Is it a good idea to get my first credit card to get myself a good credit rating?

I'm twenty and have never had credit. I'm very sensible with my money and have a steady full-time job. What do you think?

Is it a good idea to get my first credit card to get myself a good credit rating?
Don't get a credit card.
Reply:go for it, it will improve your credit rating but once you receive the card chop it up so your not tempted, thats what i did, works like a charm lol
Reply:yea it is a good idea to build up your credit rating, only as long as you pay it off each month in full, otherwise you'll get yourself in debt and thats not good.
Reply:Yes, this is a most sensible idea. Remember of course, just use the card once - pay it off at the end of the month and you have a good credit rating. Please also remember to ensure that you are registered on the Electoral Register for your local area as this will also assist you in your crfedit rating!!
Reply:yes to the first bit





no to the 2nd bit





what matters is that you make payments, so if I was you I would get one and then put something on it you normally pay cash for (like petrol, or shopping) - save that money and use it to pay it off in full every month. that way you dont get charged any interest but do get a credit history because you have made payments.





I did it with a guaranteed card 1 year after my bankruptcy. After 9 months it had given me a credit history that allowed me to get another with a decent credit limit, so I know it works
Reply:The best thing to do is to use it as a gas card and as soon as you receive a bill pay it off. That it's what I started doing last year along with my car loan that my parents co-signed, and I now have great credit. Banks like to see revolving credit that has never been paid late. If you are a student you can receive a CC that has no interest rate just for college students.
Reply:if you treat it well and always pay the bill bang on time you will get a better rating might not be enough to qualify you for a mortgage but it will go in you favour if you go about it well
Reply:Fico ( I Love Debt) score worship is not a good idea.


Stay away from credit cards. They make all the rules and change the rules anytime they want too.


Banks spend millions brainwashing people into thinking they need credit cards and a High I Love Debt score to make it in todays world. Bull. Pay as you go. You'll come out ahead.
Reply:What you need to do to build up your credit score, is apply for one (1) credit card. Charge no more than $100 a month for a year, but pay your monthly credit card bill in full each month. Also go to your local bank and apply for a $1,000 personal loan for a one year term. Put this $1,000 into another bank by opening a savings account and pay the $1,000 back to the bank within 2 to 3 months. You will find by paying your credit card and bank loans in full every month, your credit rating will increase. It is a good ideal to have your own credit card, but limit it to one card. For every card you apply for, you are only asking for more credit card debt. Stay away from that. Good luck.
Reply:It is, if you can pay, all the debts on 30 days deadline, before they charge you interest, or go for interest free credit cards.
Reply:the best way to start credit is to get a small pesonal loan or a credit card with a small limit and use it for you small purchases but pay it off at the end of the month this is one of the fastest ways to get your credit up, check out www.fastcreditcardapprovals.com here they have the right card for people with good, bad or no credit, they let you compare side by side which helps you see and shop better for you credit card of course the better credit you get the better card you qualify for, so once your credit score is up you need to get a better credit card do not stick with the same one because begginer credit cards allways have higher interest and fees. Good luck.
Reply:good idea is to have one , use it and pay the balance off in full every month and DONT BE LATE with your payments
Reply:yes it is ggod to have a credit card to help your credit rating. Only if you use it and pay it off every month. do not let any balance go to the next month and it will rise over time
Reply:It's better to never borrow money for anything, except possibly for a house. Then, it doesn't matter what your credit rating is because you never have to borrow money.


That said, if you pay it off every month, you are ok. Also, have some money in savings in case of an emergency so you don't rely on the credit card if your car breaks down and you need extra money or you get laid off or something. You sound like a responsible person, so you should be ok.





Best wishes.