/biz/ - Business & Finance

>in the US, credit is like a knife

This is a good analogy. It illustrates just how many idiots in our society cut themselves badly.

Never accrued a balance on a credit card longer than a month.
Never get a car loan.
Always find opportunities to refinance your mortgage.

This. Until recently, I thought credit cards were a scam for the companies to make money on retards. As a result, I never used them, and now that I want to buy a house, I have no credit to convince lenders I'm trustworthy.

Should I get a credit card to build credit score? I'm 20y/o male student spending about £3k a year with no debt.

>>34250
Yes.

>College accepts cashback credit cards for tuition payments with no fee
>mfw

I use Discover IT and AmEx BCE

>>34250
yes, but ABSOLUTELY pay it off every month. DO NOT PAY INTEREST.

it can be amazingly easy to get in over your head

>>34250
>get starter credit card
>build credit
>get interest free credit cards because you now have credit

CASH MONEY

.tfw no chip and pin
feels bad man

>>34369
Those are two solid card choices.

>>34438
Almost every card and terminal will be chip capable due to visa/mastercard rules by october 2015. now PIN (if it's a part of that) is another story.

Anyone have any of these cards?

AMEX Cenurion
Merrill Accolades American Express
Citigroup Chairman American Express
Stratus Rewards Visa
JPMorgan Palladium
Dubai First Royale MasterCard
Coutts & Co World Card
RBC Visa Infinite
Centurion of Dubai First Royale
NatWest Black MasterCard
Black Brazilian MasterCard From The Santander Group
Visa Signature Card
Visa Black Card
Eurasian Bank Diamond Card

>>33906

Agreed OP.

It makes more sense to me to use a card for large purchases because it allows me to keep my savings intact, while still adding as much as possible to my 401k


I pretty much only use zero interest cards. This way my money continues to make money, and I just make sure to payoff my balance before the interest gets tacked on after the promotional period ends.

>>34575
I have a visa signature. Why do you ask?

>>34575
>AMEX Cenurion
Unlikely here.

>JPMorgan Palladium
Not here, but people on creditboards have them. $30M requirement is waived. Just short of $700/yr in annual fee.

>Visa Signature Card
I have three of these in my fucking wallet. It's not special.

>Visa Black Card
For retards with too much money. For just short of $500 with annual fee, you could get far more out of an Amex Plat or other credit cards without annual fee.

>>34597
have you ever hit a spending limit on that? I am interested in obtaining the cards I mentioned. Visa Signature is one of them. Any problems with the card that you can think of?

>>34250
>>34406
>>34414
>>33906


>tfw I applied for a starter credit card( which has a $300 credit limit) at my credit union(Which I picked as my banking institution due to CUs having a reputation for being less ultra jew than banks), to my surprise got denied with the representative saying I had not been working long enough(2 months)

Later on I get a letter from the CU saying why I was denied in detail, turns out I was also denied to "not making enough income"

>mfw first job is a super market retail part time job
>tfw listed as cashier but actually work stock
>tfw $8 an hour capped at 24 hours a week when I applied
The dude I used to alternate with quit and the store had put on a hiring freeze. So they ended up putting in another stock worker from another a different department into mine, turns out the fucker is full time so he works 5 days of the week now leaving me with 2 days of work.

To make matters even better they ended up cutting my hours from 16 to 14.5 this week. 14.5 hours at $8, my next paycheck will be $90 something... Fuck, I used to bring in $200+ sometimes before when they let me work past 24 hours.
I'm thinking of temporarily filling myself up with part time jobs so I work every day and maybe even 2 different shifts in one day if I can find a job with the correct schedule. That way despite me being payed low I'll be working a lot of hours and I can make the 6k-9k im gonna pay for the car I want. After that I'll save up for school.

>>34623
You're fucked man. I'm making $1500 a paycheck after mandatory and optional deductions once every two weeks.

>>34599
>JPMorgan Palladium
>Not here, but people on creditboards have them. $30M requirement is waived. Just short of $700/yr in annual fee.

I read that you could get one if you have a private banker at chase and get them to give you an application. It'll need their personal approval.. but yeah you are right, the $30MM requirement is waived.

>Visa Signature Card
>I have three of these in my fucking wallet. It's not special.
Any spending limits or problems with the card? Anything I should be wary of with it?

>Visa Black Card
>For retards with too much money. For just short of $500 with annual fee, you could get far more out of an Amex Plat or other credit cards without annual fee.
I frequently receive invites to join and get this card. The only reason why I have not up until now is because reading online I see people say it's not worth it, and that it's a knockoff of the Centurion. Also, it's made of carbon/graphite, and not titanium like amex black. And yeah the fee is $495, or at least that's what they keep offering me

>>34644
>Any spending limits or problems with the card? Anything I should be wary of with it?
If you're looking to be honest tell us how much you're trying to spend. If it's more than $9,999 a month (per card) I'd sweat it. I generally charge and get reimbursed. My cards report a real limit even though Visa Signature cards "have no preset limit". I've never been close enough to test.

