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

Dam itz Lou said:

I agree. For $450 a year the platinum card should have some bonus categories. A lot of people think that about the prestige. You get a lot of value the first year from the prestige.

if you applied today, you'd get a $250 air credit and another credit Jan 1. $500

50K points = $800

Use the 4th night free perk twice, lets say it saved you $400 total

Global entry - $100

thats $1800. Minus $450 for the annual fee ($350 if you do it at the branch) you're up $1350 in year 1. If you dont like it for whatever reason, you cancel it. This isn't including all the other benefits of the card.

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I`ll probably do a google search, but have you seen anyone do a direct comparison /breakdown of the Prestige vs the Amex Gold Rewards?

Main reason I love the Amex is "No Credit Limit", like when I wrecked my car last yr and was waiting on Geico to cut me a check, I used used my AMEX for my downpayment, so I got a ton of points from that transaction since it was a few grand, and when I got my check from Geico just cleared the balance.

June 2016 point valuation by TPG
[table][tr][td]PROGRAM[/td][td]June 2015 (cents)[/td][td]May 2016  (cents)[/td][td]June 2016 (cents)[/td][td]What Changed/ News?[/td][/tr][tr][td]American Express Membership Rewards[/td][td]2.0[/td][td]1.9[/td][td]1.9[/td][td]30% bonus on transfers to Etihad through June 15. Save 25% when redeeming for gift cards (targeted).[/td][/tr][tr][td]Barclaycard Arrival Miles[/td][td]0.5-1.1[/td][td]1.0[/td][td]1.0[/td][td]  [/td][/tr][tr][td]Capital One[/td][td]1.0[/td][td]1.0[/td][td]1.0[/td][td]  [/td][/tr][tr][td]Chase Ultimate Rewards[/td][td]2.1[/td][td]2.1[/td][td]2.1[/td][td]Flying Blue added as new transfer partner.[/td][/tr][tr][td]Citi ThankYou[/td][td]1.6[/td][td]1.6[/td][td]1.6[/td][td]Citi Forward card lowers earning rates.[/td][/tr][tr][td]Diners Club Rewards[/td][td]2.1[/td][td]2.1[/td][td]2.1[/td][td]  [/td][/tr][tr][td]FlexPerks[/td][td]1.33-2[/td][td]1.33-2[/td][td]1.33-2[/td][td]  [/td][/tr][tr][td]Aeroplan[/td][td]1.6[/td][td]1.5[/td][td]1.5[/td][td]  [/td][/tr][tr][td]Alaska[/td][td]2.0[/td][td]1.8[/td][td]1.8[/td][td]New partnership with JAL announced. Earn bonus miles when you fly on partner airlines.[/td][/tr][tr][td]American[/td][td]1.7[/td][td]1.5[/td][td]1.5[/td][td]Flights to Europe and New Zealand  earn bonus miles. Free Platinum challenge for select members (targeted). Admirals Club fees increasing.[/td][/tr][tr][td]ANA[/td][td]1.5[/td][td]  1.6[/td][td]1.6[/td][td]  [/td][/tr][tr][td]Avianca[/td][td]1.7[/td][td]1.7[/td][td]1.7[/td][td]  [/td][/tr][tr][td]British Airways[/td][td]1.6[/td][td]1.5[/td][td]1.5[/td][td]  [/td][/tr][tr][td]Delta[/td][td]1.2[/td][td]1.2[/td][td]1.2[/td][td]Discounted awards through June 7. Changes to Comfort+ policy on international flights. Improvements to companion upgrade policy.[/td][/tr][tr][td]Emirates[/td][td]–[/td][td]1.2[/td][td]1.2[/td][td]  [/td][/tr][tr][td]Etihad[/td][td]–[/td][td]1.4[/td][td]1.4[/td][td]Discounts and bonus miles through Etihad app.[/td][/tr][tr][td]Flying Blue[/td][td]1.3[/td][td]1.3[/td][td]1.3[/td][td]  [/td][/tr][tr][td]Frontier[/td][td]1.1[/td][td]1.1[/td][td]1.1[/td][td]  [/td][/tr][tr][td]JetBlue[/td][td]1-1.7[/td][td]1-1.4[/td][td]1-1.4[/td][td]Triple points for travel in June.[/td][/tr][tr][td]Miles & More[/td][td]–[/td][td]1.4[/td][td]1.4[/td][td]Cheaper flights in Europe with Lufthansa Surprise fares.[/td][/tr][tr][td]Singapore Airlines[/td][td]1.5[/td][td]1.5[/td][td]1.5[/td][td]Redeem KrisFlyer miles for Premium Economy.[/td][/tr][tr][td]Southwest[/td][td]1.3[/td][td]1.5[/td][td]1.5[/td][td]  [/td][/tr][tr][td]United[/td][td]1.5[/td][td]1.5[/td][td]1.5[/td][td]1,000 miles for trying finance app. Elite members receiving status upgrades and Economy Plus subscriptions. Redeem Global Premier Upgrades on ANA.[/td][/tr][tr][td]Virgin America[/td][td]1.5-2.3[/td][td]1.5-2.3[/td][td]1.5-2.3[/td][td]50% bonus on some routes through June 7.[/td][/tr][tr][td]Virgin Atlantic[/td][td]1.5[/td][td]1.5[/td][td]1.5[/td][td]  [/td][/tr][tr][td]Club Carlson[/td][td]0.4[/td][td]0.4[/td][td]0.4[/td][td]  [/td][/tr][tr][td]Choice Privileges[/td][td]–[/td][td]0.6[/td][td]0.6[/td][td]Free status match opportunity.[/td][/tr][tr][td]Hilton[/td][td]0.5[/td][td]0.5[/td][td]0.5[/td][td]Use Google Maps for room selection. Earn double points with summer promo. Status matches offered through 2018.[/td][/tr][tr][td]Hyatt[/td][td]1.8[/td][td]1.8[/td][td]1.8[/td][td]Save with new members-only discounts. Spring promotion offers up to 75,000 points.[/td][/tr][tr][td]IHG[/td][td]0.7[/td][td]0.7[/td][td]0.7[/td][td]New member rates. Bonus points with Accelerate promotion.[/td][/tr][tr][td]Marriott[/td][td]0.7[/td][td]0.7[/td][td]0.7[/td][td]100,000 points with Marriott Business card. Earn bonus points with Summer 2016 promotion. Two hotels suing  over upcoming merger.[/td][/tr][tr][td]Ritz-Carlton[/td][td]  0.7[/td][td]  0.7[/td][td]0.7[/td][td]Up to 120,000 points with Rewarding Journeys  promotion (targeted).[/td][/tr][tr][td]Starwood[/td][td]2.4[/td][td]2.5[/td][td]2.5[/td][td]10,000 points for SPG Amex referrals. Earn up to 3x points with Triple Up promotion.[/td][/tr][tr][td]Wyndham[/td][td]1.2[/td][td]1.2[/td][td]  1.2[/td][td]New elite status levels and award benefits. Bonus points and more with current promotions.[/td][/tr][tr][td]Amtrak[/td][td]–[/td][td]2.5[/td][td]2.5[/td][td]  [/td][/tr][/table]
Read more: http://thepointsguy.com/2016/06/june-2016-monthly-valuations/#ixzz4D669X2eK

