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

[dam itz lou]

I hope Marriott comes over to Amex.

Everyone is hoping the SPG program doesn't go anywhere but it just doesn't make sense to keep both programs. I'm using most of my SPG points for a couple of nights in Madrid in May. The Marriot card just increased their sign up bonus to 80K if you wanted to apply.

 

[jon4rd]

Just got a $4k increase on my Discover it card

 

[dakid23]

Everyone is hoping the SPG program doesn't go anywhere but it just doesn't make sense to keep both programs. I'm using most of my SPG points for a couple of nights in Madrid in May. The Marriot card just increased their sign up bonus to 80K if you wanted to apply.

I might need to look into that.

IMO Hyatt >

 

[Ube]

Where can I go to find more info in regards to repairing credit and dealing with collections?

 

[jon4rd]

Where can I go to find more info in regards to repairing credit and dealing with collections?

This thread or MyFico forums for more in depth information and situations

 

[nikeskywalker]

Just got a $4k increase on my Discover it card

How long have you had it??

 

[jon4rd]

How long have you had it??

90 days. I've been running it up and paying it down every month and paying my full balance when my statement cuts

 

[slighted]

 

How long have you had it??

90 days. I've been running it up and paying it down every month and paying my full balance when my statement cuts

Good work. I do the same and only got a $1700 increase recently.

 

[nikeskywalker]

good stuff. I'm going to do that too.

 

[getback]

Need to get rid of my $4500 Discover debt.

What's the highest balance you guys have had on your cards? Thought mine was bad, but my co-worker has a $19K balance. I hate owing period so I'm trying to chop this down.

I have like $4500 CC, $8K college and $1500 on my car. Striving to be debt free and then purchase property hopefully sooner than later.

 

[dam itz lou]

Need to get rid of my $4500 Discover debt.

What's the highest balance you guys have had on your cards? Thought mine was bad, but my co-worker has a $19K balance. I hate owing period so I'm trying to chop this down.

I have like $4500 CC, $8K college and $1500 on my car. Striving to be debt free and then purchase property hopefully sooner than later.

Man, it's crazy how many people are in debt now a days. I started investing through Lending Club. The worst situation I saw was someone who was making $120K a year owed $150K in credit cards alone. :x

Are you paying interest ? You should consider opening a card that has a 0% APR for 15-18 months. Chase slate offers 15 months of no interest and no balance transfer fee.

 

[getback]

Man, it's crazy how many people are in debt now a days. I started investing through Lending Club. The worst situation I saw was someone who was making $120K a year owed $150K in credit cards alone.

Are you paying interest ? You should consider opening a card that has a 0% APR for 15-18 months. Chase slate offers 15 months of no interest and no balance transfer fee.

I had 0% on this card for the first 15 months (which has since expired). For the first few months I was paying off any purchase I made. Unfortunately I was caught in a bind and needed like $3K worth of car repairs and health costs. Then I got laid off in September so I've had to rely on it a little more and here I am. Been trying to chip away since. But to answer your question, I am paying interest now.

I currently have a FICO score of 743.

What would you recommend? Get another card and use it to pay of this debt whilst chipping away at the new card's balance during the 15-18 month 0% APR trial?

 

[bluntobject50]

I had 0% on this card for the first 15 months (which has since expired). For the first few months I was paying off any purchase I made. Unfortunately I was caught in a bind and needed like $3K worth of car repairs and health costs. Then I got laid off in September so I've had to rely on it a little more and here I am. Been trying to chip away since. But to answer your question, I am paying interest now.

I currently have a FICO score of 743.

What would you recommend? Get another card and use it to pay of this debt whilst chipping away at the new card's balance during the 15-18 month 0% APR trial?

Yes. Get another card that offers 0% APR and use a balance transfer to pay off the Discover debt. Now you have your $4500 balance on the new card with 0% APR on that balance for 15-18 months. Knock it out small chunks at a time while saving on interest.

 

[dam itz lou]

I had 0% on this card for the first 15 months (which has since expired). For the first few months I was paying off any purchase I made. Unfortunately I was caught in a bind and needed like $3K worth of car repairs and health costs. Then I got laid off in September so I've had to rely on it a little more and here I am. Been trying to chip away since. But to answer your question, I am paying interest now.

I currently have a FICO score of 743.

What would you recommend? Get another card and use it to pay of this debt whilst chipping away at the new card's balance during the 15-18 month 0% APR trial?

I didn't have a lot of time to research the best balance transfer cards but I think the chase slate card is the only card that doesn't charge you a balance transfer fee. I'd max out the chase card with the debt you have. Discover always has balance transfer offers so I'm sure if you're not done paying off what you owe by the end of the 15 months they'll have an offer for you.

 

[Los Angeles]

Can someone break down Lending Club for me?

Pros / Cons etc

Thx

 

[dam itz lou]

Can someone break down Lending Club for me?

Pros / Cons etc

Thx

Investing or borrowing ?

 

[Los Angeles]

My fault, both.

 

[townbidness]

I owed 10 grand total on three cards. Idnt even know how much i spent on interest, I finally paid them all off. Felt like i was never getting out. Learned my lesson.

 

[al audi]

Need to get rid of my $4500 Discover debt.

What's the highest balance you guys have had on your cards? Thought mine was bad, but my co-worker has a $19K balance. I hate owing period so I'm trying to chop this down.

I have like $4500 CC, $8K college and $1500 on my car. Striving to be debt free and then purchase property hopefully sooner than later.

my credit card is only $4k

I've been maxed out like 2 times in my life, my other cardis only $500

high credit utilization is not ******* fun at all

 

[al audi]

I owed 10 grand total on three cards. Idnt even know how much i spent on interest, I finally paid them all off. Felt like i was never getting out. Learned my lesson.

i was maxed out one time when i was younger and unemployed

first time in my life i ever asked my mom for money................she gave me like 40 bucks just so i could pay the minimum

i felt like less than a man

 

[abernja]

Serious question. Why do you guys want credit?

 

[townbidness]

i was maxed out one time when i was younger and unemployed

first time in my life i ever asked my mom for money................she gave me like 40 bucks just so i could pay the minimum

i felt like less than a man

This i went thru that too. Paying a $150 dollar minimum and get slapped with $100 in interest. Smh,

Thank god i got a really well paying job now, able to clear myself out.

 

[eyanks]

Serious question. Why do you guys want credit?

1. I charge items to my credit card so I'm not liable if there is a problem with my purchase.

2. It helps build credit, which will help me get a mortgage.

 

[getback]

I didn't have a lot of time to research the best balance transfer cards but I think the chase slate card is the only card that doesn't charge you a balance transfer fee. I'd max out the chase card with the debt you have. Discover always has balance transfer offers so I'm sure if you're not done paying off what you owe by the end of the 15 months they'll have an offer for you.

Thanks for the advice. I just applied and was approved for that Chase Slate with 0% APR for 15 months and no balance transfer fee.

Time to knock this balance out ASAP.

 

[cojp]

Amex season CC incentives encourage people to open a line of credit. Never looked into nfcu. Purchased a car, hopefully with a year or two of on time payments my cs will increase 100+ points...