joe rogan
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they did you a favor xxx's are trash
24 Looking to build Credit... What are some good tips on your first Credit Card
- Thread in 'General' Thread starter Started by trynafeelmink,
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Type of credit plays into it as well.
Your length of credit history is definitely a factor. You only have one credit card?
Is there a reason you need a credit score over 730?
joe rogan
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I only have a Discover IT card that was approved for (4500 CL) 4 months ago
That was the first time I've put my name on anything. Since then got a verizon/rent/car (cosigned by my dad)
Is 730 a good score? I'm 22 btw (which kind of explains the short length of credit)
No particular reason. I'm just trying to raise it as high as possible for a house in future
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Yes, 730 is good. You're on the right path. Keep doing what you're doing and add another credit card/raise your limit down the line.
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Time and installment loans (car loan, personal loan, mortgage loan) are pretty much the only things that will boost your score.
Only get CCs you need.
Only get CCs you need.
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From what I understand having a high % of utilization is a negative. But let's say I spend 2,000 out of my 2,500 limit, but pay it all of when payment is due, is my score still negatively affected?
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For that one month yes, your score will go down. It will go back up the next month if its paid off.
You don't have to wait until the statement cuts to pay the balance.
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Your credit score is based on borrowing. The more you borrow and pay back, the more you will be rewarded with a higher score.
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Question. I have a store card that I neve ever use. What should I do with it? Nothing happens to my credit if I just let it sit there with a 0 balance right?
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Let it sit
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Nope, just throw it in the sockdrawer and forget about it.
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Is it cool to pay off my balance on the same day the statement cuts? I know it doesn't clear automatically anyway...
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Use it once a year or the creditor may slash your limits. That will drop your score at least a few points.
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What store does that? I have a Gap card I haven't used in over 2 years and nothing has happened with its limit the last time I checked.
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I do t think I've heard of reducing limits, mainly they will just close the account
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Same.
I try to use all my non-used cards every 11 months or so on a $1 Amazon gift card to myself
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Target, Walmart, Nordstrom, Macy's have all closed my accounts without notice after over a year of inactivity.
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I didn't use my Macy's account for over a year. When I finally decided to use it one day, the cashier had to call customer service for verification.
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Screen shots of the Chase Sapphire Reserve card.
http://www.doctorofcredit.com/heres-chase-telling-bankers-upcoming-sapphire-reserve-card/
http://www.doctorofcredit.com/heres-chase-telling-bankers-upcoming-sapphire-reserve-card/
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Going to have to decide which sapphire ill open this fall
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Gotta have to wait a year to get that sapphire reserve because I'm right at 5/24 
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Someone break down the Sapphire reserve for me. I read a little about it but am still confused. I would definitely qualify and seems like a sought after card. Just not sure how it would benefit me.
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What are you confused about ? Click on the link.
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I mean the sign up bonus (100,000 ultimate rewards points), the $300 airline credit each year, and the 50% bonus for redeeming ultimate rewards through the portal is enough evidence to benefit anyone I think
. So when you get the sign up bonus if you redeem through the ultimate rewards portal you're getting $1,500 worth of travel/hotel/activities or whatever. 3x rewards points on travel and dining then the $300 airline credit essentially brings the annual fee to only $150 a year it's a no brainier
