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

turbospartan said:
Agreed. Unless you really NEED a new car, drive whatever you have until the wheels fall off. Just keep paying down your debt / saving / investing, and don't worry about the new car right now.
Click to expand...
Yeah, I've had my accord since 2017 and i'm just going to ride with that until that electric bronco comes out. Pay like half on that car. Unless the ride share economies start hub like subscription based autonomous setups in every city to where your need for a car is tremendously less.
 
nawghtyhare said:
i got the rose gold amex
:smh:
its kinda girly
but i dont wanna change it back to the regular gold
cause its unique :lol:
lemme know if anyone wants the rose gold amex referral
i think u can only get a rose gold one
by a person who has one
Click to expand...

I thought the rose gold was limited edition? If you refer someone they’re probably gonna them the regular gold card.
 
from the site


The only way to get the rose gold variant is via referral from an eligible American Express cardmember. Referrals can be made through the mobile app or this site. Most cards are eligible to generate a referral, except for AmEx’s hotel and airline co-branded cards.



903EB886-7F04-43A9-B041-3DD2254A9660.jpeg
 
alexody said:
Got a 5200 credit balance on my Capital 1
& a 2000 credit balance on my Amazon

Been @ my seasonal job for 2 months (confident they'll keep me) making $600 a week.

Got 5500 saved to cop a better whip but contemplating just holding and clearing my credit and just start saving again next month.

Any suggestions
Click to expand...

Take $2K and pay off the Amazon balance. Do that immediately.
Take $2200 and put that towards the Cap1 card.

You'll have $1300 left to use for a rainy day fund, just in case.

Do not buy a car. Drive your current whip until the wheels falls off, literally.
 
Ya I got 7k 4 emergency and been meaning 2 put another rack on that, but I was waiting for Trump 2 gimme that

I'm all for riding it until it falls off except car shopping like that puts you on a timetable

ecook0808 said:
Save your money for a house
Click to expand...
Just turned 27 last week
Not tryna have kids until 30
Not getting a house until my second child
 
Last edited:
So I'm about $6,000 in debt with credit cards and owe a friend money. I am barely making it paycheck to paycheck and need to get on top of my bills and pay everything down.
I have a budget plan set up and I'm cutting out any random expenses I don't severely need.
Any advice on what the best interest rates are on specific personal loans?
 
Last edited:
Ok my cousin called me asking what to do with his CC bills and I advised and hes thinking what Im saying is wrong bc my aunt said so. And I’m going to show him what other people say here if they agree with me or not.

He said he has a total amt of credit avail of about 23k. He owes a total now of 10k after he paid down to zero everything but 2 cards of his. He has a cap one (owes 5500 of 6500 avail) and a citi card (4000 owed of 4800 avail). Citi reports tomorrow he says so I said pay the extra money he had to the citi. But his score dropped bc cap one reported the 85 percent utilization.
Am i wrong?
 
Knocked out 3 credit card as a birthday present to myself last week, I could’ve got giggy wit dat $1400. I was already in the 760’s.............
 
alexody said:
Ya I got 7k 4 emergency and been meaning 2 put another rack on that, but I was waiting for Trump 2 gimme that

I'm all for riding it until it falls off except car shopping like that puts you on a timetable


Just turned 27 last week
Not tryna have kids until 30
Not getting a house until my second child
Click to expand...

Why?
 
air spider 777 said:
Ok my cousin called me asking what to do with his CC bills and I advised and hes thinking what Im saying is wrong bc my aunt said so. And I’m going to show him what other people say here if they agree with me or not.

He said he has a total amt of credit avail of about 23k. He owes a total now of 10k after he paid down to zero everything but 2 cards of his. He has a cap one (owes 5500 of 6500 avail) and a citi card (4000 owed of 4800 avail). Citi reports tomorrow he says so I said pay the extra money he had to the citi. But his score dropped bc cap one reported the 85 percent utilization.
Am i wrong?
Click to expand...
His high utilization and them reporting to the bureaus dropped his score
 
Xath said:
So I'm about $6,000 in debt with credit cards and owe a friend money. I am barely making it paycheck to paycheck and need to get on top of my bills and pay everything down. Maybe looking at a $2,000 loan (installment loans or payday loans). My credit is closer to 600 now :frown:
I have a budget plan set up and I'm cutting out any random expenses I don't severely need.
Any advice on what the best interest rates are on specific personal loans?
Click to expand...
600 is considered sup prime. You will be hit with high interest rates
 
sober thoughts said:
Knocked out 3 credit card as a birthday present to myself last week, I could’ve got giggy wit dat $1400. I was already in the 760’s.............
Click to expand...

