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Are you more concerned with your score, or the money staying in your pocket? Chances are your score may drop a little if you pay it off. But you'll be much better financially without those obligations going out each money.
24 Looking to build Credit... What are some good tips on your first Credit Card
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You are a smart man. But I think its very situational. Most are working for a score to borrow for a homr or car. But your score will only affect your rate to a certain extent. Having a perfect score will get you a better rate, but not something that will go past the rate environment. More so, how much you gross and your employment history plays a part as well.
More so, if youve already have a mortgage or loan, I think it makes more sense to be in better financial standing.
And even so, you always want your books to look good. You never want to carry debt. Cash will make you look better, not your ficoh score.
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Which was basically my point. My score has been above 740 for the better part of 10 years now and I haven't heard about a rate difference because I'm above 800 now. If you look on most calculators, excellent credit starts around 740, so like I said earlier it's a null point to work hard to keep getting it higher besides bragging rights.
Cash is always king and paying off debts gives an incredible amount of freedom to your life. It's hard to explain, but it just changes everything.
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Moreso just to see the score get higher. Haha. But in reality, I hope to purchase a small condo this year so I think it would be best to clear all my debt asap?
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Oddly enough, I was going to request a credit limit increase on my Chase Freedom card next week after I paid it off but Chase increased it on their own by 50% yesterday.
Feels good, man.
Going to apply for the Preferred Blue Cash AMEX card soon.
0% interest rate for the first 15 months will come in handy plus the numerous other benefits I'll take advantage of.
Feels good, man.
Going to apply for the Preferred Blue Cash AMEX card soon.
0% interest rate for the first 15 months will come in handy plus the numerous other benefits I'll take advantage of.
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You answered your own question. Your financial standing at the time of application matters more than your Ficoh score.
Lowering your liabilities makes you look better.
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Yup that Amex is my favorite card. Their rewards system is the best. Saved thousands from Amex Offers plus the cash back on groceries & gas.
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Just called to find out that I am not able to open another cc account. I have to close out my old card if I want to up the amount and get a new card.
Im torn on what I should do, maybe just get an amex smh
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Havent you read the advice here? If not, try googling.
When trying to buy a home, you should care about your financial position, NOT score!! Your credit score does not dictate what rate you will receive. Having cash, down payment over the conventional loan requirement, employment history and little to no debt will help you a lot more than opening credit cards and LOCs to try improve a score.
I can see how opening a c.c. for convenience will help, but better financial management will automatically lead you to a higher score.
Check with your financial institution. Clear out any in active cards and start a new.
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Yea just get a card with another company. Keep that same card open if that's your only card, no reason to close it out unless you really want a card your credit union offers.
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I know a lot of you guys stand by Discover and their cards and rewards but have you guys ever run ito a situation where a place does not accept Discover? I am likely to get one of their cards but want to feel secure that I won't have to adjust the places I spend money
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of course. many places dont take discover or amex
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I've never been to a big chain that doesn't accept amex or discover. Corner stores, carry outs, and mom & pop stores assume they don't accept amex or discover.
Not sure how often you shop at places like this.
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Yup. I always carry a Visa because I know it'll be accepted practically everywhere that accepts CCs.
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So weird to me how Sam's club doesn't accept Visa CC. It makes no sense to me.
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Same for Costco. Amex or debit only. They have an exclusivity partnership so it does make sense, it's just not convenient for the customers.
I always keep 5 CCs in my wallet to account for card acceptance & to take advantage of rewards.
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Isnt it because of a business deal to exclusively use one merchant?
A while back, I heard about Costco dropping AMEX.
Has to be business incentive.
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Well they accept ALL major credit cards except Visa lol. I guess it is the partnership.
They accept Visa debit.
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Thanks guys, I'm rebuilding my credit so I gotta get the secured one and I'll make that deposit leap this weekend. Really wanted to buy my laptop this week but this is more important
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I would (and should have). Bought my first condo several years ago with almost $15,000 in debt. Lost my job about 6 months later without a designated emergency fund. Your credit score will only go so far with personal security. Thankfully I got another job 3 weeks later and paid it off by the summer. Been debt free ever since and it couldn't feel better.
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Gentlemen, any recommendations of business credit cards where I can reap the most benefits (cash back preferably)? I'd say I spend $500,000+ annually. Are there any business cards that don't have a limit for cash back?
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Thank you sir went ahead and got an AMEX feels good man, now just waiting for this card to come in the mail
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Chase ink business plus. The sign up bonus is 60K when you send $5K.
5 Times Points Earn 5X points per $1 on the first $50,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year.^ 2 Times Points Earn 2X points per $1 on the first $50,000 spent in combined purchases at gas stations and hotel accommodations when purchased directly with the hotel each account anniversary year.^ 1 Point Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.^
Chase Ink business cash. The sign up bonus is $200 when you spend 3K.
5 percent Earn 5% cash back* on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year.* 2 percent Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.* 1 percent Earn 1% cash back on all other purchases—with no limit to the amount you can earn.*
American express business gold is a great card. It has a $100K cap on the bonus categories. The sign up bonus is 50K.
Amex also has the Simply cash business card but it only has a cap of $25K.
Check out their bonus categories and see what works best for you.
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just got an email from chase saying if i get anyone to sign up for a chase freedom card YOU get $150.
i get $50 but i use the card every day, its my #1.
if anyones looking for one PM me.
i get $50 but i use the card every day, its my #1.
if anyones looking for one PM me.
