11-13-2012 07:01 PM
11-13-2012 07:16 PM
11-13-2012 09:48 PM
When I get a new card in, I wait a few weeks before I use it so I don't look desperate....lol But today I just got in my freedom card and am going to use it asap to earn the 100.00 cash back.
I'm just wondering who else strategically plans when to use their card the first time
when i recently got my newBofA Americard Cash Rewards card, i used it later that same day ( i wanted to start the $500in purchases right away to earn the $100 cash back)
with my other cards that didn't have a $pend to get a bonu$ offer, i used them sometime within the 1st week or 2 (that was about 4 years ago)
11-14-2012 05:40 AM
11-14-2012 06:32 AM - edited 11-14-2012 06:35 AM
As soon as possible .
I apply for any new card for a specific reason (OK my future USAA one likely excepted) and it's worth moving whatever piece of my financial life that is destined for that card over to it immediately.
I honestly don't think lenders care at all; they have already extended credit, they absolutely want you to use it, and likely even before you receive the card where possible if Amex is any indication for the rest of be industry as another poster intimated too.
11-14-2012 06:44 AM
I am going to wait until tomorrow to use my new freedom card..gonna pay a couple bills so I can start getting credit towards the 500.00 to get 100.00 cash back....that is for any charge right?
Yes, that is for any charge except BT and cash advances.
@ the OP, I used it first week to get my sign-on bonus and PIF before statement cut. Right when the statement cut, I got my bonus on my Freedom card.
11-14-2012 08:42 AM
I usually put a Starbucks on it the same day...or the next. lol.
Sometimes I wait...and others I have rarely get used.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.