I'm late to the party, but I finally got my first credit card. General tips?

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Jul 30, 2014
7:22:26pm

ldssdl

I'm late to the party, but I finally got my first credit card. General tips?

For building my credit score or other useful tidbits you wish you knew when you were starting?

TIA

This message has been modified

Originally posted on Jul 30, 2014 at 7:22:26pm

Message modified by ldssdl on Jul 30, 2014 at 7:24:37pm

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ldssdl

Bio page: ldssdl
Joined: Mar 3, 2013
Last login: Apr 25, 2024
Total posts: 29,101 (3,805 FO)

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Messages

Author

Time

I'm late to the party, but I finally got my first credit card. General tips?

ldssdl

7/30/14 7:22pm

Max it out ASAP. Credit bureaus love this.

SandYFan

7/30/14 7:23pm

Never use more than 20% of your available credit. Always pay it off every month

RexIdaCoug

7/30/14 7:25pm

I haven't heard the 20% thing before. Can you explain why?

ldssdl

7/30/14 7:26pm

here you go

RexIdaCoug

7/30/14 7:28pm

For clarification you are saying do not carry a balance forward more than 30%

7/30/14 7:36pm

My understanding is that credit utilization is

RexIdaCoug

7/30/14 7:41pm

^^This is true.

Jonce17

7/30/14 8:00pm

Yup- they report the statement balance to the credit bureaus

cheezedawg

7/30/14 8:10pm

This is going to sound really naive, but...

ldssdl

7/30/14 8:39pm

I think so....

RexIdaCoug

7/30/14 11:07pm

Not exactly

supertux

7/31/14 9:20am

examples:

supertux

7/31/14 9:25am

Use creditkarma.com and creditsesame.com to see your credit score for free.

supertux

7/31/14 9:25am

Statement balance != current balance. You can have a current balance of 100%

supertux

7/31/14 9:13am

Ok. So when/how is the statement period different than the due date?

ldssdl

7/31/14 9:16am

RE: Ok. So when/how is the statement period different than the due date?

supertux

7/31/14 9:20am

Nonsense. max it out every month and pay it off every month

Bob Vance

7/30/14 9:44pm

Get a pretty one with lots of fish on it.

PolarCoug

7/30/14 8:13pm

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