Credit Card Options

[cmac]

I need a credit card.
I know very little about what I want.
It's important that it will collect airline miles and I'd like for it to have some sort of reward points too.
I obviously would like a low interest rate.
I don't mind a small annual fee.
I bank at Wells Fargo if it helps.
Any suggestions?

[dauss]

I need a credit card.
Get one, there's a shitton of companies dying to give you a CC. Can I assume that you don't have one?

It's important that it will collect airline miles and I'd like for it to have some sort of reward points too.
Which Airline are we talking about here? I believe that if you have airline miles, that is a reward, and you would be unable to get reward points.

I obviously would like a low interest rate.
If you pay your bills on time it woudln't matter what kind of interest rate you have. Most card will offer a low introductory rate, but after a certain amount of time has passed it will go back to it's normal obscene rate.

I don't mind a small annual fee.
Most cards don't have one. Usually AMEX does, but even then you can bitch to them and they'll give it to you without an annual fee.

I bank at Wells Fargo if it helps.
See if they have credit cards or even a secured credit card. You will have to make sure that whatever card they give you will actually build credit. IE not a check card. They may have rewards cards, but may not have cards that lets you save airline miles.

Any suggestions?
You should get a visa/mastercard first because they're accepted where credit cards are accepted.
Cards like Discover and Amex sometimes aren't accepted even though they accept visa/mastercard.
Pay your bills ontime, don't bring your balance to over half of your credit limit, always carry a balance, and wait.

plenty of resources on the net.
www.google.com

Look at what kind of cards they offer:
www.citicard.com
www.discovercard.com
www.mastercard.com
www.americanexpress.com

[cmac]

i have a Visa debit card through Wells Fargo. I'm not counting that. I also have a Visa credit card through Wells Fargo that I got with overdraft protection. I cut it up. It didn't have any rewards or anything like that. I still get the bill, but it's a $0 balance and is pretty pointless really because I have more than enough money to never overdraft.

I guess the main reason I want one is for the airline miles because I plan on flying a lot in the future.

I have great credit, and plenty of it.

oh, and I know i can search the Internet, but searching for terms like "credit card airline rewards" is like the offers that arrive in my mailbox. tons of junk.

[Seeker]

I have the Platinum AAdvantage Mastercard through Citibank. With each dollar I charge I accumulate one frequent flier mile with American Airlines.

Low interest etc., good card, the only bad thing is the relatively high yearly membership fee (85 dollars) and the fact that Citibank is a major Illuminati bank, other than that it's pretty good.

https://www.citicards.com/cards/wv/showSear...MILY_AADVANTAGE

It's a good card, but keep in mind there are dozens of other airline reward cards out there.

[False Dude]

i have a black mastercard mannnnnnn

i get money back on everything i forget the percentage!


- testm0

[2wolUTT]

Mexican American Express

[Spectatrix]

You don't want a rewards card if you expect to carry a balance... they usually have atrocious interest rates. Right now I just have a Wells Fargo college credit card from back when I first banked with them (I've since switched banks, except for that credit card), but I eventually plan to have a rewards card that will be my primary card and then some high-limit, low-interest card if there's some kind of emergency purchase that I can't cover from checking/savings.

[James]

Never cancel a credit card unless you can use it to boost the credit limit of another card. More credit limit = lower percentage of revolving credit in use = higher credit rating. If you're worried about losing the cards you never use, toss them in a safety deposit box.

[impala454]

best way to build credit is to keep a balance. i know everyone thinks that's terrible but you build credit by making payments. buy a car or big tv or something you need to finance and make payments. just don't miss em or be late on em.

[Spectatrix]

best way to build credit is to keep a balance. i know everyone thinks that's terrible but you build credit by making payments. buy a car or big tv or something you need to finance and make payments. just don't miss em or be late on em.

Um, no? Getting and paying off an installment debt (such as a car loan) can build your credit, but keeping revolving debt isn't really a good thing. The only way it might help your credit history is by prompting your credit card company to increase your credit limit, thus making your debt balance a smaller percentage of your available credit.

