Is This 30% Bullshit on Credit Cards Legit?

[Anonymous No.53729329]

I am 19 and just got my first secured credit card with a limit of $200.
I was going to repair my phone on the card tomorrow but I found out about this 30% rule and the repairs will cost at least 60% of the limit. I read that spending over 30% will actually hurt my fucking score??? How does that make sense??? If I use the money and then pay it off within the month, on time, why should how much I spent matter at all?
What kind of asinine shit is that?
>oy, you must have good credit to get any kind of quality housing, goy!
>you have to loan small amounts of money to purchase products and then pay them back with interest within the month to build your credit!!

>WAIT. OY VEY! NO, DONT ACTUALLY SPEND THE MONEY, GOY, SHUT IT DOWN! YOUR SOCIAL CREDIT HAS BEEN REDUCED!

[Anonymous No.53729355]

>>53729329
god ur fucking dumb, go use google or something fucking christ

[Anonymous No.53729389]

>>53729329
Listen kid, it's real easy: the bank will lend you credit when you don't need it and will tell you to fuck off when you're desperate.

[Anonymous No.53729415]

>>53729329
>cell phone repair
>$200 secured credit card
sweet jesus my sides

[Anonymous No.53729448]

>>53729355
This, but I'm feeling nice. You could literally plug this entire post into chatGPT and get an elaborate answer. But I digress...

>I read that spending over 30% will actually hurt my fucking score
Yes, it will temporarily hurt your score but only if your credit utilization (CU) is at that 60% when the credit card company reports to the credit bureaus - meaning that if you use 60% and pay it off before the credit card company reports your CU for that card to experian, trans union, and/or equifax, it will not affect your score. Also, if they do report your 60% CU and but you pay off your balance and keep a 0% CU, they will reports that 0% CU to the credit agencies and your score will go back up

Your score is affected, but only temporarily. Even if you carry a balance for months - when you lower your CU via payments, your credit score will increase eventually back to where it was, if not higher.

Retards will tell you to keep your CU @ 30%. This is retarded. You want to keep it at 0% while making sure you occasionally use your credit cards for small purchases so the credit card company doesn't close your account. THAT will hurt your score, but only because your average account age will drop.

[Anonymous No.53729467]

>>53729355
Of course I already have, you assmunching homo. All the websites are jew sites like Nerdwallet and Capital One trying to claim that the 30% rule is not only true, but that you should only be spending 7% actually.
7% of $200 is $14. If I spend $14 a month I will gain about one point to my credit score in 5 years.
I am asking here because this is the only financial discussion space I can think of that isn't completely kike worshipping in nature.
I unironically trust the neckbeard faggots here more than "financial wizards", they all glow in the dark.
>>53729389
Yeah, I'm really starting to fucking see that.
Have you any advice on building credit faster than this, anon?

[Anonymous No.53729508]

>>53729448
Thank you anon, this cleared up a lot and helps a lot.
I always plan to pay this card within the month, every month, because I can afford to when the credit limit is only $200 anyway. I work 40 hour weeks remotely at a call center so I am making a few bones right now. So I am not worried paying it off before they report it. I am very religious about checking my online banking.

I even use a checkbook that my bank gave me. It is very helpful,

[Anonymous No.53729529]

>>53729467
If I gave you the answer you will just keep coming back for any inane bullshit question. You say google is trash, okay.. so you another fucking search engine, or I dunno critical thinking. I think you might just need to kys, if you cant figure this one out it might be completely over.

[Anonymous No.53729546]

>>53729529
>If I gave you the answer you will just keep coming back for any inane bullshit question.
Wouldn't, because I don't post on 4chan ever, I usually just lurk.
Mainly because I keep JavaScript off in my browser 99% of the time out of paranoia, I made an exception for this because I was pissed about what I was reading on JewWallet.
>t. /g/nu slash crossposter

[Anonymous No.53729549]

>>53729329
this guys advice is correct but he still isn't giving you the answer you need.

>>53729448
here's a hint

>If I use the money and then pay it off within the month, on time, why should how much I spent matter at all?

now please leave this site or the earth with a glock salted rim pressed to your lips like the margaritas I like to abuse.

[Anonymous No.53729561]

Credit Utilization is Low Impact. If you have no/shit credit(which you do if you're using a secured card) it doesn't matter, also, if you pay it off every week it will never 'register' as high utilization.

[Anonymous No.53729576]

>>53729355

[Anonymous No.53729603]

>>53729561
Thank you as well anon.
>>53729549
>>53729576
Fuck off CIA

[Anonymous No.53729632]

>>53729329
listen man, you sound like a smart kid
all you need to know is that credit scores fluctuate wildly. I was at 777 beginning of the year when I made some huge purchases and my utilization in 2 cards was like 50% and total utilization of my credit limit was like 20%. No one gives a fuck about your utilization as long as you pay it off at the end of the month. Your credit score will take a dip momentarily but will recover in 1-2 months. My score jumps from 780-810 regularly depending on my usage; and I'm always a big spender during the holidays so I always hit like 750 almost during Christmas but by March the next year my score has basically already rebounded and that's with CONTINUING my spending habits until I let off the gas mid Jan/Feb

[Anonymous No.53729645]

>>53729329

Credit cards prey on most people, hoping you’ll max them out during your 0 interest period, unable to pay them off, and get stuck with insane interest rates. I find it hilarious that to have good credit, you’re required to get credit cards. I personally believe credit cards should be illegal. If you can’t afford it don’t buy it. But as I’ve come to learn, credit cards are literally apart of money creation in our fake fiat currency world, and bankers love returns of 18%.

