credit card?

Question

okay, so I'm 20, and I just got my first credit card to help build my credit.. it's really hard to get approved for a credit card for me because they always say "i dont have credit card history" (duh, if you wont approve me for one).. anyway, my friend told me a kohl's card was really easy to get approved for, so I did it.. I want to use it for baby clothes and stuff because my baby will be here in February.. so what is the best advice someone can give me? I dont wanna spend soooo much money and end up behind on payments.. but I know if I just pay it off when I use it, it wont help build my credit???

Answer

Only spend what you can pay off every month. Don't carry a balance on it. You don't want to think of your credit limit (The amount of money that you are allowed to spend on that card) as actual money. If you carry a balance from month-to-month, you will accrue interest, which means that you will wind up paying more money just to be able to spend money.

Answer

Bring cash or a check so you can pay it off as soon as you use it. Or just put $50 on it for one credit cycle then pay it off. Don't use it after that

Answer

Only use 30% of the available balance and pay more then the minimum on time every month

Answer

Discover has a kind of "beginner" card. I think it's called a secure card? You put down a security deposit then that's your credit limit. Then use it like a credit card and it will build credit. Once you get good credit they give you back the money. This is how I started building credit.

Answer

Don't use it unless you have the cash to pay it off. Also pay it off monthly. Credit cards take forever to build credit but only take one time to ruin it. If you can get a small bank loan and that is a quick way to build credit, that way you make small payments.

Answer

Put money aside and then change that amount on the card and then pay it off with the money you put aside each month.

Answer

*what you said was incorrect. about if you pay it off it won't build credit. that's not true. * only put on the card what you can pay off. basically if you don't have cash to pay it right then it doesn't need to be on the credit card. once your bill cones in pay it in full. It builds your credit and you won't pay interest. your not hurting yourself that way-you are only helping.

Answer

Don't put money on it you don't have. So if you had money to buy x number of baby clothes only buy those ones and then pay it off as soon as you get your next statement. I always pay more than the minimum, too because I know my old work used to kinda swindle people by saying "it's interest free for x months!" But if you paid the minimum you couldn't pay off your card in the time frame (I worked in jewelry though so a lot of people loaded up their card for an engagement ring and then got mad because they would pay $20 a month and then get interest on the account)

Answer

Honestly my best advice with credit cards is as soon as you swipe that card, you pay it off! It is way too easy to just start swiping your credit card for things you can't afford. To me, using a credit card that you don't have the money to turn around and pay right off should only be done in extreme emergencies. I remember when I turned 18 my dad co-signed for me to get one through my bank, and even then that is exactly what I would do. I would just make small purchases and turn around and pay it right off. 
Also, please keep interest in mind. If you don't have the balance paid off by the end of the billing cycle, they charge a ridiculous amount of interest and if you let it stack up too long, then you'll solely be paying if interest fees and not even touching the amount that you actually spent on your items. 
I definitely think it's wonderful that you want to build your credit and that is an important part of being in the adult world, but my biggest advice is to just be very careful with any credit card you get, whether it's this Kohls card or another one in the future!

Answer

I wouldn't spend over 200 each time 
Pay around 25% each time  ($50) 
And then the next month do it again. 
Or you can go up to 300 and pay 30% ($90)
To keep safe I wouldn't go over that.

credit card?

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