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fuzzy_logic posted:I have a question about the weird limbo situation I'm in, didn't think it was worth its own thread. I got out of grad school about a month ago and am job-hunting, and running low on money. I need some cash to buy groceries and stuff and pay rent, to tide me over until I get a job, but since I'm not a student anymore I can't get any student loans. I'm unemployed so the bank won't lend to me with a personal loan. My family's in a bad place financially atm so I can't go to them. There's a very very good chance I'll have a job within a month - I'm interviewing at a couple places right now, I have a grad degree and I'm in a city where there's a decent number of job openings. I just need a temporary loan to carry me through for a little while. I've been looking at payday loans and credit cards and things, but I feel like I'm not informed enough to risk any of them without getting hosed. I'm pretty much resigned to getting hosed on APR, so what's the best way to get as little hosed as possible? Not even sure if you could get a payday loan. They prefer to give those to people who will have a pay day at some point in their near future. But even if you could get one, they are horrible and prey on the desperate. A cash advance on a credit card is way better. That said, I don’t know if you have good options. The way I see it, if you can't bring in money somehow, your options come down to food banks if you can’t feed yourself or moving into your parents basement. Desperate and stupid march hand in hand and I think the best you can hope for is to not do stupid right now.
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Aug 23, 2011 21:51
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Have you applied for food stamps, fuzzy_logic?
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Aug 23, 2011 21:54
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Yeah, fuzzy_logic, don't feel bad about using aid or charity services that are out there as a stopgap, especially because you can resolve to give back to the food bank or church group or whatever once you have a paycheck coming in, or volunteer with them to help others. They're designed to help people who are in a bind, and really a lot of them would be happy to help someone who is so poised to become a success story.
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Aug 23, 2011 21:59
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Zeta Taskforce posted:Desperate and stupid march hand in hand and I think the best you can hope for is to not do stupid right now. That's why I came here, in my current position there's far more people trying to gently caress me over than help me, and after awhile you start looking at those "sell your eggs" ads and a little part of your brain goes "you know ... that's a lot of money..." (no I am not selling any of my eggs, ever). It's discouraging that there's apparently no system for me that'll just loan you a grand for a month to get your poo poo together. It looks like I do qualify for food stamps so I'm going to follow up on that. The scammy credit card offers I get in the mail all the time are starting to look really tempting - horrible idea or *really* horrible idea? Oh, and don't worry too much about me starving to death, I mooch off my boyfriend a bit. It's weird that there's a little middle ground between "doing okay but need some extra income" and "living in a cardboard box on the street," because I'm not really in either of those situations right now.
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Aug 23, 2011 23:08
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Does anyone here use an online only checking account? Something like what Charles Schwab has? Had it up to here with BoA and need out. Getting killed on ATM fees and it took me 45 minutes to get a human being on the phone last night when I realized my credit card number had been stolen. I don't need a physical location as I'm not depositing checks that often, and I rarely even write them. Just need a check/ATM card and something that will tell me my balance.
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Aug 24, 2011 09:53
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Niwrad posted:Does anyone here use an online only checking account? Something like what Charles Schwab has? Had it up to here with BoA and need out. Getting killed on ATM fees and it took me 45 minutes to get a human being on the phone last night when I realized my credit card number had been stolen. I use USAA. I'm pretty sure you do can sign up for their checking without being military now. I came from using a combination of a small local bank and BOA. I switched because I moved away from the local bank and BOA was incompetent and was charging me fees on a savings account I closed months ago. USAA is great, except that their interest rates are kinda low, but they do pay some interest on checking balances over $2500. No fees, they cover your ATM fees, you can deposit checks via phone/scanner, and if you're ever overseas for any reason they are amazing. Also, you get a real person on the phone when you call. They really pride themselves on customer service. So far every person I have spoken with has been quite helpful.
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Aug 24, 2011 12:43
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Niwrad posted:Does anyone here use an online only checking account? Something like what Charles Schwab has? Had it up to here with BoA and need out. Getting killed on ATM fees and it took me 45 minutes to get a human being on the phone last night when I realized my credit card number had been stolen. I’ve used Perk Street since last fall, and it’s been a good experience. The website is good, probably not as smooth as ING, but it’s functional. I’ve had to call them maybe 4 times, and they don’t have a complicated phone tree. You call, someone picks right up and they help you. I think at worst I was on hold for about 40 seconds. They did send me paper checks which I’ve never used and there are ATM networks you can use without paying a fee, but they don’t have ATM fee refunds. The real selling point is their debit card which gives you 1% or 2% cash back if you use it as a credit card. The quickest way to redeem the perks is through Amazon.com. They email you a code that you can use to buy your stuff.
