Credit Cards

[Glen_Livet]

Glad you asked.  I'm trying to fix my credit and establishing a line of revolving credit--while keeping my installment credit in good standing--appears to be the fastest way to get there.  When I say "use" I mean increase the line at as low of a utilization rate as I can.

I went "off the grid" dredit wise a couple of years ago and didn't have any credit cards--I was 100% debit and cash.  It taught me how to live very much within my means, of course.  However, when i suddenly needed to do things last year, like get an appartment and furniture, I found myself getting turned down for financing offers tht I would have never had problems getting 2 years before.

From everything I've read, my credit had taken a dive because of my off-the-grid experimet.

[Glen_Livet]

Holy crap!  They gave me a CL of $10k!  I'm gonna have a sick CU now!  I've been paying cash for everything for the past 2 years.

Wow.  I swear to you guys, I'm not a troll, LOL!

[john398]

---

Glen_Livet wrote:

Holy crap!  They gave me a CL of $10k!  I'm gonna have a sick CU now!  I've been paying cash for everything for the past 2 years.

Wow.  I swear to you guys, I'm not a troll, LOL!

---

Wow what an awesome CL, I guess they did really want you

[lg8302ch]

---

Glen_Livet wrote:

Holy crap!  They gave me a CL of $10k!  I'm gonna have a sick CU now!  I've been paying cash for everything for the past 2 years.

Wow.  I swear to you guys, I'm not a troll, LOL!

---

Congrats Glen ! This is a really nice CL! 

[09Lexie]

Wow! Congrats!

[Gunnar419]

Yeah, to get an initial CL like that from Discover is AAAA-mazing!

I know they seem to have loosened their normally conservative selves up for the It card. But that's still a whomping big CL for them!

Congrats for sure.

[JonStur]

Guess its safe to say you are officially on the grid now!!!!

[Glen_Livet]

Ha ha... very much ON.

Thanks everyone.

Had another follow-up question... I never thought of this before, but I saw someone else asking about your first purchase on a new card.  I was thinking about buying an airline ticket to inaugurate this thing.  I’m going to Europe this summer with some buddies so the ticket would be about $1,000 or 10% of the CL.  Is this a good idea or a bad idea?  Or, does it not make any difference.  It’s not a cash flow issue.  I could easily just dip into my savings account.

Or, might I also consider opening an airline card when I purchase the ticket.  This would be my 5th or 6th hard inquiry in the past 2 years.