Basics for building credit:

1) Pay off your bills on time (duh)
2) Ideally keep your balance below 30% of your credit limit. Using a high percentage of what's available can limit your credit score.
3) Hold off on closing old accounts, as the average age of your accounts is figured into your score and your total credit available is used to figure your % used.
4) Even on accounts you aren't really actively using, make a small purchase every 6 months or so and pay it off. If you don't, you run the risk of the credit card company closing your account for inactivity.

Breakdown of the FICO score:

35% Payment history
30% Outstanding debt
15% Length of your credit history
10% Recent inquiries on your credit report
10% Types of credit in use

[impala454]

Um, no? Getting and paying off an installment debt (such as a car loan) can build your credit, but keeping revolving debt isn't really a good thing. The only way it might help your credit history is by prompting your credit card company to increase your credit limit, thus making your debt balance a smaller percentage of your available credit.

I'm sorry but you're just wrong. If you have held credit cards, make purchases, and pay the full balance every month, your credit will be shit. You have to carry a balance at one point or another if you want a halfway decent interest rate on a car or house later. My guess is you've never purchased a house or car before? The whole idea is they want to see that you've proven you can make large, recurring payments over a long period of time. It may not be financially responsible to carry a large credit card balance all the time, but carrying a decent balance will help your credit. So will buying a car or other large, financed item.

and I dunno where this "closing accounts is bad" is coming from. if you go to buy a car and have $10-20k in available revolving credit, you're not gettin a good rate.

[Hartmann]

Just a quick note, if you have a couple of credit cards and don't use one, it's good for your credit as it's seen as capital on your credit report.

Like impala said, carrying a small balance at times is not a bad thing, though you want to show that you can pay a nice amount every month toward your balance.

If you are looking for an airline card, I would look at something like the AMEX Platinum or the AMEX Starwood. The Platinum has a hefty yearly fee on it but the points can be turned into just about anything you want (cash back, airline miles on a lot of different airlines, hotel stays, etc.).

One thing to note on airline miles, the way that these work is that per flight there is a set number of seats available as "Reward" seats or "Points" seats, meaning that you may not get the flight you want for the lowest amount of miles. A lot of airlines have seats available at all times for a higher amount of miles (30,000 instead of 15,000). It's just something to be aware of. If you are continually flying the same airline then you may want to look at that airline's card. Some of the cards accrue double miles and give you a discount on tickets purchased. Continental's MasterCard gives you 5% off purchases at Continental.com for a year.

One other way to accrue miles is to look at the mileage programs through your airline. They usually have a portal to things like BestBuy, Wal-Mart, etc. that allow you to use your Frequent Flier number and accrue miles by buying things at the allotted stores.

[Hartmann]

I have the Platinum AAdvantage Mastercard through Citibank. With each dollar I charge I accumulate one frequent flier mile with American Airlines.

Low interest etc., good card, the only bad thing is the relatively high yearly membership fee (85 dollars) and the fact that Citibank is a major Illuminati bank, other than that it's pretty good.

https://www.citicards.com/cards/wv/showSear...MILY_AADVANTAGE

It's a good card, but keep in mind there are dozens of other airline reward cards out there.

I have that card as well and a little secret for you, if you want them to waive the fee, call and threaten to cancel because the fee is just too much and they'll probably work with you to drop the fee. Worked for me at least.

The reason they have the fee is that some people use the card and get reimbursed by their parent company so that it doesn't hold a balance so they want to make something from it since they aren't getting interest.

[Spectatrix]

I have purchased a car before and I got a halfway decent interest rate. It could've been better, but I'd had credit for less than a year at that point. Paying off an installment debt is great for your credit, as I said, but carrying a balance on a credit card does jack. Yes, lenders want to see that you have experience with a variety of account types, but your credit report doesn't show whether you've carried a balance in the past, only your current balance, max balance, and any late payments during the life of the account.

The "closing accounts is bad" advice comes from just about every article I've read on credit card management. Applying for new credit puts a ding in your credit report, but the older your accounts, the better. It doesn't really matter how much credit you have available, so long as you're only using a small percentage of that.

