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

[pdino]

Quote:

Is it possible to increase your credit score in 2-3 weeks?

Credit limit increases is pretty much all you can do in that time period. Do it for all your CCs without getting the inquiry (don't ask for too much)

 

[based mod]

New Chase Sapphire Reserve/Elite Card Will Be A Visa Infinite


A few days ago we shared some details about a new premium Chase Sapphire card that would be coming out, we currently have the following rumored information:

• 100,000 Chase UR point sign up bonus
• Card is expected to launch on August 21st, 2016
• Annual fee of $300-$400
• Card earns 3x Chase UR on travel purchases
• Will be made via bonded metal (e.g same as the Chase Sapphire Preferred)

We now also know that the card will be a Visa Infinite card, this will be a second Visa Infinite card available in the U.S. (City National Bank offers the Crystal Visa Infinite). The Visa website for their infinite cards doesn’t display the benefits for U.S. cardholders, but we can go off what the City National Bank cards show as clear Visa Infinite benefits. They are as follows:

• Visa Infinite Hotel Privileges (Enjoy special benefits from leading hotels, like a VIP welcome and complimentary breakfast at select properties with Relais & Chȃteaux, a prestigious association of approximately 500 luxury properties worldwide.)
• Enjoy privileges, such as special discounts and upgrades, when you use your Crystal Visa Infinite Credit Card to book with Avis, National and Silvercar.
• Visa Infinite Discount Air Benefit (Save $100 on air travel when you use your Visa Infinite Credit Card to book a qualifying U.S. domestic round-trip coach airline itinerary for 2 to 5 travelers through the Visa Infinite Discount Air Benefit website.)
• Visa Infinite Car Rental Privileges (Enjoy privileges, such as special discounts and upgrades, when you use your Visa Infinite Credit Card to book with Avis, National and Silvercar.)
• Visa Infinite Luxury Hotel Collection (Best available rate guarantee, Automatic room upgrade upon arrival, when available, Free in-room Internet, Complimentary continental breakfast, 3PM check-out, when available, VIP Guest status, $25 food or beverage credit)
• Now it’s important to remember that these are only the benefits offered under the Visa Infinite program, Chase will obviously add their own benefits on top of this. I’d expect some sort of lounge access, an airline credit and possibly some sort of additional hotel benefit as well. Chase also doesn’t have to implement all of the above Visa Infinite benefits and there might be others we aren’t aware of, usually card issuers can choose pick and choose some of the

benefits. This is obviously on top of the regular benefits you’d get from having a Visa signature card.

One last point, interestingly enough there is at least one higher tier than Infinite that Visa offers called Infinite Privileged.

http://www.doctorofcredit.com/new-chase-sapphire-reserveelite-card-will-visa-infinite/

 

[jordman23]

http://www.doctorofcredit.com/new-chase-sapphire-reserveelite-card-will-visa-infinite/

^^ Looks good to me. I just closed my chase sapphire preferred before the annual fee. I was able to get the 55K miles and booked some flights for $20 round trip for 2 to South America.


Perfect timing for me, I was already shopping around for a new card. I'm trying also to hit that 800 Mark.

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[hennessy]

Quick question on utilization. I haven't checked my credit score in a while. I have 4 cards. 3 are store cards I got when I graduated college to help get me started with work clothes and apartment needs. I don't use these cards any more and they have a $0 balance:

-J Crew (1250 limit)
-Banana Republic (2200 limit)
-Amazon (1300 limit)

So about a month ago I got my 4th card, which is truly my first CC (12,500) limit. I've been using this for everyday purchases. Got about $3k on my balance right now I plan on paying off in full or should I be keeping a balance? I read in here some of you saying you want to be at 30% utilization and I don't understand why. If I pay off this card in full every month won't my score go up more than if I keep a balance?

 

[capital sb]

Pay it off in full after the statement cuts. The point difference from leaving less than 10% utilization is minimal.

