Thread: Credit advice, ask questions or just get some.
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Old 06/20/2005, 11:42 AM   #127 (permalink)
Alan
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Quote:
Originally Posted by np2fast
I just got a studnet credit card yesterday. I was told that this was a good way to build credit. So exactly what should i purchase with it? Would every day items be fine or should i only use it for bigger transactions? I will be able to pay off all the withdrawls i make with the card within the sameday. I dont plan on buying anything that i dont have enough money to pay off with.
It is a great starting off point. Keep between a 15-25% balance on it and keep that same amount in an account to pay it off if you ever feel the need or get a better card. As far as purchases go it really doesn't matter but a good rule of thumb is to ask yourself "Do I want to finance that?" Do you really want to finance a McD's meal? Do you want to finance a bunch of school books? Do I care, I am just trying to keep a steady balance? I don't care because I am more worried about the balance. For all I know I am financing a Taco I ate at TCB 2 years ago
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