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

[rbk93]

Alright so I guess it only affects you if you leave a balance on their carrying over to the next bill statement. In that case, I should be good as I do plan on paying it off every month to avoid interest.

 

[isco]

Best Buy just increased my limit by a G

 

[Bert.]

Best Buy just increased my limit by a G

randomly? I had got a card from them last year knowing I was buying something, made 1k purchase and paid it off with two $500 payments

surprised they didn't up my limit or anything

 

[isco]

randomly? I had got a card from them last year knowing I was buying something, made 1k purchase and paid it off with two $500 payments

surprised they didn't up my limit or anything

Yes..so did Chase and Discover..but I had the BB card for years..this took a while..never requested any increase with any of my cards..u can call to request an increase but they will most likely do a hard pull to ur credit score

 

[Bert.]

nah its fine, I don't use it. just thought after a year and using it and making the two big payments to pay it off would give me a boost with them

a card recently gave me a big boost randomly, I had used it once

 

[bluntobject50]

nah its fine, I don't use it. just thought after a year and using it and making the two big payments to pay it off would give me a boost with them

a card recently gave me a big boost randomly, I had used it once

You used the card once.. They typically base limit increases on actual spending.

 

[Bert.]

nah its fine, I don't use it. just thought after a year and using it and making the two big payments to pay it off would give me a boost with them

a card recently gave me a big boost randomly, I had used it once

You used the card once.. They typically base limit increases on actual spending.

True but I've always experienced when I've made a big purchase and made 1-2 big payments to pay it off and they would increase the limit

 

[simba king]

How's the Citi Simplicity card?? Anybody got it...Pro/Cons

 

[Kaleo15]

Really debating on applying for Chase Unlimited.

How much do they Chase usually approve you for?

 

[based mod]

I **highly** recommend you guys with decent credit to read the following flowchart. Basically, you want to get your choice of Chase cards before you hit their hard limit of 5 total credit cards (from any bank/issuer) issued within the last 24 months (hence the term "5/24").


http://75.127.15.73/Card Recommendation Flowchart v3.html

To summarize: this flowchart offers a general, subjective guide to which credit cards to get in what order to maximize your overall churning profits, whether you're under 5/24 and chasing the SW companion pass, or over 5/24 and chasing cashback, or even a student brand-new to the churning game - and a few things inbetween, though it is geared towards helping new and new-ish churners plan out applications, not those of you who are 20+/24 (but maybe you'll find something useful in it too?).
It also attempts to answer the questions that I see come up most often in What Card Wednesday, in order to, I (selfishly) hope, decrease the amount of typing I do every week in that thread.
This flowchart obviously won't cover every situation, and it doesn't take into consideration reaching a specific destination; the advice here aims to maximize your points and miles in general (particularly flexible points) with an eye toward travel, especially international F and J travel. But, to repeat, this is a general (and subjective) guide, not absolute truth.
This flowchart is also not a replacement for reading the wiki and the other excellent guides in the sidebar, though it does attempt to distill the most important and oft-asked topics concerning credit card recommendations and application strategies.
I will update the flowchart in this post occasionally (by editing this post), as new cards enter the market and old ones are discontinued, but the flowchart will not be updated to reflect every temporarily increased sign-up bonus.

As always, hit me if you want a referral link

 

[based mod]

How's the Citi Simplicity card?? Anybody got it...Pro/Cons

Don't have it, but just looking over it......why would you want that card? There's no cashback or points system.

Really debating on applying for Chase Unlimited.

How much do they Chase usually approve you for?

Chase is usually pretty stingy with credit limits. How much you'll get will depend on your credit score and income, among other things.

If you have decent credit, I would first try for the Sapphire Reserve & Sapphire Preferred. If your home airport is a Southwest hub, definitely check the Southwest cards (wait for the bonus to get to 50,000 Rapid Rewards points again). Then I'd get the Chase Freedom (not unlimited) for the 5% bonus. And probably lastly the Freedom Unlimited.

