Credit Cards

emcee · Posted: Sun Jun 01, 2008 6:52 pm Post subject: Credit Cards

I'm looking to apply for my own credit card - yay! - now that I'm old enough. I know there's a big responsibility that comes with them, but I'm only planning on using it for when I shop in the US (which is like, once or twice a year) and if I ever want to do online shopping so I won't have to charge it to my parents' cards anymore. So I was just wondering for those of you guys who have credit cards, which ones are you using? Are they good - customer service wise and interest rate wise? My friend recommended the Coast Capital Savings Student Card, it has one of the lowest interest rates I could find (18.4%) with no annual fee, plus complimentary travel insurance...so I am thinking about that one at the moment.

SUGARR* · Posted: Sun Jun 01, 2008 7:19 pm Post subject:

superstore mastercard lol =P
i dont remember the perks of it, but i'm pretty sure its supposed to be pretty good. id look into it =)
i think any credit union cards would be pretty good too -- assuming.
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seasunsky · Posted: Mon Jun 02, 2008 5:51 am Post subject:

you know that you can call the number on the back of your card and talk to them to see if they'll decrease your interest rate, right? Not that I've done it. But its totally a legit thing to do.

http://www.ndp.ca/creditcards
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emcee · Posted: Wed Jun 04, 2008 10:25 pm Post subject:

^ Oh, that's good to hear! I don't actually have a card yet...so I guess that isn't really an option for me, cause I am assuming they will consider lowering your rate if you have a good credit rating (which is non-existent for me at the moment!) but I will definitely look into that once I get my card.

electricpearls · Posted: Thu Jun 05, 2008 3:22 pm Post subject:

^I saw that on 20/20. You can call them and ask them to lower it (or threaten to cancel haha) and they'll usually lower it for you because they don't want to lose a customer.
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zincy_zinc · Fashionista Joined: 30 Dec 2007 Posts: 26 Smiles: 0 233

I got my own credit card on march, and I spent $1900 in one month. then I cancelled it cause I knew I couldnt pay it off right away, and that if I kept it I would continue using it.. and just when I went to cancell it i found out that the interest rate was %28 !!!!!
so untill now I've only paid off $900 .. and $1000 more to go.
thats my story.. so be carefull when u use it..
and also, dont forget that all those little things add up really quickly.. like $4 from starbucks, $7 at mc.donalds and all those little things that you buy..

Q- you know when you pay "minimum amount" only.. do they still charge u interest or not?

DeadDisco · Posted: Sun Jun 15, 2008 10:43 pm Post subject:

I just signed up for my first credit card. I applied for the BMO Student Mosaik Mastercard. It has a 18.5% interest rate which isn't too bad. Plus, I get Airmiles.
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emcee · Posted: Fri Jun 20, 2008 2:45 pm Post subject:

^^ Yeah they still charge you interest on what you owe.

SUGARR* · Posted: Fri Jun 20, 2008 9:53 pm Post subject:

the only time you dont get charged intrest is if you pay it off right away.
other than that, that's how they make their money =[
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Sweet<3 · Posted: Thu Jul 24, 2008 12:23 pm Post subject:

êxactly! ^ I don`t have one and I am not planning to get one soon, I don`t know if I got one I don`t think I would ever use it, I`d be to scared too! But when I am older I will my mom is so good with her credit cards so I get all my advice from her.