Re: Need Help-Building New Credit

Posted by observer (152.163.189.170) on August 30, 2002 at 10:37:14:

In Reply to: Need Help-Building New Credit posted by zachary on August 29, 2002 at 23:52:13:

In general, I'd say if you can get a card with Citi or, Amex you've a better product that Cap 1, etc. I'm sure cc vendors are on your campus so, getting a student card will not be difficult.
I agree with Robert and WhyChat and would throw out one more thought about cc comapnies. They are not your friend. Study after study has shown that people who use a cc regularly for purchses tend to spend about 15% more than consumers who use a check or, a debit card. You can't create wealth by consuming. You create wealth by saving and investing and should you fall into the trap of using a card-even if you pay in full monthly, over time you'll have less assets than someone who pays for there goods and services at point of purchase.
If you decide to get a card. Try and get one from a top tier company and use it sparingly.

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