Current Events > I just applied and got approved for a credit card because I was bored

(+) Yeah! (+)

huh, that was easy

I've been meaning to get a credit card so I can build up my credit but always procrastinated because I assumed it was a big hassle. I went from thinking about doing it to five minutes later getting told it'll be in my mailbox in a few weeks

I wish I did this ealier dammit
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I would totally kiss you
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Krystalcyanide posted...

I would totally kiss you

Are you okay
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What's your credit score now?
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Who is it through and what are the rates on it? Like any cash back or savings related perks, what's the rate of interest, cap, etc.?
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yunalenne10 posted...

What's your credit score now?

0
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gunplagirl posted...

Who is it through and what are the rates on it? Like any cash back or savings related perks, what's the rate of interest, cap, etc.?

Capital One, the secured card for babies like me

No cashback ;~;
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Harpie posted...

gunplagirl posted...

Who is it through and what are the rates on it? Like any cash back or savings related perks, what's the rate of interest, cap, etc.?

Capital One, the secured card for babies like me

No cashback ;~;

Don't spend more than a hundred or two at a time and pay it back all at once in a single billing statement. That's the best way to safely build credit and not end up paying a ton on interest.
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Harpie posted...

yunalenne10 posted...

What's your credit score now?

0

0 isn't a valid credit score. The absolute minimum is 100-something.
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Pharrell3 posted...

Krystalcyanide posted...

I would totally kiss you

Harpie posted...

Are you okay

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Harpie posted...

yunalenne10 posted...

What's your credit score now?

0

Gotta get a Credit Karma account. It's actually pretty good for me.
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Our little Harpie is growing up so fast <3
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gunplagirl posted...

Harpie posted...

gunplagirl posted...

Who is it through and what are the rates on it? Like any cash back or savings related perks, what's the rate of interest, cap, etc.?

Capital One, the secured card for babies like me

No cashback ;~;

Don't spend more than a hundred or two at a time and pay it back all at once in a single billing statement. That's the best way to safely build credit and not end up paying a ton on interest.

Like little payments? When I'm grocery shopping or buying something on Amazon maybe?

And you don't get interest if you pay your debt in full each month, right? Also is it possible to pay it off sooner than the due date.

ChromaticAngel posted...

0 isn't a valid credit score. The absolute minimum is 100-something.

Oh, well the point is that I've never established credit before so it should be at the bottom. That's how it works right
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yunalenne10 posted...

Gotta get a Credit Karma account. It's actually pretty good for me.

Why use that instead of using the creditor's account directly? Wouldn't it be easier that way or is CK better

solosnake posted...

Our little Harpie is growing up so fast <3

\(^-^)/
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Harpie posted...

Oh, well the point is that I've never established credit before so it should be at the bottom. That's how it works right

No. You start somewhere between 300-500 depending on stuff like how long you've been employed and whatever else was on your application as well as the type of card you applied for and it goes up or down from there.

the two biggest factors are age of oldest credit account (basically if you want to stop using the card you have now, don't cancel it, just stop using it. You want it to sit on your credit report and be old) and size of credit available (this goes up over time as you get better credit and apply for new cards)

the biggest factors for having it go down are late / missed payments and bankruptcy.
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Correct, if you know the billing cycle is Feb. 3 through March 2, and March 3 through April 2 and so on? Well then make a purchase in the first week or two and pay it back. Though some cards DO make it so you won't get interest until the second billing cycle. That is. If you bought something in February you'd want to wait until you're in the March billing cycle to pay it off.

And yes. Small purchases at first. Build up your credit and make sure everything can be paid back without you needing to sell anything should anything happen like you get fired.
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gunplagirl posted...

Correct, if you know the billing cycle is Feb. 3 through March 2, and March 3 through April 2 and so on? Well then make a purchase in the first week or two and pay it back. Though some cards DO make it so you won't get interest until the second billing cycle. That is. If you bought something in February you'd want to wait until you're in the March billing cycle to pay it off.

And yes. Small purchases at first. Build up your credit and make sure everything can be paid back without you needing to sell anything should anything happen like you get fired.

It's not some cards. That's just how credit cards work.

You always pay off the statement balance. It'll be labeled that. That's all you have to worry about on the due date.
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Don't be like dose dumb people who spend more den dey can pay
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