Today, my very own first card credit card came in the mail. I applied for it earlier in the week, and it sure didn't take long to get approved for a 4,000 dollar credit line and get the card. Its actually kind of scary how easy it was. Its easy for me to see how people get into trouble with cards.
I already almost made my first mistake with my credit card in posting a picture of me with the card on the internet. Which, would have been stupid as everyone would have been able to see the credit card number. I'm glad I avoided that mistake. The fact that I almost made such a big mistake with my card a little less than 2 hours after getting it makes me a little nervous.
I got the card because I have loaned people money, and havn't been paid back, and thus, have no money myself. This problem will be solved once I can sell the Dallas Cowboys tickets I purchased, but that leaves me with a month or so with no money, thus the card.
I tell you all this so that you know that I intend on being as responsible as possible with the card. The credit card guy on the phone tells me I have perfect credit, which I am really not looking to mess up.
I tell you all that so that you can I can make this declaration: I HEREBY SOLEMNLY SWEAR TO BE AS RESPONSIBLE AS POSSIBLE WITH MY NEW CREDIT CARD. I will not make rash, unnecessary purchases. I will pay the balance on time. I will pay more than the minimum balance as often as possible.
I am putting all of this in writing, for everyone to read so that I can be held accountable, and so that I can be more responsible.
One step closer to becoming a grown up,
Jenna
Friday, November 7, 2008
Credit Cards
Posted by Jenna Coe at 12:01 PM
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3 comments:
This is a little tip for you and all those out there that are young. You may have already read this on my other blog, but make sure that you do not exceed $2,000 (50% of the balance) on that card, unless you plan on paying off the balance in that month. If you exceed that limit, you become "too leveraged" and it will actually hurt your credit for a short period of time until you improve the debt/credit line ratio. I don't think that you will run into that problem with a high credit limit, but it's easy to do when your credit limit is smaller. Also, limit the amount of credit cards that you have. It sounds like that is your first one, but given your age (and mine), you should only have between 1-3 cards because it can actually look bad to creditor and can hurt your score. Those are just a few things that I know about that can help save your score. Happy spending...
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