That you actually have to pay for the stuff you bought through a credit card. =)

debt is slavery

First and foremost: ........ IT'S NOT FREE MONEY. Wait wait, what was that? Oh yeah....IT IS NOT FREE MONEY. It's so easy to think "hey, they gave me a $2500 line of credit, I'm gonna go get a new HD tv!" Then the bill comes, and you have to pay it back..and if you don't pay it all back at once, you have to pay FEES for not paying for all of it. It's not free, it's not yours, and it's not a gift. That's the main thing :)

1) If you use a credit card, you have to budget making the payments on it, including any interest. 2) A credit card isn't a license to overspend your income. 3) You should never charge more than you can afford to pay off in a month.

That they are not free. And that they come with a cost.

Don't put anything on a card you can't pay off monthly!!!

that credit cards are very very evil.

They DO have an ending.

Credit cards are BAD!! Using credit cards is spending money that you don't have, and soon you will have less.

If you use your credit card make sure you have the money to pay it off that mmonth.

If you use your credit card make sure you have the money to pay it off that mmonth.

As Steve Martin and SNL said once "Don't buy things you can't afford" With a fair bit of experience in the debt industry I can assure people this is good advice! Don't get a credit card until you are in a position to make it work for you as opposed to the lender.

It is a really actual quesion this time. I have read a lot of articles about student credit cards. They give you hunderds tips about it in such articles. The main tip is choose your card carefully and do not cross your credit limit.

they are pure evil....and whats worst the devil offers a better apr....

Short answer: They're evil. Long answer: If you can't afford a thousand bucks, then how can you afford a thousand bucks plus interest? If you can't afford to save twenty bucks per week, how can you afford to pay twenty bucks per week plus interest? Most stuff you buy wears out, breaks and loses value over time. You really don't want to still be making payments on it when that happens. eg. don't take ten years to pay for a TV that only lasts five years. Only borrow money for things that go up in value. It can make sense to borrow money to buy a good business, well placed real estate, quality shares. Eventually those things may take care of their own repayments. But even then, you wouldn't do that with a credit card because the interest rate would be too high. You'd use a special loan for the purpose. It doesn't make sense to borrow money for lounge suites, TVs, washing machines etc. These things wear out and break. After you've paid them off, they are no longer worth the money you spent on them. At school, pay attention in maths class. Learn algebra. Learn everything you can about calculations involving compound interest. If you're good at algebra then you can work out for yourself the bits that the teachers say are 'too hard'. This will give you good grounding in what borrowing money is all about. Credit cards are an 'easy way out' for desperate people. They can be used for your good if you have lots of discipline and pay things off in the interest free period but it's not worth the risk. Sometimes shit just happens, the temptation is too great and before you know it your repayments equals your disposable income. The rate of interest is usually extortionate. Understand that credit cards are a great way to make money out of 'foolish' (for want of a better word), desperate or uneducated people. That's why they are so popular. Banks love them. I was over thirty before I got a credit card and even then, I only got it because it's hard to hire cars and things without one (though that's not a good excuse, really). I hate the thing. If/when you get one, always remember that you can just keep putting money on it so that it is in credit, not in debt. That way when you spend from it you'll be using your money, not the bank's money and so you won't be paying interest.

They are for convenience, not to buy things you cannot afford "right now"... There's a difference between "ability to purchase" and "ability to afford to purchase"

The very basic. It's not free money. You will have to pay for it later and the sooner the better.

Credit card is not a TOY!!!

Self control.

THat it's not free money!

Credit cards are easily abused and are hard to repay because of the high interest rates that most of them charge.

Spend only what you can pay off within a year.......

That it CAN be FREE money :) I use one for every purchase. Pay it off in full and get money back, plus make interest on the money up until I have to pay it.

For young people? Only use them for rent cars and hotel rooms. Pay the balance upon leaving the establishment.

Not to ever get one. Or if they have to have one, most people have to nowadays, it should be one with a small credit line and paid each month in full. Emergency use only. That's what I've taught all my young people:)

not to use them! That creditors are loan sharks and not ethical people.

They aren't free money, you have to pay it off no matter if you have the money or not...or you run into them calling you everyday until you do...and your credit score going to shit...they are NOT worth it...if you don't have the money, don't get it...credit cards aren't worth it unless you make sure to put money aside to pay it

In two words: BE RESPONSIBLE!

you have to pay for what you buy later on

well.. always get online banking so u can immediately check what has been purchased and for how much. in my case, i went online just to see what my balance was. it showed that i had almost reached my limit!!!! there was a charge for 400 from sprint that i did not make. man was i PISSED!

well always get online banking to immediately check what was purchased and for how much. in my case, i went online to check my balance and it showed that i had ALMOST REACHED MY LIMIT!! it had a charge from sprint for 400! man was i pissed. i immediately called the credit card company, they closed the old account and gave me a new credit card and i was not held responsible for that 400. thank goodness.

also find a FIXED rate........

