When I first got my master card I went on a shopping spree. After maxing out my card and the bills came monthly, and I had a heck of a time paying it off. Nearly 2 years for things I bought that's pretty much useless to me right now. I vowed never to buy stuff I can't afford to pay in full.
Yes, 17 is a bit young for a credit card. Glad you realized what happened now in order to fix any past dilemmas.
it's good that you have realised your mistake at such early age.....however credit cards are not bad when used prudently and paid back on time(interest free period)....
I'm sorry I can't agree. There will be some important purchases that I want to obtain in the hopefully near future (such as a new car or house), and that many cards will only hurt your credit score and show you as a high credit risk.
Credit cards do have advantages. But it is very important to have self control with respect to using credit cards. Otherwise, the effect could be disastrous.
Having one or two credits too me now is okay, if used sensibly and for emergencies. I pay the balance on one card off every other month and keep a small running balance on the other. This is all for my credit files.
I have EXCELLENT credit. In fact the brand new house I purchased I bought souly on my credit score, I did not have to even show how much I make. I also drive an H3 and Mazda 6, no problems with my 'credit' at all.
Although Spiegel helped me start to build my credit file, the company wasn't at all sympathetic when I ran into difficulties paying my bill. That was then and hopefully now they are more customer friendly.
After some time, effort and a little bit of research, I found out the name of the agency sponsored by the Federal government. At this site you can request credit reports from each of the three major credit bureaus once a year "free". There is no criteria to meet, when you go through this site. Again it is a free service offered to everyone once a year. The name of the agency is: Annualcreditreport.com or you can call 1-877-322-8228
Car Tip: Gas One tip to help you save on gas now: Don't drive with all the windows and/or sunroof open-causes wind drag, which slows down your car an decreases fuel efficiency by more than 5%.