Author Topic: Questions and Help for BEGINNERS! (Read 1754568 times)

MEIR613 · « **Reply #860 on:** April 05, 2013, 01:12:31 AM »

Quote from: DovtheBear on April 05, 2013, 01:08:29 AM

Ah okay. I understand- theres a closing date, when the cycle ends. And a due date- when you have to pay it by in order not to incur fees.
(is that right?)
Thanks alot for you clarification!

Yes.

Some advice, be on top of it as much as possible, you won't regret it

DovtheBear · « **Reply #861 on:** April 05, 2013, 01:17:28 AM »

Quote from: MEIR613 on April 05, 2013, 01:12:31 AM

Yes.

Some advice, be on top of it as much as possible, you won't regret it

Thanks!

Fan of Dan · « **Reply #862 on:** April 05, 2013, 03:08:47 AM »

Booking a ticket for me and a friend. Know month and year but not day. Domestic travel on AA using BA miles. Can I just make up a date?

sky121 · « **Reply #863 on:** April 05, 2013, 08:45:34 AM »

Quote from: Fan of Dan on April 05, 2013, 03:08:47 AM

Booking a ticket for me and a friend. Know month and year but not day. Domestic travel on AA using BA miles. Can I just make up a date?

Birthday?

Yeah.

Fan of Dan · « **Reply #864 on:** April 05, 2013, 09:15:23 AM »

Quote from: sky121 on April 05, 2013, 08:45:34 AM

Birthday?

Yeah.

thanks

Fan of Dan · « **Reply #865 on:** April 05, 2013, 11:05:04 AM »

After booking a ticket using BA miles on AA I did not get an email from BA. I did however manage to search for it on AA's website and it said ticketed and allowed us to choose seats. Any need for concern?

sky121 · « **Reply #866 on:** April 05, 2013, 11:09:15 AM »

Quote from: Fan of Dan on April 05, 2013, 09:15:23 AM

thanks

After you get the correct date I'd call up and fix it.

sky121 · « **Reply #867 on:** April 05, 2013, 11:09:41 AM »

Quote from: Fan of Dan on April 05, 2013, 11:05:04 AM

After booking a ticket using BA miles on AA I did not get an email from BA. I did however manage to search for it on AA's website and it said ticketed and allowed us to choose seats. Any need for concern?

How long did you wait? It takes a good couple of minutes IME.

Fan of Dan · « **Reply #868 on:** April 05, 2013, 11:10:42 AM »

Quote from: sky121 on April 05, 2013, 11:09:41 AM

How long did you wait? It takes a good couple of minutes IME.

I booked it ten hours ago, hence my concern.

MEIR613 · « **Reply #869 on:** April 05, 2013, 11:11:54 AM »

Quote from: Fan of Dan on April 05, 2013, 11:05:04 AM

After booking a ticket using BA miles on AA I did not get an email from BA. I did however manage to search for it on AA's website and it said ticketed and allowed us to choose seats. Any need for concern?

Check your spam

Fan of Dan · « **Reply #870 on:** April 05, 2013, 11:13:33 AM »

Quote from: MEIR613 on April 05, 2013, 11:11:54 AM

Check your spam

Yeah thanks just checked it and there it was. So wierd cause I always get their emails.

joey123 · « **Reply #871 on:** April 07, 2013, 05:29:49 PM »

I am a beginner and just opened up my first student credit card, so please forgive me if i don't use the proper DDF terminology. Based on some reading, I have gathered that its ideal to pay most of your Credit off after it posts and not wait until it shows up on the statement. This will of course help one keep his credit utilization low. It seems that ideally, one should only spend up to 20-25 percent of his spending limit.

So, lets take a case where someone has an $1000 spending limit. Would it be prudent for him to spend 750, pay off 600 immediately when it posts and then allow for 150 to show up on his statement? This will therefore ensure that only 150 is reported to the credit bureau at the end of the month. Or shd he just spend the $150 on the card and then pay at the end of statement.

In essence, I am asking the following. If a person pays off his credit immediately after it posts and never waits until the statement, will he ever improve his credit? It would seem to me that the credit bureaus will never see any usage of his cards?!

If someone can please confirm that i am understanding this properly, it would be greatly appreciated. Also, if someone has some more advice on good ways to build your credit, please let me know.

sky121 · « **Reply #872 on:** April 07, 2013, 05:33:10 PM »

Quote from: joey123 on April 07, 2013, 05:29:49 PM

I am a beginner and just opened up my first student credit card, so please forgive me if i don't use the proper DDF terminology. Based on some reading, I have gathered that its ideal to pay most of your Credit off after it posts and not wait until it shows up on the statement. This will of course help one keep his credit utilization low. It seems that ideally, one should only spend up to 20-25 percent of his spending limit.

So, lets take a case where someone has an $1000 spending limit. Would it be prudent for him to spend 750, pay off 600 immediately when it posts and then allow for 150 to show up on his statement? This will therefore ensure that only 150 is reported to the credit bureau at the end of the month. Or shd he just spend the $150 on the card and then pay at the end of statement.

In essence, I am asking the following. If a person pays off his credit immediately after it posts and never waits until the statement, will he ever improve his credit? It would seem to me that the credit bureaus will never see any usage of his cards?!

If someone can please confirm that i am understanding this properly, it would be greatly appreciated. Also, if someone has some more advice on good ways to build your credit, please let me know.

Always leave a bit that's due when the statement closes. It seems to me you get the idea.

AJK · « **Reply #873 on:** April 07, 2013, 05:35:20 PM »

Frankly, I never worry about paying off right when I swipe. Definitely more trouble than it's worth.

The one exception would be right before a round of apps, where the closer your util % to 1-10% the better.

joey123 · « **Reply #874 on:** April 07, 2013, 05:37:24 PM »

Thanks.

So basically, I don't need to worry about using %70 of spending limit if at the time of the statement, its down to %10. correct?

Achas Veachas · « **Reply #875 on:** April 07, 2013, 05:38:50 PM »

correct

MEIR613 · « **Reply #876 on:** April 07, 2013, 05:39:03 PM »

Quote from: joey123 on April 07, 2013, 05:37:24 PM

Thanks.

So basically, I don't need to worry about using %70 of spending limit if at the time of the statement, its down to %10. correct?

You got it.

AJK · « **Reply #877 on:** April 07, 2013, 05:39:28 PM »

Quote from: joey123 on April 07, 2013, 05:37:24 PM

Thanks.

So basically, I don't need to worry about using %70 of spending limit if at the time of the statement, its down to %10. correct?

Again, I don't worry about such things. And, different issuers report at different times, so you trying to payoff before the "statement date" maybe be ~~a fool's game~~ too late.

Having 70% usage, though not recommended, is really irrelevant unless, as I mentioned above, you're doing a round of apps in the near future, or you're super sensitive to the possibility of A/A or FR.

jj1000 · « **Reply #878 on:** April 07, 2013, 05:41:22 PM »

Would a negative balance (meaning the CC company owes me money on the card) help your credit score or me owing them $1 is better?

joey123 · « **Reply #879 on:** April 07, 2013, 05:42:42 PM »

@AJK I got it thanks.

One more quick question: I am a college student and as i wrote above, I just opened my first card. How many months should i wait before i start applying for the non-student cards? In other words, how many months does it take to start building your credit?

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Author Topic: Questions and Help for BEGINNERS! (Read 1754568 times)