Building Credit Right Away with Credit Cards
You can never grow up fast enough.
Because I’m a loyal American, I spend money and lots of it. My current weapon of capitalist choice is my Bank of America Visa Check Card. The check card just withdraws the amount of the purchase directly from my checking account. Cool enough.
But a friend started using his fancy Visa Starbucks Duetto card in front of me. I’ve been generally jaded towards credit cards, until now. I forget the exact benefits, but he makes back a good portion of his Starbucks purchases and is constantly accumulating credit to be cashed in at a Starbucks. All of this is highly appealing to a caffeine addict.
Benefits aside, the main reason to get a credit card (if you don’t already have one) is to start building good credit. Admittedly, the Starbucks incentive will push me into the realm of credit card holders, but be warned: credit cards make it easy to spend money you don’t have. Sure I could put a new MacBook Pro on my future credit card, but I definitely don’t have the cash for that. The basic lesson of using a credit card is to pay off purchases as soon as possible, thus accumulating good credit.
Since this whole topic has disturbed my sleeping patterns, I’ve been doing some research to different types of cards and such. Here’s a list of sites I’ve looked at so far:
So go be a patriot and spend some money.