What credit cards do you use and why, Veeky Forums?
>Alaska Air Visa Card for the annual companion fare so my SO and I can visit my parents in Seattle for the holidays >Citi Double Cash Back for miscellaneous purchases >JetBlue for 2X on groceries and restaurants >Crappy BoA travel card I only keep open because no annual fee and lengthens my credit history
so, if you pay your bills using these cards, and then immediately pay the balance off, you earn free shit?
First card is a navy fed cash rewards card, 1.5% back on everything. Decent. Just got a 2nd card, Visa Signature GoRewards, 3% back on food, 2 on gas, 1 on other.
Only had my first card for about 8 months, 2nd card was approved for 10k limit. Not sure if that's average or good.
Yep. The only reason finance bloggers talk about how "risky" they are is because people are retarded with their spending, don't pay their bills, and get hit with high APRs. But pay your bill in full, and they're literally zero-interest loans that come with free money.
im getting a secured card from usaa because no credit history i want to be you basically should i put down 2k deposit on the card so i get around 30% utillization by spending around 400-600 each month?
Or you could just get a real card... Even with shit credit I bet they give you a 1k-2k limit.
$10,000 credit limit is pretty standard for someone with a very good to excellent credit score and at least a few years credit history. My most recent approval (4th card) was $18,000 (totaling $48,000) which is my highest so far. Bonus of multiple cards/expanded credit line is it improves your debt-to-credit ratio, boosting your score.
The only downsides are a) if you're a pathetic tryhard who's desperate to look and act richer than you actually are and don't have the self-control to stop spending money on shit your can't afford, b) if you churn-n-burn cards by signing up exclusively for travel/cash back bonuses and closing quickly after (hits your credit score), c) if you're a moron who can't track more than one credit account.
tried everything and got denied im a 22 year old immigrant with no credit history of any kind, no house ownership and no rent history (military) whats a good overall card to keep applying for once i break in my secured?
Good to know I'm on the right track then, I only use my credit as a method of payment.
Only opened a 2nd one after looking up my score. Basically my score is good, but short credit history (less than 1 year) and having only one open account were the only negative aspects.
If you genuinely have zero credit history, I've heard secured cards are a decent way to build credit. But given the shitty deposit, I know it's not ideal. I know there are student cards with modest cash back opportunities and I can't imagine they expect students to have much credit history (could be wrong on this though).
Given your short history I wouldn't recommend opening a multiple cards in a short period of time, but it sounds like you're doing all the right things.
Depends on what you want. There are a bunch of cards that offer "rotating categories" (groceries, gas, restaurants, Amazon.com, and such) of 5% cash back, but you have to opt into categories and there's no guarantee it's something you'll utilize (I live in NY and don't have a car, so 5% cash back on gas is worthless to me). I much prefer Citi Double Cash Back (1% back at check out, 1% back when you pay) for straight cash back.
If you like to travel like I do, then a travel card is great. I like JetBlue because they're hubbed out of where I live, charge no annual fee, no foreign transaction fees, and double your points at grocery stores and restaurants. I know a bunch of people rave over Chase Sapphire Reserve which can be used toward any travel expenses, but it does have an annual fee. So I'm personally holding off on that one.
just applied for Discover it® for Students and ̶l̶i̶e̶d̶ alternatively reported on a bunch of shit like personal worth and income and for the first time didnt get automatically turned away, but also theyre gonna look over my application
That could be positive. I always get "pending" and I have near-perfect credit.
I'd usually recommend calling the reconsideration line tomorrow to help expedite the process, but that's really only helpful if you have honest and helpful information to provide. If you lied, you're probably best off waiting. Good luck!
my line up
>chase slate >chaser sapphire preffered >sams club >amex blue cash back
I don't fly or eat out often and have long quit chasing rewards. I put all of my spending and recurring bills on a Citibank 2% cash-back. ~$800/month in spending gets back $200/yr. So simple and much easier than chasing rewards/bonuses (which I really think entices you to spend more money than you really intend).
Depends. I'm able to put rent on my credit card, so getting to even high threshold bonuses (like $4-$5,000 in first 3 months for 50-100k points) doesn't demand me to go on a shopping spree.
i have been trying to explain this to my mother. cc rewards cover my total banking and insurance costs. she still don't get it.
Credit cards in canada suck huge dick.
The vast majority offer only 1 to 1.5% cashback.
There are a few that offer slightly better rewards but they require a yearly fee.
here too, but i still found a 3% cashback on groceries and a 20% cashback on seasonal they are bot capped tho.
vast majority of cards are shit. they only offer 1-2% and not in cashback but in points and coupons and shit.
I will get a few cold calls a year about having me switch to some other BS card of theirs.
"but sir it has a higher cashback rate" "is there a yearly fee ? I'm not interested" They jews know how to hook you. You need to spend thousands of dollars just to break even after their typical ~99/year fee. And then thousands more just to get ahead of the person that has a lower cashback rate but no fee.
