Why?
Discover gives me 1% cash back for all the purchases I make… I usually spend about 10-20 grand on it a yr, basically I charge everything I buy if possible, so I get a check for 200 bucks at the end of the yr. Not much but whatever, I dont care about interest rates because I always pay it off each month. Any other cards give better incentives???
MBNA Worldpoints.
Free concierge service (…just about the best service You can have with any CC company. Amex charge $350/yr for this svc.)
Worldpoints. 1pt/$1 spent. You get cash back for these points. Redeemable for cash as soon as 2500 pts. NO LIMIT no cash back (You can redeem 20k pts for $200 now, and again for 2500 pt for $12.50 next week if You like).
Free shit (generally worth $25-$90).
Worldpoints used towards ALOT of decent merch. at national retailers.
ZERO restriction travel bene’s.
7.9% FIXED. 1.9 / 2.9 fixed intro (12 mos)
Wether You pay the balance monthly, or pay minimums (:ohnoes: ), You still earn all of these bene’s.
You (Poopra) Are prolly the exact customer that these companies fight over. Call them up and speak with their retention unit, make them give You a better deal -or- go to a place that will.
$0.02
Disclaimer: No, I do not work for them.
I think Citibank has the best cards out there. I have cash back rewards and all of that BS on it, between 3 and 5% back on everything… I am broke as hell, pay my bills on time every month and get the 50 dollar cash back thing on average every 2 months… with a small income to put it in perspective. If I had to give you my two cents, I’d say go for Citibank.
Edit: And I have 6 cards total and have used them all for a while, but when it comes down to it I use the Citbank much more.
Well, im gonna try citi, if i get denied (which i probably will lol) im gonna do the prepay thing then…
I dont think I would ever use a concierge service, have you ever used it??
What free shit have you got from them?
The worldpoints seem to be just like cash back = 1% of purchases. I can cash in mine each mth with discover if I want.
Really all that would draw me to use some other card would be better % percentage of cash back or a better perecentage going to something I
already buy, I dont have a GM card because I dont plan on buying one.
Yep, I’ve used it three times.
They found a part for me that I couldn’t find; got me the tix for two shows that the fiance & I saw in Vegas in Aug. (3rd & 5th row seats ftw); and got me a deal on the suite for vegas.
I just got a Visa card thru Bank Of America. Its my first card.
I tried a few others but got denied for not having credit. Kinda stupid since all I want the card for is building credit.
When I was 19 last year,capital one sent me an offer for a card with a $200 limit.Since then they’ve raised the card’s limit to $600 and dropped the interest to 9% which isnt too bad.About 6 months ago I got an offer in the mail through bank of america,I called and was approved for a $5,000 line of credit…yes 5 grand.
Cliffnotes…got a starter card with $200 limit,6 months later got a sweet offer.Whenever I buy something big I use it,then I pay it off instantly online (online payments).
Last week I was approved for a newegg.com preferred card,I hear on the computer forums I visit that its really easy to get approved for.Might want to try that.
speaking of credit cards. i got a bill from hsbc saying i owe them 100 dollars for annual fee on my hsbc gold mastercard.(i think to myself well thats new as i dont have a hsbc card.) so i call them and obviously outsourcing owns and a hindu individual named ashley(someone pick the wrong name out of the hat lol). it turns out when i got my bestbuy card i automatically was enrolled in this. i guess i should read before i sign next time. so after 4 transfers they finally got me someone who could cancel the card. so i guess also watch out for annual fees and what you sign because it will bite u in the ass.
what is this service? do u just call them and say hey can you do this for me?
That works, and you can usually get your first card through your bank. You do have a bank account, don’t you?
Capital One
I had my name under my mom’s credit card when I was 17, then got my own about a year and a half later. 5 grand limit but I only use it like once every few months.
Yes. They have a team of people that will find, reserve, and then charge to Your card (if You accept) whatever product or service.
Weirdest thing ever done? The concierge team searched for and then rented an elephant for an 18th birthday party for a Hindu girl - elephants are lucky/religious/something. 100% serious.
Top banner, 4th from the left.
https://wwwa.managerewardsonline.com/RMSapp/Ctl/entry?pid=iwprwd
I was in your very same situation about 10 months ago except i was a year older then you. I went the secured credit card route. I joined the local credit union and put $1000 towards the secured card. This gave me a $1000 line of credit with a pretty shitty interest rate, but no where near as bad as some of the other “starter” cards i have seen ( I think its in the 12% range) I make most of my purchases with the card and pay it off in full every month so the rate doesn’t matter. After 8 months of doing this my limit was raised to $2000. I assume this makes this card no longer secured. I have yet to apply for another card, but i imagine i will not be denied as i was in the past for cards do to lack of credit history. I would deffinalty recommend going this route.
