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

Just paid off my AMEX today, exactly 1 year from opening it. Also downgraded to the blue card with no annual fee, which I will shred soon as I get it. Feels good man.

Opened a Capital One Venture. They only gave me 5k but I'm sure they'll do a few increases with out me asking. I'm just gonna buy my ring so I can get my points and pay it off like $100 a month. I plan on having pretty much everything else including my car paid off by June. I wanna see what life feels like only paying for rent and food and other small bills like internet/phone and insurance. I've never really kept much money in my checking and I don't have a saving account, just my 401k that is pretty healthy but I can't touch that anytime soon so I kinda feel like it's a waste and I'd rather have it now but I don't need it so I'll let it be at 6% of my income.
 
slaughterx said:
Just paid off my AMEX today, exactly 1 year from opening it. Also downgraded to the blue card with no annual fee, which I will shred soon as I get it. Feels good man.

Opened a Capital One Venture. They only gave me 5k but I'm sure they'll do a few increases with out me asking. I'm just gonna buy my ring so I can get my points and pay it off like $100 a month. I plan on having pretty much everything else including my car paid off by June. I wanna see what life feels like only paying for rent and food and other small bills like internet/phone and insurance. I've never really kept much money in my checking and I don't have a saving account, just my 401k that is pretty healthy but I can't touch that anytime soon so I kinda feel like it's a waste and I'd rather have it now but I don't need it so I'll let it be at 6% of my income.
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I can’t waut till the day comes where I only have to pay rent and other small bills
 
My company is merging with another. I have some options, but what im going to do is:

Take my pension out and roll my 401k over (about 16k each)

Taking my pension now will allow me to be debt free besides my house and car. Im not struggling or anything but my credit cards i owe on just hang over my head and Its all i think about lol.

Trying to really start saving and being smarter financially now that im 26. This will really help me out
 
Highest credit score I've ever had

tumblr_pn2z40lx4w1qbksez_500.jpg
 
Pro’s & Con’s of a Credit Card to transfer a balance besides the obvious?


1.) Opening A New Line Of Credit
2.) Not Paying Off Balance Before Promo Ends


Any recommend cards to look at?
 
man one of yall add me as an authorized user on ur CC i dont even want the card just get it shipped to ur own address i just need a boost in my score
 
pitman13 said:
Correct. I recently requested CLI for both Discover and AMEX & now I have a $30K limit on both cards.
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God damn. Congrats bro

My max limit is 12k with BOA. I have like 10+ cards with a combined limit of around 44k. I wanna be over 100k!!!

It’s not like I need the additional credit or anything. I just want a higher credit limit just because, but all these credit card companies are denying my requests for a higher credit limit because of too many inquiries. Lol

I did chill from churning credit cards to churning Checking/Savings accounts. Hopefully by the time they stop giving me deposit accounts all my credit card inquiries will have expire then I can start another round of credit card churning and start requesting for credit increases.
 
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****, I've been asking Chase to reduce my credit limits so it doesn't affect me when I continue opening new cards...

If your combined CL is too high, they can deny new cards.
 
supersaiyangod said:
man one of yall add me as an authorized user on ur CC i dont even want the card just get it shipped to ur own address i just need a boost in my score
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My mom and siblings piggy backing off me when I added them as authorized users. Not one of them even has a physical card :lol:
 
fastersons said:
God damn. Congrats bro

My max limit is 12k with BOA. I have like 10+ cards with a combined limit of around 44k. I wanna be over 100k!!!

It’s not like I need the additional credit or anything. I just want a higher credit limit just because, but all these credit card companies are denying my requests for a higher credit limit because of too many inquiries. Lol

I did chill from churning credit cards to churning Checking/Savings accounts. Hopefully by the time they stop giving me deposit accounts all my credit card inquiries will have expire then I can start another round of credit card churning and start requesting for credit increases.
Click to expand...

Me too. I can’t get any more cards for a bit I keep getting denied for opening too many accounts :lol: I tried in November and a couple weeks ago and got denied for both (2 diff cards). Prob won’t try again this year

Done a couple bank accounts. Only bad thing is you gotta pay taxes on them. I opened a chase account and got a tax form in the mail

Gonna do this soon though https://banking.citi.com/cbol/check...1&ProspectID=48B3E72649B24189B3A9D7DF7F2CF8FA
 
If anybody is working on their business credit let me know. In the middle of the process right now and should qualify for high limit cards in a few months. Business credit cards have way higher limits than personal if anyone's interested
 
Business credit limits really depend on your business revenue and spending.

