Applying For Credit Cards
- Thread starter BayCal
- Start date
When I first started building my credit, I started with secure loans through my bank. Then I got small signature loans and small credit limit cards. If you just trying to build your credit, get a card with no fees and a small limit. That way if you get out of control with it, the balance is small.
I had credit problems because of my mom before I was even 18. I filed BK when I was 20. Last time I had my credit checked (Jan 07) my score was in the 800's from the methods I used above. I also had a few car loans and personal loans mixed in there.
If you are just building your credit (or even if you are not) try to find cards that don't hit you with stupid charges and fees before you even get it. My first CC after my BK was one with a $500. When I got the card, it already had $159 or so on it. membership fee, account start up fee, etc.
Like I said, I built my credit through loans mostly. sometime I would get a loan for $1000. Put that money in the bank and not touch it and pay back the loan. Saving money AND building my credit at the same time
Cant disagree with that. But like I was saying, if you DO get one, get cards with no limits and no fees. And use it, but as little as possible. Having a $0 balance isn't good because you aren't showing a history of making payments. Bt you also don't want to run it up to the limit.
I have a Best Buy card that I use on a regular basis. But I have the balance under control.
I had credit problems because of my mom before I was even 18. I filed BK when I was 20. Last time I had my credit checked (Jan 07) my score was in the 800's from the methods I used above. I also had a few car loans and personal loans mixed in there.
If you are just building your credit (or even if you are not) try to find cards that don't hit you with stupid charges and fees before you even get it. My first CC after my BK was one with a $500. When I got the card, it already had $159 or so on it. membership fee, account start up fee, etc.
Like I said, I built my credit through loans mostly. sometime I would get a loan for $1000. Put that money in the bank and not touch it and pay back the loan. Saving money AND building my credit at the same time
Cant disagree with that. But like I was saying, if you DO get one, get cards with no limits and no fees. And use it, but as little as possible. Having a $0 balance isn't good because you aren't showing a history of making payments. Bt you also don't want to run it up to the limit.
I have a Best Buy card that I use on a regular basis. But I have the balance under control.
Maybe, but not in all cases. I scored pretty high on my credit report and I tried gettin' a card through my bank... they wanted a 23% interest rate... I said, "fuck that"... I get better offers through the mail. Like 0% APR for at least a year. Then when that year is up, I usually just balance transfer to another CC with a 0% APR for another year and so on and so on.
The best way to get a good credit score is to carry 4 tradelines, with at least 2 of them being revolving accountss (CC, Etc). A good CC to start out with is a gas card. Whatever credit cards you do get, carry a balance of 1/3rd of your limit. If you have a $300 limit, carry a $100 balance. use the cards and pay them down to the 1/3rd monthly, and you will gain points hella fast.
Also, go to optoutprescreen.com and sign up there. What that does is bar creditors from running phantom credit reports to send you the 'you are pre-approved' credit card offers. The phantom credit reports they pull on you still affect your scores. When you sign up for optout, your score will usually increase by about 10 points within 30 days.
Also, go to optoutprescreen.com and sign up there. What that does is bar creditors from running phantom credit reports to send you the 'you are pre-approved' credit card offers. The phantom credit reports they pull on you still affect your scores. When you sign up for optout, your score will usually increase by about 10 points within 30 days.
yall dont like credit cards cuz yo ass cant manage them correctly.
fuck the negativity bullshit. i pay my card off a month before the shit is even due.
it puts 700+ virtual dollars in my pocket that i can pay back.
all you need to do is make sure you can pay for what you put on the account in the proper amount of time. and if theres interest, pay that shit off hella early.
for instance: i dont get paid till friday. so i took 80 dollars out of my credit card, filled my tank, bought an eigth. on friday, 80 dollars will be transferred to my credit card at 12am.
shits helped me out ALOT.
my balance is 427.00 right now, 200 and im paying half of it off on friday and the bill isnt sue till september 29th.
leaving me with a month and a half (3 checks) to pay off 215 dollars or so. and ill prolly get it down to two.
fuck the negativity bullshit. i pay my card off a month before the shit is even due.
it puts 700+ virtual dollars in my pocket that i can pay back.
all you need to do is make sure you can pay for what you put on the account in the proper amount of time. and if theres interest, pay that shit off hella early.
for instance: i dont get paid till friday. so i took 80 dollars out of my credit card, filled my tank, bought an eigth. on friday, 80 dollars will be transferred to my credit card at 12am.
shits helped me out ALOT.
my balance is 427.00 right now, 200 and im paying half of it off on friday and the bill isnt sue till september 29th.
leaving me with a month and a half (3 checks) to pay off 215 dollars or so. and ill prolly get it down to two.
I'm the same way Gas One, but there are fools out there that just don't know how to manage they money... my mom bein' a perfect example. That bitch gots like 4 cc's and everyone of them bitches are maxed and have been maxed so she's payin' hella interest on all of 'em. Blah though, she's a stupid gambling bitch... guess its expected from her. But I've seen some friends get in real bad debt cuz of cc's, so if you are one of them people that slack, gamble, or are careless with they money or paying bills and don't take care of shit and manage your money, then don't get one, otherwise yeah... I agree w/ Gas One... when in need they help a bitch out.