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

[Bert.]

Discover is offering 0% APR on new purchases for 12 months for current members.

Chat with them on the app, and ask if there are any promo deals for current members. They will transfer you to an APR specialist, who will offer you the deal.

Link?

 

[luckyluchiano]

Any other cards out there that offers good balance transfer promos like the discover it?

 

[dam itz lou]

Any other cards out there that offers good balance transfer promos like the discover it?

Chase Slate. No interest for 15 months and no balance transfer fee for the first 60 days.

 

[xcellz]

Edit nvm

 

[luckyluchiano]

Chase Slate. No interest for 15 months and no balance transfer fee for the first 60 days.

is there a annual fee?

 

[based mod]

Dudes here lazy as hell

 

[RustyShackleford]

Chase Slate. No interest for 15 months and no balance transfer fee for the first 60 days.

is there a annual fee?

No

 

[hennessy]

The $300 travel credit for CSR works with uber

 

[capital sb]

I've been using my AMEX points with uber . Probably not the best way to use my points *shrugs*

 

[hennessy]

I've been using my AMEX points with uber . Probably not the best way to use my points *shrugs*

I was under the impression the travel credit only applied to airfare. Activated my card before going out to dinner this past Friday and once the Uber posted the credit showed up right beside it. Free Uber

 

[BIG LEEMELONE]

I need help disputing debts and negotiating pay for deletes. I know it's been discussed in the past but anyone have a guide I could use for the process?

THIS. Verizon is not tryna let me shine right now. Only blemish I got left. Anyone got experience negotiating a pay for delete and can walk us thru the process?

 

[dam itz lou]

THIS. Verizon is not tryna let me shine right now. Only blemish I got left. Anyone got experience negotiating a pay for delete and can walk us thru the process?

Make up a story. I did it with Time Warner. I told the collections company the bill wasn't my fault. I made up some story that they never turned off my service. We went back and fourth for a while and then I pretended I was fed up. I told them I'd pay it, BUT they had to delete it. I got it in writing, paid it, and it was gone.

 

[doxen5703]

Make up a story. I did it with Time Warner. I told the collections company the bill wasn't my fault. I made up some story that they never turned off my service. We went back and fourth for a while and then I pretended I was fed up. I told them I'd pay it, BUT they had to delete it. I got it in writing, paid it, and it was gone.

So did you wait for them to mail you the delete statement in writing? Or was it via email?

 

[luckyluchiano]

Chase Slate. No interest for 15 months and no balance transfer fee for the first 60 days.

Seems like their approval rate is pretty low from the little I saw via research.

 

[HankHill]

Try the Citi Simplicity. When I got it they offered 21 months of 0% APR on balance transfers. I don't recall them having any rewards.

 

[RayCashhhh]

So I was talking to the director of student housing at my university today, and we ended up talking about credit cards and how to maximize your credit score. She claims that her credit score is 823 or so, and she said that the key for it being so high was that she "paid on time, paid at least the minimum balance, and sent a payment twice a month." She said that it was okay to only pay the minimum due each month (for me, it's like $20) twice per month, and then perhaps the next month pay my balance off in full. I heard in here before about not paying off your full balance each month, so could someone explain to me whether or not her plan makes sense, and why does it make sense to not always pay off your full statement?

 

[pdino]

I'll give an example with easy numbers. Let's say her payment is for 1050$, but she pays the minimum 25$, twice. APR is 15%. She's looking at 15$ in interest that she's giving to the bank. If you make the example more exaggerated and say her payment for for10,050$, she's gonna owe 150$ in interest next month. This interest compounds, and it'll take longer to pay off the longer you don't pay it off in full.

