credit score

[lukky211111]

Go to your local bank or credit union and get a secured credit card, it's the same as a regular credit card but you set the limit with a deposit.

problem is i dont exactly have the money for a deposit.

[ErickS89]

Then don't get a credit card, pretty much that simple.

Everytime you try and get a credit card they run your credit which actually HURTS YOU.

With a secured credit card they won't as your deposit secures your approval.

[lukky211111]

Then don't get a credit card, pretty much that simple.

Everytime you try and get a credit card they run your credit which actually HURTS YOU.

With a secured credit card they won't as your deposit secures your approval.

one credit card can hurt my credit that much?

[GrimNeo]

one credit card can hurt my credit that much?

It can only hurt if your late on the payments. Usually the credit card company will call you and let you know they are reporting you to the credit card bureaus. Usually its 30 days from the date of the scheduled payment. It's not going to hurt you if your a couple days late on the payment. They will just charge you a fee. Use the card for gas and pay it off each billing cycle. That is the best way to build your credit. I just went to the bank and applied for a credit card when I had no credit score. The banker gave me the basic credit card. I used it every month and paid it off. Sometimes I was late. Also try not to check your credit score every month. I would advise you check once or twice a year. 6 month's in between. Your credit score is composed of 3 credit scores. For example credit scores are like this 808/790/760. The lowest credit score can hurt you if the credit company goes with that credit bureau. So you will want to make payments on time and I would not let the credit card company raise your limit at first. This can also lower your score. I think you are making this more complicated than what it really is. Just go to the bank and talk to a personal banker or sales rep. Say I want to apply for a credit card. Wait for it in the mail and make your payments on time. Then if you apply for a car make sure to sign by yourself. Make the payments on time and then go from there. I would advise against getting multiple credit cards at one time.

[lukky211111]

It can only hurt if your late on the payments. Usually the credit card company will call you and let you know they are reporting you to the credit card bureaus. Usually its 30 days from the date of the scheduled payment. It's not going to hurt you if your a couple days late on the payment. They will just charge you a fee. Use the card for gas and pay it off each billing cycle. That is the best way to build your credit. I just went to the bank and applied for a credit card when I had no credit score. The banker gave me the basic credit card. I used it every month and paid it off. Sometimes I was late. Also try not to check your credit score every month. I would advise you check once or twice a year. 6 month's in between. Your credit score is composed of 3 credit scores. For example credit scores are like this 808/790/760. The lowest credit score can hurt you if the credit company goes with that credit bureau. So you will want to make payments on time and I would not let the credit card company raise your limit at first. This can also lower your score. I think you are making this more complicated than what it really is. Just go to the bank and talk to a personal banker or sales rep. Say I want to apply for a credit card. Wait for it in the mail and make your payments on time. Then if you apply for a car make sure to sign by yourself. Make the payments on time and then go from there. I would advise against getting multiple credit cards at one time.

ok so i dont have to do a prepaid credit card? will i possibly get the option to do just a normal credit card? i always ask a lot of questions on stuff like this to make sure i know what im getting in to.

[GrimNeo]

ok so i dont have to do a prepaid credit card? will i possibly get the option to do just a normal credit card? i always ask a lot of questions on stuff like this to make sure i know what im getting in to.

I don't use prepaid credit cards. No offense to anyone that uses them but banks usually give those to risk customers.

 

Yeah, just apply for the starter credit card. Here is an example. https://www.discovercard.com/cardmembersvcs/acqs/app/display?gclid=CKCsqIW-28MCFQsGaQod-XEAuA&pageFileId=paidsearch-general&sc=KB49&iq_id=r518903171&cmpgnid=ps-dca-google-nonbrand-exact-secured-startercreditcard&kwid=Google+Adwords-Non-Brand+-+Secured+-+Exact-Starter+Credit+Card+-+Exact--&ef_id=VNroWQAABVrwow9Y:20150212034013:s

 

All banks and credit card companies have them. Most the starter cards don't have the annual fee.

 

Edit: Customer review

 

Its a great card to start building your credit history. Limits offered are not as high as Chase Sapphire Preferred but its a great card with 5% cash back benefits. Perfect for beginners and students. Plus cherry on top of the regular cherry is the free FICO score in your statements. Cant beat that.

[Zweihander]

Credit/debt is a trap, stay away from it unless you absolutely need to. plan ahead instead.

