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P4l
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
Gill Baka Esq. LLC.
formerly grimlock
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A serious question:
If I have a credit card from my bank which directly takes money out of my bank account when I purchase things, am I builduing credit that way?
It's both my debit and credit card.....
If I have a credit card from my bank which directly takes money out of my bank account when I purchase things, am I builduing credit that way?
It's both my debit and credit card.....
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That's just a debit card
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Best tip is to not screw it up. I screwed mine up and am struggling to get it back on par. Finally got a gig where I can afford to get a secured cc through my credit union. Bad spending and lack of finances will hurt your credit and your score.
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If yall want a good cashback card from Discover then PM me, we both get $50 if you get approved. Easy card to apply for, i had very little credit and they gave me a $1,500 limit to start.
10% cashback on NDC, FTL, FNL, and everything else helps and adds up
10% cashback on NDC, FTL, FNL, and everything else helps and adds up
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I'm 22 and I've only had my 1st CC for 1 month now. It's an Amex green. I don't have a choice it has to be paid in full. Right now I'm just focusing on looking good for American Express so that I can easily upgrade to a gold card with better rewards. I would say pay the credit cards in full and use auto/home financing and other stuff for the building aspect of credit. but i'm new at this so I'd love to hear tips as well. I'm kinda opposed to credit cards which is why I denied all my offers until Amex since its a charge card.
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thats a charge card
which unless you got all the cash in hand, its a good card but for a lot of people on this site who arent gonna be paying in full, a regular CC is what they need.
Amex been sending me multiple letters in the mail for the green amex, i will eventually get it one day i just hate paying yearly for cards right now.
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I uhh... said that's what it was in the post. It's still considered a line of credit to the FICO folks though. And people are having the whole pay in full debate so i was just throwing my $0.02thats a charge card
which unless you got all the cash in hand, its a good card but for a lot of people on this site who arent gonna be paying in full, a regular CC is what they need.
Amex been sending me multiple letters in the mail for the green amex, i will eventually get it one day i just hate paying yearly for cards right now.
I'm just using it as a debit card that shows up as credit history which i think is the smart way to do it. Of course they want you to keep a balance and pay interest on stuff.. so they can make money off you. If looking good means looking like a sucker I'm not with that. As far as the annual fee goes i see it sorta paying for itself through benefits for the way im going to use it, but when i upgrade to gold. i'll definitely get my money's worth. And my first year fee was waived so thats all good
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Start off with a secured credit card then after 6 months usually your credit should be good enough for a unsecured
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Because of the points/rewards. In close to 10 years of having CC's, I've only paid interest a couple times during that span and it was a couple dollars. I've gotten 2 free flights to Mexico, cash back and other stuff, basically for free.
Also, I prefer using a CC over a debit card for security. Steal my info, ehhh no big deal. Steal by debit card info, my every day money is gone until the bank does your claim.
And, renting a car/hotel, CC is the best way to go. I've seen people go to Vegas with a debit card and the hotel puts a temporary hold on some of your funds. They had no money since it was on hold
fontaine
Banned
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Got NY score the other day...
770...
Don't mean much though... I can't use it to get yambs
770...
Don't mean much though... I can't use it to get yambs
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One of the most common myth out there regarding credit score and CC.
"Myth No. 4: "You need to carry a credit card balance to have good scores."
Fact: You don't need to be in debt or pay a penny of interest to have good credit scores.
Your credit reports and scores don't "know" whether you're carrying a balance or paying it off in full every month. That's because the balance reported to the credit bureaus typically is the balance from your last statement, not what was left over after you got that statement and paid the bill. So you might as well pay in full and save yourself the interest.
This myth encourages people to carry unnecessary debt, putting them at the mercy of credit card issuers and eroding their financial security."
http://money.msn.com/credit-rating/7-nasty-credit-myths-that-will-not-die-weston.aspx
http://finance.yahoo.com/news/7-credit-score-myths-debunked-000000873.html
http://articles.chicagotribune.com/...13_1_credit-card-cardratings-com-credit-score
http://money.usnews.com/money/blogs/my-money/2010/08/24/six-popular-credit-score-myths
Those are just a few articles debunking this misconception.
