Comments on: The Skinny on Credit Cards – Review and Giveaway

By: texasgal49

texasgal49 — Thu, 21 May 2009 15:01:09 +0000

I got one while my husband wass away in the service. Yes I used it responsiblily. Though looking back, I wish we never got into the “hole” of using debt. If the young people of today learn nothing else from this downturn in the economy, “don’t use credit, pay as you go. Save and have a rainy day fund set aside.

By: Heidi

Heidi — Thu, 14 May 2009 15:55:11 +0000

I got my first credit card Mastercard at age 18 when I left home and started university. I had already been working part-time during high school and saving money so I managed to be quite disciplined with credit card use, despite having a limit of close to $1000. To this day I am glad to report I am still careful with credit card use.

By: Ksquar

Ksquar — Thu, 14 May 2009 12:55:52 +0000

I got my first CC at age 17 with my parents as co-signers. I went off to college after that and kept signing up for cards for free things! Over the years I have had limit increases and kept trying to keep up with the jones so I could hang out with friends – by using my credit cards. I am paying for it now. I have been educating myself on debt and how to eradicate it. I was up to $55k in debt and am now down to $49k… slowly but surely, I will get there thanks to the advice of all you PF bloggers out there showing me the way!

Keep it up and keep us inspired! Thanks!

By: Zella

Zella — Thu, 14 May 2009 02:40:37 +0000

18. But I also purchased my first house at 18, so I suppose it was fine for me. Zella’s last blog post: Missing things

By: Mrs. Nathan

Mrs. Nathan — Thu, 14 May 2009 01:23:54 +0000

Hey Mrs. Micah,

I got my first credit card last year, at age 25. We charge all purchases over $10 on our credit card because we know we’ll be able to pay it off each month and because we get 1% cashback rewards. We only charge things that we know our monthly budget will cover, so temptation is low. We got our credit card through the credit union we belong to, so it’s essentially no different than a debit card for us – I just transfer money from checking to the credit card each month to clear the balance. It works great for us!

By: Diane

Diane — Thu, 14 May 2009 01:20:20 +0000

Kathryn – Excellent Advice!

“Moral of the story for women…establish your own credit accounts (before you need them.)” – That might actually be Lesson #1!

I was fortunate to get that advice from one of my early bosses, which is why I got my 1st credit card at 21. She also told me to always maintain accounts in my own name, even after I married and I did follow that advice – it was a lifesaver.

By: Kathryn

Kathryn — Thu, 14 May 2009 00:42:54 +0000

My first credit card (a Visa) was joint with my husband just after we got married (at 23). We did OK for a while, then we had car trouble or something and a balance started building up. We went back and forth with trying to pay it down, transferring back and forth to get teaser interest rates….and finally got it all paid off after several years. Since, then we always pay the cards off each month. An interesting side story is that after 20 years of joint credit card accounts-building up balances and paying them off, keeping 3 or 4 accounts open and having credit limits in the $10,000 plus, and both of us working–when I went to apply for my own credit card in my own name, I was offered a provisional card with a $300 limit! I was so insulted. All that time I thought I was building a credit history…but I guess not. Moral of the story for women…establish your own credit accounts (before you need them.)

By: J. Money

J. Money — Wed, 13 May 2009 19:33:53 +0000

yeah, i’m digging it too so far! 3/4 the way there Just finished up their “Skinny on the housing crisis” or something to that affect too…..REALLY cool reading it in such comic-book style.

and btw, 24 hours ’till PF Happy Hour!

By: Diane

Diane — Wed, 13 May 2009 18:25:58 +0000

I got my 1st credit card at 21. I was working and on my own, paying my own bills and I handled the card responsibly, so I think I was ready.

It wasn’t until much later that I got into credit card debt, after I was married. This was a direct result of marrying someone who had different financial values.

We still handled the debt responsibly until his business failed, at which point he fell apart, refused to deal with anything, we divorced and I was left holding the bag. (Community Property state, so I was responsible for HIS debt I didn’t even know about…)

Lesson: Be sure you marry someone who has the same values that you do when it comes to money, among other things!

By: Little Miss Moneybags

Little Miss Moneybags — Wed, 13 May 2009 16:21:52 +0000

I got my first credit card when I was 24. I actually think I waited too long, because by that point I didn't have any credit history and I got turned down even by store credit cards. I had to go with a fairly shady secured card company, who took my $500 deposit and wouldn't give it back until I threatened legal action several years later. I had to close the card when I switched to a "regular credit card", so I lost the two years of credit history that I did have. I would have been responsible enough to have it earlier, but I was wary--too wary, it turns out. Little Miss Moneybags’s last blog post: success!