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It's targeted.
24 Looking to build Credit... What are some good tips on your first Credit Card
- Thread in 'General' Thread starter Started by trynafeelmink,
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It's targeted.
cs02132
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Damn I'm not gonna get **** back
. I only spend like $400-600/month on my card
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Limit of 1250... how does it work in terms of how much I use for example
I spend lets say $200 which leaves me with 1050 for the month right? So even If I pay it in full that same month I have to wait until the next statement for it to basically be at 1250 limit again?
Also with a limi of 1250 how much could I purchase I'm sure spending like $800 cant be good even if its paid in full.
I spend lets say $200 which leaves me with 1050 for the month right? So even If I pay it in full that same month I have to wait until the next statement for it to basically be at 1250 limit again?
Also with a limi of 1250 how much could I purchase I'm sure spending like $800 cant be good even if its paid in full.
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Exactly why im planning to get a saphire card soon. About to have 100k in points on my freedom and want to use it for travel partners
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If u pay it off the 1250 will b avail once ur payment clears..
I'd suggest to use it lightly at first..once u start building credit history u can request a credit increase..have u looked into getting additional cards?
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This my first card so just gaining as much knowledge as I can
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^ Pay it off every month. Leave no balance.
Cop another card in a few months.
Cop another card in a few months.
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Have like 22k credit limit with three cards don't owe any debt but I still pay them in full every month. I'm 27 btw. Trying to save for a house. [emoji]128526[/emoji]View media item 2102063
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Just got approved for the citi double dash. They only gave me a limit of 3k and the apr is over 20% wtf? Credit is excellent (over 800) and salary is high. Anyone else experience this when signing up for the card? Was going to use it as my new daily card, but it's not even high enough. I have a 13k limit on my freedom.
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Around 20% apr is pretty standard for rewards cards unless you get an apr reduction later on down the road. Shouldn't be a big deal though since they have an intro 0% apr (was 18 months when I got mine). But I think you can request a CLI after 6 months
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I've never had a card with anything over 18% apr. I have a citi card from last year with over 6k and an apr of 16%. This with a lower salary and credit score in the high 600s. I think this card's algorithm is off.
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APRs shouldn't matter when you pay off the entire balance every month.
I just want the best perks
I just want the best perks
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Just about to close my oldest CC.
What's the best rewards card on the market now? I already have Quicksilver, VentureOne, and DiscoverIT.
What's the best rewards card on the market now? I already have Quicksilver, VentureOne, and DiscoverIT.
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I'd go for Chase Freedom (not unlimited).
Right now, I use a combo of Chase Freedom & Discover for rotating categories, Citi Forward for Amazon, restaurants and game/concery tickets (no longer available though) & Amex Blue Cash Everyday for groceries & gas. Miscellaneous purchases are going to my Citi Prestige & Sapphire Preferred so that I meet the bonus spends.
For the Freedom and Discover rotating categories, make sure you max out the quarter limit by buying gift cards . For example, since the Freedom was getting 5% back for groceries last quarter, I bought a bunch of Vons gift cards and am using those GCs now this quarter to essentially get back 5% on groceries. The Amex has been temporarily shelved until that GC runs out. Takes a little work, but you end up saving a good chunk of change by maximizing the spend for each quarter. Since the Freedom is getting 5% back at Costco this quarter, I'm planning on buying Costco GCs so that I can use those at their pumps to get back 5% on gas too.
Right now, I use a combo of Chase Freedom & Discover for rotating categories, Citi Forward for Amazon, restaurants and game/concery tickets (no longer available though) & Amex Blue Cash Everyday for groceries & gas. Miscellaneous purchases are going to my Citi Prestige & Sapphire Preferred so that I meet the bonus spends.
For the Freedom and Discover rotating categories, make sure you max out the quarter limit by buying gift cards . For example, since the Freedom was getting 5% back for groceries last quarter, I bought a bunch of Vons gift cards and am using those GCs now this quarter to essentially get back 5% on groceries. The Amex has been temporarily shelved until that GC runs out. Takes a little work, but you end up saving a good chunk of change by maximizing the spend for each quarter. Since the Freedom is getting 5% back at Costco this quarter, I'm planning on buying Costco GCs so that I can use those at their pumps to get back 5% on gas too.
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You sound like me with the collection of CC's I got.
I have a Citi preferred, but I dont like it much. Im paying it off and having them reduce my line alll the way down. Same with a Wells Fargo card I have that has zero rewards, but a nice interest rate. I keep them around because they were the first two cards I ever opened. My credit line for my AMEX and others are more than high enough though to see a huge impact by reducing those lines to practically nothing.
I have a Citi preferred, but I dont like it much. Im paying it off and having them reduce my line alll the way down. Same with a Wells Fargo card I have that has zero rewards, but a nice interest rate. I keep them around because they were the first two cards I ever opened. My credit line for my AMEX and others are more than high enough though to see a huge impact by reducing those lines to practically nothing.