I wish I would have known that ONE IS ENOUGH! I began collecting them and was up to 9 cards with debt on each card at one point in my life. It's unnecessary stress, one card is enough for emergencies.

Don't get any.

IMPORTANT!!! THINK OF IT AS YOUR FUTURE MONEY.... always pay in full unless you have a 0% intrest rate... always know your apr and when in question call customer service (do not let them sell you ANYTHING) ask all the questions you like and if they cannot answer ask to talk to supervisor. and remember it never hurts to ask for them to wipe finance charges. I used to work for citi cards customer service and learned a lot..... im 21 and have awesome credit so do as I say and you will too!!! IMPORTANT!!! Never do a balance transfer if you have a balance on the card that you are transferring TO!!! THE WAY YOUR PAYMENTS WORK ARE KNOWN AS A PAYMENT HIERARCHY... YOU PAY OFF BALANCES WITH LOWER APRS BEFORE HIGHER...... SAY YOU TRANSFER 3000 FROM ANOTHER ACCOUNT WITH A PROMO APR OF 3.99... BUT YOU HAVE A 1000 BALANCE ON THE CARD YOU ARE TRANSFERRING TO AT AN APR OF 19.74%.... HOW IT WORKS EVERY PAYMENT YOU MAKE PAYS TOWARDS THE BALANCE WITH THE LOWER APR SO YOU ACCRUE 19.74% ON THAT THOUSAND EVERY MONTH UNTIL YOU PAY OFF THAT 3000 PUTTING YOU FARTHER IN DEBT.... I HAVE A SURPLUS OF INFO "THEY DONT WANT YOU TO KNOW" SO YOU CAN WRITE ME IF YOU NEED ANYTHING!!!!!

Stay away from them. Even if you intend to pay them off once a month to "improve your credit rating" emergencies happen and you may not do this. Just don't get started with them and you're finances will be much more in control.

They are the devil.

how not to go into debt.

That they are for their benefit not the benefit of the credit card company. Pay them off every month that way you pay no interest and the money stays in your account up to six weeks longer gaining interest for you . If you need to but something large get a personal loan the payments and interest will be a lot lower. Better still wait until you have saved enough money to buy the item.

In my opinion, the smartest thing to know about credit cards it to STAY AYWAY FROM THEM!

Step One: Put Credit Card in a zip lock bag. Step Two: Fill bag with water. Step Three: Place bag in freezer. Follow these three steps and only remove the card when it is absolutley necessary. use the card. then repeat steps 1 - 3. this will keep you out of credit card debt

To always pay WAY MORE then the minimum amount due.

how to get one under parents name without them finding out

its the middle class scam. high compounded interest rates will suffocate you over time. its important to play the credit game if you want to have a bright financial future. if you dont, you wont be able to leverage your assets to make important purchases like vehicles or homes (most folks dont have enough liquid assets to make these types of purchases without loans). for a super credit score keep two revolving accounts/credit cards (three max!). make purchases every month and pay them off on time without fail every month. dont pay off your card completely, keep a small balance on them. as you establish good credit, you can renegotiate your interest rate. if you currently are in financial trouble, dont close your accounts, it will hurt your score. just pay them off. make sure you nurture the credit lines youve had the longest, itll help your score. if you are really in barney, talk to a credit counselor. they can help you wipe off dings off your credit report and negotiate on your behalf with creditors. some credit repair companies will help you consolidate your debt, which you pay off in small, manageable amounts every month.

i think credit card is like a masquerading monster, at first you think it's nice to have credit card because you can buy anything you want without paying for it right away but when your bills come you have no choice but to pay for it because if you can't pay on time there would be interest. and because of that interest, you'll be paying more than what you have actually spend.

Dont just pay your minimum payment each month.....dont become careless eg a one day millionaire...u do eventuallly have to pay it back & dont allow the company to keep increasing your credit if u think/know u cant handle it. & remember u need more of an input that u do an output! If your feeling overwhelmed cut it up and pay it off before it gets out of hand...trust me it could ruin your life!

never max, charge a little pay the minimum build your score that way it works great if you have control

If you never had one when you were young, you will never be able to get one when you get old. They call it "You have no revolving credit history". Even though i have $10,000 in MBNA stock, they refuse to give me a credit card.

dont get one!

