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

[zunigrp]

What is a balance transfer(?)

How would it benefit me?

What is the process and how would be affect my credit score

 

[Los Angeles]

I need a balance transfer card like the Discover IT with a 0% apr for the first yr. My usage is about 80% right now (4k on ~5k limit). Scores are all in the 730ish range. Think I'll still get approved. 0 lates or deragatories.

chase slate?

 

[slicknick951]

What is a balance transfer(?)

How would it benefit me?

What is the process and how would be affect my credit score

If you have a balance on a card with a high interest rate some cards give you an option to transfer the balance to the new card that typically offers 0% interest for a promotional period.

I think there are fees so look into it.

Also can be used if you have a large balance on one card that is raising your utilization you can split it to two cards but im not sure if its worth it for that.

 

[simba king]

Applied for the Chase Freedom card last night, to add another card to the rotation...Got approved for $4500, not bad

 

[isco]

Applied for the Chase Freedom card last night, to add another card to the rotation...Got approved for $4500, not bad

Spend $500 in first 90 days u get $150

 

[agentorange]

How long should I wait until asking for a CLI ? Got my card in June. Also since requesting a CLI often results in a hard pull should I just apply for a new card instead ?

 

[slighted]

How long should I wait until asking for a CLI ? Got my card in June. Also since requesting a CLI often results in a hard pull should I just apply for a new card instead ?

If you have a Discover card, try to apply for a CLI now. It's not a hard pull.

 

[tay1]

Times was hard months ago, couldn't make payments, so my accounts closed. Even my CC that I had for like 5-6 years

Credit score used to be bomb but earlier in the year reached low 500s. Rebuilding now by paying off those cards. In in the late 500s now, approaching 600, but it sucks because I can't get approved for any card now.

 

[zunigrp]

Times was hard months ago, couldn't make payments, so my accounts closed. Even my CC that I had for like 5-6 years

Credit score used to be bomb but earlier in the year reached low 500s. Rebuilding now by paying off those cards. In in the late 500s now, approaching 600, but it sucks because I can't get approved for any card now.

I have a hard time being approved for anything but the basic credit cards (no bonus/high interest) and I'm at 730ish

I came from the low 6's. You'll get there eventually brother. Get a secured card and throw a decent amount of cash on it and wait it out.

 

[freshpairs]

Been stuck at 18k with discover. How yall get to 25k? Had the card for 1yr4mo and scores at 800+. They denied me twice back to bacl months. Waited 3 months and tried again and got denied.

 

[isco]

Never requested an increase..was just given to me after 6 months..all my cards

 

[had pants]

 

[dam itz lou]

I have a hard time being approved for anything but the basic credit cards (no bonus/high interest) and I'm at 730ish

I came from the low 6's. You'll get there eventually brother. Get a secured card and throw a decent amount of cash on it and wait it out.

With a 730 score you should be able to get approved for most cards. You can call their reconsideration line to see if there are any issues right after you apply.

 

[zunigrp]

With a 730 score you should be able to get approved for most cards. You can call their reconsideration line to see if there are any issues right after you apply.

Is it possible because I had a account go into collects? It was eventually paid off but it negatively effected my score for years. Or do they determine it purely off your score?

Its weird because I use the preapproval page given by most cc companies and all of them dont give me access to anything.

 

[isco]

Is it possible because I had a account go into collects? It was eventually paid off but it negatively effected my score for years. Or do they determine it purely off your score?

Its weird because I use the preapproval page given by most cc companies and all of them dont give me access to anything.

possibly

 

[dam itz lou]

Is it possible because I had a account go into collects? It was eventually paid off but it negatively effected my score for years. Or do they determine it purely off your score?

Its weird because I use the preapproval page given by most cc companies and all of them dont give me access to anything.

They might not approve you because of that right away, but like I said just call the reconsideration line next time and explain the situation. 730 is a great score with a collections account on your report.

 

[Brownstone]

Discover stats stingy with me on cli. Sitting at 3k over a year in with several requests, only giving me 500 at a time. Keeping the card. It still. It sucks!

 

[townbidness]

Discover stats stingy with me on cli. Sitting at 3k over a year in with several requests, only giving me 500 at a time. Keeping the card. It still. It sucks!

Lie on your income. Say you make 80-100k. They wont check.

 

[Sonny Corinthos]

This is a very good book on building your finances

 

[Brownstone]

Lie on your income. Say you make 80-100k. They wont check.

That is my income though, and I state that.....

 

[slighted]

That is my income though, and I state that.....

Put $500k instead.

 

[Brownstone]

Naw I am good, I understand this credit game is not an exact science, but my Amex limit is up to 24k and got it around the same time as my discover card. Oh well.

 

[Bert.]

Lie on your income. Say you make 80-100k. They wont check.

You don't know that..

Lie and get caught and see what happens

 

[dam itz lou]

Dude said just put $500k instead.

I say just go for the cool mill...

 

[townbidness]

idk discover has been pretty good to me. Im over 20k in limit.