I honestly don't bother with that shit since the rewards are so slim, I save a lot more money by simply not buying shit I don't need in the first place.
well cards here have all yearly fee if they offer cashback above 1%. no exceptions. average is about $30. now they are also capped in rewards at an average of $150 so what you can max out it $120 a year. you have to spend $4k to max that out. if you spend that much normally then you are in for $120.
if someone spend more to get the rewards he is a rare dumb fuck. but still yearly fee cards can still be worth it.
Just buy a bunch of Amazon cards
why would i ever do that?
>Having credit card at all >Not just debit card What a wonderful mindset.
You get rewards without really losing money by buying something you don't need, that is if you tend to use Amazon at all A chinko on YouTube saved 100% of his income one year by living off credit card rewards and doing things like this
>Can't dispute transactions as well as credit >Carrying a hard line to your bank account everywhere you go >can only spend as much as you have Vs >People that have credit cards also have a debit card so there goes your superiority >They get rewards for borrowing money they were gonna spend anyway >While they're getting paid to spend money they build their credit score which allows for better rewards and credit limit >They have x10 your purchasing power without spending any more than you do
Sorry but people who are afraid of credit cards are left in the dust in 2017 Enjoy not being able to rent a car ever or get an apartment
>You get rewards without really losing money by buying something you don't need, that is if you tend to use Amazon at all yeah well i don't buy from amazon because it's insanely expensive and i couldn't sell the cards in their nominal value so this would be a losing game.
i cherish the fact that so many people are afraid of cc. because they vendor pays 3-6% to the banks and card company for any cc transaction. that means if 80% of the people pay with cc everything would be more expensive by 3.6%.
so long people use cash and debit this increase is around 1% and i still turn 2% profit on the cc use.
Couple of department store cards cause i was dumb kid.
Visa, mastercard, citi, discover.
Credit building and low interest.
Discover was free credit check before i found credit karma.
Almost 800 credtis score.
When i get to 850 or so gonna get a home loan, sell my 2 shitty houses, get loan or cash for 1 nicer rental, and cancel andy cards i dont use.
Credit suicide for 3 years. 0 fucks given.
Have better cards and spotless 850 credit when ready to refi both houses for 3rd descent rental.
Rinse and repeat.
U get turned down for secured cards?
I had 4 credit cards 2 years ago and shit credit. Had to get secured cards.
780 fico now
Having 450 credit score and loans at 30%.
Get 6 cards.
Having 850 credit score and debt consolidation loan at 8%.
Welcome to america. Where if u are stupid you can make up for it by getting another loan at a lower interest rate.
i detest travel so just citi double cash they won't raise my limit from 4.5k because im a bad goy with no loans
It's "free money" insofar as the Bank is providing financial incentive to use their cards by offering a portion of their own income they make off purchases. For every retailer that accepts the credit cards network (visa, etc) they pay a small premium on that to the credit card to use the service.
which in turn will be charged to the consumers including you. and the circle closes the only one making a net profit is the card company.
How often were you offered line limit increases? Every year? Citis double cash is pretty swell, free monthly fico swords and virtual card numbers to purchase thinks from chinkland along with insurance against theft.
Of course the company is making a net profit, since they are offering a service. Without it, we would have to pay everything in cash and coins are literal satan to deal with.
mbna Smart Cash Platinum Plus
debit cards are for cash withdrawals you clot
they are more vulnerable to crime/your own stupidity because the banks dont cover them with the same protections as a credit line
How long do missed payments last on your credit report? I've had some mishaps two years ago due to family and I've been keeping it steady for almost a year, but it seems the old late payments are still impacting my score.
Two years is standard.
It has a 300$ travel credit. If you got it last year it pays for itself in two years.
supposedly six months they didn't offer me after 6 so i requested it myself and got told to fuck off
I have a 690 TransUnion score and got approved for Chase Freedom Unlimited immediately. 15% interest. It's my first credit card so I'm pumped to make it rain in the club and worry about everything later.
i liked TD better because i hate jews but my mom made me get chase. ultimately blue wallets/cards make you spend more money, whereas green gives you a save money feel.
Zero credit card debt and I instantly pay off my credit cards when I buy shit so I feel the sting immediately. All my credit cards are free because fuck paying annual fee for a card.
I am a Canuck so this is what I use:
>Crappytire Options I get 4% back at their store, Marks Work Warehouse, and Sports Chek plus $0.04 back from their gasoline, and I can pay my bills off with it. They also have exclusive credit bonuses every week where if you buy their select shit you can get 8%+ back.
>PC Financial World Elite >PC Financial gives zero fucks about you lying about your income to get this card. 3% back at Loblaws stores, and Shoppers Drug Mart. Plus you get $0.02-$0.03 off gas at Esso and at Superstore Gas stations you get $0.07-$0.10 off gas. They also send you a bunch of exclusive credit card deals all the time; for example I got a Joe Fresh offer where if I spend $70 at their online store I get free shipping, some percentage off their clothes, and a $20 gift card.
>Rogers Credit Card I get 1.75% back flat so I use it where I do not use my other credit cards and there is zero money exchange fees. You can redeem your money once a year as a statement credit which is nice.
>Crapital One Costco 3% back at restaurants and 2% back at gas stations. Plus I use it as my Costco membership. Every year you get your money as a cheque that you can use at Costco or redeem it for cash.
Capitol one secured credit card, im poor and have bad credit