 

[Brownstone]

just got Amex up to 20k, should have requested a higher increase

 

[LebronHasMoreFinalsMVPs]

just got Amex up to 20k, should have requested a higher increase

business card or personal?

 

[Brownstone]

business card or personal?

Personal.

 

[Brownstone]

Really debating on applying for Chase Unlimited.

How much do they Chase usually approve you for?

Do not go with chase. Terrible card. Never use it.

*Bad online/mobile app

*Hard inq for everything

*Stingy with increases

 

[based mod]

Really debating on applying for Chase Unlimited.


How much do they Chase usually approve you for?

Do not go with chase. Terrible card. Never use it.

*Bad online/mobile app
*Hard inq for everything
*Stingy with increases

Lmao. Right.

How in the world are a lot of us flourishing with free hotels and international flights?

 

[Benny Hinn]

Really debating on applying for Chase Unlimited.


How much do they Chase usually approve you for?

Do not go with chase. Terrible card. Never use it.

*Bad online/mobile app
*Hard inq for everything
*Stingy with increases

View media item 2430526

 

[Brownstone]

Lmao. Right.

How in the world are a lot of us flourishing with free hotels and international flights?

Do you like the app?

Have you been approved for a cl increase without a hard hit?

I have other cards I prefer, jmo.

I was not coming at the rewards. Flourish on!

 

[flyerthandelta]

Is it true that its best to keep your credit card balance at a minimum of 30%??

 

[3stheluckynumbe]

Is it true that its best to keep your credit card balance at a minimum of 30%??

Best not to go above 30% utilization.

$1000 limit, don't go over $300

Also, don't carry a balance to the next month, paying interest in the hopes of improving credit score is backwards af

 

[flyerthandelta]

Is it true that its best to keep your credit card balance at a minimum of 30%??

Best not to go above 30% utilization.

$1000 limit, don't go over $300

Also, don't carry a balance to the next month, paying interest in the hopes of improving credit score is backwards af

Wait so you saying its better to not have a balance carrying into the following month?

 

[based mod]

Lmao. Right.


How in the world are a lot of us flourishing with free hotels and international flights?

Do you like the app?

Have you been approved for a cl increase without a hard hit?

I have other cards I prefer, jmo.

I was not coming at the rewards. Flourish on!

I don't use the app. What do you need it for?

I honestly don't care about the credit limits issued to me cause I don't ever come close to hitting it and I don't ever request an increase from chase.

 

[based mod]

Is it true that its best to keep your credit card balance at a minimum of 30%??

Best not to go above 30% utilization.

$1000 limit, don't go over $300

Also, don't carry a balance to the next month, paying interest in the hopes of improving credit score is backwards af

Wait so you saying its better to not have a balance carrying into the following month?

Well yea, otherwise you're paying interest. The only things most people should be paying interest on are cars and houses.

 

[flyerthandelta]

Is it true that its best to keep your credit card balance at a minimum of 30%??

Best not to go above 30% utilization.

$1000 limit, don't go over $300

Also, don't carry a balance to the next month, paying interest in the hopes of improving credit score is backwards af

Wait so you saying its better to not have a balance carrying into the following month?

Well yea, otherwise you're paying interest. The only things most people should be paying interest on are cars and houses.

Ok so let me get this then for instance if the total credit card limit is 500$ go into the next month with 0$ or 500$ im just trying to understand cause i always thought 30% utilization was the best...

 

[3stheluckynumbe]

Ok so let me get this then for instance if the total credit card limit is 500$ go into the next month with 0$ or 500$ im just trying to understand cause i always thought 30% utilization was the best...

For building purposes, as well as saving money, it's good to have less than 30% (the less the better) at your statement date. That's the date where transactions for the month are cut off. Your due date is usually about 30 days later. Pay the full balance before the DUE DATE. Otherwise, you end up paying interest, depending on interest rate on the card, you could pay more than you needed