- 4,758
- 1,409
- Joined
- Nov 6, 2012
24 Looking to build Credit... What are some good tips on your first Credit Card
- Thread in 'General' Thread starter Started by trynafeelmink,
- Start date
- 44,106
- 16,564
- Joined
- Apr 23, 2014
Like you said now, twice, there are many ways to build credit, and this is true. I agree. Which is why I'd never say your advice is bad, if it works.
You were the one who was acting like your way needed to be the way, by snarkishly stating, "there are other ways to obtain credit highs etc etc etc'
Point is this, are you going to help or explain how he can get this $15k credit high for his first card, like you did, since you insinuated that all you had to do was apply and everyone else should qualify like you.
If not, we can end the convo there, only reason I even brought it up was because it would be excellent for the kid, if it was true and you were willing to share.
You were the one who was acting like your way needed to be the way, by snarkishly stating, "there are other ways to obtain credit highs etc etc etc'
Point is this, are you going to help or explain how he can get this $15k credit high for his first card, like you did, since you insinuated that all you had to do was apply and everyone else should qualify like you.
If not, we can end the convo there, only reason I even brought it up was because it would be excellent for the kid, if it was true and you were willing to share.
Last edited:
- 44,106
- 16,564
- Joined
- Apr 23, 2014
You know what, I apologize if I came off a certain way.
This thread isn't about that, and I/we should not be bickering.
That's counterproductive and not at all what this thread is about. We have enough threads that get ate up with **** like this.
Sorry for my part in that.
This thread isn't about that, and I/we should not be bickering.
That's counterproductive and not at all what this thread is about. We have enough threads that get ate up with **** like this.
Sorry for my part in that.
- 4,758
- 1,409
- Joined
- Nov 6, 2012
Navy Federal CU credit card thread for anyone that is interested.
http://ficoforums.myfico.com/t5/Credit-Card-Applications/Official-NFCU-CLI-Guide/td-p/2101185
Currently have a 17.3K CC and 15K CLOC (Checking Line of Credit) through Navy. Many people use the CLOC for a utilization buffer.
The CLOC is pretty much overdraft protection, but you can also write checks from it.
http://ficoforums.myfico.com/t5/Credit-Card-Applications/Official-NFCU-CLI-Guide/td-p/2101185
Currently have a 17.3K CC and 15K CLOC (Checking Line of Credit) through Navy. Many people use the CLOC for a utilization buffer.
The CLOC is pretty much overdraft protection, but you can also write checks from it.
Last edited:
- 4,771
- 1,172
- Joined
- Jul 20, 2012
Applied for a credit Increase on my recently opened Amex every day card .
I haven't gotten a reponse I did it online on their site. They should I get a response within 7-10 days. Should I call?
I haven't gotten a reponse I did it online on their site. They should I get a response within 7-10 days. Should I call?
- 4,052
- 1,210
- Joined
- Sep 24, 2011
I've already been approved for the capitol one Secured card i just can't make the deposit until my first payday 
And to clear up the "payday loan alternative" thing it has zero interest as long as you have the funds in your account to pay it. It's not the typical payday loan situation where you're paying like 550 for borrowing 400
And to clear up the "payday loan alternative" thing it has zero interest as long as you have the funds in your account to pay it. It's not the typical payday loan situation where you're paying like 550 for borrowing 400
- 44,106
- 16,564
- Joined
- Apr 23, 2014
I've already been approved for the capitol one Secured card i just can't make the deposit until my first payday
And to clear up the "payday loan alternative" thing it has zero interest as long as you have the funds in your account to pay it. It's not the typical payday loan situation where you're paying like 550 for borrowing 400
That's even better on the payday loan. You want to try and get 4-7 lines on your report whether revolving, secured, installments etc.
They don't have to be all open, but the history is nice.
I know I had several situations where kids/younger folk would come in for a loan(auto) and had 700 FICO scores, but I had banks @1.99 interest that wouldn't give them a loan because they didn't have 5 prior credit lines. All banks are different.
Just saying, the thicker the file, the better buyer you can be in a lot of situations. A Bank that's loaning money in a lot of situations, never meets you, they meet your report, and it needs to make the best impression.
Last edited:
- 7,615
- 7,214
- Joined
- May 14, 2008
Thank you for the input, fellas.
I think I've read somewhere that the Barclaycard has the better redemption rate? I think it's because you get 5% of your miles back when you redeem for travel credit.
Barclaycard's customer service is really that bad?
-Drew
- 16,421
- 2,164
- Joined
- Feb 15, 2012
Thank you for the input, fellas.
I think I've read somewhere that the Barclaycard has the better redemption rate? I think it's because you get 5% of your miles back when you redeem for travel credit.
Barclaycard's customer service is really that bad?
-Drew
Dont know anything about that. You should look into the Chase Sapphire for redemtion. I think they have a 20% bonus if you book through their site (i. e you can get a $500 plane ticket with $400 worth of miles. But for convenience you might not always be able to do that. Not sure how good that service is.
Last edited:
- 4,758
- 1,409
- Joined
- Nov 6, 2012
I have a barclays online savings account and their customer service is great. Not sure about the credit card customer service.
