0% Credit Cards... Interest is for suckers...

[LongBeachCoupe]

Ok... i have made this thread to help you guys out there with credit...

First a disclaimer... and please read this...Credit cards are 10x better than debit cards because they dont have your money yet... But with that protection (contest charges) comes a few others..One being points (what i used to buy my girl a louis vuitton bag) and the others being pitfalls waiting for you to screw up...

1. Make every single payment on time, defaulting on any card you own gives ALL the cc companies the right to put you into default (and charge you 20%+) 2. To perform a "balance transfer" you wait till the card arrives then you have 2 options... 1) call the new card up, and tell them your other CC's and their balances, and they will handle the rest.. or 2) tell them you want a balance transfer check issued to you (they cut you a check for $ at 0%, and you deposit it and pay your debts with it (or earn interest on it)

INTEREST ON 0% CARDS IS RETROACTIVE... this means if you owe them $5000 at 0%, and the last month passes on the promotion, and you havent paid the BALANCE IN FULL.. they will CHARGE YOU ALL THE INTEREST OVER THE PAST PROMOTIONAL PERIOD AT ONCE!!!!

With no further adeu... heres the link... Bookmark it... its updated daily...

Post here with any questions you may have and ill try and answer.. . (in addition to being a "slickdealer" i have worked at citicards (in college) and know a lot about credit... If you already screwed your credit up by sending in late payments etc... i cant help you.

http://www.bankrate.com/brm/ra...f=&ac=

A little more infohttp://articles.moneycentral.m....aspx

http://www.creditkarma.com <--- this site rules, 100% free, and it does a "soft check" rather than a "hard" one on your credit (hard checks are recorded, and count against you... you can do a soft check daily and it has no effect!)

[windex]

Excellent Info!!!

[LongBeachCoupe]

Guys please dont feel funny to ask a question... its much better than screwing yourself over. If i didnt want to help, i wouldnt have posted it!

[gatorglaze]

Where does everyone here get their credit score at? Im not paying 15 bucks a month just to get a damn number that i should be notified of anyway. Im a newbie credit card owner but i basically make sure i have the money in my checking account before i use my credit card. I didnt get a credit card to buy things in advanced, i got a credit card simply to get a jump start on my credit score so when i move out in a year or two, i'll at least have SOMETHING. Or just ask mom and pop to cosign.

[LongBeachCoupe]

This is what a CC is supposed to be used for! props for not getting yourself in hot water!

There are 3 credit unions that keep your score, they are required to give you a free report on request 1 time per year.

[flame1]

This is what a CC is supposed to be used for! props for not getting yourself in hot water!

There are 3 credit unions that keep your score, they are required to give you a free report on request 1 time per year.

great site

[gatorglaze]

I have to request it right?

[LongBeachCoupe]

yep. contact them (just do one) and you can get your score/report 3 times a year essentially (one from each credit union)

[Serkle K]

Hey, LBC, you mind if I email you some ?'s about financing and credit? ... I'm at work right now, and I remembered about this thread... Just wanted to make sure you're cool with it before you start getting wierd emails from someone you weren't sure of.

[LongBeachCoupe]

send away!

btw i get 5+ emails a day from members or lurkers asking questions.

[Serkle K]

Cool, thanx... I'll be home around 7ish, so I'll be able to do it then, thanx again!

[Marisha]

signed up with providian (now wamu) for a visa credit card that's got a credit profile built in, so once a month that thing will get updated and i will have my score for free

[Serkle K]

You got mail!