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

[humpasaurus rex]

Finally got my Discover Double Cash Back bonus $500+ : hat

With credit cards I use them on a category basis. Depending on which one is in a bonus category I'll use. Discover and Amex have good discounts through their site too, like Nike is 15% off online. For more info on how to use credit cards to your advantage check out https://www.reddit.com/r/churning/

View media item 2261078

 

[capital sb]

I think people in this thread focus too much on CLs. Ain't eem really all that important tbh. Yes it's better to have higher CLs to reduce utilization %, but there's no reason to be upset that Discover denied you it one time.

A lot are focused on things that don't matter if you aren't using your credit to get something.

 

[wrightone86]

 
I just hit the Luv button Discover gave me a $1500 increase . Currently at $14,500 started at 5K Nov 2014.

I've only requested maybe 5 increases . Will start requesting monthly .

What is this Luv Button you speak of? 

Granted, they opened me at 21k, so I never even bothered with a CLI with them 

I was on Best Buy's CC site making a payment and updating my information (income, etc) since I hadn't in over 6 years. Once I finished, for the hell of it, I did a CLI for 5k. I was approved before my lunch break was over 

Don't even plan on making a purchase, but figured since they were still referencing old information, I might as well ask for the increase since I updated and it had changed......a lot 

 

 

[capital sb]

 
What is this Luv Button you speak of? 

Granted, they opened me at 21k, so I never even bothered with a CLI with them 

I was on Best Buy's CC site making a payment and updating my information (income, etc) since I hadn't in over 6 years. Once I finished, for the hell of it, I did a CLI for 5k. I was approved before my lunch break was over 

Don't even plan on making a purchase, but figured since they were still referencing old information, I might as well ask for the increase since I updated and it had changed......a lot 

 

The credit limit increase button lol. Might as well increase your Discover while your at it.

 

[eyanks]

Man what are yall planning to do with all that credit. Whatever it is, I want in

Utilization % will go down, and I have it so I don't have to ever worry about being too close to my balance. No way would I spend anywhere near 30K in a month, but I have spent 8K when i moved and bought all new furniture, etc. It was nice to be able to put them on one card and not be concerned about going over my limit.

 

[theknowledgeableprofessor]

Utilization % will go down, and I have it so I don't have to ever worry about being too close to my balance. No way would I spend anywhere near 30K in a month, but I have spent 8K when i moved and bought all new furniture, etc. It was nice to be able to put them on one card and not be concerned about going over my limit.

Never thought about it this way. On point.

 

[Benny Hinn]

Reached 4k on my CSR

Amex gift card no fees promo plus Venmo trick was clutch

Now where to travel to?

 

[gm0ney561]

Thinking about taking the 1,000 cash back from csr and using my $300 travel credit then canceling my card. It would take me over a year to use my travel credits and I don't want to get hit with that annual fee again. If they continue the promo then I could re apply in two years..

 

[royster]

Good morning NT,
I am going to purchase a plant ticket to visit family halfway around the world.
I was wondering if purchasing the ticket with a 0% interest CC would be a good move and if so which one?
My credit score is low 700's.

 

[based mod]

I'd shoot for the Chase Sapphire Reserve if you can meet the $4k spend in 3 months, especially cause it has 3x points for travel.

If you're going for 0% APR cause you can't afford the plane ticket if paying by cash, I'll let somebody else chime in.

 

[RayCashhhh]

So this morning Citi sent me a pre-screened offer for the Double Cash card with no annual fee and 9 months no APR... I applied for my first CC (secured) in July with Discover, so that was five months ago I got a hard pull on my credit. Is it worth pulling the trigger for the Citi card, both in terms of its value and the effect a hard pull would have on my credit score? My score is 662 currently

 

[royster]

TYBG and yes looking at the 0% APR because funds are tight and would like to pay off the flight ticket with credit. I am interested in opinions on a great CC with this in mind.

 

[archiballer]

So this morning Citi sent me a pre-screened offer for the Double Cash card with no annual fee and 9 months no APR... I applied for my first CC (secured) in July with Discover, so that was five months ago I got a hard pull on my credit. Is it worth pulling the trigger for the Citi card, both in terms of its value and the effect a hard pull would have on my credit score? My score is 662 currently

Do you have any other hard pulls on your report? Do you NEED another credit card? Double cash back and no interest are good perks, that with on-time payments with overturn the negative (if any) that the hard pull would have.

