/biz/ - Business & Finance

[Anonymous No.10982895]

My cousin was selling a car, a REALLY nice car for only a $1.5k, and I don't have a car yet so I tried getting a loan, but I have no credit so I couldn't.

Can someone explain credit cards to someone who basically just got started in the real world? Family doesn't help me at all, I'm pretty much on my own. I tried asking multiple family members for advice on this stuff but nobody helped.

I just need to know how it works and what exactly I need to do in order to not get screwed over.

[Anonymous No.10982901]

NEET

[Anonymous No.10982959]

>>10982901
I was homeschooled since I was 12.

[Anonymous No.10983068]

>>10982895
Loaning money from a credit card is an easy way to get in debt fast with exorbitant interest rates. Youre better off trying to find a credit union that can loan you 1.5k at a much better interest rate, doesnt seem like it would be too difficult.

[Anonymous No.10983079]

>>10983068
It wasn't so much for a loan, as it was to build credit. I want to get a credit card for that.

The car is already gone, my cousin said he wasn't going to wait for me to come up with the money.

[Anonymous No.10983082]

>>10982959
How old are you? Do you have a job yet?

[Anonymous No.10983087]

I think if you have a cell phone bill or any bills it should count towards your credit score.

[Anonymous No.10983103]

>>10983079
Well are you a student? Do you have income you can verify to back up your credit card? Like a job

[Anonymous No.10983123]

>>10983082
I'm 22, I have a job now. I've had one for two years.

It took me until I was 20 to get out of my NEET phase, and I haven't gotten a car yet since I figured I was fine with walking.

That was before I was mauled by a dog.

>>10983103
I have a job. I could pay my credit card I think, depending on how much the monthly cost is and how it works. I don't really know how it works.

[Anonymous No.10983129]

>>10983123
>spoilers don't work

That's what I get for never going on any boards other than /v/

[Anonymous No.10983149]

>>10983123
Basically you apply online for credit cards. Make a creditkarma account so you can monitor your credit and get offers. IIRC Capital One has a credit card for beginners like you, but you have to deposit at least $100 first. There's also local credit unions if you have one in your local area that can help you build credit, inquire on that.

Always remember though, credit cards are basically the deviljew's loans that sucker alot of people into paying interest instead and ending up in debt. Don't buy shit you don't really need with a credit card and always pay your balance at the end of the month.

Also if you need a car, buy a cheap reliable car first like a Honda or Toyota. Cars are insanely expensive money pits if you fuck up and don't know how to fix it, you need something reliable above all else first.

[Anonymous No.10983246]

>>10983149
Thank you for this advice, thank you very much.

How do credit card payments work? I probably won't get one now, but I'm still curious.

[Anonymous No.10983298]

>>10983246
You just pay it monthly online with your bank account. If you pay it all off in full every month you won't get charged interest. Unfortunately these days you do need a credit card to build a credit score. If you have shit credit score it becomes really hard to find an apartment to rent in many places because they do a credit check on you now. Not that it still isn't possible to live in modern society using cash only, but ((they)) are really trying hard to make everyone use credit cards and have a credit score.

[Anonymous No.10983335]

>>10983298
Man, I just wanna go back to being a NEET.

[Anonymous No.10983342]

>>10983129
>hanging out on /v/ in 2018
Why?