My Discover Student credit card came in the mail last Thursday.
I know anyone who’s had to deal with credit card debt, and Dave Ramsey of course probably has a few issues with that sentence. But don’t worry. I have no plans to rack up any kind of balance that I can’t pay off at the end of the month. I’ll even shred it if I find myself spending more than I can afford.
For now, I’m only using the card for things I was planning to buy anyway: Cedar Point tickets, gas, normal eating out, and some stuff for college. The best part, besides being able to hang onto my money for an extra 30 days, is that I’ll be earning 5% cashback. Not a fortune, but who would turn down free money? I also have no interest on all purchases for 6 months, but I don’t plan on taking advantage of that benefit. I don’t want to fall into the “Oh, I don’t have to pay for this for 6 months!” trap.
Once I get used to making a lump-sum payment every month, I’ll consider adding more impulse type purchases to my credit card. For now though, I’ll keep using cash or my debit card.
What was your first credit card? Did you use it responsibly or did you get into trouble?
