I just turned 18 and am working. I need a set of tires for my truck...and preferably a set of wheels too.

I am thinking about getting them at Les Schwab...good or bad idea? Would they let me do that?

Thanks

 

What do you mean? On credit card or on actual credit (walk in and say "i'll pay you back someday")? Yes for the former, no for the latter, unless you dad buys tires for fleet or something. You have to be a regular customer to get credit like that, even then its very rare (like only at Ma and Pa grocery stores you've been going to as long as you can remember).

 

they might open you up a charge account, depending on your credit score.
it helps if you have some money down also! and if you wanting to build your credit, a credit card is a good way! make sure that the Schwab's your going to reports to the credit bureau regularly.

 

Well, it is an option to build your credit rating. If they offer a sponsored credit card (visa, mastercard, discover, etc.) even better.
3 things to consider:
1) if you make the minimum payment, you will pay a lot more for the tires/etc. than if you pay more than the minimum due to interest charges, etc.
2) paying it off too quickly also doesn't look good on the credit report, in the long run.
3) If they give you a 'no interest charge if paid in full by (insert date here)', that works in your favor since you'll save the interest charges... but only helps your credit if you make regular, above normal payments and have it paid off just before the date indicated. So basically you want to make payments, but not pay it off too soon, but not too late either. Catchin' my drift?

I used to work for a 'toybox' trailer dealer and our lending companies often denied people who had credit accounts, but no outstanding balance. They look for history, as in it appears that you can meet your commitment but didn't get into a spot and paid it off just so you wouldn't have that bill.

 

dont forget about "debt to income ratio" lol

 

debt:income, expense:income
also something to consider. thanks TOYOTA 1 for bringing that up.

 

Wait a second, are you saying that me paying off my credit card bills as soon as I get them for the past year and a half is a bad thing? Pretty much the only thing I haven't paid off right away is my computor, witch I plan to pay off next bill and was only spread over 3 months...

 

np, my GF is a banker and she hammers me all the time about my credit and my money lol.

 

jason the key is "revolving accounts" that are paid on time

 

Yup. When I met my wife she was in debt with credit cards up to her eyeballs and had great credit. Since I had been paying cash for everything (including vehicles) my entire life I couldn't qualify for a credit card with a limit above 500$.

Of course that was 6 years ago and things have changed for me...... now I have GREAT credit....... and no money.

 

hmmm, good to know... maybe i'll get those gears and lockers before I have all the money saved up then...

 

I can only refer to my experience with the lenders (greentree and others).
In their 'opinion' paying off too quickly, even before the bill is due, means you are not fulfilling your agreements. Not that they don't appreciate loans / credit paid off early, but they want to see some payment history where payments are made regularly, not just the minimum payment, and the loan / credit is paid off 'too quickly'.
Realistically, the only way they make substantial money off of you is if your payments, at least part of them, is towards the interest on the charge, and that is the basis for wanting to see you make regular payments over an extended period of time.
Make sense?

 

Makes sence, but seems foolish. In a way your just buying credit then. Realistically someone who pays off bills right away should have better credit than someone in debt...

 

That's good advice. I'd wondered about that in the past, I've always paid stuff off right away whenever the bill shows up as opposed to when the bill is due.

 

Les Schwab does have credit right? My parents have a charge account (same thing?) that they pay a monthly amount on.

Just thought I would build some credit. I tried to apply for a Wal-mart credit card and that was a no go. LOL

 

I'd be willing to get a credit card and purchase them online if that would help?

 

Thanks, I've learned about this stuff already. But it helps to hear about it again. Thanks abe

 

and if it gets too bad... and you are in danger of losing a lot of money...
maybe Obama and the Democrats (sounds like a rock band no?... kinda like Spinal Tap?...) will give you a bail-out?
('cause they're in favor of supporting the 'little man' and not corporate greed, right?)



/me ducks and hides.

 

lol.. now now abe, lets not open that can of worms

 

/me blushes...
guess if I say much more, this will be tossed into off topic / drama llama / GTFO.