Credit Card Discussion Thread

[DrunkenNovice]

 

[JahFocus CS]

Welcome to the magical world of manufactured spending where people move money around without actually spending much of anything just to reap the benefits.
Manufactured Spending - FlyerTalk Forums

Brilliant.

 

[Hard Times Nakamura]

Don't make this shyt TOO popular otherwise they'll close the loophole!

 

[mannyrs13]

Saw my score went up 10 points on Equifax and TransUnion in credit karma. Back up to Excellent status.

Mainly due to a credit limit increase and lowering some balances. I do gotta get back on track from some recent vacation spending. My overall utilization is 8% but my Amex is at over 50% right now. I have until 2018 before the promotional period ends but I don't like using too much of a %. Don't know how much of an impact individual cards have on your score compared to overall. Goal is to be atleast 775 before the year ends.

 

[Apollo Creed]

Saw my score went up 10 points on Equifax and TransUnion in credit karma. Back up to Excellent status.

Mainly due to a credit limit increase and lowering some balances. I do gotta get back on track from some recent vacation spending. My overall utilization is 8% but my Amex is at over 50% right now. I have until 2018 before the promotional period ends but I don't like using too much of a %. Don't know how much of an impact individual cards have on your score compared to overall. Goal is to be atleast 775 before the year ends.

You have an amex charge or credit card? I have the gold rewards charge card and love the point system but charge cards dont do much for your score. The thing is i have had the card since 2011 so i dont want to cancel since its an older account BUT it makes nonsense to get a new cc to use as a replacement because the Amex has an annual fee so i would be getting anything back to offset it.

 

[ViShawn]

I'm trying to get a CLI on my CSP. They asked for my income so I should get one soon or at least the offer entertained to me.

 

[mannyrs13]

You have an amex charge or credit card? I have the gold rewards charge card and love the point system but charge cards dont do much for your score. The thing is i have had the card since 2011 so i dont want to cancel since its an older account BUT it makes nonsense to get a new cc to use as a replacement because the Amex has an annual fee so i would be getting anything back to offset it.

It's a regular credit card. Blue everyday card one. This one has no annual fee. The rewards is straight with up to 10% back from Amazon for up to $200 but the regular rewards are nothing special. Or maybe because I don't use much on it due to my income. I'm just using it now because of the no interest. I don't think there's a card that has enough on rewards to be worth paying an annual fee.

 

[Apollo Creed]

It's a regular credit card. Blue everyday card one. This one has no annual fee. The rewards is straight with up to 10% back from Amazon for up to $200 but the regular rewards are nothing special. Or maybe because I don't use much on it due to my income. I'm just using it now because of the no interest. I don't think there's a card that has enough on rewards to be worth paying an annual fee.

Lol nah I travel a decent amount so the airline fee among other things cover the annual fee. I get alot of cashback via perks because i use my amex like cash. The only issue i have is charge cards dont really count towards your credit score since they have no limit. This could be a good or bad thing depending on your goals.

 

[Apollo Creed]

To piggyback on the PayPal charge to yourself, you can also get the square credit card slider for free and avoid PayPal funny ways I which they like to freeze money and what have you. Basically its a POINT of sale device on your phone and you link your checking account and swipe your credit card to your square account. The money will deposit instantly into your checking and I believe at a lower processing fee than PayPal as Well. I did it as a test the other day to do a cash advance without paying the fees and it worked lovely. No cash advance fees or atm fees. Just the processing fee

why TF didn't I think of this


And they don't trip about the transaction being tied to something in your name? Or do you just open a PayPal business account?

 

[mannyrs13]

Got a cli on my boa cash rewards card. Went from 5k to 7500. Didn't want to request some ridiculous amount and lower my chances. This should lower my utilization on the card to under 10% and help my overall utilization. Only issue is I heard after that they do a hard pull. Which hopefully won't hurt me too bad. I already have a few of those from a car cosign back in September. Hopefully the lowered utilization rate can help offset the damage. If I keep my balances low and stay consistent with my payments, I should be ok. Just gotta stay under 10% on that card.

 

[hatealot]

why TF didn't I think of this


And they don't trip about the transaction being tied to something in your name? Or do you just open a PayPal business account?

Well the square POS isn't affliated with pay pal but no they didn't red flag anything when i did the faux cash advance. It looks like a regular transaction at any vender

 

[phcitywarrior]

I'm with BoA. Going in the next 2 weeks to get a secured card. Looking to deposit $500 as collateral. Hopefully with good habits I can get an unsecured one by the end of the year. Start 2018 with better financial habits

 

[GunRanger]

Got a cli on my boa cash rewards card. Went from 5k to 7500. Didn't want to request some ridiculous amount and lower my chances. This should lower my utilization on the card to under 10% and help my overall utilization. Only issue is I heard after that they do a hard pull. Which hopefully won't hurt me too bad. I already have a few of those from a car cosign back in September. Hopefully the lowered utilization rate can help offset the damage. If I keep my balances low and stay consistent with my payments, I should be ok. Just gotta stay under 10% on that card.

Multiple pulls for car/home loans count as only one pull because it's considered shopping for rates

 

[Bernie Madoff]

They said it's really hard to graduate to an unsecured. I don't wanna pay 24 percent interest on my own money for 2 years or so

your only supposed to spend 30% of the account and pay in full each month. If you pay in full it helps your credit and you don't pay interest.

 

[Roxx the King]

your only supposed to spend 30% of the account and pay in full each month. If you pay in full it helps your credit and you don't pay interest.

Definitely. I'm waiting on my capital one secured card now. It's only 200 so I'm just gonna use it for my music and tv streaming services until it's graduated