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I uhh... said that's what it was in the post. It's still considered a line of credit to the FICO folks though. And people are having the whole pay in full debate so i was just throwing my $0.02thats a charge card
which unless you got all the cash in hand, its a good card but for a lot of people on this site who arent gonna be paying in full, a regular CC is what they need.
Amex been sending me multiple letters in the mail for the green amex, i will eventually get it one day i just hate paying yearly for cards right now.
I'm just using it as a debit card that shows up as credit history which i think is the smart way to do it. Of course they want you to keep a balance and pay interest on stuff.. so they can make money off you. If looking good means looking like a sucker I'm not with that. As far as the annual fee goes i see it sorta paying for itself through benefits for the way im going to use it, but when i upgrade to gold. i'll definitely get my money's worth. And my first year fee was waived so thats all good
yea i have a regular CC but i still pay off full balance, im not about that debt life so i should get a Amex but im gonna wait.
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22, with 3 cards, Chase Freedom Visa, Wells Fargo Visa, Amex Blue. Last I checked my credit score was 751.
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Does anyone know what the minimum score is required to have a
Amex?
Best Buy?
Target?
Amex?
Best Buy?
Target?
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Had a 10,500 credit limit on chase freedom. Got a lil carried away. Paid it all off and got an amex gold card which works perfect since you have to pay your bill as a whole by the end the month.
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nrg1604 yea I've been paying my balance off at the end of the month.
Not sure if I should take the Discover It card or re-apply for an AMEX
Discover and Amex are both good. I use discover for the cashback on Nike, FNL, FTL, Eastbay etc and amex for it's point on big purchases. Amex hands down best customer service.
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Not sure if I should take the Discover It card or re-apply for an AMEX
Discover and Amex are both good. I use discover for the cashback on Nike, FNL, FTL, Eastbay etc and amex for it's point on big purchases. Amex hands down best customer service.
Thanks for the input
Probably get the Discover card after the holidays so that my bank account can recover and then sign up for the AMEX later on next year
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well what kind of credit score do you have?
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My mom is the goddess of credit, probably due to her accounting background.
1. Pay off the bill as soon as it comes in.
2. Don't overdraw your credit - comes off as irresponsible
3. Not sure if this is a real factor but using your card often. It certainly helps if your card is one of them points/rewards/miles per dollar cards.
1. Pay off the bill as soon as it comes in.
2. Don't overdraw your credit - comes off as irresponsible
3. Not sure if this is a real factor but using your card often. It certainly helps if your card is one of them points/rewards/miles per dollar cards.
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I have a discover IT card and I like it, the new feature where they include your fico score in your statement is nice. I've only had it for about 3 months but their 5% cashback this quarter on online purchases is tricky, I only use it for online purchases cause of that but get cashback only on some retailers like amazon. Only have one other card which was a wells fargo college student credit card but they upgraded it to a regular one so I barely use that one too other than buying small stuff since it doesn't have much perks.
I'm confident that I won't ever go in debt or be unable to pay it back so all I'm looking for now are ones with no annual credit or has some good perks. I heard AMEX has free shoprunner account to their card holders so something like that is something I'm looking for. Now if only there were one that had free amazon prime
I'm confident that I won't ever go in debt or be unable to pay it back so all I'm looking for now are ones with no annual credit or has some good perks. I heard AMEX has free shoprunner account to their card holders so something like that is something I'm looking for. Now if only there were one that had free amazon prime
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Not sure if I should take the Discover It card or re-apply for an AMEX
If you want the discover IT pm me so we can both get $50
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Or maybe a charge card or debit card is best for those people since it'll prevent them from overspending?thats a charge card
which unless you got all the cash in hand, its a good card but for a lot of people on this site who arent gonna be paying in full, a regular CC is what they need.
Amex been sending me multiple letters in the mail for the green amex, i will eventually get it one day i just hate paying yearly for cards right now.
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At the beginning of the year I was at 540. Made it a point to improve it, now I'm at 650. I'd like to get up to 750 by the end of next year.
Right now I have a Wells Fargo CC which used to be a secure card. I recently got increased in November. I'll increase again next year but I want another CC just so I can spread the charges. I'm way over 50% right now.
