Credit Card Thread - Now with a Beginner's Guide to free travel/FAQ

Discussion in 'The Mainboard' started by blind dog, Apr 10, 2015.

  1. 49ers169

    49ers169 Administrator
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    Is it necessarily one and the same though? You can be fiscally responsible and never check your credit and still be in great shape.
     
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  2. Druce

    Druce Fuck football.
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    That's not really accurate.
     
  3. Frank Martin

    Frank Martin tough love makes better posters
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    Yes it's the same concept. You're just using different terminology.
     
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  4. 49ers169

    49ers169 Administrator
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    Yes overall it is fiscal responsibility in keeping awareness of items that impact personal financial state however you don't have to check your credit to be in great shape.
     
  5. Det. Frank Bullitt

    Det. Frank Bullitt God Bless Texas
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    My friend (realtor) said she 'bought' down her interest rate since they were also above some arbitrary 700 number (may have been 740 idk) and your rate doesn't naturally continue to drop.
     
  6. Druce

    Druce Fuck football.
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    You can buy down your rate no matter what credit score you have.
     
  7. Lip

    Lip Well-Known Member
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    So teach me something today. I like learning.
     
  8. Druce

    Druce Fuck football.
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    I've posted this several times in the home owners thread, but no one "gets" a rate based on qualifying factors. Every rate on the market is available to you if you qualify for a mortgage. You can buy down to the lowest rate possible, or you can have a closing cost credit and take the highest rate possible. I could go deeper into it but that's the short version.
     
  9. Savage Rob Chubb

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    Hey guys I've never had a credit card before and probably need to get one soon. I bank with Regions (if that matters at all) what should I get?
     
  10. pearl

    pearl Fan of: White wimmens feet
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    Discover It card my friend. Pm your e-mail and I'll send you a referral link
     
  11. Fusiontegra

    Fusiontegra My life is dope and I do dope shit.#SparedByThanos
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    I swear to god, there's like a foot signal that brings pearl to this thread every time there's a chance he can refer someone to Discover.
     
  12. Frank Martin

    Frank Martin tough love makes better posters
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    yeah, you're not being as cute or as smart as you think you are on this one.
     
  13. Fancy

    Fancy thanks, i hate it
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    A 740 at 19 will still, most likely, be looked at as a thin-file and you could easily get denied for something someone with an establish 700 might be approved for.

    Obviously that doesn't apply to you anymore but just some #CreditLessons
     
  14. 49ers169

    49ers169 Administrator
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    Wasn't trying to be cute or smart.

    I got a credit card when I was 17 and always stuck to the principle of spend less than what you earned pretty simply. I didn't check my credit score until I was 24 and following that guideline I was at a 770 score.

    I never checked my credit or doing heavy budget analysis just knew my limits as I had enough to meet my necessary ends. To me if it was that easy to blow my score it would have happened given I didn't check my score during that time I was just better off than most when I was in school.

    Someone can be poor and really be into finance planning/credit monitoring when they are in college and be in an average place.
     
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  15. Frank Martin

    Frank Martin tough love makes better posters
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    he didn't say pull your credit report. He said watch your credit.

    the only incentive to pay your credit card or bills in general is to protect your credit. So anyone paying their bills, especially on time, is watching his or her credit.
     
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  16. Clutch

    Clutch Thanks
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    So does it matter if i go with a regular IT card or a student IT chrome card?
     
  17. -Prime-

    -Prime- Well-Known Member
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    Go regular
     
  18. Clutch

    Clutch Thanks
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    Reason why? I still am a student
     
  19. 49ers169

    49ers169 Administrator
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    Fair enough although I would argue not paying unnecessary interest fees would be the other incentive besides protecting credit.
     
  20. OleMissFan

    OleMissFan Member

    You get better cash back on the regular it card.
     
  21. Frank Martin

    Frank Martin tough love makes better posters
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    why would you bother paying that?
     
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  22. Jimmy the Saint

    Jimmy the Saint The future is a benevolent black hole
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    We are same. Parents helped me apply for a credit union credit card right before I went to college. I don't think I opened a Credit Karma account until I was very close to or graduated. I've said it in here before but one of the most valuable lessons they taught me was to never put anything on the card that I couldn't pay cash for at that moment. I still abide by that today and have a clean history with no missed payments, all in full, and a score approaching 800 and the only loan I've ever had is a car loan that was paid off after it was totaled last year.
     
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  23. Frank Martin

    Frank Martin tough love makes better posters
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    But you knew if you didn't pay your bill, your credit would be affected. Right?
     
  24. SeƱor Cockblock

    SeƱor Cockblock Eastside to the westside
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    Current cards in use:

    Amex Preferred for grocery - 6% cash back
    Sallie Mae for Amazon and gas - 5% cash back
    BAC Cash Rewards for remainder 1.25% cash back
    USAir/American for flights and $99 companion tickets
     
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  25. AC

    AC Well-Known Member
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    Looking to get another card to go along with my Discover and Costco Amex (will probably get rid of this one once Costco partnership expires) and I would like to get one for travel. I don't travel a ton and it would probably only be used to help build up miles for maybe a trip or two per year. The two cards that I was looking at are the Capital One Venture card and the Chase Sapphire Preferred. Recommendations?
     