My first card was an AMEX Delta - shit costs $95/year so I am thinking about dropping it soon. I run a business that doesn't make much profit but I get to run about $10k/monthly through the card which racks up miles quite nicely

Second card is Amazon which is zero fee and gives me points I can withdraw as cash. The only problem with this card is my credit line is total shit. AMEX gives me 15k, Amazon gives me 1k

unreal

Question about a credit card I want. I bank with two banks (have staff accounts at both so no fees on anything, including credit cards), and currently have a Mastercard with one and want an Amex with the other for the travel incentives on the Amex.

The first bank randomly bumped my credit limit from $2,000 up to $12,000, didn't inform me or anything. Is the higher limit going to hurt me on a credit application for the Amex? Should I contact them and have them put the credit limit back to $2,000?

>>34668
I'm 23 and have more than $100K of credit under my name (total lines) available, what the fuck are you doing?

>>34672
>Is the higher limit going to hurt me on a credit application for the Amex
If you make less than $30K/yr I'd worry about it. Otherwise, it should only help.

>>34681
Company with a shitload of consulting.

>>34636
Where do you work?

>>34609

I've never gotten past 30% of my limit. I've only used the perks a few times. One time the ritz Carlton in NYC was 20% off so I splurged.

I'm by no means rich. If I can get a signature, it's not elite.

>>34676
i don't know what you're trying to say here. im 21 and my credit score is 700+ and these are the only two lines of credit i have. am i supposed to have 100k+ ? should i find a new CC?

>>34721
I'm just being a prick under the assumption you're older.

Why would you sign up for annual fee card at your age?

Threaten to close the delta unless they waive the fee and do so if they won't waive it... not worth it.

You should get another CC soon to replace the Delta and build up your score. Go for something with no annual fee.

>>34696
>>34658
thanks. I guess I'll avoid that card. I don't want any headaches or hassles. The rent alone is $16k a month including utils. Scratching that card off the list, now onto the next ones!

Where des /biz/ recommend checking their credit score? Does having a joint credit card with my parents give me credit? I've had one as an "emergency" card for about 4 years, but I'm not sure.

>>34732
i was traveling a lot at the time and i thought it would be a good idea to pick-up the skymiles CC so I could take advantage of its perks (free luggage, priority boarding, shit like that)

ill probably drop it soon

>>34754
>. The rent alone is $16k a month including utils.
What is your personally declarable annual income?

If it's not anywhere near that get a business credit card.

>>34760
>joint (authorized user)
almost always
>joint (cosigned)
99.9999% of the time

>>34755
https://www.annualcreditreport.com/index.action

this is the only legitimate site where you can check it for free (i believe).

>>34768
Right now $0 but it's all good. Business collapsed a while back, working on getting it up and running again

>>34781
that will not give you your score but will give you your reports
creditkarma
quizzle
creditsesame
those give you "FAKO" scores to track your rough progress but not the scores credit lenders use
to get the scores lenders use you'll have to pay or have a card from issuers that offer a FICO score...rare and not worth applying for on its own.

>>34755
Get a friend in a bank. I do credit checks for my friends all the time.

>>34732

>Threaten to close the delta unless they waive the fee and do so if they won't waive it... not worth it.

Great advice. Credit card companies are actually pretty willing to negotiate. I forgot to pay my bill one time so I was assessed a late fee. I called to ask them to take it off since it has never happened before, and they did it without a fight. M

I've called and said I would like my interest rate dropped, and they've done so. I also got a annual fee waved just by telling them I'd leave if not.

Credit card companies, cell phone providers, and cable providers are the easiest companies to negotiate with. Bottom line is it costs them more to lose you, then it does to acquiesce to your demands. One should always Jew the fuck out of all three of these providers.

What Credit Card would you suggest a poorfag with low credit(still young) but enough sense not to be retarded with it, and consistent pay?

I was looking at rewards cards, but most seem useless unless you're using hundreds of dollars a week.

>>34808
>>34800
>>34781
>>34784
Thanks. I have a friend training to be a Wells Fargo loan officer right now, so I guess I'll ask him when he starts up. Been looking into one of the no fee AmEx cards for the perks, but no idea if I'm even close to qualifying. APR is (almost) irrelevant to me, I would pay it off every month (and some are charge cards).

>>34862
Get a Mastercard. They'll approve anyone.

>>34755
Credit karma nigga.

It's the only free one where you don't have to supply them with a credit card to get your report. Also I believe if you contact experian or one of the other two agencies they will send you a report.

>>34862
Get a capital one card. They will approve most, but don't fuck you over with a huge interest rate either. I think they also give 1.5% cash back.

>>34858
Amex blue cash everyday is not that hard to qualify for

I have an Amex Green and a Bank of America Cash Rewards.

I just applied for this earlier too and got approved

>>34575
>RBC Visa Infinite
My roommate has that card it's excellent if you travel a lot.
>WestJet RBC World Elite MasterCard
This card is also a great one for traveling too

>>34623
Daymn, son, dat CU is letting you down. They have that reputation for checking accounts and issuing loans, but do their self-branded Visas have any advantage? I got one recently from the local FCU where I bank, and the terms seem to be identical to those of my credit card from the big bank.

Speaking of which... I think that my (national chain) bank actually approved me for a line of credit over a grand, while I was in HS and working as a supermarket cashier in 2002 or '03. Later, I applied for a credit card during checkout at Gap — cha-ching! (For the lenders, anyway; they've profited considerably from my naivity).

