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Post Reply Your First Credit Card ?
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34 / F / Buried under a pi...
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Posted 10 days ago
It was some Verizon Visa student credit card. I think the limit was $500 or something like that. My parents had wanted me to avoid getting a credit card, but I HAD to get my books for classes somehow. The student store did NOT allow checks so I either had to:

A. Carry a LARGE WAD of cash to get books (stupid and dangerous) OR

B. Get a credit card.

The card was useless in terms of rewards. It gave me points to call home--I commuted to school FROM home! The card eventually changed over to a Citi American Express that had "Thank You" points that were an absolute pain (I think the original company dropped the card or something. It was weird to go from a Visa to American Express, but whatever). I had to get a different card because when I changed schools. (Junior College to 4 year transfer) because the new place only accepted Visa and Mastercard so a Visa became my backup and had better rewards.

Then bunch of things happened and Citi ROYALLY ticked me off so I looked for a new primary card. (I think you should have 2 because if, for some reason, your one card doesn't work, it can be a real problem if you don't have a backup). I looked around and eventually found a perfect fit for me. (Mastercard is AWESOME! NO FOREIGN TRANSACTION FEES!!!) Once I had my new second card, I dropped the Citi card and never looked back. I'm a pretty laid back person--so you KNOW I was TICKED OFF since I dropped my first credit card. At that point, Citi had ticked me off so much I wanted to NEVER do business with them EVER again! I only dropped my first card AFTER I knew I would be happy with the new Mastercard. Best credit card decision I ever made.
usuibj 
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21 / F
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Posted 10 days ago , edited 10 days ago
My first credit card was one through my old bank, which was Think Mutual. I had a 500 dollar limit at first, then it was raised to 1,500. I closed my bank account & credit card with them because of personal reasons.

I am now with Affinity Plus, I have a credit card with them which my limit is $4,000 . And a discover credit card as well, with a $3,000 limit.

I got carried away and maxed out my cards, and I had to put in A LOT of OT to bring it back to a zero balance. I learned my lesson to not go over 30% of your limit.

My credit score is around 730.

I'm looking into getting one more, I don't know which one though.
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38 / M
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Posted 10 days ago

Dogempire wrote:

I don't use credit cards, even though I should.


No, you shouldn't. Having a credit card is not really a good thing. It causes most people to spend more money than they normally would. Also, it causes many people to spend money they don't have and get themselves in some major trouble with debt that hounds them for years.


Humms wrote:

There are only two things in life that really matter. Your reputation, and your credit. Fact

Visa platinum.

1% cash back on all purchases, 4% Cashback on groceries and gas. $3500 limit. good for emergencies, and more reward for spending, building that credit score, and this way it pushes you to manage your spending in order to make up for that $90 annual fee. I know some places don't take Visa, but filling up your tank is the best way to get cash back, and going to the grocery store when they have good sales, and you generally want to always find ways spend your money wisely

I've never checked my credit score, but if I can have this card I'd say it's pretty good


That isn't a very good card. Any card with an annual fee is not a good card. In order to break even, you would have to spend $2,250/year on groceries (about $187/month), or $9,000/year on other purchases, if counting either just by themselves. There are much better rewards programs that do not require nearly as much money spent to break even. All of that is also assuming that you are paying off the card each month, so that no balance is retained. Better indicators for whether your credit is high are the interest rate and the credit limit. You didn't mention the rate, but $3,500 is not a particularly high limit.

Your credit is not something that matters as much as you rate it. You can still get a home loan, for instance, with no credit score. The institution just has do funding differently, instead of relying on just the credit score. It is far better to not be using credit and getting into debt.

