26, never had a CC but I got a message that I was pre-approved (I assume everyone is because how else do banks make money). Would it be a good idea to use it for small purchases and pay back each month to build up my good goy points? Would the momentum card be a better choice if I'm on top of my shit?
I don't know anything really about credit cards so any help is appreciated. I'm sure there are lots of other people out there who might be in the same position.
Other urls found in this thread:
yes
done this for 1 year and I'm at 780, never used it for more than one or two hundred in a month. most months it's around 50 to 70 dollars/sats
You should have a couple credit cards.
Pay them off every month, NEVER carry a balance and as long as there are no annual fees it will cost you nothing
Nice, mine isn't too bad I'm at 710 but I think it's because I've been paying off student loans for awhile. And still have another......10 years maybe
...
>because how else do banks make money
kek
you got a lot to learn big goy, but yes you should if you're not a retarded cunt.
this guys a cuck but he explains some of the profitable ways of using credit cards, even if you think his suggestions are bad, this is the correct way of thinking about it, get some ideas here:
You should have started building your credit at 18. But I digress. Don't sign up to an email offer because it could be spam or an identity theft scam. Go to your bank and tell them you want to sign up for a card. They will give you a few options. Maybe something like zero interested for 1 year. But if and when you do get approved, use the card for gas, couple groceries, etc. Don't pay it in full every month. This is because they need to see you making payments on time. So use a $100 or whatever, then pay the next minimum payment, and then the month after that, pay it in full.
you were right at first but then you went full retard.
you should never hold a balance, and if they have a problem with you paying it off in full every month, then you don't need their card.
paying it off every month is still making a payment on time dingus.
So, that annual fee. You need to pay them that fee each year just for the "privilege" of having their credit card? How often are those 20% interest rates? Monthly? Yearly? I feel like they have hardly any information on their webpage.
I never said the card forces you to pay it off in full every month. The only card that has this rule is the AmEx Black Card and I highly doubt he has the income for that lol. Sorry if the way I said it was confusing. I only meant he COULD do this if he was approved for a card with 0% interest and it won't hurt.
Take my plastic card, goy. Buy whatever you need, and don't forget to rack up those points. Who cares that you're buying depreciating goods that we'll legally own. We've gotta keep the economy running you filthy aryan pig, so buy buy buy.
Get a few credit cards. Pay them off completely monthly. I pay them off the day before they are due monthly. The respond the money 2 days later on after the statement on monthly expenses.
Not all cards have annual membership fees. I think most of them got rid of this to be more competitive. Interest is calculated daily.
They also say 7% is the best amount to spend.
Underbelly is that you?
are you 12 and have zero self control? credit cards don't force you to buy anything. if you can't take advantage of a tool, then don't use it. but it's not the tools fault for making you shit at using it.
Yes, get a credit card with cash back or points system. Ideally, cash back is better but I prefer points for personal reasons.
I put all my monthly spendings on my credit card and then pay it off at the end of the month. This includes every bill that I can do this with. Keep in mind to do this, you need to be able afford what you spend so you never have credit carried over to the next month.
It nets me an extra $1.5K a year in rewards. Which is nice considering I spend $0 on interest and I'm basically using the card to live.
>Don't pay it in full every month. This is because they need to see you making payments on time.
This is wrong. Pay in full every month.
also if you get pre approved for limit increases accept them. that way you can keep your utilization percentage low and it wont affect your credit score. aim for something like 10-20%.
7% of the limit?
>I never said the card forces you to pay it off in full every month
how did you even remotely think that's what I said?
don't get a card with an annual fee imo.
the interest is usually monthly, but if you pay it off every month you shouldn't pay any interest.