 

Not entirely true, as you'll need something to help build credit.

 

Having a credit card to use on groceries or gas and paying the bill on time...it'll certainly help you build up your credit score. 

 

Edit: Getting a new credit card won't hurt you. Not paying the bills will, and having a credit card and not using it may also affect your credit score. 

[lukky211111]

I don't use prepaid credit cards. No offense to anyone that uses them but banks usually give those to risk customers.

 

Yeah, just apply for the starter credit card. Here is an example. https://www.discovercard.com/cardmembersvcs/acqs/app/display?gclid=CKCsqIW-28MCFQsGaQod-XEAuA&pageFileId=paidsearch-general&sc=KB49&iq_id=r518903171&cmpgnid=ps-dca-google-nonbrand-exact-secured-startercreditcard&kwid=Google+Adwords-Non-Brand+-+Secured+-+Exact-Starter+Credit+Card+-+Exact--&ef_id=VNroWQAABVrwow9Y:20150212034013:s

 

All banks and credit card companies have them. Most the starter cards don't have the annual fee.

 

Edit: Customer review

 

Its a great card to start building your credit history. Limits offered are not as high as Chase Sapphire Preferred but its a great card with 5% cash back benefits. Perfect for beginners and students. Plus cherry on top of the regular cherry is the free FICO score in your statements. Cant beat that.

i think i might throw in an application with discover card.

[GrimNeo]

i think i might throw in an application with discover card.

That was just an example. I don't work for them but good luck.

[lukky211111]

That was just an example. I don't work for them but good luck.

i know but its a good credit card from what you saw yes?

[GrimNeo]

i know but its a good credit card from what you saw yes?

No comment. I will say they are one of the top credit card companies out there.

[Trik'Stari]

Not entirely true, as you'll need something to help build credit.

 

Having a credit card to use on groceries or gas and paying the bill on time...it'll certainly help you build up your credit score. 

 

Edit: Getting a new credit card won't hurt you. Not paying the bills will, and having a credit card and not using it may also affect your credit score. 

Statistically speaking, most people don't pay their bills very well. The entire credit/debit system is designed to benefit the banks, not the general consumer. Not only that, but you are in fact paying MORE than the base price of the goods you purchase (interest), but you are contributing to the devaluation of all currency, and thus your own poverty.

 

Credit and debit are traps, meant to keep the general populous at a certain level of "wealth". Which we have been institutionalized to believe is "stuff", rather than actual wealth (commodities). This is why the worlds currencies depend upon fiat currency which has no actual value (we do not use a representative currency anymore. The currency the world uses is based on confidence rather than actual intrinsic value), it allows governments, and to a lesser degree (barring proof) corporations, to control the value of currency.

 

Why do you think the richest people in the world own commodities, instead of just having really good credit? They own stock, which is a type of commodity (control/influence in corporations) or stocks of actual commodities (representative currency, which is a note saying "yes, I own this")?

[lukky211111]

No comment. I will say they are one of the top credit card companies out there.

why no comment? is that because you work for a bank im assuming? should i first check with my bank about getting a credit card? and to close a credit card do i get charged for that?

[GrimNeo]

Statistically speaking, most people don't pay their bills very well. The entire credit/debit system is designed to benefit the banks, not the general consumer. Not only that, but you are in fact paying MORE than the base price of the goods you purchase (interest), but you are contributing to the devaluation of all currency, and thus your own poverty.

 

Credit and debit are traps, meant to keep the general populous at a certain level of "wealth". Which we have been institutionalized to believe is "stuff", rather than actual wealth (commodities). This is why the worlds currencies depend upon fiat currency which has no actual value (we do not use a representative currency anymore. The currency the world uses is based on confidence rather than actual intrinsic value), it allows governments, and to a lesser degree (barring proof) corporations, to control the value of currency.

 

Why do you think the richest people in the world own commodities, instead of just having really good credit? They own stock, which is a type of commodity (control/influence in corporations) or stocks of actual commodities (representative currency, which is a note saying "yes, I own this")?

Debit cards take money from your bank account. I don't see that as a trap.

[GrimNeo]

why no comment? is that because you work for a bank im assuming? should i first check with my bank about getting a credit card? and to close a credit card do i get charged for that?