[moebary]

I'm sorry but you're just wrong. If you have held credit cards, make purchases, and pay the full balance every month, your credit will be shit.

"You don't need to carry a balance on a credit card to have a good credit score. Paying your bill off in full is the best way to keep your finances in shape and build your credit at the same time."

this is what I read from the personal finance writer from MSN, and based on the rest of her credentials, I think I'd believe her over you

[Spectatrix]

To clarify, I don't think that carrying a small balance is *bad*, per se, but it doesn't help except in coercing your card company to give you a higher limit because they think they can make money off of you.

[impala454]

it definitely matters how much credit you have available. if you're a college student just getting out and don't want to get shafted at the dealership, do not have a huge amount of available credit.

as far as carrying a balance, it's not necessary all the time, but if you're planning on buying a car in the next six months, having about 5-10% of your available credit as a recurring balance is a good thing.

your credit report most definitely shows previous accounts and balances.

[impala454]

"You don't need to carry a balance on a credit card to have a good credit score. Paying your bill off in full is the best way to keep your finances in shape and build your credit at the same time."

this is what I read from the personal finance writer from MSN, and based on the rest of her credentials, I think I'd believe her over you

that's great. enjoy your 12% auto loan then.

[GOB]

I'm sorry but you're just wrong. If you have held credit cards, make purchases, and pay the full balance every month, your credit will be shit. You have to carry a balance at one point or another if you want a halfway decent interest rate on a car or house later.

this is absolutely untrue

the breakdown that spectatrix posted is how it's done, straight from fair isaac. nothing else. they can't throw in bullshit rules like how much money you have to spend and how long you have to make payments, it's all completely subjective. what if you bought a $3000 tv every month and paid off the balance? why would it matter if you paid off the balance every month if you are making the payments on time? it might not be the smartest thing to do, depending on what rate you can get, but it's not "wrong."

My guess is you've never purchased a house or car before? The whole idea is they want to see that you've proven you can make large, recurring payments over a long period of time. It may not be financially responsible to carry a large credit card balance all the time, but carrying a decent balance will help your credit. So will buying a car or other large, financed item.

really? so then there's no need for subprime or adjustable rate mortgages? because the only people that would need those would have weak credit history and possible liens/bankruptcies/foreclosures.

virtually anyone can get a mortgage, just as long as you have income.

and I dunno where this "closing accounts is bad" is coming from. if you go to buy a car and have $10-20k in available revolving credit, you're not gettin a good rate.

closing accounts is bad when you don't already have an established credit history (although, depending on the bank your card is through, the closed account can affect your credit for years).

[Spectatrix]

that's great. enjoy your 12% auto loan then.

I got 9.1% with a pretty weak credit history...

[impala454]

this is absolutely untrue

the breakdown that spectatrix posted is how it's done, straight from fair isaac. nothing else. they can't throw in bullshit rules like how much money you have to spend and how long you have to make payments, it's all completely subjective. what if you bought a $3000 tv every month and paid off the balance? why would it matter if you paid off the balance every month if you are making the payments on time? it might not be the smartest thing to do, depending on what rate you can get, but it's not "wrong."

if you can afford to buy a $3000 tv every month you won't be applying for much credit. what she posted is absolutely correct, look at the numbers: 35% of your credit score is payment history. if you are not making payments then how do you have payment history?

really? so then there's no need for subprime or adjustable rate mortgages? because the only people that would need those would have weak credit history and possible liens/bankruptcies/foreclosures.

virtually anyone can get a mortgage, just as long as you have income.

well of course, it's the interest rate that depends on your credit

closing accounts is bad when you don't already have an established credit history (although, depending on the bank your card is through, the closed account can affect your credit for years).

if you have a ton of available credit when you go apply for an auto loan or mortgage, especially if you're young, you will get screwed on the interest rate. the only way to bring that number down is to either call them all up and lower your available credit (which is pretty fruitless because they'll just raise it again without your permission), or close unnecessary accounts (like store CCs).

