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

^ No idea at all. The only difference is I've been spending a lot more (but still paying off my balance every month).
 
So my first statement came in today, and i plan on paying it off. My question is, would it be better to pay it all at one time, or pay it in increments? Or does it even matter?
 
howfly2 said:
So my first statement came in today, and i plan on paying it off. My question is, would it be better to pay it all at one time, or pay it in increments? Or does it even matter?
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Pay it all at one time just so you don't have to worry about the extra work.
 
You're not better paying it off bit by bit, you're better off having zero to as little debt as possible.

This is what a good credit report looks like, this person has a 732 Fico Score:


View media item 2123099

It's fairly simple to read.
- The left hand column says what trade line the loan is
- The 2nd column indicates how long the trade has been open and when it was last reported
- The middle column shows the balance remaining, the highest the balance was at, and the initial balance
- The column second to the right shows what type of loan it is and how much the monthly payment is. REV means revolving, indicating it is a credit card. AUTO is obviously a car loan. EDU is an education loan. INST is an installment loan (not pictured).
- The column to the right shows how many months the loan has been paid. The 0 | 0 | 0 portion shows many times the loan has been late 30, 60, and 90 days.

This particular person has a 732 fico with 3 credit cards at a $0 balance and two installment loans that she has not missed a payment on. The education loan has been paid consecutively for 45 months, which is the biggest factor why their credit score is very good.
 
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I've been seeing the Discover IT card being thrown around quite a bit in here.

Can someone school me on the card? Good rewards?

I currently have a Capitol One Venture Card ($10k limit) that i've had for about two years. I have some expenses (trips, christmas, birthdays) coming up in the next few months and am thinking about getting a new card to take advantage of the spend x amount, get x amount of points.

Can anyone recommend a couple of cards or some websites I can take a look at to compare?

Last I saw, my credit score was fluctuating between 750-760.

Thanks!
 
I knew the hit was coming but that 29 point hit from opening these credit cards just hit.

I went from 1 to 6 and closed the only one I had with a annual fee.

A year from now I'm hoping I'm back where I was and higher.
 
SJSneakerheadIII said:
I've been seeing the Discover IT card being thrown around quite a bit in here.

Can someone school me on the card? Good rewards?

I currently have a Capitol One Venture Card ($10k limit) that i've had for about two years. I have some expenses (trips, christmas, birthdays) coming up in the next few months and am thinking about getting a new card to take advantage of the spend x amount, get x amount of points.

Can anyone recommend a couple of cards or some websites I can take a look at to compare?

Last I saw, my credit score was fluctuating between 750-760.

Thanks!
Click to expand...

RIP to your PMs.

But discover it card doesn't have a spend bonus, only bonus you'll get on signup would be with $50 a referral. Which I'm sure you've gotten PMs about already :lol:. Are you looking to get a cash reward from the spend bonus? Or miles/points? And would you be able to pay off the balance every month?

The chase freedom or Bank of America card and plenty others offer a cash reward for $X spend in 3 months or so. There are a lot of cards that you can get 50k+ miles or points for spending like $4000 or so in the first 3 months but those also come with an annual fee. The bonus you get from the miles/points cards far exceed the cash back cards but won't have a zero percent interest period so you have to pay the balance in full every month or you will be charged interest so keep that in mind also
 
SJSneakerheadIII said:
I've been seeing the Discover IT card being thrown around quite a bit in here.

Can someone school me on the card? Good rewards?

I currently have a Capitol One Venture Card ($10k limit) that i've had for about two years. I have some expenses (trips, christmas, birthdays) coming up in the next few months and am thinking about getting a new card to take advantage of the spend x amount, get x amount of points.

Can anyone recommend a couple of cards or some websites I can take a look at to compare?

Last I saw, my credit score was fluctuating between 750-760.

Thanks!
Click to expand...

It's alright IMO. I prefer my BOFA card with 1% on everything, 2% at grocery stores (cash back on backwoods :pimp: ), and 3% on gas, plus it had a $100 cash back when u spend $500 in the first 3 months. I've had it since December and i have like $190 in cash back :pimp:

I originally wanted the chase freedom unlimited, $175 back when you spend $500, and 1.5% cash back on everything, but I got denied because of my credit length. I pretty much just signed up for the IT for the $50 which in the end is a free $100, and just to have more than 1 card. I barely use it but I just started to, especially with the 5% on Amazon

I was gonna wait and use it for a year to get the full benefit but I want that chase card :evil:

I used this site to decide what card I wanted http://www.moneycrashers.com/best-cash-back-credit-cards/


Pm me if u end up signing up doe :nerd:
 
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Actually got one last week from 7500 to 9500. My score broke 760 recently so that might be the reason
 
Im waiting for that boa increase everyone else has been showing love recently.

Today was my 60 day for amex and im up to 23k now. Im good on cards and limits for now. Gotta work on my age of lines now.
 
blazersin2k3 said:
man that 100k ur bonus is crazy and i'm under 5/24, collecting points is kinda addicting
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No point in keeping the CSP if you decide to get the reserve card so you can put the AF towards it. You reset the clock to reapply for it in 2 years if its still offering a high sign up bonus. You can downgrade the CSP to the freedom unlimited and any points you earn on the FU will be like getting 2.25 for flights booked through their portal. This makes it an even better non bonus spend card. The $350 credit looks like you'll be able to use towards airline gift cards. 100K sign up bonus.

NO BRAINER!
 
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Discover is having 15% cashback on Nike.com + 20% off clearance + 12% on ebates. Message me to get a referral link :pimp:
 
What are some secured cards that are easy to get approved for? :nerd:
Nobody is approving me for anything, even got denied using a referral. :smh:
Signed up for CK, and the only thing on my credit is a hospital bill from 2013, and now my car note that I just got three months ago. I'm not even getting approved for student cards. Im 21 if that matters.
 
Anyone can get approved for a secured card since you have to pay to get your credit line.

Deposit $300 and you get a $300 credit line

Capital one has a secured card
 
Doxen5703 said:
What are some secured cards that are easy to get approved for? :nerd:
Nobody is approving me for anything, even got denied using a referral. :smh:
Signed up for CK, and the only thing on my credit is a hospital bill from 2013, and now my car note that I just got three months ago. I'm not even getting approved for student cards. Im 21 if that matters.
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You can get approved for any secured card. Gotta get that collection removed if you want to get approved for non secured cards fam. Try to see if you can pay the hospital and they can remove it from the collections agency. If not negotiate a pay for delete with the collection agency.
 
Zyzz said:
Anyone can get approved for a secured card since you have to pay to get your credit line.

Deposit $300 and you get a $300 credit line

Capital one has a secured card
Click to expand...


jon4rd said:
You can get approved for any secured card. Gotta get that collection removed if you want to get approved for non secured cards fam. Try to see if you can pay the hospital and they can remove it from the collections agency. If not negotiate a pay for delete with the collection agency.
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Reps for both of you. I filed a direct dispute with CK on the collection to see what that does. Once they get back to me about that, I'll see what's up. Don't collections stay on your history for seven years whether you pay it or not? :nerd:
 
Yea it ends up falling off

How old are you? How old is your credit history. I've seen people with a few negatives get approved for regular cards
 
Zyzz said:
Yea it ends up falling off

How old are you? How old is your credit history. I've seen people with a few negatives get approved for regular cards
Click to expand...
I'm 21. My credit is basically new. The collection is the first thing on my credit history, followed by my car note which is three months old. HALP.
 
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