>>34840
>cable providers
>easy to negotiate with

Nigga where do you live? There's one decent option for cable and internet where I live and they most certainly do not play ball.

What do I do if virtually no credit score? Should I bother trying to apply to a fancy cash back card or just pick up whatever crappy card my local bank will offer?

>>35216
I got my Discover in 2010 when I was 20, had a minimum wage part time job, and no credit. The limit was only $500, but it grew soon enough after getting some student loans and another CC.

Should I get a credit card from Wells Fargo?

I have had a savings and checking account with them for 2.5 years.

The only downside I see with getting a card from them is their 5% is only for 6 months before it turns into 1%.

>>36299
Bank is how I got my first card after being rejected from several others. It's a good way of starting out.

>>36299
>The only downside I see with getting a card from them is their 5% is only for 6 months before it turns into 1%.
Yes if it's your first card, that's a pretty good offer. If no, you can probably get a card elsewhere.

>tfw your parents took out a card for you during your youth
>tfw you've got a bomb-ass credit score and haven't even left college
>We're not even rich, just fiscally responsible

>>39645
There are two common misconceptions with credit:
1) You need to be rich to have good credit.
2) You need to pay interest to have good credit.

Neither is true.

Are Via and Mastercard two completely unrelated companies? Somehow you can only have none or both of them here in Switzerland.

>>39857

*Visa

>>39857
Visa and mastercard are indeed two completely different separately owned companies. Visa was originally founded by Bank of America as BankAmericard and later spun off in 1970 among all the BankAmericard issuers (BoA had licensed to others).

Mastercard was founded in 1966 by several other banks as a competitor.

And they've competed ever since.

>>39882

Thanks. They probably made some deal to share the market here.

>>39890
A bank can agree to issue products from both. I know the store Macy's in the US issued both Visa and American Express at the same time (two cards going to one statement). That was the first I've ever heard of that happening.

JPMorgan Chase in the USA issues both, although not both for one account. They have Mastercards, they have Visas. All depends on the product.

>>33906
>Maybe in your country, but in the US
Do you live in a nuttshell or what?

Do you still think the US is the fucking brain of the world?

Is it worth looking into as a young Australian? I really have no idea what the go is on those here.

>>39907
Before moot blocked Quantcast data from being publicly visible in 2012, well over half the site population was directly quantified as being from the US, close to two thirds. Just saying, for the 1/3 or so of people who might not know, credit is kind of essential in the US, and works differently.

>>39920
Apparently in March 2014 your credit system will go from just being a blacklist of negative info (no info is the best you can have) to moving towards positive reporting like we have in the US where you need to build a score. I don't know much more than that unfortunately.

http://www.whistleout.com.au/HomeLoans/Guides/Credit-Scores-in-Australia-How-They-Work

>>39941
Thanks for the info at least, man. At least it'll get me started. I'm still young (19), so it's not a pressing matter. But I live alone, and am trying to move into a job that'll fill up my hours a lot better than what I currently have. So it seems like something I should at least start learning about.

Excuse my ignorance, but what do I use the points for? Is one point=one dollar?

>>40382
Totally depends on the rewards program. What card is it?

>>33906
hey guys, I have a question

What are the best options for a 21 year old with no credit, no debt, and working slightly more than minimum wage?

what starter cards do you recommend? I plan on getting a starter card, using it to pay $20 in gas/month, and paying off the balance immediately after using the card.

I really hate not having any credit. it feels worse, in some regards, than having bad credit.

>>40600
>What are the best options for a 21 year old with no credit, no debt, and working slightly more than minimum wage?
get a student card from the bank you have checking at

> using it to pay $20 in gas/month, and paying off the balance immediately after using the card.
you need a statement balance to report to the credit bureaus for positive utilization. so you want to charge your gas, get the bill saying "20 bucks blah", and pay the bill in full each month. if you do so, you will build your credit score and pay no interest on your purchases. just paying it immediately after = statement balance is always 0 = looks to other issuers that you don't use the card = they can't see that you use it well or at all = potential risk.

>>40640
aw thanks for the advice. so I just wait for the actual bill to come to pay it?

ok.

are there any cards that you would recommend?

>>40808
yes.

what bank do you have a checking account at?

>>40808
er, cards that you may recommend specifically* if your bank doesn't issue student cards

>>40819
PNC. I'm looking into their student credit cards atm.

does it matter that I'm not a student currently? is the term "student" just a denotation, aka "this person doesn't have a credit line yet"?

>>40455
I am just browsing the various rewards programs. There is no one card I had in mind.

>>40836
citi forward for students
discover it for students

>>40850
that varies by bank, but usually student cards require active enrollment.

Discover is still likely to approve you for the IT IMO, only thing that's tough is Discover is not accepted everywhere. Still accepted most places.

PNC's cashbuilder doesn't look bad. It's generally easier to get a credit card at a bank you bank with (when starting out) as they can see your spending/deposit history and have right to offset (they can take money from your checking account if you don't pay your credit card bills).

