Has anyone used a credit card?

[Dave_8]

I have little money and since I can't have surgery this summer, I'm going to do it on my own when I turn 18 in October. I was thinking of using the money I have now for travel costs when the time comes and was wondering if it was a good idea to use a credit card.

[Bman41]

I don't think I would.  It is a crap load of interest and you will be paying on it for a LONG LONG time if you don't pay more than min payments.  I know, it sounds easy to pay more, but once that noose gets hung around your neck, it is hell to get off again.

I know, I got a couple cards and paid them off and it took a long time and still other medical debts and an old house that ate us alive ran us into bankruptcy. 

Personally, I would not.  Save the card and use it sparingly, do not rack up a balance for jack, it isn't worth it!! 

[Dave_8]

Thanks for the advice. Means a lot.

[Bman41]

 My mom and dad always said not to get a credit card, I asked why and they never gave me a real answer.

I had to learn the hard way.

Be very cautious about every single thing you put on one.  In all honesty, they can be a good thing, but if you can't pay off what you put on it, and fast, it will cost you dearly, and in this economy, paying an extra cent isn't worth it. 

And once the credit card companies start "feeing" you to death, you will find out you have paid quite dearly for that simple or big purchase.

I used to think of it as a "personal loan", untill it ended up being $3000 at my limit and then if I was late on anything, late fees and the moment it went over the limit, they tacked on another "fee" and next think you know, there is $50 a month in addition to interest added to the account.  And min payment doesn't even cover it, they expect you to figure it out.  And on an Army E4 salary, well, needless to say, I got buried.  We got it paid off and racked back up again and paid off again, and we ditched it.  It cost us dearly over the years.  Probably took us 15 years to pay off. 

So be careful with credit cards, all the best intentions of paying them off and trying to keep up don't have a single hickup that would comprimise your payoff plan. 

Best is to not get into debt that you can't handle in the first place.  And if you can't pay it off right away, then in my opinion, you can't handle it.  It isn't worth the long term payments and how much you ultimately will pay.  It just plain sucks....

[Dave_8]

Would a personal loan from a bank be a better substitute for using a credit card?

[Bman41]

Yes, if you need to get a loan, that is a far better way to go than credit cards, they are the absolute worst possible way to get cash sort of a payday loan....

[Dave_8]

What is the difference between the 2? I mean arent they the same? Because your practically borrowing money but paying it back?

[Bman41]

A bank on a signature loan isn't going to fee you like a credit card company will do. 

They may be a bit harder to get with a bank, but honestly it is worth it that way.  Credit card companies are shady on how they jack your interest rate to what they want and when, a bank won't ever change it throughout the life of the loan.

[Dave_8]

Okay one thing, I'm not stuck in fantasy land. I'm stuck in fucking hell, no matter what I do things don't get better. With every step I take I get moved two steps back. The reason I'm asking questions is to gather information on how things work with banks or credit cards. Well if I can't get a loan with a bank then I'll have to find someother way to get the money. And the step forward/ two steps back thing, that applies to my situation with my Dad.

[Dave_8]

Yeah I decided not to mess around with credit cards.

[2bfree]

I would suggest getting a loan through http://www.carecredit.com/ make sure you have a co signer at that age and also make you can make the monthly payments.

[Dave_8]

Yea actually I decided to be patient and work for the money. I dont want to regret anything for rushing things. Besides, these compression vests I have make things so much better for me. So im good for now. The only thing I hate thought is that I cant go swimming still.

[MrRossZ28]

I paid 80% cash and 20% credit card. i had a interest rate of 0 percent for the 1st 12months. See if you can find a deal like that

[tomo25mcr]

good for you dave. theres no point in working so hard for your money and paying it out only to pay as interest, it might seem good at the time but you would regret it