[impala454]

I got 9.1% with a pretty weak credit history...

right but the going rate is about 7%

i'm not tryin to be mean, but i hate to see you guys coming out of college with zero credit. imho the best thing you can do coming out of college is go find something for about $1000-2000 and buy it, ASAP. go to best buy or some other store where you can buy an item for about this amount and get it interest free. you will pay no interest, and build up some good credit. people think they're building up good credit by paying for a $50 item once a month with their credit card and it just doesn't do anything.

[cmac]

wow, i didn't mean for this to turn into an argument.
regardless, i went with a capital one no hassle card.

now let the argument continue....

[Spectatrix]

if you can afford to buy a $3000 tv every month you won't be applying for much credit. what she posted is absolutely correct, look at the numbers: 35% of your credit score is payment history. if you are not making payments then how do you have payment history?

Uhhh... you charge a bit each month and pay it off each month? That 35% is concerned with punctuality, not the amount you paid. From wiki:

35% — punctuality of payment in the past (only includes payments later than 30 days past due)
30% — the amount of debt, expressed as the ratio of current revolving debt (credit card balances, etc.) to total available revolving credit (credit limits)
15% — length of credit history
10% — types of credit used (installment, revolving, consumer finance)
10% — recent search for credit and/or amount of credit obtained recently

if you have a ton of available credit when you go apply for an auto loan or mortgage, especially if you're young, you will get screwed on the interest rate. the only way to bring that number down is to either call them all up and lower your available credit (which is pretty fruitless because they'll just raise it again without your permission), or close unnecessary accounts (like store CCs).

Where are you getting this from? I've read lots of financial articles on MSN, Motley Fool, and other sites and I've never heard this.

[GOB]

if you can afford to buy a $3000 tv every month you won't be applying for much credit. what she posted is absolutely correct, look at the numbers: 35% of your credit score is payment history. if you are not making payments then how do you have payment history?

people who have more than $3k of discretionary monthly income apply for credit every day. believe me, i deal with it every day. also, you said this earlier:

If you have held credit cards, make purchases, and pay the full balance every month, your credit will be shit. You have to carry a balance at one point or another if you want a halfway decent interest rate on a car or house later.

which completely goes against you making note of the 35% pmt history fact. all else equal, the guy who pays off his balance every month is going to get the exact same rate as the guy who gradually pays it down.

if you have a ton of available credit when you go apply for an auto loan or mortgage, especially if you're young, you will get screwed on the interest rate. the only way to bring that number down is to either call them all up and lower your available credit (which is pretty fruitless because they'll just raise it again without your permission), or close unnecessary accounts (like store CCs).

lots of available credit is just one of many factors. what matters more is that you have a low balance relative to availability, as spec said several times.

[Seeker]

The world is coming to an end because I'm going to have to side with Impala on this argument.

[Seeker]

I have that card as well and a little secret for you, if you want them to waive the fee, call and threaten to cancel because the fee is just too much and they'll probably work with you to drop the fee. Worked for me at least.

The reason they have the fee is that some people use the card and get reimbursed by their parent company so that it doesn't hold a balance so they want to make something from it since they aren't getting interest.

Thanks, I'm gonna try that.

[moebary]

that's great. enjoy your 12% auto loan then.

haha, it's less than half that

there are better ways to have good credit, if they're available

This post has been edited by moebary: Aug 20 2007, 11:38 AM

[impala454]

Where are you getting this from? I've read lots of financial articles on MSN, Motley Fool, and other sites and I've never heard this.

from the mouths of the people who you get your loan from.

wow, i didn't mean for this to turn into an argument.
regardless, i went with a capital one no hassle card.

now let the argument continue....

eh that's every thread

[impala454]

lots of available credit is just one of many factors. what matters more is that you have a low balance relative to availability, as spec said several times.

it's a lot bigger factor than you're giving it credit (hah pun intended) for. when someone looks at giving you a loan, they're assessing risk. if you have not made any purchases or had other loans which involve some risk, they have nothing to go on. it doesn't mean you have to go out and run up 50k of CC debt, it just means you have to be able to show these people that you have paid for something more than the $50/month people charge to their CCs thinking they're improving their credit.