>>40861
It totally depends on the program. I earn two points per dollar on my Priceline rewards visa and it's 2500 points = $25 statement credit, so one point equals one cent. On the Citi Forward, points are worth up to more than a cent for certain gift cards, to 2/3 of a cent per point for a statement credit.

>>40888
I have applied to PNC cashbuilder and received a letter declining me the credit card on the basis that "You either have insufficient or no credit history" or something along those lines. Been banking with them for a few years now.

I'm nervous about applying for the IT card. It seems like my best option, and I *really* would like to have it. However, I don't think I would be approved. And I've heard that if you apply for credit cards and get declined, those occurrences serve as poor marks on your credit history.

but yea, the IT card, from my research, seems like it's my best option. it's getting the thing that is worrying

>>40937
>I'm nervous about applying for the IT card. It seems like my best option, and I *really* would like to have it. However, I don't think I would be approved. And I've heard that if you apply for credit cards and get declined, those occurrences serve as poor marks on your credit history.
What you're describing is called a hard inquiry. The impact of them is mostly gone after 6 months. The FICO score most lenders use for lending decisions doesn't count them after a year, and they disappear from your report entirely 2 years after they were made. If you applied a long time ago I wouldn't sweat it. What you're trying to avoid is applying for five cards all at once and getting rejected for them.

What's your annual income, to the nearest thousand (rough estimate, before tax income).

>>40950
I made ~13000 last year

>>40958
You'd probably get approved for the IT.

Do you have no credit, as in no loans of any type (not just credit cards)?

Do your parents have an American Express card by any chance (along with a good credit history)?

>>40968
I have no credit. No loans, nothing.

My older sister has poor credit history, though. As does my mother.

No, neither have an AMEX

debit card are better.

>>40986
OK. Here's my advice.

1) Try to apply for the IT online.
https://www.discovercard.com/cardmembersvcs/acqs/app/display?pageFileId=listingsite&sc=KCV6

2) If that fails, go to your local PNC Branch and apply for a secured card.
With a secured card, you put down a deposit equal to or less than your line of credit. Then, if you can't pay the bill, they use that money to do so. If you close the card, they refund it. Typically secured cards unsecure (keeping it open but giving you the deposit back) after a year or two of good history.

The PNC Secured Card can only be applied for in a branch from what I can find online.

>>41019 HERE
Scratch on #2, PNC doesn't graduate their secured cards.

My roommate from India got a secured card and it graduated in a year from Wells Fargo.

Annual fee is $25.Once his card graduated, he didn't have to pay the annual fee anymore.

https://www.wellsfargo.com/credit-cards/secured/

>>41009
>autistici.org
>self signed cert
holy balls

I got a credit card just to fill the space in my wallet.

Plan or what?

>>41033
>>41019
ok, thanks for your advice!

I won't be able to visit a PNC or even a wells fargo if I am declined for the IT card, as I'm not living in the continental united states at the moment (us virgin islands). And since I'm not applying to 5 different cards I think I can rest assured that even if I'm declined by Discover it's not that big of a deal.

Thanks again

Debt is like a hammer:
You can use it to build a house
Or you can use it to hit yourself in the dick

debt is for poor people, normal people do not need debt.

>>41157

hahahahahahahahahahahahahaha

How's NEET life going for you?

>>41165
i pay my things with my wage, and i do not spend more than i own.

simply as that.

if you need credit: you're poor, and a slave.

>>41184
>>>/g/
>>>/pol/

>>41189
shh. you have to pay debts.

>>41224
Shhh. Debt is not necessarily bad, particularly when the debt you incur actually generates a profit for you (no interest charged, but gain cashback and other benfeits). Stop saying debt like it's some sort of boogeyman.

>>41244
>>41189
>>41165
>>41058

Don't engage the shitposting retard. It just feeds the trolls.

>>41244
>particularly when the debt you incur actually generates a profit for you

that's not debt, that's capital.

>>41267
Under your definition then, a "credit" card gives me capital.

>>41184
normal people are poor

Debt can be used as a wealth building tool (rental houses, business startup)

>>41303
of course, but it's not the case with credit card or other shit like consumer credit.

>>41283
if you think that credit card companies lend their cash for free, you're totally delusional.

>>41314
>debt is bad
>debt's only bad when it is bad

Thanks for contributing, fagballs.

>>41325
They don't. Merchants pay interchange every time I swipe my card.
http://usa.visa.com/merchants/operations/interchange_rates.html

Additionally, those that do activities that incur fees subsidize those who don't. This is how I can get 5% cashback on a lot of purchases, and at least 2% on all of them.

>>41314
Contrast with
>if you need credit: you're poor, and a slave.
Oh look there are some good uses of debt, and some bad uses of debt, so you have to be able to distinguish them and not just generalize that debt is bad.

>>41385
the point is: it's not debt, it's an investment.

>>41033
>>41019
i just applied and was declined. then discover offered me a secured card. gonna apply to that, and it's still apparently the IT card

>>41397
If Discover is offering you a secured card, that's actually news. Give it a shot and see how it goes! Annual fees are typically $20-$40 a year for secured cards, stopping if/when they graduate you to unsecured. Small price to build up your credit score which has a lot of credit and non-credit implications.

