Credit card? - United Bimmer Community

**Rooz** · 02-02-2006, 10:59 PM

Wanting to get a credit card.. getting tired of the old debit one...

What do I need to look for?

**german speed demon** · 02-02-2006, 11:09 PM

DO NOT go through one of the mail order companies that make unbeleiveable ounding promises of low APR rates. Read the fine print, and if you miss a payment, that awesome 5.9% APR jumps to 24.9% and stays there. Go talk to your bank, and see what they have to offer. A low limit card is usually the best bet when starting out, then as you get more secure financially, up the limit.

Dave

**Hoppy** · 02-02-2006, 11:20 PM

exactly. go through your bank. so much better than those mail offers

**c1apton** · 02-03-2006, 12:07 AM

lowest interest rates you can find, no yearly fees... best deals are usually through your own bank because you have a rapport with them.

**jms** · 02-03-2006, 08:46 AM

most important, look for no annual fee and don't carry a balance. As your credit rating improves lower interest rates will be available. I can't stress it enough don't carry a balance.

**Rooz** · 02-03-2006, 08:47 AM

Ok, what do you consider LOW?

**BMWbeauty416** · 02-03-2006, 08:49 AM

thought the bank with as low limit as you can get
my first card was with my bank had $1000 limit and I pay it off every month

~*Teg*~

Storamin · 02-03-2006, 09:20 AM

get your parents to co sign... or take one out with them.

drz · 02-03-2006, 09:30 AM

For your first credit card I say make sure you will be paying it in full every month. If you have been using a debit card, then you should be ok with this. If you can get your parents to co-sign, thyen get one through whomever they get theirs. If you want to do it solo (or have to do it that way), your bank is the best option. My bank offered me a $300 card to start with. I laughed in their face. Then, I had to come back and take that card a few months later because I had no credit history; nobody else would give me a card.

**jms** · 02-03-2006, 09:35 AM

I joined the Navy when I was 17 so I had instant credit, anything I wanted was at my disposal, problem was you had to pay for it. So I found out the hard way, don't carry a balance. I don't know your specific situation but if you can't pay off the entire limit in 1 month, you probably have more card than you need.

**dinan540** · 02-03-2006, 10:22 AM

Go through your bank and get a low limit. A good intro interest rate is less than 6%, but that goes up after 6-12 months. If you miss a payment, bend over and hold onto your ankles because it will be a rough ride!!

Don't do the American thing and have $9000 of credit card debt. That is the average American credit card debt. It is stupid to do that to yourself especially if your young.

There is some great advice on this thread, if you heed it, you will make the right decision.

**Rooz** · 02-03-2006, 10:58 AM

No, I mean, am good at making payments.. My bank is Suntrust (used to be CCB)

**Torque** · 02-03-2006, 10:59 AM

I just got a offer for 100 grand at 7.9 percent. Should I do it?

Storamin · 02-03-2006, 11:46 AM

hell no. that's WAY too much.

i asked for 1500 and those bastards gave me 15k... thanks a lot VISA & BMW Bank of America

**Numark318i** · 02-03-2006, 01:29 PM

No credit card for me yet, but my friend charley got one from wells fargo. He was paying 12percent at first. He purchased a 1300 dollar cam corder, paid it off in two months and they lowered his percentage to 6.