How to convince my friend to start using CCs?

[Anonymous]

I agree with previous posters about your friend not needing a cc at this point. If he's already sending money he's earned, what would stop him from using the "free" money on a cc for similar purchases?

When, and if, your friend gets to the point he's responsible enough for a card; do like I did.

Several of us were sitting around the table and I received a notification on my phone for a new statement on a Cap1 card. This got the regular "cash is King, credit cards are the devil" banter that most hear at least once in our lives. I explained how simple it is to use and pay cards these days. I demonstrated by logging into Cap1 and showed them the rewards I had accumulated at 1.5%. Clicked the rewards section, applied to balance, swiped right, clicked ok, looked at my friends and stated that I had just lowered my balance by $30(ish) bucks by using free money given back to me. The ease at which I did this peaked their attention. Demonstrating more, I stated I could log back in and pay the remaining balance, log out, get up and pour a cup of coffee, and sit back down in one minute flat.

To finish the story, we ended up spending around three more hours talking cards, holding their hands through prequals, figuring out each persons spend patterns, and that table ended up with something like 10 successful apps (only one denial). A few Discos, 3 I think Amex, a Cap1, and 2/3 for Freedom.

Easy sell these days with rewards, sub's, and easy to use apps. Just put on a smile and physically show people.

[Anonymous]

siberia91 after reading much information on this thread and having lived a long time ... remember you can only change yourself. Trying to put tiger stripes on a zebra isn't going to happen! Applaud you for caring about someone but don't set yourself up for failure. The writings in this thread say much of the same. Take care of yourself!

[Hotcoals91]

You don't. He is clearly not ready for a credit card...it is a bigger responsibility than us pay in full types tend to realize.

[CreditInspired]

History has shown that friendships have been ruined over money. Nothing, and I mean absolutely NOTHING, would let me put this person as an AU on any of my CCs. Don’t do it! The writing is on the wall. As others have said, your friend has a lot of maturing to do before trying to secure a CC. And I doubt if he would even get a secured card since he has an outstanding balance with a bank. As a previous poster said, convince him how to pay his debt. You are a good friend. And to remain friends, don’t convince friends to borrow if they can’t pay the monies they already owe.

[HeavenOhio]

Your friend should be pulling his reports so he can see what needs to be cleaned up. Then he should start at that task. Chances are that he owes more people than just Chase. If he doesn't, he's lucky.

I'm with the others. No cards right now. Credit cards don't fix debt, but they sure can add to it.

[AverageJoesCredit]

Only real way to convince said friend is when he hits rock bottom, which seems very near or quite possible , they will find out they actually need credit for certain things. When they are ready, point them in right direction such as credit counseling or checking out this forum. Be careful of allowing any kind of access to your credit ir money if thats an option, often times, desperate people do desparate things. Glad to see you are trying to help said friend thiugh

[Anonymous]

Some people don't want/can't handle credit cards. It's just not practical or constructive to try to change them. Some people who use credit cards don't even care about rewards; that's why there are so many basic, non-reward cards (Chase Slate, et al). Chasing credit card rewards for many on this board is essentially a hobby. Not everyone is into building model airplanes.

People in distressed financial situations will benefit most from simplicity and discipline. Credit cards, generally, do not aid either.

[steelers1]

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wrote:

It's really nice to see you concerned with your friend's well-being! Given that description, I'd be a little uncertain about his possibilities of getting a credit card because it would seem that he's a risky individual. He'd have to start with a secured credit card, which requires you to pay a deposit equal to your credit limit such that if you don't pay on time, they'll take it from there. If you have a credit card that gives cash back for gas, you might consider adding him as an authorized user and explaining that he'll owe you money when he uses it, but maybe he and his dad will be more comfortable since it's a close friend and not a bank involved. Just a thought though, good luck to him!

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Not in a million years would I do this. Obviously your friend has to learn to be financially responsible first and he needs to do that on his own.

[Anonymous]

I agree with all of you guys. Never thought of adding him as AU. I hope he will grow up and be more mature in 3-5 years.

[Anonymous]

Like others said, I don't think he is ready to manage credit. Once he pays Chase back and stops sending money to girlfriends overseas (why would anyone do this?), he can consider getting a credit card. You are a good friend for caring.