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Aug 24, 2011 14:31
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Niwrad posted:Does anyone here use an online only checking account? Something like what Charles Schwab has? Had it up to here with BoA and need out. Getting killed on ATM fees and it took me 45 minutes to get a human being on the phone last night when I realized my credit card number had been stolen. Schwab is good. They force a brokerage account on you when you open the checking account, but it's free and maybe you'll want to trade stocks someday or something. You can also deposit checks with your phone which is cool.
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Aug 25, 2011 02:12
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Schwab is definitely a cool choice. They reimburse ATM fees; you get a (tiny 0.25%) interest payment on the account, and you can connect it with other accounts (like if you had a separate savings account, or in my case a joint account with MY WIFE) plus the stuff Ganon posted  Sometimes I can't avoid writing checks so I just use their website and they send them (along with deposit slips, pre-paid mailing envelopes etc) free of charge  Boy I sound like a commercial but really I enjoy the service. balancedbias fucked around with this message at 03:41 on Aug 25, 2011 |
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Aug 25, 2011 03:38
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Situation: Wife and I have around ~100k left on our mortgage. We also have a good deal of money tied up in stocks. Better strategy: Take out stock money and apply it all to mortgage payment (which we pay above preium monthly anyway) or leave stock in the market and let it continue to fluctuate?
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Aug 26, 2011 14:29
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Is there such a thing as a fixed rate credit card any more? My credit score is awesome and I have no outstanding debt at present, does anyone have any recommendations on a bank for a non-Visa credit card?
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Aug 26, 2011 19:38
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Stew Man Chew posted:Is there such a thing as a fixed rate credit card any more? My credit score is awesome and I have no outstanding debt at present, does anyone have any recommendations on a bank for a non-Visa credit card? Harvard Alumni card was 7.9% fixed
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Aug 26, 2011 19:47
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Stew Man Chew posted:Is there such a thing as a fixed rate credit card any more? My credit score is awesome and I have no outstanding debt at present, does anyone have any recommendations on a bank for a non-Visa credit card? They are VERY rare. This has more to do with the 2009 credit card act than anything else. Prior to that, if you had a fixed rate credit card and the credit card company wanted to raise it, they could raise it to a different fixed rate. They would have to tell you and if you didn’t want to pay the higher rate, you could opt out, and you would keep the old rate and they would close the card. But if you wanted to keep the card, they would raise the rate on the entire thing. Now when credit card companies raise your rate, they have to honor the old terms and conditions prior to the rate change. In addition when they get a payment, they have to apply it to the highest rate first. Say you had a huge balance at 9% and they raised the rate to 12%. If you spend $100 and then pay $100, they have to apply all of it to the 12%. It might be years or perhaps never when you would actually start paying down the 9%. That would especially be a problem if rates overall in the economy ever went up. If there is anything that a credit card company doesn’t want is to be on the wrong side of interest rates, especially if the balance might never go down. It’s safer to have a variable rate that will float up when interest rates go up.
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Aug 26, 2011 20:04
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Bigass Moth posted:Situation: Wife and I have around ~100k left on our mortgage. We also have a good deal of money tied up in stocks. What type of accounts? What type of mortgage, how much time left, etc. If you have a fixed at 4.5%, then leave it. If you have an Arm at 8%, you may be better off paying it off (depending on taxes). The tax issues are too numerous to cover all of them, but basically are they taxible? are you up or down? how long have you owned them? How much of your investments do you want to withdraw? My general answer based on the way you asked the question is No. I bet it would be nice to not have to pay your mortgage, but if you have your job and are able to pay your mortgage and then some you would be making a foolish choice given the tax implications. Stocks go up, stocks go down. Hopefully your diversified and they go up more then they go down. If you can't stomach the volatility stop watching them.
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Aug 26, 2011 23:26
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Bigass Moth posted:Situation: Wife and I have around ~100k left on our mortgage. We also have a good deal of money tied up in stocks. This is kind of a silly time to take money out of the market. I'd wait for it to stabilize a bit more. I mean, I know you can't time the market, but taking money out when it's clearly very low seems silly.