Thing is lucky you will build up much more points with the prestige compared to the platinum card.

Have you looked at their point categories?

capital sb


good info, my house gets Chase Sapphire in the mail literally every week





only my sister and mom get offers for it not myself |I


well.......capital one quicksilver until further notice


i might get the Bank of America card the guy told me about....sounds good but I dunno

BeezyGotSole said:

Thing is lucky you will build up much more points with the prestige compared to the platinum card.

Have you looked at their point categories?

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Prestige:
Rewards program Earn 3 ThankYou points for every dollar spent on airfare and hotels, 2 ThankYou points for every dollar spent on dining out and entertainment, and 1 ThankYou point for every dollar spent on other purchases.

Amex Gold Premier Rewards
3X points for flights booked directly with airlines. 2X points at US restaurants, US gas stations, and US supermarkets. 1X points on other purchases. Terms and limitations apply.

Amex is better imo unless you travel a TON. The Gold Premier is better than the Platinum for straight rewards too. And the Annual Fee is much less. And then Amex has random stuff they do 2x points for every quarter like Amazon, Uber, Bestbuy.com, etc.

lol I think I`m fine where I`m at.

Do you, but the AF is the same once you account for airfare credit

What's the suggested timeframe to request CLI for DiscoverIT after getting it?

Simba King said:

What's the suggested timeframe to request CLI for DiscoverIT after getting it?

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90 days for your first one. After that you can pretty much request every 30 days

Based Mod said:

Do you, but the AF is the same once you account for airfare credit

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AMEXs 2x points cover more.

LuckyLuchiano said:

Based Mod said:

Do you, but the AF is the same once you account for airfare credit

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AMEXs 2x points cover more.

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Those 2x points don't mean anything when you look at all of the other benefits the Prestige gives - lounge access, free rounds of golf at $300/round courses, 4th night free at any hotel, etc.

