You need a credit card to build credit!

You don't need to spend a lot on your credit card to increase your credit. All you need to do is make one small purchase a month and pay it off to record the payment. If you pay it off immediately you don't even need to pay interest.

Your credit does not go down if you have "too few" or "too many accounts". Who the fuck told you that.

>Who the fuck told you that.
FICO.

>Have a current account to get salary paid into
>Apply for their worthless Good Goy card even though my debit card works fine
>Get it without question because it's useless trash
>Use it to pay for fuel for my shitty car, use it to pay for my cheap groceries, expenses I know I can cover immediately anyway
>Always pay it off on time
>Build up decent credit score
>Apply for an AMEX card
>Now qualify
>Budget for fees
>Start using the card for literally all my regular monthly expenditures
>Put my liquid money into ETH over March, April, May, June
>Value goes up each month
>Sell it out at billing time, pay the debts, keep the profit
>Do this again every month
>Credit score goes up, I have liquid wealth to grow in investments, I get expensive free shit I wouldn't normally pay for, and a fancy card to show off with that I know I'm getting value from

Poor people are brainlets

your score goes down temporarily if you open too many accounts at once

your score is not based much (less than 5%) on the number of accounts

I have 2 credit cards (no missed payments) and a perfect loan history for car (payed off) and student loan (paid off). I had one account closed for inactivity and both credit cards that are active only have 9 years of history, would have been more like 20 years but it gets cut in half each time you open an account, but even that is such a minor blip on your credit score.

All that really matters is no missed payments and that you actually use your accounts.

Ideally, you pick accounts that grant you at least 1.5% cash back, and use them only for paying things you are forced to pay, like bills, then immediately pay your credit cards off the same month. Why turn down a slight benefit when it's free?

credit score is 802

Free money. I've been balance transferring shit for years. Got about $10k in CC debt. I just pay the minimums then when the 0% APR period is about to end, I transfer that shit to a new card. Free money.

Is 747 a good credit score?

It's a meme just like everything else under capitalism.

surely that catches up to you in the end somehow right?

anything over 700 has a very limited use as far as credit approval goes

anything over 750 is overkill

anything above 800 has no effect except to brag

I've yet to find out!

I mean I'm all for taking risks and everything but you'll be pretty fucked, I'm pretty sure (((they))) have made 100% certain that there is no loophole like the one you're doing

the only two negatives to doing this is if you miss a payment for some reason, or, in the long term companies can actually refuse to sell you a card, if they think it is odd if you have dozens and dozens of inactive cards on file but are not using them.

I'm 22 and I have 720 credit. I just bought a car then a line of credit and a credit card. Just pay the shit off. Goes up. Damn

>inactive cards

Everything gets used. I have an organizer and they're labeled for certain days. So I grab those cards for those days. Other cards are setup to do one autopay a month.

I have 23 active cards as of today, with the newest being an Amazon Store Card because I got a $40 gift certificate applied to my order if I applied for it plus 0% interest for 6 months.

And I do have the money to pay off the cards if I liquidate assets, but why bother?

Hahahahahhhahah what. Maintain a balance??? Do you literally work for chase or something. This is absolutely retarded advice. You are telling him to pay interest for absolutely no reason.

PAY OFF YOUR BALANCE IN FULL AT THE END OF EACH MONTH.

FICO never says your score goes
>Down
with too few accounts. Your credit has to start somewhere, and no, its not at 850.

850 credit here

just use your credit card as a debit card. I use it for everything and I pay it off every two or three days.

What can make you credit score go up is to have many cards with high limits but no balances on each of them.

Unless you are in a very precarious situation, you really have to be retarded to keep a balance on a credit card.

>not taking advantage of 0% APR

Why is always credit cards with americans? Ever heard of debit cards?

1. no rewards points with debit
2. no 0% apr with debit
3. debit just screams poorfag but bitches get wet when they see my AMEX

The credit bureaus aren't rating you for your benefit, they're rating you for the bank's benefit based on how much profit you're likely to generate weighed against your risk of default.

get on the next level and start transfer CC debt 0% interest for 12 months and then transfer it again even though you have the liquid cash to pay it off

Literally flushing free money down the toilet

>1
I wouldn't feel grateful for ((them)) making me spend 100 just so I can get 0.01 back.
>2
I don't even know what that is. Nor do I care, for if ((they)) conceived it, it's just a convoluted mean to extract value out of other people.
>3
Pay a yearly fee goy, it makes you look rich and important. With this, the conditioning is complete.

is it worth the time? how much are you making by managing all that?

>not buying crypto with credit card
It's like you hate money

>be me
>have a business
>pay for products using credit card
>use the money from selling products to completely pay back credit card
>sometimes do this twice a month

And now offers from credit cards are flooding my mailbox, basically just from looping the same money through the card again and again.