 

[jon4rd]

So this morning Citi sent me a pre-screened offer for the Double Cash card with no annual fee and 9 months no APR... I applied for my first CC (secured) in July with Discover, so that was five months ago I got a hard pull on my credit. Is it worth pulling the trigger for the Citi card, both in terms of its value and the effect a hard pull would have on my credit score? My score is 662 currently

Hard pulls don't affect your score much (like 10 points maybe) and they dont affect it after one year (stay on your report for a year though). It may drop your average age of accounts but eventually your avg age will increase eventually and your score will bounce back. I'd say go for it

 

[RayCashhhh]

Do you have any other hard pulls on your report? Do you NEED another credit card? Double cash back and no interest are good perks, that with on-time payments with overturn the negative (if any) that the hard pull would have.

Having another card could potentially raise my credit line and significantly drop my utilization ratio (I'm still in college, so there's no need for me to spend >$200 a month. At this point, I shouldn't buy more than $100 per month through credit.

Hard pulls don't affect your score much (like 10 points maybe) and they dont affect it after one year (stay on your report for a year though). It may drop your average age of accounts but eventually your avg age will increase eventually and your score will bounce back. I'd say go for it

Yeah I am thinking about doing it, as long as I'm responsible I'll get the score back in no time the more I think about it.

 

[archiballer]

In that case go for it. Use them, especially for the cash back and points back, pay them off and enjoy the nice credit building. I wish when I was in college I had this information. Good luck fam and flourish

 

[simba king]

Wanna add the AE Blue card to the team...but then I don't want to take the Hard pull hit, and lower credit age...lol

Struggle is real trying to keep that score up

 

[based mod]

Wanna add the AE Blue card to the team...but then I don't want to take the Hard pull hit, and lower credit age...lol

Struggle is real trying to keep that score up

Unless you're planning on pulling out a car loan or mortgage soon, just do it.

 

[simba king]

Wanna add the AE Blue card to the team...but then I don't want to take the Hard pull hit, and lower credit age...lol

Struggle is real trying to keep that score up

Unless you're planning on pulling out a car loan or mortgage soon, just do it.

Did it...Got hit with a 10k limit

 

[sober thoughts]

Do you have any other hard pulls on your report? Do you NEED another credit card? Double cash back and no interest are good perks, that with on-time payments with overturn the negative (if any) that the hard pull would have.

Having another card could potentially raise my credit line and significantly drop my utilization ratio (I'm still in college, so there's no need for me to spend >$200 a month. At this point, I shouldn't buy more than $100 per month through credit.

Hard pulls don't affect your score much (like 10 points maybe) and they dont affect it after one year (stay on your report for a year though). It may drop your average age of accounts but eventually your avg age will increase eventually and your score will bounce back. I'd say go for it

Yeah I am thinking about doing it, as long as I'm responsible I'll get the score back in no time the more I think about it.

A hard pull will causing a drop of about 35 - 40 points, which lasts about 60 to 90 days if you were approved after another two months your score will rise again . A hard pull will stay on your report for two years.

 

[sober thoughts]

Sry dp

 

[jon4rd]

A hard pull will causing a drop of about 35 - 40 points, which lasts about 60 to 90 days if you were approved after another two months your score will rise again . A hard pull will stay on your report for two years.

what kind of hard pulls have you had bro? Hard pulls are only like 5-10 points. Maybe your age of accounts will affect your score that much if you don't have many other credit lines that have been established for that long but a hard pull won't drop your score that much. And it only affects your score for one year, but it will show on your report for 2

 

[sober thoughts]

A hard pull will causing a drop of about 35 - 40 points, which lasts about 60 to 90 days if you were approved after another two months your score will rise again . A hard pull will stay on your report for two years.

what kind of hard pulls have you had bro? Hard pulls are only like 5-10 points. Maybe your age of accounts will affect your score that much if you don't have many other credit lines that have been established for that long but a hard pull won't drop your score that much. And it only affects your score for one year, but it will show on your report for 2

Discover showed me different lol

 

[freshpairs]

I want an amex blue just to say I have one and the card looks nice. Dont like the perks though

 

[thadangerousmind]

I could care less about hard pulls. I've never lost more than 5 points on one. 35-40 sounds ridiculous.