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

[murkn3m]

If you plan on paying it off every month then the chase makes no sense if you're doing it just for the 0% APR unless you plan on keeping a balance.

 

[gil23]

If you plan on paying it off every month then the chase makes no sense if you're doing it just for the 0% APR unless you plan on keeping a balance.

also

depending on your CL you putting that amount and not paying in full before statement closes could hurt your credit for high usage

 

[capital sb]

I currently have amex everyday, cap 1 (1.5) , and chase. The only reason i'm leaning chase is there is 0% apr for 12 months. My rent is 1400 

In this situation promotional apr shouldn't matter. If you are going to pay your rent with a CC you need to pay the balance in full before your statement cuts to avoid interest. If you aren't planning to pay in full every month before statement cut date I wouldn't even mess with paying your rent with a CC. You don't want to get into that habit and start getting yourself in trouble by not paying off in full.

 

[Tony $now]

On my one first cards from years ago, I'm getting hit with interest right now. I'm definitely about to pay the balance off in full, and just have my 24 hour fitness come out of that account, instead of just closing it. It was one of the cards I used to rebuild my credit a few years ago

 

[sunshineblotters]

I have the option to pay rent with my card, but there is a 10$ fee. Is it worth it? Rewards aside, is it going to increase my score at all?

Sunshine avy info please 

Ashley Sky

 

[crcballer55]

yeah I think someone should start a petition for bills to be added on credit reports

I think the credit bureaus are moving in that direction, although VERY slowly. There are manual underwriting companies that will accept an alternative credit history though for those with no borrowing history where you can submit your payment history for bills to count towards a loan.

IMO, this is what most people think the credit scoring is and what it should actually be. Instead, it's a system set up by the debt companies to get you to utilize more debt to prove that you can take on more debt.

 

[a-friend]

It costs money for agencies, companies and banks to report your pay history to the beauraus, which is why Bills aren't reported.

Only way to get bills reported is to not pay them.

Side note: That's a very interesting tidbit in the last part of your post crcballer55 . Sad but true

 

[oidreez]

The american express website now shows you your fico score

 

[vtotheinay]

just got approved for the Amex everyday blue card

Now I've got Chase freedom, discover IT and the Amex blue.
chase- $500
discover- $1500
amex- $1000 (lady said to call when the card comes in 2 days and request an immediate CLI though)

Gonna do the app for the citibank double cash cards and won't apply for any cards for a while. Everyone on myfico forums told me to get 4 cards now while my AAoA is still young and while I'm in college so that I will have a strong age later on. Plus if I get the citi card I'll have a free fico 8 score from all 3 major bureaus. Discover gives transunion, amex does experian and citi does equifax

 

[Brownstone]

I'm sorry, maybe it's just me but chase's online and app experience is terrible.

 

[sunshineblotters]

Yeah I need to get two more cards.

So far I traded in my Quicksilver for a Ventureone Card (mileage, no foreign transaction fees, no yearly fees)
I'll get the Discover IT card in DEC. (fico score, great cashback offers, no yearly fees)

I still need to do research on what else is out there. As for rewards I dont think there is anything else I really care for.

I know I want the Chase Sapphire but at almost $100 a year. I'll likely wait until I am further in my career for that. Especially if I can get a large accounting firm job. Then I can charge all business expenses to my card and get paid back soon after.

 

[polosanddunks]

I'm sorry, maybe it's just me but chase's online and app experience is terrible.

I said the same thing to someone else the other day. I am NEVER getting another Chase CC and it was a headache even getting this CLI from 5k to 8K after I had it for 2 years.. Discover, AMEX, CapOne all have better experiences and customer service too.

 

[gil23]

just got approved for the Amex everyday blue card

Now I've got Chase freedom, discover IT and the Amex blue.
chase- $500
discover- $1500
amex- $1000 (lady said to call when the card comes in 2 days and request an immediate CLI though)

Gonna do the app for the citibank double cash cards and won't apply for any cards for a while. Everyone on myfico forums told me to get 4 cards now while my AAoA is still young and while I'm in college so that I will have a strong age later on. Plus if I get the citi card I'll have a free fico 8 score from all 3 major bureaus. Discover gives transunion, amex does experian and citi does equifax

crazy i remember applying for the discover it the same time as you and only getting approved for 1000....just got my Blue Cash Preferred but i was approved for 2000 crazy how these companies work

 

[hugheyfreeman]

Well I need some advice you guys. I'm looking in to possibly hiring Lexington law firm into repairing my credit. Their about 100 bucks a month and my cousin using them for a while and said they were great. My credit score is really low,and I'm looking to repair it in case for future needs ( house , car ,loan, etc). What would you guys do? If you guys would do something different,let me know different alternatives that way I can make a great decision.

