re: Credit card question.

Quoting Jude ♥ JGL:" Who is your card.though? I was looking to.get.one too."

It's a Capital One Classic Platinum.

And more importantly --- it's not wise to "pay it all off" at the end of the month. As odd as it sounds... making monthly minimum payments HELPS your credit. Carrying some debt (by paying minimum payments) helps establish a history.
Not to say that you should charge up $5k & just let it fester--- it would take forever to pay that all down. I mean just that $100 or something small like that.

Creditors make their money off the interest. So, paying something straight off at the end of the month.... sure, you look responsible for doing it, but you're a bad credit risk b/c they will not make money off you -- AND you have shown no history of being able to handle/manage your debt.

I gave up my credit cards 10yrs ago. I lived entirely on what I could afford, saved for what I wanted & didn't live beyond my means. The only bills other than rent & utilities was my student loan. Fast forward to last year --- I needed credit to finance a new ac/heating system for my house. Sure, I had a great credit score (mid 700's), but I kept getting denied b/c I had NO history other than 85mths of paying my loan off. It took 4mths & a LOT of drama to finally get a credit card. I learned the lesson that having SOME debt is better than being debt-free! Congrats & spend wisely!

To rebuild your credit you NEED to pay it in full every month. Don't get caught up with making the minimum payment. That creates a bad habit and before you know it the card will be maxed out and it takes YEARS to pay off with the minimum. Not to mention you won't have the funds available when you need them. Any empty card looks alot better on your credit report

Quoting Dr. Paradigm Shift:" 19% is pretty high. But, as long as you're paying on it every month as much as you can afford, not ... [snip!] ... able to improve your credit and get a much lower rate, higher limits, cards with perks, etc. Be SUPER careful with it, though. "

Oh for sure. I mean I'll have no problem paying it off... But I just need it for emergencies. And then small things... $40 in gas here and there, lunch once or twice a month... just small purchases that I can easily pay off so that it'll help my credit.

Quoting Daesey:" And more importantly --- it's not wise to "pay it all off" at the end of the month. As odd as it sounds... ... [snip!] ... get a credit card. I learned the lesson that having SOME debt is better than being debt-free! Congrats & spend wisely!"

That makes sense. Thanks!

Quoting peekin3:" To rebuild your credit you NEED to pay it in full every month. Don't get caught up with making the minimum ... [snip!] ... Not to mention you won't have the funds available when you need them. Any empty card looks alot better on your credit report"

That is absolutely false.

Quoting peekin3:" To rebuild your credit you NEED to pay it in full every month. Don't get caught up with making the minimum ... [snip!] ... Not to mention you won't have the funds available when you need them. Any empty card looks alot better on your credit report"

It's only a $300 limit   I really didn't want more than a few hundred... because if it were $1k or more... I think I'd probably slip into spending more than I can pay for..

Quoting kthx.:" Oh for sure. I mean I'll have no problem paying it off... But I just need it for emergencies. And then ... [snip!] ... gas here and there, lunch once or twice a month... just small purchases that I can easily pay off so that it'll help my credit."

Yep, that's the way to do it.

And like was mentioned, you don't have to pay it all off every month. Make more than the minimum payment if you can and don't run it all up like crazy, but that payment history is what you need.

Quoting Dr. Paradigm Shift:" Yep, that's the way to do it. And like was mentioned, you don't want to pay it all off every month. ... [snip!] ... Make more than the minimum payment if you can and don't run it all up like crazy, but that payment history is what you need. "

Awesome  

Quoting kthx.:" Awesome  "

You sound like you have a good head on your shoulders, so I think you'll do just fine  

One more thing. Try to keep this cc for as long as you can.... since this is your first, this will establish your history. As long as it is beneficial to you & keeps a good rate and doesn't cost much for upkeep (ie: yearly fees). You will have a history from 2012 or 2013 ---- now, say you got another card in 2016 & took good care of it like this one. Then, you decide --- well, I don't need this first one, so I'll just cancel it. Well, now your credit history is only as far back as 2016 --- that will hurt your credit for a little while (creditors like to see open, active accounts with a long history in good standing).

Or, upgrade to a better card as soon as you can & keep that one as your "established credit history." You credit score will take a slight hit when you cancel this first one, but it will jump up again when your new card shows a good history. Good Luck! Do you best now & you will be glad you did when you're older and you're looking to purchase a car or house  

Quoting Daesey:" You sound like you have a good head on your shoulders, so I think you'll do just fine   One more thing. ... [snip!] ... Good Luck! Do you best now & you will be glad you did when you're older and you're looking to purchase a car or house  "

Thanks so much! I'll definitely need better credit for when I get a newer/better car. I'm paying $254 a month for a 6 year loan on a 2007....   Spent wayyy too much, but I had to since my credit is bad.

Quoting kthx.:" Thanks so much! I'll definitely need better credit for when I get a newer/better car. I'm paying $254 ... [snip!] ... car. I'm paying $254 a month for a 6 year loan on a 2007....   Spent wayyy too much, but I had to since my credit is bad."

You're welcome! It took me 10yrs to learn how to manage my credit & dig myself out of a hole when I lost my job after 9/11, but I'm proud to say that I paid it all of myself, without help or having to declare bankruptcy.

When we bought our new truck in 2010 (a 1999 Ford Explorer), I had to let my husband get the loan b/c I couldn't get one. Having no history is almost as bad as having a smurffy history. Because if you have bad credit, there are tons of people lining up to help you! lol

And that car loan (if you've been paying well on it) will help you, too! Oh and someone mentioned paying more than the minimum... that's not a bad idea on larger loans/credit. We're currently 3yrs ahead of our mortgage b/c we pay an extra $100 a month. There ARE ways to make the system work in your favor! You're smart --- you're going to be just fine  

Quoting Daesey:" You're welcome! It took me 10yrs to learn how to manage my credit & dig myself out of a hole when ... [snip!] ... an extra $100 a month. There ARE ways to make the system work in your favor! You're smart --- you're going to be just fine  "

Sorry about losing your job   That definitely puts a huge damper on finances. Especially when it's so sudden.

My car loan has been helping a ton. I've been paying on time since I've gotten it (all of my bills are on time.. I'm scared of late fees, lol). SO had to co-sign so I could get it... his credit is close to 700. But my credit score was low 500s... I think like 530? And it's jumped 50 points since getting my car  

Quoting kthx.:" Sorry about losing your job   That definitely puts a huge damper on finances. Especially when it's ... [snip!] ... is close to 700. But my credit score was low 500s... I think like 530? And it's jumped 50 points since getting my car  "

That's awesome on your score! You're also allowed a free credit check each year from all 3 reporting agencies, take advantage of it & keep an eye on it for fraud. And good to be scared of late fees, they will sink you fast!

Appreciate the condolences, but losing my job was the best thing to ever happen to me. It lead me to where I am today and I love my life --- so there are never regrets; only opportunities to better your situation! ;)

Quoting Daesey:" That's awesome on your score! You're also allowed a free credit check each year from all 3 reporting ... [snip!] ... lead me to where I am today and I love my life --- so there are never regrets; only opportunities to better your situation! ;)"

I love that