"Free money"

That's why people are drowning in credit debt right? "But oh no I'm not that dumb user lol!" I will reply with an "okay, enjoy you 50 extra dollars a month while risking compound intrest that's literally exponential and therefore a means of enslavement."

You ARE risking your life here.

Why not do that with pure money you usury shill?

>I wouldn't feel grateful for ((them)) making me spend 100 just so I can get 0.01 back.
as opposed to literally $0 for using a debit card?
>Pay a yearly fee goy, it makes you look rich and important. With this, the conditioning is complete.
most cards don't have a fee and the ones that do are for people who get more benefit with the cash back > fee and can usually get it waived

the only people drowning in credit debt are literal retards, who are responsible for benefiting both the credit card companies AND the people who use them responsibly

I don't know why I even bother responding to people like you 2, you are both actually retarded stormweenie tryhards. (((DA JOOS)))

get the fuck off Veeky Forums retarded fags

What do you sell?

Why would I?

>get cash back rewards, so everything I buy with the card is slightly cheaper
>builds credit history
>soon I'll be able to take out huge loans and leverage out on real estate

Tools, light bulbs, vacuum filters, just random shit desu.

>debit just screams poorfag but bitches get wet when they see my AMEX
Literally show them your balance and they'll get dryer than the Sahara. The truth will come out any you'll be that balding old man that has a hot wife but she goes around trying to fuck for some more cards. While doing so your AMEX rate is 12.99 and going down by .5 percent a year! Not so, your gold digging wife spent 20k over the past three months on shoes and "lavish makeup jus 4 u boo " and maxed it out! Oh noooooo! The 20% intrests rate takes effect immidiately. Unless you make 20k a month, you're not going to pay this off for a long time. Even if you do, your golddigging wife's greed increases by your salary and so does your credit limit.

If you want to qualify for buying a car or house then you need good credit. Finance, Accounting, or government job, you need good credit.

Explain how it's free money when you have to pay it back.

Even if your credit score is high what will you do with it? Take out another loan right? It should be so simple, my God.

How about you pay it in liquid and pure cash instead of being degenerate? I know that some don't have parents to help but room shares are 500/m. Don't be a degenerate.

he's talking about the cash rewards. guess what, you don't have to pay them back! surely this must be some kind of jewish sorcery!

>Finance, Accounting, or government job, you need good credit.
As opposed to bad credit. Shill.

Been trying to find some sideline to take advantage of the 4% cashback... found nothing worth the hassle

not him but i'm sure he's making at least several hundred if not a thousand dollars per year with 23 active cards

you could just set up 1 or 2 days a year in which you use the "inactive" cards to credit an amazon account for a few bucks each

not sure what planet you live on but most people here on Earth don't have 300k in cash sitting around to buy a house straight up

I'd say maybe go to Goodwill and thrift stores in your area and buy ink cartridges.

Scan barcode with an app on your phone, see if it's selling quickly and calculate fees, you can usually double your money pretty easily. Amazon FBA will ship the products for you when they sell.

yeah this is wrong. Pay it off every month.

I've got a credit score of 780 without using a credit card. It's pretty easy, user-kun. Just get a small loan and make payments every month. You don't even need to spend the money on anything if you don't want too. My loan is for my car btw.

What's your interest rate on that loan?

5%

What a fucking retard. The interest rate on a credit card is 0% as long as you set up autopay.

I currently have no use for a credit card. I do have use for a car (which means I need a car loan).

So you literally never ever ever buy anything from any store at all?

Debit card bby.

There is absolutley no reason to use credit. Ignore the conditioned poorfags. Credit is a trap for the middle class. It's what makes them look and think they're wealthy, but in reality they just piss away their real money to borrow shit that they can't afford. It should be called a borrowing score, not a "credit score". Real wealth lies in assets, not liabilities.

Sure, pajeet.

pay off that CC debt. Be the change you want to believe in.

Then they don't deserve a fucking house.

most people in my country just use debit cards

>I'm throwing away free money, free extended warranties, fraud protection, return protection, and price protection because I'm too stupid to be trusted to not spend money I don't have.

How do you think the rich got rich my friend?

Lots of credit.

Ok user, what is the best card with the best perks. Ill get one literally right now if its convincing enough.

Lets say you get a mortgage with a 4.10% interest rate. Instead of just paying for a house in one lump sum payment, you can invest that money and receive more than a 4.10% return on my money.

Jesus, you people are stupid.

But they really want one
Who cares about 'deserve'

>tfw aeroplan visa card

We don't even have credit cards in my country, only debit, yet the banks are far more corrupt than in the USA.