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So SM approved me for the Barclay card.. Few questions inside.

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Anonymous
Not applicable

So SM approved me for the Barclay card.. Few questions inside.

First off thanks guys for the help and walk thru on which card to go with. They approved me for 10k right off the bat. Im assuming that is good, since this is my first card. Anyway, Here are my questions...

 

1. This is my first CC. I will only have this one card. What is the best way to pay it? Zero it out monthly? Carry $5.00 a month?

 

2. How can I set up the rewards to come off monthly, check at the end of the year etc?

 

3. How do rewards show / where can I find them?

 

 

Message 1 of 29
28 REPLIES 28
JediNeo
Frequent Contributor

Re: So SM approved me for the Barclay card.. Few questions inside.

Congrats on your approval. Great limit for your first card.

 

1. I'd let no more than 10% report then PIF

 

2. If I recall in order to cash rewards for statement credit it's needs to be a min of $25. Which doors not count towards min payment required.

 

3. You can check your rewards balance thru the app or website.

NFCU Cash Rewards | CSP | Freedom Unlimited | WalMart MC | Target Red MC | Citi Costco | AMEX BCE
Message 2 of 29
Anonymous
Not applicable

Re: So SM approved me for the Barclay card.. Few questions inside.

From reading around I see that it reports at a certain date. How can I find out which date its reported so I can then pay it off?

Message 3 of 29
TheFate
Established Contributor

Re: So SM approved me for the Barclay card.. Few questions inside.

Do you know what your credit profile looks like? Thats a really great starting limit!

 

I would PIF each month but let 1-9% report on each statement

 

 

Message 4 of 29
Anonymous
Not applicable

Re: So SM approved me for the Barclay card.. Few questions inside.

I do not. Long story short. whe I bought my truck April 2013, they ran my credit. It came back 805. Great. I haven't checked it in a year+, then I checked it this weekend on Credit Karma to find it was 688.. Immediately I flipped out, ashamed etc etc. I did so good for years to keep it high to find it was low...

 

I had a few accounts opened but never used them, and they closed. Assuming that is what dropped my score. So now, Im going to use a CC religiously for fuel and grocery's.

 

 

 

How can I find out what the report date is, so then  I can PIF immediately afterwards?

Message 5 of 29
Closingracer99
Valued Contributor

Re: So SM approved me for the Barclay card.. Few questions inside.

CK is a joke for Credit scores... My discover posted a 725 FICO TU score for me on July 27th and Credit Karma's FAKO TU score shows me at like 665 or something. I only use CK for credit mointoring so  I can see whenever i get a Inq and to see how many I do have on my TU 


My Cards: Amex BCE: $9,000, Amex Hilton HHonors: $2,000, Amex ED: $12,000, Barclays NFL extra points: $3,000, Bank of America MLB cash rewards: $17,000, BBVA compass NBA Amex triple double rewards: $17,000, Chase Amazon: $1,000, Chase Freedom: $9,000, Chase Sapphire: $5,000, Chase Slate: $5,000, Chase Disney: $4,000, Citi Double Cash: $5,400, Citi AA plat: $5,500, Citi Simplicity: $3,000, Citi Thank you preferred: $8,800, Capital one GM: $2,000, Capital one PlayStation: $3,000, Gamestop: $1,150, Amazon Store: $5,000, Ebay MasterCard: $5,000, American Eagle Storecard: $750, Macy's: $500
EX: 744, TU:750, EQ: 740
Message 6 of 29
Closingracer99
Valued Contributor

Re: So SM approved me for the Barclay card.. Few questions inside.


@Anonymous wrote:

I do not. Long story short. whe I bought my truck April 2013, they ran my credit. It came back 805. Great. I haven't checked it in a year+, then I checked it this weekend on Credit Karma to find it was 688.. Immediately I flipped out, ashamed etc etc. I did so good for years to keep it high to find it was low...

 

I had a few accounts opened but never used them, and they closed. Assuming that is what dropped my score. So now, Im going to use a CC religiously for fuel and grocery's.

 

 

 

How can I find out what the report date is, so then  I can PIF immediately afterwards?


Most banks will report your Balance usually whenever your statement is cut but some might do it whenever they want to like when you PIF your balance , end of the calander month or whenever they feel like to.   


My Cards: Amex BCE: $9,000, Amex Hilton HHonors: $2,000, Amex ED: $12,000, Barclays NFL extra points: $3,000, Bank of America MLB cash rewards: $17,000, BBVA compass NBA Amex triple double rewards: $17,000, Chase Amazon: $1,000, Chase Freedom: $9,000, Chase Sapphire: $5,000, Chase Slate: $5,000, Chase Disney: $4,000, Citi Double Cash: $5,400, Citi AA plat: $5,500, Citi Simplicity: $3,000, Citi Thank you preferred: $8,800, Capital one GM: $2,000, Capital one PlayStation: $3,000, Gamestop: $1,150, Amazon Store: $5,000, Ebay MasterCard: $5,000, American Eagle Storecard: $750, Macy's: $500
EX: 744, TU:750, EQ: 740
Message 7 of 29
Anonymous
Not applicable

Re: So SM approved me for the Barclay card.. Few questions inside.

Damn haha. I guess I'll have to see then. Thanks!

Message 8 of 29
Anonymous
Not applicable

Re: So SM approved me for the Barclay card.. Few questions inside.

How do you guys know exactly when the CC reports? Does it show somewhere?

Message 9 of 29
Ghoshida
Valued Contributor

Re: So SM approved me for the Barclay card.. Few questions inside.


@Anonymous wrote:

First off thanks guys for the help and walk thru on which card to go with. They approved me for 10k right off the bat. Im assuming that is good, since this is my first card. Anyway, Here are my questions...

 

1. This is my first CC. I will only have this one card. What is the best way to pay it? Zero it out monthly? Carry $5.00 a month?

 

2. How can I set up the rewards to come off monthly, check at the end of the year etc?

 

3. How do rewards show / where can I find them?

 

 


Congratulations on getting the SMMC. It is a fantastic card if used well. I use it religiously for groceries, Amazon, other bookstores, and gas. I've got about $140 in cash back in the past seven months of my account being open.

 

1. Do not zero it out before the statement is cut. Keep between 1% and 9% ideally. My case, credit bureaus are reported on my statement date. 

2. As far as I know, there is no automatic way to transfer rewards. You have to redeem them manually. You can either get a statement credit, sallie mae loan repayment, or upromise transfer (and then in turn transfer to sallie mae savings account). Statement credit is most hassle-free, upromise transfer gives you 10% bonus on the cash back at year-end but involves work.

3. Best part about SMMC: Alongside every posted transaction, they show the reward points. 1 point = $0.01 in cash. You can start redeeming as soon as you hit 2500 points, no pre-set redemption value is required. That is, if you have 2795 points, you can either redeem $25, $27.95, or any number in between.

 

Have fun with the SMMC.

Message 10 of 29
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