It can also affect your credit utilization. Let's say she has a credit line of 20k, and she used 11k of the 20k on her credit card that month, only paid minimum. It'll show her credit card utilization ratio is at 50%+, thus lowering her credit score (temporarily) because lenders want to see you

 

[RayCashhhh]

I'll give an example with easy numbers. Let's say her payment is for 1050$, but she pays the minimum 25$, twice. APR is 15%. She's looking at 15$ in interest that she's giving to the bank. If you make the example more exaggerated and say her payment for for10,050$, she's gonna owe 150$ in interest next month. This interest compounds, and it'll take longer to pay off the longer you don't pay it off in full.

It can also affect your credit utilization. Let's say she has a credit line of 20k, and she used 11k of the 20k on her credit card that month, only paid minimum. It'll show her credit card utilization ratio is at 50%+, thus lowering her credit score (temporarily) because lenders want to see you <20%.

If you're paying interest to the bank, you're doing it wrong imo. Earn the rewards, by using your $ you were planning on using anyways on your CC, and pay off your CC in full is the way to play the game.

CC companies are very profitable because only 35% of people pay off their balance in full. According to CreditCards.com, the average credit card's interest rate is 15%. At the minimum payment of $189, it'll take 10 years and a month to pay off that $4,717. The total payments would amount to $22,869. That's a $18,155 cost for a very small loan. (reference: http://time.com/money/4213757/average-american-credit-card-debt/)

Okay, see I was thinking that yeah it would be better to pay off in full each month. I guess my next question is, should I just pay half of my statement as soon as the statement comes in, and then pay the other half closer to the due date, or just pay it off in full like I'm doing now? My score is currently 659, which she said isn't bad for a college student. I want to be AT LEAST 670 by graduation, but preferably I'd like to be at 700 by then. I'm getting the Citi Double Cash card in the mail soon, so my credit utilization will go down, which certainly helps.

 

[Benny Hinn]

So I was talking to the director of student housing at my university today, and we ended up talking about credit cards and how to maximize your credit score. She claims that her credit score is 823 or so, and she said that the key for it being so high was that she "paid on time, paid at least the minimum balance, and sent a payment twice a month." She said that it was okay to only pay the minimum due each month (for me, it's like $20) twice per month, and then perhaps the next month pay my balance off in full. I heard in here before about not paying off your full balance each month, so could someone explain to me whether or not her plan makes sense, and why does it make sense to not always pay off your full statement?

She making that way too complicated than it needs to be. I'm in the 800s as well. I just pay everything with my card and have it on autopay the last statements.

Build a credit history, have a low utilization % and most importantly never ever have late payment and you good.

 

[oidreez]

Just checked my fico score on amex website and it shows 802 . 790 on capital one mobile app

 

[vtotheinay]

Hit the CLI button on discover and got a jump from 16k to 22k Pretty much maxed out with that card now, don't need them asking for all that extra infor for another CLI haha. Now to get my amex from 16.7 to the 20k range. Meanwhile my chase freedom is sitll at a $500 limit

 

[alp]

I'll give an example with easy numbers. Let's say her payment is for 1050$, but she pays the minimum 25$, twice. APR is 15%. She's looking at 15$ in interest that she's giving to the bank. If you make the example more exaggerated and say her payment for for10,050$, she's gonna owe 150$ in interest next month. This interest compounds, and it'll take longer to pay off the longer you don't pay it off in full.

It can also affect your credit utilization. Let's say she has a credit line of 20k, and she used 11k of the 20k on her credit card that month, only paid minimum. It'll show her credit card utilization ratio is at 50%+, thus lowering her credit score (temporarily) because lenders want to see you

 

[doeboifreshsince88]

I need help disputing debts and negotiating pay for deletes. I know it's been discussed in the past but anyone have a guide I could use for the process?

Anybody have any info?

 

[doxen5703]

Anybody have any info?

Everyone has different methods. Some people call the collection agency and ask for a delete without giving any info or acknowledgement of the debt. Some people send letters to the collection agency. Look on the FICO forum, someone has a letter template they used to get their delete.

 

[RayCashhhh]

I've had my Discover It secured card since July, and I have been making on-time payments ever since. Is it okay if I ask not only to make my card unsecured, but increase my CL as well?