- 16,094
- 16,845
- Joined
- Apr 16, 2005
Yeah I don't even think he would qualify.
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
Yeah I don't even think he would qualify.
- 2,631
- 218
- Joined
- Mar 31, 2006
I'm pretty sure they don't offer the non preferred version anymore.
I'm thinking about it but I wish the free night you get every year was more useful.
What are you using for your non bonus purchases ? I have the Citi Prestige,CSP, and Amex SPG. I'm really considering replacing the Amex SPG with the Amex Everday preferred.
- 4,758
- 1,409
- Joined
- Nov 6, 2012
Lol you trying to get rid of that AMEX too @Dam itz Lou ?
Don't know why I signed up for it and really am trying to figure out which AMEX card would be beneficial for me.
Don't know why I signed up for it and really am trying to figure out which AMEX card would be beneficial for me.
- 63,609
- 50,740
- Joined
- May 23, 2005
Just got my bonus 40,000 points from my capital 1 venture card
I'm a continue to stack
Tryna take a trip to Europe and Japan next year
I'm a continue to stack
Tryna take a trip to Europe and Japan next year
- 2,631
- 218
- Joined
- Mar 31, 2006
Lol you trying to get rid of that AMEX too @Dam itz Lou
?
Don't know why I signed up for it and really am trying to figure out which AMEX card would be beneficial for me.
Yeah, I'm about to hit 40k and then im going to transfer them to AA most likely. It's too much of a pain to earn points. I wasn't a fan of the new changes, especially raising the annual fee to $95. I go on 4-5 vacations a year and I'm always going to use the 4th night free perk with the prestige so I can't use the SPG to earn double or triple points when I stay at their hotels.
4.5 pts for groceries,3 pts for gas, and 1.5 for non bonus purchases assuming you make 30 purchases a month with the everyday preferred is really appealing.
- 1,327
- 152
- Joined
- Mar 29, 2007
Yeah the way he was talking that was a stretch for a beginner. I have a Chase account, so I'm thinking of either their Slate or Freedom card as a good start.
- 296
- 117
- Joined
- May 14, 2013
so glad to have just broken the 800 mark
anyone have experience using green dot moneypaks to meet minimum spends for introductory CC promos? Or just regularly purchasing them to accumulate points? any reason not to do so? any risks?
anyone have experience using green dot moneypaks to meet minimum spends for introductory CC promos? Or just regularly purchasing them to accumulate points? any reason not to do so? any risks?
- 3,562
- 2,078
- Joined
- Sep 27, 2012
I just spread it around depending on if I need a minimum spend requirement. Otherwise just depends on what mileage account I want to put it towards. I like SPG because they're a valuable currency. Id probably stick with that. I'd only sign up for a card now that gets me at least 40k points.
Edit. After reading more of your preferences, I would do the Amex everyday, too.
Last edited:
- 94,376
- 33,430
- Joined
- Oct 24, 2010
How is a plane ticket cost 25k?
- 2,631
- 218
- Joined
- Mar 31, 2006
- 63,609
- 50,740
- Joined
- May 23, 2005
- 4,410
- 1,807
- Joined
- Jul 19, 2012
Everyone's circumstances are different and that dictates what card they want or should get. For me, I'm a savvy shopper and like to buy off value (I find cheap airline tickets), so getting rewards points/miles and paying face value isn't worth it for me and I would rather get $. It works especially well if you know what you're doing and understand all the benefits with the cards you're interested in. For ex. my cousin has a BoA rewards card that gives 3% gas 2% groceries 1% everything else, but he also is preferred rewards client since he banks with BoA and meets the requirement and they give him 75% more cash back. His cash back jumps to 5.25% on gas, 3.5% groceries, and 1.75% which is pretty awesome.
Assuming you have no credit history (no student loans, auto loans,etc.), the next thing you have to consider is your income. I personally love the Discover IT card and they aren't too crazy about the income, all you need is like $4-5k +annual and you should get approved, but obviously your limit will be low. I hear Capital One is also very easy. There's also student cards that have an easier approval process/lower limit/higher APR. If you're looking to play it really safe, you could look into becoming an authorized user on someone elses credit card or you could try to apply for a secured credit card (basically a debit card) and they're usually very lenient with the application process with those. I had no credit, applied for a Discover IT card with a very low income (only worked summers) as a full time student and got it.
Best place for anything involving credit, credit cards, loans, mortgages,etc: http://ficoforums.myfico.com/
You might want to ask people there.
Last edited:
- 4,900
- 1,145
- Joined
- Apr 12, 2011
thekid973
I got a store credit card (macys) first and then after 6 months got a BoA card followed by a chase card.
I think store cards are easier to get and if u show u use your credit resposibly the banks will be more willing to accept you.
