Planning to request recon/seeking advice...

[creditwherecreditisdue]

You do have to develop your credit. So yes, it takes a history of positive credit experience to obtain more credit at better terms -- which is what you want!

[smallfry]

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@Anonymous wrote:

Okay, this is embarrasing, but the truth is I was so excited that the guy was offering me a card, I didn't ask...

I presume he would have approved me for the "Standard" terms as opposed to the "Elite". I will be using the card infrequently (about once a month) and paying off the balance immediately, so I don't plan to pay any interest charges.

The whole idea behind getting this card is to use it to build my credit so I can purchase a home next year.The reason I've never had a cc is that I've never needed or wanted one. I actually don't believe in buying things I don't already have the cash to purchase (excepting a home). I've only gotten a credit card now because, apparently, I have to if I ever want to own instead of rent...

Message Edited by JaneKathleen on 09-18-2009 03:57 PM

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It might be a good idea to use the card to pay items that you currently pay directly. Cable phones car insurance things like that. You can go online and pay these charges within a few days if you want but show Chase usage.

[Anonymous]

Hey smallfry. That's been my plan all along. For me, this is all about building credit in order to buy a house.

Thanks to everyone for all the great advice. I really, really, really love MyFico forums  

[Anonymous]

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@Anonymous wrote:

Hey smallfry. That's been my plan all along. For me, this is all about building credit in order to buy a house.

Thanks to everyone for all the great advice. I really, really, really love MyFico forums  

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I am very happy for you for getting the card after initiating a recon.

I might also advise that yo may wish to "flesh out" you credit Portfolio with a few other products:

A store card (Target, Kohls)

An Amex product. (people will advise which one if you are interested)

Another VISA/MC CC

The inquiries will not effect your fico in 12 months, and you should not see a big hit on your AA as you have your student loans.

[Jazzzy]

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@Anonymous wrote:

It's a Chase "Freedom" card. Interest rate seems kinda high to me, but then again, I know *nothing* about credit cards, so...

Here's a link to the pricing and terms, if you're interested in cheacking it out:

https://www.firstusa.com/cgi-bin/webcgi/webserve.cgi?pdn=pt_chase_con_2009_1&card=CLTT&page_type=appterms

I plan to use it once a month or so and pay it off before they can get any interest charges out of me

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Congratulations!

I would add one suggestion. Use your new credit card for the protection it can give you. I would be out $1k without my credit card.

This spring, I bought a Palm in combination with some medical software. The combination worked one day...didn't work the next...then worked, etc. It was terribly frustrating. I kept talking with the company I purchased it through...talked to them long enough for their 30-day money-back guarantee to exprie. I returned it to them anyway...because my research finally showed me that the combination they sold me was problematic for others as well. They aruged with me. They sent it back to me. I refused it. I disputed it on my credit card. My credit card stood behind me and granted the refund.

Next we need to get ready for my daughter's wedding. Bought bridesmaids and flower girl dresses at a bridal shop last May. Put the dresses on my credit card. Dresses to arrive mid-August. Long story short...one hot August night bridal shop closed and cleared everything out in the middle of the night into a UHaul. First thing I did was dispute the charge on my credit card. I got every penny back...even though it had been 90+ days. Those who wrote checks were out of luck and will be mired in bankruptcy proceedings...and they will never get their dresses or their money.

Some cards extend warranties on products, etc. Use those protections.

[Anonymous]

Thanks again for all the awesome suggestions, folks. Lynette, that is not something that had crossed my mind yet, but I know what you're talking about. I will definitely take that into account in the future.