Yay!! OT

[Corey.G]

Great news. I've been approved for a capital one credit card!! YAAYY!! Nonmore buying pre-paid credit cards to get stash!

I've learned my lesson from before. Had one when I was 18, and combined with being broke and stupidity, I racked up a debt. Had debt collectors after me and got it paid off within 2 years. Now at 25, sadly I need a credit card to build my credit so I can buy a house.

I vowed after my last one got cut off that I will only bill what I can pay for.

[tiffstitch]

Cool! It's very tricky with CC when we get them too young. My DH had the same issues. I didn't get crazy into debt, but I had a spend happy friend and I'm still paying off stuff from a couple years ago. Good to know you're working on getting yourself ready for a house. It's a lot of responsibility.. and there are many unforeseen costs. But it's great to have your own place.

[BuffyLove]

Great that you paid it off, I almost think 18 is too young to be given so much credit. I had one at 18 too and went a bit crazy! Now I never leave anything on my statement so I don't pay interest, I really use it to buy online rather than use a debit card.

Anyway, good luck with saving for a house. I'm just applying for a mortgage on a property now and keeping my fingers crossed it'll all go through. Tiffstitch - you are so right about the unforeseen costs!

[Corey.G]

My fiancé wants to buy a condo. But I'd say just go right ahead and buy a house. Right now we're in the position to save more money and if we have a family we won't have that money for a house later on.

[Squirrel]

Way to go Corey. So glad that you are getting life sorted out. I prefer a debit card, that way I can't overspend as its linked to my everyday account. Besides I really don't need any more stash.

Sally

[Mystonique]

I have three cards, none of which cost me anything. I have had one for years and have never paid any interest or charges - pay them in full every month.

It is a bit scary though how many people see that you have a lot of credit and encourage you to buy things you can't really afford just because you have the credit available. My ex partner got himself into debt that took 7 years to pay and he wasn't able to get another card and he kept trying to get me to use mine to buy stuff we didn't need (3d tvs, massive lounge suites, deposit on a new car). One of the reasons he dumped me, I refused.

[rcperryls]

Lots of good advice. I used a credit card a lot when I was back in school and paid it off then. Now I pay everything every month. Its also good that you are thinking ahead. and Tiffstitch is right that there are unforseen costs with a house. But planning ahead and knowing what you are getting into is the best preparation you can make. Good Luck

Carole

[Mabel Figworthy]

Congrats!

Definitely a good idea to use it to pay only for things you know you'll be able to pay off at the end of the month -- it's the interest that makes those darn things so expensive and dangerous

[Nachstenliebe]

My husband never had a credit card until I added him to one of mine a few years ago for emergencies.. He got a little spend happy, but it was nothing too bad. I had another credit card that upped my credit balance and I freaked out.. I know the more they want to give you the better it looks for your credit score.... but I was just upset that they didn't even ask... Good luck building up that credit
Faith

[Serinde]

Credit card companies hate DH and I: we pay it off every month, come hell or high water. We view it as a sort of extended debit card, really. And it has come in incredibly useful over the years -- for buying emergency airfares to the US and that sort of thing, where time is really of the essence. And the companies keep upping our credit, too. If they only knew how broke we really were... shhhh don't tell...