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

[jordman23]

Just signed up in-branch for the Chase Ink Preferred card, with 100K points if spending $5k in first 3 months. Wife's tuition bill of $5k due next Friday, so should be able to snag those points as soon as I get the card.

Planning a Greece/Italy trip end of June into July, hoping that the 100k points get posted before we leave so I can use to book hotels etc.

^^ I should've done it at the branch, but I don't like my past experiences there with the Client Rep. She was very rude. So I just did it online. I asked them to match the 100K offer, but they declined.


So I'll only get the 80k now, kinda upset because 20k points is a free roundtrip domestic flight on southwest.

 

[antidope]

Wait they're still offering the 100k points if you do it in a branch? I thought that was over?

 

[slaughterx]

I paid off my Synchrony/Walmart CC in full last month, about 2Gs, always pay my bills early before the due date, usually as soon as I get the notice. Anyway I check my balance because I accidentally used the wrong card at Subway and realized that these ****ers still charged me almost $40 in interest. Called CS and the ***** had the nerve to say my payment was late... I told her to check my payment history and she will see that every bill I pay is paid at least 3 weeks before the due date because that's how I do things. **** I recall even paying the fonal balance before I got the notification because I just wanted to finally have paid off because they have been raping me with interest for years. Anyway I paid them their little $40 something and told her to close that **** immediately. Moral of the story, if you're wanting to pay off a balance and probably won't use that card again then make sure to close it immediately aftereards otherwise they will still charge you interest. From now on if the CC doesn't offer no interest then I'm not ****ing with it.

 

[lilchico4life]

Trailing interest is likely what occured.

 

[turbospartan]

Wait they're still offering the 100k points if you do it in a branch? I thought that was over?

Supposedly there is even a targeted mail offer of 120k points...

Once I get confirmation I was approved for this Ink Preferred, I am going to go back into the branch and open up a new "business checking acct" to get the $300 bonus.

 

[Brownstone]

Just called a collector who's holding my $952 I owe Sprint and tried to settle with them I asked that they report to the three bureaus and completely delete it off my account and the representative says they don't do that. What the hell am I supposed to do now

Not pay, honestly the only incentive is to get a delete.

 

[cs02132]

I’m thinking about doing this but there’s no HSBC banks around me. Do u guys know if I’d be able to get the HSBC debit card and deposit to that account through a BofA atm? Does it work like that?

 

[pdino]

Just applied for semi-annual CLIs for all my cards here's how it went down:
B of A Cash Rewards - Currently 24k, applied for 28k= income verification
B of A Travel Rewards- Currently 18k, applied for 25k = Success
B of A Better balance Rewards- Currently 21k, applied for 27k = income verification
American Express Blue Cash everyday- Currently 27k, applied for 35k = income verification
Chase Sapphire preferred- Currently 26k, applied for CLI (didn't have to give a number), given 33k!

Based on this experience it seems that B of A has their income verification right at 25-26k since I got the income verification at 27k. I was surprised that Chase gave me up to 33k with no income verification. Disappointed that Amex wouldn't give me 35k as I had read that they were real liberal with their CLIs.

My last pulled credit score was from applying for a HELOC this last month and Pen Fed sent me a letter that I'm at 790 if it matters.

 

[turbospartan]

I'm interested to see what effect it has on your score (if you keep us updated). I'd figure that once you get to a certain credit limit number / utilization, it wouldn't make that much more of a difference. Maybe not though.

I know people that churn are actually asking for CL decreases, because (at least for Chase) if you have too much credit on 3 different cards, and try to open a 4th - it might put you over their limit and get denied. So people go in and ask for decreases on their existing cards, to ensure that they have "space" for a new card

 

[lilchico4life]

Nice CLI's.

With Amex, just hit the back button on the browser and decrease in increments of $1000 until they approve your limit without income verification. Or you can just submit supporting documents if that makes it easier.

 

[pdino]

I'm interested to see what effect it has on your score (if you keep us updated). I'd figure that once you get to a certain credit limit number / utilization, it wouldn't make that much more of a difference. Maybe not though.