 

[vtotheinay]

crazy i remember applying for the discover it the same time as you and only getting approved for 1000....just got my Blue Cash Preferred but i was approved for 2000 crazy how these companies work

probably cause you got the preferred blue. i got the everyday. I didn't wanna get a card with an annual fee especially for a longterm card. I was preapproved for the preferred but opted with the everyday. congrats on getting approved though! also the new signup bonus on the everyday was a better % imo. $150 for $500 rather than $250 for $1000 spent in the first 3 months

 

[polosanddunks]

Well I need some advice you guys. I'm looking in to possibly hiring Lexington law firm into repairing my credit. Their about 100 bucks a month and my cousin using them for a while and said they were great. My credit score is really low,and I'm looking to repair it in case for future needs ( house , car ,loan, etc). What would you guys do? If you guys would do something different,let me know different alternatives that way I can make a great decision.

You can pretty much do it yourself but a lot of people don't got the time and schedule to do it or are just lazy. I know 2 people who used them for a year because they felt their scores were low and then when they got to a legitimate number they wanted then cut them off

its kind of a sham at $100 a month because you can do it yourself but who knows. Make sure you go check out those myfico boards too

 

[gil23]

probably cause you got the preferred blue. i got the everyday. I didn't wanna get a card with an annual fee especially for a longterm card. I was preapproved for the preferred but opted with the everyday. congrats on getting approved though! also the new signup bonus on the everyday was a better % imo. $150 for $500 rather than $250 for $1000 spent in the first 3 months

Yeah I wasn't too fond of the annual fee but with the groceries at 6% cash back instead of 3% and gas also at 3% I figured I can easily make the $75 back and a lot more. $1000 in three months it's nothing unlike the chase sapphire preferred which is $4000 :x but then again that's a 5k limit card to start with . I'll see how it goes in the next 12 months. Grats on the approval

 

[capital sb]

Well I need some advice you guys. I'm looking in to possibly hiring Lexington law firm into repairing my credit. Their about 100 bucks a month and my cousin using them for a while and said they were great. My credit score is really low,and I'm looking to repair it in case for future needs ( house , car ,loan, etc). What would you guys do? If you guys would do something different,let me know different alternatives that way I can make a great decision.

All they are going to do is dispute every negative item. You can do that yourself for free, but if you aren't willing to do it yourself then go ahead and pay them.

 

 

[hugheyfreeman]

All they are going to do is dispute every negative item. You can do that yourself for free, but if you aren't willing to do it yourself then go ahead and pay them.


 

Yea, but I don't know pretty much where to from on how to do it myself. I was never taught about this type of stuff you feel. All by know is that I'm 20 and I'm might it for the future cause it's pretty low right now.

 

[capital sb]

Yea, but I don't know pretty much where to from on how to do it myself. I was never taught about this type of stuff you feel. All by know is that I'm 20 and I'm might it for the future cause it's pretty low right now.

I was never taught a single thing about credit either, but the internet is full of free information so I taught myself.

Like I said if you are interested in saving yourself $1000 , I can point you in the right direction. If not you can pay them to do it for you.

First step is to find out what is even on your report. To do that for free sign up for Credit Karma, the give you free credit reports.

 

[jon4rd]

Yea, but I don't know pretty much where to from on how to do it myself. I was never taught about this type of stuff you feel. All by know is that I'm 20 and I'm might it for the future cause it's pretty low right now.

What?

 

[slicknick951]

Let him pay the 100 dollars a month. People who works at that credit card place needs to feed they kids. Stimulate the economy

 

[junglejim]

kind of a dumb question here, but i am planning on booking a bit of travel in the next 12 months and was wondering if you can basically pay off travel reward cards with other travel reward cards?  Basically I am going to spend about $5-$6K on travel in the next year and was wondering if I could get the 40,000 mile bonus on pretty much all of the cashback rewards cards if I just payoff the balance with one credit card and eventually payoff with cash in my bank account.

 

[capital sb]

Let him pay the 100 dollars a month. People who works at that credit card place needs to feed they kids. Stimulate the economy

Lol I really want to open up a financial/credit improvement company in the future. Seems very lucrative.

 
kind of a dumb question here, but i am planning on booking a bit of travel in the next 12 months and was wondering if you can basically pay off travel reward cards with other travel reward cards?  Basically I am going to spend about $5-$6K on travel in the next year and was wondering if I could get the 40,000 mile bonus on pretty much all of the cashback rewards cards if I just payoff the balance with one credit card and eventually payoff with cash in my bank account.

I think what you are referring to is a form of credit churning. Maybe @dakid23  can chime in.

 

[slicknick951]

Let him pay the 100 dollars a month. People who works at that credit card place needs to feed they kids. Stimulate the economy

Lol I really want to open up a financial/credit improvement company in the future. Seems very lucrative.

 
kind of a dumb question here, but i am planning on booking a bit of travel in the next 12 months and was wondering if you can basically pay off travel reward cards with other travel reward cards?  Basically I am going to spend about $5-$6K on travel in the next year and was wondering if I could get the 40,000 mile bonus on pretty much all of the cashback rewards cards if I just payoff the balance with one credit card and eventually payoff with cash in my bank account.

I think what you are referring to is a form of credit churning. Maybe @dakid23
 can chime in.

My parents mortgage broker started doing this during the real estate crash and is doing very well right now. People pay for convenience so anyway u can makes someones life easier there is a market for it.