@myjourney wrote:
@iNathanDrake wrote:Thank you for the quick answers, I generally pay for my groceries, gas, etc with my debit card when I had the funds available. IF not i'll plan out what I need, charge it on one of my cards, and when I get my pay check, pay it off immediately. I don't know how bad or good that is? I guess I just feel, if I can pay for it, don't use someone else's money. Is that a bad mind set? Thanks!
The AF wasn't the biggest issue, so much that I wanted to keep my credit cards from bigger better known creditors. I'd rather see Chase then Credit One, I'd rather see Capital One, than seeing Milestone. I don't mean it to sound pretentious or anything, just personal preference. And as far as annual fee's, I don't know much about making use of your credit card benefits outside of just putting it towards balance payment. So I don't know how I feel about paying annual fee's and not taking advantage of what I'm paying for, because of this reason I tend to stick to No AF cards.
I am going to call Amex's Line increase line during my lunch break to explore the options the rep had suggested. Will post here to update within 2 hours!
Stop
Ignore the CSR and what they told you about a CLI =HP
I'll edit this post in a minute with more info
And stop using that debit card today Lol
Edit to add
Start using your BCE for gas and groceries that's what the card is designed for and no more debit card unless you need some cash
Change your mindset of using someone else's money this is what you want to do
Be rewarded for the use of a free loan in this cards sake 3% and pay off monthly in full
Just be sure not to over spend.....spend as normal that's it
Now I see nothing wrong with the limit they started you with and in fact it's in line with your others limits not counting BB which is a store card
Are you aware that in 61 days you can request a SP CLI on the card and if approved it then become your largest limit of all cards?
You haven't proven yourself with big banks yet and so don't expect large limits but if you manage Cap1, Chase and Amex good for a year the doors will open
I have to now grade you for your research on the product before you applied D-
All hope is not lost if you keep your emotions out of the equation and except the makeup paper due in 62 days
Haha, alright I'll give it a shot and try not using my debit card. So as an example, since you said to pay it off in full monthly. I get paid weekly, and generally like to make my payment at the end of that week. Is that bad? Is it better to allow the month to add up and just pay it at the end of the month? And if so, does that mean I should just let all of my money sit in my bank account until its payment time?
Definitely keep it open. Even if you eventually sock drawer it for something else that better meets your rewards needs. That will be one extra line open added to your average age of accounts, which will help you score in the future.
I applies for the BCE and got an initial 1k limit also. Because amex only does a SP for CLI you can increase up to 3x after 61 days. Then you can increase again after 6 months. Mine's up to 15k, and could be increased again. I just haven't been bothered to do it yet.
For some general advice, you may want to re-read the items that make up your credit score. Closing cards (even perceived "bad" cards can hurt your AOA.
And good luck with your credit adventure!
AMEX BCE $15k // IHG Rewards $5900 // USAA MC $3000 // AF BANK $1000
@iNathanDrake wrote:
@myjourney wrote:
@iNathanDrake wrote:Thank you for the quick answers, I generally pay for my groceries, gas, etc with my debit card when I had the funds available. IF not i'll plan out what I need, charge it on one of my cards, and when I get my pay check, pay it off immediately. I don't know how bad or good that is? I guess I just feel, if I can pay for it, don't use someone else's money. Is that a bad mind set? Thanks!
The AF wasn't the biggest issue, so much that I wanted to keep my credit cards from bigger better known creditors. I'd rather see Chase then Credit One, I'd rather see Capital One, than seeing Milestone. I don't mean it to sound pretentious or anything, just personal preference. And as far as annual fee's, I don't know much about making use of your credit card benefits outside of just putting it towards balance payment. So I don't know how I feel about paying annual fee's and not taking advantage of what I'm paying for, because of this reason I tend to stick to No AF cards.
I am going to call Amex's Line increase line during my lunch break to explore the options the rep had suggested. Will post here to update within 2 hours!
Stop
Ignore the CSR and what they told you about a CLI =HP
I'll edit this post in a minute with more info
And stop using that debit card today Lol
Edit to add
Start using your BCE for gas and groceries that's what the card is designed for and no more debit card unless you need some cash
Change your mindset of using someone else's money this is what you want to do
Be rewarded for the use of a free loan in this cards sake 3% and pay off monthly in full
Just be sure not to over spend.....spend as normal that's it
Now I see nothing wrong with the limit they started you with and in fact it's in line with your others limits not counting BB which is a store card
Are you aware that in 61 days you can request a SP CLI on the card and if approved it then become your largest limit of all cards?
