity stolen once from using my debt card at a gas station, before I got my credit card.) Plus it's helping to build my credit, which hopefully will help when I decide to buy a house someday. So as long as you're responsible about it, I don't think credit cards are a problem.
I agree with almost everything you said, just want to throw a small comment in here:
When utilities are included, typically the added cost more that covers the average use of the tenants, so no real savings here. If you all of a sudden use a ridiculous amount of utilities the land lord can and will charge you extra. I
In college...yup, i was one of the suckers who wanted the stupid freebies...ATT Universal card.
I was 18 when I got my first credit card--way too young to know any better!
What happens on Wednesday!?...Do the bakers take a day off!??
I got my first credit card when I was 18 to start building my credit. I was very responsible with money though and have never carried a balance and I am now 24.
When I started my first job after college!
I was wondering if you can list all the methods needed to make moonshine. From start to finish. I don't want to mess anything up. Just being on the safe side.
I was 14 or 15, trying to get a head start on building a credit history; w/ my dad's permission, I got a card in his name and added myself as an authorized user. It's been great for my credit history, though even as someone with a "savvy in personal finance" self-image (fed by a lot of reading) I did at times get sucked into spending more than I should have.
I got my first credit card in college. Sears came on campus and was taking applications from students. I had a part time job at the time. I kept that credit card for years.
I got my first credit card at 18. I think it was a JCPenney card
Something else worth noting is the control you lose over which loans you pay off. After college and grad school, I'm facing a substantial amount of debt, which is made to a number of lenders, several of whom hold more than one loan for me. Aside from the negatives to consolidation already stated, I realized that I also would lose control over where any excess payments went by consolidating. Instead, I reduced all my payments to the income-based repayment plan and created a budget that allows me to pay more than those minimums. Because I did not consolidate, that monthly amount that I pay above my minimum due towards my loans can be directed as I choose, rather than the lender or servicer, into the highest interest rate loans, allowing me to pay down faster and less than I would be if the servicers were making that choice. This might not matter for some situations, but in mine, it is making a HUGE difference. Just a thought.
I got my first credit card when I was almost done college. I'm wiser about using it now...
I got my first credit card as a junior in college. I did not have a stable job at that time as I was in school full-time, but with a part-time job. I think that was a little bit too early as I was in the midst of other students who were "consumption" minded, and I racked up quite a bit of cc debt. I think the best time to get a cc would be once you are working full-time... not to spend money before receiving it, but using it to pay for big ticket items.
I got my first card when I was 18 though I never used it until I was 20. Paid off in full every month ever since.
I got my first credit card about the time I went to college, so when I was 20, I think. I was a college student and had a small income. I managed that one well, actually, but when I got more credit cards, I ran up too much debt. The first one I got was with Chase. I still have an open account with them, but I do not use that card anymore since they jacked up my interest rate for no reason.
I got my first credit card at 18. I do think that is the right age to get one. It's helpful to have in case of emergencies. I was in college and working part-time and have never paid a bill late so my credit is good. I think it is important to fully understand the risks before getting a credit card.
I got mine right before college to build up credit. I never missed a payment or carried a balance. Closed it after graduating to get a better card with rewards.
I was working part time and going to school full time when I got my first card, and it was only intended for tuition and books. I used it only for necessities and never carried a balance so I've generally always profited from the use of credit cards but I was lucky enough to have been a reader of the Fatwallet Forums nearly as soon as I graduated from high school so I knew how to use them to my advantage.
In an ideal situation, I suppose, age doesn't matter as much as knowledge and self control - if you have the knowledge and the desire to use the cards responsibly then I think you can.
I got my first credit card at 18 and I had a stable job. I think it depends on the person on when they can get their first credit card. Some can handle it and if they act responsible.
As soon as I turned 18 my mom took me to the local bank and signed me up for their credit card so I could "have a credit history." That was the only explanation I got and since I didn't really understand anything about interest and fees, etc., I racked up a good $18k before I wised up and educated myself. Now I am debt-free, but sorely missing the $18k I could have saved instead of spent!
I got my first credit card in college. I didn't have a job at the time, but had savings and magically didn't use it incorrectly at the time (creating debt)!
I got my first Credit card when I was 18. Then ended up giving me a credit limit of 7500 some how. I didn't have a job, but I did know not to spend money I didn't have.
That's a hard question to answer, as I don't remember exactly - but I know I was over 25 years old, because I got declined at my bank at that age. I wanted a Visa, and the application was the same as for overdraft protection. I never had an overdraft and would be a banker's dream, except that I never pay them any fees :P
I may have gotten a Capital One secured credit card first to establish credit, and then AAA offered me its AT&T Universal card. I was 30ish. I remember that Universal card asked me if I wanted more credit, like naming my limit, and it was already at $8,000. I didn't feel a need for more.