Should I Get Some Credit Cards?

[gull]

If you do get a card, make sure to NEVER carry a balance. Always pay it off in full each month. So many people have dug themselves deep into thousands of dollars of credit card debt. Make absolutely sure you don't become one of them.

Also, look for a card with no annual fee and good rewards. Ignore interest rates and teaser deals; they shouldn't matter if you pay your balance off every month.

[Big Boiler Dawg]

Okay, you just have to have a credit card, and you say can handle one. If you're in college, this is a no-brainer - just apply for one at the numerous booths that will be set up on campus when when you return next fall. Make sure there are no fees. Get a free t-shirt or stadium blanket while you're at it. (BTW, credit card companies just love college students, because most of them end up as loyal revolvers.)

If you're not in college, go to a pro baseball or football game and sign up at one of the many booths at the stadium. Also get the blanket or t-shirt.

Then just use the card to pay for gas (assuming you have a car). That way, you know won't go crazy with it. You could even stick it under the floor mat for extra insurance. Pay it off every month, on time.

Speaking of gas, you might consider getting a card for the gas station you frequent most. I believe these are pretty easy to obtain, and it's unlikely you'll go on a spending spree at Shell...

Then when you have a real job, apply for a card from your local credit union or USAA Savings Bank. They won't rape you in case you do slip up and are late on a payment or go over limit. My USAA card doesn't hit me with a late fee or report me to credit agencies until I'm 60 days late. No over limit fees. No cash advance fees on convenience checks. Think BOA or Citi would be so kind? It has a nominal rewards program also.

Speaking of rewards programs, nobody ever got rich from rewards programs. You get rich by being smart, managing your affairs wisely, planning ahead, living below your means, and not taking on a bunch of stupid debt. I wouldn't worry too much about rewards.