Regarding the question asked, my first credit card may have been the credit card I still have with my bank. I still need to cancel that and cut it up. I had an 800+ score when I was buying my home, but I certainly no longer need or would get any use out of having credit or a credit score. I have no intention of having any debt beyond the home loan, which I plan to pay off as soon as possible, hopefully in the next 10 - 12 years.
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M / mmmm.... Tea...
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Posted 10 days ago
Ah man my first credit.... It's been awhile since I got moved into the
section where those army can even just stand , while the roads are being
manipulated into the being of which we were suppose to go and get a
nice little bunny that can be as soft as the one at the fair but why can the fair
be anymore larger, I mean c'mob there can be more rides that the public transportation
carrying all these people and saying we suck... Why can they admit that even the flies
can even do nothing about of what the Trump administration can demonstrate the new
develop road that can measure the width of the valley where it can be hidden...
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24 / Mexico
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Posted 10 days ago , edited 10 days ago
After graduated, i used to pay with my debit card because i though that a credit card was no necessary, and i felt prod of spend my own money (and because dad always told me that credit cards were bad and they were going to eat me haha ). But finally one day i decided to get one and got "The Gold Elite Credit Card American Express" (what a large name!!) with $18000 pesos limit (like $1000 dollar limit). I'm very used to pay all my debs every month so i haven't paid any interest and got great benefits

Remember, debts are not a game, be responsible with your credit cards, or you will regret it!!
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Posted 7 days ago
A bank-issued Visa... which I still have. It's the longest line of credit that I have.
Vahvi 
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26 / M / Ever Changing
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Posted 7 days ago

KiT-basher wrote:

A bank-issued Visa... which I still have. It's the longest line of credit that I have.


Same
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Posted 7 days ago , edited 7 days ago

AnimeAddictANN69 wrote:

to build credits-- get a credit card? that's the advice that i got from way back (for students/no credit or bad credits)


When I got the first card in college, I had NO credit--not bad credit, just no chance in my life to ever build anything, and no references to my name--and needed to have them handed out by predatory card pimps to unsuspecting naive first-time-independent students the first day on campus, in order to pay for the textbooks.

Fortunately, things today are different:
Everyone rents their textbooks, we hate credit cards, and banks now offer promotional debit-card accounts to college-town students to keep them from acquiring MORE debt than college will already sock them with. (And that was even before you needed a Visa/MC number just to buy anything online.)
And if you want to build credit, just pay your utility bills and college loan on time.
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22 / M
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Posted 7 days ago
I got my first credit card this year. Before now I never saw the point of a credit card if I had a debit card, but after a point I thought that it would be a good idea to build credit.

Capital One, $500 limit (was recently raised to $750). I recently used it to get a filling at the dentist, but since it was so close to my credit limit it hurt my score. I generally use it to buy lunch or some books
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30 / M / PlayStation VR
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Posted 7 days ago , edited 7 days ago
I can't sing enough praise for my Capital One Quicksilver card. I didn't get a credit card until I was 28, despite having previous secured debt, like a car loan. I was going to take a trip to Japan and figured I better have one just in case. It also proved useful with a rental car.

At this time, my credit sucked due to a few previous black marks and no "unsecured" debt. You actually have to have a credit card to get a decent credit score - it counts for 10-30% of your FICO score. I wasn't expecting much.

Anyway, I signed up for a Capital One Platinum Mastercard from a prescreened mailer (one that uses prior credit hits) with a shit interest rate. I was approved for a $300 card and entered into their "credit steps" program. Basically, in five months, they would bump the limit up to $500 if I made payments on time. I ended up paying it off after I got home from my trip, then just used it for gas tank fillups.

Five months later, I got an email saying they gave me a credit limit higher than expected: $3300. I was pretty ecstatic. I carried a balance on it through the end of my 0% interest period as I'd moved and used it to buy a washer and dryer. After I payed that off, I kept using the card for gas, restaurants, etc. and paying it nearly off every month. It is better to carry a small balance than no balance, after all.

Earlier this year, they offered to move me from the basic "Platinum" card to one of their rewards cards - Venture (flight miles) or Quicksilver (cashback). I chose the latter. Cut to a few months later, and they asked for my annual income update. After filling that out (mind you, I only made 2% more than last year), they emailed me a week later and said they bumped me to $6300. I basically use the card for everything now, and pay it off in full every two weeks. I get cash back, charged no interest, and I still report a balance under 10% utilization on my credit report.