But yes, my business cards do have higher limits. My highest begin the Cap1 Spark which is at $100k right now. I gotta pay it down before statement cuts for utilization purposes because it reports to my personal credit. Love the CB I get on that thing.
 
leemelone said:
If anybody is working on their business credit let me know. In the middle of the process right now and should qualify for high limit cards in a few months. Business credit cards have way higher limits than personal if anyone's interested
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i opened an LLC but im foreign so i dont have an SSN (i also dont have an ITIN).
I just got my EIN, I have an US address where I can receieve things. I was wondering if i have all the things required to open a business bank acct + cc
and if I could do it online or if I have to show up in person. if i do have to show up in person i'd have to take a flight, so i kind of need to know beforehand if EIN + Address + foreign passport + all LLC registration documents is enough... and which bank would accept the combo of this.

I know some banks only accept SSN.
 
supersaiyangod said:
i opened an LLC but im foreign so i dont have an SSN (i also dont have an ITIN).
I just got my EIN, I have an US address where I can receieve things. I was wondering if i have all the things required to open a business bank acct + cc
and if I could do it online or if I have to show up in person. if i do have to show up in person i'd have to take a flight, so i kind of need to know beforehand if EIN + Address + foreign passport + all LLC registration documents is enough... and which bank would accept the combo of this.

I know some banks only accept SSN.
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Yeah it varies from bank to bank. I went with Wells Fargo and everything you listed is fine but I think you need two forms of ID and yea you have to show up in person. And your 'place to receive things' has to be an office or residence, not a PO box or anything. You can easily call or email to verify beforehand tho. B of A is pretty straightforward too. And if you haven't actually established business credit you will have to PG with your personal credit
 
leemelone said:
Yeah it varies from bank to bank. I went with Wells Fargo and everything you listed is fine but I think you need two forms of ID and yea you have to show up in person. And your 'place to receive things' has to be an office or residence, not a PO box or anything. You can easily call or email to verify beforehand tho. B of A is pretty straightforward too. And if you haven't actually established business credit you will have to PG with your personal credit
Click to expand...

awesome, thanks. does the bank have to be located in the same state as the LLC? same state as the residence (place where i receieve stuff) ? or does that not matter? thanks for this info though ill definitely check fargo and BOA and hit their custy supp
 
lilchico4life said:
Business credit limits really depend on your business revenue and spending.

But yes, my business cards do have higher limits. My highest begin the Cap1 Spark which is at $100k right now. I gotta pay it down before statement cuts for utilization purposes because it reports to my personal credit. Love the CB I get on that thing.
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What kind of business do you have?
 
cs02132 said:
Me too. I can’t get any more cards for a bit I keep getting denied for opening too many accounts :lol: I tried in November and a couple weeks ago and got denied for both (2 diff cards). Prob won’t try again this year

Done a couple bank accounts. Only bad thing is you gotta pay taxes on them. I opened a chase account and got a tax form in the mail

Gonna do this soon though https://banking.citi.com/cbol/check...1&ProspectID=48B3E72649B24189B3A9D7DF7F2CF8FA
Click to expand...
Thanks for link. Imma jump on board

Btw, i just finished a 200$ Wells Fargo checking bonus and now they have an offer for 400$ Smh
 
lilchico4life said:
Business credit limits really depend on your business revenue and spending.

But yes, my business cards do have higher limits. My highest begin the Cap1 Spark which is at $100k right now. I gotta pay it down before statement cuts for utilization purposes because it reports to my personal credit. Love the CB I get on that thing.
Click to expand...

You don't have a paydex score? Pretty sure you can get cards that don't report to your personal credit. I'm in the process of that now

supersaiyangod said:
awesome, thanks. does the bank have to be located in the same state as the LLC? same state as the residence (place where i receieve stuff) ? or does that not matter? thanks for this info though ill definitely check fargo and BOA and hit their custy supp
Click to expand...

I'm not 100% but I think if you do that you can get caught up with doing business in a different state than you registered and end up in hot water. Best bet is to try to keep everything centralized
 
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