>>41414 here
I read on one site that the IT Secured doesn't have an annual fee (wow!) and the minimum deposit is $200. I'd put down what you can ($500 might be a good starting point, but whatever you can afford reasonably less than that if need be).

>>41385
i think the point is that credit card companies only really make money off of personal credit cards when people use their credit cards poorly (i.e. maxing out their cards and accruing late fees). certainly you can use them in a manner that helps you, and the credit card companies will help you understand your debt and get you debt under control to the fullest extent required by law, but that's exactly what the credit card companies hope that you're NOT going to do.

>>41441
I thought they made their money off of transaction fees?

>>41458
they made money also from transaction fees.

but as transaction fees are very regulated, and can't be very high, the bulk of their profit came from users, obviously.

>>41458
i don't think you'd see CC firms marketing towards students and the lower/middle class if it wasn't for the fact that they could charge them 26% APR on any balance they carry.

>>41487
>>41486
I thought there was a law put in place to protect students/young adults from shit like this?

>>41500
There was and is.

>>41487
You're an idiot. There's an interchange settlement going on now for credit, and Dodd Frank capped debit interchange for large banks (the difference between "regulated" and "exempt" visa debit in >>41336 ).

>>41500
lol, faggit

It's simple, really:

Thing costs X.

Do I have X amount of dollars in my savings or checking account RIGHT NOW?

Yes? Then credit card, and pay the credit card bill before the next due date.

No? Then don't buy it. I'm sure I'll live fine without that thing.

>>41548
http://vimeo.com/50044167

>>41267

Capital One, bitch.

What would you guys suggest for someone who banks with AmEx, has about 5k in checking, and is just about to graduate from college?

>>41487
>>41441

It depends on the card company. American Express makes about 65% of its revenue from transactions fees, as opposed to 20% for Visa.

Source: http://www.businessweek.com/stories/2004-08-08/charge

What's the point of multiple cards? Don't get me wrong, I have multiple, but I only use one.

Better for credit score?

>>41944
This is because the majority of American Express cards are issued by AmEx (Centurion Bank) themselves, not third parties like Mastercard or Visa, where they only get a very tiny cut.

>>42310
Multiple cards benefit you in a variety of ways.
-Lower disruption to average age of account when you add a new account (AAoA being shorter means lower score).
-Higher number of positive payments
-More available credit which decreases utilization (utilization being low is good for credit) assuming you charge the same amount

So yes, multiple cards can really help your score. Just be careful and use them once in a while so your issuers don't cancel them. Some issuers will keep your lines open after 5 years with no charges, others may close in as little as 6 months (although this is uncommon).

So i'm totally inept with this side of things, I always used cash to buy things, but i'm moving out of college dorms soon because I can't afford it, so I figure I should get a credit card or debit card, but credit card seems more efficient, since I can buy and pay off later. Obviously I would use this sparingly if at all.

Do different banks offer different cards? Or can I just apply for one card and hook it up to my bank account?

Can I use it to purchase online? I've been wanting to buy stuff online for a while.

>>42344
Makes sense. Thanks a bunch, dude.

>>42419
>So i'm totally inept with this side of things, I always used cash to buy things, but i'm moving out of college dorms soon because I can't afford it, so I figure I should get a credit card or debit card, but credit card seems more efficient, since I can buy and pay off later. Obviously I would use this sparingly if at all.
sounds good, but just use it to buy shit you already have the money for. don't carry balances.

>Do different banks offer different cards? Or can I just apply for one card and hook it up to my bank account?
there are a ton of different cards with different perks and benefits. your best bet is probably to get a student card from the bank where you have your checking account at.

>Can I use it to purchase online? I've been wanting to buy stuff online for a while.
yes

>>42419
>Do different banks offer different cards?
Yeah, but they offer different versions of the card. So you can get an RBC visa, a TD visa, or a CIBC visa. Every bank offer a bunch of cards, go check out the pamplets they have.

>>42419
You're going to need a dbit card to pay off your credit card. I'm assuming you don't want to do these things through mail

>>42494
You don't need a debit card to pay off your credit card. You just need your routing number (can get from the materials your bank gave you or their website), and your account number (listed on every statement you get, can get on your bank's website). Debit card # is totally separate.

>>42521
Sounds like the guy has no banking relationship at all though

Thinking about getting a credit card actually, as it would make some purchases a bit more secure, due to the ability to dispute charges. That said, I'm not entirely sure about how to ask my credit union for a credit card. Advice?

>>42540
I have a bank account, with some money in it. I just always used cash because it was easier, everyone took it.

>>42521
I don't see why you wouldn't get a debit card with a bank account, it's free in almost all cases now

>>42540
he asked about "just apply[ing] for one card and hook[ing] it up to my bank account", so I took that to mean he already has a checking account.

>>42556
>>42551
missed that, my bad

>>41138
agree, debt is a tool

>>42541
>call your CU or visit your branch or visit their site
>Hi, I'd like to apply for a credit card to build my credit up/buy tools to murder my neighbors/finance a large purchase
>(note that the first one is the only good reason to get one, but they'll be happy with the first and third answers)
>They tell you about the cards they have
>you pick one to apply for
>you apply for it
>you get approved, denied, or awaiting decision (within a minute - awaiting decision may be the status for several days)
>you get a card or a list of the reasons why they didn't want to give you one.

