I'm 21 and this is my score what credit Jew should I get for emergencies or is a credit card a meme

I'm 21 and this is my score what credit Jew should I get for emergencies or is a credit card a meme

credit history is a meme

but credit cards are good because you have a line of unsecured credit at your disposal and mitigate sales tax using cash back

Alright nigger, a few questions.
1. What happens when you don't pay your credit card off? If it's unsecured, what do you lose?

2. What the hell is cash back and how does it mitigate sales tax?

3. Can questions like these be answered thought the books provided in the sticky?

Do you even know what a meme is, retard?

Just fuck, really.

Don't reply to me or my wife's thread ever again

>Alright nigger, a few questions.

Well good night to you too.


>1. What happens when you don't pay your credit card off? If it's unsecured, what do you lose?

Yeah don't do that, always pay off your credit card. Unsecured means it's not tied to another account that would be debited if you go over your limit. Usually people with fucked credit have to get secured ones.

>2. What the hell is cash back and how does it mitigate sales tax?

2% cash back means that if you have a 100 dollar balance and you pay it off, you get 2 dollars. Essentially it makes things 98% of the price everybody else pays.

>3. Can questions like these be answered thought the books provided in the sticky?

Idk never read the sticky.

This, this shit right here

Fuck me, went to the bank with cs of 750+. Only gave me 1k limit.


Try a Credit Union m9, at least they gave me double + financed my car. But now my cs dropped under 700, I guess it goes back up as I make payments?

Open up chase credit card ask for 4k limit

Question so say I do get this and make a 4K purchase do I have to pay that 4K and the end of the month or is it small payments?

Depends on why it dropped. If there were hard inquiries, it takes 2 years to remove them from your history.

There's going to be a minimum payment every month. For $4K debt, it's probably around $100-200. But if you pay $100, you only have $100 of credit for the next month.

I know what a meme is. It's a meme.

MEMES ARE A MEME.

No interest for 1 year, I got a new chase slate. Just make 100 dollar payments. Leaving a $2800 balance when the introduction expires.

>not having at least an average score of 740 by age 19
you will never make it OP

Hard inquiries only have a slight, less than 10 point, drop. Which do slowly regenerate.

My guess the reason your score dropped is it seems like you opened 3 accounts probably too close together which can take a toll.

But assuming your good at managing yourself, your shit will be balling in no time.

First time checking it

The Blue Cash may be a bit of an overreach. These are FAKO scores, not FICO, but 720 is average credit and 672 is below average.

Do you have any existing credit cards?

Your best bet would be a student credit card from the bank where you have a checking account. They're more likely to approve you since they can keep an eye on how much money you have.

The Credit Score is something that you should be paying attention to.

Ultimately your goal is to qualify for SBA Loans which are $25 Million to any breather who can write a passable business plan to acquire an existing business.

Go on

>credit card for "emergencies"

not a good sign

>tfw at based tier with zero effort

feels good man

Explain

Getting a credit card for "emergencies" is fucking stupid. Get a credit card for everyday use. Better yet, get multiple cards to maximize cash back. Find a decent cashback card to establish credit history, then apply for more cashback cards as your credit improves and they become available.

There is literally no rational reason to not use a credit card for every purchase that doesn't involve a "convenience fee" for using credit. 2-5% (10% on my Discover It) cash back on every purchase, actual fraud protection, and they build credit.

Source: I'm 22 and about to graduate from college, have 7 credit cards all with no annual fee, and a 740-750 credit score. I have better credit than most adults and I've only ever had a job one summer in 2013. I'm a frugal person, annual expenses

Oh, and a total credit limit of a little over $21,000. I expect that unlike the vast majority of people in my age group, if I ever make the mistake of financing a car I'll get that silly cheap sub-1% financing, and getting my first mortgage will be a cakewalk.

What card

this

I use my card for every single purchase possible in order to get cash back. Just pay your balance off on time.

My first card was the Capital One Journey (1.25% cash back) that I got in September of 2014. I had absolutely no credit history and they gave me a $300 limit to start, with the promise of a credit limit increase after 5 months of on-time payments. February of 2015, they increased my credit limit to $3,300.

Over the next few months (mostly summer of 2015 if I remember right) I applied for and received a Chase Freedom (rotating 5% categories), Discover It (rotating 5%), Amex Blue Cash Everyday (3% on groceries), Citi Doublecash (flat 2%), Barclaycard Ringmaster (fucking worthless, no cash back, but no annual fee so I'll keep it), and BofA cash rewards (3% on gas).

