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

Got about 10 inquires due to car shopping a couple years ago that's gonna finally fall off first week of July.

Just cleared all my CC debt.

Got about 6 cards but the highest CL is only $900

Need a big boy card to bump that utilization

I bank with Chase and TD and my car loan is with Chase.

Any suggestions on what card to apply for after everything reports zero?

Looking for a fairly simple card with some rewards, 10K CL, and little to no annual fee
 
para bellum said:
How long should you typically wait to apply for a new credit card, after you've been for another?

I've opened two in the last 8 months, but there are two more I want but don't know about how badly it reflects on my report. Got a great score and payment history, though
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If you’re not gonna buy a car/house or anything in the near future I’d say just go for it. As long as you make payments and everything on time your score will bounce back over time after the slight dip at first
But I churned like 15 cards over a 4 year period so that’s just IMO :lol:


kingfoamnyc said:
Got about 10 inquires due to car shopping a couple years ago that's gonna finally fall off first week of July.

Just cleared all my CC debt.

Got about 6 cards but the highest CL is only $900

Need a big boy card to bump that utilization

I bank with Chase and TD and my car loan is with Chase.

Any suggestions on what card to apply for after everything reports zero?

Looking for a fairly simple card with some rewards, 10K CL, and little to no annual fee
Click to expand...
get the discover it. They match all the rewards you get in the first year and discover is pretty lenient with their credit lines.
If you decide to get it lmk and I’ll refer you and we both get $50 (100 for you since they’ll match it) 👀
 
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cs02132 said:
If you’re not gonna buy a car/house or anything in the near future I’d say just go for it. As long as you make payments and everything on time your score will bounce back over time after the slight dip at first
But I churned like 15 cards over a 4 year period so that’s just IMO :lol:



get the discover it. They match all the rewards you get in the first year and discover is pretty lenient with their credit lines.
If you decide to get it lmk and I’ll refer you and we both get $50 (100 for you since they’ll match it) 👀
Click to expand...
Sounds great. Gonna let you before I apply gonna be around first week of July

Also, any good business cards for new small business owners?

Started my business in March
 
For business I’ve been using chase ink business
-no annual fee
-5% back for Internet, cable, phones service, office supply store.

i put all my Internet/cable/phone stuff on there and let it ride
 
kingfoamnyc said:
What are the baseline requirements for the lowest tier one you have?
Click to expand...

They were all just BS details. You can say you sell **** online and revenue is $2-4k and they should approve. Might check r/churning to see the latest but from what I understand it's all pretty open again. Chase shut down biz apps for a while during pandemic.

The Ink Preferred is the top biz card. I think they currently have a deal for $1k sign up bonus if you can spend $15k+ in the first 3 months. The Ink Cash and Ink Unlimited are both $750 bonus for $7500 spend. Those latter 2 have zero annual fee, and 0% interest for 12 months


Earn 100,000 points with the Ink Business Preferred® card or 75,000 points with the Ink Business Unlimited® card or Ink Business Cash® card. I can be rewarded too, learn more.
www.referyourchasecard.com

Ink Credit Cards | Chase.com

Click to learn more.
www.referyourchasecard.com
1
 
kingfoamnyc said:
Got about 10 inquires due to car shopping a couple years ago that's gonna finally fall off first week of July.

Just cleared all my CC debt.

Got about 6 cards but the highest CL is only $900

Need a big boy card to bump that utilization

I bank with Chase and TD and my car loan is with Chase.

Any suggestions on what card to apply for after everything reports zero?

Looking for a fairly simple card with some rewards, 10K CL, and little to no annual fee
Click to expand...

Amex Blue is awesome because no annual fee, great rewards and because you are a conservative and fellow Knicks fan, I can get you da conservative hook up which includes a free trip to Las Vegas to touch up RustyShackleford RustyShackleford
 
I'm reading this Reddit thread about how the churning game used to be and I am laughing my *** off.

I forgot how before the Great Recession dudes were scamming on another level :lol:

Applying for the same card every month and buying gift cards, opening checking accounts and funding them, and or other **** to met spend requirements

My favorite was the one where dudes would apply for like 20-40 cards in a 5-10min window so the banks would only not see all the hard pulls :lol:

Dudes could put their bonus and 0% cash advances into a CD and make a few thousand dollars easy. If you were willing to risk getting banned from Citi or Amex, and were not planning to buy a house soon, you could make tens of thousands.
 
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RustyShackleford said:
I'm reading this Reddit thread about how the churning game used to be and I am laughing my *** off.

I forgot how before the Great Recession dudes were scamming on another level :lol:

Applying for the same card every month and buying gift cards, opening checking accounts and funding them, and or other **** to met spend requirements

My favorite was the one where dudes would apply for like 20-40 cards in a 5-10min window so the banks would only not see all the hard pulls :lol:

Dudes could put their bonus and 0% cash advances into a CD and make a few thousand dollars easy. If you were willing to risk getting banned from Citi or Amex, and were not planning to buy a house soon, you could make tens of thousands.
Click to expand...

