Current Events > Its bullshit that credit card companies wont give me a credit card!

(+) Yeah! (+)

I'm a young American with little cash flows. It's my God given right to acquire thousands of dollars in credit card debt

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I cant get one either. But that's a good thing.
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Doe posted...

I'm a young American with little cash flows. It's my God given right to acquire thousands of dollars in credit card debt

Youll have to start out like most other people have. Either get a small limit credit card from your local bank to get yourself started or youd have to co-sign with a parent or something.

Duncanwii posted...

I cant get one either. But that's a good thing.

yeah, a very good thing.

BroodRyu posted...

yeah, a very good thing.

You arent supposed to agree with me :(

Come on man be cool.
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Duncanwii posted...

You arent supposed to agree with me :(

Come on man be cool.

Your track record on here shows me you handle your money poorly. Someone who is poor with money management should not be able to utilize credit.

Don't they send cards out to any random asshole? (So they can get more people into debt)


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Uh, don't take on massive debt? Start small, control yourself and make regular payments.

You'll find that having a shit credit score will hold you back.

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It took me a while to finally learn how to wield them. But once I did I've probabaly made back thousands.

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Umbreon posted...

Don't they send cards out to any random asshole? (So they can get more people into debt)

Not if you don't even have a credit score. Gotta get your name on a parent's card as an authorized user or get a secured credit card to get that score

Duncanwii posted...

You arent supposed to agree with me :(

Come on man be cool.

You typically need, you know, a job and income, to have a credit card

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Just go for Discover, they accept like everyone

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Axiom posted...

Not if you don't even have a credit score. Gotta get your name on a parent's card as an authorized user or get a secured credit card to get that score

That's not true. There's starter cards you can get that have low limits & high interest. My first card was entirely in my name. Matter of fact I don't think my parents ever signed off on any credit / loan of mine.

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Tyranthraxus posted...

That's not true. There's starter cards you can get that have low limits & high interest. My first card was entirely in my name. Matter of fact I don't think my parents ever signed off on any credit / loan of mine.

Don't ever do this. Get a secured credit card if you really want your own that graduates into a decent credit card. Also an authorized user isn't a co-sign. You're just able to use a card that they have while building score. You don't even have to use it as long as they are. Basically all the benefits without having your own card

Axiom posted...

Don't ever do this. Get a secured credit card if you really want your own that graduates into a decent credit card

There's literally nothing wrong with them. They're made for building credit when you have no credit history.

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Tyranthraxus posted...

There's literally nothing wrong with them. They're made for building credit when you have no credit history.

There is literally no point in getting a shit credit card that you will either eventually close out actually hurting your score or barely use just so it doesn't close out when you can get a secured card that becomes an actual good card 6 months later

That garbage is a trap for people that don't know anything about credit cards

Axiom posted...

There is literally no point in getting a shit credit card that you will either eventually close out actually hurting your score or barely use just so it doesn't close out when you can get a secured card that becomes an actual good card 6 months later

That garbage is a trap for people that don't know anything about credit cards

How is it a trap to have more accounts/lines of credit if you pay it off anyway

lmfao bozos I swear

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Axiom posted...

There is literally no point in getting a shit credit card that you will either eventually close out actually hurting your score or barely use just so it doesn't close out when you can get a secured card that becomes an actual good card 6 months later

That garbage is a trap for people that don't know anything about credit cards

1. Your credit score doesn't really matter. It's an easy to digest measure of how good your credit rating is but it's not actually used by lenders or creditors when applying for something.
2. Credit stops counting age after 10 years. As long as you have another account open after 10 years you can close the other one without impacting your score (which isn't used anyway). Your score will go down slightly because of a lower max credit but not by any significant amount and the score doesn't matter anyway.
3. There's no reason to close it even if you're not using it anyway

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The credit score impact of closing it is beside the point tbh. There is no reason for anyone to get a shitty credit card when there are plenty of other options. Those things exist for two reasons:

1. Trick people that don't know anything into getting them
2. For people with huge debt already to rack up more debt

Axiom posted...

The credit score impact of closing it is beside the point tbh. There is no reason for anyone to get a shitty credit card when there are plenty of other options. Those things exist for two reasons:

1. Trick people that don't know anything into getting them
2. For people with huge debt already to rack up more debt

If you rack up insurmountable debt with a monthly credit limit of $250 then you're the exact type of person who should be using those cards.

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Yes you are but TC isn't. A young person wanting their first credit card shouldn't be applying for a shit credit card when you can be put on a family members card who you know pays it off build credit by doing nothing and get an actual good credit card. If they want their own get a secured one by putting a little money down and graduating to a good one months later

There is no good reason to get a card like you're suggesting when these avenues exist

Axiom posted...

Yes you are but TC isn't. A young person wanting their first credit card shouldn't be applying for a shit credit card when you can be put on a family members card who you know pays it off build credit by doing nothing and get an actual good credit card. If they want their own get a secured one by putting a little money down and graduating to a good one months later

There is no good reason to get a card like you're suggesting when these avenues exist

There's plenty of good reason to get these cards. Namely, you don't want your parents on your credit applications. The low limit also helps curb impulse spending and higher interest encourages you to pay it off completely every billing cycle which is something you should be doing anyway. The cards help teach you good credit habits and prevent you from irrevocably fucking up your future to debt since the worst case scenario is still not really that bad.

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You don't seem to understand what an authorized user vs co-signer is or what a secured card is so I'm just going to say

Don't get a shitty starting credit card. There are better options

I'll also leave this for anyone else that doesn't understand the difference

https://www.nerdwallet.com/article/credit-cards/whats-difference-authorized-user-cosigner-credit-card

In regards to below if a card is reported to one of the three authorized users are as well

Not all banks let you build score as an authorized user.

Student cards and starter cards by the same banks that offer better cards are really no different. It still has most of the benefits and you can always add more cards.

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