Author Topic: Questions and Help for BEGINNERS! (Read 1754148 times)

dtrad1 · « **Reply #2440 on:** June 19, 2014, 10:53:51 AM »

I am early 20s and trying to build my credit in order to get credit cards like AMEX SPG and chase sapphire. I was a student until now (just graduated and starting work in 1 months), but always reported an inflated income when trying to get cards. When i first tried getting CC i applied to Amex a few times and obviously got denied as I didn't understand how it works. I then opened a Citi forward card with $2000 line and have been paying it off constantly since. About a year later (march/april '14) I got approved for discover $2500, capital one $1000 1.5% cash back, and US airways Barclaycard $3800. I now want to close my citi so as to only have 3 lines, but it has the longest credit history. Should I leave all open and try to use all for various purchases? Close citi as it has worst rewards? Close a different one?
Which AMEX is easiest to get approved for as I am trying to get foot in the door in order to upgrade to SPG?
Also tried to get foot in the door with chase freedom and got denied based on too short a credit history...
When applying for cards, what kind of income should I "report", should I say rent or own? Are higher payments better or worse for an application?
Any help or advice would be amazing!

Marco Polo · « **Reply #2441 on:** June 19, 2014, 10:55:55 AM »

Quote from: dtrad1 on June 19, 2014, 10:53:51 AM

I am early 20s and trying to build my credit in order to get credit cards like AMEX SPG and chase sapphire. I was a student until now (just graduated and starting work in 1 months), but always reported an inflated income when trying to get cards. When i first tried getting CC i applied to Amex a few times and obviously got denied as I didn't understand how it works. I then opened a Citi forward card with $2000 line and have been paying it off constantly since. About a year later (march/april '14) I got approved for discover $2500, capital one $1000 1.5% cash back, and US airways Barclaycard $3800. I now want to close my citi so as to only have 3 lines, but it has the longest credit history. Should I leave all open and try to use all for various purchases? Close citi as it has worst rewards? Close a different one?
Which AMEX is easiest to get approved for as I am trying to get foot in the door in order to upgrade to SPG?
Also tried to get foot in the door with chase freedom and got denied based on too short a credit history...
When applying for cards, what kind of income should I "report", should I say rent or own? Are higher payments better or worse for an application?
Any help or advice would be amazing!

Better not to close your first card (unless there is an annual fee). If you live at home, you may be able to report your parents income on your credit apps.

joey123 · « **Reply #2442 on:** June 19, 2014, 11:01:11 AM »

Quote from: dtrad1 on June 19, 2014, 10:53:51 AM

I am early 20s and trying to build my credit in order to get credit cards like AMEX SPG and chase sapphire. I was a student until now (just graduated and starting work in 1 months), but always reported an inflated income when trying to get cards. When i first tried getting CC i applied to Amex a few times and obviously got denied as I didn't understand how it works. I then opened a Citi forward card with $2000 line and have been paying it off constantly since. About a year later (march/april '14) I got approved for discover $2500, capital one $1000 1.5% cash back, and US airways Barclaycard $3800. I now want to close my citi so as to only have 3 lines, but it has the longest credit history. Should I leave all open and try to use all for various purchases? Close citi as it has worst rewards? Close a different one?
Which AMEX is easiest to get approved for as I am trying to get foot in the door in order to upgrade to SPG?
Also tried to get foot in the door with chase freedom and got denied based on too short a credit history...
When applying for cards, what kind of income should I "report", should I say rent or own? Are higher payments better or worse for an application?
Any help or advice would be amazing!

Welcome to the Forums!

Never close your oldest account, so keep your citi card open. Also, you shouldn't rush to close your other three cards as having them open increases your overall credit line, which positively effects your credit score. If you are concerned about the fees, that is a different story.

Report the income you actually make, or else you are committing fraud as you are falsifying legal documents. The one loophole, of course being, that if you still live in your parents house, you can report their income.

I don't understand what you mean when you say, "Are higher payments better or worse for an application?". If you are referring to a higher income, of course it help as it's one of the main determinants if you will be approved for your Credit Card.

With regards to Amex, I don't know the easiest card to approved for.

Hope this helps.

