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speaking of credit cards

Discussion in 'The Lounge' started by 84gmcjimmy, May 18, 2004.

  1. 84gmcjimmy

    84gmcjimmy 1 ton status

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    How old/young do you have to be to get one? All I have is a lousy bank card... so when I order things online I have to use my moms credit card. I hate that... or else I have to mail the money which is just a PITA. So anyone know?
     
  2. sled_dog

    sled_dog 1 ton status

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    I think its 16 with parental permission? Thats how old I was when I got mine. Parents signed off on it, so if I messed up it probably would have effected their credit as well. The fear of ruining their perfect credit kept me pretty well in check, and I'm still in check thankfully.
     
  3. BranndonC

    BranndonC 3/4 ton status

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    my girlfriends dad got her some when she was 16, he paid them off (like 100 dollar limit) and built her good credit, so you could probably get one now
     
  4. sled_dog

    sled_dog 1 ton status

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    yeah mine has a $500 max(still does and nowadays that can be a problem). I just plan around that fact. I have always had to pay mine. Only time i Don't is when I go pick something up for the parents and don't have cash on me.
     
  5. 84gmcjimmy

    84gmcjimmy 1 ton status

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    Okay good because I was thinking something like 18 or something. Makes sense 16 WITH parents permission because other wise the guy/girl could get thereself into deep dept /forums/images/graemlins/eek.gif
     
  6. newyorkin

    newyorkin 1 ton status

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    I think I got mine around 19, and then only cause they mailed me the "You're pre-approved" deal, but I think in NY, you have to be 18. To this day, I have a $200 max on my main credit card.

    My highest CC debt in the past few years (aside from the house and Home Depot card) has been $400. Maxed out both my $200 credit cards. Everything else is cash or bank/check, where the money already is and won't become a black hole...
     
  7. TX Mudder

    TX Mudder 1/2 ton status

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    Saty as far away from creidt cards as you can.
    I racked up $25,000 in credit card debt in no time flat (in the past thankfully.)

    credit cards = eden's apple
     
  8. duece21

    duece21 1/2 ton status

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    That and don't let them keep bumping your credit limit. You start out w/ 500-1,000 then all the sudden you are at 10,000. /forums/images/graemlins/yikes.gif
     
  9. 82diesel

    82diesel 1/2 ton status

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    To keep your credit score high, do not charge more then 30% of your credit limit. Even if you pay it off every month, charging that high amount for long periods gets you.
     
  10. bigyellowjimmy

    bigyellowjimmy 1/2 ton status

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    [ QUOTE ]
    How old/young do you have to be to get one? All I have is a lousy bank card... so when I order things online I have to use my moms credit card. I hate that... or else I have to mail the money which is just a PITA. So anyone know?

    [/ QUOTE ]

    Why cant you use your bank (debit) card to order online? I use mine that way. My son has been getting "pre-approved" CC apps since he was 8! /forums/images/graemlins/histerical.gif
     
  11. tRustyK5

    tRustyK5 Big meanie Staff Member Super Moderator GMOTM Winner Author

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    [ QUOTE ]
    [ QUOTE ]
    How old/young do you have to be to get one? All I have is a lousy bank card... so when I order things online I have to use my moms credit card. I hate that... or else I have to mail the money which is just a PITA. So anyone know?

    [/ QUOTE ]

    Why cant you use your bank (debit) card to order online? I use mine that way. My son has been getting "pre-approved" CC apps since he was 8! /forums/images/graemlins/histerical.gif

    [/ QUOTE ]

    Canadian debit cards are not the same as US cards. Ours are not attached to a credit card, and have no visa or MC symbol on the card. It's a direct link to an account that can be straight savings, or checking. At any rate we can't use them for online purchases.

    Rene
     
  12. dremu

    dremu Officious Thread Derailer Premium Member

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    [ QUOTE ]
    Canadian debit cards are not the same as US cards. Ours are not attached to a credit card, and have no visa or MC symbol on the card. It's a direct link to an account that can be straight savings, or checking. At any rate we can't use them for online purchases.

    [/ QUOTE ]

    We got the same things down here. The ones without a CC logo are called ATM cards or debit cards.

    Now, some places won't take those -- the rental places, for instance, that reserve, say, $500 for a deposit on the card without actually charging... will tie up $500 from your checking account for a week or so, so the funds aren't available. For this reason I find it handy to have a "fake" VISA card, i.e. a credit card not tied to my bank account.

    Most banks down here will give you a VISA or MC-tagged card, though, attached to your checking account. Some banks only do these, some do both.

    My bank (credit union) calls it a "Plastic Check", which of course is better than a rubber check... /forums/images/graemlins/histerical.gif

    -- A
     
  13. gjk5

    gjk5 3/4 ton status

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    Just to clarify, it's not "with parental permission"; these cards are co-signed by the parents because in the US a minor cannot be held responsible for a debt. That means that they have no recourse if you do not pay, so they have the parents co-sign so that they are fully liable should you not pay the bill.
     
  14. bigyellowjimmy

    bigyellowjimmy 1/2 ton status

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    [ QUOTE ]
    Canadian debit cards are not the same as US cards. Ours are not attached to a credit card, and have no visa or MC symbol on the card. It's a direct link to an account that can be straight savings, or checking. At any rate we can't use them for online purchases.


    [/ QUOTE ]

    Interesting....and baffling. Why dont Canadian banks issue debit cards with VISA or MC logos?
     
  15. tRustyK5

    tRustyK5 Big meanie Staff Member Super Moderator GMOTM Winner Author

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    Equally baffling is why do US debit cards tie into a credit card and come with a logo... /forums/images/graemlins/confused.gif

    Debit card is money I already have being accessed electronicaly and directly, why should anyone need more security or the 'collateral' of the visa or MC logo. If the transaction is accepted then the money was there and was successfully transferred, if not then I don't get to make the purchase.

    If I need to buy something I can't afford and don't have the money for then a straight up credit card does the trick. I really don't see the point of combining the two.

    Rene
     
  16. bigyellowjimmy

    bigyellowjimmy 1/2 ton status

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    [ QUOTE ]
    I really don't see the point of combining the two.


    [/ QUOTE ]

    This way I can order online, over the phone or purchase something or get cash anywhere in the world that accepts VISA or MC. Even though my debit card has the logo I cannot spend over my checking account balance without an overdraft, its not a traditional credit card.
     
  17. tRustyK5

    tRustyK5 Big meanie Staff Member Super Moderator GMOTM Winner Author

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    I can get cash anywhere in the world with my debit card too. Just no online or phone purchses. A credit card works so easy for that stuff...it just seems redundant to me.

    Rene
     
  18. bigyellowjimmy

    bigyellowjimmy 1/2 ton status

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    [ QUOTE ]
    I can get cash anywhere in the world with my debit card too. Just no online or phone purchses. A credit card works so easy for that stuff...it just seems redundant to me.

    [/ QUOTE ]

    If your debit card was branded VISA or MC you wouldnt need a credit card unless you wanted/needed to spend more $$$ than you had in your account. Steve wouldnt be wondering how he could get a credit card, he could just use his debit card..... /forums/images/graemlins/thumb.gif
     
  19. tRustyK5

    tRustyK5 Big meanie Staff Member Super Moderator GMOTM Winner Author

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    I like not having VISA or MC in my life at all...

    Rene
     
  20. pseudonym

    pseudonym Newbie

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    I bet Visa and MC still get their percentage on your purchase with that style debit card
    our version cuts them out of the deal
     

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