The world is coming to an end because I'm going to have to side with Impala on this argument.

holy cow i got my eye out for the incoming asteroid

[blaarg]

just pay everything in cash and everything is cheaper...

[Hartmann]

just pay everything in cash and everything is cheaper...

Well, let's see, I get a discount with my credit card on airline flights, hotel stays, etc. so no, it's cheaper for me to use the card Plus I get decent miles (I'm up to 150k miles on CO and 300k on AA, granted, not all from the CC), can you say "VACATION!"

[impala454]

and for most people, it's a little difficult to pay cash for houses/cars/etc

[Hartmann]

and for most people, it's a little difficult to pay cash for houses/cars/etc

Also, in the case of a mortgage, it is potentially stupid. There is argument out there that you should take your mortgage and invest a portion of the funds in stocks or in some other kind of interest bearing account and have it pay your monthly house bill.

[impala454]

exactly. which is why you see even mega rich people with mortgages on their homes. not to mention the tax breaks from mortgage interest and insurance.

[blaarg]

but then you don't get to carry your assets around in a silver briefcase...

[False Dude]

That's how I roll. Randy Moss style. Straight cash, homey

[dauss]

I'm sorry but you're just wrong. If you have held credit cards, make purchases, and pay the full balance every month, your credit will be shit.

Weird, I have very good credit, and I've paid the full balance every month on both my credit cards. I've never had a loan or mortgage.

I always carry a balance on my card though, even though I pay it in full every month.

[Seeker]

For the people saying you have good credit without following Impala's advice... I'm sure you do have GOOD credit (fico score around 700 - 750). If you take Impala's advice you will have EXCELLENT credit (fico score around 800+).

[schwab]

i could care less about my credit....

but then again i probably dont have that bad of credit myself

[Spectatrix]

For the people saying you have good credit without following Impala's advice... I'm sure you do have GOOD credit (fico score around 700 - 750). If you take Impala's advice you will have EXCELLENT credit (fico score around 800+).

And it's virtually impossible to have such a high credit score at our age anyway because the low age of our accounts bites us in the butt...

[impala454]

well i think the coolest thing you can do is take advantage of the no interest financing you can get on from a lot of retail stores. helps you build credit and pay no interest and get a really cool TV/fridge/washer/dryer/whatever makes ya happy

back in december i bought my 61" samsung DLP + stand + xbox 360 + games/controllers/etc and spent about $3500 total. they had no interest until 2010 for any purchase over $1000 from the video dept.

[dauss]

For the people saying you have good credit without following Impala's advice... I'm sure you do have GOOD credit (fico score around 700 - 750). If you take Impala's advice you will have EXCELLENT credit (fico score around 800+).

800+ here

and I dunno where this "closing accounts is bad" is coming from.

http://www.fool.com/investing/small-cap/20...edit-cards.aspx

Removing old closed accounts that don't have any negative items is a bad idea simply because you benefit from a long credit history and those accounts speak to that credit history. (Remember, 15% of your credit score is determined by how long you've been borrowing. Here's how the rest of it is measured by The Man.)

[Spectatrix]

Well sure, that's cool and all. You just have to be careful to not do several deals like that at once, because the multiple inquiries on your credit report can ding you.

[Seeker]

800+ here
http://www.fool.com/investing/small-cap/20...edit-cards.aspx

scanned fico report pic or it didn't happen, at your age i highly doubt your score is over 800

[impala454]

800+ here
http://www.fool.com/investing/small-cap/20...edit-cards.aspx

that's wonderful. continue to read all the websites you want. but when you go to a lender to buy a house or a car, and they say "we will give you a better interest rate if you drop your available credit by X and come back" and I do it, and they do, it tends to sway my opinion of what the right thing to do is credit wise.

so how many houses and cars have you financed?