Emkay · « **Reply #2443 on:** June 22, 2014, 12:43:10 PM »

How can i get around specific websites (more specifically nbc) rules of only letting you view the content while in the united states? Without paying obviously

MC · « **Reply #2444 on:** June 22, 2014, 12:53:36 PM »

Quote from: Emkay on June 22, 2014, 12:43:10 PM

How can i get around specific websites (more specifically nbc) rules of only letting you view the content while in the united states? Without paying obviously

Hola works for Netflix and Hulu, not sure about nbc but worth a try.

Emkay · « **Reply #2445 on:** June 22, 2014, 01:49:30 PM »

Quote from: MC on June 22, 2014, 12:53:36 PM

Hola works for Netflix and Hulu, not sure about nbc but worth a try.

thanks alot. Worked

MC · « **Reply #2446 on:** June 22, 2014, 02:05:47 PM »

Quote from: Emkay on June 22, 2014, 01:49:30 PM

thanks alot. Worked

Great!

dtrad1 · « **Reply #2447 on:** June 26, 2014, 11:25:59 PM »

Quote from: joey123 on June 19, 2014, 11:01:11 AM

Welcome to the Forums!

Never close your oldest account, so keep your citi card open. Also, you shouldn't rush to close your other three cards as having them open increases your overall credit line, which positively effects your credit score. If you are concerned about the fees, that is a different story.

Report the income you actually make, or else you are committing fraud as you are falsifying legal documents. The one loophole, of course being, that if you still live in your parents house, you can report their income.

I don't understand what you mean when you say, "Are higher payments better or worse for an application?". If you are referring to a higher income, of course it help as it's one of the main determinants if you will be approved for your Credit Card.

With regards to Amex, I don't know the easiest card to approved for.

Hope this helps.

I will certainly keep the citi card open then. Thanks for your help!

srap · « **Reply #2448 on:** June 30, 2014, 10:22:17 AM »

Are there any restaurants out there that sell Visa/MC/Amex GCs? (Hamaveen yaveen)

Yitz G · « **Reply #2449 on:** June 30, 2014, 06:05:49 PM »

Is there a thread dedicated specifically to alternate methods of liquidating GC's? Its a big issue on the east coast. Its Virtually impossible to unload to BB in NY/NJ. I say virtually bc i know it can be done here and there if you get lucky but for the most part, its very near impossible. Anyone know of such a thread?

etech0 · « **Reply #2450 on:** June 30, 2014, 08:30:03 PM »

Quote from: Yitz G on June 30, 2014, 06:05:49 PM

Is there a thread dedicated specifically to alternate methods of liquidating GC's? Its a big issue on the east coast. Its Virtually impossible to unload to BB in NY/NJ. I say virtually bc i know it can be done here and there if you get lucky but for the most part, its very near impossible. Anyone know of such a thread?

"virtually"

username · « **Reply #2451 on:** July 01, 2014, 09:29:26 AM »

Quote from: Yitz G on June 30, 2014, 06:05:49 PM

Is there a thread dedicated specifically to alternate methods of liquidating GC's? Its a big issue on the east coast. Its Virtually impossible to unload to BB in NY/NJ. I say virtually bc i know it can be done here and there if you get lucky but for the most part, its very near impossible. Anyone know of such a thread?

Try these for starters. Keep your eyes and ears open.
http://forums.dansdeals.com/index.php?topic=38310.0
http://forums.dansdeals.com/index.php?topic=3524.0
http://forums.dansdeals.com/index.php?topic=35941.0
http://forums.dansdeals.com/index.php?topic=6437.0

etech0 · « **Reply #2452 on:** July 01, 2014, 08:24:07 PM »

Is the sapphire preferred the best card to rent a car with? (In US)
Thanks

srap · « **Reply #2453 on:** July 01, 2014, 09:02:25 PM »

Quote from: etech0 on July 01, 2014, 08:24:07 PM

Is the sapphire preferred the best card to rent a car with? (In US)
Thanks

Best to rent with United which offers primary insurance, but only gives 1-1.5miles/$. When returning the accident free car, best to pay with Sapphire which gives 2.14 pts/$.

etech0 · « **Reply #2454 on:** July 01, 2014, 09:07:51 PM »

Quote from: srap on July 01, 2014, 09:02:25 PM

Best to rent with United which offers primary insurance, but only gives 1-1.5miles/$. When returning the accident free car, best to pay with Sapphire which gives 2.14 pts/$.

Huh? So you pay when you return the car?