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

[superb]

how did i answer the questions wrong when i dont have a loan or auto loan? it specifically said, you may have an open auto loan opened September 2013. forgot the day for the other loan and it had a list of 4 bank branches and of course none of the above.

i didnt answer them wrong since i have not opened any loans or heard of any of the branches.

it always acceptmy answers. You sure you dont  have any loans or cosigned for somebody?

 

[Bert.]

Ive got something from an old medical bill when i was 18, stupid insurance company screwed me. Doctor kept sending the bill and everytime we called the Insurance company they would say its been paid. I think after 6+ months it finally got paid after all the phone calls we made what not.


Its the only neg i have on my credit, i looked it up and supposedly i think its supposed to fall off in 2015.

If you dispute it since it already have been paid, the medical company might not even bothering screwing with it and it will get deleted

As part of the Hippa Act they weren't suppose to put medical on your credit at all, all you have to do is right the credit bureau's and contest it and if they don't reply within 30 days it gets removed

Yes they can

i have another issue, ive never been able to view my equifax. to verify its showing i have loans (which i dont) and have to click which bank its with and the loan amount. When i click none of the above for all it says it cannot verify and i gotta mail a request in.


So now, i gotta fill out some papers and request by mail and im scared as hell maybe someone opened some stuff under my name.

Means you answered the questions wrong

how did i answer the questions wrong when i dont have a loan or auto loan? it specifically said, you may have an open auto loan opened September 2013. forgot the day for the other loan and it had a list of 4 bank branches and of course none of the above.

i didnt answer them wrong since i have not opened any loans or heard of any of the branches.

Same thing happened to me with equifax. Said I had a mortgage or something. Ended up mailing in a request. Nothing looked out of the ordinary on the report

Yea, most likely some kind of mistake because i havent had any issues or flags with anything else just since forever i havent been able to view equifax.

 

[Bert.]

how did i answer the questions wrong when i dont have a loan or auto loan? it specifically said, you may have an open auto loan opened September 2013. forgot the day for the other loan and it had a list of 4 bank branches and of course none of the above.


i didnt answer them wrong since i have not opened any loans or heard of any of the branches.

it always acceptmy answers. You sure you dont  have any loans or cosigned for somebody?

well if you can answer them then of course it will accept it

how can i answer a question that doesnt apply to me. i have never signed, agreed, or done any kind of loan for myself or anyone especially with any of the branches that arent even in my state

Im gonna send it a request will all the copies but im thinking its nothing but you never know

 

[thinkinfresh]

I had awful credit (640ish) and moved up +140 points in 5 months last year
I now check my accts almost daily and my Credit Scores weekly
You just got to come to terms with the fact that your finacial history is bad and stop being in denial
I was'nt able to verify my equifax either online and had to send in that paper work... took less than a month for a report to come in which helped me plan my attack
I was then able to view and print the other 2 reports when I was ready (I requested 1 every 2 months after)
being shook about sending out your info isnt going to get you where you need to go
only way its going to change is if you actually put in that work

 

[Bert.]

If you are referring to me, im not shook about sending in my info

im said im doing it just to make 100% sure.

 

[Jordan8]

640 is far from awful

 

[Bert.]

its not good either

 

[urbetterthenme]

EXACTLY

spending money with no money?

yea, shes def gonna ruin her credit. get a job first and save money before you go and open a credit card.

She could get a secured credit card to start building her credit.

She wouldnt be able to get a regular credit card unless she had a co signer

 

[urbetterthenme]

If you have your own credit card, add her as a co-applicant, or an authorized user, if you trust her being on your account.
It WILL report on her credit report, and basically help her get on her feet.
Or she could try to get a secured credit card, would have to put a deposit down, but it will def help in the long run.

Did you even read wat dude said?

 

[urbetterthenme]

its not good either

actually its decent.

 

[flyny]

How do I get a credit card with a high limit?
As of now my credit score is 710
I have a cap 1 card with a $750 limit ($100 balance )
That's about it
How can I get a good card with a limit of AT LEAST $1,000

 

[urbetterthenme]

How do I get a credit card with a high limit?
As of now my credit score is 710
I have a cap 1 card with a $750 limit ($100 balance

)
That's about it
How can I get a good card with a limit of AT LEAST $1,000

Depends on your credit history(how long have you held the 750 limit card or any credit card?)

Also your income level.I got 2 1200 limit cards on a retail salary while in college

 

[friscostylez]

How do I get a credit card with a high limit?
As of now my credit score is 710
I have a cap 1 card with a $750 limit ($100 balance )
That's about it
How can I get a good card with a limit of AT LEAST $1,000

Maybe you should apply to a new CC or ask for a credit increase.