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Aug 27, 2011 15:55
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Bigass Moth posted:Situation: Wife and I have around ~100k left on our mortgage. We also have a good deal of money tied up in stocks. I’m going to disagree with everyone about the mortgage. I would pay it off. But only if the following is true: 1. The money is not in retirement accounts 2. You will still have an emergency fund of 3 to 6 months after you pay the house 3. You are disciplined enough to replenish your investments at the same rate or more compared to what you were paying on the mortgage. i.e. you pay yourself the mortgage payment. If you want to dollar cost average out of the market over a year instead of doing it all at once, that’s fine. Personally I don’t think stocks have fallen that much compared to the looming risks in the economy and I think we are going below 10,000, but that’s just me. You can drive yourself crazy by worrying about rates and expected returns vs risk and taxes and come up with 100 different answers. But no one ever stays up at night worrying about living in a 100% paid for house. Think about it this way, if you had no mortgage, would you go out to a bank and take out a mortgage so you could invest in the stock market? BTW, if you did pay off the mortgage and had second thoughts about it, you are allowed to do just that.
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Aug 27, 2011 16:36
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Zeta Taskforce posted:I’ve used Perk Street since last fall, and it’s been a good experience. The website is good, probably not as smooth as ING, but it’s functional. I’ve had to call them maybe 4 times, and they don’t have a complicated phone tree. You call, someone picks right up and they help you. I think at worst I was on hold for about 40 seconds. They did send me paper checks which I’ve never used and there are ATM networks you can use without paying a fee, but they don’t have ATM fee refunds. The real selling point is their debit card which gives you 1% or 2% cash back if you use it as a credit card. The quickest way to redeem the perks is through Amazon.com. They email you a code that you can use to buy your stuff. Can you tell me more about this? I am sort of annoyed with Chase as I am getting a whopping 0.01 APY in my "savings" account, and as for checking I could care less as long as I can write actual checks (to pay my rent) and use it like a normal debit card and/or account. How do you deposit money into the account? Direct deposit is unfortunately not an option for me as I am my employer's only employee, and I also do some freelancing. Do you have a savings account? Do you find it easy to move money between checking and savings? Edit: Ally Bank is being recommended to me by Mint, and looks like one of the best checking and savings accounts. Anyone know anything about them? Rashomon fucked around with this message at 02:29 on Aug 28, 2011 |
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Aug 28, 2011 02:19
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Rashomon posted:Can you tell me more about this? I am sort of annoyed with Chase as I am getting a whopping 0.01 APY in my "savings" account, and as for checking I could care less as long as I can write actual checks (to pay my rent) and use it like a normal debit card and/or account. How do you deposit money into the account? Direct deposit is unfortunately not an option for me as I am my employer's only employee, and I also do some freelancing. Do you have a savings account? Do you find it easy to move money between checking and savings? I'm a loan officer at a credit union so I do the majority of my banking there; I have both a savings and checking account there. With Perk Street (and pretty much any online bank) you can link the account to your regular checking account. There's a place on the website where you key in the routing number and account number. About 2 or 3 days later they send you a tiny deposit and pull out a tiny withdrawal. They might deposit 37 cents and then take out 21 cents. You then go to the online account and and key in the deposit and withdrawal amounts. Then the account is verified. You can then set up a re-occurring transfer between accounts or you can do one time transfers. That's how you get money in. You can mail them checks too, but its faster and easier to do it online from a bricks and mortar bank. As far as spending it, its even easier. You just use the debit card they issue to you and use it anywhere Mastercard is accepted. Just make sure you use it as a credit card where you sign the receipt as opposed as a debit where you put in your PIN. The latter will go through, you just won't get the 1% or 2% back. I think Perk Street would be in a different category than some of the other online banks that are great places to have a savings account. With Perk Street, you are probably better off spending the money. Personally I have a regular transfer of $100 per week and that is for groceries, gas, and other day to day stuff. It forces me to stay within my budget for these items because if I don't the transaction will be declined. And then I will have $50 at the end of the year. That's pretty cool when you consider how much money you have to deposit to earn $50 in interest.
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Aug 28, 2011 03:18
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There are various checking accounts across the country that will let you get 3-4% if you jump through their hoops (often not very difficult).
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Aug 28, 2011 03:18
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Could you give me some examples?
