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

[moderndarwin]

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!

Thanks. Already have a few credit cards and i’m not really interested in the points etc. I’ll still use them to put recurring payments such as Netflix, Xfinity, car insurance, etc.

Trying to get a handle on monthly spending and want something I can use everywhere Visa is accepted but limits me.

 

[melo0115]

So, I'm wondering if it would be wise to refinance my car loan???

When I bought my car two years ago my credit score sucked. I was at like a 580, but i bought my car through this company who finds cars and loans for you. He got me a 9 percent interest rate on the loan.

I just bought my wife a car two months ago, and got 6 percent on her loan.

My credit score is like a 710 now. Since I just added a new car loan to my credit profile, would it hinder me getting a lowered rate on my car loan?

 

[ASE]

9 is very high. At 710 You should be able to refinance for a better rate.

 

[moderndarwin]

So, I'm wondering if it would be wise to refinance my car loan???

When I bought my car two years ago my credit score sucked. I was at like a 580, but i bought my car through this company who finds cars and loans for you. He got me a 9 percent interest rate on the loan.

I just bought my wife a car two months ago, and got 6 percent on her loan.

My credit score is like a 710 now. Since I just added a new car loan to my credit profile, would it hinder me getting a lowered rate on my car loan?

Yes. Please refinance. 9% is outrageous. Also if you don’t have the credit karma app i’d check it out.

 

[melo0115]

Yeah, i use that and the actual proper methods to check my actual scores..

 

[pitman13]

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

832, longest credit 12yrs

Longest credit is 16 years.

Recently, clients, friends and family have been encouraging me to write a personal finance book, so for 2020 I think I'm going to focus on that and who knows, maybe get it published. Never been scared to at least try something.

 

[eyanks]

My longest credit is 6.5 years. I'll be going for a mortgage in a few months. I don't like having to play the "credit game", but if you play it right you'll set yourself up well for when you need it.

 

[e$crilla]

wanna build credit don't use it

 

[fluid hips]

So, I'm wondering if it would be wise to refinance my car loan???

When I bought my car two years ago my credit score sucked. I was at like a 580, but i bought my car through this company who finds cars and loans for you. He got me a 9 percent interest rate on the loan.

I just bought my wife a car two months ago, and got 6 percent on her loan.

My credit score is like a 710 now. Since I just added a new car loan to my credit profile, would it hinder me getting a lowered rate on my car loan?

9% is robbery. Refinance ASAP

 

[melo0115]

9% is robbery. Refinance ASAP

SMH.. Something i should of done a long time ago.. Better late than never. Thanks guys.. my dad gets like 2 percent on his car.. he co signed for my sister she got like 4 P.. I knew 9 P was wack, but I guess I mentally shrugged it off.

 

[fluid hips]

SMH.. Something i should of done a long time ago.. Better late than never. Thanks guys.. my dad gets like 2 percent on his car.. he co signed for my sister she got like 4 P.. I knew 9 P was wack, but I guess I mentally shrugged it off.

Look into penfed or a local credit unit.

 

[e$crilla]

For the New Year, Say No to Negativity

Bad experiences affect us much more powerfully than good ones, but there are ways to deal with this destructive bias and overcome it

www.wsj.com

For those that can happy new year warriors keep the vision 2020

 

[freshpairs]

Anyone know the best way to refinance a private school student loan?

 

[pdino]

Anyone know the best way to refinance a private school student loan?

I'm doing now. Apply for a few quotes : I'm trying commonbond, first republic bank, and Credible. Most want a co-signor

 

[freshpairs]

I'm doing now. Apply for a few quotes : I'm trying commonbond, first republic bank, and Credible. Most want a co-signor

Have you heard of sofi? A few have mentioned it

 

[pitman13]

Have you heard of sofi? A few have mentioned it

I have and also recommended it to clients. No complaints so far.