 

[imsofly4110]

Yea, it's decent. Your only 50 points from having "A Tier" credit, a couple revolving lines of credit or a couple more on time payments and your in the 7's. Revolving lines and with a decent sized max limit like 5-10k will def get you up there and you won't have any problems purchasing a home or a new car as long as your gross monthly meets the minimum criteria

 

[imsofly4110]

Don't to put yourself self in a situation to where your DTI debt to income ratio is out of whack, it doesn't matter if your making on time payments or not when that happens... Major purchases like a home is based on that and your PTI payment to income ratio. If your just purchasing something like a car then anything over a 700 and you can really put whatever number you want for gross monthly because the lender isn't going to require proof of income. Just sharing a little bit because if your young and mess your credit up it follows you for life typically

 

[Bert.]

Yea i havent heard of too many people being asked for proof of income honestly.

i just wanna get 750 and im good.

i think within the next 2 years i should be there

 

[oidreez]

How do I get a credit card with a high limit?
As of now my credit score is 710
I have a cap 1 card with a $750 limit ($100 balance )
That's about it
How can I get a good card with a limit of AT LEAST $1,000

My cap one started at $500 and it gave automatic limit increases after some time (i forgot how long). Im currently at $3000

 

[friscostylez]

In a span of a year, my first CC cap was $1000 then within a few months I applied to a new CC which gave me a $1700 limit and during that spab I asked for a couple increase which they increased it to $3000 and $6000. Then most recently I applied to another CC which initially gave me $7500 but I asked for increase right away and they increased it to $9500. im planning on asking for another increase soon

 

[imsofly4110]

Zyzz you really peak in the 690's to low 710, after that your score becomes harder to build on. I was initially a finance major for 2 years before I knew it wasn't going to be a career. Numbers just always made sense to me. But I've seen a lot of credit bureaus, I've seen people with 50-100k cc's paid on time, car note always paid on time on multiple cars and 10 years at their residence with out ever going late that were 740's... I use to have a class where we'd look at reports and try and figure a score based on the report.. 700 is a realistic goal but I don't think 750's obtainable until your established for a decade or so. It's like a 400's a lay up, a 500s a free throw a 600s a trey a 700s a half court shot so on and so fourth! But best of luck building your credit! A couple slow pays or a charged off account can drop you hundreds of points in a night, what took years to build can be ruined a lot quicker. Never co-sign for anyone, family members etc. they're the quickest ones to burn you because most the time you won't came after them in a harmful manor, so they don't take it seriously. Most people don't appreciate blessings now, general principles 101.

 

[Bert.]

trust me, i aint signing a damn thing for anyone

 

[biggie62]

I had a 750 by the time I was 21 so I don't believe all of that. But what I had done for me was my mom put me on a joint credit card with her where she made a lot of purchases around the time I hit 18. This is where she asked me to use my card. By the time I finished undergrad I was around the same and only dropped a bit because of the student loans. I was at 806 when I last checked last summer. Just purchase within your limit of what you can pay off. I've yet to pay interest on any of my cards. And I've had my own since I was 22. But I literally pay with my card for everything instead of cash. I get cashback and I might as well get a slight discount than pay the same price with cash.

 

[friscostylez]

^^i kinda dont believe the above either. I couldn't get a CC until like jan 2013 and now my credit score is 753. I use my CC for everything and also have student loans. I know a good amount of people around 23-27 with credit scores better than mines, too.

 

[superb]

Tips..

You can can purchase piggyback accountability they cost like 1k which means people will add you as co applicant on their credit card. So if they got a 10 year history you will too


Tip...
Buy used cars from car lots.. it can be a junk 2k car and make sure they report to your credit. This will boost our score up to 100 points

Sell the car when your done paying it off

 

[triple homicide]

I wouldn't advise anyone to go into credit card debt. Especially for the reasons many people want credit cards. If you don't have the cash to pay for it, you should think twice.

Credit and debt is a trap to keep you shackled to indentured & lifestyle servitude.

 

[imsofly4110]

^^ I agree but it's a game, bad credits better then no credit!! Finance a 2 grand car??? First off a 2 grand car more then likely isn't gonna be financeable because of the year and mileage, 2nd the place who will finance a 2 grand car is gonna charge you. 25-30% interest depending on where you live.. Average gross profit on a car deal is 3500 plus, banks and dealers would rather run a 2 grand impala to the auction and get cashed out, take your 5-10k car and borrow a smaller amount against the title and build your credit if you don't wanna take the cc route