They are your first big chance to irreparably screw your life up.

RUN AWAY!!!!! They are eeeeviiillll.

"RUN AWAY!!!!! They are eeeeviiillll" Exactly, I haven't used a credit card in over 25 years or had a car payment. Credit cards are legal loansharks.:(

1. someone has to pay the bill eventually 2. try a debit card instead and feel real achievement when you save money to buy something 3. to learn that if they earn 10,000 a year that means they can only spend around a third of that safely - ie 3,000 4. do not miss the payment day and do not pay minimum payments for too long - cos it will end up costing you a small fortune in the long term 5. know when to cut up the card - if you have overspent too much cut the thing up now!!!!!!!!!!

They are great. I enjoy having one. BUT you must learn how to use it. NEVER, Never, Never not pay off the entire balance at the end of the month. Never run a balance from month to month. Never just pay the MINIMUM amount. Never buy something you cannot afford. If you don't have the disipline, then don't use one.

We used to be told that mortgages were "good" credit, and credit cards were "bad" credit. LMAO !!!!!!

Stay well away from them :P

credit card is just a solution for those who do not have money right away but likely to have in near future. With credit card purchase only those item which you can afford and soon you can paid off the credit. otherwise you might be in bad condition.

That greed equals pain.

The eternal burden they can be

They are the first step to indentured service.

They give you AIDS.

That if you can't afford to pay it off when you buy the ITEM/s then don't use it. Credit cards are very very dangerous.

Never ever get a credit card EVER. I think that no mater how carefull you are especially at a young age you can get in serious trouble with a credit card . I am 2,000 in credit card debt and wish i never got it.. Use a debit card instead that way you are only spending what you can afford to lose.. believe me with a credit card and the limt of 3,000 you will want what you don't need and you shouldn't have.. I am sure there are people who agree with me who are much more in debt that i am.

They should watch the documentary movie 'Maxed Out'.

to freakin avoid them if at all possible. the should only be used in case of extreme emergency or if there is not another option

that there is interest charged on your purchases if you don't make a pymnt in full before your due date (that means if you just make the min pymnt interest is still charged) and if you are late on your pymnt (even just a day late) And that even after paying the interest there will be trailing interest after that. If you can make the pymnts in full it is good to make the min pymnt at least so you will have a good credit rating which will reflect on your credit report. These credit reports are used to evaluate to see your history on how you've handled credit (credit cards, loans, ect.) Therefore, if in the future you decide to purchase a house the bank would give you a loan on the basis of your credit history (credit report). So, basically that's an in depth view of what you should know about credit cards and how your responsibility towards taking care of your credit can affect you in the future.

If you never get the first one, you'll die rich and happy. If you must get one, pay it off every month before it accrues interest.

They're made of cheese! http://uk.youtube.com/watch?v=ziRBdj5ZQuc

young people hate it when there is lots of forms to read, they will sign anything to get money quick even if the intrest rate is high. I would say just one thing you have to pay it back

That they make shopping a whole easier.

do not get 1, if you do have 1 emergancy only!!!!

Live within your means. Never spend more than you are able to pay back. Pay your bills every month.

you gotta pay to play

How that just because you have a remaining balance left doesn't mean that you should use it.

It should be called a debt card not a credit card and only use it in emergencys or if u know u can pay it off when the statement comes in!

Hello Mac Daddy Keithold, thank you for your question and my answer is... "That they are little plastic pieces of Satan." Have a good day!

1. That they should always pay off their balance at the end of the month. 2. If they decide to make a purchase knowing they won't pay it off by the end of the month, have a solid plan on where you're going to get the money to pay it off in later months. 3. They should use an online credit calculator and see how long it would take them, using minimum payments only, to pay off a $2000 debt. And how much interest they'd pay during that time.

dont have them!!! me and my husband have never had credit cards and wont either, if you cant afford it, save for it!!!

TO USE THEM SPAREINGLY, BY MAKING SURE EACH MONTH YOU PAY OFF WHAT YOU CHARGE ON TIME. OTHERWISE YOU'LL GET INTO A DEBT, YOU CANT GET OUT OF. TAKE MY WORD FOR IT. TO GIVE YOU A IDEA. I CHARGE $5752=2 CHARGES. AFTER NORMAL PAYMENTS ON TIME=DOWN TO $3100, THE DEBT JUMPED TO $6200, THEN $9300, NOW ITS $183,000.00 JUST BECAUSE A BANK REFUSES THEIR PAPERWORK. SO BEWARE, JUST CHARGE WHAT YOU CAN AFFORD AND PAY IT OFF ON TIME EACH MONTH. HAVE A NICE DAY. MIKE

To never have one. I never have and never will either, never hear anything good about them to be honest.

