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

Well I tried to go for the BOA cash rewards card and got turned down, I got counter offered the secured version with a $300 deposit. Yeah...no thanks. So in the last day:

-applied for discover it: turned down for it, but got counter offered discover it with higher interest and $1000 CL
-applied for BOA cash rewards card, turned down
-applied for Capital One Venture card based off a Good approval odds with credit karma, turned down

So my rotation for credit cards is
-capital one secured platinum card: $550 CL
-discover it card: $1000 CL
-capital one quicksilver: $2000 CL

FICO 8 score is 600. I'm just going to continue to grow he'd cards for the rest of the year and chill out on any further inquiries.
 
Last edited:
Weird.. I'm assuming the balance on your 3 cards are combined for a utilization rate over 30%?
 
Got approved instantly got 1k at Best Buy

Wondering what other stores to apply to [emoji]129300[/emoji] Going on one of those runs right now
 
I don't see what's wrong with a secured credit card. Because you have to put $300 down? At least, it'll help build credit.
 
Any of you brahs messing wit Small Business cards, I'm thinking about getting one for the extra cashback (or rewards) on my cable and cell phone bills.

I pay like $300-320 a month to Cox, Optimum and T-Mobile combine.
 
Last edited:
eyanks said:
I just looked into that. My oldest card is now 3 years, average age is 2 years. Doesn't sound like much but this must have something to do with it. Thanks bro.

It's just frustrating, I want to buy a condo next year and I'm paying off everything in full on time, no new inquiries, etc and the FICO jumps up and down randomly even if I do everything right. There's no reason I shouldn't get the lowest rate, but who knows what my credit score will be on the day a mortgage company pulls it. I hate this stupid system
laugh.gif
Click to expand...
lol chill fam. the score the mortgage company sees doesnt jump around like the consumer FICO scores thru the CC companies. Also the way they weight things is different I believe. Im trying to buy another townhouse and Disco says my score is around 710 but the mortgage man said its 730 so I dunno. the age of my CCs is similar to yours but i only have like 38k available to me on my CC lines

from what your saying youll get the lowest rate possible. no worries bruh

At such time as one of the parties to the transaction files suit and the court orders the disbursement of these funds. 
 
mortgage underwriter here..

when running credit we pull from 3 repositories (Trans Union/Experian/Equifax)..

The middle score is used (fico)..if there are only 2 scores we use the lesser of the two

Ur monthly discover score is not the same
 
Yeah I was telling dudes in here way back that just cause u got a good fico score doesnt mean anything when u trying cop a whip or a house.
 
JEWSEEJAY said:
lol chill fam. the score the mortgage company sees doesnt jump around like the consumer FICO scores thru the CC companies. Also the way they weight things is different I believe. Im trying to buy another townhouse and Disco says my score is around 710 but the mortgage man said its 730 so I dunno. the age of my CCs is similar to yours but i only have like 38k available to me on my CC lines

from what your saying youll get the lowest rate possible. no worries bruh
Click to expand...

thx bro, yeah i only care about what the mortgage fico says. most of the fico/fako numbers aren't helpful.
 
throwback1718 said:
After getting all your cc below 30% how long before you see an increase in credit score?
Click to expand...

Should be as soon as all of your statements cut with the new balances. Maybe give it a week after your last statement cuts and it should be reflected on your score
 
Lightweight Champion said:
What are your balances on your 3 current cards?
Click to expand...

See that's the thing, I'm paying them down:

Discover IT card: $0 due
Capital One Platinum: $500
Capital One Quicksilver: $1290

I had a purchase heavy May and June, and will pay more on my card balance Thursday when I get paid again (I get paid weekly). I checked my credit score again and apparently my Fico 8 score is a 630, not a 600. As for the BOA card, I got turned off with the $300 down payment, it makes me feel like I'm back at step 1. I can get non secured cards already but it probably would have hurt taking BOA on their offer
 
sthebest said:
See that's the thing, I'm paying them down:

Discover IT card: $0 due
Capital One Platinum: $500
Capital One Quicksilver: $1290

I had a purchase heavy May and June, and will pay more on my card balance Thursday when I get paid again (I get paid weekly). I checked my credit score again and apparently my Fico 8 score is a 630, not a 600. As for the BOA card, I got turned off with the $300 down payment, it makes me feel like I'm back at step 1. I can get non secured cards already but it probably would have hurt taking BOA on their offer
Click to expand...

Your Fico score is so low because your have one card maxed out and the other card over 50% utilization. Once you get those balances down you'll see a big jump

Edit: and those high balances are probably why you were denied new credit for those other cards.
 
Last edited:
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