I know people that churn are actually asking for CL decreases, because (at least for Chase) if you have too much credit on 3 different cards, and try to open a 4th - it might put you over their limit and get denied. So people go in and ask for decreases on their existing cards, to ensure that they have "space" for a new card

interesting, I'll try and keep you guys posted to see how my credit score responds. I have one other chase card- Ink Business that I got two months ago (too early for CLI) ago and I'll add to the semi-annual rotation in December.

Nice CLI's.

With Amex, just hit the back button on the browser and decrease in increments of $1000 until they approve your limit without income verification. Or you can just submit supporting documents if that makes it easier.

I just went and tried again with 34k, then 33k... Success! CLI 33k on Amex. Confirmed this works!

 

[lilchico4life]

You'll also receive paperwork for income verification...just disregard it.

 

[UnicornHunter]

Any credit cards that will give a $5000 balance transfer? My credit score is at 740

 

[supersaiyangod]

can i get a secured credit card of $50,000? would that hurt my credit if i got a secured one that high?

 

[Olympus]

So is your FICO score the only score that matters? I use CreditKarma and these us "Vantage Score 3.0". How accurate is this score compared to FICO and does it carry any weight?

 

[lilchico4life]

Any credit cards that will give a $5000 balance transfer? My credit score is at 740

Chase Slate should be able to. This is from their site.

"0% intro APR for 15 months on purchases and balance transfers from account opening.†Same page link to Pricing and Terms After that, 16.49%–25.24% variable APR.†

Transfer balances with an introductory fee of 0% during the first 60 days your account is open.†Same page link to Pricing and Terms After that, the fee for future balance transfers is 5% of the amount transferred, with a minimum of $5."

 

[bostoiah]

So is your FICO score the only score that matters? I use CreditKarma and these us "Vantage Score 3.0". How accurate is this score compared to FICO and does it carry any weight?

The Credit Karma scores are fairly close to your actual FICO. Give or take maybe like a 5-10 points difference in either direction from experience.

But lenders do not look at vantage scores at all. They always rely on fico scores

 

[UnicornHunter]

Chase Slate should be able to. This is from their site.

"0% intro APR for 15 months on purchases and balance transfers from account opening.†Same page link to Pricing and Terms After that, 16.49%–25.24% variable APR.†

Transfer balances with an introductory fee of 0% during the first 60 days your account is open.†Same page link to Pricing and Terms After that, the fee for future balance transfers is 5% of the amount transferred, with a minimum of $5."

I already have chase cards.. and chase wouldn't let me balance transfer from my chase freedom card to the chase slate..

 

[turbospartan]

I already have chase cards.. and chase wouldn't let me balance transfer from my chase freedom card to the chase slate..

https://www.creditcards.com/zero-interest/

 

[jon4rd]

can i get a secured credit card of $50,000? would that hurt my credit if i got a secured one that high?

My guy, you have that much cash on hand to get a secured card balance that high? Your job hiring?

 

[sjsneakerheadiii]

Looks like Chase is making some changes to their rewards as well as the Priority Pass Select for the Sapphire Reserve.

Anyone else receive the email?

 

[lilchico4life]

I already have chase cards.. and chase wouldn't let me balance transfer from my chase freedom card to the chase slate..

Discover offers 14 months 0% APR and Citi Double Cash offers 18 months 0% APR on BT. You may or may not have them.

 

[lilchico4life]

can i get a secured credit card of $50,000? would that hurt my credit if i got a secured one that high?

I don't think any bank offers secured cards with that high limit. Most I've seen is $5k with BoA.

Plus, the whole point is to use the banks money and reap rewards using their money. Why would you want to put up so much of your own money to get a line of credit?

 

[had pants]

Looks like Chase is making some changes to their rewards as well as the Priority Pass Select for the Sapphire Reserve.

Anyone else receive the email?

 

[turbospartan]

Those changes don't seem that significant.