[dauss]

how much is it to check the score again? start a donation so I can buy it and show it to you?

[Seeker]

you get one free one a year, if you already used your free one it's like 10 or 20 bucks through one of the major credit reporting agencies

[Spectatrix]

The *report* is free, the score is not. Unless you know something I don't?

This post has been edited by Spectatrix: Aug 21 2007, 11:42 AM

[impala454]

experian.com has a free report including the score.

how much is it to check the score again? start a donation so I can buy it and show it to you?

i'm not saying i don't believe you. just curious how many cars & houses you've financed. it'd be hard to believe you if that number was zero.

[impala454]

here's a sample of what the free one on experian gave me:


so it's not too shabby considering some screw ups early in college. it's a little disconcerning to see "total approx debt" say $143k, but that's including my house, truck, school loans, recent medical bills, etc. and the revolving (CCs), the highest interest rate card with a balance is 3%

[Spectatrix]

here's a sample of what the free one on experian gave me:


so it's not too shabby considering some screw ups early in college. it's a little disconcerning to see "total approx debt" say $143k, but that's including my house, truck, school loans, recent medical bills, etc. and the revolving (CCs), the highest interest rate card with a balance is 3%

Only 11 points lower than Impala's score, with significantly lower debt. And I'm younger, thus my accounts are younger, so that's not terribly unexpected.




Check out items 2 and 3 under positives and item 2 under the negatives.

[impala454]

right but the only reason mine isn't 50 pts higher is because my % of debt to available is bad. and you don't improve it by getting more available debt, you improve it by reducing your debt and leaving the available alone. i'm going to be buying a house here in houston at some point, and before i do i'm paying down my CCs and reducing my available credit to around 10k or so max.

and i'll say it again, it's very situational as to how your available credit affects the end rate you get. if you're about to buy a big ticket item (house/car/whatever) and you have 20k of available credit and no previous loans, you simply will not get a good rate. the lender has no way of knowing whether you will run up that 20k right after they give you your $30k for a car, and get yourself into trouble.

if our scores are almost the same, and i have 38% available vs your 95%, that should tell you somethin right there

[dauss]

how is it free? I've already used my experian report this year so far, but I can still get one from the other 2.

[impala454]

dunno just did it and it didnt cost anything.

[GOB]

that's not the FICO score

[Spectatrix]

right but the only reason mine isn't 50 pts higher is because my % of debt to available is bad. and you don't improve it by getting more available debt, you improve it by reducing your debt and leaving the available alone. i'm going to be buying a house here in houston at some point, and before i do i'm paying down my CCs and reducing my available credit to around 10k or so max.

and i'll say it again, it's very situational as to how your available credit affects the end rate you get. if you're about to buy a big ticket item (house/car/whatever) and you have 20k of available credit and no previous loans, you simply will not get a good rate. the lender has no way of knowing whether you will run up that 20k right after they give you your $30k for a car, and get yourself into trouble.

if our scores are almost the same, and i have 38% available vs your 95%, that should tell you somethin right there

I think there's probably a good middle range to hit. Having low available credit is bad as far as your FICO score is concerned, but having extremely high available credit can hurt you when you're hunting for a loan or mortgage, even though it doesn't hurt your score.

I also don't think that carrying a balance on a card helps your score, though having a history of good payment with variety of account types certainly does.

[Spectatrix]

how is it free? I've already used my experian report this year so far, but I can still get one from the other 2.

It's a special offer from Experian. You sign up for a free trial of their credit monitoring service and you can see your report and score for free. You just have to make sure and call them up to cancel before the free trial period is over.

dunno just did it and it didnt cost anything.

Call them before the trial period is over or it'll cost you $12.99/mo.

that's not the FICO score

Hrm, you're right, it's an Experian-exclusive score. Dumb.

[impala454]

it's all the same crap. it's not like your score w/them is gonna be 750 and your FICO will be 500

[Seeker]

I think you do have to pay extra to get your FICO score but it's only like ten dollars more.

