My first question to you would be why do you want one? To make purchases if you don't have the cash with you? Get a check card (sometimes called a. show more My first question to you would be why do you want one?
To make purchases if you don't have the cash with you? Get a check card (sometimes called a debit/credit card) attached to your checking account. You can use it anywhere Visa/MC is accepted.
To make purchases until you HAVE the cash (in your account)? That's a REALLY bad idea. If you can't afford to pay for it now, how will you pay for it when the bill comes in? If you don't pay the bill in full, you're now going to pay interest - which means that $100 item you just bought will end up costing you $120, $130, $140, or more - depending on how long you take to pay for it. Did you know, if you only make minimum payments on credit cards, it can take 40 YEARS to pay them off. HONESTLY.
Here's a good one - to improve my credit score? Your credit
score is just a number lenders look at to see if you can manage your money. A much better indicator is how much money you have in the bank. Do you think if you have NO credit history and $10,000-15,000 in the bank, they're going to turn you down for a loan? Don't think so.
Stay away from credit cards, put money in the bank with every paycheck and you will be better off than 75% of Americans. Five years ago, we had $16,000 (yes, thousand) in credit card debt, $43,000 (again, thousand) in student loan debt, $60,000 in mortgage debt, and a car payment. Today, we have no credit cards, two PAID FOR late-model cars, money in savings, and the only thing left to pay is the house and I couldn't be happier. No more worries about creditors calling, no more worrying about which bill doesn't get paid this month, no more wondering if I should pay the credit card or buy food for the kids. I will NEVER go back there again.
Don't be normal. Normal is $8000 in debt and no savings.
Debt-free is the way to be.