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/biz/ - Business & Finance

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53300634 No.53300634 [Reply] [Original]

im a 30 yo thats never had a credit card (just use debit) and barely understand personal finance basics. Apparently credit score matters a lot and I couldnt even finance a new bed without help because they couldnt find any credit history on me. What is a how do i credit car d good for me?

>> No.53300703

>>53300634
Get a Credit Card and only use it to pay for bills. If you're credit score is that damaged get a "secure credit card" in which you're required to spend like $200 on it monthly

>> No.53300729

boy do you have a lot of problems ahead of you. buy a fucking $150 ikea mattress to sleep on, on the floor. do not finance a bed.

save up 3-5k in your chequing and approach your bank about a credit card, and choose the one with no monthly fees. the fact that they haven't offered you one says a lot about the state of your bank account.

>> No.53300756

the repo man coming to take my bed

>> No.53300810

>>53300703
That's not what a secured credit card is. This board's takeover by the crypto scam makes perfect sense in light of comments like this.

>> No.53300819

>>53300634
sign up on credit karma (it's free)

credit karma will also have credit card offers based on your score. pick one. your limit will be low and be raised over time. after you get your card, buy everything on credit from now on and pay off the balance at the end of month before any fees accrue. you can schedule a monthly payment to pay off your entire balance.

it may also be a good idea to buy things on credit even if you have the cash. for example, i bought a couch on credit last year (affirm, 0% interest) just so that i could pay it off in chunks to improve my credit

>> No.53300833
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53300833

>financing a bed

>> No.53300849

>>53300634
I never had a cc until I tried to have as an "emergency option" on my honey moon since I was going very far from home.
I was worth easily $500,000 at the time. Never owed a dime to anyone.
Got turned down by three different card companies for literally $1,000 limit.
lmao

>> No.53300862
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53300862

>>53300819
I used to Post on Fatwallet before it shut down. The founder of CreditKarma used tonppst there, he had a lot of scammy ideas. Now I see commercials for CreditKarma 10+years later and all I can think is that I wouldnt trust that like with my SSN.

>> No.53300906

I was in the same boat. Nearly $1m net worth, 300k+ income, owned $750k in rental properties under an LLC, and had to get a fucking Walmart card with a $300 limit.

From there I expanded to an Amazon prime card which has a $9000 limit.

Considering travel cards with $30,000+ limits atm. It’s only been two year since I got my first card.

>> No.53300971

>>53300634
Look up a high rated secured credit card. You have to pay first before you get the card and how much you pay becomes the credit limit. Just make sure there is no annual fees and you pay your bill every month and you will build credit while getting rewards. Most other cards require you to already have a credit score to apply for them so secured cards are the best starting point imo.

>> No.53301056

>>53300634
this thread is pure bait

>> No.53301398

>>53301056
no im actually just retarded and im reading all the advice

>> No.53301501

>>53300862
great call. my credit score was quite literally 100 points lower than what credit karma reported as

>> No.53301543

>>53300634
you shouldn't participate in society.