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

Hank Scorpio said:
Like I said earlier, Amex Platinum is only worth it if you travel a lot and spend a ton of money on the card.

If you're into gas and groceries, then you should look into Blue Cash Preferred.
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I do travel a lot

That's why i have the AMEX gold 4x Points on flight purchases....I don't really mess with Cash Back cards.

also Chase is killing AMEX right now.

AMEX is going to have to step it up next year if they want to keep me.
 
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rock steady22 said:
I have the Capitol one secured card(filed bankruptcy and rebuilding). Had it for about a year. They actually gave me 100 credit increase after 6 months. Everything in good standing, always pay off balances. Should I wait for them to offer an upgrade? Or should I wait a certain amount of time to apply for an upgrade?
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You should probably hit them up for an upgrade. Its about time especially after a year. Also make sure you filled out your income and other information on the site. They told me that helped them in the decision to increase.

@HankScorpio yeah your 100% right. I dont think they will increase this for awhile. I actually like the way they are running things especially for people who are on a rebuild/repair path.

I just got a Chase United Card. How do you guys feel about those?
 
kurage25 said:
Does anyone have any opinions on the capital one quicksilver card? Was considering applying for one. My score is in the 650 range as of a few months ago (going by the rejection letter i got for the chase freedom card) would be my first credit card and im 19. Just need something for gas, food, and maybe a few other things. Plan is to just pay it in full every month 
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I have it
It's cool
1.5 I believe cash back
Raised my limit after 6 months
Even though I racked up a high balance and only pay my minimum
 
Hank Scorpio said:
Let this be a good example for other people in this thread. Stay away from Amex charge cards, unless it's the Platinum.
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Charge cards have their uses and paying the annual fee is a choice that people should decide for themselves. Most people do not need a charge card.  But it is still the easiest way in the door with amex, still a better option than a debit card, and still adds to your credit file.

I keep my Senior Gold Card for 55 bucks a year. Why?

1) NO LIMIT (ridiculously high invisible limit) 
  • awesome option for resellers who have the cash on hand but now get to float the spend for a month. When DB, All-Star Collections, and 11s come out every year I can cop and flip without worrying about high utilization.
  • And you never know man... The cartel could kidnap my family and want $25k for their safe return. With a plain credit card I might have to watch their heads get cut off. With the charge card, I can pay them and file a claim later :smile:
2) Because it looks good when I'm trickin' on first dates
  • "Don't trip, I got it." "OH gold amex oooooh. Rich guy"
  • nevermind that credit score has nothing to do with income. 55 bucks for moist undergarments thanks to amex's decades of great marketing, worth a few dollars a year to me.
 
:lol: I suppose those are all legitimate reasons to keep the card.

If you're getting yambs because of the gold, you should apply for the Platinum then.
 
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Just randomly asked for a credit limit increase with my chase freedom and went from a limit of 3k to 7k. I thought about getting a citi double cash card (0% Intro APR for 15 months is tempting on these new cards) but im just gonna stick with the freedom and amex premier rewards
 
JoCampbell23 said:
Just randomly asked for a credit limit increase with my chase freedom and went from a limit of 3k to 7k. I thought about getting a citi double cash card (0% Intro APR for 15 months is tempting on these new cards) but im just gonna stick with the freedom and amex premier rewards
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How long have you had the Freedom for?
 
DLee23 said:
Charge cards have their uses and paying the annual fee is a choice that people should decide for themselves. Most people do not need a charge card.  But it is still the easiest way in the door with amex, still a better option than a debit card, and still adds to your credit file.

2) Because it looks good when I'm trickin' on first dates
  • "Don't trip, I got it." "OH gold amex oooooh. Rich guy"
  • nevermind that credit score has nothing to do with income. 55 bucks for moist undergarments thanks to amex's decades of great marketing, worth a few dollars a year to me.
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:rofl: good one

but on a serious note I have no knowledge on charge cards
 
PolosandDunks said:
DLee23 said:
Charge cards have their uses and paying the annual fee is a choice that people should decide for themselves. Most people do not need a charge card.  But it is still the easiest way in the door with amex, still a better option than a debit card, and still adds to your credit file.

2) Because it looks good when I'm trickin' on first dates
  • "Don't trip, I got it." "OH gold amex oooooh. Rich guy"
  • nevermind that credit score has nothing to do with income. 55 bucks for moist undergarments thanks to amex's decades of great marketing, worth a few dollars a year to me.
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:rofl: good one

but on a serious note I have no knowledge on charge cards
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its straight forward, what ever you charge you owe the entire amount at the end of the month. no minimum payments or carrying balances.
 
Was thinking about getting my first credit card. 23 got a pretty good job and will only use it for emergencies and gas/groceries to ensure I don't go overboard with my first card. Saw on slick deals a promotion for discover IT card you get $150 cash back for spending $750 in the first three months. That really got my interest so my question is, is this a good intro card?
 
jon4rd said:
Was thinking about getting my first credit card. 23 got a pretty good job and will only use it for emergencies and gas/groceries to ensure I don't go overboard with my first card. Saw on slick deals a promotion for discover IT card you get $150 cash back for spending $750 in the first three months. That really got my interest so my question is, is this a good intro card?
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Its a rather good card especially since they give 5% cashback on gas for like 3-4 months a year

also the online cash back is :pimp: 10% cashback on Nike.com sometimes they do 15%
 
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jon4rd said:
I applied and got denied. Is it because I don't have any credit?
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most likely, discover at least to me seems like they give to just about anyone as long as your credit isnt total crap

get a secured card brah, should help you a lot
 
So I'm buying an engagement ring and decided I minus whale pay off my cards n get my ish situated so I could get 0% for 15 months. Feels good to have all zero balances dept the gas I pumped today.

I had a capital one secured card like 5 years ago... Now I have a cap one cash rewards card with 1k limit. Chase Freedom with 2500 limit. Discover it with 5300 limit and Blue Nile card with 4k limit. I called cap one to get a CLI and they denied me cuz I had one late ( litterally the only ever and because I moved n didn't getta paper statement. Forgot all about it)

Got 3 new cards in a month tho lol. Should be intresting how far i drop. My utilizitaion should still be aight tho even after dropping these racks
 
Zyzz said:
because thats so hard to believe? :lol:

its not like i got approved for platinum or gold
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We want to see the card or your Duck tales. You never even posted your car... Hummm
 
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Really think I am going to get the Discover IT card around April. I like the price guarantee thing that they have I think it will come in handy during BF and Christmas time. Also like their rotating categories.
 
I have a Dell Preferred Account with a $3500 limit. I'm about to cancel it because I have Paypal Credit and get 6 months no interest on everything over $99. The limit on that is $2200. The only real credit card I have is a Bank of America Cash Rewards card. I got it in college from Clout Visa (predatory lender who called my dorm room phone one day). They gave me $1000 limit and I didn't even have a job. Bank of America bought them out and I just never got rid of it. The limit is $7800 now. The last thing I bought was my PS4 a year ago and I paid it off shortly after.
 
So is opening a lot of lines of credit to increase the total credit limit to decrease total utilization a good look or no?
 
so uhh apparently im eligible to get amex fees waived (SCRA) so i been comparing their cards but i still cant pull the trigger on which one.......my main criteria is access to airport lounges and acquiring miles, i dont really care about the other rewards since my Chase sapphire preferred covers alot of things already
 
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