Credit Card Discussion Thread

[Brofato]

Provided by AMEX

Provided by Bank of America

Provided by Barclays.

Provided by Wells Fargo. IDK how or where they came up with this.

Provided by Credit Karma

I love Experian. They're higher than my other two as well. Like by 30 points. When I've had my credit pulled though it seems people usually check Transunion.

 

[Spade]

I really need to get my FICO score from all three bureaus. Discover gives me only one and that's from TransUnion. Is Experian usually the one that reports a higher score out of the three?

 

[Roxx the King]

This is a powerful thread

 

[No Homo]

I love Experian. They're higher than my other two as well. Like by 30 points. When I've had my credit pulled though it seems people usually check Transunion.

Im the opposite.. Experian is lower than ny transunion. My transunion is much higher by 30 pts

Tip here for others.. When i shop for credit I Google which creditor pulls which bureau. So usually im looking for creditors that pull transunion since my score is much higher there.

 

[mannyrs13]

When you switched to the Quick Silver did you get an increase or was $3,800 always your limit?

Take that Quick silver and run ALL of your monthly expenses through it & pay it off in full a day or two before your statement prints, rinse and repeat for 6 months and they will hit you with a nice increase. (You can get an increase every 120 days. So set a reminder.) You can do it right from the online site. Be responsible with that new Sapphire card

Just got approved for a cli on my quick silver one. Got a big money baller limit of $4500 now.

About that payment plan, does that help your score better based on how you pay it? I got it on automatic payment to pay off the balance on the due date. I only got my video streaming service subscriptions on that card since i use the ones with zero interest for daily purchases. Just wondering if I could do anything different by paying it off before the due date or as I go. Payment is due on the 2nd and statement looks to close on the 5th. Maybe I should pay each charge as it hits?

 

[Brooklynzson]

Just got approved for a cli on my quick silver one. Got a big money baller limit of $4500 now.

About that payment plan, does that help your score better based on how you pay it? I got it on automatic payment to pay off the balance on the due date. I only got my video streaming service subscriptions on that card since i use the ones with zero interest for daily purchases. Just wondering if I could do anything different by paying it off before the due date or as I go. Payment is due on the 2nd and statement looks to close on the 5th. Maybe I should pay each charge as it hits?

Good shyt. The lower your debt ratio the better it is for your score. If you're in heavy debt, your score is gonna suffer.

As long as you make that payment by like the 4th, you won't get hit with interest. No need to pay each charge as it hits. That card w/ zero interest, what the cash back % looking like?

 

[mannyrs13]

Good shyt. The lower your debt ratio the better it is for your score. If you're in heavy debt, your score is gonna suffer.

As long as you make that payment by like the 4th, you won't get hit with interest. No need to pay each charge as it hits. That card w/ zero interest, what the cash back % looking like?

I got one thru bank of America that the promotion ends in June. I got $1500 charged already so I'm taking it easy until i bring it down, cl is $5000. Rewards info is:

• 1% cash back everywhere, every time
• 2% cash back at grocery stores and wholesale clubs and 3% cash back on gas for the first $2,500 in combined grocery store, wholesale club, and gas purchases each quarter

Plus 10% bonus when i redeem it to my checking account.

Then I just got an amex. That no interest promotion is for a year. 10% back on Amazon up to $200. Regular cash back is 3% supermarkets, 2% on gas and 1% on other. Mostly got it for the Amazon bonus.

 

[ViShawn]

This is the highest Equifax score I got

 

[Serious]

I have 4 credit cards and only time I would use them if im in a major and I mean major hole... I have one with a balance which I will have paid off in December....

My girl sister has 7 with like 4 max out because she's trying to live like the rich folks in Beverly Hills but she barely work 40 hours

Man

 

[Serious]

I've been listening to Dave Ramsey for a while and reading up on Warren Buffett. They both say stay away from credit cards. Nothing but trouble with very few advantages. The only good one I can think of is renting a car when you're in a jam, but some places would rent you one if you make the full payment ahead of time.

10 Best Money Tips From Warren Buffett of All Time -- The Motley Fool

4. Avoid debt, especially credit card debt
Warren Buffett built his wealth by getting interest to work for him instead of working to pay interest, the way many Americans in debt do. "I've seen more people fail because of liquor and leverage -- leverage being borrowed money," Buffett said in a 1991 speech at Notre Dame. "You really don't need leverage in this world much. If you're smart, you're going to make a lot of money without borrowing."

Buffett is especially wary of credit cards. His advice is to avoid them altogether. "Interest rates are very high on credit cards," Buffett once said in a news release. "Sometimes they are 18%. Sometimes they are 20%. If I borrowed money at 18% or 20%, I'd be broke."

I cancelled both of my credit cards and I don't have to worry about missing a payment.

I think I'm done here.....

 

[ViShawn]

I think I'm done here.....

Credit is certainly a double edged sword depending on how you use it. I hope that people realize it when they open a line of credit though. Credit card companies give huge bonuses banking on people signing up and some people being irresponsible with how they use credit.

 

[mannyrs13]

I think length of credit history is what's hurt me recently. I just got an American Express card in January so my average credit history got lowered. Plus some random online card prior to that. That plus prioritizing my car over my credit cards. Trying to do a reverse snowball effect and pay the highest balance off quicker. Still maintaining a utilization rate around 10% but some balances are too high. Hopefully I hurry and pay my car and can put more towards the cards which shouldn't take me a few paychecks to get back on track. Plus I still got my brothers car on the report so paying my car off won't hurt me by removing that installment loan.

 

[Serious]

Credit is certainly a double edged sword depending on how you use it. I hope that people realize it when they open a line of credit though. Credit card companies give huge bonuses banking on people signing up and some people being irresponsible with how they use credit.

I got into some crazy stupid debt when I was in college. The fukked up thing is that a $50-100 outfit to go clubbing essentially cost me 40x the amount, I would have paid upfront.

Now I'm a firm believer of paying everything in cash.

Here's a documentary I suggest everyone in this thread should watch:


These corporation are pure evil

 

[Larry Lambo]

As interest rates go up, do yall think credit cards are still going to offer zero interest for the promotional periods?

I just picked up the Citi Simplicity card (21 months at no interest). Bout to drop 8-9 stacks on some home improvements and spread the payment out instead of taking that hit at once.

 

[CinnaSlim]

This is the highest Equifax score I got

What do you use to get your scores like this?