Credit Card Question

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carl winslow

Sicc OG
#1
Dec 17, 2004
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#1
i need to open a new credit card. already got one through my bank, but will be needing more spending money in a few weeks.

i dont know shit about credit cards. any recommendations as to what company to go with or stay away from?

i plan on just using it for living expenses until my school loan money comes in in mid september then cutting it up
 
thascary1

thascary1

Sicc OG
#3
Mar 16, 2005
6,904
403
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#3
you dont know shit about credit cards should mean you shouldnt be getting one!

espcially for "living expenses" unless you have a card that you are paying off monthly and only using for living expenses because of the rewards you get on the card you should not be using in that capacity
 
Zer0.MediA

Zer0.MediA

Sicc OG
#4
Nov 14, 2002
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#4
If you need to ask the siccness for credit advise, you shouldn't be fucking with credit cards.

And LoL @ "I have one already but I'll need more spending money soon" when talking about a credit card. Credit cards aren't spending money.
 
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carl winslow

Sicc OG
#5
Dec 17, 2004
3,694
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#5
alright let me explain damn it. i will be moving to new york city for school. it will be paid for through school loans. i have a credit card already through my bank, but its only got a $300 limit. ive had it for about half a year or so and have always made my payments to build my credit.

i will be moving to nyc around mid august and will be staying at a hostel or hopefully crashing somewhere until i find my own place to live. therefore, i will be needing money to put down deposit and first months rent at a place. this i have cash for. ill also need money for lodging, food, transportation, etc.. that is until i get my loan check in mid september. with the amount of money i have saved up, i dont think ill have enough to get me through to mid september on those expenses so i think i need to take out an additional credit card.

i plan on paying it back in full as soon as the loan money comes in. then cutting it up. im not at all a big spender. i dont buy clothes, shoes, electronics, or any material things like that. having the card wont make me go on shopping sprees.
 
Mac Jesus

Mac Jesus

Girls send me your nudes
#6
May 31, 2003
10,764
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#6
Get one with a really large limit, so you can max that shit out. 2012 is coming and debts won't matter anymore anyways.
 
Mr. Nice Guy

Mr. Nice Guy

Sicc OG
#9
Nov 24, 2003
6,307
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#9
OutcastedOutlaw said:
none stay away from them.

only have 1 for emrgency
Click to expand...


How would you build up your credit score?


The better credit score you have the better interest rates you will qualify for on auto/home loans.


Not to mention if you get one with good rewards - I get a companion ticket every year and I have taken multiple free flights funded by the airline miles I get for purchases on my credit card.
 
MysticOracle

MysticOracle

si vis pacem para bellum
#10
May 4, 2006
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707- VALLEJO
#10
if its your first card...chances are its gonna be a low limit with a high APR ( annual percentage rate ) thats where they get you...when you make your payments on time but your only paying on the interest occurred and not the principal....if its your first card you wont be getting some amazing deal...read the fine print, check the APR

keep a card for emergency use only such as gas or food....dont max it out..stay within your means that way when you get your bill you can pay it off and not get fucked on interest charges...it takes time regardless to get a great credit score...they want to see that you can make your payments on time, they also hope to see you fuck up thats how they get paid
 
E

ESFCE

Sicc OG
#12
Dec 4, 2004
6,223
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#12
Look into American Express. I have a Blue Cash card with $2,000 limit and if I buy groceries, gas, etc they give me points toward cash back...and it's credited on my bill.
 
NAMO

NAMO

Sicc OG
#14
Apr 11, 2009
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#14
Mr. Nice Guy said:
How would you build up your credit score?


The better credit score you have the better interest rates you will qualify for on auto/home loans.


Not to mention if you get one with good rewards - I get a companion ticket every year and I have taken multiple free flights funded by the airline miles I get for purchases on my credit card.
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You have to start off small, start with having a regular paycheck and by paying phone bills ect. Then hit up the bank for a small loan, make the payments each month and you will get a good credit rating.

Foul Mouth said:
dont listen to anyone that says there not good, the only people who say that are the people who fucked them selves over and blame it on the card.........
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Uhm no. Credit card companies are like loan sharks, but instead of broken ribs, you get all your shit taken away. The reason why I am telling him not to get one (and please take my advice Carl) is because credit card companies love giving cards to people they know can't pay them back, he is their prime target, trust me on this.
 
M

MKB

Sicc OG
#17
Dec 19, 2002
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#17
Since nobody actually wants to help take a look at this site:
http://www.bankrate.com/credit-cards.aspx

I am not sure which ones will give you the best limit but I applied for a Sears Visa and the limit is $8k. I also have a regular old Discover card and you get rewards for different things each mont but the limit started low, I was also in school when I got it so I can't really compare the limit to the Sears card. The other thing to think about if you are going obe using it for a lot of stuff is where it is accepted, I notticed a lot of places don't accept Discover and American Express.

Good luck with the move though, your going to NYC for grad school right? I remember the thread you had a while back when you were trying to decide to go or not. It sounds like you got the loan situation all figured out too so that is good news.
 
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ESFCE

Sicc OG
#18
Dec 4, 2004
6,223
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#18
OutcastedOutlaw said:
credit card companies love giving cards to people they know can't pay them back, he is their prime target, trust me on this.
Click to expand...
If that was the case, then anyone could be approved for a credit card. There's a reason credit card companies do a hard credit check when you apply for a card. Your credit score obviously tells them if you've been good with paying bills in the past.

That might apply to some companies that are desperate for customers, but the top ones they always check your credit history before approving you for a card. They can see if you have alot of outstanding debt with other cards, and any delinquent accounts, etc. I know from experience and have been rejected when applying for a new card when my credit score was lower than usual, same went for when I requested that my limit on one card be raised.
 
Mac Jesus

Mac Jesus

Girls send me your nudes
#19
May 31, 2003
10,764
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#19
If you don't pay your credit card bills, a company will buy the debt from the company that issued the card and then collect. If you believe everything you see and hear on youtube then what happens is this company buys your debt for 5 cents on the dollar. If you negotiate properly you can settle for 10 to 15 cents on the dollar.

Sounds like a pretty good reason to go on a spending spree with that credit card you're getting. Trust me, I seen youtube videos and im basically a financial advisor now.
 
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