Four Season in MIA is running a promo for booking two nights get the third free; I can combine that with the Prestige benefit and get the 4th for free as well. So basically get 4 nights for the price of two. Think I might book that some time after hurricane season.

But again, do you. There's no one size fits all CC, which is why I think it's silly for people to not have more than one.

Based Mod said:

Those 2x points don't mean anything when you look at all of the other benefits the Prestige gives - lounge access, free rounds of golf at $300/round courses, 4th night free at any hotel, etc.

Four Season in MIA is running a promo for booking two nights get the third free; I can combine that with the Prestige benefit and get the 4th for free as well. So basically get 4 nights for the price of two. Think I might book that some time after hurricane season.

But again, do you. There's no one size fits all CC, which is why I think it's silly for people to not have more than one.

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of course I`m speaking for my situation. Once again I dont travel enough to benefit from the 3x points compared to the 2x points I get for more categories with Amex. Also the Golf thing is worthless lol.

I have multiple cards, and for my situation the Prestige isn't worth it, and doesnt make sense to have it along with the Amex especially because that means now my spending would have to be divided among the cars so now I dont maximize benefits.

based mod is hooked!

How much does one have to spend yearly to make the prestige a worthwhile card to have?

1 point = $1
Spend $3,000 in 1st 3 months = 50,000 ($500.00)
So you'd have to spend $3,000 in the first 3 months to make it worth it.
Afterwards you'd have to spend $45,000 just to cancel out the annual fee

Or $15,000 in travel
Or $22,500 on restaurants or entertainment

friscostylez said:

How much does one have to spend yearly to make the prestige a worthwhile card to have?

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Lightweight Champion said:

1 point = $1
Spend $3,000 in 1st 3 months = 50,000 ($500.00)
So you'd have to spend $3,000 in the first 3 months to make it worth it.
Afterwards you'd have to spend $45,000 just to cancel out the annual fee

Or $15,000 in travel
Or $22,500 on restaurants or entertainment

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That's if you completely ignore any benefits included.

So you can get the card with $350 AF. If you fly at least once a year with a $250 or more ticket, you'll get reimbursed $250, making it essentially $100/year. If you use the 4th night hotel free benefit at a spot that costs $100/night (there's no limit as to how much that 4th night costs and no limit as to how many times a year you can use it), you've already evened out. Everything else is gravy.

Dam itz Lou said:

based mod is hooked!

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I haven't even gotten to take advantage of it yet

Actually signing up for the Global Entry right now. Super useful for me since it comes with TSA pre-check and I fly domestically at least 5-6 times a year. Also live in SD and this would give me the Sentri pass that lets me bypass all that traffic at the Mexico border.

damn based no lie I'm hella tempted to get it, if it was like 2-3 years ago, I would have already applied lol. But as I gotta older, I spent significantly less and its actually a reason why im thinking cancelling the csp. I know for most cards with an annual fee, theres a started minimum that u gotta spend or ur better off with a different card or a card without an AF.

Just outta curiousity how well is the card made lol. I love how the csp is built and would love a card that is similar.

BeezyGotSole said:

AMEX definitely fell off, especially after they stopped allowing people to back date new cards to the original joined year.
I really think its all about the name and branding now.

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def


i need a card with perks damn the name

food & travel perks please

BUT if youre into concerts the AMEX presale with Ticket Master is awesome.......i just ask mom or sis for the card, thats what i did for the Drake & Future concert and snagged some floor seats up close. Other than that, gimme points worth a damn.

friscostylez said:

damn based no lie I'm hella tempted to get it, if it was like 2-3 years ago, I would have already applied lol. But as I gotta older, I spent significantly less and its actually a reason why im thinking cancelling the csp. I know for most cards with an annual fee, theres a started minimum that u gotta spend or ur better off with a different card or a card without an AF.

Just outta curiousity how well is the card made lol. I love how the csp is built and would love a card that is similar.

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I just signed up for the CSP for its sign-on bonus, but I personally don't have much of a use with the CSP as a regular card. I'm planning on converting it to the Freedom Unlimited once it comes time for the AF to kick in. You might want to consider the same instead of canceling it altogether. You might want to confirm that the UR points travel with the card though before you do that.

Prestige's card is plain old plastic which was kinda disappointing

Based Mod said:

That's if you completely ignore any benefits included.

