Quote:
Originally Posted by BlueInanna
A good credit score can be of great value. Get the cards with good rewards, don't let your balance go over 10% of the credit limit, always pay on time. You know what to do. I was a fool and got caught in the trap at your age, now I'm screwed with maxed out credit cards at horrible apr's. but the trips to Hawaii and all the partying was fun. Now I'd rather have a great credit score.
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Yea, the credit to debt ratio. I know how that works and it's the only reason I keep my limits do high. I have two cards now. Considering opening a line of credit for emergency purposes since it would have a lower interest rate than the excess credit on my credit card and I don't have much of an emergency fund built up right now and won't for awhile due to tuition payments (spouses) and we're saving for a downpayment on a home and of course the retirement fund. I read lines of credit are not to common in the US?
Two cards is better than one since you get subprime and zero percent interest balance transfer offers which work great when I go into repayment mode.
On one hand, I know my normal self is quite responsible and educated about credit. My normal self can't stand even the 25 dollar electricity bill and I pay everything off early and my normal self benefits from credit and sees exactly why opening a line of credit is a financially sound thing to do. On the other hand, my ****Eing asshole bipolar brain can get all impulsive and screw me over.
Then again, why don't I just open the credit line and lower the limit on my card? Ah! I think I've got the solution!