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Aug 28, 2011 03:57
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http://www.depositaccounts.com/checking/reward-checking-accounts.html
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Aug 28, 2011 04:03
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That's interesting. I am not entirely sure any of those top interest choices will entirely suit my needs, but it's something to look into. Do you know anything about Ally? It sort of seems to good to be true, free everything, no fees, and decent interest rates. Only annoying thing would be making deposits I guess, but I suppose that's the trade off.
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Aug 28, 2011 04:53
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Pretty sure Ally is partially owned by GM. It's FDIC insured so everything should be safe.
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Aug 28, 2011 13:09
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Niwrad posted:Pretty sure Ally is partially owned by GM. It's FDIC insured so everything should be safe. Ally used to be GMAC. After the melt down and GM became a gov't controlled entity, they changed their name to Ally 
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Aug 28, 2011 15:06
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I know that Vanguard is pretty popular around here, so can anyone tell me whether Vanguard is a good place for buying individual stocks? I'm very new to this and have a Vanguard account for my recently-opened Roth IRA, but there's a local company that I like and which is projected to do very well and I wanted to buy some shares in it. I know that individual stocks are not Vanguard's forte and when I looked at opening a brokerage account on Vanguard it wanted me to first put money into a money market fund. So can anyone tell me whether I'd be better off opening an account elsewhere, or just opening the account on vanguard?
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Aug 29, 2011 03:50
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Pobrecito posted:I know that Vanguard is pretty popular around here, so can anyone tell me whether Vanguard is a good place for buying individual stocks? I'm very new to this and have a Vanguard account for my recently-opened Roth IRA, but there's a local company that I like and which is projected to do very well and I wanted to buy some shares in it. I know that individual stocks are not Vanguard's forte and when I looked at opening a brokerage account on Vanguard it wanted me to first put money into a money market fund. So can anyone tell me whether I'd be better off opening an account elsewhere, or just opening the account on vanguard? How much are you looking to invest? Most decent brokerage accounts have fairly large minimums. Don't even think about risking more than a small percentage of your overall retirement savings in a single stock.
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Aug 29, 2011 05:10
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Pobrecito posted:I know that Vanguard is pretty popular around here, so can anyone tell me whether Vanguard is a good place for buying individual stocks? I'm very new to this and have a Vanguard account for my recently-opened Roth IRA, but there's a local company that I like and which is projected to do very well and I wanted to buy some shares in it. I know that individual stocks are not Vanguard's forte and when I looked at opening a brokerage account on Vanguard it wanted me to first put money into a money market fund. So can anyone tell me whether I'd be better off opening an account elsewhere, or just opening the account on vanguard? Money Markets are how it's transferred to Vanguard. Once it's in the MM account, you're free to move it around however you want (buy stocks/mutual funds/IRAs etc.)
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Aug 29, 2011 19:25
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Pobrecito posted:I know that Vanguard is pretty popular around here, so can anyone tell me whether Vanguard is a good place for buying individual stocks? I'm very new to this and have a Vanguard account for my recently-opened Roth IRA, but there's a local company that I like and which is projected to do very well and I wanted to buy some shares in it. I know that individual stocks are not Vanguard's forte and when I looked at opening a brokerage account on Vanguard it wanted me to first put money into a money market fund. So can anyone tell me whether I'd be better off opening an account elsewhere, or just opening the account on vanguard? Check their commissions. They are reasonable but you can get better rates elsewhere. I use Vanguard brokerage because it is easier to consolidate with them. Their service is fine and never had an issue with execution. Commissions get better with higher tiered service (if you have, $50k, $500k, or $1M+ invested with Vanguard, rates get better and better).
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Aug 29, 2011 19:29
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This may be a little odd, but can you guys tell me what you think about getting a fifth wheel RV trailer? Here's how my finances look currently: I travel a lot for my job and assignments last about 3-4 weeks during which I either live onsite or at a nearby hotel. Now the company I work for has offered to give me $50/day to bring a trailer with me so they don't have such high hotel costs. It seems like a win-win. I can finance a 15-20K trailer for less than $300/mo. leave the extra ~$1000/mo. to go towards paying down my student loans and truck. Does this seem like a reasonable plan or is there something I've overlooked?
