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Posted: 12/4/2001 1:31:01 AM EDT
Just got an email offer for an NRA visa card. . always use debit till now, because I like being relatively debt-free, but having a line of credit -- with an NRA stamp on it -- seems appealing. Has anyone else gotten one of these? Heck, any advice on credit cards generally?
Link Posted: 12/4/2001 1:37:22 AM EDT
Originally Posted By AnotherPundit: Heck, any advice on credit cards generally?
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Yeah, DON'T use them unless you can pay off the entire balance within 3 Months MAX!!!!! Trust me!
Link Posted: 12/4/2001 2:40:32 AM EDT
Treat them like a debit card and you'll be okay. :) Actually, they're a good tool for establishing credit when you're young, to rent cars and buy things on-line, and for use in emergencies, etc. I use mine for the additional warranty and I treat them like a debit card. I pay the full balance each month; no finance charges or annual fee. If you use it like this, the interest rate is not an issue because you never pay finance charges. If you have to carry a balance, then you want the lowest rate possible, a reasonable grace period (unlike my cards which give me 10-14 days because they know I always pay the balance in full each month), and a low annual fee, if any. If you treat it like an extension of your checking account, you'll do fine.
Link Posted: 12/4/2001 3:39:46 AM EDT
I have had the NRA card for a couple years. They get a small kick-back on all purchases, which is why I use it. Pay it off each month is the best advice you will ever get.
Link Posted: 12/4/2001 3:51:16 AM EDT
Link Posted: 12/4/2001 3:56:01 AM EDT
There is nothing wrong with a credit card. My wife has a stack of them. You just need to pay the balance each month. Don't charge anything if you don't have the cash.
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