Closing a credit card can hurt your credit score. Yes, I work for a bank and its against my CoC to comment on other companies. The banks can't really tell you how to run your life. They can only give you advise. What you do with that advise is up to you. Since most bankers are also sales rep. I'm assuming they will want you to apply for their credit card. They do make commission off you.

[lukky211111]

Closing a credit card can hurt your credit score. Yes, I work for a bank and its against my CoC to comment on other companies. The banks can't really tell you how to run your life. They can only give you advise. What you do with that advise is up to you. Since most bankers are also sales rep. I'm assuming they will want you to apply for their credit card. They do make commission off you.

so theirs really not much of a difference between signing up online for this card and say a banks credit card? can you at least tell me that much?

[Trik'Stari]

Debit cards take money from your bank account. I don't see that as a trap.

They also charge a "maintenance fee" from your account. The banks basically use your money to lend to others, which they make money off of via interest, and then turn around and charge you money for doing so.

 

Not to mention that banks are only required to keep a fraction of the money they hold in actual cash. Sure you have that law that makes them guarantee your money up to a certain point, barring recent laws ratified by the G20 that allow for funds to be seized from accounts in return for (I can't remember the name, but basically IOU's) of (and this is using their language) "indeterminate value".

 

Commodities in hand, are a far better and more secure way of attaining wealth.

[GrimNeo]

They also charge a "maintenance fee" from your account. The banks basically use your money to lend to others, which they make money off of via interest, and then turn around and charge you money for doing so.

 

Not to mention that banks are only required to keep a fraction of the money they hold in actual cash. Sure you have that law that makes them guarantee your money up to a certain point, barring recent laws ratified by the G20 that allow for funds to be seized from accounts in return for (I can't remember the name, but basically IOU's) of (and this is using their language) "indeterminate value".

 

Commodities in hand, are a far better and more secure way of attaining wealth.

I don't get charged anything. No fees at all. If you have a $500 monthly ach deposit from an employer then no maintenance fee. The bank is also a company and I understand they need to make money. The last bank that offered no fees and allowed people to constantly be $1000 negative went out of business. WaMu. Remember them. It's just not possible for them not to charge you fees. 

[d3sl91]

i think i might throw in an application with discover card.

Don't

 

why no comment? is that because you work for a bank im assuming? should i first check with my bank about getting a credit card? and to close a credit card do i get charged for that?

 

1. Call your bank and ask them what kinds of credit cards you can get through them.

2. If you can get one through them 90% of the time its a free card, you pay no money up front, and no (or very little) fees. 

3. If you cannot, find out why and fix that. (if you don't have a job, you may have a hard time getting a card from anyone). 

4. If you cannot fix it, and need credit, then get a discovercard, etc etc. 

5. Discovercard, Newegg card, amazon card, mileage cards - pretty much most cards other than from your own bank, will have an annual membership fee. Up to several hundred dollars. 

 

So bottom line, contact your bank and ask for a card. You will probably get one for free, no issues. Maybe you will need your parents to cosign or you will need to pay money up front - but if you have been with them for a few years, and have no previous problems, have a job for more than a couple months you should get one. 

 

I applied for one when I was 22. Got one with $1k limit, no questions asked. 6 months later, I bought an $8k car on a loan, no questions asked. They bumped it to $2k limit recently as well. Befdore this, I had no credit history. Just proof that I make XXXXX dollars a year and that I have been steadily employed since I was 18. 

[GrimNeo]

so theirs really not much of a difference between signing up online for this card and say a banks credit card? can you at least tell me that much?

Nope, they both do the same process. I would call them first before you sign up online.

[Yoinkerman]

I use the credit card issued by my bank because it's really really easy for me to check my balances and make payments, I only have to go to one site.

 

Also note that a secured card is not a prepaid card.

[lukky211111]

Nope, they both do the same process. I would call them first before you sign up online.

alrighty think im gonna go talk to my bank tommorow then about getting a credit card. hopefully they approve me for a non prepaid one.

[GrimNeo]

alrighty think im gonna go talk to my bank tommorow then about getting a credit card. hopefully they approve me for a non prepaid one.

Good luck

[lukky211111]

Good luck

thank you and thank you for all your advice i really appreciate it!

[GrimNeo]

thank you and thank you for all your advice i really appreciate it!

Your welcome. Glad I could help.