Coyotes "Sandstorm Sale"
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12-01-2009, 06:46 PM
Join Date: Feb 2004
Location: Tempe, AZ
Originally Posted by
Oops! I misread what you said. It was my experience using cards that led me to being cash only.
Get a credit card but request a very low limit, something low enough that if you went crazy and maxed it out you could afford to pay the balance at the end of the month. This way you can still build your credit score (whose importance cannot be underestimated), work on developing responsible habits where credit is concerned and with a low risk cause if you fall off the boat so to speak, your low limit will ensure no major damage can be done.
btw...this is coming from someone who made some pretty bad financial mistakes in my early 20's. 30 days, 60 days, 90 days late, charge offs, debt collectors, the whole works! I didn't declare bankruptcy but I might as well have, I absolutely destroyed my credit. My credit score was so low I couldn't qualify for anything and I don't just mean loans. A freakin blockbuster card was tough to come by! It made my life miserable and I vowed to never go back. Once everything dropped off I slowly entered the world of credit again and kept in mind the lessons learned. I still use my debit card for almost everything but I keep a credit card handy for emergencies, convenience and for things you need one for such as renting a hotel room or renting a car. In general I do not buy things with my credit card. I have a couple of small things that bill to it each month (e.g. Netflix) so their is always activity but that's about it. It's been about 13 years since my debacle but now I have near the credit highest score you can get and I don't have any issues with credit, whether it be obtaining it or controlling it. While I wish I hadn't gone through such a harsh lesson, I think it's helped me become fairly savvy money wise.
Last edited by Sinurgy: 12-01-2009 at
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