24 Looking to build Credit... What are some good tips on your first Credit Card

gil23 said:
so like this forum but shoes instead?
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Yup they are obsessed with credit. 100K+ credit available, 20+ cards , aiming for 850 credit scores across the board it's pretty wild. Wealth of knowledge though I learned everything I know from myFico forums.

Exactly what Bert. Bert. said, 20K limits are given out to people with good credit and similar credit limits on their other cards. Discover has some type of CLI glitch in their system that pretty much allows you to request CLI every 2 weeks(only try it if you're credit is really good).
 
BeezyGotSole said:
Yup they are obsessed with credit. 100K+ credit available, 20+ cards , aiming for 850 credit scores across the board it's pretty wild. Wealth of knowledge though I learned everything I know from myFico forums.

Exactly what Bert. Bert. said, 20K limits are given out to people with good credit and similar credit limits on their other cards. Discover has some type of CLI glitch in their system that pretty much allows you to request CLI every 2 weeks(only try it if you're credit is really good).
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yeah i been reading the fico forums about gardening and whatnot. :lol:


[@]BeezyGotSole[/@b]One question, *** does that credit translate say to get good apr on a car or something like that?
 
gil23 said:
yeah i been reading the fico forums about gardening and whatnot. :lol:


[@]BeezyGotSole[/@b]One question, *** does that credit translate say to get good apr on a car or something like that?
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Truthfully it's all about how you use the credit. Someone with 1-2 cards and a car loan could have better credit than someone with 10+ cards if the person with all of that credit is not using it responsibility.

Man I haven't even got into all of that gardening stuff lol, too obsessed. You also have to remember alot of those people are 40+ years old so of course they wouldn't want any new cards. I am trying to get all of the cards I need by time I am 25.
 
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BeezyGotSole said:
Truthfully it's all about how you use the credit. Someone with 1-2 cards and a car loan could have better credit than someone with 10+ cards if the person with all of that credit is not using it responsibility.

Man I haven't even gotten into all of that gardening stuff lol, too obsessed. You also have to remember alot of those people are 40+ years old so of course they wouldn't want any new cards. I am trying to get all of the cards I need by time I am 25.
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yeah i feel you, this discover card will be my second card and will be using it the most this next 12 months ...seems like chase prequalified me for either of their 3 cards but im good for now plus i really just want to get the cash back and shiet :lol:
 
If you travel a lot, I recommend the chase sapphire preferred card. 20% off when you book with points. Definitely worth the $95 annual fee (waived the first year). I've book 4 flights basically for free since getting the card. I had it for a year and a half now.
 
I made a lot of mistakes the past year with my credit card. My score is at a 700 now and let's just say my CC debt > My liquid cash

What should I do? :lol: :smh:
****, man :smh:
Once I get rid of this debt Im done. It's a growing experience I guess. :smh:
 
FlyNY said:
I made a lot of mistakes the past year with my credit card. My score is at a 700 now and let's just say my CC debt > My liquid cash

What should I do? :lol: :smh:
****, man :smh:
Once I get rid of this debt Im done. It's a growing experience I guess. :smh:
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Focus on paying it down gradually without stressing yourself out
Maybe 50-100 if u can afford it each check
Last Friday I spread out $1,900 between 6 credit cards
Ranging from 200-400 on each card
 
sunshineblotters said:
I hope you mean just for credit cards or my entire generation is ****** with our student loan balances
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It's just for credit cards not loan balances. Keeping your total utilization under 30% will keep your score high, keeping it between 1%-10% will have your score at its highest point.
 
So if I use 95% of my limit but in pay it before the statement closes is that still bad ? Or only what shows in your statement
 
gil23 said:
So if I use 95% of my limit but in pay it before the statement closes is that still bad ? Or only what shows in your statement
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It is not bad, credit bureaus only see what shows on the statement.

For example if your payment is due on the 7th, your statement will cut on the 10th.

To safely pay off your balance you should pay by the 5th at the latest.

Doesn't matter how much you spend in between statements all that matters is the balance that is reported when the statement cut.

For some reason some people think that your balance is reported daily/weekly, which is just not true. Balance is reported once a month and it is your statement balance only.
 
Repped

One last question. ..is it bad in your cc company eyes? Will it keep yoh from growing that cc? Thanks
 
Man I had a small $500 visa credit card I applied for when I was 18. I was inexperienced so I used it for like one thing and then paid it off after some months and closed it. I'm 28 now. If I still had that card open, my oldest credit line would be 10 years by now instead of 5 years :smh:
 
gil23 said:
Repped

One last question. ..is it bad in your cc company eyes? Will it keep yoh from growing that cc? Thanks
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No same applies to the company. If your statement is a maxed out balance they care, if your statement is below 30% utilization they don't care.

You can use your card however you like in between statements.
 
oidreez said:
Man I had a small $500 visa credit card I applied for when I was 18. I was inexperienced so I used it for like one thing and then paid it off after some months and closed it. I'm 28 now. If I still had that card open, my oldest credit line would be 10 years by now instead of 5 years :smh:
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Should have never closed it man, that sucks
 
Yea I had posted a story of how I ended up with one card from a previous transaction (timeshare company pitching a 24 month no interest option to buy...I bought and then cancelled it, only to find out, they opened a CC in my name and that is how I had the no interest for it, lol). 

That was 2.5 years ago and I still have the card open. I just cut them up when I get them so nobody else gets them and so I never can use it really. 

All this talk of having crazy amounts of Credit opened, had me add up all of mine now with this DiscoverIT card.....$70,5k total 
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Yea I am done with cards 
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I only have about $2k in use at the moment as well, and that should be paid off in a month or 2. 
nthat.gif
 
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