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

[jordman23]

Those changes don't seem that significant.

^^ I disagree, I travel with family and friends and have let in in some cases 5 people with me into the lounges all for free.

It's BS that they are going to start charging after the 2nd person.

I also got the email today about it, I hope there is a better card on the market by January when I have to decide whether to keep or not.

 

[supersaiyangod]

My guy, you have that much cash on hand to get a secured card balance that high? Your job hiring?

I can flip anybody's 'x' to a '1.5x' for them. Takes around 25 days.

 

[supersaiyangod]

I don't think any bank offers secured cards with that high limit. Most I've seen is $5k with BoA.

Plus, the whole point is to use the banks money and reap rewards using their money. Why would you want to put up so much of your own money to get a line of credit?

well for 1) having a higher limit = better credit, and 2) sometimes i wanna buy stuff higher than 10K but my CC limits aren't high enough to do the purchase, and my purchase limits on my checkings are capped at 2.5K they don't allow anything higher unless I have those special type of bankings that require you to have $1mill, I forgot what those accounts are called.

My plan was to get a 50K secured card so that my credit shoots up, I use it for a year, keep it under 30% utilization, and get credit limit increases on my other cards by riding off the wave of the better credit from the 50K limit one. Then I'd take a hit from closing the secured card afterwards but at least all my other cards would have huge limits

idk if this hypothetically works out tho, hence why im asking

 

[townbidness]

You got any family with good credit? Get on as a authorized user, even if you dont use the card itll shoot ur credit high enough to get ur own card after a bit

 

[turbospartan]

I can flip anybody's 'x' to a '1.5x' for them. Takes around 25 days.

What is this

 

[supersaiyangod]

You got any family with good credit? Get on as a authorized user, even if you dont use the card itll shoot ur credit high enough to get ur own card after a bit

What if they use the card tho? lol
I cant be like "yo dont use your card it'll affect my rating" I cant control another person's purchases. It gives me an idea though... Are fam members the only ones who can be added as authorized users? If so, theoretically I could be added as an authorized user on multiple ppl's CCs right?

 

[Bert.]

What if they use the card tho? lol
I cant be like "yo dont use your card it'll affect my rating" I cant control another person's purchases. It gives me an idea though... Are fam members the only ones who can be added as authorized users? If so, theoretically I could be added as an authorized user on multiple ppl's CCs right?

If they use the card it’s fine as long as they’re making payments on time and credit history is good

Being adding without you receiving a card or using it will help boost your score. Nothing crazy but it’s sometbing positive

 

[based mod]

^^ I disagree, I travel with family and friends and have let in in some cases 5 people with me into the lounges all for free.

It's BS that they are going to start charging after the 2nd person.

I also got the email today about it, I hope there is a better card on the market by January when I have to decide whether to keep or not.

I'm personally good with the limit on PP. There's people bragging on the internets about bringing their party of 20+ into the lounge. I also don't have kids so I can't empathize with those who bring their screaming kids into a space that should be reserved for peace.

Losing price protection and 3x on the $300 travel credit sucks though

 

[Olympus]

I applied for a small line of credit ($300) at a bank I just joined. It's their version of an overdraft protection where instead of being denied for a purchase the additional amount gets charged to credit and can be paid off like a credit card.

I got the report in today and I was denied citing a score of 625 as well as

Serious Delinquency
Level of Delinquency on Accounts
Length of Time Accounts have been established
Proportion of loan balances to loan amounts is too high
Too many inquiries in the last 12 months

My oldest CC is at least 4-5 years old, I've only used one for the past 3 years and have only had 2 late payments that I was refunded the charge for after asking due to my reliable payment history, and I've only used about $300 of my available $8k in credit. As far as inquiries go I only use CK to check my scores and I only do that every few months and last I checked they had my score in the 750s the other day.

Are these old reports their using or what?

 

[cs02132]

Man I’m Trying to close my td bank checking account. Been like a week long process and now I finally was able to close and it and she told me if any direct deposits come in I’m gonna have to wait for them to process and then make my account $0.00 again. And my work DD comes in tomorrow **** is taking forever, had to make my account $0, then wait days for everything to process

So much for “America’s most convenient bank”

 

[para bellum]

How do I go about canceling a card I no longer use, without negatively affecting my credit? I've had it for close to six years now.

I'm planning on getting a card with a lot more reward benefits.

 

[bostoiah]

How do I go about canceling a card I no longer use, without negatively affecting my credit? I've had it for close to six years now.

I'm planning on getting a card with a lot more reward benefits.

It’ll decrease your average age of accounts, increase credit utilization %, etc. and will decrease your score in the short term. No way around it really....

What kind of card is it? Maybe you can upgrade to a card with more benefits

 

[para bellum]

It's a Capital One QuicksilverOne card, but I have a Venture Rewards Card with them. I'm aiming to get the AMEX Blue Preferred Card.

Guess I'll try to talk to retention and try to get the fee waived... again.

 

[eyanks]

It's a Capital One QuicksilverOne card, but I have a Venture Rewards Card with them. I'm aiming to get the AMEX Blue Preferred Card.

Guess I'll try to talk to retention and try to get the fee waived... again.

Can you get it converted to the regular Quicksilver without the fee? I've seen that done before.

 

[para bellum]

Can you get it converted to the regular Quicksilver without the fee? I've seen that done before.

I'll give it a shot. Thanks.

Edit: The conversion worked. It helps asking NT over just googling sometimes. Thanks, bro.

 

[Bert.]

How do I go about canceling a card I no longer use, without negatively affecting my credit? I've had it for close to six years now.

I'm planning on getting a card with a lot more reward benefits.

how much is the fee? 6 years is a lot man.

 

[lilchico4life]

how much is the fee? 6 years is a lot man.

I believe the fee for the QS1 is $39 annually.

 

[Bert.]

pay the $40

 

[lilchico4life]

I'll give it a shot. Thanks.

Edit: The conversion worked. It helps asking NT over just googling sometimes. Thanks, bro.

Good thing you got a conversion. No way I would close an account which is 6 years old. Best to convert to a no AF card and sockdrawer it. Charge it every 3 months for couple dollars and pay it off.

 

[eyanks]

Discover loves me for some reason. Constantly getting credit increases, just got another $5,000 increase for no reason. My Capital One Quicksilver seems to be topped out in getting CLI's.

 

[$tatus $ymbol]

Discover won’t give me an increase for nothing. Never carry a balance, no missed payments and I’ve gotten 1 increase in 3 years. Just got a 5k increase on a card I’ve used maybe 5x in 2 years

 

[eyanks]

Yeah it makes no sense.

 

[Bert.]

Discover won’t give me an increase for nothing. Never carry a balance, no missed payments and I’ve gotten 1 increase in 3 years. Just got a 5k increase on a card I’ve used maybe 5x in 2 years

Same here and I’ve had discover for few years now

Weird

 

[eyanks]

Anyone have luck in getting a Chase credit increase without a hard pull?

 

[Brownstone]

Man I’m Trying to close my td bank checking account. Been like a week long process and now I finally was able to close and it and she told me if any direct deposits come in I’m gonna have to wait for them to process and then make my account $0.00 again. And my work DD comes in tomorrow **** is taking forever, had to make my account $0, then wait days for everything to process

So much for “America’s most convenient bank”

Uh, it's your fault for opening an account just to close.