Hey /biz/, spoiled 19 year old with approximately 0 knowledge

Creditcards are methods of the bank to get you in debt because you live over your rations.
Interests are usually exorbitant and per monthly rate theres nearly no debt retirement

dont use it anon

Black Centurion has no spending limit.

Credit is you using other people's money. You don't have to, but it builds a history about your credit. If you use OPM(other people's money) and don't pay it back every 30 days your bill comes, then your credit history is bad and your overall score drops. If you use OPM and pay it off every month it signifies you are a good payer and will pay debt on time. Other things go into it like your Centurion has no limit, so how do they calculate credit utilization? They can't. So basically holding your card doesn't even really require anyone to check you out, but for plebs, if they use 30% or more of their limit, they are high credit users, which can be good or bad, but it's always good if you pay it off on time, that's all.

now... if you can't pay the bill one month... PAY THE MINIMUM AT LEAST, so you don't get collections up your ass

>>1566158
Use it now and always pay your debt the quicker possible.
You'll get a good credit that will serve you once you will need a lend. (shorter % to pay for the bank since you didn't get any payment default)

>>1566158
Hey OP.
Banker here. Credit cards can be a doozy, now I'm Australian, but I'm quiet sure it'll be the same system.
New credit card probably has its credit limit low, let's pick 1k.
Now, you use the card to purchase stuff, and son, you can go bonkers on that thing up until 1k. Spent up to 1k? Put more money on it, this is paying it off. Credit cards work on a time based structure. After thirty days of you using the card, you'll get a statement or bill. It'll have the full amount of what yoy spent in the month, as well as the bare minimum to pay. As long as you pay the minimum, you'll be dandy but you'll get crap loads of interest. To avoid, pay it alllll off son. Usually you'll have 14 days after the 30 days are up in which to pay, this way you can avoid paying interest 100%.
Any more questions? Interest can be a tough one.

>>1566158
Don't use a credit card.

Banks entice customers into getting them so they spend beyond their means, and wind up forking out tidy piles of money in interest.

>>1566207
How's it feel to personify corporations and banks as being evil and wanting to take your money? Does it feel a lot like autism and lack of sunlight?

>>1566575
As a (((banker))) is can confirm, however, if you're clever, they're very handy tools.
Say you get paid monthly, bills fall at awkward times so you use it to pay the bills, and when pay comes in you clean it all up. No interest or anything. Bloody pottery.

>spoiled 19 year old here
>spoonfeed me information I could find on my own in 30s
>bunch of people actually respond

Wow

>>1566575
>don't build your credit
Yep you're retarded

>>1566585
Of course you should build up your credit. But if you're asking for financial advice on 4chan, you probably lack the financial literacy to not fuck up your credit through getting a credit card.

>>1566578
Credit cards are fantastic if you use them properly. I doubt someone asking for advice on an anonymous image board is going to use it properly.

>>1566600
>Credit cards are fantastic if you use them properly.
they are pretty okay, but there is a huge problem with them.
basically it goes like this: card companies lure you in with rewards. but they are not stupid you only get a cut of their cut. credit cards are more expensive for vendors so they raise prices if lot of people use them, but the rewards you get fall short on what the prices increase because vendors also pay two banks and the card company also. the more people use credit cards the more cucked you all are. if you personally stop using it yo are the king of cucks as you pay credit card overhead but don't actually get the rewards.

I got into 15 k of debt wholeness in school didn't pay a year it for like 7 years got away with never paying it, now it's not even reporting on my credit file, I win !!

>>1566158
Debit cards are the way to go Anon.

>>1567133

You're a good guy.

>>1566943
>>1567133
You two nancies must both be from the EU because you sure as fuck don't speak proper English!