First credit cards - overcoming my fears

Uploaded by regnothing on 25.07.2011

I think it’s time for me to face my fear, and get a credit card.
For some reason, I've always been terified of getting into mountains of credit card debt,
of paying heaps in interest for things I never really needed in the first place,
and of damaging my credit history beyond repair.
Happy now little buddy?
Yeah we'll see how happy you are when your creditors break your thumbs.
My greatest fear is of being crippled by interest, the idea of having a mountain of uncontrollable
debt, and of paying interest on interest, just gives
me the heebie jeebies.
Fortunately, paying off your balance in full by the end of each billing cycle,
is the kind of thing that can stop you from going into this kind of debt spiral.
And unlike my fleeting interest in this truck,
credit card interest is the type of problem that can follow you for the rest of your life.
If you don't want to live with genital herpes for the rest of your life,
use a condom. I didn't...
Some cards offer attractive rewards programs to encourage you to spend more. Usually though,
these programs are restricted to higher limit cards for more experienced card holders.
If you're just starting out, it's probably a better idea to get a no-frills card with
a more reasonable limit, and lower interest rates and fees.
If you use this card to responsibly manage the ups and downs of your pay cycle, you'll
find this responsible use to be its own reward.
I mean, there's no point in paying extra in interest
for a flight to somewhere you didn't want to go anyway.
Applying for a credit card can help you establish your credit history,
which is a good thing as long as you up keep your payments.
If you don't, it's exactly the kind of thing that could stop you from getting a bigger
loan down the track for say, a house or even a plane.
Australian Credit profiles are built using negative behavior like defaults, and applying
for multiple credit cards at once isn't a good look.
To you, it might just look like you're hedging your bets. But to the lender,
it looks more like this..
I'm gonna get all the lollies, stuffed toys, and plastic trucks I can,
and get on the next plane to Costa Rica.
Look, I don't think we're uh, we're gonna be able to offer you a card.
Your credit history is very poor....not to mention the fact that you're only 18 months
Well I'm shocked! I think you're being unreasonable, I think your being ageist...
Yeah and I think you just soiled yourself.
I think you might be right.
Having done my research and finally decided which card is best for me,
I think I should be alright when it comes to using my first credit card.
Hey, maybe this means I'm finally starting to grow up.
Ohhhhh it's in my eyes.
Ahhhh it burns.
MUM? Mum I got it in my eyes, what do I do here?
Ahhhh No more tears my arse.
I'll get you Johnson and Johnson.