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

[thadangerousmind]

I just got my Rose Gold Amex today. I couldn't pass up 75K points as a sign up bonus. I don't like Chase so I'll transfer my 80K points from them and sock drawer my CSP until it's time to downgrade when that 2nd annual fee hits in November.

 

[Kamara4Life]

Anyone on here have any of the NAVYFED credit cards? Trying to see whats the best one to get... currently have a Chase Sapphire Reserve, Capital One Plat, and a Credit Union credit card

 

[freshpairs]

If someone with a lower score adds me as an authorized user, will that benefit me? I’m just thinking from their combined card limits will help lower utilization. And only their credit cards affect me right? Not any personal loans they have to their name?

 

[Bert.]

If someone with a lower score adds me as an authorized user, will that benefit me? I’m just thinking from their combined card limits will help lower utilization. And only their credit cards affect me right? Not any personal loans they have to their name?

as long as they make payments, their credit score doesn't affect you

 

[cs02132]

I’m on the look out for a new card with a sign up bonus
Already ran through like every one except any of the Amex cards. I don’t like how you can’t redeem for cash, only statement credits

 

[turbospartan]

I’m on the look out for a new card with a sign up bonus
Already ran through like every one except any of the Amex cards. I don’t like how you can’t redeem for cash, only statement credits

Already have the Chase business cards? I can hit you with a referral... and they currently have $750 sign up bonus if spending $7500 within first 3 months for the Ink Cash and Ink Unlimited. Or 100k UR points ($1k cash, or even more if you use the points) for the Ink Preferred, but you have to spend $15k in 3 months.

 

[cs02132]

Already have the Chase business cards? I can hit you with a referral... and they currently have $750 sign up bonus if spending $7500 within first 3 months for the Ink Cash and Ink Unlimited. Or 100k UR points ($1k cash, or even more if you use the points) for the Ink Preferred, but you have to spend $15k in 3 months.

Thought about getting a business card under my moms name (she said it’s cool ) but I couldn’t meet the spend requirement
Might just get a discover it miles under her name

 

[turbospartan]

Thought about getting a business card under my moms name (she said it’s cool ) but I couldn’t meet the spend requirement
Might just get a discover it miles under her name

You don't even really need a legit business LLC etc. You can just sign up as a Sole Proprietor using your SSN, and say that you resell items online (sneakers, for example). That's what I did for the 4 Chase biz cards I have

 

[ajenkins04]

Anyone on here have any of the NAVYFED credit cards? Trying to see whats the best one to get... currently have a Chase Sapphire Reserve, Capital One Plat, and a Credit Union credit card

I have their More Rewards AMEX and that's my primary card. They were offering a $200 reward for spending $3k in the first 90 days so that was a bonus. Also Navy Federal is very generous with their credit limits, they gave me a $25k limit and I've only been banking with them for maybe 6 months.

 

[fluid hips]

I’m on the look out for a new card with a sign up bonus

Same. Bank promos have been dismal lately

 

[para bellum]

It's rumored AMEX is raising the Platinum card from $550 to $700 a year

I really wanna see what the new perks are to justify it. The Gold card is already more useful if you don't travel frequently

 

[Grine]

Spoke with my daughter’s mother. My seed is turning 16 this year. We’re going to add her as an authorized user on some of our cards so that when gets out of college, her credit will be established enough for her to start on the right path.

 

[ROYGBiV]

Spoke with my daughter’s mother. My seed is turning 16 this year. We’re going to add her as an authorized user on some of our cards so that when gets out of college, her credit will be established enough for her to start on the right path.

Solid plan.

I hope high schools are teaching these kids about financial literacy nowadays.

 

[Grine]

Solid plan.

I hope high schools are teaching these kids about financial literacy nowadays.

I know for sure the school she’s attending has a business class she’s taking - that teaching some
Of it. I’ve also enrolled her on a summer program that’s built around financial literacy.

 

[willypete]

Got the prompt to request an increase as soon as I signed in. Not bad for almost 3 years

 

[fluid hips]

I paid off my car loan recently. Looks like it boosted my credit score but not by much.

 

[ROYGBiV]

Thinking of getting a Mac book soon. Any benefit in getting it with the apple card? A buddy of mine has the card and doesn't think much of it

 

[ICE CITY CF]

Thinking of getting a Mac book soon. Any benefit in getting it with the apple card? A buddy of mine has the card and doesn't think much of it

I mean it knocks 3% off MSRP with the option of 12 months financing at 0%.

One other less obvious benefit, if you do finance with Apple that $2,000-3,000 expenditure doesn't count against your card balance, preserving your utilization, because you're not charged in full but monthly.

Compare that to the Barclay Apple Rewards card which will also get you some cash back at 2% and up to 18 months financing at 0%, but the total purchase price is going to show up as debt on your credit report soon as the card is run.

Whatever you do get that MacBook bro. The M1 chip is a beast.

 

[hoosier bad boy 11]

I just paid off everything now I have to wait 12 months to start seeing some progress. I’m at 690 right now.

 

[getback]

Stupid question...but if I purchase something with my CC, how long do I have to pay it off before interest kicks in?

 

[turbospartan]

Stupid question...but if I purchase something with my CC, how long do I have to pay it off before interest kicks in?

Whenever your statement closes and then you pay by your due date

 

[RustyShackleford]

Chase Sapphire Preferred Credit Card | Chase.com

Enjoy a premium travel and dining experience, receive 25% more in travel reward redemption with 3x points on dining and 2x on travel. Learn more about Chase Sapphire Preferred

creditcards.chase.com

Chase Sapphire Preferred for a 100K Ultimate Reward points bonus with $4000 spend. If you redeem for travel that is $1250. $1500 is you already have the Reserve.

 

[ICE CITY CF]

I mean it knocks 3% off MSRP with the option of 12 months financing at 0%.

One other less obvious benefit, if you do finance with Apple that $2,000-3,000 expenditure doesn't count against your card balance, preserving your utilization, because you're not charged in full but monthly.

Compare that to the Barclay Apple Rewards card which will also get you some cash back at 2% and up to 18 months financing at 0%, but the total purchase price is going to show up as debt on your credit report soon as the card is run.

Whatever you do get that MacBook bro. The M1 chip is a beast.

Just wanted to clarify that the part about preserving utilization is wrong.

Apple Card/Goldman Sachs do report the full financed amount on Apple Card to the credit bureaus, the balance just isn't reflected on your statement.

I financed a MacBook Pro this spring and the balance on my statements show $0.00 after paying the monthly installments but my Experian credit report shows a balance equal to my remaining financed amount.

 

[cs02132]

Chase Sapphire Preferred Credit Card | Chase.com

Enjoy a premium travel and dining experience, receive 25% more in travel reward redemption with 3x points on dining and 2x on travel. Learn more about Chase Sapphire Preferred

creditcards.chase.com

Chase Sapphire Preferred for a 100K Ultimate Reward points bonus with $4000 spend. If you redeem for travel that is $1250. $1500 is you already have the Reserve.

That’s some bs
I just got 60k in February

 

[para bellum]

How long should you typically wait to apply for a new credit card, after you've been for another?

I've opened two in the last 8 months, but there are two more I want but don't know about how badly it reflects on my report. Got a great score and payment history, though