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

[s0lefunk]

http://www.comparecards.com/guide/h..._content=fastest&adt=suitlady&pos=12&mpch=ads

Need a good 0% balance transfer card. Interest been killing me.

I'm in the same boat. I'm looking into the Chase Slate since my credit score isn't great right now (https://www.creditkarma.com/credit-cards/i/best-balance-transfer-cards/#slate). $0 annual fee and 0 percent intro APR on purchases and balance transfers for the first 15 months. And you don’t have to pay a transfer fee on transfers made within 60 days of opening your account.

Sounds good if you're only concerned about eliminating your balance and don't care about cash back, points, and other perks.

*Edit* Went ahead and applied and got approved immediately. Card should get here in 7-10 days. Once I get it I'll transfer the balance. Another added benefit is getting approved for another credit line helps with your utilization rate.

 

[fluid hips]

Made some calls to amex, discover, capital one to increase my credit limit. Happy to end 2017 and go into 2018 with my credit score going up

 

[cs02132]

I’ve been only using my freedom unlimited for the past few months, thought I was done churning these cash back cards but I got a letter that I’m pre approved for an HSBC card with $150 for spending $500.. I’ll take it

 

[slaughterx]

Kay card

 

[W)taps]

i have the option to increase my credit limit.. do yall think I should?

I only have 1 cc if that makes a difference.

 

[doxen5703]

i have the option to increase my credit limit.. do yall think I should?

I only have 1 cc if that makes a difference.

If you’re going to still use it responsibly, I don’t see why not. It’s good for your score too.

 

[Coromanti]

To increase your usage percentage without spending more, lower you credit limit. Can always raise it later for a special purchase.

 

[rabidsavant]

I don't think Orchard Bank/Orchard Card is still around but that was it! Low limit, $50 annual fee. Pay that low limit off monthly and within a year you'll be good.

 

[thadangerousmind]

To increase your usage percentage without spending more, lower you credit limit. Can always raise it later for a special purchase.

Whatever the hell you do, don't do this!

 

[Coromanti]

Whatever the hell you do, don't do this!

Why not?

I read you should spend ~20-30% of your limit each month to get maximal gains in credit score. I'm barely touching 10% with my current limit so it was recommended I lower the limit.

 

[noskey]

Don't lower your limit. It reduces your available credit and reduces your score. Higher limit = better reliability to use your credit responsibly. Don't worry about % utilization, you should be keeping a 0 balance at the end of the statement cycles anyways.

 

[jon4rd]

Why not?

I read you should spend ~20-30% of your limit each month to get maximal gains in credit score. I'm barely touching 10% with my current limit so it was recommended I lower the limit.

Nah fam lmao. For optimal credit scores, your utilization should be less than 10%. And credit utilization has no memory. So it doesn’t matter if you have 50% one month then 10% the next month. The only thing that matters is the current utilization that has been reported. Don’t lower your credit limit unless you feel like you will spend irresponsibly.

 

[bostoiah]

Why not?

I read you should spend ~20-30% of your limit each month to get maximal gains in credit score. I'm barely touching 10% with my current limit so it was recommended I lower the limit.

Lmaoooo nah bruh

 

[slighted]

Just requested a Discover CLI -- $6k increase to $22k

 

[8|24]

Just requested a Discover CLI -- $6k increase to $22k

How? Thats a significant increase

 

[slighted]

^ No idea, I requested a CLI last month and only got a $500 increase.

Give it a try; it's not a hard pull, so it won't affect your credit score.

 

[Brownstone]

Just got the Delta Gold Skymiles, needed a travel card. 60k after spending 1k in 3 months was too good to pass up.

 

[bostoiah]

^ No idea, I requested a CLI last month and only got a $500 increase.

Give it a try; it's not a hard pull, so it won't affect your credit score.

I just got the Discover IT. How long should I wait before I request an increase?

 

[slicknick951]

When got my amex i did that 3x thing people posted about and got up to 21k

 

[willypete]

I just got the Discover IT. How long should I wait before I request an increase?

3 months I believe

 

[guzzy]

My boy got us a comped room at the MGM grand. I booked my flights with my Citi TY points. FREE TRIP!

Able to give an estimate on much you spent to rack up those points for the flight.

Looking to get A Citi Costco joint

 

[$tatus $ymbol]

Stuck at 767 for months now. Lowkey irritating. Need to climb higher looking to purchase a property in a few years

 

[Brownstone]

Stuck at 767 for months now. Lowkey irritating. Need to climb higher looking to purchase a property in a few years

at 767 you will get the best rate there is.

 

[getback]

Yeah 767 is very good by FICO standards. I'm at like a 700 and within the next few years don't anticipate many issues buying a condo or town home, especially considering the direction of the country. I'd be thrilled with a 767.

 

[fluid hips]

Just requested a Discover CLI -- $6k increase to $22k

For me, I like Discover better than Amex, capital one etc.

Capital one is a joke. I want to close my account with them but I'm afraid it will hurt my credit score since it's my oldest card and contains my oldest credit history