Do You Have A Credit Card?
If not you should get one as soon as possible.
Why?
Well contrary to popular believe, especially in the United Snakes, credit cards are not a bad thing. They make things cheaper for you, they provide you many protections, they may even give you free money (rewards/bonuses), and they can get you out of a bad situation if you really need that and you have absolutely no other choice.
The day you turn eighteen you should have gotten a credit card.
The sooner you get one means the sooner your credit history starts and your cards age, which means a higher credit score.
You probably shouldn't go apply for a "real" credit card or one with good rewards, such as (X) amount of money if you spend (X) amount of dolars. You simply won't be approved for that.
Go get yourself a secured card, or a real garbage no-rewards card from some big company, as big companies while they're destroy the world with your support, they won't be as likely to screw you over directly.
Realistically any will work, but currently, at least in the USA, the best card to start out with is this guy, the Discover It secured version, and while it will cost a couple hundred to set up, it'll build your credit and naturally upgrade off that scum-bag secured status after a handful of months.
Other cards often do not upgrade (or have any rewards) and thus you really lose out and potentially may even have to close your account (or prefer to) as secured cards look bad and are often not willing to be upgraded, so make sure you can get rid of that sucker and upgrade no matter what later on, as closing your account not only takes away age, but also generally looks bad.
As long as you don't act like 90% of the population and use it as if it's a credit card, rather than as if it's a debit card, then there's no reason not to get a Credit Card and get one as soon as possible.
Hi there. Although I agree about having a credit card for emergencies and reward points, I believe a young person may get into too much debt with this easy money. Maybe not everyone, but it happened to me when I was younger and I really learned a lesson when I couldn't pay the monthly minimum. Also some cc are charging 29%.
Not sure if it is a wise choice.
Having said that; I used one today. But I am much more disciplined in my old age. LOL
That's why I added in the "As long as you don't act like 90% of the population and use it as if it's a credit card, rather than as if it's a debit card, then there's no reason not to get a Credit Card and get one as soon as possible" at the end.
I'm nineteen and I have multiple credit cards already and over a 10,000 credit line and I don't even have a job, a house, a car, or anything.
Doesn't matter what a CC charges, most of mine charge 30%+, simply pay it off at the end of the month every single time in full. It'll make your credit skyrocket and it'll give you 2-10% everything you purchase.
Hi thatadvocate
Sounds like you are respondible person. Your post brought back memories of when I had credit cards in my early twenties. . .
Keep steeming. . .
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Your article is spot on.