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

anyone know if the cards let you know when you're interest free period is up? I got a discover IT card and have had it for a year now but I forgot how long the 0% APR period is for. Not too worried since I usually pay off 90-100% of my bills every month.

I get their free credit report, I'm guessing it's from Transunion according to the post above mine? Just wondering why it changes every month, it keeps jumping up and down after each statement from 759 down to 732 then to 750. I know I paid 100% of my due bill when the statement came those 3 months.


Also looking at travel rewards cards lately. Specifically this one if anyone else can chime in on this or other cards. I like this one because it has no annual fee and no blackout dates for redeeming the points.
http://www.creditcards.com/credit-cards/bankamericard-travel-rewards-credit-card.php?catid=16
I just realized this is a GREAT way for Discover (or other companies) to encourage people to use their cards more. You get a free credit score, and they make more money off swipe fees and people not paying attention to their interest free periods or can't/don't pay in full. They just gamified the credit system. BRILLIANT!
 
Looked at my credit score and it says i have a 670 credit score. This is my first credit check so im not sure if thats good or bad. My credit history is three months old so im guessing thats pretty avg right?
 
I got denied an Apple card because they said I don't have enough credit cards and credit on those cards.Got to be kidding me. Isn't that good? Lol .My score is good I'm calling the approval department tommorow to reconsider this .
 
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Does anyone have any recommendations for a first credit card? I'm 19 and have had a car note for 2 years paid on time all the time and I got denied once already about two months ago. On the letter they had my score at around 650ish. Any help would be appreciated
 
Does anyone have any recommendations for a first credit card? I'm 19 and have had a car note for 2 years paid on time all the time and I got denied once already about two months ago. On the letter they had my score at around 650ish. Any help would be appreciated
If you wanna go the route I went....
I started with an Amex Green Charge card.

It's a charge card, not a credit card. You can't carry a balance. But it will get your foot in the door with Amex and give you the good credit habit of paying in full. 

After 6 months or a year, go for a real amex credit card. You will be more likely to be approved because you have your foot in the door already. All the cards you go for with amex in the future will be backdated to the year you got your first card (which boosts your age of accounts) and you can request credit limit increases of 3x your limit at 61 days and every 181 days after that without a hard inquiry.
 
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If you wanna go the route I went....

I started with an Amex Green Charge card.
It's a charge card, not a credit card. You can't carry a balance. But it will get your foot in the door with Amex and give you the good credit habit of paying in full. 
After 6 months or a year, go for a real amex credit card. You will be more likely to be approved because you have your foot in the door already. All the cards you go for with amex in the future will be backdated to the year you got your first card (which boosts your age of accounts) and you can request credit limit increases of 3x your limit at 61 days and every 181 days after that without a hard inquiry.
Appreciate the info man.
 
Soooo, I jus applied for a Macy's card. I'm rebuilding my credit at the moment. I filed for bankruptsy 2 years ago. I previously had a Macy's card that went into collections but I paid it. So they sent me the rejection letter stating "previously delinquent with this firm". So can I never get a Macy's card or do I have to jus wait til that negative mark drops off my credit? But then I thought doesn't bankruptsy wipes that off of my credit??
 
Soooo, I jus applied for a Macy's card. I'm rebuilding my credit at the moment. I filed for bankruptsy 2 years ago. I previously had a Macy's card that went into collections but I paid it. So they sent me the rejection letter stating "previously delinquent with this firm". So can I never get a Macy's card or do I have to jus wait til that negative mark drops off my credit? But then I thought doesn't bankruptsy wipes that off of my credit??

Screw Macy's and any other store cards for that matter. Bankruptcy is going to hurt your chances at anything for those 7 years. I'd say wait it out if possible. If you need a card really bad you might have to go the secured route depending on how much history you have
 
Soooo, I jus applied for a Macy's card. I'm rebuilding my credit at the moment. I filed for bankruptsy 2 years ago. I previously had a Macy's card that went into collections but I paid it. So they sent me the rejection letter stating "previously delinquent with this firm". So can I never get a Macy's card or do I have to jus wait til that negative mark drops off my credit? But then I thought doesn't bankruptsy wipes that off of my credit??

Screw Macy's and any other store cards for that matter. Bankruptcy is going to hurt your chances at anything for those 7 years. I'd say wait it out if possible. If you need a card really bad you might have to go the secured route depending on how much history you have
Lol alright thanks for the info. Yea it wasn't a nessessity, even have applied but I frequent there so said screw it...I do have a secured Capitol one card as well...
 
Just moved into my new apartment at the 1st of the month. The Apartment Complex ran my background info and I requested a copy of my report.


My credit score is 774. :smokin:smokin
 
I got denied an Apple card because they said I don't have enough credit cards and credit on those cards. Got to be kidding me. Isn't that good? Lol . My score is good I'm calling the approval department tommorow to reconsider this .

