/biz/ - Business & Finance

>>50618415
It's an interesting subject, let's post about it.

>>50619767
Have you tried getting a credit card

>>50619801
No. I want to know the best first credit card. And I want to know the best spending habits, i.e max it out and pay it all off for the first month. Does that even work? That's what this thread is about.

>>50618415
Get a secured card (requires a deposit) put some small charges on it, always pay it off in full. Not that difficult desu. After 6-12 months sign up for an unsecured card

>>50618415
Get a credit card, set up a monthly full paymend from your debit and just pretend it's your debit card.

>>50619913
Capital One platinum Master card.
get 300 credit limit.
buy 1 thing, pay for it once it registers in the system.
Do this 5 times over five months, they will increase credit limit to $500. the app will literally show a progress bar every time you open it.
continue to do this 3 more months, request an upgrade(not a new card, call for upgrade means switch to new card with no credit check)to Quicksilver, they will upgrade credit limit to $2000.
buy $1500 worth of stuff then pay back after it registers 5 times over 5 months.
apply for new card Savor card with $5000 credit limit.

Congrats, you have 3% cash back + 750 credit score + $5000 credit limit.

>>50618415

>>50618415

I started off with fairly decent credit from having a perfect payment history on student loans (I didn't get into credit cards until later). From there I got a credit card, charged my regular monthly expenses to it, and paid it off in full every month. Makes it easier to budget when your expenses are consolidated into one bill. Now I have a 800 credit score. Wasn't too difficult.

Building credit is for poor people. If you still need a good credit score to borrow money, you shouldn't do it to begin with. Rich people don't ever need a good credit.

>>50619913
I have perfect credit and I've never paid a cent of interest on a revolving credit account.
Get credit card (my first one was a Discover card)
Set it up to automatically pay the whole "statement balance" on autopay.
Use it like a debit card, never spending more than your monthly budget
Wait 3-4 years and your credit will be perfecto.

>>50620258

>Just be born rich and you won't have to build credit.

Such wisdom.

>>50620278
My family went from bottom 10% to top 0.1% in two generations. If you aren't capitalizing on what little social mobility that are still left it's your own fault.

>>50620258
A lot of people here are poor and will probably need a loan in order to purchase property.

>>50618415
A secured credit card.

>>50620054
>>50620233
Here's my plan, then: I'll get a secured card from my credit union. After 6 months I'll sign up for an unsecured card from my credit union, AND a Capital One platinum Master card. Then a year after that, I'll have 3% cash back, a perfect credit score, and a $5000 LOC ready for me.
Sound good?
Should I be signing up for more or less cards?

>>50618415
buy a new car, get an auto loan. put down a big enough down payment to get approved. do not purchase any F&I options except GAP. then, pay it off slowly.

>>50618415
get a pre-paid credit card with a low cap on it (500), you can get one with no credit score and it's very safe because you can't overspend on it. buy like 50 dollar worth if stuff on it each month and pay the full amount off at the end of each month. this will build your credit score up. it's what i did and it worked very well. never put more than like 20% of the cap on the card for an extra boost in credit score but always put a little on it so you can pay it off

>>50623055
>>50621074
yeah this is what i meant, secured credit card not pre paid, tho you kinda do pre pay i guess. anyway good luck.

>>50621202
I'm not even sure you need a secured card. My first card wasn't secured.
If you have an income and haven't fucked up your credit somehow, you can probably get a normal one.

>>50623800
>If you have an income
I don't.

Discover IT secured card is a pretty good option for a starter card if you aren't confident on getting an unsecured. Actually gives cashback and they will graduate you to an unsecured card and give your deposit back after 7-8 months of on-time payments. And though I'm not 100% sure on this, you can switch the cash-back reward option to the 5% changing quarterly card if you request it.

After that, most of the better cards usually want at least 1-year of history but you can try your luck if you want.

>>50618415
just do what I did and bribe your cousin who works for FICO to fudge your score in their system.

>>50618415
It's never too late anon.
I never needed the credit itself but I almost always use a cc to buy shit online

One of the random big box store cards works to get some type of credit history built and they aren't terrible if you do shop there sometimes. I had to do that even with a 100k+ salary and 100k+ in assets because the scores are stupid.

Still the anon's credit info who posted his info on 4chan.

>>50620054
this, i did this and within a few months i had an 800 credit rating lol

>>50620054
I did this because I was still getting denied for real credit cards despite getting spammed with their promos.

Sucks, but it's worth it and helps to build that habit of always paying it off. Years later and I've still never missed a payment or paid any interest, and I get like 2.5% cash back on any purchase so it's better than nothing.

>>50618415
just buy a lot of cheap shit