Members WillShrdForFood Posted September 21, 2006 Members Share Posted September 21, 2006 I'm only 18, I have no credit. Dont have bad credit, just dont have any at all. Do you have to have like amazingly badass super duper richguy credit to get one of these things? Link to comment Share on other sites More sharing options...
Members oryan Posted September 21, 2006 Members Share Posted September 21, 2006 Originally posted by WillShrdForFood I'm only 18, I have no credit. Dont have bad credit, just dont have any at all. Do you have to have like amaingly badass super duper richguy credit to get one of these things? No credit is worse than bad credit. I have a bankruptcy under my belt and I can get a credit card any day of the week. The best way to establish credit is to get a secured credit card (requires a security deposit) and build from there. Link to comment Share on other sites More sharing options...
Members zac503 Posted September 21, 2006 Members Share Posted September 21, 2006 I'm 19 and I got one via the online application. This is my first foray into any sort of credit. They gave me a $2000 limit too. I dunno if it had to do with my dad having a card in good standing, or the account I was signed in under had a good history of big purchases. But, I got's it Link to comment Share on other sites More sharing options...
Members WillShrdForFood Posted September 21, 2006 Author Members Share Posted September 21, 2006 Hmm, how long did it to get confirmed? Like from when you sent in the online app to them giving you the card. Link to comment Share on other sites More sharing options...
Members zac503 Posted September 21, 2006 Members Share Posted September 21, 2006 I was accepted within completion of the application. Then it was like 2 weeks for the card to come. But, I think if you keep track of your account number you can use it on the MF website right away. Link to comment Share on other sites More sharing options...
Members tequila_titan Posted September 21, 2006 Members Share Posted September 21, 2006 Don't get one if you're only going to make minimum payments. Just wait and save your money for what you want. Link to comment Share on other sites More sharing options...
Members WillShrdForFood Posted September 21, 2006 Author Members Share Posted September 21, 2006 Originally posted by tequila_titan Don't get one if you're only going to make minimum payments. Just wait and save your money for what you want. I'm not going to make minimum payments. I could probably handle about 100-200 a month Link to comment Share on other sites More sharing options...
Members mister kyo Posted September 21, 2006 Members Share Posted September 21, 2006 i'll bet getting the card will lead to disaster faster than anything else. Link to comment Share on other sites More sharing options...
Members LedZep77 Posted September 21, 2006 Members Share Posted September 21, 2006 I'm 21, should I have started building my credit yet? Link to comment Share on other sites More sharing options...
Members Megadeth7684 Posted September 21, 2006 Members Share Posted September 21, 2006 You can probably get one no problem, but your limit won't be very high. Link to comment Share on other sites More sharing options...
Members zac503 Posted September 21, 2006 Members Share Posted September 21, 2006 get one, It can't hurt. If you take the attitude that I have which is soley to let me have my product a month or two earlier then go ahead. Pay it off during the same as cash period and your fine. It's just like any adult situation, if you can't handle the responsibility, then don't get one. But if you can, it can be a great asset and give you a good credit record. Link to comment Share on other sites More sharing options...
Members Digital Jams Posted September 21, 2006 Members Share Posted September 21, 2006 Going against the grain here... Do not charge your hobby. Learn fiscal responsiblity now while you are young, one person has already posted that went broke, do not follow that path. Link to comment Share on other sites More sharing options...
Members exafro Posted September 21, 2006 Members Share Posted September 21, 2006 I'm with Digital. Don't get one, you are only 18 and you frequent this site. That is a recipie for disaster. Put that 100 bucks a month is a separate savings account and use that as guitar money. If you do that, you won't go through as many guitars as some of the hoarders on here. Link to comment Share on other sites More sharing options...
Members WillShrdForFood Posted September 21, 2006 Author Members Share Posted September 21, 2006 Originally posted by Digital Jams Going against the grain here...Do not charge your hobby. Learn fiscal responsiblity now while you are young, one person has already posted that went broke, do not follow that path. Well, in a way I think it could help my responsibility. I wasnt going to freak out with it, just buy a decent tube head like a 6505 or something and a cab. Roughly 1500-1600 bucks depending on the cab. And if I pay 200 or more a month on it, I think I could handle it fairly well, and it would help my credit. Link to comment Share on other sites More sharing options...
Members Digital Jams Posted September 21, 2006 Members Share Posted September 21, 2006 Originally posted by WillShrdForFood Well, in a way I think it could help my responsibility. I wasnt going to freak out with it, just buy a decent tube head like a 6505 or something and a cab. Roughly 1500-1600 bucks depending on the cab. And if I pay 200 or more a month on it, I think I could handle it fairly well, and it would help my credit. But then that one show pulls into town, or a killer deal on a guitar shows up, and yeah you guessed it you will say screw it and pay the minimum monthly payment for that month. Then..................wow that was easy and look at this killer Ipod...............BAM another minimum payment. $1500 amp is now turning into a $2000 amp and yeah your loses mount on the resale value. Do not fall for this crap of watching guys here selling {censored} every week, they are the same ones that have to sell a stupid guitar because something important like a furnance just blew up and they have no sticking money. Do not fall for this LOOK AT ME crap, you are young...get out of the house and have fun. Link to comment Share on other sites More sharing options...
