Fashion bug

Fashion bug Gift Cards
So I just got a credit card for Fashion Bug and my mom says I am stupid. Am I?

I have been wanting to get my credit built up and when I went to fashion bug to get a shirt they asked if I had a credit card for them. They said that there are no annual fees or anything like that on it. All I have to do is pay for what I buy when the bill comes in. I am sure there might be an interest rate added to this as well. But my mom would never help me out before with finding ways to boost my credit from no credit to good credit. Do you think I am stupid since I got this credit card. I know I will always pay for what I get. I just wanted good credit and I honestly didn't even think I would have been approved for this either.
I think I am in the right area for my question not sure

You don't have to have a credit card to build your credit. That is a myth. http://articles.moneycentral.msn.com/Banking/CreditCardSmarts/BuildCreditWithoutACreditCard.aspx

The problem with store credit cards - is the interest rate. While a Mastercard or Visa may have an interest rate of 12%, a store card will usually have an interest rate as high as 27%.

IF you want a credit card - cancel the Fashon Bug card. Then apply for a Visa or Mastercard. It should have a much lower interest rate and is accepted just about everywhere. Go to the bank where you have your checking account.

You also have to be smart about credit and credit cards. Getting the card is easy - the hard part is not getting too crazy with the spending.

"I am sure there might be an interest rate added to this as well". YOU BET THERE IS. That's how the credit card company makes money. In essence - they loan you money and you pay it back a little at a time plus interest. The interest is their proffit. When you apply for a credit card - ignore points, ignore coupons, ignore whatever tee shirt or other garbage they are giving away. The things you want to be concerened about are the interest rate and any fees.

Personally, I always had a rule - keep just 1 credit card. That way, if you ever ran it up - the damage can only be so bad. All the people I know that had huge credit card debts - had it on multiple cards. So - get one card that can be used anywhere.

Read the terms of the credit card very closely. If you make 1 payment late - they can jack your interest rate up. Way up. As high as 30%. So, if you get a credit card - you better make every payment on time - every month.

What is "on time"? That does not mean your check gets mailed before the due date. On time means that your check arrives to the credit card company and is processed before the due date.

Remember - its much easier to spend credit than it is cash. So you spend more. You can rack up a whole lot of debt and not have squat to show for it.

Also- many employers are checking credit as a term of employment. Many young people ruin their credit scores while in college and then have a hard time getting a job because of their poor credit. You don't want this to happen to you.

Before you charge 1 thing on that credit card - I suggest you educate yourself about credit and credit cards. It will save you a lot headache in the future.

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