Credit Card

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Ok so as i believe i mentioned in another thread, ill be getting a credit card soon (it shows up on my account summary) now i dont plan on using it, using it, just for emergency gas and to build up credit, but what would be the best way to go about doing that? as in when to pay ;either before or right on the due date, i should probably keep the purchases small right? it has a 500$ limit and a whopping 22.49% APR so any other suggestions?

I don't know about em cuz I've never had one, but I have a friend who says the best thing is to pay it off each month.

You should pay by the due date - I doubt that paying before gives you any extra points.

How are you planning to pay? Mail or online?If you do online, you can pay the day it's due, but make sure it's before the cutoff time. You can set up a payment for the due dat as soon as you receive the bill, but make sure you have money in the bank on that day.If by mail, then make sure you give planty of time for the check to arrive.if you miss either of the above, you will be nailed with fines and interest.

You can also make "extra" payments, like if you use it for gas, but have the "cash in hand", you can send the payment immediatly. Some charge interest from the time you make the purchase.Credit cards can cause nasty messes. TRUST ME! I finally just got a prepaid visa. It costs me 5 bucks a month, loading it is free because I have direct deposit and I have the convenience of the card but none of the other b.s. that goes with em. I also hate checking accounts, there are holds on things, and charges that they don't openly disclose, so , if I can't afford it NOW, I can't afford it in a month...so, I use this cool thing called saving. Though with kids, it is pretty minimal..

i believe the card is coming through Chase bank which is the place i just set up my account, so would it be possible to pay off any charges right at the chase place?

and if not id probably be doing it online, and then id make sure and do it before the due date just in case theres some problem or complication

If the card is from a bank, then yes you should be able to make your payments there.

Well, if it is through the bank your using, you can have an automatic payment set up. At least then you won't ever be late, but you could pay the balance off on a different day...Just a thought, so that you don't "forget" and get dinged. You would have interest to pay, but if you had at least a minimum payment automatically set up, you wouldn't have any late fees...ever.

alrighty then that works any other helpful suggestions?

Don't carry it with you always... Or just chop it up.

The only thing I find a credit card useful for is to build caluses on my guitar playing fingers. I just press the edge of the card into my fingertips to create grooves, which become hard, painless caluses after a while.

I on the other hand, use CC's for EVERYTHING. I even pay some of my utility bills with my credit card. The only cash I use is to buy my doughnut in the morning, the occasional lunch or Mexican for dinner(they only take cash) and other small odds and ends. I regularly have $1000-2000/month on credit. Thing is, these are my monthly living expenses and I pay them off each month. It's people who use the card like it's free money are the ones who get in trouble. If the person is responsible, then using a credit card is great.

You sound like an American Express commercial. He he.

I definitely don't leave home without it.

Ok just got my card in the mail and called to activate it, how long does that usually take? and is there any notification that its been activated?

The prompt over the phone should tell you it's activated at the end of the call.

ok its activated thanks

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