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

[python]

Okay,

So any idea on a good card or who to go to? Def won't be BofA now...

Get a gold st capital phantom card

 

[losalmighty]

 

How can I find out why my credit score dropped? I was checking in on Credit Karma and saw it dropped by a lot. Went from Good to Fair. I am on time with ALL of my payments so much so that my payment history is an A. The only thing that is a C is my credit history of which I've had for just under six years total.

sign up for freecredit report dot com. free for a month and then 20 after, but if you tell them you want to drop it they will let you keep it for like 6 a month.

uhh. definitely stay away from them!

You won't get your score, but you can find what is reported to each of the credit bureaus at annualcreditreport.com. I think it's $7 each to get your score, but otherwise, it's free to get your report once a year.

i get my score from the app and website. ::shrug::

 

[heliumclinton]

Need a way to get a delinquency off my account

 

[rell826]

are your credit cards maxxed out?

my score from credit karma dropped 24 points because i transferred balances from my 2 old cards to a new one. The new card has 0% APR until April 2015..but i was over 50% of the credit line after the transfer.

Nowhere near maxed out nor have I done any balance transfers. The only thing that changed was that Sallie Mae has my loan under Navient now.

 

[capital sb]

You want real FICO scores get them from myfico.com

 

[trynafeelmink]

Positively. The higher your credit limit the better. You want to have less than 30% utilization on each credit card and less than 10% credit utilization total on all cards combined.

For example, you have 3 CCs.
5K limit (Max balance 1500)
3K limit (Max balance 900)
2K limit (Max malance 600)
10K total utilization (Max total utilization 3000)

So at any time to maximize your score you should never carry more than the suggested balances.

You can learn more about how credit scores are effected here http://www.myfico.com/CreditEducation/WhatsInYourScore.aspx

View media item 1137567When you you want a credit limit increase make sure you tell them do a SOFT pull to avoid the score hit.

Great post

 

[trynafeelmink]

I've had this card (Capital One) for about 6 months now but the limit is trash, all in all i've been pretty on point as far as payments and my current credit score is at 720... However something that's holding me back seems to be 4 credit inquiries in the past four years (Things such as a store card, & ****** cable company). So would it be wise to try and attempt another card with a higher limit?

i wanna start paying my small bills with just my CC but at a $500 limit i'm afraid that it will effect my utilization rate a lil too much.

 

[oidreez]

I've had this card (Capital One) for about 6 months now but the limit is trash, all in all i've been pretty on point as far as payments and my current credit score is at 720... However something that's holding me back seems to be 4 credit inquiries in the past four years (Things such as a store card, & ****** cable company). So would it be wise to try and attempt another card with a higher limit?

i wanna start paying my small bills with just my CC but at a $500 limit i'm afraid that it will effect my utilization rate a lil too much.

With time you'll get auto limit increases so you just have to wait and maybe use the card for one recurring bill. If you have the mobile app for caiptal one, you can see the breakdown of what is affecting your score. My limit on the card is $3000 now and I still only use it for one recurring $50 bill.

 

[antidope]

I just applied for a limit increase on my first credit card and much to my surprise I got it. It wasnt much though, but I'm in the same boat as Ty, I just want to use it to pay for small purchases that I would typically use my debit card for which really isnt the way to go. I've been putting off applying for Chase Freedom for too long

 

[trynafeelmink]

With time you'll get auto limit increases so you just have to wait and maybe use the card for one recurring bill. If you have the mobile app for caiptal one, you can see the breakdown of what is affecting your score. My limit on the card is $3000 now and I still only use it for one recurring $50 bill.

Yea i already got an auto upgrade from 300 to 500 recently but i was wondering if any cards start with around a 1000 preferably a rewards card or something of that sort. Only problem is i don't really wanna add another inquiry seeing that mine is already on the high end

 

[superb]

Inquires don't hurt much and they each inquire comes off in 2 years

Inquires only hurt like 1 point or 2 and the older they ge the points come back

 

[superb]

I've had this card (Capital One) for about 6 months now but the limit is trash, all in all i've been pretty on point as far as payments and my current credit score is at 720... However something that's holding me back seems to be 4 credit inquiries in the past four years (Things such as a store card, & ****** cable company). So would it be wise to try and attempt another card with a higher limit?

i wanna start paying my small bills with just my CC but at a $500 limit i'm afraid that it will effect my utilization rate a lil too much.

