Help Credit card stuff?

[banger12]

Ok maybe this belongs in CTB Discussion given what I want to use the credit card for but my questions are not directly related to CTB. And yeah I know this is basic life stuff and that I'm dumb and pathetic for not knowing this already and I could google some of it. But again, given the purpose, there are some nuances that cannot be answered in conventional spaces.

Ok so one of the main I cannot CTB in the near term is that my preferred method is pricey and I've been out if work over health stuff and I'm too broke to afford it. I've only ever had a debit card because I never trusted myself to refrain from spending myself into a ditch with credit but now I think it may benefit me to get one. If i can, I could pull it all off by the end of the month possibly. But what does that process look like?

I think I may be able to qualify for a student credit card still. I'm trying to get back into work soon. But regardless, how can I maximize my credit limit? I'm aiming ideally for a limit of $1k but it'll probably work with $700-$800, although from what I understand perhaps any of that is unrealistic. Also, I'd applying online, am I going to need to provide any documents, will they alert my family (who will be very interested in why I'm applying for a credit card) etc? Perhaps what I'm most scared of, will the debt be passed on to family once I'm gone? I'd rather that not happen. I'm here rn because of my mistakes and I'd rather not burden family anymore.

 

[avoid]

Spend money you have, not money you don't have.

My assumptions are based on my experience with an European bank. Read the Privacy Policy (PP) and Terms of Service (ToS) of the bank or credit loan office where you apply for a credit card, as well as any applicable laws.

How can I maximize my credit limit?

Most banks and credit loan offices have standard packages from which to choose. Check your bank's website or an independent credit loan office comparison-website.

I'd applying online, am I going to need to provide any documents?

I'd recommend applying for a credit card with the bank where you already have a bank account and balance. They likely already have the necessary documentation and information for you to apply to a credit card. If you choose a different bank or credit loan office, they'll probably require your passport, income, home address, contact details, current debt balance, and other related details.

Will they alert my family?

They shouldn't inform your family unless they have a clear legal exception (read PP/ToS/laws). But be aware that the bank may send you mail to your home address. And maybe your family can view certain details if you're on some family plan with your bank account. And in case they do find out that you applied for a credit card, there are all sorts of reasons for why an individual would want to have and use a credit card. My reason for getting one is to buy items online from websites that only accepts credit cards as a form of payment, which frustrated me quite a bit before I obtained a credit card. Though nowadays, most websites also have PayPal and 3rd-party payment systems.

will the debt be passed on to family once I'm gone?

I don't know. For one, I don't know in which country you reside. And two, I have no experience with inheritances. You'll need to take a closer look at the inheritance laws of your country. A simplified version of my country's law:

"You accept the inheritance outright if you dispose of the deceased person's assets or settle any outstanding debts. If you accept an inheritance outright, you are entitled to all the deceased person's assets but you're also liable for all debts, even if they are higher than the assets."​

If you were to reside in my country, your family would inherit any assets and outstanding debts because they are the ones that would dispose of your assets in case of your death. Maybe a will (legal document) can change this, but I don't know for sure.

 

[banger12]

Spend money you have, not money you don't have.

My assumptions are based on my experience with an European bank. Read the Privacy Policy (PP) and Terms of Service (ToS) of the bank or credit loan office where you apply for a credit card, as well as any applicable laws.


Most banks and credit loan offices have standard packages from which to choose. Check your bank's website or an independent credit loan office comparison-website.


I'd recommend applying for a credit card with the bank where you already have a bank account and balance. They likely already have the necessary documentation and information for you to apply to a credit card. If you choose a different bank or credit loan office, they'll probably require your passport, income, home address, contact details, current debt balance, and other related details.


They shouldn't inform your family unless they have a clear legal exception (read PP/ToS/laws). But be aware that the bank may send you mail to your home address. And maybe your family can view certain details if you're on some family plan with your bank account. And in case they do find out that you applied for a credit card, there are all sorts of reasons for why an individual would want to have and use a credit card. My reason for getting one is to buy items online from websites that only accepts credit cards as a form of payment, which frustrated me quite a bit before I obtained a credit card. Though nowadays, most websites also have PayPal and 3rd-party payment systems.


I don't know. For one, I don't know in which country you reside. And two, I have no experience with inheritances. You'll need to take a closer look at the inheritance laws of your country. A simplified version of my country's law:

"You accept the inheritance outright if you dispose of the deceased person's assets or settle any outstanding debts. If you accept an inheritance outright, you are entitled to all the deceased person's assets but you're also liable for all debts, even if they are higher than the assets."​

If you were to reside in my country, your family would inherit any assets and outstanding debts because they are the ones that would dispose of your assets in case of your death. Maybe a will (legal document) can change this, but I don't know for sure.

Hello, thank you for the info. I decent amount of this makes sense and helps and I'm very grateful. I'm in the US if that matters or changes anything. What concerns me about applying with my bank is that I'm giga broke and they'll be able to see that I haven't had consistent income for a while given my lack of employment. I'm trying to arrange and game a situation in which I have the credit to CTB with this month, given that i barely have shit to my name presently. Again, it's a long shot but if there were ever a miracle I needed at this point it's this one. I do worry about family taking on the debt, and if there's a serious risk of that this option is a no go. This year with everything that has happened I'm already a financial liability and burden in general. I wouldn't want to do any more harm than I already have. This is very helpful and I appreciate it.

 

[avoid]

I do worry about family taking on the debt, and if there's a serious risk of that this option is a no go.

I think it's a matter of looking up and understanding the laws on inheritance. But if I had to guess, your family would be taking on your credit card debt.

This year with everything that has happened I'm already a financial liability and burden in general. I wouldn't want to do any more harm than I already have. This is very helpful and I appreciate it.

I'm not familiar with your situation but is there a way to feel less of a financial liability and burden to your family? If I had to guess, your family probably has a different view on the situation—they love you and you're no burden to them. Whatever the situation may be, what I think is important is for you to feel less of a financial liability and burden to them. Have you spoken with your family about your feelings? And whether there's anything you can do for, or with, them as a means to pay them in kind? As said, I don't know your circumstance so perhaps my suggestion doesn't work for you, physically or mentally.

 

[banger12]

I think it's a matter of looking up and understanding the laws on inheritance. But if I had to guess, your family would be taking on your credit card debt.


I'm not familiar with your situation but is there a way to feel less of a financial liability and burden to your family? If I had to guess, your family probably has a different view on the situation—they love you and you're no burden to them. Whatever the situation may be, what I think is important is for you to feel less of a financial liability and burden to them. Have you spoken with your family about your feelings? And whether there's anything you can do for, or with, them as a means to pay them in kind? As said, I don't know your circumstance so perhaps my suggestion doesn't work for you, physically or mentally.

I appreciate your help. I'll have to research this more on my end. I also do appreciate the thought. Unfortunately, the financial burden thing isn't fixable anytime soon and even in the long term I'm still basically just dead weight. Plus, there are plenty of things that are motivating me to CTB. So I'm glad you want to help and suggest alternatives but I'm pretty convinced this is the necessary action. As for my story, ive been on and off wanting to CTB for 7 or so years, but after a head injury late last year and another in May of this year everything had changed. I'm certain it needs to happen.