Lets talk credit and credit cards

Old Man Cain said:
If you have a Netflix or TV subscriptions use your credit card to pay for them. Then pay it off before the 30th of each month and just keep doing it for about a year if possible. That'll establish to creditors that you have a solid credit history.

Also buy gas on your card as well but just remember to pay the card off before the new cycle starts. It'll will help you out then just rinse and repeat.
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I like to pay it as soon as it shows up on my transactions

I was gonna use cash anyway so at least lemme get this lil perk first
 
This a good thing, right?


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grYmes said:
Capital One don’t care long as you have a pulse they’ll give you money. APR maybe high as fuck tho. I got a car loan from them ten years ago I paid it off as quick as I could cuz the interest was insane. I was at a bad spot at that point tho.
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You weren’t lying. The apr is damn near 30

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Mod_Ro said:
Applied for it today. It went through. Only a 200 limit but I’m gonna put a few bills on this card and pay it off at the end of the month
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Word of advice, because your credit limit is small for now, be careful with your utilization rates. It’s not just a matter of paying it off at the end of the month, if the utilization is too high it will be a bad look. Most places advise you to keep out below 30% by the statement closing date, but I would honestly aim for 10%.

For example, if you put $180 on it, pay off $160 before the statement closing date, that way it will report only $20/10% utilization.

Also, don’t forget to request a credit limit increase every 5-6 months. You can do it in the app and it takes like 2 mins.
 
Mod_Ro said:
I’m thinking about getting that card too. Should I? I already got the discover secured card
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ehhh look up the details and decide from there if it will work for you

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www.navyfederal.org

cashRewards Secured Credit Card

Earn unlimited 1% cash back, build credit and create a better financial future. cashRewards Secured offers 1% cash back on all your purchases with a great interest rate, no foreign transaction fees, and no annual fee.
www.navyfederal.org www.navyfederal.org
 
Inori said:
ehhh look up the details and decide from there if it will work for you

View attachment 1471283

www.navyfederal.org

cashRewards Secured Credit Card

Earn unlimited 1% cash back, build credit and create a better financial future. cashRewards Secured offers 1% cash back on all your purchases with a great interest rate, no foreign transaction fees, and no annual fee.
www.navyfederal.org www.navyfederal.org
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I’m already pre approved too
 
Old Man Cain said:
It won't take a big hit like you think it will. You may drop 10-30pts or you may rise 10-20pts. The problem comes when trying to establish new credit
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My shit dropped 26 points today because the discharge went through and the oldest accounts finally closed but not surprised
 
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I used to have no credit, because everything i paid for was from what i had in the bank. Never liked the idea of paying for something i didnt have. But it wasn't until i tried renting a property and got turned down that i had realized that i need to have credit. So i just kept credit cards low and pay them off asap and i keep a pretty good score.
 
Hate credit cards. I have one to put trips and big purchases on because it’s easier to dispute if something goes wrong.

The only ones I’ll consider are store types with no interest for a certain period. I’ll setup automatic payments and pay it off before the end of the period.
 
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