About to purchase a truck. Emergency credit card question.

I wouldn't keep your emergency fund in credit regardless of what route you go. If all you can get is a secured card then you might want to do that for now at a low limit just to further build your credit rather than pay all the fees on a Cap One card.

Get the low limit secured card, build your credit, build your savings to an appropriate level to have an emergency fund. Playing the game with credit will just put you behind the 8 ball from the start.

 

check this out dont buy the truck wait till spring save more money freight will pick up and you wont be stuck in bad storms use this time to get more money. then once you have that extra capital you will have the means to do what you need this time of year money seems to fall out of our pockets take time and wait till April and you will be pleased.

 

That's all fine and well if you've got the cash to pay it off right away. But why pay interest on fixing your truck (with the credit card) on top of the cost and down time?

 

You need to listen to these guys b/c they know exactly what they are talking about when it comes to being a SUCCESSFUL O/O.

You DON'T have enough money to start with to become a successful o/o if you need cc to help with your maintenance start-up funds. The odds are against you already. What happens when/if you blow the turbo, repair it with the card, and then the clutch goes? Then radiator, and two tires. They are trying to save you from financial disaster and potential business failure before it's too late. LISTEN!!!!!
Don't become a statistic like so many before us.

I'm in the same boat as you trying to become a new successful o/o as well. The difference between us is I have waited two years, saved almost $40k cash, my wife and I will become a team, (she has her cdl) renting out the house, no children, and thats still not enough yet to be successful in this profession. You have to have MONEY, MORE MONEY, and a little bit more $$$$$, and then a nice cc in case emergencies.

Can you make it without this large in amount of start up cash? Maybe, but the deck is stacked up agaist you. Pump your brakes PLEASE, just wait a while longer and save more money so you don't become a failure. Listen to the guy that told you to wait til spring time. That is the best advise in the world. All freight tends to peak right around April or May. January is the absolute WORST time an o/o can get started regardless of what division your in. You should already know these things. Most o/o vacation in Jan. And Feb b/c it's the slow season. So again, it further more proves you are not ready!

I'm not trying to be an A-whole. Hell! I'm not even an o/o myself yet. But if you are offended by my comment, if that's what it takes to save a potential o/o from disaster, then so be it!! But I know what it takes to make it.

I hope this message gets through to you.
Good luck, be safe, and God Bless You.

 

I've been with Navy Federal Credit Union for over 15 years and when I pick up the phone I can have a loan or change up credit cards for lower interest rates and it has been that way pretty much from the start. I hear USAA this and that and I am not impressed. But to the point about credit. Do you have another bank account? I would recommend that if you don't get a Wells Fargo type account. BofA might be one you should stay clear of since they loaned so much money to the EU and they are in trouble and the EU could just stop payment and well gets bad from there.

Get a credit card and yeah it might be of higher interest just because of society and its inability to payback what it said it would on c/c debt. Try and be smart, such as do I really have to have it now? Seem our society is a now generation like me....I am learning to wait and to save. I believe you have more options avialable than you know but I will seriously caution in one thing: BUYER BE WARE and this refers to most everything. If it sounds too good to be then it just might be.

I am not a crapper house lawyer, but I am aware times are tough and we the consumer have to be smart and that might mean you can't have it now or it ain't the time to do what you thought. I wish you best of success in your future ventures.

 

10-4, Captain...