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Credit Card

My fiance and I are wanting to get a credit card...we dont have much credit yet and we want a low apr...whats the best kind to get

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MiasMommy6908

Asked by MiasMommy6908 at 9:41 PM on Jan. 3, 2009 in Money & Work

Level 2 (6 Credits)
Answers (8)
  • Best advice i can give is that it doesn't matter which one you get. Just pay it off every month so that you don't have to pay interest. If you don't have much credit it's going to be high interest so try to beat the system and build credit at the same time.
    Anonymous

    Answer by Anonymous at 9:46 PM on Jan. 3, 2009

  • We have pre-paid (greendot) thru walmart. I don't think it reflects on your credit, but you can't spend what you don't have! I only use it to online shop, but if you want to rent cars or hotels, I don't think you can use pre-paid unless you have several hundred dollars on it, but I'm not 100% certain :)
    Anonymous

    Answer by Anonymous at 12:43 AM on Jan. 4, 2009

  • your best bet would be to establish more credit... get a card, any really, but spend it on small things, and pay it off within the first month or two... soon enough you can cancel that card and reapply for another one that will give you a lower apr. Sorry but without a lot of credit or bad credit, a low apr is really hard to do.
    xxhazeldovexx

    Answer by xxhazeldovexx at 12:56 AM on Jan. 4, 2009

  • CHeck out Dave Ramsey's site on finances before you get the card.
    Anonymous

    Answer by Anonymous at 1:06 AM on Jan. 4, 2009

  • You can establish a credit history without having a balance. If you don't have a credit card now you don't need to live on a credit. Charge small amounts to any card each month and pay it off in full. You won't pay any interest then, so it doesn't matter what the rate is.
    If you qualify for a better rate for another card in 6 months or a year, by all means get another card. Don't cancel the old one. Again charge small amounts during the month and pay them both off each month. Pay them weekly or bi-weekly and deduct all purchases out of your check registry if necessary so you don't accidently spend money you don't have.

    Part of your credit score is based on number of recent enquiries (applications), total number of open accounts, % of used to available credit, and the length of time you have had accounts. The longer your accounts are open the better. The lower the percentage you use of available credit the better.
    AussieMum2

    Answer by AussieMum2 at 2:03 AM on Jan. 4, 2009

  • Don't get one unless you intend to pay it off at the end of EVERY month. I regret every card I own and when their paid off I will never get another. I've got one through navy federal credit union and I love it. I also have had chase (I hate them) and wells fargo (high interest) so I'd think a credit union would be better if you must!
    britni11

    Answer by britni11 at 3:12 AM on Jan. 4, 2009

  • im not a big supporter of any type of credit. the only things that should be on a credit type situation is a car & your house payments. everything else should wait until you can pay for it at the moment. Even a car doesnt have to be on a credit/loan. Save your money then buy. Stay out of debt. thats my advice to you, to my childern & yes i do practice what i preach. we dont do with out, as a matter fact i not only own everything but i have money in the bank. You dont have to have a lot of money to know/learn how to manage it. We are a country of "I want it NOW!", but you dont need credit if you pay for it, & if you pay for it..theres your credit line. Simple & you are never in over your head in bills eighter....just my little moma speach!
    lacyjones

    Answer by lacyjones at 8:49 AM on Jan. 4, 2009

  • My advice would be to not get one. They are trouble. Everyone says they will pay it off every month but it is so easy not to and get your self in trouble. There is really no reason to have credit unless you want to buy things you can't afford. If you want to buy a house there is a thing called manual underwriting that you can do without credit reports. Please consider the long term effects of credit. I agree with lady above, check out daveramsey.com. It is a wealth of knowledge!
    TurksMommy

    Answer by TurksMommy at 12:13 PM on Jan. 4, 2009

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