Cabela's Visa users?

Rock Knocker

Well-known member
Well I'm 26 and never had a credit card, and somehow that is hurting me in the financial game.

I am planing going with the Cabela's card just because I would get money for Cabela's, Lord knows I spend too much there already.

Are their any worries I should look out for with this card (besides not paying on time then maxing the card out and not be able to pay it, destroying my credit and going broke)?

If there is anyone out there with some experience with this it would be great to hear. Thanks!
 
I have a Cabelas card, not much different than most out there. The no annual fee is important. Just don't get in over your head & you should be fine, it's still 'real money' when the bill comes. One must learn to use credit responsibly.
 
I plan on being plenty responsable, famous last words right?

The way I was explained (from the bank lady I was talking with) Use your card, then make your minumum payment the first month for them to get their interest. Then pay the whole thing off right away after that for the no interest from there on out.

That one instance of the card company collecting the interest adds to your credit score.

Im working on getting a house. I have very little to no credit in the past. HA, and these dang people dont care that I have enough for a down payment wraped up in guns, gold, silver and motorcycles.
 
don't do it. you don't have to have a credit score to buy a house -you don't want bad credit, though-, you just have to go with a company that will do manual under writing.

www.churchhillmortgage.com is one such.

stay the [beeep] away from credit cards or any other debt, with the sole exception of a mortgage. Make sure that it's a fixed rate, 15 year note that the total payment does not exceed 25% of your take home pay.
 
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I've had one for several years and never had a problem with them. However I don't use it everyday like allot of people. If I have a something I need/want to buy and it cost couple of hundred or so I use it. But I pay it off within a week or two. I have never paid an dime of interest on it and the cabelas bucks you earn are nice if you let them add up for a while before you use them. Credit cards are just like anything else if you're stupid you can get into trouble with it.
 
I've had one for a couple of years with no problems...

Since you don't have an established credit history, just be careful of your debt to credit ratio...If you have to run a balance, try to keep it at a maximum of 20% (credit line of $5000/balance of $1000)...A savings account in the background will bump your credit score a little more...If you keep your debt to credit ration in line and make any payments as scheduled, you will see your credit score climb up pretty quickly..

When Momma Turtle and I first got married, one of the first things I did was to get her to apply for her own credit card since she had never had one and due to that, had a really low credit score...If something happened to me, she would need that in her future transactions...
 
Owning a credit card doesn't have to equal debt! It all depends on how you use it & your discipline. I NEVER pay interest, just pay it off every month.

Yes, one can work around it, but they make many things so much easier, travel, easy paying in a bunch of areas.

If one is worried, start off with a very low credit limit.
 
Lots of good info already posted, a few telling you to stay clear. I have always had excellent credit, I have a credit card it is a great thing to have in your wallet, I have been glad I had it for vet bills and auto repair bills that were unexpected. Let's face it, not everyone is setting comfortable enough to be putting money into savings each month a lot are out there just getting by and one little hiccup cane really screw a pay period.

I say get the card, use it for a small purchase here and there and pay it off, try not to carry a balance on it. When they run a credit check for a house or a car, they want to see items listed that you have had credit and made payments on time. The better your credit the lower your interest rate will be.

Best of luck, be smart and use your head.
 
Originally Posted By: Rock KnockerI have never heard about that.

What would be some good questions for the credit union?

Thanks.

Compare their rates and any conditions that apply. I have a savings account with the same credit union so I can monitor my card online and transfer funds to make payments. Keep your balance low or paid off a much as you can.
 
I use a credit card for virtually all my purchases, one for buisness and one for personal. I pay them off every month. This helps me trac my expenditures and really see where I spend my money. Cards are not a bad thing if used properly. Just dont use them to buy anything you can't afford to pay cash for. They are nice to have in an emergency also.

drscott
 
Im doing supprizingly well in every other way just not credit. I bought a harley when I was 20
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and took a 1.5 year loan and paid it 4 months early. The bank lady said it was too old to even affect my credit
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Roth Ira, 401k, gold and silver even a vestment in a previous employee owned company I was at and working on a new vestment with the current employee owned company I am at.

I dont like the thought of credit but for some [beeep] reason it matters a lot to others.
 
Originally Posted By: drscottI use a credit card for virtually all my purchases, one for buisness and one for personal. I pay them off every month. This helps me trac my expenditures and really see where I spend my money. Cards are not a bad thing if used properly. Just dont use them to buy anything you can't afford to pay cash for. They are nice to have in an emergency also.

drscott
+1
Just be sure to pay it off in full every month.
You really do need to have a credit card in today's world.
You can't even rent a movie from Red Box without a credit card.
Shop around for a no fee card(MC or Visa) that gives at least 1% cash back.

Jack
 
Originally Posted By: Rock KnockerI am planing going with the Cabela's card just because I would get money for Cabela's, Lord knows I spend too much there already.

Are their any worries I should look out for with this card (besides not paying on time then maxing the card out and not be able to pay it, destroying my credit and going broke)?
Cabela's card is the only one I use, absolutely no issues. I pay all my bills, that don't charged a CC fee, with it. The points I accumulate makes it the only game in town for the rewards gained.

Just follow the "don't charge what you can't pay at the end of the month" advice.
 
I plan on using the credit card for anything I would have used my debit card for. Then use the debit card to pay the credit card off. I wont be buying anything I cant pay for, im sure the credit limit would be pretty dang low anyways. Maybe not even enough to pay for my other monthly bills.
 
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Originally Posted By: Stu FarishRecommended reading. Learn how to manage your money now so you’ll build wealth & be able to retire well:

http://www.daveramsey.com/store/books/dave-s-bestsellers/financial-peace-revisited/prod445.html

Dave has them on sale for $10 a copy. Best $10 you’ll ever spend.


Stu beat me to it. do yourself a favor. spend the $10 and READ the book before getting a credit card. it will be the best $10 you ever spent. DEBT IS DUMB AND CASH IS KING!
 


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