Chosen by Asker

Bank card is most likely a debit card. You use it like a credit card (and it can still have the Visa logo) but the money comes directly out of your checking acct. So you're not really building any credit with those. Credit cards are like Visa, MC, AM Ex and Discover. When you use those the money doesn't come out of any acct. It's like they buy the item for you and you pay it off over time, but at a ridiculously high interest rate. Credit cards are like the crack of the credit world. You would be better off purchasing a vehicle or something to establish credit. Or building a savings would be even better. It is VERY easy to get into trouble with credit cards. If you insist on using a credit card to build credit, purchase one item and wait until that item is paid off before purchasing anything else.

by Namaste

3 weeks ago

Asker's Rating: 

Dont do drugs man....and dont be too open minded, your brain just might slip out.

by Murphy- 3 weeks ago

The person above me answered the question nicely. But I wanted to add that I recommend that you have a parent co-sign with a beginner's loan or a low-interest loan. You must pay these off over time to build credit. It's much easier if you have a co-signer. (I didn't and I'm stuck paying seriously high interest rates. But credit is necessary for almost everything in the adult world.) Don't check your score too often. That will bring down the number. And you have to continue to use credit to keep it. The number will fall back into non-existence if you don't. Also, if you have a co-signer and you miss a payment or don't pay at all, it will bring down the co-signer's credit, too. Always a perfect way to kill a good relationship. I suggest you start building credit soon. I waited until it was almost too late. You can't buy a car, land, a home, or even furniture or appliances without it. Trust me.

by Gypsy- 3 weeks ago

O.K u might get different opionions on that, this is mine: a credit card is a card that u use to spend from the banks pocket .. without u paying anything in the time of buying. but remember u have to pay it in a while. usually credit cards companies offer 30 days for repaying ur debts, or the amount u used in buying. a bank card is a debit card, where u deposit 100 to spend later. some banks offer overdrafts, where u deposit 100$ for example, and u can spend 150 $ the 50 will be spent as credit where the bank charges u for the use of their money. i use both VISA and AMEX, i'm more comfortable with VISA b/c its accepted everywhere. Finally always be careful .. its a double edge sword !!

by Zico Z- 3 weeks ago