Members DannyM Posted September 21, 2006 Members Share Posted September 21, 2006 Originally posted by WillShrdForFood Well, in a way I think it could help my responsibility. I wasnt going to freak out with it, just buy a decent tube head like a 6505 or something and a cab. Roughly 1500-1600 bucks depending on the cab. And if I pay 200 or more a month on it, I think I could handle it fairly well, and it would help my credit. If you pay it off during the 12 month no interest period it would be ok. Their interest rate is over 20%. Link to comment Share on other sites More sharing options...
Members Digital Jams Posted September 21, 2006 Members Share Posted September 21, 2006 Originally posted by DannyM If you pay it off during the 12 month no interest period it would be ok. Their interest rate is over 20%. Yup Ass raping waiting to happen. Link to comment Share on other sites More sharing options...
Members WillShrdForFood Posted September 21, 2006 Author Members Share Posted September 21, 2006 Originally posted by DannyM If you pay it off during the 12 month no interest period it would be ok. Their interest rate is over 20%. 22.4 Link to comment Share on other sites More sharing options...
Members zac503 Posted September 21, 2006 Members Share Posted September 21, 2006 Dont use it to make big purchases. I think yoo should go for it but I would limit my self to about $500-$600 max. Thats about the max limit I set for myself. I would find a minimum payment that you are very confortable with (something higher than the MF minimum) and only spend what you think you could pay off making your own personal minimum payment in 6 months. Ie, if you can pay $100 very comfortably, then I would reccomend about a $600 charge, if you can do $200 but you're gonna be strapped for cash, it isnt worth it. But, if you can pay $200 very comfortably then maybe you can swing about $1200. This way, even if you're low a month, you have a 6 month padding on your payments. Link to comment Share on other sites More sharing options...
Members Elric Posted September 21, 2006 Members Share Posted September 21, 2006 Originally posted by Digital Jams But then that one show pulls into town, or a killer deal on a guitar shows up, and yeah you guessed it you will say screw it and pay the minimum monthly payment for that month.Then..................wow that was easy and look at this killer Ipod...............BAM another minimum payment.$1500 amp is now turning into a $2000 amp and yeah your loses mount on the resale value.Do not fall for this crap of watching guys here selling {censored} every week, they are the same ones that have to sell a stupid guitar because something important like a furnance just blew up and they have no sticking money.Do not fall for this LOOK AT ME crap, you are young...get out of the house and have fun. +1. Link to comment Share on other sites More sharing options...
Members SteveP Posted September 21, 2006 Members Share Posted September 21, 2006 It all depends on your self discipline. I got a MF card about 2 years ago when they were blowing out 5150s for $750.00. They approved me and I got the amp using the 0 intrest for 12months. I payed it off in 7 months. I haven't used the card since. Been sitting in the lock box. Link to comment Share on other sites More sharing options...
Members WillShrdForFood Posted September 21, 2006 Author Members Share Posted September 21, 2006 Okay, humor me....What would you do in my situation... You're a kid fresh out of highschool, whos in a band thats starting to take off really fast. We just announced our complete live lineup about a month ago and we already have fours shows lined up playing for some pretty big bands. You have no amp sufficient enough to play live. You current {censored}ty job gets you about 150-200 every two weeks. You need a good amp for shows asap, but strictly saving your money would take too long to get an amp in time for these shows. You're so tired of your current setup, the tone makes you sick because you've heard it for just too damn long. What do you do? Link to comment Share on other sites More sharing options...
Members WillShrdForFood Posted September 21, 2006 Author Members Share Posted September 21, 2006 Originally posted by SteveP It all depends on your self discipline. I got a MF card about 2 years ago when they were blowing out 5150s for $750.00. They approved me and I got the amp using the 0 intrest for 12months. I payed it off in 7 months.I haven't used the card since. Been sitting in the lock box. Thats exactly what I'm wanting to do. Just get the necesseties and then just put it away. I could handle 150-200 bucks a month for the payments no problem. Even more if I got more hours at work. Link to comment Share on other sites More sharing options...
Members Digital Jams Posted September 21, 2006 Members Share Posted September 21, 2006 If you are only making that kind of coin you are not going to pay $200 a month......sorry. What would I do? Used gear and get something that will work, the crowd is not full of so called "tone freaks". Link to comment Share on other sites More sharing options...
Members SteveP Posted September 21, 2006 Members Share Posted September 21, 2006 Originally posted by Digital Jams If you are only making that kind of coin you are not going to pay $200 a month......sorry.What would I do? Used gear and get something that will work, the crowd is not full of so called "tone freaks". +1 If you're only pulling in 3-400 a month in total income a month then spending 50% of that on a CC bill is not a good idea bro. Can you sell any of your stuff? Do some side work? Beg your folks? BTW I couldn't afford a decent tube head until I was 22. Link to comment Share on other sites More sharing options...
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