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24 Looking to build Credit... What are some good tips on your first Credit Card
- Thread in 'General' Thread starter Started by trynafeelmink,
- Start date
omariwestafari
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in one year exactly my credit score has dropped 100 points :x :x :x
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Boom end of thread
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what happened???
omariwestafari
Banned
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Used my card on dumb stuff that i could afford but then i lost my school funding and had to pay with my card so my credit utilizations was high.
Its been improving recently though by like 10 point increments a month
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Good luck my dude
I'm tryna improve my utilization on all my cards
It's higher than I want
Anyone know when they report
Thinking of putting all my bills on my cc and just pay that
So I can kill 2 birds with 1 stone
I have 2 cap1 and a b of a cc
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My one old school loan got transferred from Navient/Sallie Mae to somewhere else. Does this get removed from my credit report? I am about to completely pay it off next month but just wanted to know how do I get Navient/Sallie Mae removed from my credit report?
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Anyone have recommendations on balance transfer cards? I don't plan on make any purchases on the card and I don't care for rewards (I have other cards that provide that).
I'm looking at the Citi Simplicity card since it has 0% APR for 21 months on balance transfers. Any reason to choose another?
I'm looking at the Citi Simplicity card since it has 0% APR for 21 months on balance transfers. Any reason to choose another?
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To add to his question^
I recently got the AMEX Blue card, can I do a balance transfer from Barclays card? And if so how do I go about doing it? Never done it before.
I recently got the AMEX Blue card, can I do a balance transfer from Barclays card? And if so how do I go about doing it? Never done it before.
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Chase Slate is good for balance transfers, but I don't think it's anywhere near 21 months. I would say take that deal for sure. That's damn near 2 years. Slick deal.
Go to your AMEX website. You can initiate it there.
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If you guys are wanting to improve your credit score or needing to improve it relatively soon, then look into small consolidation loans. First off, you'll avoid the possible habit of opening new credit cards just to transfer balances. Theoretically, you can keep hopping along doing that for awhile.
Secondly, term loans are looked at as "good credit." It's all weird, but say you really need to bump your credit score and have a few balances on cc's. Take out a loan to consolidate the balances onto a term loan and your score will jump up real quick and usually jump up a good amount of points.
See if your personal bank does home loans first, but then there are some great peer-to-peer lending companies out there that are pretty cool deals. I got a loan through Lending Club to consolidate some CC debt and the process was pretty damn awesome.
My score jumped 60 points immediately (immediately as in the first time my reports were updated after the fact).
Just a thought in case that's something you guys haven't considered yet or fits more in line with what you prefer/want.
omariwestafari
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Can u tell me more about this?
How does the loan work?
How long is it and whats the interest?
I have about 4k due in the next couple months and im not tryna get hit with 26% interest
How does the loan work?
How long is it and whats the interest?
I have about 4k due in the next couple months and im not tryna get hit with 26% interest
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Peer to peer lending means your loan isn't backed by a bank. Rather, it's backed by "investors." So, you still have to apply in the sense that your credit history is pulled and what not and these investors (random Joe's like you and I) decide if they want to give you money. One guy can back 100% of your loan or 5 guys. Just depends on how much they want to give you. They do this because the interest they is receive the same interest in which you are paying. So, even if it's a low interest rate, they're still making more money than they would if that money was in a savings account.
The interest will still vary based on your credit score, because there needs to be some regulation. In all likelihood it'll be much better than 26% though. Much better. Just don't fall into the trap of using this loan to pay off your CC's only to run the balances on your card right back down.
The term goes up to 5 years (I think that's the max), but you can shorten that if you want. They'll have a breakdown on what your monthly payments will be based on how long your term will be and you can decide between options given to you.
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omariwestafari
Banned
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Do u have a link to what kind u got?
Or what companies i should look into?
And nah i jus wanna pay off my cards. I stopped using them in 2014 and only use my debit for purchgases now.
Or what companies i should look into?
And nah i jus wanna pay off my cards. I stopped using them in 2014 and only use my debit for purchgases now.
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I used Lending Club. Just lendingclub.com
There's another one, but I forget the name of it.
There's another one, but I forget the name of it.
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Actually...if you PM me your email (if you want) I'll send you an invitation. They have some sort of referral program.
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I actually got approved for this card. Couldn't pass up 21 months, the only thing is the chase slate won't charge you the 3 or 4% per transfer for 60 days from opening the account so it's benefeical if it's a one time thing.
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omariwestafari
Banned
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damn bruh lending club denied me 
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I'd rather have the extra 6 months 0% APR given by Citi to pay off that 3% fee lol.
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Quick question, Do you guys usually pay your credit card bill right away once your statement generates and you receive it? Or do you wait near the due date to pay? Cause usually when your statement bill comes they give you like 3 weeks or so or whatever till your due date. But some people pay it once the bill comes instead of waiting couple of weeks later around the due date.
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murkn3m is that intro apr only on the first transfer in the first 4 months? Or every transfer within the first 4 months?
Should be for every transfer within the time frame that they choose. I know discover it card offers 0% Balance Transfers every month and in the into period 0% apr for 14 months.
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Gonzerelli
formerly ggggggonzo
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Ritchie X Rich
I pay it off as soon as it generates because I like to keep track of where i'm at with my actual spending money.
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DOUBLE your cash back earned for 12 months with your Discover IT card. I know it says its only for June & July but I just called and they told me its for the next 12 billing cycles. This is HUGE.
"Thank you for your message regarding your Discover account. I understand you want to take advantage of the promotion, and am glad you took the time to contact us.
You may contact us again to sign up as early as tomorrow, June 1, 2015. One signed up, the Cashback Bonus you earn for 12 statement cycles will be doubled on the 13th statement period.
We look forward to you contacting us again as early as tomorrow!
I appreciate your business and the time you have taken to contact me today. Thank you for choosing to use Discover.
Sincerely,
Camille"
http://slickdeals.net/f/7889421-discover-it-card-double-your-cashback-for-two-months-ymmv?v=1
"Thank you for your message regarding your Discover account. I understand you want to take advantage of the promotion, and am glad you took the time to contact us.
You may contact us again to sign up as early as tomorrow, June 1, 2015. One signed up, the Cashback Bonus you earn for 12 statement cycles will be doubled on the 13th statement period.
We look forward to you contacting us again as early as tomorrow!
I appreciate your business and the time you have taken to contact me today. Thank you for choosing to use Discover.
Sincerely,
Camille"
http://slickdeals.net/f/7889421-discover-it-card-double-your-cashback-for-two-months-ymmv?v=1
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Are you asking if it makes a difference on a credit score? Or, just for peoples' preferences?
It doesn't matter when you pay it off, as long as it's within the billing cycle. They are required to issue a statement, and allow a reasonable amount of time to make a payment. It's all in the agreement you sign. Payments are due on a certain date, there may be a grace period, and that's it. I remember Nordstrom used to have a a four or five day grace period. In other words, the payment due date was on the 28th of the month (because February), but the grace period extended to the 2nd of the following month. They got rid of that a few years back, and all payments are due on the 2nd now.
As for me, sometimes I pay it off right away, sometimes I don't. That's really just me being lazy, though. I rarely carry a balance unless I've made a major purchase and need more time to pay it off. Even then, I always pay such things off within two or three months.
