credit cards

Credit cards are fine as long as you use them responsibly.

Didn't you read the small print before signing up for it?

Best person to ask would be Amazon themselves.

most credits cards have an annual fee just for having them. I read one bank recently was charging customers who didn't spend enough with the card an extra fee for not spending enough with it.

They make up new rules like this all the time and the fine print will always say "terms and conditions may change at any time"

Amazon cards might be fine ????

Of course Credit cards are part of modern life though, so of course I've got one, but I never accept the banks offer to increase my limit and I only have one card so i can keep track of expenditure.

If there is no annual fee, and you don't use it, you would be good.

Credit cards can be hell. I am currently in debt with them. Not a lot, but enough to where I don't like it, and I cannot wait for the end of the year for tax returns to clear it off.

Eh, having a credit card isn't that bad, just make sure you can pay off your debt at the end of the monthTonicNightWolf

Agree.

[QUOTE="TonicNightWolf"]Eh, having a credit card isn't that bad, just make sure you can pay off your debt at the end of the monthErinye_

Agree.

[QUOTE="Erinye_"]

[QUOTE="TonicNightWolf"]Eh, having a credit card isn't that bad, just make sure you can pay off your debt at the end of the monthSolidSnake35

Agree.

I already have a debit card, and I use it!

But I need to buy a lot -really, A LOT- of things, and is better paying some bills than paying a lot of money just once.

You can cancel a credit card at any time. You'll still owe any remaining balance but you, or anyone else, won't be able to use it.

Credit cards, when used wisely, can help build your credit for larger purchases down the line. having a credit card but not using it will not help and, ultimately, your credit score will decline due to inactivity. Similarly, not making regualr payments can result in bad credit (just make sure you don't go 30+ days past due).

I have a few credit cards. I don't even need them but I use them occasionaly and pay the balance off every month. It helps boost my credit and keeps it 'fresh'. Takes discipline but can be done.

Dunno about Amazon but most store cards charge exhorbitant interest. Whatever your state's maximum is (usually 21%+). Keep this in mind. You might want to open a regular credit card after you have established yourself and lower your rate. If you are concerned about overcharging call the company and tell them to put a limit on it that can never be changed, by you or anyone else.

Credit cards will benefit you if everything is payed when the bill arrives.

Credit comes in handy when getting a mortgage.

There are two sides. Good credit management will really help your credit which is going to help you out a lot when you need to take out a loan later in life (house, car, etc.)

Bad credit management will do the exact opposite.

I'm assuming that since it's such a low limit, this is your first card. I would suggest that you don't charge more than $40 to it, keep it paid, and do your best to manage your funds properly.

Another important factor in your credit score is the average age of your accounts. It may be good to keep this card as it's your first. Keeping it up to date will give you some serious pull on your average age of accounts when you apply for credit later.

Again, this requires that you keep it in good standing.

Alreayd been said, but not using your credit leaves vagueness in your report. Creditors can't see how manage funds so they see you as a risk.

You may want to enroll in a credit tracking program. Most of them offer valueable information on what is factored into your score and what you can do to appeal to lenders.

Finally, when you are effectively managing your money, everyone wants a piece of the action. Expect that helathy credit score will increase your junk mail.

I have a credit card that I am super responsible with and I love it. I get points on my purchases, and there are no extra fees of any kind. I prefer it over cash or debit because of the whole points thing...it's like free money.