Comments on: I’m 18! What Should I Be Doing With My Money?: Open a Credit Card http://www.thefinancialstudent.com/2010/03/02/i%e2%80%99m-18-what-should-i-be-doing-with-my-money-open-a-credit-card/ Finance for Young People Fri, 16 Dec 2011 13:55:01 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Ryan http://www.thefinancialstudent.com/2010/03/02/i%e2%80%99m-18-what-should-i-be-doing-with-my-money-open-a-credit-card/comment-page-1/#comment-192 Ryan Wed, 03 Mar 2010 03:25:22 +0000 http://www.thefinancialstudent.com/?p=1060#comment-192 I agree completely! I agree completely!

]]> By: Peter http://www.thefinancialstudent.com/2010/03/02/i%e2%80%99m-18-what-should-i-be-doing-with-my-money-open-a-credit-card/comment-page-1/#comment-191 Peter Wed, 03 Mar 2010 03:15:12 +0000 http://www.thefinancialstudent.com/?p=1060#comment-191 I'd be very careful about the credit cards. I know people say that you need one to build credit, but they're a huge temptation for many - especially if they haven't really worked with finances before. It can be easy to just start buying things you don't have the cash to pay for, and then the interest starts piling up. Beward of credit! :) Oh, and whatever you do, don't ever get one of those store cards. The interest rates are horrendous, as are the terms. If you absolutely must get a card get a card with no annual fee, a low interest rate and no hidden charges. I’d be very careful about the credit cards. I know people say that you need one to build credit, but they’re a huge temptation for many – especially if they haven’t really worked with finances before. It can be easy to just start buying things you don’t have the cash to pay for, and then the interest starts piling up.

Beward of credit! :)

Oh, and whatever you do, don’t ever get one of those store cards. The interest rates are horrendous, as are the terms. If you absolutely must get a card get a card with no annual fee, a low interest rate and no hidden charges.

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