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Found out a week ago that my credit score was above 750!
24 Looking to build Credit... What are some good tips on your first Credit Card
- Thread in 'General' Thread starter Started by trynafeelmink,
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Anyone's credit score here over 9000?
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omariwestafari
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Im sure dude meant 900
But still thats kinda a far fetched reality for most folks IMO
But still thats kinda a far fetched reality for most folks IMO
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50% is WAY TOO HIGH. Below 10% Is where you want to be.
If you ever get denied, you can call the their reconsideration line and theyll look over your application.
http://travelsort.com/blog/credit-card-denied-call-these-reconsideration-phone-numbers
I just finished paying the last $3k I owed on my discover card and I am now officially debt free. It feels GREAT.
My fico scores range from 705-730. My DTI ratio is 5% and it's about to go to maybe 1 or 2%. The only negative I have my credit report is a state tax lien that is set it to come off oct. 2016. I'm sure im not going to see much of an increase if at all by paying off my discover card. Is it going to take forever to get it close to 800 ?
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Unless you pay before the statement cuts. Thats the difference , the balance at statement day.
dam itz lou
it all comes down to Average Age of Accounts (AAoA) . I know that most people that have really high scores have at least 10-15 years of perfect credit.
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I'm at a 781 right now. I want to be at 800 by the end of the year. I think I'll get at least in the 790's when I go from 21% to 0% card utilization.
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Got a stupid question probably but google isnt helping me.
For someone that wants to get their first credit card with no prior credit history, can they get a bigger limit right away (instead of the usual $500) if they put say a 5k deposit in a savings account in the same bank as collateral basically?
For someone that wants to get their first credit card with no prior credit history, can they get a bigger limit right away (instead of the usual $500) if they put say a 5k deposit in a savings account in the same bank as collateral basically?
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superb
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Man credit utilization dont seem to matter to me. I have one card at 70% amd another at 45% and i just got approved for some more credit
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I think it depends on income and what kind of card, but don't quote me on that.
My first card was a mall store card. I was 19/20 when I got it. Gave them a random salary (40K) and got a limit of 2000. It went up to like 5000 over time.
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0% Utilization will drop your score. Keep it at 1%.
Also max score is 850 not 900
quise2024
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depends on your income mostly and then what kind of card you want to get. Limits are at their discretion BUT once you get to where you've used about 90% of the funds available and have paid on the card for a bit you can go in online and request a limit increase OR they usually send you something by email or mail saying that you're eligible for an increase
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That's weird. Probably gonna keep the balance under $100 then I plan on using it for gas mostly since I get 3% cash back from Bank of America.
quise2024
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Its true though. Once you have a card you need to keep some kind of balance on it or to keep using it and paying off and repeat.
If you arent gonna then just close out the account.
So yeah using it for gas would be a good option
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Yeah just use it for small stuff, let the balance report then pay it off. Don't close the account if it your oldest account, or if you don't have many accounts. That will also drop your score.
For maximum credit scores you want one card reporting 1%-9% utilization, and all other cards reporting a 0 balance.
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It's not the only factor but it also depends on what card you applied for.
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A secured credit card? You'll basically put the money in a CD type account that the bank will use as collateral in case you default on your payments.
However, you won't have access to just spend the $5000 from the account and put another $5000 on the card.
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Not sure I understand, but basically my situation is: Im gonna be employed, no prior credit history, need a credit line of at least 2k, can offer a deposit of 5k to the bank
So basically Im asking if its possible to get a 2k credit line on a first credit card while being employed with no prior credit history?
rcdot
formerly rennzyboo
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i think we just don't see the reasoning as to why you specifcally NEED a 2k limit. even if you were to do exactly what you said most likely banks will just offer you the bare min amount. I mean if you really NEED that 2k limit I would probably get a parent or legal guardian or someone who has a credit hx to cosign for you but even then idk.
is there a problem if you were to get a CC and just use it regularly and pay it off monthly and then wait another 4-6 months and then ask for a credit increase?
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To simply answer your question: yes.
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i have a Barklays reward card. have had it 6 months with a $800 credit limit. i use up most my limit every month and pay it down to about 10% every month.should i ask for a CLI or wait to for them to do it?
another question is i have a secured card from cap 1 that helped me build my credit up.have had it for 18months and was wondering if I should close it now? it did its job and i dont use it anymore but its my oldest account since my bankruptcy....
another question is i have a secured card from cap 1 that helped me build my credit up.have had it for 18months and was wondering if I should close it now? it did its job and i dont use it anymore but its my oldest account since my bankruptcy....
rcdot
formerly rennzyboo
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general advice I've read is to just leave open. if you don't plan on using the account ive read just to keep a 10% balance on it and just keep paying it off. closing the account iirc would drop your score a tad bit, but leaving it open with small dues will help maintain or even increase credit scores.
not too familiar with details so feel free to correct me anyone.
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Is your new job requiring you to use your own money for expenses and then reimburse you? Not sure where the job factors into "needing" a credit line. Is it a large company?
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2K Limit on your first card highly unlikely imo
