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

[turbospartan]

Yeah, I have extra Job income and drone based income to pay extra monthly, like around 700 a month to attack debt with. The drone income is variable though sometimes I make more sometimes less.

And discover max is at 10k
But I see your logic on the 30%

One of the 0% balance transfer cards might help you out with your situation (debt + wife surgery), to give you time to chop it down. That said, you'd probably want to get your balances down to 30% or less, let your credit score increase a bit, and then apply for the 0% card. If the Discover card limit is $10k, you should use about half of your $6.3k cash to pay it down to under $3k, then do the same for the Chase and CapOne if you can.

If you do go the Balance Transfer route, make sure you pay off the debt within that 0% time frame. Don't just delay it thinking you have 12-18 months and start buying **** to go even further into debt. Not saying thats what you'd do, just that a lot of people get caught into that trap and procrastinate.

 

[BIG LEEMELONE]

Yeah, I have extra Job income and drone based income to pay extra monthly, like around 700 a month to attack debt with. The drone income is variable though sometimes I make more sometimes less.

And discover max is at 10k
But I see your logic on the 30%

What's the drone business?

 

[melo0115]

One of the 0% balance transfer cards might help you out with your situation (debt + wife surgery), to give you time to chop it down. That said, you'd probably want to get your balances down to 30% or less, let your credit score increase a bit, and then apply for the 0% card. If the Discover card limit is $10k, you should use about half of your $6.3k cash to pay it down to under $3k, then do the same for the Chase and CapOne if you can.

If you do go the Balance Transfer route, make sure you pay off the debt within that 0% time frame. Don't just delay it thinking you have 12-18 months and start buying **** to go even further into debt. Not saying thats what you'd do, just that a lot of people get caught into that trap and procrastinate.

That's some sound advice for the cards and percentages, def going to adhere to that in the best way I can. With you guys input and ideas I was already thinking, I have something put together. Going to execute after work.

I'm definitely doing the balance transfer route. Nothing better than 0%. And yeah thanks for the tip. I have done that before, successfull paid of balance transfer before time period, and i've let it go past the time period and had to pay that interest post. What ever I can balance transfer I will, and if extra ill see if my local credit union can give me a low rate loan. I know in late October there's like one more big charge coming from the surgery end.

 

[melo0115]

What's the drone business?

I've been been flying all types of drones since like 2015.
I have DJI drones and some fpv drones.

So, I just do jobs here and there for music artist, and people who love their cars(Plus whatever else someone would pay me for). I'm trying to get connected with real estate agents and do houses(properties). But I still haven't taken the test for the certification you need, which allows you to get insurance on jobs.
More professional clients look for it when paying for drone work. Plus, it's required by law.

I know most of the FAA(Federal Aviation) test based things you need to know, just haven't sat down and went over the study tings.

It's a hobby / side income thing. I just love flying drones, even if I wasn't getting paid for it.

 

[fluid hips]

Look for a 0% balance transfer offer.

I keep getting them in the mail for some reason and I don't carry a balance. Chase freedom just sent me one yesterday.

 

[slaughterx]

Surprised you guys dont refer each other more often. Leaving free money on the table.

 

[fluid hips]

Recent sign up bonuses been trash. Haven't been churning like I used to.

 

[cs02132]

Same I ended up cancelling my newest discover card (they said you’re only allowed 2 accounts) and opened up a discover it balance transfer version..all the same benefits as the og it card but I’m just not gonna transfer anything

 

[mplsdunk]

score got to 813, I was at like 720 and paid off 10k on an interest free credit card. guess that did it.

 

[slaughterx]

My **** just dropped dramatically to 680 after this damn solar panel loan. I'm not trippin because there's nothing I need to buy that requires a credit check, but goddam. It will be back up over 700 by the end of the year I'm sure. About to pay off my AMEX and that will be the end of all my interest bearing credit.

 

[akademikgenius]

Any of y’all ever opened a business CC to do a balance transfer? Heard I can avoid CC utilization by doing this

 

[melo0115]

....

 

[cs02132]

Man I might have to sign up for an Apple Card after I run through this discover 1 year promotion. This month it’s 5% back on Apple Pay and it’s making me realize how much I use it. I’m already about to hit the $75 quarterly limit on discover

 

[melo0115]

Yeah, that 0% interest on apple products and cash back is clutch. Handle around 4 transaction in that form so far.

 

[ballinsam23]

Apple Card is my daily. I use so much tap to pay and Apple Cash, it made sense. Nice getting the bonuses back daily too.

 

[spizike231]

I got the Apple Card for card security and the integration to my phone / ease.

I’ve also dealt with customer service thru text to update info / request line increase and it’s really quick / easy.

It’s the only cc I really use / carry these days unless I do a store specific purchase or finance.

 

[alexody]

Anybody ever do a balance transfer where they told the CC company to send a check?

 

[akademikgenius]

Anybody ever do a balance transfer where they told the CC company to send a check?

didnt even know this was an option

 

[alexody]

Capital One gave me the option and I just chose it cuz it seemed faster

 

[kingfoamnyc]

First step to build business credit?

Business is approaching 2 years in March

Best secured business card?

 

[ICE CITY CF]

First step to build business credit?

Business is approaching 2 years in March

Best secured business card?

Business credit cards are far less stringent and less dependent on business credit scores than consumer credit. I have no idea what my business score is.

You don’t need a secured card, I don’t even know if those exist. Go straight for a premium card like the Chase Ink Business Preferred.

 

[turbospartan]

Yea LMK if you need a referral to one of the Chase business cards.

If you are planning on spending quite a bit, you can earn a pretty nice sign on bonus. 100k Chase UR points ($1k cash, or if you use their portals / points you can get better value than straight cash) for spending $15k in 3 months on the Chase Ink Preferred. 75k ($750) if you spend $7500 in the first 3 months on Ink Unlimited (which is 1.5% cash back on all purchases, and 0% for 12 months).

 

[kingfoamnyc]

I haven't really generated any revenue through my site so I'm not sure I'll even get approved for those type cards

Just need something to get started

 

[ICE CITY CF]

I haven't really generated any revenue through my site so I'm not sure I'll even get approved for those type cards

Just need something to get started

I've created two businesses in California over the years, just single-member LLCs for any 1099 contract work.

Both times I've applied for Chase business cards the second I got my EIN, so basically day 0, and no revenue to speak of.

You might get denied but just call the Chase reconsideration line. You will probably end up speaking to one of their underwriters.

Just be prepared to talk a little bit about the basic details of your business, how you plan to generate revenue, etc.

If your personal credit is good you shouldn't have an issues based on business credit or revenue, or lack there of.

 

[fluid hips]

Yea be prepared for questions like money laundering