>>42559
At Pentagon Federal Credit Union (holla holla get 5% cashback at any gas station in the US credit card dolla), the checking account has a bunch of pain in the ass shit to fill out to get a debit card. I didn't bother.

I'm a US citizen who has made it to middle age without ever having a credit card. (I have a debit card linked to my bank account).

Never liked the idea of spending money I didn't have. As a result I've never been in debt, aside from the modest mortgage I currently have. When I went for my mortgage the bank asked me why I had NO credit history. I laughed. (Fortunately I married a woman with a 790 credit rating, so we got the mortgage).

German here.
Should I get a credit card?

>>42642
does your wife work too?

you're pretty fortunate to have that, you could have been screwed.

>>42688
You may be better off asking in >>>/int/ as I haven't seen a lot of German posters here.
From what I got when we debated the various payment technology methods on /g/ (buttcoins vs cash vs credit vs debit vs canadian tire money, etc.), in Germany there isn't much benefit to having a credit card and most have an annual fee.

>>42642
>Never liked the idea of spending money I didn't have.
You don't have to do that, just don't spend above your means.

>>42642
Credit cards =/= spending money you don't have. I take home about 5k a month, have like 30k in savings, and charge about 500 on my credit card erry month.

>>42642
Its not spending money you don't have, it's spending money you would otherwise but getting added benefits for it.

Jesus christ how is that so hard to get?

>>42683
My wife and I are both self-employed. Before we were married she'd racked up a rather high credit card debt, then had some business success, which allowed her to pay it off. Credit card companies love her. She loves the fact that I don't spend hardly a cent until I have a big pile of money. We have no car payments (bought it cash), and a small mortgage.

Keep your overhead low, and when success hits you can pretty much do whatever you want. We just took a week off to hit Spain and Morocco. Funded it almost entirely from my bank account, which allowed me to use ATMs with a very small fee, though she did whip out her credit card a couple of times.

>>42799
I'm a consultant and spend at least $2k/wk on various shit. The only reason I'm able to go on vacation for free is credit (~50K airline miles, 500,000 Marriott Points, 10,000 Hertz points). I get reimbursed in full for purchases so the credit card rewards are purely gravy, I've never paid interest.

Your approach can work, but being responsible financially and using credit are far from mutually exclusive. Credit is a tool that can be used well. If you carry balances then credit card companies love you. But JPMorgan Chase likes me too; with $1000 a week hotel stays, I'm making them at least $50 a month in swipe fees, which is at least $600 a year. I'm still profitable for them.

>>42732
>getting added benefits for it.
More hassle than I want to deal with. Besides, I live in a place where I can shop and dine out at places that are still cash only. I love watching people's noses get out of joint when they try to pay with a card.

>>42838 here
To clarify:
I don't pay swipe fees. The price of the hotel is the same, debit or credit.

Swipe fees = Interchange fees that merchants (e.g. the hotel) pay Visa, or Mastercard, etc. when you swipe your debit or credit card to pay something. It is subtracted from the amount the hotel or other merchant charges you.

>>42830
>Implying running to ATMs, risking getting mugged, and counting out cash isn't a hassle

>>42838
If you're renting cars and staying at hotels I can see the benefits. My situation is a bit more unorthodox. When I have to travel for work the tickets arrive in my email, and I'm met at the airport by someone who gives me an envelope of cash. I'm usually put up in apartments, not hotels. So the benefits wouldn't apply to me, anyways.

But my BiL is in a similar situation to you, and he never uses cash.

>>42891
>afraid of getting mugged
do you not carry? have you never taken a self defense class?

>>43177
goobypls. Someone has a gun or knife at a close distance, you're taking a huge risk by resisting. Taking a self defense class doesn't make you jason bourne.

>>33906
Where can I check my credit score

>>44634
see >>34800

So mortgages seem incredibly stupid.

>Average 3x the cost of the House you are buying
>Even if you can flip the home one day for 125% of what you initially payed for it that's still short of 300%
>The only real way to pull of a profit in the short term on a mortgage is to rezone residential land as commercial or industrial prior to resale, and this possibility is limited

So why do people try to use mortgages to start into real estate?

>>44719
it's very hard and land prices are lot less than rent, and you build equity

buy vs rent breakeven is 4 years in my area. this includes closing costs, interest, etc...

>>35091
Florida Credit union? Is it suncoast credit union? Cause that's my CU.

>>44719
>>Even if you can flip the home one day for 125% of what you initially payed for it that's still short of 300%
What if you can flip it for 125% in 4 years? Let's see, you'll have paid 3.5%*4 years = 14% in interest, you'll have lived somewhere for 4 years and not paid rent (besides property taxes) and you'll be up 11% after interest.

>>35123
Cause they know you won't leave.

>>41058
http://www.autistici.org/en/who/manifesto.html
They have a fucking manifesto.
And it closes with
>Autism with invention generates sharing
There aren't words.

>>41558
this needs to be posted in every credit thread on /biz/ because so few people understand that.

>>34623
Apply for a shittier card.