The ONLY way to have one is NEVER charge more than you can pay off at the end of the month! If you cannot pay it in full,you dont need one.

They will work on learning where mom and dad keep them.

Step one: DO NOT GET ONE if u think it would be a good idea incase something happens THREATEN THEM WITH THIER LIFE if they use it on anything ealse. GO FOR DEBIT ONLY

Don't ever, ever get one. They may sound like a necessity, but they're not. Credit card companies will just rip you off with hidden charges, monthly surcharges and outrageous interest rates. Be practical while you have the time and save your money if you really want to buy something. The credit card companies are not there to help you become a responsible human being, they're there to make money off of you to impress their stockholders and make money they will. If you owe $5,000 on a credit card and only pay the minimum payment each month, you'll never, ever be able to pay it off.

If you get one I will cut my hand off. Its obvious I didn't teach you a thing growing up. There are no good reasons to have a credit card ever. ever. You are never to old for me to take out a contract on you in cash. Don't do it.

That it would be much smarter to use them to pay for school than to get student loans. You CAN eradicate credit card debt by bankruptcy but NOT school loans, so you would theoretically be able to go to school for free. I sure wish I had known that when I went to school. All those scare tactics about bankruptcy are false. I have several friends who went through bankruptcy and it has never affected their ability to have a place to live, a job, or anything else.

Monthly payments on CC can add up quickly until you not have enough to money to pay for all them.

Only use them if you can pay off the balance that month.They are evil but help build up your credit score if used appropriately ( paid off monthly)). I use my mine for groceries,gas, purchasesj - get mileage but pay off monthly.

To use them sparingly as they have killer INTEREST rates .... NEVER charge anything for anyone else as you might NOT get paid back ... Don't matter WHO it is ... Just watch Judges Judy and Joe Brown ....

I would advice anyone to use a credit card as it was a debit card. Don't spend more than you can pay off by the due date.

That they cost you way too much to have. I do not or never have had one credit card. If I can not buy I save until I can.

that you STILL have to pay what you owe! so don't spend too much.

Never get one...I haven't.

Don't get one. Your better off without the debt in the long run. I'm 20 and keep asking my mum if I can get one, I always get the answer "NO".. I understand that.

If you don't have the money to buy it outright then you probly don't need it. I am 24 yrs old, I own my own car, have a house that will be paid off in a few years, just graduated from college and do not have student loans to pay off... ect... I have friends that are 10 years older than me that are still paying off their student loans and credit cards from college.... Not because they needed them to pay for college but because between classes and drinking beer they didn't find the time to have a job so they used loans and credit cards to pay for everything!!! i have a friend that is 28 that will put a $5 lunch on a credit card! That to me is rediculas and my son will not own a credit card if I ever have anything to do with it. i understand that in a case of emergency that some may use a credit card and I agree with that but an emergency is not a new outfit to go out to the bars.

They should learn that debt is evil. And that debt is the antithesis of wealth. And the more debt they accumulate the farther from true wealth and freedom they will have.

That is they use them incorrectly it will stay with them for the rest of their life. People don't realize how important good credit is until they apply for credit.

They are a bad item that gets you in debt very quick.

credit cards are like instant approved loans that have no fixed interest rates so your minimum payments can be say 100dollars per month but the next month they jack up your interest double so now minimum just went to 200dollars a month you are better off getting a fixed rate small loan from bank if it is something you need that bad note i did not say want need is the key word, that way you know your payments stay the same until loan is paid. plus any time you deal with those evil credit aholes 1 missed payment ect ect bad credit my advice if you cant afford it off of low income salary dont get one they send like a million of those preapproved junk ones to me all the time shredder is right next to desk where they go if you want something save up for it i suggest never use credit unless there is no other choice and it could effect you for the rest of your life. one other note you can be a good personnever miss payments or nothing and interest still goes up so think long and hard before you get something like that.

That you don't need a credit card. You can do the good old fashion thing and save money for things you need. If you want a car, save for it. If you want a house, believe it of not, renting while saving will get you there. And you will never have to go into debt. It works! Kids these days grow up with the idea that a piece of plastic pays for stuff, WOW! they are going to make them with computer chips in them now so you just have to wave it in front of a scanner, which will cause people to spend 16% more than using cash. Learn to save, you can make it through life without a credit card. Yes, you can rent a car without a credit card too.