<p>I was able to finance a new car 100% at a competitive rate and terms 3 months after finishing college and before I received my first paycheck at my first “grown up” job that I had just started. I never had a credit card in college…just used debit card mostly and checks. I was denied a credit card that I applied for at same time as car loan though and waited about 6 months to reapply for a credit card and was then approved for a $5000 limit. I don’t really need the credit card and I guess I could get more credit cards if I wanted, but I got it mostly to help build my credit score if I maybe refinance car loan or need better credit score for anything in my future.</p>
<p>Wow, I never that those of us who don’t carry credit card balances which we ‘revolve’ or roll over from one month to the next are DEADBEATS vs the ‘revolvers’ to keep a balance.</p>
<p>Wow, have never considered myself a deadbeat and H was highly offended when he heard that is the term used to apply to us and others who pay off balance in full each month. Something new we learn all the time. Anyway, I & my kids & loved ones intend to continue our DEADBEAT ways CCards, which allows us to enjoy the benefits with no apparent cost to us for them.</p>
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<p>The fact the credit card industry uses the term “deadbeat” in such a manner illustrates how warped its perspective could be. Personally, I wear that label with some bemused pride. :)</p>
<p>Take a bow Himom and anyone else who’s a “deadbeat” in the eyes of the CC companies like us. :)</p>
<p>Proud deadbeat…and I will keep taking their 50,000 sign up bonus points as well…</p>
<p>Oh yea, many of us ‘deadbeats,’ have stellar credit scores and get instant credit cards with fun perks like signing bonuses worth $500 or more per card, 2% cash back with extended warranties, and many other cool trophies to make it worth putting up with a little namecalling.</p>
<p>I thank the credit card companies for all the gifts they have given me and my loved ones over the years of deadbeatness. 
They are far more generous with us than I had expected and have no regrets.</p>
<p>We currently have huge credit limits and lines of credit, so I can’t see any downsides from the ‘deadbeat’ lives we enjoy living. 
Our kids are happy being deadbeats as well–it’s a matter of pride to S to see what deals he can score by getting credit cards. His latest is trying to get a card that will give him 3% cashback.</p>
<p>I honestly don’t think having the CCards makes us spend more money than we would otherwise. It does make balancing my checkbook a lot easier and we don’t have to reorder checks nearly as often (we get those and notary services free as well, plus a personal banker–good treatment for us ‘deadbeats’).</p>
<p>I have never had a credit card for college, as of yet. Then again, I’ve had bad luck in terms of a job and only been in college for a year. Now that I have a (somewhat) stable job, my dad wants me to apply for a CC at the local bank to establish a good credit record. So, I guess it’s helpful in some parts of life. I honestly prefer using cash and PayPal, using Debit in case of an emergency, and I believe the only thing I’d be using the credit card for is minor grocery shopping.</p>
<p>Well, they may call us deadbeats, but they still like sending us cards. If you are spending plenty of money on credit cards, they want your business. Especially Amex, who charges the merchants the largest fees to use their services. I figure if they didn’t want us to use their cards, they wouldn’t keep approving us and sending us more offers!</p>
<p>So…I presented my son with the positives and negatives of getting a credit card (based on the excellent information I received from this thread), and no dice. He isn’t interested in getting a card. Though I’m sure I could hard sell him on this issue if I felt strongly enough about it, it is surely his decision to make. So for now, no dice. He thinks, despite all the information presented (and my obvious bias for credit cards), that it just isn’t necessary, and it’s additional hassle. I personally think it is less hassle, but what do I know (after 30 years of having credit cards).</p>
<p>Oh well, of course it’s his choice, and if he decides he wants one in the future, it takes about 60 seconds to apply online. My youngest (in college) has been prodding me about this for the last year, so maybe I’ll pass onto him the offer to get 40K points for signing up (that means getting a $400 check), because you may as well get paid to get the card. That’s more than two weeks of full time summer salary for him (but about a days work for his brother, so maybe that’s why it’s not meaningful to him). Getting a check like that is worthwhile for me, that’s for sure.</p>
<p>Attribute: Wander into your bank and tell your banker you’d like to get a credit card. My daughters asked before they headed off to school, filled out the paperwork, and got their first credit card in the mail on their 18th birthdays.</p>
<p>busdriver,
Wow, I am impressed by your son’s ability to stand firm in light of the force he was confronted with! Having a cc would require him to write an additional check each month and on time, so it is an added hassle in that regard. I have observed a staunch aversion to debt in one of my Ds, to the point that I’d actually call it “fear,” that I attribute to her awareness of the student loan crisis of her generation. </p>
<p>As you point out, he can easily apply when he is ready, and with a good job and rental history, he should not have any problems.</p>
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Do you mind sharing card with the $400 sign-up offer? Thanks</p>
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<p>Or clicking three buttons…</p>
<p>I’m getting a credit card for the sole reason to establish good credit. If I can always pay it off at the end of the month, why not?</p>
<p>3togo…there are many cards that offer 40-50k in bonus points, but they do require a minimum spend in first 1-3 months.</p>
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<p>…or having automatic payments set up to pay the balance each month and having to do absolutely nothing.</p>
<p>Having established credit early really helped my kids with applications for housing, car purchases, etc. Not a bad idea to have a cr. card even if its used only for emergencies.</p>
<p>After I posted, I realized my terminology error (“write a check”), which was an autopilot remnant from the past. I knew it would be handily corrected by this crowd :). </p>
<p>I pay everything by cc to get the mileage points, and pay my bills online (not by check). I do not autopay my cc bills because I like to review them for fraud and errors before paying. So for me, having credit cards does add a bit of extra work.</p>
<p>Adding also, that I do not link any monthly payments to my credit cards, (except for two), because my cards get frauded about every six months and have to be replaced with new account numbers. It is definitely a hassle to have to notify those two vendors every time this happens.</p>
<p>Bay…I review my CC almost daily online…pending charges show up immediately. I can actually track my wife’s store trips when she goes shopping…lol Anything that doesn’t look right I see right away and either call in or even just click on the “dispute transaction” link and do it online. Fraud every 6 months sound strange…I do everything online via CC and have been compromised twice that I remember.</p>
<p>“Bay…I review my CC almost daily online…pending charges show up immediately. I can actually track my wife’s store trips when she goes shopping…lol”</p>
<p>Which is why I spend more money when I use cash. No evidence!!</p>
<p>“Or clicking three buttons…”</p>
<p>Three…button…clicks. Or automatic. The ultimate no hassle. There must be more to this story, some confusion, or something else.</p>