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

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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Utilization has no memory. It is updated every month and has no idea what your utilization was the month prior.

Once your card is paid back down to <30% your score will go back up. 

You also didn't state what your CC limit is to let you know how much the balance will affect you score. Also would need to know how many cards you have and those balances as well.

Just pay it off in 2 month. Makes no sense to open up a new card, pay a 3% BT fee just because you have a 1K balance on a card that you will be paying off in 2 months.

The hard pull will affect your score for 1 year.
 
jon4rd said:
I see no correlation between that and the picture you posted or the caption :lol:
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Inbox me if you need

Money Market Savings.......guess you automatically qualify for a card.

Just proof that credit isn't a big deal if you got money it is but it isn't.

Guy I dealt with today told me this himself. Off record.....you could say.
 
Based Mod said:
50k with $3k spend in 3 months. Did you get it for $350 af too?
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Yeah, supposedly its only for citigold customers but dude told me he'll put it through and see what happens. I ended up getting a citigold account later on. You get a 15% points bonus every year on the spend you put on you prestige card. You also get points for doing the things in the pic below.

View media item 2072454
 
nthat.gif
 doin' it. 
 
Dam itz Lou said:
Based Mod said:
50k with $3k spend in 3 months. Did you get it for $350 af too?
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Yeah, supposedly its only for citigold customers but dude told me he'll put it through and see what happens. I ended up getting a citigold account later on. You get a 15% points bonus every year on the spend you put on you prestige card. You also get points for doing the things in the pic below.
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Damn I missed out on 10k points then.

I'm not getting Citigold cause I ain't got it like that :lol:

You had 140k TYP on deck though? :x Have fun breh. 10 hour flight in first class will be worth it.

Have you taken advantage of the other perks? Admirals lounge, 4th night hotel free, Global Entry app, etc.?
 
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Based Mod said:
Damn I missed out on 10k points then.

I'm not getting Citigold cause I ain't got it like that :lol:

You had 140k TYP on deck though? :x Have fun breh. 10 hour flight in first class will be worth it.

Have you taken advantage of the other perks? Admirals lounge, 4th night hotel free, Global Entry app, etc.?
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I had almost 700k. I used 280k for my girl and I.

I dont have the $50K cash to waive the $30 citigold fee but I rack up a ton of charges on my prestige card because of work. I earned 22K points because of the 15% bonus last year. You can do those easy things like open a savings account,transfer money into your savings account once a month, make 1 bill payment once a month, that would get you almost 1K points. If you use your points strictly for AA flights, they give you 1.6 cents per point so thats almost $16. It helps with the monthly fee. Other than that, I hate paying that $30 fee. I'm use to my bank account being free.

You get 1.6 cents per point with AA and 1.25 with any other airline.

Another thing, when you use your points for flights, the airline treats it as a paid ticket. Thats why it looks like I paid for the ticket above. The great thing about that is now you're able to earn miles from the airlines. I would of earned almost 40K miles with the old program when it was based on miles flown. :smh:

I used the 4th night free perk twice last year. We went to Barcelona in May and I used it there, that 1 stay already covered my annual fee. I'm going to use it again in Hawaii.

Admirals lounge access is supposedly only when you're flying AA. I fly AA 95% of the time since I have status with them. It's a great perk so you dont have to waste money at the overpriced food at the airport and you're a lot more comfortable. You also get the priority plus card which gives you access to lounges worldwide.

I would definitely do global entry, which also gets you TSA precheck. The line at JFK when we were heading to Spain was easily over a block long while precheck was empty. When we got back, we went through customs in less than 5 minutes because of global entry.

You also get 3 free rounds of golf which I hear can be expensive. The $250 air credit can be used for anything airline related. The air credit is every calendar year, so jan 1 you'll get another $250. If you dont like the card for whatever reason, use the $250 next year before cancelling it. I read you can use it to get gift cards directly from the airlines.

It's by far the best card in the biz IMO. It's so easy getting the value out of this card. If you travel just once or twice a year you can easily cover the annual fee, but the annual fee is what scares people away.
 
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Based Mod said:
700k :x

Thanks for the write-up. Looking forward to doing a lot more travel now.
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I forgot to mention, the fourth night perk pays for the actual rate of the fourth night of your stay. Hotels usually charge more for fri-sat so you'd save some money when those days are your fourth night or a holiday. Let's say you stay at a hotel that's offering a 4th night free promotion then you will get $0. Now let's say a hotel is offering a 3rd night free. They will usually raise the rates of the other nights which is better for you since Citi is going to pay whatever the 4th night cost. Here's a story of someone who pulled it off.

http://thepointsguy.com/2015/08/citi-prestige-success-story/

Also, follow the flight deal on FB. They post great deals on flights. They posted NYC to Paris earlier for $500 in the middle of September. It would only cost about 30K round trip with thank you points.
 
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So I just got the discover IT card but I like my BOFA rewards better (3% on gas 2% on groceries 1% on everything else) so I'm wondering, can I use my bofa card, pay it off with my discover card, then pay the discover card with my bank (like normal) ? I usually spend about $400-500/month. That way I'll get the benefits from both cards
 
cs02132 said:
So I just got the discover IT card but I like my BOFA rewards better (3% on gas 2% on groceries 1% on everything else) so I'm wondering, can I use my bofa card, pay it off with my discover card, then pay the discover card with my bank (like normal) ? I usually spend about $400-500/month. That way I'll get the benefits from both cards
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You won't get points on balance transfers.
 
Just use the BofA card for gas and groceries then discover for everything else. You can only pay credit card bills with bank accounts or checks as far as I know. So you can't pay a credit card with another card unless you do a balance transfer.
 
Fambs, back when I was 21 I opened a credit card with BOA. Hit the max on it really quick, and stopped paying the minimum. Young and stupid, I know. When I would log into my account online, the balance for the credit card disappeared. I guess they got tired of waiting for payment. I'm 25 now, and want to build my credit. I applied for a gas card here recently and they told me no because of unpaid balance from when I was 21. Can I still fix this?
 
AdobeCS4 said:
Fambs, back when I was 21 I opened a credit card with BOA. Hit the max on it really quick, and stopped paying the minimum. Young and stupid, I know. When I would log into my account online, the balance for the credit card disappeared. I guess they got tired of waiting for payment. I'm 25 now, and want to build my credit. I applied for a gas card here recently and they told me no because of unpaid balance from when I was 21. Can I still fix this?
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Pull your credit report from https://www.annualcreditreport.com/index.action

Find out who owns the account, call em up, and work something out. Ask if they would delete it if you paid it off. GET IT IN WRITING IF THEY AGREE.
 
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