- 5,365
- 2,121
- Joined
- Jun 30, 2012
Never had issues with Barclays but they did close my card because I stopped using it.
- 7,954
- 6,801
- Joined
- Jan 17, 2013
I have heard Barclays is notorious for closing people's cards out the blue. i have a Barclays card and never had issues. They've actually gave me good CLIs without request...
- 94,096
- 33,129
- Joined
- Oct 24, 2010
There you have it
They aren't supposed to close your account because you don't use it. Dumbest thing ever
- 12,981
- 5,243
- Joined
- Jul 18, 2012
yup, thats shiesty. I have a random jeweler card I got when I thought i was getting a ring with it.... year later still reporting 0 of 5k
- 8,877
- 2,658
- Joined
- Aug 21, 2005
I would be heated if a company closed my account without my consent
- 10,287
- 8,153
- Joined
- May 22, 2009
I got the same response, imo they denied me.... It's cool I'm good with the 5 G, limit they gave me.... I got my auto loan refinanced a few days ago, my real Fico score is 746.... I was surprised, my interest rate dropped from 5% to 1%.... Just 6-7 yrs a go I was at 550... Now on to the 800 club
- 4,758
- 1,409
- Joined
- Nov 6, 2012
Accounts can be closed due to long periods of no activity. Some banks are just more lenient than others.
- 8,557
- 7,217
- Joined
- Aug 22, 2012
I am thinking of refinancing my auto loan as well, did your score go up because of it?
- 10,287
- 8,153
- Joined
- May 22, 2009
It's to early to tell I just refinanced the loan on Monday, I paid off a bill that was in collection. That was the main thing holding my score down.
- 4,758
- 1,409
- Joined
- Nov 6, 2012
A refi won't cause your score to go up , if anything a temporary drop due to new inquiries.
- 6,698
- 2,342
- Joined
- Mar 4, 2009
When I was in college, my pops added me to his CC for emergencies or if I needed to get something. When I graduated, I decided to by myself a car. It showed that I was on the CC but didn't report it too much. Since it was the only thing on it, I had no credit history, so even though my score was a 723, I had no loan payment history and had like a 4.9% interest rate. I paid on it for a year and then refinanced it down to like 2.9% or something and dropped my monthly payment by $115.
Not to rehash something old, but other than this said car and the refinance on it, I had no other real credit history and NFCU gave me a $13,500 card. Granted I had that car paid on for at least a year since I did the refi and applied for the CC since I was there, and I was making over 60k since I am sure yearly salary played a part too in that.
I have a Kay Jewelers card and I think after 2-3 years of inactivity they close it. I opened it in college for 1 thing and didn't use it again until I got my wife's engagement ring. I was applying for their card (they had some bonus reward dollars or something and 12 month no interest I was just going to do for the benefits and pay it off in 2-3 month chunks). They informed me that I already had a card that was just inactive. I just filled out the paperwork again and they processed it again but said that it didn't pull my credit again since I was already approved 1x. Not sure how they are doing it, but every few years I guess they do and will make it inactive but won't close it.
yup, thats shiesty. I have a random jeweler card I got when I thought i was getting a ring with it.... year later still reporting 0 of 5k
I always wondered this though.....
What if you buy a car from the dealer to get a lower initial deal price, and then refinance it with your credit union or something? Will it show that the one car loan was essentially paid off (help score) and you just opened another one?
- 6,698
- 2,342
- Joined
- Mar 4, 2009
On this link, at the top they have CC from their partners....There is a DiscoverIT card and a DiscoverIT Chrome?
They list the normal IT under people with a FICO of 660-719 and the Chrome for 720-850, but the benefits are exactly the same, except....the normal IT card gets 5% CB vs just 2% for the Chrome. Doesn't this make the normal one better?
Also....those dudes with their sig at the bottom listing out all those CC they have?!
- 21,698
- 7,579
- Joined
- Dec 19, 2006
If any of y'all need discover or Amex referrals hit me up and we can both get some $50 bonus 
- 2,413
- 3,500
- Joined
- Jan 4, 2004
So hypothetical situation,
Say you have a good credit score 750+, and you take out a loan for a home. Because of your good credit, you lock in a good rate. Let's just say a 15 year loan for 4%.
(Numbers are just for demo purposes)
During the course of a year, your credit score goes down because you didn't pay some bills or whatever, can that harm your loan you already had locked in? Would they be able to raise the interest if your credit worthiness drops?
Will the bank or creditors check periodically to see if you keep the credit score in good shape?
Say you have a good credit score 750+, and you take out a loan for a home. Because of your good credit, you lock in a good rate. Let's just say a 15 year loan for 4%.
(Numbers are just for demo purposes)
During the course of a year, your credit score goes down because you didn't pay some bills or whatever, can that harm your loan you already had locked in? Would they be able to raise the interest if your credit worthiness drops?
Will the bank or creditors check periodically to see if you keep the credit score in good shape?
- 21,698
- 7,579
- Joined
- Dec 19, 2006
Yeah refinancing will help your wallet not your score, if they hard pull for the refinance your score will drop a bit but it'll be worth it if you can get a better % on the refinance