You haven't proven yourself with big banks yet and so don't expect large limits but if you manage Cap1, Chase and Amex good for a year the doors will open
I have to now grade you for your research on the product before you applied D-
All hope is not lost if you keep your emotions out of the equation and except the makeup paper due in 62 days
Haha, alright I'll give it a shot and try not using my debit card. So as an example, since you said to pay it off in full monthly. I get paid weekly, and generally like to make my payment at the end of that week. Is that bad? Is it better to allow the month to add up and just pay it at the end of the month? And if so, does that mean I should just let all of my money sit in my bank account until its payment time?
I have a friend who gets paid weekly on Fridays and he pays off his cards every sunday night. Just one way of keeping up with the spending. Definitely no more debit card,as the other poster said. The more love you give to your cards, the more love you get back. After all any lender would like to see usage on their product. One more reason to keep the BCE open; down the road, if you apply for a better / higher end card from Amex, they will value your history with them just as much as your credit report if not more. So it is always good to have a foot in the door with them as it can easily lead you to better products sooner than you can think of. As for the CLI, use it for 61 days and ask for cli for $3K.
@iNathanDrake wrote:Thank you for the quick answers, I generally pay for my groceries, gas, etc with my debit card when I had the funds available. IF not i'll plan out what I need, charge it on one of my cards, and when I get my pay check, pay it off immediately. I don't know how bad or good that is? I guess I just feel, if I can pay for it, don't use someone else's money. Is that a bad mind set? Thanks!
One other thought, You can use a credit card like a debit card in the sense that if you spend 30 buck on gas, charge it to the amex. Then go pay it off with the cash. That way you get the amex cash back rewards. The downside to this is if you're not disciplined with your money, you could end up spending more than you can afford. Just depends on your spending and tracking habits.
@iNathanDrake wrote:
@myjourney wrote:
@iNathanDrake wrote:Thank you for the quick answers, I generally pay for my groceries, gas, etc with my debit card when I had the funds available. IF not i'll plan out what I need, charge it on one of my cards, and when I get my pay check, pay it off immediately. I don't know how bad or good that is? I guess I just feel, if I can pay for it, don't use someone else's money. Is that a bad mind set? Thanks!
The AF wasn't the biggest issue, so much that I wanted to keep my credit cards from bigger better known creditors. I'd rather see Chase then Credit One, I'd rather see Capital One, than seeing Milestone. I don't mean it to sound pretentious or anything, just personal preference. And as far as annual fee's, I don't know much about making use of your credit card benefits outside of just putting it towards balance payment. So I don't know how I feel about paying annual fee's and not taking advantage of what I'm paying for, because of this reason I tend to stick to No AF cards.
I am going to call Amex's Line increase line during my lunch break to explore the options the rep had suggested. Will post here to update within 2 hours!
Stop
Ignore the CSR and what they told you about a CLI =HP
I'll edit this post in a minute with more info
And stop using that debit card today Lol
Edit to add
Start using your BCE for gas and groceries that's what the card is designed for and no more debit card unless you need some cash
Change your mindset of using someone else's money this is what you want to do
Be rewarded for the use of a free loan in this cards sake 3% and pay off monthly in full
Just be sure not to over spend.....spend as normal that's it
Now I see nothing wrong with the limit they started you with and in fact it's in line with your others limits not counting BB which is a store card
Are you aware that in 61 days you can request a SP CLI on the card and if approved it then become your largest limit of all cards?
You haven't proven yourself with big banks yet and so don't expect large limits but if you manage Cap1, Chase and Amex good for a year the doors will open
I have to now grade you for your research on the product before you applied D-
All hope is not lost if you keep your emotions out of the equation and except the makeup paper due in 62 days
Haha, alright I'll give it a shot and try not using my debit card. So as an example, since you said to pay it off in full monthly. I get paid weekly, and generally like to make my payment at the end of that week. Is that bad? No this is not bad at all
If this is how you're comfortable paying your bills then by all means continue to do it this way
Is it better to allow the month to add up and just pay it at the end of the month? Optional but I think you mentioned carrying balances on other cards so treat this card as a debit card and pay it off ........or pay off all others and since this has a $0% period use the free money but DO NO GO INTO DEEP DEBT...have a plan
And if so, does that mean I should just let all of my money sit in my bank account until its payment time? If you have a interest bearing account why not let the money sit but again it all depends on what process you feel comfortable with as to when you pay your bills off
Some of us pay monthly others weeky, every 5 days,10 days......whatever works for you.
All4One wrote:For some general advice, you may want to re-read the items that make up your credit score. Closing cards (even perceived "bad" cards can hurt your AOA.
And good luck with your credit adventure!
What does AOA stand for? Sorry I'm not familiar with it. And I appreciate the advice. I intend to keep it open and work my way up with it. I won't apply for anymore more cards I consider "bad" either so I'll be sure to not hurt my score in that aspect anymore. 
I suggest STOP coming on here if you want to keep it at 2 - 3 cards LOL. Anyway welcome!!
