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AW - I got a credit card!
I know, I know, but I haven't had a credit card in almost 9 yrs.
Before I got married, I had my townhouse which I purchased in 1999 and my car that I bought in 2004. I paid off my car in 2 yrs and sold my townhouse after I got engaged in 2007. I always lived by the adage that if I couldn't afford to pay cash for it, I couldn't have it. Last year when MH wasn't working, I could have used some credit, so I applied and got turned down! No credit history! I had credit cards in the past, but because I didn't use them, they were closed by the banks. I don't really need the card, but I don't want to get stuck in a bad situation if something were to happen. So I reapplied last week and got the card in the mail today.
I am going to build me some credit history baby!
Re: AW - I got a credit card!
Building credit is a good thing! Call me a sucker for those credit card recruiter people on Uni campuses but I got talked into signing up for one in my 2nd year or so. And instead of just a Mastercard, I was sent a Visa as well. By the time I graduated, I had 3-4 cards. Fortunately, I never had crazy balances on there so I was able to build up credit without going into debt.
Have fun building credit
yay for building good credit
we also firmly believe in not spending money you don't have but luckily both of us are pretty frugal so we're able to have lots of cards w/o overspending... we like to take advantage of the incentives, i.e. 6% cashback on gas, 2% cashback on all other purchases, etc.
Jaime & Brent
Oahu, Hawaii | Sept. 9, 2005
My Food Blog - Good Eats 'n Sweet Treats
yay!
I'm going to post here when I don't have anymore credit cards :-P Actually I'll keep them open but can't wait to pay those suckers off!
It wasn't easy being a single mom and paying cash for everything, but I love living debt free. I still have the same car and both MH's trucks are paid off. I do NOT want a car payment ever again!
If anyone is still reading this thread, I was wondering if I pay my bill each month, will that build credit or should I carry a balance over every few months?
Congrats! May I ask what kind of card you got?
My hubby is in a similar situation...after a bad experience with credit cards after high school, he has not used credit cards for the past 10+ years. It really put us in a bind when we tried to buy a house because he had no credit score. We tried getting a secured card for him at a local bank, but he got turned down! For a secured card! It really put a damper on our dream of buying a house. I want him to try applying for another card, but I'm not sure which one yet.
Eclaire, you can build your credit by paying off your bill each month. I have never carried a balance over on my credit cards and managed to get an excellent credit rating.
I have the Wells Fargo Platinum card, no frills, but the interest rate is lower than the rewards cards. I didn't want to push my luck since Wells turned me down a year ago, so I applied for the most basic card they had to offer. Very difficult to buy a house without credit history, especially now. I am glad that when MH and I bought our house, I still had my house payment (my only credit history). Amazing how in less than 3 yrs, I was pushed out of the credit world!