>>44634
You're legally entitled to one free credit report per year.

https://www.annualcreditreport.com/index.action

>>42419

pay off your balance completely every month, rather than make the minimum payment, so as to not incur interest charges

I'm confused. Why would access to inexpensive debt (i.e., what a credit card gives you) be wrong/evil?

Are rewards cards even worth it if I don't care.

>>46111

nice trips

>>51121

because people behave irresponsibly, over-spend and ruin their credit while incurring fees

captcha: naglmc practicable

>>33906
>>hurr credit is wrong/evil
>Maybe in your country, but in the US, credit is like a knife

A bit odd to hear that. Here in the UK credit is also a knife, but previously on 4chan I've found Americans to be the most common people to not agree with that concept, vigorously defending the "fact" that it's impossible to use credit without paying.

In particular I've heard that it's nearly impossible to get cards in the US without an annual fee. Is that true or were these just morons?

>>51740
>In particular I've heard that it's nearly impossible to get cards in the US without an annual fee. Is that true or were these just morons?
Morons. Most credit cards in the US don't have an annual fee.

>>33906
I got a pre-approval letter from my CU for their rewards visa card, promising a 0% intro APR. I have 20k in savings and had been banking with my CU for a year.

I have credit cards from Bank of America, which I have never used, but I want to cancel, but I don't know if it's a good idea.

The issue is, I've only been working at my current job for about 7 months, and make about $800-1000/week. Would it be a good idea to call my CU and take the offer and cancel my BoA credit card? Will I even be approved for this card? If so, what would be a realistic credit limit?

>>51990
Per earlier ITT, closing a line stops it from aging, which makes it harder to raise a factor important in your score (Average Age of account). Your best bet, assuming the BofA card doesn't have an annual fee, would be to keep it open and apply for the CU card (if it's benefits competitive and doesn't have an annual fee), and to use the BofA card once or twice a year for a pack of gum (or similarly small purchase) so they keep it open.

>>52000
No fees on the BoA card, but I've closed my BoA checking/savings accounts and moved all my money to my CU accounts.

There will be no annual fees on the CU card either, and I plan to use it for gas and tolls.

Does Green have flyer rewards? Or should I just get a delta?

I'm flying to NYC next month, North Carolina in April, and Chicago in summer, so I dunno if it's too late for me to try to use Delta rewards on these flights if I apply for the card, or if I should just get Green...

>>54839
>Goes Green have flyer rewards
what the hell is green?

Okay I'm a British studentfag and I'm a complete babby when it comes to credit cards. Which one of these is correct:

>You pay for something with a credit card. You have a month to pay it off, or else you'll start to get interest

Or

>You pay for something with a credit card. You have a month to pay it off + a small amount of interest, or else the interest will increase exponentially afterwards

Which one is it?

>>33906
Credit cards are great for building credit. I've had one for nearly a decade now, because my bank offered it to me and I figured 'why not'. And I had them set up a standing order so I wouldn't miss a minimum payment.

Now I have nearly 10 years of no missed payments. My credit score is good enough that my mobile phone provider were actually shocked when they ran my details through the system, and said that when the minimum contract on my new smartphone expires, they'll let me have any phone I want on contract.

Shit's awesome. I'm totally going to get a loan on a nice car once my current one dies or gets boring.
(I'll keep it for now; I'm still learning, and don't want to destroy anything expensive. And it still makes me giggle like a schoolgirl when I put my foot down hard.)

>>55341
In the US, it's the former; no idea about Britbong credit laws.

>>55341
in america atleast it's the former.

>>33906
That looks like fucking goatse

I'm in college, can someone recommend me a beginner's credit card?

>>55606
>>55602

But if it's the former, then what are the point of debit cards? Why doesn't everyone just buy everything with credit cards, then pay the credit bills immediately afterwards?

>>55721
Because a lot of people have misconceptions about credit and thus think hurr durr I have to pay interest. A lot of people also lack impulse control so they need something more like a plastic spork (debit) than a steak knife (credit) where they can't hurt themselves.

>>42445
No it doesn't. It really doesn't.

Credit scores are so fucked up.

>>55217
Amex Green

>>54839
Yes

>>55928
Green lets you redeem membership reward points to flights, but there may be better credit cards if flights is all you're looking for.

>>55941
Yea but they charge higher fees

>>55948
Higher fees? The green is pretty high up there considering, and you usaully don't get the free checked bag/priority boarding benefits on the green.

>>55967
Is it worth it upgrading to gold then?

So I ended up getting a department score credit card (curacao).
I have a account set up where i ave 4 months to pay it off for every transaction I make.
First one was around (oct-jan) $76 and my second one was like $550 (feb-march). N
ow ive made all my payments on time. I have two more payments of $170 to make.
You guys think I should apply for an actual credit card after?

bump

>>55992
Probably not. How much spending a year are you clearing on the green?

>>56365
Not much, maybe 500 a month

>>33906
Side note: We're finally getting European style credit/debit cards

About damn time.

>>56379
Definitely not worth upgrading to the green. In your position, I would have gotten one of the no annual fee Amex Blue cards, similar benefits.

>>56392
http://blogs.wsj.com/corporate-intelligence/2014/02/06/october-2015-the-end-of-the-swipe-and-sign-credit-card/

What kind of advantages does having a credit card hold?

