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

FlyNY said:
I'm sorry lol but what's so good about this new chase sapphire joint? I'll go back a couple pages and catch up, but from the past couple posts it seems like this is the Black Card of Chase :lol:

I still have a bummy Chase Slate with a 2k limit. Could I upgrade to a sapphire reserve and still get the travel bonus and everything? I wanna be cool like y'all :lol:

And what's this 5/24 rule you guys speak of? :nerd:
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You wouldn't be able to upgrade to the sapphire reserve. In order to do so you need 10k limit or above, so if you have any other chase cards you can transfer the limit or request a increase then upgrade, otherwise you wouldn't qualify to upgrade your account with just a 2k limit card.

eyanks said:
why do you sign up for credit cards then? do you get the bonuses and then never use them?
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Not sure what's the person reason for having so many cards but not using any but his debit. But I know one thing for sure a lot of people who play the churning and sign up bonus game are constantly applying and chasing the next new big bonus on any card. That's why they end up with so many new accounts or closed accounts, and a bunch of useless cards lingering around. Their credit report gets cluttered too. Yet, most always complain about the 5/24 rule, but how can you complain and what can you expect when it's an on going cycle of constantly applying and applying. Takes self control to buckle down and choose a card you actually wanna grow with and keep long term and not just applying cause it's a big bonus, most will find it a useless card once they spend that bonus away on a trip. I'm not about that life, can't just go after any card cause it's the "biggest bonus" ever. There's always going to be a next and next and next.
 
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Zyzz said:
I have like 15 cards

Just acquired about 4 recently
laugh.gif


I'm not really pushing the discover since I probably haven't even had a sign up in months [emoji]128514[/emoji][emoji]129300[/emoji]
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Proving my point lol. Ain't nothing wrong with it, just seems like your wasting hard pulls.

You have 15 cards and not 1 is over 5K lol . You don't even care to try to increase the limits.

You also don't need a bunch of cards to have good credit. 1 secured card and an installment loan will get you great credit.
 
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Debit card? Nah, I want my $$$ to work for me. I want some type of rewards every time I swipe the card, b.
 
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The only thing I use my debit card for now adays is to pay my rent and pay my credit card bills .
 
Then what's the best card to use as cash back

Can't be the IT card, I rarely see you guys mention it
 
On the fence about that reserve card right now. It doesn't really do anything for me besides that sign up bonus. You have to pay the annual fee upfront so there's no avoiding it by cancelling if I'm reading this right. So I'd have to spend $4k in 3 months which is no problem to get that $1,500 rewards. I use $300 travel credit to fly with the $1,500 of rewards. Then I would cancel the card I guess? I wouldn't use it otherwise because I don't travel that often and my girl and I are always cooking at home. Probably go out to dinner twice a month so that's not an incentive for me. My other card is 3x groceries and 5x gas which is a lot better, no annual fee either. I dunno what y'all think? I am thinking of taking a trip soon, but that's for my birthday in November so I probably won't spend the $4k by then.
 
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Hennessy said:
On the fence about that reserve card right now. It doesn't really do anything for me besides that sign up bonus. You have to pay the annual fee upfront so there's no avoiding it by cancelling if I'm reading this right. So I'd have to spend $4k in 3 months which is no problem to get that $1,500 rewards. I use $300 travel credit to fly with the $1,500 of rewards. Then I would cancel the card I guess? I wouldn't use it otherwise because I don't travel that often and my girl and I are always cooking at home. Probably go out to dinner twice a month so that's not an incentive for me. My other card is 3x groceries and 5x gas which is a lot better, no annual fee either. I dunno what y'all think? I am thinking of taking a trip soon, but that's for my birthday in November so I probably won't spend the $4k by then.
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Just wait till you're ready to pay for the trip then. Make sure you get two uses out of the airline credit before you cancel. If I'm not mistaken it restarts in January or something
 
rrlegend said:
The only thing I use my debit card for now adays is to pay my rent and pay my credit card bills .
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I even use my credit card to pay rent. Ive racked up tons of points and cashback doing that. Leasing office even reports to all 3 credit bureaus every month like its an installment loan so thats a plus.

I really do wish I had done this years ago man.
 
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Hennessy said:
On the fence about that reserve card right now. It doesn't really do anything for me besides that sign up bonus. You have to pay the annual fee upfront so there's no avoiding it by cancelling if I'm reading this right. So I'd have to spend $4k in 3 months which is no problem to get that $1,500 rewards. I use $300 travel credit to fly with the $1,500 of rewards. Then I would cancel the card I guess? I wouldn't use it otherwise because I don't travel that often and my girl and I are always cooking at home. Probably go out to dinner twice a month so that's not an incentive for me. My other card is 3x groceries and 5x gas which is a lot better, no annual fee either. I dunno what y'all think? I am thinking of taking a trip soon, but that's for my birthday in November so I probably won't spend the $4k by then.
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A lot of people don't realize the first year for most cards is when you're going to get the most value. You'd be up $1700 after the annual fee with two $300 travel credits (1 per calendar year) and the sign up bonus. Next year when the AF is due, You decide if it's worth keeping. I dont know if you have other chase cards but just make sure you do if you cancel cuz if not, you'll lose your points. If you don't have the CSP, get it before you cancel the reserve. Hopefully by then they're still offering the 50K sign up bonus and its only $95 a year which they waive the first year.
 
Hennessy said:
I wish I could pay rent with my CC for the points. Maybe I can?
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You probably can it all depends on your leasing office but sometimes they dont tell you unless you ask. You might get charged a small percentage fee but you can rack up tons and tons of points doing it.
 
Hennessy said:
On the fence about that reserve card right now. It doesn't really do anything for me besides that sign up bonus. You have to pay the annual fee upfront so there's no avoiding it by cancelling if I'm reading this right. So I'd have to spend $4k in 3 months which is no problem to get that $1,500 rewards. I use $300 travel credit to fly with the $1,500 of rewards. Then I would cancel the card I guess? I wouldn't use it otherwise because I don't travel that often and my girl and I are always cooking at home. Probably go out to dinner twice a month so that's not an incentive for me. My other card is 3x groceries and 5x gas which is a lot better, no annual fee either. I dunno what y'all think? I am thinking of taking a trip soon, but that's for my birthday in November so I probably won't spend the $4k by then.
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What is your other card?
 
Slicknick951 said:
Hennessy said:
On the fence about that reserve card right now. It doesn't really do anything for me besides that sign up bonus. You have to pay the annual fee upfront so there's no avoiding it by cancelling if I'm reading this right. So I'd have to spend $4k in 3 months which is no problem to get that $1,500 rewards. I use $300 travel credit to fly with the $1,500 of rewards. Then I would cancel the card I guess? I wouldn't use it otherwise because I don't travel that often and my girl and I are always cooking at home. Probably go out to dinner twice a month so that's not an incentive for me. My other card is 3x groceries and 5x gas which is a lot better, no annual fee either. I dunno what y'all think? I am thinking of taking a trip soon, but that's for my birthday in November so I probably won't spend the $4k by then.
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What is your other card?
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Visa Signature Platinum Rewards from PenFed. I've had it for a couple months they gave me $12,500 limit.
 
Is the credit score from your cc fico report the same as the one use to finance a car?
 
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