I played some of those games. I self-referred myself from one Chase Ink card to 2 additional Ink cards, so I got 20k points for each referral and then also got the sign up bonuses for each card after hitting the spend. I also churned some bank account bonuses last year, made around $2300 total. Never had 20-40 cards though haha.

MS (Manufactured Spend) is how you could reach a lot of the spending limits, buying Money Orders and **** like that. The card companies are getting hip to all that though, so the loopholes are closing up. You can also MDD (Manufactured Double Dip) to get 2 card applications in at the same time (apply for 2nd card within 24 hours or less than the 1st app) and skirting the "only 1 card" rule.
 
turbospartan said:
I played some of those games. I self-referred myself from one Chase Ink card to 2 additional Ink cards, so I got 20k points for each referral and then also got the sign up bonuses for each card after hitting the spend. I also churned some bank account bonuses last year, made around $2300 total. Never had 20-40 cards though haha.

MS (Manufactured Spend) is how you could reach a lot of the spending limits, buying Money Orders and **** like that. The card companies are getting hip to all that though, so the loopholes are closing up. You can also MDD (Manufactured Double Dip) to get 2 card applications in at the same time (apply for 2nd card within 24 hours or less than the 1st app) and skirting the "only 1 card" rule.
Click to expand...
what can you do now to take advantage of some of this stuff?
 
Bert. said:
what can you do now to take advantage of some of this stuff?
Click to expand...

I haven't paid as much attention lately, but I'd just read some of the common topics on r/churning and see what people are saying / doing. The new Chase Sapphire Preferred (CSP) 100k sign up bonus is currently the best Chase offer out right now, for how many points you can earn relative to minimum spend in the first 3 months. 100k is rare, esp for the CSP (which prior the highest was always 50-80k points, I believe). I'm thinking of signing up for it since I'm fully invested into the Chase ecosystem anyway, and I can transfer those 100k points over to my CSR for 1.5x redemption instead of the CSP's 1.25x.

Something you can do to meet minimum spend requirements within the first 3-months is to buy gift cards at places you're eventually going to spend money anyway. Like grocery store gift cards, then later buy your groceries with those gift cards. Then the side-bonus is usually you get cheaper gas through the grocery store if you buy a bunch of points (make sure you sign up for the rewards programs, like King Soopers / Kroger). Then, at least in Chase ecosystem, you can use the "Pay yourself back" option to erase those grocery store purchases with points at 1.5x value (if you have Chase Sapphire Reserve, or with the CSP is 1.25x). That basically means if you spend $1000 at the grocery store, that would earn you 1000 Chase UR Points. Using the Pay Yourself Back option, it would cost you 8,000 points (instead of 10k) with the CSP card (or 6666 points with the CSR at 1.5x) to pay off that $1000 purchase. So on that $1k purchased, you earned 1000 points ($10 cash value) + save 2000 points when using Pay Yourself Back ($20 cash value) + gas discount (can be $1+ savings per gallon). That doesn't even include the 100k sign up bonus ($1000 cash value). Obviously don't get deep into the game spending money you wouldn't have otherwise spent, but this is just an example of how to use CC to your advantage.
 
I might be refinancing my house soon, but first want to pay off some credit cards. How long should I wait for that to kick in so when they run my credit my utilization is lowered?
 
Got the chase sapphire preferred with the 100k offer. I got the referral from my wife (another 20K). She'll downgrade her card. I brought us a trip to France in October. So I already hit the spend. I'll downgrade the card maybe next year or two. Depending on my travel.
 
If I didn't have the CSR card I'd be in on the CSP card - with the increase fee for the CSR the CSP is a no brainer especially with 100k points being offered right now.

Out of the major rewards (UR, MR, etc) I find Chase Ultimate Rewards the easiest and best to redeem. 100k offer may expire soon - 7/17 last I saw. Not sure if it's referral base or open to everyone but here's a link if you can't get into a teller due to appointments.

www.referyourchasecard.com

Chase Sapphire Preferred Credit Card | Chase.com

Click to learn more.
www.referyourchasecard.com
 
sole searchin said:
If I didn't have the CSR card I'd be in on the CSP card - with the increase fee for the CSR the CSP is a no brainer especially with 100k points being offered right now.

Out of the major rewards (UR, MR, etc) I find Chase Ultimate Rewards the easiest and best to redeem. 100k offer may expire soon - 7/17 last I saw. Not sure if it's referral base or open to everyone but here's a link if you can't get into a teller due to appointments.

www.referyourchasecard.com

Chase Sapphire Preferred Credit Card | Chase.com

Click to learn more.
www.referyourchasecard.com
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I have the CSR as well, and wondering if I should apply for the CSP 100k and eventually bump the CSR down to a different card because of the annual fee. I haven't minded the annual fee in years past (had the CSR since the 100k offer, which I think was 2017?) but not sure if its worth it for me.
 
Best method to apply for a card when you haven’t been offered one via mail/email? Wanna get a chase card
 
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