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Not worth it. Especially if they dont report. IMO
24 Looking to build Credit... What are some good tips on your first Credit Card
- Thread in 'General' Thread starter Started by trynafeelmink,
- Start date
Not worth it. Especially if they dont report. IMO
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I dont really care since I'm on the excellent scale already. I have enough accounts reporting to even it out.
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Score was 718 in March 2014
Now 775 as of Nov 2014
Now 775 as of Nov 2014
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....
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congrats
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Thoughts??
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willie mcfly22
I think its best to leave SOME money on the card at the end of the billing cycle and then pay it off before the due date. You still want to be well below your max.
i.e. $3000 max. Purchase and pay off bills, but at close of billing cycle you have $100 still on there. Then you just pay that off before the due date.
Someone correct me if I'm giving wrong information, credit companies seeing $0 balances on your account tells them you're not using it (even though you are). I don't think it will hurt your score they current way you do it; it just wont help. Again I could be wrong.
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Alright thanks. I'm still looking into it too. Always conflicting answers on the web lol...
I think its best to leave SOME money on the card at the end of the billing cycle and then pay it off before the due date. You still want to be well below your max.
i.e. $3000 max. Purchase and pay off bills, but at close of billing cycle you have $100 still on there. Then you just pay that off before the due date.
Someone correct me if I'm giving wrong information, credit companies seeing $0 balances on your account tells them you're not using it (even though you are). I don't think it will hurt your score they current way you do it; it just wont help. Again I could be wrong.
mrrolex
Banned
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credit karma says im on 795
i have about 3 cards.
i have about 3 cards.
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if we are just talking about building credit, a secured loan from your bank helps as well.
$0.02
i always have secured loans going on a 2 different banks at all times. basically you are just bank the bank to report to your credit bureau.
$0.02
i always have secured loans going on a 2 different banks at all times. basically you are just bank the bank to report to your credit bureau.
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I've heard about takin out secured cash loans and jus putting the money in your savings account and paying it off in a few months...how's the interest tho?
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i think the interest totally depends on your current credit status as of now. but even with the worst credit, i couldnt see it being higher than 10% and thats with SUPER BAD credit.
but i have had my credit improve 100 point in a year just by doing the secured loan thing...from mid 6s to mid 7s
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That's a nice bump. Definitely bout to look into that...
mrrolex
Banned
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why not just buy kicks at retail and sell at retail?
BOOM??!?!?!
BOOM??!?!?!
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my mom has HORRIBLE credit, low 500 possiby 400s 
she keeps getting cap one pre approves in the mall and i filled it out for her. ended up getting approved for 2k limit.
doubt she will use it much but should help he credit possibly.
she keeps getting cap one pre approves in the mall and i filled it out for her. ended up getting approved for 2k limit.
doubt she will use it much but should help he credit possibly.
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Naw paypal doesn't report. I've read it on multiple credit forums. I applied and didn't get hit with an inquiry either...
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A question for you guys.
So my credit utilization is kinda messed up after Black Friday. I got paid and have a good bit of cash in my acct. I CAN pay $1000 on my card, to get my utilization almost fixed, BUT I don't wanna see that $1000 leave my acct
What should I do? (It's not like I was gonna spend that $1000 anyways, but I'm trynna save a certain amount of bread by a certain date, and dropping $1000 on my card would push me back)
What's more important? My credit? Or my cash I have saved? My score dropped from 730 to 715 gradually over the past couple months due to my utilization
So my credit utilization is kinda messed up after Black Friday. I got paid and have a good bit of cash in my acct. I CAN pay $1000 on my card, to get my utilization almost fixed, BUT I don't wanna see that $1000 leave my acct
What should I do? (It's not like I was gonna spend that $1000 anyways, but I'm trynna save a certain amount of bread by a certain date, and dropping $1000 on my card would push me back)
What's more important? My credit? Or my cash I have saved? My score dropped from 730 to 715 gradually over the past couple months due to my utilization
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A question for you guys.
So my credit utilization is kinda messed up after Black Friday. I got paid and have a good bit of cash in my acct. I CAN pay $1000 on my card, to get my utilization almost fixed, BUT I don't wanna see that $1000 leave my acct
What should I do? (It's not like I was gonna spend that $1000 anyways, but I'm trynna save a certain amount of bread by a certain date, and dropping $1000 on my card would push me back)
What's more important? My credit? Or my cash I have saved? My score dropped from 730 to 715 gradually over the past couple months due to my utilization
If you dont need to use your credit anytime soon then hold on to the cash.
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You talking paypal smart connect or something else?
Edit - Keep the cash if you don't plan on doing anything that'll involve getting your credit pulled.
If you have interest on the card maybe pay a nice sum to bring it down.
Having liquid cash is not a bad thing IMO.
Edit - Keep the cash if you don't plan on doing anything that'll involve getting your credit pulled.
If you have interest on the card maybe pay a nice sum to bring it down.
Having liquid cash is not a bad thing IMO.
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Repped. Leaning towards this idea. I don't plan on getting my credit pulled any time soon. And my interest is at 0 right now until march
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PayPal credit which use to be called bill me later doesn't report to credit bureaus
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That's why I'm keeping it. It doesn't have any effect on my card utilization.
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My mom's credit is either in the 500s or 600s, but she can care less.my mom has HORRIBLE credit, low 500 possiby 400s
she keeps getting cap one pre approves in the mall and i filled it out for her. ended up getting approved for 2k limit.
doubt she will use it much but should help he credit possibly.
She has no need to use credit for anything at this point: No plans of buying a house and she has the cash for a new car she's buying. She's waiting out on the banks to settle on whatever debt she owes and she'll pay that out.
Speaking of, I just got a letter addressed to whoever used to live in my apartment about a bank loan. Dude took out ~ $44k and the bank is settling for $22k.
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What are some of you guy's who are building credit and spending regiment ?
I know I can't stay using straight cash forever!
I know I can't stay using straight cash forever!