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  26. Arkadin

    Arkadin inefficiently efficent and unclearly clear
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    Yeah, one of those. Can't go wrong with either, if you sign up for the sapphire make sure to add the 2nd user for the 5k points. It's the same card number, just with a different name. I put my dad's name on one, my friend used his dog, it's just free points
     
  27. 49ers169

    49ers169 Administrator
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    I love my Sapphire Preferred definitely keeping it despite the annual fee. So easy to accumulate points and the service is exceptional.
     
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  28. Joystick Izzy

    Joystick Izzy Well-Known Member
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    I swear to god you're in my head. Everything about this post is me. I'm leaning towards the venture card.
     
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  29. Beachy Toast

    Beachy Toast He wants you too, Malachi.
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    Chase Sapphire is great. If you spend 4k within 90 days, you get 40,000 points. Expensive but there are ways around that.
     
  30. Frank Martin

    Frank Martin tough love makes better posters
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    such as?
     
  31. AC

    AC Well-Known Member
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    I'm somewhat of a novice when it comes to travel credit cards. Is there a big difference between points and miles?
     
  32. two

    two Hello
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    If you have a preferred airline then it's good to probably go with that airlines card... I like Chase Sapphire because I can transfer points to almost anyone
     
  33. Det. Frank Bullitt

    Det. Frank Bullitt God Bless Texas
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    buying gift cards at a department/grocery store for instance.
     
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  34. Jimmy the Saint

    Jimmy the Saint The future is a benevolent black hole
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    Most airline cards will offer you priority boarding, club passes, discounts on mileage redemption, etc.
     
  35. LSU90

    LSU90 Well-Known Member

    Recently got a cap one venture card. Its 0 for first year then $59 per year after that. Has anyone had success with getting the annual fee removed? Also what happens if 10 years down the road I don't want to use that card anymore but I don't want to close the line of credit...Do they still charge the annual fee?
     
  36. Arkadin

    Arkadin inefficiently efficent and unclearly clear
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    Yes, if the card is open you're going to get charged
     
  37. gordon bombay

    gordon bombay magician's alliance enthusiast
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    A lot of times if you call to cancel when the AF hits, they will offer you points or a credit to offset the fee. I called last year when my platinum amex fee hit and they gave me 25,000 points. Last week my delta gold amex fee hit so I called to cancel and they didn't offer anything so I went ahead and closed. I think the more you spend on a given card, the more likely you are to be given points but there are all kinds of case studies out there of people being given certain amounts with different spends.
     
  38. LSU90

    LSU90 Well-Known Member

    Thanks for the input. How much does it affect your credit score if you do close the card?

    On another note I finally made my parents realize that they need a credit card with rewards (They thought they all cost money). They are looking for cash back rewards card with no annual fee. They would spend it mostly on groceries and gas. What would yall recommend for them?
     
  39. Arkadin

    Arkadin inefficiently efficent and unclearly clear
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    Bank of America cash rewards
     
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  40. C A N E

    C A N E Let justice be done though the heavens fall
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    If you only have one credit card and a short-term auto loan, your credit isn't as strong as you think.
     
  41. Jimmy the Saint

    Jimmy the Saint The future is a benevolent black hole
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    Uh I have several more cards now and my scores are pushing 800. But thanks.
     
  42. C A N E

    C A N E Let justice be done though the heavens fall
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    It is why I said "if"
     
  43. Clutch

    Clutch Thanks
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    I was approved for the IT card yesterday
     
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  44. Fancy

    Fancy thanks, i hate it
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    How many cards should I realistically have? I have 3 and I feel that's adequate.
     
  45. pearl

    pearl Fan of: White wimmens feet
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    [​IMG]
     
  46. Jimmy the Saint

    Jimmy the Saint The future is a benevolent black hole
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    I have 5 but I only use two of them. I was going to close one of them but they waived the fee instead so I figured I might as well keep it open.
     
  47. Arkadin

    Arkadin inefficiently efficent and unclearly clear
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    I have 6 but only use 3 really. Will probably close my southwest card in a year or so
     
  48. Fancy

    Fancy thanks, i hate it
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    Thinking I should probably open up a couple more no-fee cards just to have credit lines open. I don't have auto loans or shit like that so...
     
  49. Arkadin

    Arkadin inefficiently efficent and unclearly clear
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    Do you have a chase freedom? Can transfer those points over to your sapphire and intro is usually like 20k points. Discover is good for 3 months of bars and 3 of amazon
     
  50. Arkadin

    Arkadin inefficiently efficent and unclearly clear
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    Amex blue cash preferred is free too and I got like 400 when I signed up and they'll give you a huge credit limit for percent utilization purposes