I just got a new Prime credit card with a $5,000 limit, in addition to a Discover It card with a $3,800 limit and a business credit card with a $13,000 limit. What can I do to legitimately take advantage of this? How much of my credit should I actually be using? Should I ever carry a balance? Should I get the Prime Amex for my business? I know some of you probably have some serious credit card hacks, this is where I got the advice that took my credit score from 650 to 785 within six months. I just don't know what's really worth the trouble or if the 1-5% back on purchases will ever make a difference
>>55730485Buy everything on credit. Pay off the statement balance every month. Pick cards that give max rewards for the stuff you spend the most on.
>>55730567I've only really ever used credit cards like debit cards, as in I usually pay what I owe before my statement shows a balance. Is that dumb? I just do it that way to avoid accruing interest
>>55730485Coinbase debit card nigger. Stack XLM
>>55730619I have zero interest in crypto, just asking about traditional credit card usage
>>55730485>What can I do to legitimately take advantage of this? Use it on purchases you can afford and pay it off in full>How much of my credit should I actually be using? No more than 33% but ideally under 20%>Should I ever carry a balance? You want to give them a tip? >Should I get the Prime Amex for my business?Yes but you should use it for actual business shit or risk getting butt fucked
>>55730651>No more than 33% but ideally under 20%Is that per card?>You want to give them a tip?lol point taken>Yes but you should use it for actual business shit or risk getting butt fuckedI would, I buy most of the stuff for my LLC on Amazon. I guess a no-fee Amex is a pretty good deal if it gives you cash back?
>>55730698Its your total utilization across all accounts. Your FICO score measures it that way. Yeah no fee with cashback is a good deal. Personally I hate AMEX because I had one late payment in 8 years of using them and they refused to reverse it while Chase and Capital One bent over backwards to reverse it for me. Also their call center is in India.
>>55730781What impact did the late payment have on your account? Also aren't all the call centers in India lol
>>55730808None, late payments dont ACTUALLY show up on your credit until you miss it by 45+ days. I paid it 1 day late because autopay wasnt set up. They charged me 29 dollars for that so I took all of my bills off the card, paid it off and closed the account in spite.
>>55730585JFC how is the population of people who don't know how to use credit cards so highJust put the card on autopay - last statement balance - due dateDo the above and you'll never pay a cent in interest
>>55730567Get up to 100k in credit, then buy gold and crypto, then stop paying. 7 years later it’s off your record, that’s $15k extra per year in free money. Much higher than 3% reward points.I did this during 2017 buying PC parts for mining and crypto directly. I think only 1 bad mark is left on my credit report that will be removed within a year. Never paid any back. Already have new cards but no plans to maxx again as I retired off ETH.