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seconded. When I was in college I worked full time but used credit cards the wrong way (and paid for it over the course of a few years). Now just about everyt
by goofygrin 18y ago
seconded.
When I was in college I worked full time but used credit cards the wrong way (and paid for it over the course of a few years).
Now just about everything goes onto a credit card (NOT a debit card) and it's paid off monthly.
Having a good credit opens a lot of doors and helps lower a lot of costs. Car insurance -- a huge factor in this is your credit score. Security clearances -- bad credit = harder to get security clearance.
Also if you ever need to self fund a start up, having good credit is important.
- bct 18y agoWhy not a debit card?
- fortes 18y agoDebit cards don't build your credit score. I learned this the hard way when I started my first job and couldn't get a reasonable credit card, despite 5 years of using a debit card (and a healthy salary)
- goofygrin 18y agoLike another poster stated, debit cards don't build credit, but there is one HUGE problem with debit cards. If someone steals your card (or number) with a credit card and spends money with it, the credit card company is out the money. If someone steals your card (or number) with a debit card and spends money with it, YOU are out the money until your bank is benevolent enough to return it. I don't know about you, but I'd rather have someone steal Visa's money than my money.