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Aug 30, 2011 12:24
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5t1n6r4y posted:This may be a little odd, but can you guys tell me what you think about getting a fifth wheel RV trailer? Here's how my finances look currently: Maintenance, Gas, Insurance, Wear on your vehicle, parking are all things that you haven't thought about (or at least didn't mention here). You are less mobile because your vehicle is now towing your lodging. Your gas mileage is further shot. Extra wear on your transmission. Higher insurance. Where would you park this thing? You can't just setup a 5th wheel anywhere. You have to worry about showers/toilets/plumbing as well. This seems like a beyond-bad idea on the surface. From a tax perspective this also sucks for you. I'd have to look up the reg to be sure, but I don't think there is an exception from Income Tax on the business use of the trailer in this manner. Currently, your entire tax situation is very straight forward as the hotel is paid by the business as their expense. Moving to a trailer, that you own, will likely be viewed as compensation and taxed as such. Also, what happens in a year when you change assignments or switch companies? You now have a $20,000 trailer with a $300/mo payment that you still owe $15,000+ on and now no stipend to cover the expenses. There is no way I would go along with what the plan they are suggesting.
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Aug 30, 2011 13:09
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KennyG posted:Also, what happens in a year when you change assignments or switch companies? You now have a $20,000 trailer with a $300/mo payment that you still owe $15,000+ on and now no stipend to cover the expenses. There is no way I would go along with what the plan they are suggesting. Chiming in to agree. You are leaving out a lot of expenses, and would almost certainly be taxed on the money the company gives you.
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Aug 30, 2011 17:05
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Why buy a toy before paying back your loans?
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Aug 30, 2011 17:41
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Why are you driving a $34,000 truck? Based on your numbers, your net worth is near zero on a good day, and your truck is a rapidly depreciating asset that represents 60% of everything you own (again, your numbers)
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Aug 30, 2011 18:06
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5t1n6r4y posted:This may be a little odd, but can you guys tell me what you think about getting a fifth wheel RV trailer? Here's how my finances look currently: I'd highly recommend trying to stick with your budget for a few months, revising it as necessary, and re-evaluating the whole trailer situation in a few months.
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Aug 31, 2011 01:25
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Well, I have kinda decided to take the plunge and get things in order. I'm a 25 years old college student still living with my parents and on the last year in college. That means I got less than a year to find a real job and go into the housing market. I currently work part time, around 9-10 hours a week (been asking for more, doesn't get through...  ) and have a meager paycheck.I have no debts of any kind. But what I'm going to look at now is investment for long term (state bonds), and what banks can offer me in terms of saving accounts. I've been planning on getting two. One that I can't withdraw unless I show up in person at the back, and another where I'll deposit money there, but withdraw during sorta big expenses. I already have one 'show up at the bank' account, which was actually created when I was born. I used the money there to buy a decent used car, and just recently a new xbox360 after the old one gave up after four years of service. I have also an extra savings account that's exclusive to the car. I pay per mile driven in it, and I got a nice emergency fund exclusive to it. I almost forgot to tell about it as I've been that adept in considering it as "not my money". I've done this for two years now, so it should be an indication I do count in insurance as well. Currently at the end of each month I pay off my 'debt' to the car, and put in 10% of the remainder of my money before paycheck into the locked savings account. My plan for savings is thus tl:dr: Locked savings account for emergencies (acquired, looking for better) Loose savings account for big expenses or when paycheck doesn't cut it (not acquired, looking) Investment for over 5 years. State Bonds (not acquired, know where to turn to) --- Low Monthly payments, I don't have a nice amount of seed money My plan of action is: Create a budget and limit my entertainment expenses. (Starting from October) Increase cost per mile into car savings (Starting next year) Future events: Get a better paying job (pretty certain) Get an apartment (lease, not buy) Get a new computer or laptop (My current one can still service me, but the 's' key is failing, and battery holds 20 min charge in use, 10 hours charge in sleep mode) And a last notice, I'm not in the States but in Iceland, so any advises on investment firms or banks exclusive to the states can't work out for obvious reasons.
