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

Just got a Discover It card end of December and they randomly gave me a $2000 increase a few days ago. Does Discover do this all the time?

yes as long as ur making payments on time they will increase it and keep doing it

I didnt even know they did that to mine
 
I've never done anything extra / requested anything. My last card I signed up for (CSR), they gave me a limit of $22k. Not sure how they decide on the # though, as my wife (who makes less than I do) also got the same card and her credit limit was $34k

Yeah I have two personal cards and one for work. I use the work almost exclusively due to everything I do is related to it.

Tempted to get another that is really good with points and then have the company reimburse me monthly...
 
Yeah I have two personal cards and one for work. I use the work almost exclusively due to everything I do is related to it.

Tempted to get another that is really good with points and then have the company reimburse me monthly...

You should get the Chase Sapphire Reserve if you do a lot of traveling for work and getting quick bites while on the road for work. 3x back on that category and Chase probably has the best rewards program of all the major credit card issuers.
 
Yeah my GF has it and I’ve seen the 50k points after 4 months of spending promo.

Is that basically the best?
 
I'm curious, do most use their credit card(s) for purchases throughout the month/statement period and then pay them off when the statement is due?
 
I'm curious, do most use their credit card(s) for purchases throughout the month/statement period and then pay them off when the statement is due?

I pay it all off before my due date.
Example: Due date is 5th of every month. I pay it on the 3rd (2 days to clear), so it reports $0 on the statement.
 
Yeah my GF has it and I’ve seen the 50k points after 4 months of spending promo.

Is that basically the best?

Rumors are swirling around that a new promo for the CSR will be out, but they're just rumors. Note that you can only technically sign up for one Chase Sapphire card at a time. But the loophole is that you can apply for both the CSR and CSP for both 50k bonuses.


I'm curious, do most use their credit card(s) for purchases throughout the month/statement period and then pay them off when the statement is due?

Let statement cut. Pay in full.

I pay it all off before my due date.
Example: Due date is 5th of every month. I pay it on the 3rd (2 days to clear), so it reports $0 on the statement.

But why?
 
I'm curious, do most use their credit card(s) for purchases throughout the month/statement period and then pay them off when the statement is due?

Yea - I never use my debit. Charge it all on my credit card(s) and pay it off a day before the statements cut to report a 0 balance to the credit bureaus.
 
Yeah my GF has it and I’ve seen the 50k points after 4 months of spending promo.

Is that basically the best?

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I pay it all off before my due date.
Example: Due date is 5th of every month. I pay it on the 3rd (2 days to clear), so it reports $0 on the statement.

If you choose to pay your credit card account before your statement actually closes, you’ll have a balance of $0. This will then be reported to the credit bureaus. The next month, you do the same thing and again have $0 reported. If you continue on this cycle, your amounts owed (commonly referred to as your credit utilization rate) will remain at 0%, but your payment history will also be nonexistent. Think about it; because you pay your balance before your issuer can even report your balance to the credit bureaus, it appears that you are simply not utilizing your credit card account(s). Remember that your credit score is a reflection of how well you manage the credit line that has been extended to you, so if it appears like you aren’t using your card, there’s no reason for your score to go up.

https://thepointsguy.com/2016/11/debunking-credit-card-myths-does-paying-before-due-date-help-score/
 
sure but why are you guys ignoring payments made? that counts for nothing? makings hundreds of on time payments means nothing?
 
Copying this from a previous comment of mine:

Here are 3 options, assume limit if $500.

Scenario 1:

May 5th -- You charge $40 in gas

May 6th -- You go online and pay $40

May 31st -- Billing period ends, Bill is $0, your credit utilization is 0%.

Scenario 2:

May 5th -- You charge $50 in gas

May 6th -- You do nothing

May 31st -- Billing period ends, Bill is $50 due June 30th, minimum due is $25, your credit utilization is 10%.

June 30th (or earlier if you want) -- You pay the $50, which means you never owe interest.

Scenario 3:

May 5th -- You charge $50 in gas

May 6th -- You do nothing

May 31st -- Billing period ends, Bill is $50 due June 30th, minimum due is $25, your credit utilization is 10%.

June 30th (or earlier if you want) -- You pay the $25, which means you will owe interest on the remaining $25. Leaving $25 on your account is what is called carrying a balance.

Scenario 2 is best for your credit. It proves you can use credit responsibly, as credit bureaus like to see less than 30% utilization.

Scenario 1 doesn't help your credit much because credit bureaus look at you and see you as someone who is "not using credit", which they don't count as the same as "being able to use credit responsibly".

Scenario 3 means you pay interest, which is a bad idea.


If you pay it off before the statement date, your credit card may show 0 utilization (meaning it looks like you never used the card). While LOW card utilization is typically seen as good, NO utilization can be bad.
 
Yeah my GF has it and I’ve seen the 50k points after 4 months of spending promo.

Is that basically the best?

It used to be 100k points, but then they bumped it down to 50k. I like the card overall, though. 3x point on any travel, $300 in travel "credits" that just cancel out $300 worth of purchases, etc. Downside is the $450 annual fee, but you're getting $300 "free" money in travel credits so its really only $150 per year. Plus, you get a $100 credit if you sign up for TSA precheck or global entry, and you get free membership to Priority Pass (airport club in random airports across the globe).

I'm curious, do most use their credit card(s) for purchases throughout the month/statement period and then pay them off when the statement is due?

I use my credit card for 100% of purchases (besides :smokin which is cash only) and just pay it off in full by the due date. Never pay it before, or half now half later, etc. Credit is 810+
 
It used to be 100k points, but then they bumped it down to 50k. I like the card overall, though. 3x point on any travel, $300 in travel "credits" that just cancel out $300 worth of purchases, etc. Downside is the $450 annual fee, but you're getting $300 "free" money in travel credits so its really only $150 per year. Plus, you get a $100 credit if you sign up for TSA precheck or global entry, and you get free membership to Priority Pass (airport club in random airports across the globe).

Yeah she got the 100k in points.

Should I just wait for an offer to come in the mail or keep my eye out for a top notch one?
 
That Reddit Forum is overloaded with info.

Seems the Southwest move is interesting. Get that companion pass and can change the name 3x...
 
Signed up for the amazon visa. $70 amazon gift card for signing up, 5% on amazon and Whole Foods, 2% at gas stations and restaurants, 1% everywhere else. It’s through chase so I just need to figure out how they do their rewards points and I may make this my main card. Wonder if I can combine my regular UR points and these or if they are separate

It’s one of those thick heavy cards too. My first one :pimp: :pimp:
 
Signed up for the amazon visa. $70 amazon gift card for signing up, 5% on amazon and Whole Foods, 2% at gas stations and restaurants, 1% everywhere else. It’s through chase so I just need to figure out how they do their rewards points and I may make this my main card. Wonder if I can combine my regular UR points and these or if they are separate

It’s one of those thick heavy cards too. My first one :pimp: :pimp:

What was the limit they gave you if you don’t mind me asking?
 
You only get charged APR if you don't pay your card in full every month right?
Also, I'm planning on getting a new card that will benefit towards points for flights please recommend me one thanks!
 
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