 

[pitman13]

FICO Changes Could Lower Your Credit Score

 

[freshpairs]

Anyone know why amex would show my friends credit score at 632 but discover, chase and credit karma show 720+

 

[cs02132]

So they opened a chase by me and are offering a $200 sign up bonus when you meet a certain direct deposit. Went inside to sign up the other day but the guy couldn’t figure it out because I did the same thing at a different location over a year ago. He called some higher ups while I was there and they said I am definitely qualified (you can do it every 12 months) but the code doesn’t work because I already used it last time I signed up or something

he called me and said if I can find a code to enter online I should be good, but I cant find any codes, just click through links

anybody have any help?

 

[Brownstone]

Anyone know the best way to refinance a private school student loan?

SoFI is industry leading for a reason. My experience was top notch.

 

[Sonny Corinthos]

F credit score . I have over a 800 joint and I'm broke from paying bills early

 

[turbospartan]

So they opened a chase by me and are offering a $200 sign up bonus when you meet a certain direct deposit. Went inside to sign up the other day but the guy couldn’t figure it out because I did the same thing at a different location over a year ago. He called some higher ups while I was there and they said I am definitely qualified (you can do it every 12 months) but the code doesn’t work because I already used it last time I signed up or something

he called me and said if I can find a code to enter online I should be good, but I cant find any codes, just click through links

anybody have any help?

You can check Reddit.com/r/churning and see if someone can send you a referral code

Or doctor of credit - they have a bank account bonus list of different options

 

[maldonado]

some pages back someone mentioned a legit one. I would try Credit Karma free dispute. It's free. It's legit. It takes a couple clicks

Yup.

I only have 3 debts out there. I downloaded the Credit Karma app and disputed the first charge in a couple clicks. Surprisingly it got removed after 30 days. Disputed the second and didn't have the same luck. Disputed the last one and waiting to see what's up. You can only dispute one charge at a time.

Waiting on this secured cc now.

Hopefully wont be too long before I can get my score back on track.

 

[northoaklandfc]

Got the Apple Card recently because I'm deep in the ecosystem and I use Apple Pay regularly for small things like coffee when I'm out.

This titanium **** got me looking at the other cards I use (Barclays Arrival+ and Sapphire Reserve) funny, like level up.

Baddest one in the stable and she don't ever come out the house because, well, Apple Pay.

 

[tay1]

FICO Is About To Change Credit Scores. Here's Why It Matters


Credit scores for many Americans are about to change — even if they don't do anything.

The changes will be extensive. About 40 million Americans are likely to see their credit scores drop by 20 points or more, and an equal number should go up by as much, according to Joanne Gaskin, vice president of scores and analytics at FICO, the company at the heart of the credit scoring system.


Personal loans are growing faster than any other consumer debt category; Americans owe more than $300 billion on them. There are all kinds of personal loan offers in the mail, online and on TV. Many promise to lower your interest rate by consolidating credit card debt into a single loan.

For the first time, Gaskin says, FICO is breaking out personal loans as a distinct category to determine whether borrowers use them responsibly.

Why does that matter?

Let's say you pay off all your credit cards with a personal loan. Under the old system, your credit score might go up. But under the new approach, FICO will look back over a period of time — as far as two years — to see whether you've used the loan to reduce your high-interest credit card debt or whether you're using plastic as much as before, running up new revolving balances and falling deeper into debt.

"What we find is that potentially that consumer's credit file carries more risk than what was apparent," Gaskin says.

If your finances are in good shape and you already have a good credit score, you're likely to see your score improve, she says. But Gaskin says those whose scores will decline are typically people in the lower FICO score range, about 580 and below. (FICO scores range from 300 to 850.)

That's not good news for people who are struggling financially, says Marisabel Torres with the Center for Responsible Lending. "It sounds like we're penalizing people for getting into a bad situation."

Torres says people who already have low scores are most likely to see their scores go even lower — and that will worsen inequities in the credit system. With personal loans, people with good credit can qualify for good terms. But Torres says predatory lenders charge people with lower incomes very high interest rates.

FICO Is About To Change Credit Scores. Here's Why It Matters

The firm says 40 million Americans' scores will drop by more than 20 points, and a similar number will rise.

www.npr.org