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Aug 31, 2011 11:36
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KennyG posted:Maintenance, Gas, Insurance, Wear on your vehicle, parking are all things that you haven't thought about (or at least didn't mention here). You are less mobile because your vehicle is now towing your lodging. Your gas mileage is further shot. Extra wear on your transmission. Higher insurance. Where would you park this thing? You can't just setup a 5th wheel anywhere. You have to worry about showers/toilets/plumbing as well. Thanks. The only reason I was considering their offer is that it would allow me to remain essentially rent free. I've been couch surfing between assignments for the past 6 months. This has allowed me to knock out my credit card debt and a higher interest private student loan as well as build a sizable emergency fund. However, not having a place of my own is getting old and I don't want to impose on people anymore. I was just considering this as an alternative to throwing away money renting an apartment. kaishek posted:Chiming in to agree. You are leaving out a lot of expenses, and would almost certainly be taxed on the money the company gives you. The trailer pay and per diem are not taxed. But yeah, I've learned that RV parks charge at least $10-20/day. Between that charge, insurance, maintenance, ect. I might end up only breaking even on the deal. Qaz Kwaz posted:Why buy a toy before paying back your loans? I'm assuming you're talking about the motorcycle. I've had it for a while. I never have time to ride it anymore so I'll be selling it whenever I get the chance. Depreciation is low and insurance is cheap so I really haven't felt rushed to get rid of it. Zeta Taskforce posted:Why are you driving a $34,000 truck? Based on your numbers, your net worth is near zero on a good day, and your truck is a rapidly depreciating asset that represents 60% of everything you own (again, your numbers) My options were limited. Part of my compensation is a $540/mo after tax vehicle allowance. In order to receive it, the vehicle must be: -less than 5yrs old -under 150,000 miles -4x4 I didn't want to get anything that would become ineligible in a year or two. Thought about getting a Toyota Tacoma, but I didn't know what kind of towing capacity I would need. Everyone I work with has a big 3/4 to 1 ton pickup and they kept telling me that I needed the same. I ended up getting a 1/2 since I felt it represented the middle ground. Not too big. Not too small. swenblack posted:When I see that many big round numbers in a budget, I know it's not a real budget. It tells me that you've never even attempted to live on a budget before. Also, I highly doubt you could sell your truck for $34k. And if you could, it probably meant you spent more than your yearly take home salary on a car. WTF? Also, most people budget for things like entertainment, travel, car maintenance, travel, gifts, saving, etc. Your right. I didn't have my paystub in front of me so I estimated. Income should be $3888 plus per diem, but I also over estimated my food and gas so it should balance out. For an excel sheet made in 5 mins, I think it gives a decent picture overall. Eventually, I'll go through my expenses more thoroughly to get a more accurate budget. I think I got a really good deal. I bought the truck for $34,500 and have kept it in excellent condition. Kelly Blue Book values it at $34,150 trade-in or $37,940 private party. If I can't use KBB, how should I value the vehicle? I've heard that the rate may increase to $75/day. If that happens, I'll re-evaluate the trailer situation.
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Aug 31, 2011 12:01
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5t1n6r4y posted:I was just considering this as an alternative to throwing away money renting an apartment. Renting is not throwing away money. You are paying for a place to live, just like you pay for food to eat. Is paying for food throwing away money? In many cases renting can allow you to save more money since you aren't paying for repairs, and property taxes etc.
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Aug 31, 2011 19:56
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asmallrabbit posted:In many cases renting can allow you to save more money since you aren't paying for repairs, and property taxes etc. Renting (at a fair price) is always going to be cheaper than buying *because* you're not building equity. If you can buy a place and have renters pay your whole mortgage or more, you're taking advantage of their ignorance. There are a large number of reasons why it might not make sense to have your own mortgage. 5t1n6r4y posted:I think I got a really good deal. I bought the truck for $34,500 and have kept it in excellent condition. Kelly Blue Book values it at $34,150 trade-in or $37,940 private party. If I can't use KBB, how should I value the vehicle? quote:The Kelley Blue Book Suggested Retail Value is representative of dealers' asking prices and is the starting point for negotiation between a consumer and a dealer. This Suggested Retail Value assumes that the vehicle has been fully reconditioned and has a clean title history. If you really have babied the truck and kept excellent records, you might be able to get 80% of KBB excellent.
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Aug 31, 2011 20:33
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baquerd posted:Renting (at a fair price) is always going to be cheaper than buying *because* you're not building equity. If you can buy a place and have renters pay your whole mortgage or more, you're taking advantage of their ignorance. Unless the value decreses year over year, then you aren't building equity anyway.
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Aug 31, 2011 20:41
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I'm a 22 year old student who has a part-time job and I'm a full time student and I have two questions: My bank just offered me a pre-approved credit card and I already have one (with a $300 limit). Will it be good for my credit history to take the second one? I'm responsible and have never had a late payment and my rule so far has been that I dont spend money I dont have. I really only use the card to build up my credit history. My second question is about bills, paying them on time increases your credit score right? Or does FICO only look at car or mortgage loans? Thanks for the awesome thread guys.
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Aug 31, 2011 20:48
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