I'm 21 and I don't have a credit score. Is it wise

>>3330599
Get a single credit card and just make sure you use it responsibly.

Otherwise it'll be a bigger pain in the ass if you ever need an auto loan or a mortgage.

>>3330617
Are all credit cards created equal? Will I get one and then realize that some other one vastly eclipses it with rewards or whatnot. Or are rewards just gimmicks that don't really pay off?

Depends if you plan on getting a new car, an apartment, or certain jobs(to which you should avoid if they do a credit check).

You can always buy used cars, put up a contract with a bank to pay for your future house. Not sure what the process is called is exactly. I'm sure an anon can let us know.

I didn't get a credit card until I was 29 (because I never spent any money I didn't have), and I regret it. My credit score now is average, when it could be great. It's a big scheme and the ratings don't make any sense, but they're still important, so I'd just get a card and use it wisely to build up a little history.

>>3330644
>Are all credit cards created equal?
Absolutely not, and I think you know that. Make sure to check the APR and terms before you sign the bottom line.
> Or are rewards just gimmicks that don't really pay off?
Depends to be honest. They can be decent if you rack up a lot of points, but for me they're a gimmick.

But if you're just going to establish credit, then having it in the first place is what matters. It'll be a lot easier to apply for others with established credit.

>>3330691
This anon again. I got a Capital One card to build up my credit. Going fine so far. No fees. Pretty low limit, but I don't need it anyways.

Same age, but my credit score is stuck at 650 because I don't use a credit card. Just use it to buy groceries and pay for gas, and then use the money that you actually have in your checking account to pay it off.

>>3330711
This.

If you pay it off before the month ends you avoid the interest. Always try to do so to avoid the interest.

>>3330729
To clarify, to actually build your credit you have to wait until they bill you for a month's worth of purchases, then pay it off before that bill is due to avoid interest. If you pay it off once a week, for example, before they've billed you, then you don't help your credit at all.
(This was something I learned by accident.)

>>3330599
If you already have a debit card from your bank and it's Visa or Mastercard, I'd recommend getting an AMEX as your first credit card. You have to pay off your AMEX at the end of each month and there's no interest rate. This will keep you from falling into the trap of paying the minimum payment and racking up debt.

I have the Premier Rewards card and try to use it for every purchase -- ends up with about $30000 of charges on it each year. Factor in double points and all that stuff, you're looking at about 60,000 points per year. That's like a free flight or a couple gift cards all for just using their card instead of cash.

Once you have a credit card, never use your debit card for anything -- especially online purchases. Your credit card will have much better fraud protection and you aren't at risk of someone draining your bank accounts.

>>3330757
Yes, thanks for clarifying.
>>3330758
Another good point, AMEX is good to start off for that reason.

>>3330757
THAT IS GOOD TO KNOW

>>3330758
Will Amex accept me with no credit history? From what I understand they're the more 'prestigious' credit company

>>3330850
They have a couple tiers -- some are marketed toward first time card holders.

Remember, credit card companies want you to have a credit card. If you're not accepted, they'll work with you to get you in a card.

>>3330850
Well if you apply for the lower tier card, you'd may be approved.

I believe the current entry level card is the Blue Card, which has no annual fee.

Now if you applied for a Gold Card, then that'd be a different story. but as >>3330903 said, credit card companies want customers and will try to hook you up.

A bank will offer pretty much anyone a $500 credit card. Use it and pay it off completely every 5 or so days. Dont use it as an excuse to be nigger rich. Trust me I learned the hard way, im 2k under for like the last 10 months

I'm not sure why people are this fucking stupid.

Do not buy what you cannot afford simple as that.

Rather invest to get more money.

Why in the ever living fuck all these idiots pay interest/free money like good boys is beyond me. You are literally burning money away.

>>3330599
get a card from chase or amex, try not to use more than 30% of your total limit per month, always pay your statement balance. it's really not that hard.

>>3330599
without credit you are nothing in this country

go work at a credit card company for a few months. you'll then believe me when i say that loaning money for 1 month is the worst negative ROI you can do to your finances.

Especially the US is addicted to credit. Your worry about a "credit score" tells me you are from the US. Think about why you are worrying? Who wants you to worry about your credit score? That's right: the money lending machine.

we get rich no matter what. you pay off your debt every month? we get money. you do not pay off your debt every month? we fuck you and take your money and reputation. what do you get? "free money" is what your mind thinks, and this will reflect in your painless spending patterns. But muh kickbacks? thats already priced in. it is the cheap crack we use to hook you in and turn you into our slave, forever in debt to people richer than you. muh easy fraud protection? dude, credit cards see the most fraud of all financial instruments. we first created a problem, and then sold you the solution.

dont fall for this scheme. else you are contributing to the upcoming financial crisis and credit card crunch.

spend only what you currently have. cash is the best: it actually hurts you to hand over physical cash, so you dont spend it on frivolous shit above your means.

if you need credit, you are doing it wrong. if you havent paid off your college debt, then you are doubly fucked.

just for once try to see the world beyond the US. look at first-world cultures that dont operate on credit. where kids like you (you are a big boy, but 21 is way too young for a credit card) never get a credit card.

only then you are comfy.

>>3330706
Anon why does the APR matter if i am paying on time? I am also a5 score newfag to credit but i have 12k in crypto. I wana build credit was just gonna get some capital one shit.

>>3332214
In case you fuck up, that's why.

>>3332069
Credit won't matter for anyone in 10 years. Screencap this.