If anything this whole thread illustrates how frustrating credit reporting is since no one really knows how FICO calculates your score, and stuff on your credit report is subjectively interpreted by various lenders. To top that off having false information removed from your credit history is painful process. I've never had to go through and I hope I don't, you can read the horror stories online.

The industry needs some kind of open credit rating standard, the rating and scoring algorithm needs to be open source, and all the third-party ratings (experian score etc.) need to go away. Then you need a reliable and fast credit history dispute process to correct false information.

[impala454]

well the main thing people need to keep in mind is that your credit score is just a start, it's not the end all be all. your goals are to get good interest rates on your big ticket items. while your credit score definitely matters, it's your full report that matters most, showing your history over the past seven years. from all the loan dealings i've had, i'd have to say the single #1 most important factor in getting a good interest rate is making payments and making them on time. the only way to build that up is to make payments on something. when you go buy your $150k house they need to see some history that shows you can pay a $1500/mo house note. if all you've done up to that point is buy $50 worth of clothes once every couple months, you don't demonstrate any reliable history, and you'll get shafted on your loan.

[jwttu]

it'll be hard to get a loan with a good rate anyways without spotless credit for at least for the next 6 months or so. This subprime fallout has really made lenders jittery.

[dauss]

well, this is totally messed up. When I signed my lease for the apartment they to run a credit check to determine the amount of the deposit. Lower the score, higher then deposit. So I asked the lady because she saw it. I can't remember the exact number, but it was 800+.

So, here's the one that TransUnion says:


Then this is the one that Experian says:

Granted I have significantly less credit that you guys, but I don't have a house or a car that can be ganked when you don't make the payments.


So how do I cancel this experian bullshit?

[impala454]

it'll be hard to get a loan with a good rate anyways without spotless credit for at least for the next 6 months or so. This subprime fallout has really made lenders jittery.

yeah but if you're in the market for a house it's a great time to buy. it's a big time buyer's market right now.

[impala454]

and dauss that's freakin weird... 840? i'm curious to try the transunion one now too. might have to try that later

[JRockTTU]

I fucking gave up on this thread when Impala started talking.

Step 1) find a card on the internet that gives you points for an airline you like to fly (southwest has their own card, but one of the AmEx rewards cards will convert their points to SW miles).

Step 2) apply for said card. The thing that I think was lost in this thread was that you said you have good credit and you're not worried about that. I don't know why this turned into a "how to increase your credit score" thread.

Step 3) put all your bills/groceries/incidentals/gas on this card and pay it in full each month. It's hard if you don't have self control and a good idea of your monthly cash flows, but we're all grown ups here.


Just make sure you pay it in full and you won't have to worry about an interest rate. Rewards cards don't always have crappy interest rates. I opened one about 6 months ago that gives me 3% back toward the mortgage on my house and it has a 12.24% rate. Of course I pay it in full every month so that doesn't matter.

Oh yeah, and after looking at the post above mine: If you need a free credit report then use www.annualcreditreport.com. It is the free yearly reporting that is set up by the credit bureaus and you don't get any subscription bullshit from it and they don't bug you at all. It's the legit one.

[impala454]

I fucking gave up on this thread when Impala started talking.

apparently not

[Epic]

my transunion is 756. lets see if i can't get that up in the next 9 months

[JRockTTU]

apparently not

I meant I quit reading it, dumbass. These threads get too diluted with your "I'm always right and you're always wrong" posts, so I don't even bother reading them anymore.

Just because you think you're right all the time, and say you're right all the time, doesn't mean you're right all the time.

[impala454]

I meant I quit reading it,

apparently not

[JRockTTU]

apparently not

Stop being a fag.

[schwab]

i signed up for an american airlines one today....i needed more airline points

[impala454]

Stop being a fag.

heheh still readin it eh

[cmac]

so i have a credit card i got from wells fargo a while back that's for overdraft protection. having no plans on using it i cut it up but it is still active.
should i just cancel it, or is it doing something for me just sitting there?

[impala454]

if you're never gonna use it, yeah cancel it.