Actually, the more available credit you have with a low spending ratio HELPS your credit. So, lets say you have about 7 cards with a total of $30k in credit you can use, but only use about $3k of it, technically you're looked at as a "low risk" person and credit card companies like that. The lower the utilization, the better it is. I think the magic number in terms of utilization percentage is
 
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Yes @HankScorpio the rule of thumb is to use a max of 10% of total utilization and a max of 30% utilization per card.

I wish I would have never opened up the Gold Premier Rewards card with AMEX. I should have went the CC route with AMeX. Im young so I think I will have to keep this card for atleast 5 years.
 
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@HankScorpio  The chase freedom is actually the one i got denied for. When i called the reconsideration line the guy told me my only asset is my car which is seizable and he needed to see non seizable assets, but my score itself was fine. 
 
@hankscorpio what's the best credit card to get for someone who has excellent credit (high 700s) to be exact, I pay back everything in full every month. Just looking to get a new credit card with a lower apr,
 
@hankscorpio what's the best credit card to get for someone who has excellent credit (high 700s) to be exact, I pay back everything in full every month. Just looking to get a new credit card with a lower apr,
it depends on  where you spend your money, how much you spend and what kinds of rewards you want. \

Best cards for cash back include freedom, discover it, sallie mae, us bank cash+, amex blue cash, and some others

Travel Cards, I would say the chase sapphire preferred, platinum amex or premier rewards gold amex.

Many people would say the freedom and sapphire preferred are the best 1-2 punch you can have in your wallet atm.
 
@hankscorpio what's the best credit card to get for someone who has excellent credit (high 700s) to be exact, I pay back everything in full every month. Just looking to get a new credit card with a lower apr,


I'm in the same boat as you. I have a 750 Score, I signed up for the United Mileage Plus from Chase. They give you 50,000 bonus miles for United Airlines. Then another 5,000 if you add an authorized user and they make a purchase. The catch is you have to spend $2,000 in the first 3 months.

Which is easy if you have the cash, and just use credit cards to get bonuses. ( Like I do)

- So you can redeem the points on United ( or a star alliance member airline)
- You can get 2 Free Roundtrip Domestic Airline Tickets
- Or get a FREE Roundtrip to Europe


I'm going to vacation in the summer to Egypt, so I'll probably end up paying less than $150 for extra miles if I don't make the count by the time I book my flight.
 
Soooo, I jus applied for a Macy's card. I'm rebuilding my credit at the moment. I filed for bankruptsy 2 years ago. I previously had a Macy's card that went into collections but I paid it. So they sent me the rejection letter stating "previously delinquent with this firm". So can I never get a Macy's card or do I have to jus wait til that negative mark drops off my credit? But then I thought doesn't bankruptsy wipes that off of my credit??

Macy blacklisted you
 
dk if its a coincidence, but I was accepted pretty easily for a chase card and I think it's because my parents each have cards with chase with high limits and pay their bills on time. Also, I was added on to my moms about a year before I applied so that probably didn't hurt.
 
@hankscorpio what's the best credit card to get for someone who has excellent credit (high 700s) to be exact, I pay back everything in full every month. Just looking to get a new credit card with a lower apr,


Instead applying for a new card, which will ding your credit score, you should rather call your (present) credit card company and negotiate for a lower rate.




...
 
Yes @HankScorpio the rule of thumb is to use a max of 10% of total utilization and a max of 30% utilization per card.

I wish I would have never opened up the Gold Premier Rewards card with AMEX. I should have went the CC route with AMeX. Im young so I think I will have to keep this card for atleast 5 years.
'

I called them up yesterday to cancel because I don't really use the bonus categories. She offered me a $75 loyalty credit and another $75 when I spend $1500 in the next two months so I decided to keep it. I've been a member since 05'.

The points guy is an awesome follow if you have established good credit.
 
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I was going to make a thread on this but I'll see if I can get the answer in here before I do-

Long story short, I owe Verizon $400+ dollars and they sent me to collections. It was for a early termination fee I thought was covered by a previous payment but I totally forgot I had that paynent refunded to me.

Anyway, I've been getting the letters from the different collection agencies that took this debt on. A couple months ago I got one offering me to pay the debt out for like $200ish which sounded great but I didnt have the money.

Since then, I've gotten letters asking for the full $450, until yesterday, when I got another offer to settle at like $200.

Heres my question- what is the very best wat to go about handling this debt? Should I pay this collection agency? Should I hire a lawyer? How do I handle this situation so my credit is effected most positively. I know at the moment its not good being in collections but whats the best way to start correcting this? Paying the debt or what? Maybe calling Verizon? (Probably not because its in collections)

I've basically been waiting to settle this before I open a card and finally star building my credit. Gona have to sign up for some bs card because this debt probably put a dent in my already non existant rep.

Any input is appreciated.
 
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