It's always a good idea to check whatever offers you're prequalified for; it doesn't mean you're guaranteed to get the card but it's better than applying blindly. Just google, for example, "chase prequalified credit card". Doctor of Credit and NerdWallet are good places to get an idea of how to credit.

Other than that, like literally everything else in life, you should google any questions you think of and read a lot. My brother is a loan and credit officer for a credit union and we're both at about the same level of knowledge.

Oh, and google "how is your fico score calculated" first because credit scores are the whole central idea here. You need to understand the basics before you can build the rest of the castle.

Okay, a few spoon-fed bits of advice: every single credit card/company will give you the option of automatic monthly payments. Do this, set every card to pay every balance in full, every month. If you carry a balance *once*, you will almost certainly pay more in interest than all the cashback you've earned.

Treat credit cards like you'd treat cash or a debit card; you're still only buying the stuff you can afford and buy anyway, just now you're getting cash back, enjoying better protection, and increasing your credit score.

I'd highly suggest using Mint.com to keep track of your spending or, at the very least, your bank accounts and credit card balances. It makes life *so* much simpler. With Mint you can log into one account and see how much money you have in your checking and savings accounts, how much money you've put on your credit cards, and whether you're in the black (or not) very quickly. You can also see every single transaction from all of your accounts, which makes it very easy to identify when someone's stolen your credit card.

Again, the best way to go about this stuff (and 99% of anything in life) is to keep googling and keep reading.

You don't have to pay it off right away, but unless it's interest free like , you want to pay it off right away.

If you pay it off at the end of the month, you're good. If you carry a balance past the due date, you'll have to pay interest on it, unless you have an interest-free period.

Paying credit card interest is a meme. Only spend the money that you have and pay it off at the end of the month. Get that cash back and other free shit from the chumps who pay interest, don't be one of those chumps.

Its more based on your income. In college I had a ~680 credit score, but made 0 income, and my credit cards were $500 limits. After college my credit score was ~720 and the next card I got was 20k limit. I doubt the score had anything to do with it. More so they see you actually have money.

I have to ask, how were you paying all this shit off without a job?

Not him, but just because you have big limits and a lot of credit cards doesn't mean you use it at all. That's kind of the entire point. Lower utilization of your limit is better.

>so far I've gotten probably $1,000 to $1,500 back from using credit cards
He's obviously been spending money. Not a huge amount, but he's obviously getting money from somewhere. Sounds to me like he's been living off his parents' money and gloating about how easy it is to pay off credit cards when your parents pay it for you.

...

10% cash back? Damn, I thought they only went up to about %6 for people 800+ credit scores.

Discover It Cashback Plus is a goofy system.
5% cashback on rotating categories, and you get additional 5% back when you pay it on time. So the additional 5% rolls over and applies to your next bill, and the rotating categories can be a bitch. I think it's to incentive you spending money you wouldn't otherwise spend.

>Oh shit, I get cash back at movie theatres from Jan-March, better go watch some movies I would otherwise save the money and not watch.

Maybe I didn't mention it, I'm still in college and my parents are paying my living expenses. Someone is going to get butthurt about that and I have no trouble agreeing that it's just straight dumb luck. The same could be said for trust fund kids; I sure as shit am jealous of them, I wish I never had to work at all too.

This.

Oh boy, here we go. I guess you're the one who got butthurt. If you re-read my post, you'll see I made a huge point of "don't buy things you can't afford". It's easy to "pay off credit cards" when you don't rack up debt to begin with. The amount I quoted includes signup bonuses, by the way. Those make up probably 3/4 of all the cash back I've gotten.

The 10% back is from Discover's promotional double cash back for the first year. Normally the Discover It just has 5% rotating categories and 1% on other purchases. I haven't heard anything about a bonus for paying on time.

>automatic monthly payments

Hadn't thought of that for some reason. I set it up now on my Discover, but it seems my Paypal Mastercard doesn't do it unfortunately.

Oh jesus, yeah automatic payments make credit cards very nearly maintenance-free. Other than checking my account balances on Mint a few times a month, I literally don't deal with the stuff at all.

I'll have to call about the paypal one to see if auto payments could be available. It would take a step away from transferring all these balances.

>mfw 24 and 760 credit score but got denied for a discover card
ayy lmao

What other credit cards do you have?

just a chase freedom card

>tfw no credit card, never missed rent payments or shit like that
>only 700 credit score
>I made $100k 2 years out of college
yea, I don't care for your debt note cards, but the whole system can go fuck itself.