General Credit Thread

To start, I am actually interested to see if anyone can give advice. I'm 23 and make around 85k a year USD. I only have a couple years of credit history, with an open auto loan, and two credit cards, one with a 1k limit and the other a 2k limit. I keep both paid off and really only use the cards to get cash back. My FICO is 789, Equifax 722 and TransUnion 735. That being said, I want to buy an OLED TV and would like to get as much cash back as possible (as I can just pay it off with cash anyway) so I was interested in getting the Best Buy cc and using the 10% back sign on incentive to get a few hundred bucks back on my purchase.

The biggest reservations I have are getting approved (as the 1k limit card I just got on January 1st.) and also having a high enough limit to accomplish what I want to accomplish in the first place. Does anyone know what my chances of approval are, and doors anyone think this is a good or bad idea?

What do you do for work? I'm 23 as well

Just get a real credit card with cashback forever (Citi Double Cash gives 2% on everything) instead of a faggoty retailer card

You sound like a fag

T. 23 yo

The bestbuy card sucks and does nothing for your credit. You'll get approved with that kind of salary and credit score for anything. You're obviously doing something wrong.

Go to thepointsguy and see what he's shilling. You should get a chase or amex card that gives you massive points, hello free travel!

Yes you will get approved. The way credit works is you get credit if you use credit. Holding your cards with no balance will not help your credit. It’s best to make some small purchases like gas or groceries and pay it off every month. You don’t even need to pay it off in full if you have a larger balance. There’s no reason not to pay the card off if you want to though. Every time you make a monthly credit card payment it will report to your score and help it go up.

>820 creditfag reporting

Best buy card has been ranked worst card of the year multiple times

>general credit thread
>huge mound of cash dot jpeg
interdasting approach OP

>I'm 23
awww

With 85k income and 740+ credit score you should have zero problems getting a $20k+ limit on a credit card...

The real question is, why do you need to use even 1/10th of that limit? Never buy something you don't have the cash for. And rarely are those "open a credit card and save X" worth it. Just buy the TV in cash or better yet don't spend fucking $1000 on a TV. Isn't a 60'' TV like $500 these days? Wtf TV do you need?

Can confirm, it's a smoking pile of shit unless they're offering zero percent for 24 months or something like that.

This. How the fuck are your limits so shit? I'm unempolyed and have a 50k limit between my cards and could easily get another 50k.

Anyway what you'll want to do is apply for the chase card of your choice, probably the sapphire reserve or chase business ink (you don't actually have to own a buiness). Either one of those will give you about $1000 just for hitting your minium spend, which will be betwenn 3-5k. Put everything on your card in pay it off every month. Then enjoy your free money you dumb faggot. Why would you even consider a best buy card? Are you even trying?

His limits are low because he has a limited credit history.

You need to request for credit line increases. My credit cards always had limits >5k at your age.

yup

The Best Buy card is a solid idea. The 10% cash back seems overly generous, but they're hoping that you'll be like the millions of idiot Americans that will let interest accrue on the card. Don't be that idiot.

I never cease to be astounded by people earning good money on biz who are plainly interested in alternative currency's and who yet cannot or will not get themselves out of the slave debt mentality. This system is by design organised to make no force you into bondage if you require even basic subsidence. Knowing this why would you cuck for credit scores when you should be doing everything possible to escape their evil clutches. Dont borrow anything from these vampires and fuck their credit scores.

Credit cards build up your credit score. A higher credit score means better rates + higher borrowing limits.

Unless you're always planning to buy your house/car/major purchase outright, ignoring your credit is a dumb idea.

Also, you can easily use credit cards and pay them off immediately. Every single online bank has configurable automated payments to pay off the full balance if you want to.

user assume I am well aware of this. Nevertheless playing their shitty game is not what its about fuck their credit system, credit score and dont borrow full stop.

Good call on the OLED, OP. I'm browsing from my LG OLED right now. Best tech purchase I've ever made.

Btw, the cheapest OLEDs are always from eBay retailers. Keep an eye on Slickdeals.net, they're on there all the time. You're gonna wind up spending $500 more at Best Buy which would be more than you'd save with the 10% off.