Should I Get Some Credit Cards?

[Big Boiler Dawg]

[ QUOTE ]
I'm pretty young and have never had a credit card. I was told by somebody that I should get three lines of credit...which I guess means three different credit cards. Is this a good idea? If so, how do I go about picking out the best credit cards?

[/ QUOTE ]

This is a bad, bad idea.

Question - why do you want credit? Because "somebody" told you to? Who? What are their credentials? How much debt do they have?

If you have no debt right now, please keep it that way.

Credit cards are like casino chips - they don't feel like money when you use them, and that is by design.

For someone your age it is way too easy to get into debt with these silly credit cards and be paying on them forever.

Try to structure your life so your only debt is a mortgage on your home (when you get one). Make compounding interest work for you rather than against you.

You don't need car loans, student loans, or credit cards. Dare to be different, and you might just get rich, rather than broke like everybody else.

As I have said in other posts, I wish somebody had set me straight when I was young. Much easier staying out of debt than digging out.