So you can get the card with $350 AF. If you fly at least once a year with a $250 or more ticket, you'll get reimbursed $250, making it essentially $100/year. If you use the 4th night hotel free benefit at a spot that costs $100/night (there's no limit as to how much that 4th night costs and no limit as to how many times a year you can use it), you've already evened out. Everything else is gravy.
I haven't even gotten to take advantage of it yet

Actually signing up for the Global Entry right now. Super useful for me since it comes with TSA pre-check and I fly domestically at least 5-6 times a year. Also live in SD and this would give me the Sentri pass that lets me bypass all that traffic at the Mexico border.

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Dope! I decided to do it after my girl and I went to Miami in December. On the way back, we were on the TSA line for 30 minutes while precheck was empty. I said never again.

When we got back from Spain, if we didn't have to wait for our baggage, we would of been no more than 10 minutes from the time we got off the plane to stepping outside.

View media item 2087559
Up $75 on the AF on this hotel booking alone.

I get a 15% bonus points for being a CitiGold customer. I'm earning 3.45 points per dollar spent for travel. It comes out to 6300 points which is worth about $100.

I'll also earn SPG points and get a 50% bonus for being a SPG gold customer.

damb........that sounds good, i need a new card soon very soon this quicksilver capital aint enough b

Increased score 200 pts

I am a mortgage officer at a community bank. Knowing the importance of credit I have been helping my daughter to rebuild her credit over the past 11 months. Payment history makes up 35% of your credit score. If you have late payments -a good payment history takes time to rebuild! When I started working with my daughter her credit score was 533 due to late payments on her student loan and a medical collection of $135. I am pleased to say her current score is 754! You may ask how could her score be increased over 200 points in less than a year?
• First thing we did was put her student loans on automatic payments so she was sure not to have another late payment!
• Next she obtained a secure credit card with a limit of $1000 to pay for gas and groceries and pay off monthly
• I then added her to 3 of my credit cards as an authorized user. I choose the oldest with high credit limits.(I did not give her the cards to use-only added her as an authorized user for my own protection) BEFORE being added as an authorized user be SURE you know the credit history and habits of the owner of the account. If there is a late payment on their account this will be reflected on YOUR credit history!
• This increased her credit approximately 100 points
• She paid the collection (less than 24 months old)directly to the creditor NOT to the collection agency
• Use caution when paying collection accounts if over 24 months old. If you make a payment the account then becomes active and can actually hurt your credit score
• She received offers from credit card companies as pre-approved this gave her credit with out a credit inquiry
She and I meet regularly to discuss budget and use of credit cards-she uses them for normal expenses that she previously used her debit card for-gas & groceries. This allows her to save the money and pay the credit card balance monthly.
Always remember how difficult it is to increase your credit score and be sure to maintain it!

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**** well i need to apply for some petty loans iPhone 7 don't sound like a bad idea now............and pay off credit card every month which i already do.

Yeah like based said the prestige will pay itself off time again. Haven't had my Amex PRG pay itself off yet. It's literally just used as a debit card.

That 4th night free perk is gold, I'd love to take advantage of that hotel in Miami 4 nights for the price of 2 .

Based Mod said:

I just signed up for the CSP for its sign-on bonus, but I personally don't have much of a use with the CSP as a regular card. I'm planning on converting it to the Freedom Unlimited once it comes time for the AF to kick in. You might want to consider the same instead of canceling it altogether. You might want to confirm that the UR points travel with the card though before you do that.

Prestige's card is plain old plastic which was kinda disappointing

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UR points won't transfer to the freedom unlimited or any other non annual fee chase card.

jon4rd said:

jthagreat said:

I think it was this thread but someone was talking about requesting a credit increase...

After a hiccup on my first request due to my address being a PO box, I got 125% increase. tripped me out.

For those that have requested, what was your results?

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What kind of card did you request an increase on? It varies by company really. Amex you can get a 300% CLI, discover my first CLI was 400%

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it was with my USAA account, they recently switched to visa.

ok so the number can be really high.

jthagreat said:

it was with my USAA account, they recently switched to visa.

ok so the number can be really high.

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Yea definitely. I mean for what it's worth on my discover I went from $1000 to $5000 on my first CLI and have only gotten $4000 on each CLI after, but Amex the 3x CLI is pretty much a given no matter what your limit is. You can have $8k limit and be approved for a $24k limit

jon4rd said:

Based Mod said:

I just signed up for the CSP for its sign-on bonus, but I personally don't have much of a use with the CSP as a regular card. I'm planning on converting it to the Freedom Unlimited once it comes time for the AF to kick in. You might want to consider the same instead of canceling it altogether. You might want to confirm that the UR points travel with the card though before you do that.

Prestige's card is plain old plastic which was kinda disappointing

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UR points won't transfer to the freedom unlimited or any other non annual fee chase card.

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yeah you're better off just transferring to one of csp transfer partners accounts.