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

I'm barely cracking $200 on my Discover card and my year is up next month smh.

I've been trying mad hard to get to $500 :lol:. I buy a lot **** for my friends and at work and they just give me cash. I def wouldn't reach it if it was just my normal spending (still prob won't)
 
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Funny story about having a metal card.

Pulled it out of my wallet the other day dropped it and now it has dents lol

Might say I lost mine so I can a new one :lol:
 
Might go buy some gift cards at my local gas station to take advantage of the 5% before it ends next week. Just talked to a discover rep and she said it will still be 5% if I go inside to "buy a drink" or whatever
 
Huh, under 9% of what? The statement balance?

Thought anything due that is not paid off is subject to interest, maybe I'm wrong
9% utilization.  If your credit limit was $1000, and you spent $90 - that would be a 9% utilization. 

Anything that is not paid off by your due date, will incur interest from the date you made the charge until the time you pay it off.   I made this mistake once, and let some trivial amount "carry over" to the next billing cycle, and was charged interest from the time of the current cycle until the time the next month was paid off. 
 
9% utilization.  If your credit limit was $1000, and you spent $90 - that would be a 9% utilization. 

Anything that is not paid off by your due date, will incur interest from the date you made the charge until the time you pay it off.   I made this mistake once, and let some trivial amount "carry over" to the next billing cycle, and was charged interest from the time of the current cycle until the time the next month was paid off. 

This happened to me recently... I wild n' out during XMAS and paid the balance off... Then I got a notice saying that My Statement was ready.

I almost ignored it but I logged in and had a balance
 
a $2000 limit on a card how would you manage your spendings? Assuming you pay it off in full every month. No more than 10% every month ($200)?
 
a $2000 limit on a card how would you manage your spendings? Assuming you pay it off in full every month. No more than 10% every month ($200)?

Not that hard.
Spend a few hundred, pay a few hundred.

Cc companies will ever stop you from making a payment.
 
 
a $2000 limit on a card how would you manage your spendings? Assuming you pay it off in full every month. No more than 10% every month ($200)?
Use it as much as you want and just pay it down before your statement cuts since thats when they report your balance (whatever the amount is on your statement bill) to the credit agencies. So the key once again is to know when the day your statement cuts. For example, if your statement cuts on the 30th, you could of have a balance of 1800 out of 2000 which is 90% usage on the 27th  but if you pay it off that day or the 28th, by the time the 30th rolls around your balance is $0 and thats what gets reported so your utilization is low and your scores stay high. People often get mixed up with statement cut dates and due dates. In the example above, if you didn't do that and you let that balance cut with $1800 out of $2000. That $1800 gets reported and it looks like you nearly maxed out your card to the credit agencies, also EVEN though you pay it off in full after the statement cuts but  before the due date it doesn't matter as it was already reported. Short conclusion: Paying it off in full after you get the bill doesn't matter, you should pay it off before the cycle closes and before the bill gets generated if you want to max out your score and show lower utilization all while using your card all you want. 
 
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If you are flying Domestically I HIGHLY suggest transferring your points to Southwest to book flights.


I'm flying Dallas to NYC (Back Home) in September. With Southwest it would be 9,500 miles and $11. I can literally get 2 Roundtrips for less than one with the other airlines. And more Free benefits.

Southwest has 2 free checked bags, No change fees, Entertainment, Snacks Provided (3+ Hour Flights)



- With American Airlines it would be 25K miles and $36 :smh:

- With United it would be 25K Miles and $12 :smh:
 
Got a CLI about a month ago on my Chase Freedom card. Score shot up 40 points on Credit Karma. :wow: :lol:

It's lit. :smokin
 
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I am now at the tough part of the journey. Sitting at 760, and pushing for the 800 club.

This thread should get thread of the decade imo.
 
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I am now at the tough part of the journey. Sitting at 760, and pushing for the 800 club.

This thread should get thread of the decade imo.
you won papi

if you have real life things... mortgage,car etc in your name you dont ever need more than a 740 for anything to get the best rates
 
Checked out my credit score for the first time since my employer offered a free promo. Equifax 759. Not really surprised. Only have 1 cc and pay balance in full every time I use it. It all makes senses how my credit limit jumped from $500 to $12,000 when I finally asked for a CLI, lol.
 
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What's the most a credit score can jump in a short period? Is it possible to go from 550 to 700 within a year?
idk but someone let us know 
nerd.gif
 
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