I'm thinking about getting a credit card in the near future so I can build up my own credit. I have a coworker who really likes her Amazon credit card, but I wanted to get more opinions (good or bad) about them. Do you have one, and if you do what do you think of it? And if you DON'T have one, would you consider getting one at all? Why or why not?
I don't have one and I wouldn't consider on for a couple of reasonsI have 3 credit cards alreadyAfter I pay off the three I have I am going to close themCredit cards are one of the biggest traps known to manCredit cards ARE a good way of building credit but just look into all options before choosing.
You're right, they really are the biggest traps, especially if you don't pay them off on time. Luckily my fiancé and I are really good about paying things off on time. I'm looking at it from more of a "I need to build my credit" view.
I have one and am very happy with it, doesn't work all that differently to a regular credit card and has a few nice perks and bonuses you wouldn't otherwise get. How useful they are to you and how worth it is to you is something you should consider yourself.
Credit cards are a form of unsecure debt so your interest rate will always be unfair and your payments should always pay it off as a whole. Otherwise you'll have a bad time. Anyway, Amazon monitors their credit card customers pretty hard. IF they feel like your credit is dropping they will be the first to close your account which will immediately change your debt to credit ratio and force you to repay any balance as a whole. Debt is bad, period so if you're getting one make sure there's a benefit, because I don't believe you receive much benefit in this card.