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What's your reason for lowering the credit limit on those cards? I've only had to do it with Chase because they've limited my cumulative limits between my 3 cards to half of my annual income and any additional cards I'd sign up for would get denied
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Well, it's really from a lack of discipline. For one, I racked up a lot of debt from my wedding and then subsequent gambling decisions (smh), but how I'm set up with all my other credit cards, I find those two to be the ones I won't be using at all when I'm debt free and want them open because they were both the first two CC's I ever opened. My Wells going back to like 2002 or '03. It gets absolutely no benefits. It's interest rate is my lowest of all though. I have tons of bonus $ or whatever with my Citi preferred, but the interest rate is crap and I just don't need to use it. My limit was upwards of $11k and I recently dropped $5k on it and had them reduce it to $6k. I'm going all the way down to $1K...Maybe $500.
I also have a Slate and Freedom with Chase, which combined is over $9k -- the plan there is to combine into one CC (the Freedom), which they'll do, but they run credit again and I'm not ready for them do that, which is why I wait. I also have an AMEX which is $12k and then a Discover which is $3,700. Both those have nicer rewards, so when all is said and done, I will still have open my two oldest CC's that I won't use and are merely to keep my length of credit history strong (I will eventually close, but even though it stays on your report for a bit, I'm hesitant to do any closing before I buy a house) and then a Freedom, AMEX and Discover, which I will increase my limit on. I'll have more than enough credit options open and a good amount of available credit. The highest my score was with all these -- during the good times -- was 747...After all of this is taken care of, my thought is I'll be at that same spot, but probably higher. Buy a house and re-evaluate.
My issue though is paying down that Citi and Wells and knowing I have a good available balance on them, so I use them to buy dumb ****. If I were more disciplined then I'd just let the credit limit be, but I'm not, so now it's just a business decision in regards to the lesser of all evils.
I also have a Slate and Freedom with Chase, which combined is over $9k -- the plan there is to combine into one CC (the Freedom), which they'll do, but they run credit again and I'm not ready for them do that, which is why I wait. I also have an AMEX which is $12k and then a Discover which is $3,700. Both those have nicer rewards, so when all is said and done, I will still have open my two oldest CC's that I won't use and are merely to keep my length of credit history strong (I will eventually close, but even though it stays on your report for a bit, I'm hesitant to do any closing before I buy a house) and then a Freedom, AMEX and Discover, which I will increase my limit on. I'll have more than enough credit options open and a good amount of available credit. The highest my score was with all these -- during the good times -- was 747...After all of this is taken care of, my thought is I'll be at that same spot, but probably higher. Buy a house and re-evaluate.
My issue though is paying down that Citi and Wells and knowing I have a good available balance on them, so I use them to buy dumb ****. If I were more disciplined then I'd just let the credit limit be, but I'm not, so now it's just a business decision in regards to the lesser of all evils.
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Just keep all the cards the way they are right now and stuff them in your sock drawer. Put them in a lockbox if you need to. Also don't really get why Chase would have to pull a credit check on you to combine cards....that doesn't sound right. Definitely get your credit right before looking into a house. Don't do anything that'll require a pull and pay down those balances. You'll be back to 747+ soon enough.
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I tried the above, but Citi has that damn virtual account number, so even after I cut it up, I was still using.
I used to work for Chase and you're right. It used to be they just transferred the credit line over and that was it. I told this to the guy over the phone, but he wasn't wise to it. I hung up and just don't feel a neccessary need right now to deal with it. My Freedom only has a limit of $500, so it keeps my spending in check. If suddenly my Freedom with all its rewards is over 8 grand then...well, I just don't trust myself.
I probably won't touch the Wells card though. Since the rate is low, itll be the last one I pay off anyway.
The exciting thing is my FICO is still slightly above average, so right now I qualify for home loans, but my wife and I agreed not to half-*** it and stick it out a few years to get a much nicer house and have all extra income for saving and what not as opposed to adding a house payment to all other debt -- minimal breathing room.
I used to work for Chase and you're right. It used to be they just transferred the credit line over and that was it. I told this to the guy over the phone, but he wasn't wise to it. I hung up and just don't feel a neccessary need right now to deal with it. My Freedom only has a limit of $500, so it keeps my spending in check. If suddenly my Freedom with all its rewards is over 8 grand then...well, I just don't trust myself.
I probably won't touch the Wells card though. Since the rate is low, itll be the last one I pay off anyway.
The exciting thing is my FICO is still slightly above average, so right now I qualify for home loans, but my wife and I agreed not to half-*** it and stick it out a few years to get a much nicer house and have all extra income for saving and what not as opposed to adding a house payment to all other debt -- minimal breathing room.
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View media item 2102741
Got my discover it card today, love the presentation
Got my discover it card today, love the presentation
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Yup good luck brotha. Adding even .01% on your mortgage can have a huge affect in the overall picture, and each bit of money you save will be noticed.
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Thank ya.
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That's fine, but that limit is still an issue, I already reach 2k monthly on recurring bills (rent, utilities, insurance, phone, Internet etc). This doesn't take in groceries or gas nor going out to eat, entertainment, and general spending. CL way to low for my needs to use it as my daily, which sucks because they have the max cash back points available. I would have rather just converted my other Citi card had I had known that.APRs shouldn't matter when you pay off the entire balance every month.
I just want the best perks
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I had a capital one card
Pretty average, I think classic. No rewards. No nothing.
They sent me a letter in the mail asking me if I'd like to upgrade it to quick silver. Did it, now let's see how the perks work
Pretty average, I think classic. No rewards. No nothing.
They sent me a letter in the mail asking me if I'd like to upgrade it to quick silver. Did it, now let's see how the perks work