You have very little credibility with lenders if you don’t have at least a checking account and preferably a savings account as well.
Ok boys…here is how to establish good credit
1 - he best way to establish a credit history is to apply for a small loan or line of credit from your local bank or a credit card from a local department store. Ask whether they report to a credit bureau. If they don’t, having the card or loan won’t help you establish credit.
2 - To get a credit card without a cosigner-signer, you must be at least 18 years old and have a source of steady income. Gas cards are relatively easy to get. Apply for one and use it to establish credit, but pay it off every month to show that you can pay your bills responsibly.
3 - If you can’t get a small loan or gas or department credit card on your own, try to find someone to co-sign for you. Again, make payments regularly and on time.
4 - Increase your chances of getting the loan you’re applying for by coming up with a large down payment. If you don’t have the cash, consider borrowing from a family member.
5- If you don’t have a checking account, open one. You have very little credibility with lenders if you don’t have at least a checking account and preferably a savings account as well. Just as importantly, be sure not to overdraw your bank account. Bouncing checks sends a signal to potential lenders that you can’t manage your daily finances and are therefore not a good credit risk.
6 - Know what lenders and credit card issuers look for when issuing credit. There are other factors that affect credit approval besides just your payment history, such as how often you move and how often you change jobs. It also helps if you’ve had an apartment or utility in your own name. If you don’t have a telephone number in your own name, you may find it more difficult to get credit.
7 - If worse comes to worst, you may find it necessary to get a secured credit card. These cards require you to deposit money in an account to secure the loan or credit limit, and they often have fees and higher interest rates. If you default on your payments, the lender takes the money from your account. After a few months of making payments on time on the secured credit card, you may be able to obtain a regular credit card. Remember to make sure the company reports to a credit bureau before applying for a secured card, or the card won’t help you establish a credit history.
Before you apply for a credit card or car loan, get your ducks all lined up. Think like a lender. Applying to a number of credit cards in a short period of time can decrease your chances of getting approved. Lenders see this activity on your credit report and steer clear because they think you’re getting in over your head, so pick and choose carefully and have a plan of action.
Being rejected for credit can also look bad. Apply only to cards whose requirements you are likely to meet. Read the small print and call the company to make sure your income and other factors qualify you for the card. Just because you get an offer in the mail doesn’t mean you qualify.
With careful planning and a little knowledge of how lenders issue credit, you CAN establish a credit history fairly painlessly. There are many businesses waiting in line to take advantage of you by charging exorbitant fees or interest rates, so be careful out there.
end of thread
eeeh, sort of.
We (and alot of other institutions) sell “student packages”. Checking, Savings, overdraft loc, and Credit Card. While NO ONE is guaranteed credit approval, most of us have more lenient standards for students (see my earlier post).
But as far as a relationship, I think credibility is the wrong term. We only consider customers that purchase a range of services in the aspect of giving them discounted rates & services.
We will not be any more likely to approve a credit decision just because You have a couple grand on deposit.
now, if we’re talking commercial business (which were not), then it’s looked at differently, for a credit card. But we still wont extend a 700k loan just because of 200k on deposit, for example.
I agree, for the most part again 
You need to specify that there is a huge difference between a soft/hard/full credit inquiry.
Soft inquiries are from places that are looking to “pre-approve” You (like offers in the mail). These do not count heavily at all.
Hard inquiries are from places that make credit reviews a cursory function (like insurance compaies or landlords). This have more weight, but still not enough to impact Your score (more then a fractional digit).
Full inquiries are what negatively affect Your score. These are instituions that have YOUR authorization to pull a full report and history (like You applying for a loan). If You are clamoring for credit (applying for 5x your income @ 14 places) then this drags down Your score. We generally recommend to not apply for more then 4 credit applications in a short time.
-also-
The one thing that You didn’t mention: The second largest factor on Your FICO score: Open credit. You have no reason to earn 30k/year and have 400k in available credit. While it may make You feel good, it negatively impacts Your score. Underwriters worry that if (for whatever reason) You suddenly had to try to payoff 400k in debt with Your 30k income… bad things will happen.
but, hey, what do I know :shrug:
indeed
Wow excellent post juan, I really appreciate it. I have overdrafted my acct probably 3 times in 6 months, I hope thats not whats causing the problem 