E35030A3-DD78-407C-AAFE-E711DB97ABE4.png


I was at 630 and decided too start caring about credit again 7 years ago. Fixed it in 3 years and been maintaining it since...... guys stay inspired.
 
Last edited:
fluid hips said:
His high utilization and them reporting to the bureaus dropped his score
Click to expand...

Yea but what the argument between us was that he should pay the cap one card specifically but I said no citi reports next this month. Hes tryin to get a loan for a grand cherokee and tryin to help the dude but he doesnt want to listen. He paid all his **** but doesnt have enough to knock out the last 2 cards.Told him to take the extra 1100 or so and pay the citi card bc that reports next.
 
I have a question a friend asked, that I didn't have an answer for, that maybe someone here does:

My friend has an AMEX and he has a good payment history (never late, doesn't let amounts build, etc). At the time he signed up the card, he was in college in LA, so he had no job, but they awarded him the card with a 10K limit based off his already established credit. He put his income at 30K which he told me was money he was getting from school & just other assets he calculated.

Now, he wants to raise his credit limit to improve his credit score since he will keep the same usage but the credit utilization will be where it should be since he has a higher limit, but in order to be successful at getting this he has to update his income with them, but due to the pandemic and other factors he still doesn't have a job, so he doesn't have a source of an income currently.

If he updates his income & puts something higher, will AMEX look into this? Are there ways to update credit limit without bringing up annual income with AMEX?

He doesn't want a higher limit to spend more, but just to improve his score. He's a very responsible person & not a crazy spender, but he was asking me what AMEX does when you update your income & I personally didn't know given his situation. I told him to just wait until he found a new job, but it's been about 2 years for him.

Thanks if anyone has any knowledge on how to approach this.

PO
 
Last edited:
po2345 said:
I have a question a friend asked, that I didn't have an answer for, that maybe someone here does:

My friend has an AMEX and he has a good payment history (never late, doesn't let amounts build, etc). At the time he signed up the card, he was in college in LA, so he had no job, but they awarded him the card with a 10K limit based off his already established credit. He put his income at 30K which he told me was money he was getting from school & just other assets he calculated.

Now, he wants to raise his credit limit to improve his credit score since he will keep the same usage but the credit utilization will be where it should be since he has a higher limit, but in order to be successful at getting this he has to update his income with them, but due to the pandemic and other factors he still doesn't have a job, so he doesn't have a source of an income currently.

If he updates his income & puts something higher, will AMEX look into this? Are there ways to update credit limit without bringing up annual income with AMEX?

He doesn't want a higher limit to spend more, but just to improve his score. He's a very responsible person & not a crazy spender, but he was asking me what AMEX does when you update your income & I personally didn't know given his situation. I told him to just wait until he found a new job, but it's been about 2 years for him.

Thanks if anyone has any knowledge on how to approach this.

PO
Click to expand...
people lie about income all the time, I have done it as well

what did he put before? I wouldn't put something crazy..
 
Bert. said:
people lie about income all the time, I have done it as well

what did he put before? I wouldn't put something crazy..
Click to expand...

As I said in the initial post, he told me he put $30,000. But i guess the question now is if let's say he put $50000 now (he hasn't updated that 30 since he got the card) which would help support the increase favorably, would they do anything to try to verify that?

PO
 
po2345 said:
As I said in the initial post, he told me he put $30,000. But i guess the question now is if let's say he put $50000 now (he hasn't updated that 30 since he got the card) which would help support the increase favorably, would they do anything to try to verify that?

PO
Click to expand...
from my own experience, NO

would not have an issue

others in here will say be honest but everyone lies or adds more than they actually make.
 
AMEX does financial reviews but it is rare but it happened to me. :lol:
Happened about 4 yrs ago. I went to use my Charge card and it was declined. I call up and then get transferred to financial review. I ask WTF is going on? They tell me b/c my authorized user (wifey) had been making most of the charges the last 2 months they wanted to make sure that they were issuing the account to the proper person. I had to send 2 yrs of tax returns.
Mind you at this point I was a platinum cardholder for 11 yrs when this happened.
 
You must log in or register to reply here.

Similar threads

feeninlikejodeci
Went Off On Some Kids in the Wal-Mart Parking Lot.
2 3
Replies
59
Views
6K
DCAllAfrican
DCAllAfrican

Thread Gallery

View Full Gallery

The ultimate sneaker enthusiast community.

NikeTalk was created as a way of giving back to both the sneaker enthusiast community and to the greater global community of which we are all a part.

NikeTalk is NOT affiliated with Nike Inc. in any way, shape, or form. All opinions expressed herein do not necessarily reflect those of Nike, Inc.

© 1999-2024 NikeTalk.com

Share this page

Back
Top Bottom