If you can’t afford to pay your repairs off in a month. Save your money, and repair it down the road. But a cheap flip phone in the meantime. Don’t use a credit card

[Anonymous No.53729646]

>>53729632
>>53729603
Fuck, forgot pic

[Anonymous No.53729667]

>>53729508
If you want to increase your credit score, I would get 4 decent credit cards as soon as possible. And by decent, I mean major companies like Capitol One, Citi, Discover, American Express, etc. I say this because if you go with some off-brand like Total or Premier or whatever card that's designed for people with bad credit, you are hand-cuffing yourself to shitty monthly fees and these cards never give you large credit limits - which is essential to a high credit score

I do not give a single fuck about the people who are going to call me a kike. I know a lot about a few things, and building credit is one of those things. There are 3 major factors (and a few other minor) towards building credit that you can control right away (and by that i mean within a few months): your total credit limit, your on-time payments, and average account age. I say get 4 credit cards as soon as you can because that is going to immediately help your credit limit. Be warned, having 4 hard inquiries is going to ping your score, probably drop it by 10 points. But that's fine, inquiries drop off after 2 years and really won't hurt as much after 6 months. And by as soon as you can, I mean one at a time every couple of months. Credit card companies will decline your application if they see someone new is applying for a bunch of credit. So apply for one, wait a couple of months, apply for another.

Having 4 cards will also help your average account age. If you have 4 accounts that are 4 years old, obviously your average account age is 4 years. Then you go and get a car and have a car payment, well that's 4 accounts that are 4 years and 1 account that is 0 years old - average account age is now 3.2 years old. Say you only have 1 credit card for 4 years then go get a car. Well, now you have 1 account that is 4 years old and 1 account that is 0 years old. Your average account age is 2 years old.

[Anonymous No.53729674]

>>53729632
I get it now. Thank you friend.
I am going to ignore the 30% thing then and just get my phone fixed (and then put my card away for the rest of the month and pay off my balance as soon as my next check comes in next wednesday).

[Anonymous No.53729707]

>>53729674
just remember that the most important rule is to pay it off at the end of the month. Never carry-over a balance, that's how the jew wins. Make them pay YOU.

[Anonymous No.53729717]

>>53729645
I need to build credit for an apartment right now so I am stuck using a credit card.

[Anonymous No.53729762]

>>53729667
Lastly, on time payments.

This is usually a percentage. If you have 4 credit cards and are using them to where you have a payment each month, you are making 4 on-time payments every month. After 10 months, that's 40 on-time payments. If you have 1 card, that's just 10 on-time payments over 10 months. Having more on-time payments is great, but shit happens and people forget to pay something or whatever. Well, if you only have 10 on-time payments and miss a payment on something, your on-time payment percentage is 90%. That's really bad. Anything lower than 99% is really bad. Even 99% will hurt your score. Anyways, it helps your score having a bunch or on-time payments. And the best way to do that is to have a bunch of monthly payments, even if they're just $1 each

Keep in mind, if you follow this and apply for 4 credit cards, make sure they are major. I highly recommend creating a Credit Karma account. It will tell you which cards you have good chances of getting approved for. You don't want an application to get rejected. All it does is ping your account for a hard inquiry, but you walked away with nothing. Make sure you spread your applications out. If I were you, I'd apply for a new car every 3 months until you have 4. Use them here and there and apply for a credit limit increase every 3 months. The end goal here is to have: a high credit limit, lots of on-time payments, and start the groundwork for having accounts that have aged. I could go on about how to quickly increase your credit limit but Google can help with that. Good luck. I'm probably about to shit up your thread replying to all these retards who are bound to be seething at my posts.

[Anonymous No.53729823]

>>53729549
>>If I use the money and then pay it off within the month, on time, why should how much I spent matter at all?

First off, that's not a hint you inbred FAS baby. Secondly (and I know this is going to be such a foreign concept for your backwoods brain to digest, but at least try) having credit is a safety net. It helps your score because lenders will see "Oh look, Billy Bob has $500 in available credit, so we can lend him $50 to buy more MREs because if he gets into financial trouble, well, he has $500 in credit to help - so surely he'll be able to repay the $50 were lending him"

That is just one reason why having credit is good, even if you don't use your card. But you have no interest in facts. You're some white trash retard so I'll spit this one fact then just tell you to kill yourself for being so fucking retarded if you decide to reply