Credit Cards in Law School

Discuss various money matters here. Loans (federal and private), scholarships, lottery winnings, or other school finance related information and queries.
User avatar
ugobabe86
Posts: 57
Joined: Sun Jun 21, 2009 5:31 pm

Credit Cards in Law School

Postby ugobabe86 » Sun Apr 24, 2011 11:05 pm

I've been thinking about this for sometime, and I would like to know if anyone thinks that having a credit card (mainly getting a new one) is worth it? I mean you're already taking out loans from both private and federal. Is having more debt worth it?

User avatar
Hannibal
Posts: 2213
Joined: Mon Jul 12, 2010 12:00 pm

Re: Credit Cards in Law School

Postby Hannibal » Sun Apr 24, 2011 11:09 pm

I have a credit card and have paid off my balance in full every month. This will save you money in the long run.

User avatar
Moral_Midgetry
Posts: 543
Joined: Tue May 11, 2010 3:29 pm

Re: Credit Cards in Law School

Postby Moral_Midgetry » Sun Apr 24, 2011 11:11 pm

I got 3 new cards while I was still working just before law school started so I had enough income to justify higher credit limits (10k each). I'm 25k in the hole on them and 200k at Cooley but my shoe collection is sooooooooooooooooooooo worth it. No worries, when I graduate I'll start at 160k in NYC and be able to pay it back in a few months.

BlueDiamond
Posts: 953
Joined: Wed Sep 29, 2010 12:56 pm

Re: Credit Cards in Law School

Postby BlueDiamond » Sun Apr 24, 2011 11:12 pm

use common sense.. everyones situation is different.. figure our if a credit card is your best option and if it is get one

bhan87
Posts: 850
Joined: Mon Mar 12, 2007 8:08 pm

Re: Credit Cards in Law School

Postby bhan87 » Sun Apr 24, 2011 11:13 pm

Using a credit card as a debit card is TCR imo

Mainly use mine for rewards programs and building my credit score. Outside these two reasons, there are few reasons you really need a credit card

User avatar
Stanford4Me
Posts: 6045
Joined: Thu Jan 10, 2008 1:23 am

Re: Credit Cards in Law School

Postby Stanford4Me » Sun Apr 24, 2011 11:15 pm

If you get another credit card please don't justify it by saying "I'm already $XX in debt from law school, might as well get a credit card."

User avatar
lisjjen
Posts: 1242
Joined: Wed Jun 30, 2010 12:19 am

Re: Credit Cards in Law School

Postby lisjjen » Mon Apr 25, 2011 12:18 am

Stanford4Me wrote:If you get another credit card please don't justify it by saying "I'm already $XX in debt from law school, might as well get a credit card."


But... and correct me if I'm wrong, this is a good reason to buy an ipad, right?

sarahlawg
Posts: 1001
Joined: Fri Jun 25, 2010 5:59 pm

Re: Credit Cards in Law School

Postby sarahlawg » Tue Apr 26, 2011 2:01 am

Hannibal wrote:I have a credit card and have paid off my balance in full every month. This will save you money in the long run.


this. It will also earn you money (rewards). You have to pay it in full every month, though.

User avatar
Stanford4Me
Posts: 6045
Joined: Thu Jan 10, 2008 1:23 am

Re: Credit Cards in Law School

Postby Stanford4Me » Tue Apr 26, 2011 2:03 am

lisjjen wrote:
Stanford4Me wrote:If you get another credit card please don't justify it by saying "I'm already $XX in debt from law school, might as well get a credit card."


But... and correct me if I'm wrong, this is a good reason to buy an ipad, right?

ipad2, duh!




Return to “Financial Aid”

Who is online

Users browsing this forum: Google Adsense [Bot], KillaKam92 and 1 guest