You can't have 4 inquiries in past 4 years in your report.

Inquires drop off in 24 months. So if you had a inquiry today in 24 months it will drop off credit .

 

[Bert.]

I've had this card (Capital One) for about 6 months now but the limit is trash, all in all i've been pretty on point as far as payments and my current credit score is at 720... However something that's holding me back seems to be 4 credit inquiries in the past four years (Things such as a store card, & ****** cable company). So would it be wise to try and attempt another card with a higher limit?

i wanna start paying my small bills with just my CC but at a $500 limit i'm afraid that it will effect my utilization rate a lil too much.

you will get a increase soon. some companies depending on how much money you spend, will give a credit limit increase withing 6-12 months. a lot of my cards ive gotta a increase in 6-7 months. it wasnt much but yea

and i dont think a credit inquiry will kill you. you have done 4 in 4 years? i did 5 in 1 year and my credit score was recently 710. I just sign a car loan for my mother after working on my credit for about almost 2 years and got approved. i have ZERO credit before that.

of course after the loan my score took a hit. you can apply for a new card right now, it wont affect you IMO

 

[suberzat1]

Not sure if this is the place but I have $1300 left on my car loan would it be better to trade my car in as is or playoff my loan? And how will this effect my credit score?

 

[crcballer55]

Not sure if this is the place but I have $1300 left on my car loan would it be better to trade my car in as is or playoff my loan? And how will this effect my credit score?

Payoff the loan. With any tradein, the dealership will build in a margin for themselves so they can sell it for market value.

 

[nazdrowie]

i get free fico scores on my barclaycard account 

although i would never encourage anyone to open anything with them 

 

[superb]

 
i get free fico scores on my barclaycard account 

although i would never encourage anyone to open anything with them 

yea I was just going to say, a lot credit card companies and banks will give you your fico for free.. but the thing it is usually only for equifax transunion or experian not all 3

You can have a 700 score with experian but have a 600 score with another

 

[nazdrowie]

 
yea I was just going to say, a lot credit card companies and banks will give you your fico for free.. but the thing it is usually only for equifax transunion or experian not all 3

You can have a 700 score with experian but have a 600 score with another

yea mine is only through TU (i think...)

 

[capital sb]

If you are looking for high limit credit card Navy Federal Cash Rewards Signature Visa 1.5% cash back its pretty good.

 

[heliumclinton]

i get free fico scores on my barclaycard account 

although i would never encourage anyone to open anything with them 

Dawg

Applied with them to get a second iMac, froze my account and ask me to prove my identity, sent it twice, that was 8 months ago btw and it shows up on my credit report

A card I have no access to :x

Reported them to BBB and their response was "please send in these documents .."

 

[nazdrowie]

Dawg

Applied with them to get a second iMac, froze my account and ask me to prove my identity, sent it twice, that was 8 months ago btw and it shows up on my credit report

A card I have no access to

Reported them to BBB and their response was "please send in these documents .."

i opened up mine with Apple too, 22.5% APR...

 

 

[Bert.]

i get free fico scores on my barclaycard account 

although i would never encourage anyone to open anything with them 

why whats wrong with em? this isnt the first time ive heard negative things but no one goes into detail

 

[willie mcfly22]

I get somthing in the mail at least once a week from the Barclay card. Rip that joint right up. Not sure why they bad tho

 

[heliumclinton]

i get free fico scores on my barclaycard account 

although i would never encourage anyone to open anything with them 

why whats wrong with em? this isnt the first time ive heard negative things but no one goes into detail

I wrote my experience two post up

 

[nrg1604]

Meh, I have a barclay and every time I make a large purchase or an in-person purchase in a whole other time zone, it usually gets put on hold and my account is lock until I call them to verify that it's me. It might waste a few min out of my day but at least I know if it ever gets stolen, good chance their fraud protection will lock my account and prevent thief from using it.