 

[jon4rd]

Let 30% or less report when your statement cuts (10% or less if you need maximum scores) and pay your balance off in full by the due date. No need to let a balance sit on your cards month to month unless you're taking advantage of 0% apr or something

 

[thadangerousmind]

^^ Looks good to me. I just closed my chase sapphire preferred before the annual fee. I was able to get the 55K miles and booked some flights for $20 round trip for 2 to South America.


Perfect timing for me, I was already shopping around for a new card. I'm trying also to hit that 800 Mark.

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That dip almost gave me a panic attack.

 

[slighted]

^ I saw that dip and felt bad for the homie @Jordman23 --

But then that 100 point jump --

 

[jordman23]

^ I saw that dip and felt bad for the homie @Jordman23
--

But then that 100 point jump --

Yea Trust me, I was heated when that happened.

^^ If you guys remember a while back I had an issue with Chase Bank. They reported me because of a Credit Card transaction that I disputed. I immediately called them up and had to talk to like 5 different people and waited like 3 weeks. I couldn't believe they reported me for a $60 something transaction. That's why I stick with Bank Of America, they always rule in my favor and never report you whether you win or lose.

 

[based mod]

I've had a handful of fraudulent charges through all the major CC providers, but I've never had a problem disputing a charge. A simple "hey this ain't mine" and the charge would be taken off in the next few days.

 

[chief rocka]

I have no clue why I'm showing a derogatory on my credit score.

it shows up on both MyFICO and capital one credit tracker.

it might be from when i helped my dad get a lease on his place a few years back and i think he might've skipped out on paying some fees.

any way to find out exactly what happened and can i get it taken off my credit report to boost my score back up?

currently at 653, highest I've been with the derogatory on my report was 726.

 

[cs02132]

Does it matter if I make multiple small payments vs 1 payment in full ? I always do a bunch throughout the month but if it's better not to I'll stop

 

[jjs]

Does it matter if I make multiple small payments vs 1 payment in full ? I always do a bunch throughout the month but if it's better not to I'll stop

as long as you pay off the balance before the due date, it doesn't matter if you make multiple payments or one big payment.

 

[jdubb1914]

For anyone that is asking what sites you should use to get your free credit score, here is a great article explaining 5 sites that you can use.

 

[Brownstone]

Just got approved again for my 3x credit increase through Amex.

They bouncing back after being stingy my first year with them

 

[cs02132]

Finally started using my discover card. Been taking advantage of that 5% on Amazon

 

[Bert.]

Just got approved again for my 3x credit increase through Amex.

They bouncing back after being stingy my first year with them

The everyday card I assume?

 

[Brownstone]

The everyday card I assume?

Yes.

 

[simba king]

Just hit the 3month mark with Discover, was about to request that CLI like recommended in here, and today got a message about a $500 increase.

I was going to request a CLI on my own to get stacks :/

 

[joe rogan]

Asked for a CLI 3 months into my Discover history. Went from 500$ to 4000$. CS sitting at 728

Discover IT card is my first CC. I can def see how people get in trouble with CC's 

Kept the statement balance below 5%. A lot of good tips here. Props

 

[cruzzz]

Forgive my ignorance, my current FICO score is 701 and I was planning on applying for Chase Freedom. With this being my first Credit Card other than a retail store,  I'm wondering what are my chances of being accepted or declined?

 

[SneakerProSr.]

Forgive my ignorance, my current FICO score is 701 and I was planning on applying for Chase Freedom. With this being my first Credit Card other than a retail store,  I'm wondering what are my chances of being accepted or declined?

You'll be good but probably a low credit limit.

 

[cruzzz]

 

Forgive my ignorance, my current FICO score is 701 and I was planning on applying for Chase Freedom. With this being my first Credit Card other than a retail store,  I'm wondering what are my chances of being accepted or declined?

You'll be good but probably a low credit limit.

thanks that shouldn't be a problem.

 

[651akathepaul]

Forgive my ignorance, my current FICO score is 701 and I was planning on applying for Chase Freedom. With this being my first Credit Card other than a retail store,  I'm wondering what are my chances of being accepted or declined?

Your score is just fine. So long as you have good income, you will get approved.

 

[Bert.]

Anyone want a discover