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

turbospartan said:
Snowball / avalanche method
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Could also try transfering the balance of one or multiple cards charging interest. To a zero interest for 18 months or so card. So, you can hulk buster that principle up. But that only works if your credit is good enough to get approved for one..
 
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i need tradelines, can anyone add me to their **** so i can boost my new credit? i dont want the card, keep it, i just wanna boost my score... :emoji_disappointed_relieved:
 
townbidness said:
any family or good friends?
Dont think its a good idea to give out your SS to strangers online.
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i dont even have an SSN. im canadian, so I opened an LLC, got an EIN, and then I got an ITIN through my EIN.

an ITIN is basically a business provided equivalent of an SSN.

i was able to get accepted for a amex business blue cash card through my ITIN today, but I wanna build credit fast for it so that I can get more cards, thus having more available credit, thus having a low credit utilization rate, enabling me to get a line of credit, thus satisfying the need for 'mixed credit', and etc.
 
iamdef said:
After years of trying to stay on top of what little I have on my credit, it'll be a year in Jan since I was approved for my current Capital One secured card. I believe in Jan or Feb I can expect my limit to increase again and I would like to apply for a regular credit card once that hard pull drops off in Jan.

Not sure where I wanna take my talents to but I know I'll keep that secured joint for a few years. Do you guys suggest I wait longer after that hard pull falls off or my plan of applying elsewhere is on par?
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I’ll always recommend discover IT for a “beginners” card. That first year cash back match is hard to beat, I wish I could do it again :lol:
 
I already own 2 credit cards but is it smart to open up a secure card? I’m trying to speed this getting my credit better faster. Or it’s not point and I should just keep worrying about knocking down my credit debt instead ?
 
Never missed a CC payment until today. Just completely skipped my mind. SMH.

I see the minimum payment is now doubled. Is that to make up for the missed payment, or is my minimum now going to be permanently higher?
 
TrafficLightBully said:
I already own 2 credit cards but is it smart to open up a secure card? I’m trying to speed this getting my credit better faster. Or it’s not point and I should just keep worrying about knocking down my credit debt instead ?
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You should not focus on opening credit cards. Instead, focus on the CC debt. Opening more cards will put you in a deeper hole. Your scores will raise on their own when you pay off the debt.
 
Just got the citi double rewards card. Seems legit.

I guess my credit is better now. I got a ‘Mercian express offer too. It was AWFUL like 3 years ago in the 400s. I’m at 720 now.

just charged small stuff and payed it off for the most part every month and financed a truck and made double payments and it shot up.
 
TrafficLightBully said:
I already own 2 credit cards but is it smart to open up a secure card? I’m trying to speed this getting my credit better faster. Or it’s not point and I should just keep worrying about knocking down my credit debt instead ?
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You can kind of do both. Opening a new card will hurt your credit score with the inquiry, and you don't want to many hard ones. But it will also raise the amount you can borrow if approved.

So for me: I opened up new cards when I felt i'd get approved 100%, I was usually 90 percent right. You can lower your credit ratio percent by getting access to more borrowing capital. It just depends if you have the time... Or if you want to go that route. People have smart logical strategies, but you can also just do risky logical things. lol
 
Anybody here have any first hand experience churning? I know there’s the reddit but just wanna ask for a real example

I want to get the 60k points from chase sapphire but I won’t be able to do $4,000 in 3 months

I need to find a way to churn without spending any, or a small amount of $$

besides the fees could I not just send someone I know 4K on PayPal/cash app/Venmo, withdraw it and then pay the bill?? Sounds too easy
 
cs02132 said:
Anybody here have any first hand experience churning? I know there’s the reddit but just wanna ask for a real example

I want to get the 60k points from chase sapphire but I won’t be able to do $4,000 in 3 months

I need to find a way to churn without spending any, or a small amount of $$

besides the fees could I not just send someone I know 4K on PayPal/cash app/Venmo, withdraw it and then pay the bill?? Sounds too easy
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It depends on the card and how they classify P2P transactions, I've found most cc companies are pretty liberal.

Barclay Arrival+ used to have a great sign up bonus and they treat PayPal/Cash App,Venmo transactions no differently than any other POS transaction, so those services can be used to meet spending requirements and to acquire points.

Goes without saying but be careful with fees and obviously never pay any interest on spending. Venmo fee for credit card transactions is 3%.

After spending $4K to earn a 50K bonus you just devalued your bonus by 25%.
 
cs02132 said:
Anybody here have any first hand experience churning? I know there’s the reddit but just wanna ask for a real example

I want to get the 60k points from chase sapphire but I won’t be able to do $4,000 in 3 months

I need to find a way to churn without spending any, or a small amount of $$

besides the fees could I not just send someone I know 4K on PayPal/cash app/Venmo, withdraw it and then pay the bill?? Sounds too easy
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You gotta spend to churn. What you're referring to is MS, which is "manufactured spending" and different companies classify them differently. Some people use the CC to buy money orders then cash in the money orders to pay off the CC. But some places think you're pulling fraud **** if you keep buying money orders or Visa gift cards etc.
 
kvsm23vs24 said:
I would just bu gift cards :lol:

over the course of 3 months is easy.
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You could do that too. Buy them at Kroger and you get points towards fuel discounts. That said, don't buy the Visa gift cards because they charge a $5-6 fee to activate, which cuts into your "profit"
 
I want to try budgeting better for my girl and I. Credit score already in the 800s so not worried about that.

Want to have a $500 reloadable Visa credit card (like I load $500 onto it). Want to limit my disposable monthly spending to that. Seems like tons of fees and etc for secured credit cards though. Anyone have any experience or suggestions?
 
My dad showed me his credit score the other day.. it was 838, 12 points away from being perfect. Guess that’s what happens when you do everything to the T for like 35 years :lol:
 
moderndarwin said:
I want to try budgeting better for my girl and I. Credit score already in the 800s so not worried about that.

Want to have a $500 reloadable Visa credit card (like I load $500 onto it). Want to limit my disposable monthly spending to that. Seems like tons of fees and etc for secured credit cards though. Anyone have any experience or suggestions?
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Why not just get a credit card such as Discover, Chase, BoA, Wells Fargo, etc as I'm sure you will be approved for either one and manage your $$ like that and earn rewards/points as well for doing so. If that's not your aim then I would shoot for opening a checking account aside from my main bank and put only money in that account that you've budgeted to spend. Just a thought!
 
Credit score is the least of my problems . I pay off all my bills well before on time , I need to find a city job and move to Philly or Miami
 
cs02132 said:
Anybody here have any first hand experience churning? I know there’s the reddit but just wanna ask for a real example

I want to get the 60k points from chase sapphire but I won’t be able to do $4,000 in 3 months

I need to find a way to churn without spending any, or a small amount of $$

besides the fees could I not just send someone I know 4K on PayPal/cash app/Venmo, withdraw it and then pay the bill?? Sounds too easy
Click to expand...
that's why you should check reviews or info on that specific card before getting it. I would only do that if Venmo payments are allowed.

I don't mess with PayPal anymore and wouldn't risk some limitation over that amount of cash being transferred, even then can happen with Venmo but less likely.

if chase sapphire allows it and you find out, I might jump on board as well.
 
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