>>56501
Easiest way to build credit. Use it for small purchases and/or bills and pay it off every month.

I've recently got my first credit card (23)

I have a £250 limit. Can I get an increase straight away if I ask?

>>56721
Depends on your credit. If they think you're able to make proper use of it, they'll probably give it to you.

Earlier poster. Applied for Amex Green and lel, got approved instantly. I thought it was hard to get Amex? I make only $15,000 a year (though will get a full-time job upon) graduation and a good credit score, but sheesh, that was shockingly easy

>>56054
guys pls

>>56919
People measure credit worthiness on your ability to open and service credit properly more than on your income. Income can change, ability to settle accounts is more dependent on the character of the person as long as the credit line is not grossly out of proportion with income/assets.

>>56919
Green isn't that hard to get since it's a charge card and you're required to pay it in full each month.

I used to think I could go on forever without debt with a lending institution. That I was some unique snowflake so to speak. The fact is they have all the money, and I need to be able to purchase a home some day. I had a good run but it was just time to put my big boy pants on.

>>57268
I gave up those dreams early. Only 23 and I have a shitload of credit.

Credit score is so good that I could get a car loan or mortgage pretty easy. I'm holding out for the right opportunity, but when it comes along, I'm ready.

>>57302
shit nigga. what is your income?

>>57585
~$80K/yr. Since I do consulting for a living, they're willing to extend me a lot of credit.

>>57302

What is that webpage? I want a list of my measly 5k credit.

Canadafags, how to get visa infinite or mastercard world elite or other super-beneficial cards w/ the annual fee reduced/waived?

I'm using a visa signature atm, but i'm getting 1-2 more cards for better credit.

>>58561
Also, points or 1% back?

What do you guys prefer?

>>34755
I get FICO with my IT card and check the annual free one for inaccuracies.

>>57268
You still should try to avoid debt. Having and using credit cards is one thing but having debt especially on revolving credit lines with high interest is a waste of money.

>>57302
Chase sends me an email at least once a month offering me a loan or a mortgage for some thing or another.

Want a house?

Want a boat?

Want to go back to school?

WE WILL THROW MONEY AT YOU ASSHOLE, JUST TAKE OUT A LOAN!

>>57302
That's pretty damn good at 23 mane

>>34623

I wonder if many credit unions are that rough. I guess I will find out soon.

I would just like to say that I am moving to credit because I simply hate cash unless I have to use it.

I dont like dragging my debit everywhere and with it access to my checking. So I am going to use credit.

I am sick of getting dirty cash, cash so dirty it smells. It's disgusting. I am tired of cashiers trying to pass me bills that look and smell like they have been up someones ass for a month.

I actually have come home, noticed a foul sweat smell, realized it was coming from the cash on my dresser and had to disinfect it, it was that bad. No more. Done. I will keep so much clean cash for emergencies, but from now on, credit.

>>58535
Creditkarma

>>58797
Yeah, hardly bad in any case.

>>58798
CUs vary a lot. There are some CUs that give people $50K credit card lines. It depends.

>>58904
Where the fuck do you live? I don't like cash much but not because it stinks or anything, it's just inconvenient.

>17, working pretty much minimum wage at a grocery store
>Apply for a Sears Card
>Denied because I don't make enough

>19, ~$10/hr
>Apply for Discover IT
>Succeed
>$500 limit, I never spend past $300

Dat credit is so nice.

>>58561
What's your income? also how long have you had a credit card for?

>>34840
>cable providers are the easiest companies to negotiate with

>Why did my bill increase $100
>>Sports fee
>But I don't watch sports
>>suck it, bundle
>Are there bundles without the sports channels
>>Yes, the one with no channels at all
>Price
>>You still have to pay us the same-$1
....
>I'm leaving
>>Cancellation fee is $1000 and no more Internets for you
.......

Fuck this country and fuck football to hell.

>>61783
You are literally the world's worst negotiator. Cable companies will give you tons of free and discounted shit if you say the right things.

>>61801
Born Christan; not Jew

>>61801
seems legit

>>62086
It's literally built into their customer service training.

>>62097
>Built into their customer service training
Which company/companies are you talking about?
Also tell me anon what have you gotten with your negotiation skills?

>>62125
I've dealt with Comcast and Charter.

The following are all after the beginning promotions had expired:
- free dvr
- free hd
- free HBO/Showtime
- free NFL/MLB package

>>62150
Damn nice one, here in Canada I was able to keep the free dvr and free HD and a second dvr in my room that's it

>>61783
Try calling again

>>62254
I ended up cancelling the HBO/Showtime so that I had more leverage to negotiate discounted internet service from them. Also because I just torrented premium cable shows anyway.

What are the easiest, fastest and safest ways to get a good credit rating.

Current best option for me is renting electronic for a short period of time only to pay it off and return it ASAP.

>>62354
Pay rent (to a property management company) one time and in full every month. Get a credit card and use it to pay small bills/make small purchases each month and always pay it off in full at the end of the month.

>>62370

So aside from simple, smart usage theres no real way to quickly and safely build good credit?

>>62370
*on time

>>62385
No.