/biz/ - Business & Finance

>>51086435
I did this for a year as a 20 year old, then got a real credit card, and started running my monthly expenses through it.

t. 30 yo boomer w/ a 790.

>>51086507
yeah that is exactly my plan, i couldnt even get an apple credit card due to limited credit history so i said "fuck it, im getting my card from that random ad from yt" and here we are, i hope i can get a card from my bank soon after this

should i keep them both to basically build credit quicker or should i only keep the real credit card after get it

>>51086435
that pic was created by McDonald's marketing team. Very effective guerilla marketing, they're fucking good I must admit

>>51086435
Whats a credit score can someone explain?

>>51086965
It measures how poorly you manage money. high score=goy

>>51086965
basically every country has its own system for measuring how good you are with managing income responsibly - credit score being the US version, you open a credit card and borrow money from bank (or your own money if you open a secured card) and you kinda borrow and repay money just to show how reliable you are, thats all i know tho i just got to the US lmao

high credit score = oh i can finance a car
low credit = oh i have to pay everything upfront cause they dont trust me due to my low score :sadface:

>>51086435
>>51086507
>>51086668
>>51086938
>>51086965
>>51087263
>>51087430

>Be American
>Land of the free
>Cant even pay for stuff right away but have to get into debt over everything
>Have to keep getting in debt and paying back shit you bought 1 month ago to build up good-goy score
>If you don't get constantly in debt over every purchase and build a good-goy score you are priced out in getting in debt when trying to buy a house or a car

OOOOH SAAAAAAAY CAN YOU SEEEEEE

>>51086435
Here's what I've done
>$300 secured card through the bank down the street
Had that for a year. Bought lunch with it. Score went to like 680
>apple card
Had that for a year. Bought everything with it. Score went to 760
>amex platinum
Annual fee is waived for me. Feels like I'm in credit endgame but I want to see 800+ before I'm satisfied
Everyone says don't use cards for daily expenses I say fuck that honestly I ran all my spending through them, never use debit or cash, never paid one red cent of interest.

>>51086435
Also
>when will i reach a plateau with this?
If you maintain 0/0/0 and a good utilization you'll see it plateau based on the length of your credit history. I've never known anyone to make 750 in the first year for example. Yeah part of it is literally just having credit for long enough. That's why apple denied you, they deny all applicants with under 1 year of history.