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

I think they will only report late payments when they are 30 days late. So it shouldn't be an issue with your credit report. Now late fees or whatever I'm not sure how they do that
 
Based Mod said:
By that, do you mean you used your credit cards a few times and never paid them? There's no way you're at 329 without skipping payments.
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yeah i only had one cc and never paid it off pkus a student loan and some hospital bills. Ive been so broke i havent to pay at all , but i just sarted a job so i should be able to pay somethins off
 
That cc is more than likely charged off and went to collections. I'd say save up and open a secured credit card to start rebuilding your credit
 
Never too late broseph. Get on the the grind now and take care of it. It'll only get worse before it gets better if you don't do something about it.
 
Just signed up for that Chase Sapphire Preferred. Annual fee starts in year 2 at $95. Do they have the ability to increase the annual fee as they feel, or will it still be $95 per year 15 years from now?

Prob should have looked into that before signing up :smh:
 
Every credit card company has the right to up their fee but they also have a duty to their customers to update them and send information in regards to the changes.
 
Chopper said:
Just signed up for that Chase Sapphire Preferred. Annual fee starts in year 2 at $95. Do they have the ability to increase the annual fee as they feel, or will it still be $95 per year 15 years from now?

Prob should have looked into that before signing up :smh:
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No clue, but if by chance they do increase the annual fee and you don't want to pay it, you can always product change to another chase card. Maybe the regular chase sapphire it just doesn't let you earn ultimate rewards points
 
jon4rd said:
Chopper said:
Just signed up for that Chase Sapphire Preferred. Annual fee starts in year 2 at $95. Do they have the ability to increase the annual fee as they feel, or will it still be $95 per year 15 years from now?

Prob should have looked into that before signing up :smh:
Click to expand...

No clue, but if by chance they do increase the annual fee and you don't want to pay it, you can always product change to another chase card. Maybe the regular chase sapphire it just doesn't let you earn ultimate rewards points
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I think they can do as they well please, but I don't think raising the AF is all that common. And yea you can do a product change to avoid paying the AF. I've read people going from CSP to Freedom Unlimited pretty regularly.

Thinking about getting the CSP or Citi Prestige, but I have $800 worth of Southwest gift cards and $500 of AirBNB so I duno if I'd be able to take advantage of their perks :lol: Went ham with the Samsung Pay promos.
 
Based Mod said:
I think they can do as they well please, but I don't think raising the AF is all that common. And yea you can do a product change to avoid paying the AF. I've read people going from CSP to Freedom Unlimited pretty regularly.

Thinking about getting the CSP or Citi Prestige, but I have $800 worth of Southwest gift cards and $500 of AirBNB so I duno if I'd be able to take advantage of their perks :lol: Went ham with the Samsung Pay promos.
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Sheesh lmao you're good on vacations for a minute
 
can anyone school me on balance transfers? went overboard on a recent purchase and I don't think I can pay it off in full without dipping into my savings. It's roughly around $2k, I can probably pay half that when my payment due date comes. Would owing half that affect my score too much? It's on my chase sapphire card and been recently using it for all my recent purchases so it's been piling up.

Not sure if I should consider opening up a new card to do a balance transfer or get hit with the interest rate on it. I'm confident that I'll be able to pay it all off in 2 months, I'm more worried about the hit my credit will take if I collect an interest on my credit line than paying it off.
 
I'd just pay it off in two months and don't even trip about the interest on $1k balance for one month.
 
Balance transfers are usually 3-4% on the next card. You're looking at about $60-80 added on the balance just to transfer it. Your interest on $2k won't total that in 2 months.
 
What's the best Cashback card to get? Discover it? I have a BP Visa card that was with Chase but got switched over to Synchrony bank, and I have a Sony Rewards card that I never use. I never really save that much on the BP rewards (just $ off gas every few months) was thinking about asking for a CLI for them since it's only at $6k. Just want another card for bonuses...If I get another carday will asking for a CLI be a bad idea for this card? FICOs at a 793
 
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There's no one best. Take advantage of all cards made available to you. Plenty of sign-up bonuses around too.

Chase just announced that the Freedom is gonna have its 5% back on grocery & warehouses extended for the next two quarters. Just in time for the Costco-Visa transition, and just in time for me cause my membership expired. Gonna go with my friend who has a membership to buy $1500 of Costco Cash Cards each of the next two quarters :evil:
 
Lightweight Champion said:
Balance transfers are usually 3-4% on the next card. You're looking at about $60-80 added on the balance just to transfer it. Your interest on $2k won't total that in 2 months.
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not worried about the money part, the interest or the transfer fee I'm fine paying since I know it's inevitable. What I'm worried about is, would my credit score take a hit more from having an interest on my debt or opening up a new card (hard pull). I just don't want anything affecting me in the long term that's gonna be hard to fix.
 
jrp44 said:
What's the best Cashback card to get? Discover it? I have a BP Visa card that was with Chase but got switched over to Synchrony bank, and I have a Sony Rewards card that I never use. I never really save that much on the BP rewards (just $ off gas every few months) was thinking about asking for a CLI for them since it's only at $6k. Just want another card for bonuses...If I get another carday will asking for a CLI be a bad idea for this card? FICOs at a 793
Click to expand...

holla at me :smokin
 
dont be a menace said:
not worried about the money part, the interest or the transfer fee I'm fine paying since I know it's inevitable. What I'm worried about is, would my credit score take a hit more from having an interest on my debt or opening up a new card (hard pull). I just don't want anything affecting me in the long term that's gonna be hard to fix.
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Don't even worry about the utilization credit score drop. Even if you only carry 1k over it won't drop much even if you have the lowest credit line for the sapphire preffered ($5,000). Utilization has no memory so if your cards are maxed out one month and your scores take a dive, the next month if you pay down to 10% util your scores will jump back to where they were in the first place. No long term effects at all. Even opening a new card won't be that long term. Your score will bounce back after a few months
 
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