TL;DR: Capital One treated me very well, I paid my bills, used the card, and my credit is doing well now. I also get free money.
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Posted 7 days ago , edited 7 days ago

Ejanss wrote:

When I got the first card in college, I had NO credit--not bad credit, just no chance in my life to ever build anything, and no references to my name--and needed to have them handed out by predatory card pimps to unsuspecting naive first-time-independent students the first day on campus, in order to pay for the textbooks.

Fortunately, things today are different:
Everyone rents their textbooks, we hate credit cards, and banks now offer promotional debit-card accounts to college-town students to keep them from acquiring MORE debt than college will already sock them with. (And that was even before you needed a Visa/MC number just to buy anything online.)
And if you want to build credit, just pay your utility bills and college loan on time.


utility bills can't build up a lot of credis--

i want buying power by having a credit card

i started out with a $300.. now i have enough to charge a car on the same credit car ( if there's a dealer who will accept credit cards? )

i don't like dealing with cash or debit-- since as a consumer they offering me NO CASH BACK

it's all credits for me--

people think that if you have credit cards will will acquire more debt .. : not if there's no annual fee and always pay in full each month

I used my credit card to pay for tuition and book costs-- everything charged on one credit card. . but instead of paying interesting on the amount and carry it over month after month I paid off the balance in full each billing cycle (like a debit card)

The credit card companies are paying me in cash back for using their cards to make purchases when i pay them 0

Gets It.
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32 / M / Raleigh, North Ca...
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Posted 7 days ago
I've been the type that will use credit cards to build credit, then dump them.
One thing that really boosted my credit was the loan for my Alembic bass guitar ($33,000). When I paid that off in less than a year, my credit score skyrocketed fairly high.

As for how frequent I use credit cards? Not very. I get a crap-ton of offers in the mail for high-as-hell credit limits, but I don't really want to have that amount of spending power. My logic is that if I cannot pay off the entirety of the maximum limit within 6 months' worth of work, then I don't really see the point in me having it. Mind you, this is a self-imposed restriction - not something that I recommend for everyone. I've just been burned in the past from "friends" who have taken credit cards for their own use (my family has done this before as well).

Regarding cashback and other features, they're nice and all - I do admit that I use a "rewards card" for flying (for business and personal). This is primarily because with as much traveling I do for work (which gets reimbursed), I get a fair amount of frequent flyer miles/points depending on the airline I take without it actually costing me anything. For example, I have around 800,000 SkyMiles through Delta. Because I meet their required MQS/MQD, I qualified for "Diamond Medallion" status (which allows for unlimited upgrades to First Class seats, free access to their Delta Sky Club rooms, and complimentary "Clear" membership which allows me to go through TSA security just with a fingerprint). How much have I paid that hasn't been reimbursed? About $1,600 (about the price of one first class flight, when I only went on a few flights with "Comfort+" seats).

But outside of that, if I weren't working for a company that had me travelling off and on, the benefits wouldn't be enough to convince me to keep using it.
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Posted 7 days ago
I've gotten offers, but I've yet to accept any of them. It's useless to try and build credit or debt when I barely have an established financial identity, forgetting about the fact that my job is barely above min wage. I'd be likelier to entrench myself in debt before I pay one off.
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26 / F / hell's grave
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Posted 7 days ago
I just got a credit card this summer. I got approved with 1,100$. I mean I still feel iffy with credit cards. But I'm trying too have a good credit score. I only use it too fill my car with gas.
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Posted 7 days ago

M-chann wrote:

I just got a credit card this summer. I got approved with 1,100$. I mean I still feel iffy with credit cards. But I'm trying too have a good credit score. I only use it too fill my car with gas.


it has no annual fee right?

just use it like debit card-- only charge what you can pay off in full each month

if you have cash back then that's even better-- you get money back for spending without paying annual fee or interests if paid in full each month
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