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Found out a week ago that my credit score was above 750!
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Im about to get my 2 cards to 50% of their limit u think thatll help me get offers for new cards so i can transfer balances? Or is 50% available credit still too high?
My other card has a 1000 limit and has no balance.
One has a 7000 limit im bringing to about 3
The other has a 3k limit im bringing from 2k to 1k
I applied for a card a couple months ago and i got denied so im hoping this will open some doors
gotcha. so basically I have from today (april 13) til may 4th to pay. regardless of when I pay between now and then it wont make a difference?
I think it depends on income and what kind of card, but don't quote me on that.Got a stupid question probably but google isnt helping me.
For someone that wants to get their first credit card with no prior credit history, can they get a bigger limit right away (instead of the usual $500) if they put say a 5k deposit in a savings account in the same bank as collateral basically?
0% Utilization will drop your score. Keep it at 1%.I'm at a 781 right now. I want to be at 800 by the end of the year. I think I'll get at least in the 790's when I go from 21% to 0% card utilization.
depends on your income mostly and then what kind of card you want to get. Limits are at their discretion BUT once you get to where you've used about 90% of the funds available and have paid on the card for a bit you can go in online and request a limit increase OR they usually send you something by email or mail saying that you're eligible for an increaseGot a stupid question probably but google isnt helping me.
For someone that wants to get their first credit card with no prior credit history, can they get a bigger limit right away (instead of the usual $500) if they put say a 5k deposit in a savings account in the same bank as collateral basically?
0% Utilization will drop your score. Keep it at 1%.
Also max score is 850 not 900
Its true though. Once you have a card you need to keep some kind of balance on it or to keep using it and paying off and repeat.That's weird. Probably gonna keep the balance under $100 then I plan on using it for gas mostly since I get 3% cash back from Bank of America.
Yeah just use it for small stuff, let the balance report then pay it off. Don't close the account if it your oldest account, or if you don't have many accounts. That will also drop your score.That's weird. Probably gonna keep the balance under $100 then I plan on using it for gas mostly since I get 3% cash back from Bank of America.
Man credit utilization dont seem to matter to me. I have one card at 70% amd another at 45% and i just got approved for some more credit
A secured credit card? You'll basically put the money in a CD type account that the bank will use as collateral in case you default on your payments.Got a stupid question probably but google isnt helping me.
For someone that wants to get their first credit card with no prior credit history, can they get a bigger limit right away (instead of the usual $500) if they put say a 5k deposit in a savings account in the same bank as collateral basically?
A secured credit card? You'll basically put the money in a CD type account that the bank will use as collateral in case you default on your payments.
However, you won't have access to just spend the $5000 from the account and put another $5000 on the card.
i think we just don't see the reasoning as to why you specifcally NEED a 2k limit. even if you were to do exactly what you said most likely banks will just offer you the bare min amount. I mean if you really NEED that 2k limit I would probably get a parent or legal guardian or someone who has a credit hx to cosign for you but even then idk.Not sure I understand, but basically my situation is: Im gonna be employed, no prior credit history, need a credit line of at least 2k, can offer a deposit of 5k to the bank
So basically Im asking if its possible to get a 2k credit line on a first credit card while being employed with no prior credit history?
To simply answer your question: yes.A secured credit card? You'll basically put the money in a CD type account that the bank will use as collateral in case you default on your payments.
However, you won't have access to just spend the $5000 from the account and put another $5000 on the card.
Not sure I understand, but basically my situation is: Im gonna be employed, no prior credit history, need a credit line of at least 2k, can offer a deposit of 5k to the bank
So basically Im asking if its possible to get a 2k credit line on a first credit card while being employed with no prior credit history?
general advice I've read is to just leave open. if you don't plan on using the account ive read just to keep a 10% balance on it and just keep paying it off. closing the account iirc would drop your score a tad bit, but leaving it open with small dues will help maintain or even increase credit scores.another question is i have a secured card from cap 1 that helped me build my credit up.have had it for 18months and was wondering if I should close it now? it did its job and i dont use it anymore but its my oldest account since my bankruptcy....
Is your new job requiring you to use your own money for expenses and then reimburse you? Not sure where the job factors into "needing" a credit line. Is it a large company?Not sure I understand, but basically my situation is: Im gonna be employed, no prior credit history, need a credit line of at least 2k, can offer a deposit of 5k to the bankA secured credit card? You'll basically put the money in a CD type account that the bank will use as collateral in case you default on your payments.
However, you won't have access to just spend the $5000 from the account and put another $5000 on the card.
So basically Im asking if its possible to get a 2k credit line on a first credit card while being employed with no prior credit history?