[Hartmann]

Sorry to dig this thread up but thought I would share an experience with FreeCreditReport.com

My parents got their free credit report about 2 months ago. They filled out the form, received their credit report and went along their merry way. My mom was paying their credit card bill last Friday and noticed a charge for $12.95 from CIC*TripleAdvantage. She didn't know what it was so she asked my dad. I was in the room working on my laptop so I did a quick lookup, seems that that charge is from FreeCreditReport.com.

I called the TripleAdvantage people and got the run around. Spent about an hour on the phone with them demanding they refund my parent's money and cancel their account. After a while they finally canceled the service but were still reluctant to refund the charges, since my mom was on the phone with the credit card company she had them remove the "unauthorized charges".

FreeCreditReport.com does not ask for a credit card number, they simply charge a credit card that shows up in your credit report. Make sure you cancel this service immediately after getting your free credit report or use annualcreditreport.com instead (truly free).

[Mommy]

I had the same problem a year ago; however, I got a refund because I never received the credit report in the mail...which I was supposed to. It took me several phonecalls to get the money and I had to speak with a bunch of people that dont speak good English...very aggrivating. My credit card was being charged monthly and I didnt notice it until month 3. There is a better service than freecreditreport.com that I used after that situation and it went fine, but I forget what it was called....very similar though

[cmac]

i used freecreditreport and they asked for a credit card. the service was free for a month and i just called and cancelled.

[Hartmann]

i used freecreditreport and they asked for a credit card. the service was free for a month and i just called and cancelled.

I just attempted to get a free credit report and was not asked for a credit card.

After speaking with the credit card representatives again yesterday, they confirmed, you do not have to input your credit card information for them to charge you and they do not make it clear that this is not a truly free service on their site.

There has been one lawsuit against this company already and apparently the FTC is getting involved.

[cmac]

[Hartmann]

My screen does not show that.

However, my dad just tried on his laptop and it does. Weird.

[cmac]

i did forget to call and cancel though and they charged my card the first month.
i guess that's how they get you. FREEcreditreport is misleading though.

[impala454]

yeah same here, you got the number handy?

[cmac]

1-877-481-6826

[Spectatrix]

I just attempted to get a free credit report and was not asked for a credit card.

After speaking with the credit card representatives again yesterday, they confirmed, you do not have to input your credit card information for them to charge you and they do not make it clear that this is not a truly free service on their site.

There has been one lawsuit against this company already and apparently the FTC is getting involved.

I've been asked for my credit card every time I used them (which is I think three times now... successfully called and cancelled the credit monitoring every time). The front page of their website clearly states:

When you order your free report here, you will begin your free trial membership in Triple AdvantageSM Credit Monitoring. If you don't cancel your membership within the 30-day trial period, you will be billed $12.95 for each month that you continue your membership.

http://www.annualcreditreport.com is for the government-mandated yearly free credit reports, though you can't get your FICO score for free.

[schwab]

since this thread is about credit cards

i now have a citibank aadvantage card so i get miles on american...works for me

[pysex]

stay away from crap like that


even though they clearly state you will be enrolled in a monthly service, the way they handle customers is borderline scamming


like mentioned

go through annualcreditreport.com or something that's sponsored by a reputable organization or by the credit bureaus

also..it's better to go through your bank to get credit reports...i know some offer some kind of financial advice and you can get one cheap that way

[Spectatrix]

go through annualcreditreport.com or something that's sponsored by a reputable organization or by the credit bureaus

Not that I'm disagreeing with you, but it's worthy of note that FreeCreditReport.com is actually sponsored by Experian.

[Hartmann]

since this thread is about credit cards

i now have a citibank aadvantage card so i get miles on american...works for me

Which of their cards do you have? The platinum?

Definitely call and ask about having the fee waived. I just canceled mine (switching to an AmericanExpress) and it was a pain in the butt.

[impala454]

Not that I'm disagreeing with you, but it's worthy of note that FreeCreditReport.com is actually sponsored by Experian.

yeah when i called to cancel, the lady was like "which site was it again?" and listed like ten different websites that they operate with.