I Dont think there is a best card or best way to spend points because everyone has different needs and taste.
- 4,758
- 1,409
- Joined
- Nov 6, 2012
Store cards don't help you get real cards, unless its a visa/mastercard.
That suite is insane. How long did it take him to rack up points like that? IMO the only way to really flourish off of those air miles is if you are constantly opening and closing cards or credit card churning. I am not interested in either of those practices. I prefer cash back it is just easier to manage. I have been thinking about getting the Southwest card, but I really don't think it is worth it.
@Dam itz Lou oh I thought you had the Premier Gold Rewards card $95 is still a lot. I just paid that $175 annual fee and it made me realize how bad of a decision it was lol. Great perks but not worth that fee.
@jjoaquin you are talking about credit churning you can google it and find out more info. Some people have entire spreadsheets to keep track of their churning
That suite is insane. How long did it take him to rack up points like that? IMO the only way to really flourish off of those air miles is if you are constantly opening and closing cards or credit card churning. I am not interested in either of those practices. I prefer cash back it is just easier to manage. I have been thinking about getting the Southwest card, but I really don't think it is worth it.
@Dam itz Lou oh I thought you had the Premier Gold Rewards card $95 is still a lot. I just paid that $175 annual fee and it made me realize how bad of a decision it was lol. Great perks but not worth that fee.
@jjoaquin you are talking about credit churning you can google it and find out more info. Some people have entire spreadsheets to keep track of their churning
- 4,900
- 1,145
- Joined
- Apr 12, 2011
Im just sharing what worked for me.
I applied for a chase freedom at 22 with zero credit history and got denied because of the fact that i didn't have any history.
My next move was the store card then the BoA and chase. It worked for me so it is worth a shot.
- 4,758
- 1,409
- Joined
- Nov 6, 2012
I know you are sharing what worked for you, but I am letting him know that they don't help you in the long run.
His best bet is to get a secured card ($250-$500 limit) and use it for a year then go for real cards.
His best bet is to get a secured card ($250-$500 limit) and use it for a year then go for real cards.
- 2,631
- 218
- Joined
- Mar 31, 2006
I just upgraded to the Platinum because they offered me 50k. I'm definitely downgrading back to the PRG in Jan but I might just cancel altogether. Have you used the $100 airline credit ? I think if you were to cancel they would give you the fee back since it sounds like it was pretty recent. I tried cancelling two years ago and they credited the fee back to me after $3k spend.
- 15,860
- 3,484
- Joined
- Apr 4, 2006
I did the store card thing first with macys and then got a chase quicksilver card then Amex blue cash everyday
- 4,758
- 1,409
- Joined
- Nov 6, 2012
Whats the $100 airline credit ? They upgraded you to platinum with no annual fee for the first year? I will try that next July, but I will be cancelling after.
- 2,631
- 218
- Joined
- Mar 31, 2006
http://thepointsguy.com/2015/06/usi...wards-gold-airline-fee-credit-for-gift-cards/
It's a benefit they added this year. The credit is every calendar year so you can do it now until December and again in January. You have to sign your card up with one of their partner airlines first but some airlines don't offer gift cards if you decide to go that route. They aren't suppose to give you the credit back for gift cards but they do. I did AA since they never expire. So instead of using it for bags, you can you use it towards airfare.
I wish they waived the fee for the Platinum but I was talking about when I had the PRG. I called to cancel and they made me two different offers to basically cover the annual fee.
Last edited:
- 4,758
- 1,409
- Joined
- Nov 6, 2012
@Dam itz Lou wow good looking out man. This feature alone might be worth it to keep the card. $100 in free flights (going to buy $100) gift card.
- 8,070
- 5,047
- Joined
- May 24, 2014
That suite looks like the biggest waste of money/points, ever. The accommodations are cool and service sounds legendary, but the food looks like ritzy, old rich white people status. And when he said he slept what was worth $6,000 of the flight away, I almost fell over.
No thanks.
No thanks.
- 8,715
- 5,390
- Joined
- Jun 1, 2013
reddit.com/r/personalfinance
- 4,900
- 1,145
- Joined
- Apr 12, 2011
I think i might be slightly slow but reddit is the hardest thing for me to read on the internet.
I don't know if im going up or down or where to click its all over the place
I don't know if im going up or down or where to click its all over the place
- 8,070
- 5,047
- Joined
- May 24, 2014
That site, as popular as it is, definitely has a learning curve on it. First 10 times I went there I got so confused. I still don't know the inner depths to the site, but it gets more manageable the more you visit.
The have sub reddits for every niche out there which is cool. Caters to a wide array of interests.
The have sub reddits for every niche out there which is cool. Caters to a wide array of interests.
