Whats the best way to use my new CC?

[currentlywinning]

LOL! Target is soooo gooooood

[lithium78]

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@currentlywinning wrote:

LOL! Target is soooo gooooood

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The Target Redcard is pretty sweet.  They give you 5% off every purchase plus you get free shipping from target.com.

[dalebb]

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@lithium78 wrote:

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@currentlywinning wrote:

LOL! Target is soooo gooooood

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The Target Redcard is pretty sweet.  They give you 5% off every purchase plus you get free shipping from target.com.

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that is sweet

[Anonymous]

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@currentlywinning wrote:

Thanks for replying! I got the card as a step to help rebuild. Im 30 and have never even had a CC I am excited to get this party started (LOL). My intention is to use the card for gas and gas alone. I will get fancy once Ive figured out all the technicalities of being a CC holder.

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Congrats on the new card,

If I were you I would actually try to get a cash rewards card and use that so you can actually start getting payed by the your CCC . There are many options out there and I would look very carefully at a few factors.

Mainly:

APR - The lower the better . Also, be on the look out for card that are offering promotional APR's.

Rewards Rate/Percentage - Try and locate a card that is "tailored" to your spending habits. For example, many cards offer reward programs with specific Gas Stations other with certain categories and etc.

Capped Rewards - Many credit cards cap their promotion or rewards categories, few don't but they offer a lower rewards redemption's rate. One has to look at the benefit of a lower promotion over a long period of use verses a short and limited spending spree.

Rotating Rewards - Certain cards have promotions based on collective spending habits of their cardholders. For example, promotions for 5% cash back on gas in the from June through August.

Tiered Rewards - Credit card rewards rate that upgrade and or unlock after a certain spending threshold has been reached.

Annual Fee - There are cards out there that have annual fees with good rewards but are usually aimed at avid spender. Most of these cards have superb benefit that would entice individuals to shell out the annual fee.

I hope that I am able to help, I am pretty sure you will find other reviews that are more extensive, as this forum is filled with knowledgeable individuals.

Best of luck

[2NE1]

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@haulingthescoreup wrote:

OK, a huge part of your FICO scores is your "revolving utilization." That means the percentage of your total CL that you owe. They get the figure for what you owe from your monthly statement in nearly every case. Look at your statements, either online or on paper, for the statement date. It might also be called the closing date, or the posting date. It's NOT the due date, but the date that the statement is available to be seen. Even if you then pay it off immediately, that figure has been reported to the credit bureaus.

The way around this is to go online a few days before you expect each statement to drop, and make a payment. Pay one off in full, and pay all but $10-$20 on the other. You'll need to stop using each card several days before THAT, so that all the charges can come in. After you pay, keep checking to see if anything else pops up.

Your scores will actually drop (in most cases) if both report $0. Just a strange little factoid.

Some things to keep in mind: some cards won't let you pay multiple times within a few days. Others stall posting the payments.

Which cards do you have? Rebuilder cards can sometimes be tricky to manage.

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Hmmm... this is all new to me, as I mentioned earlier, I have a CapOne of 500CL (0% APR till Sep '12) and an Orchard of 300CL (14% APR w/ $59 AF) I have been using my CapOne the most and the balance left rite now is about $293. Since it's a new card, there isn't a set "minimum payment date" on it yet. I have already paid $32 towards it and have scheduled to pay $65 this Friday. So far it has been letting me make payments.

[2NE1]

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@lithium78 wrote:

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@currentlywinning wrote:

LOL! Target is soooo gooooood

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The Target Redcard is pretty sweet.  They give you 5% off every purchase plus you get free shipping from target.com.

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I deff want to apply for their Debit Redcard since I prob wouldn't be approved for their store card yet. I would get 15% off since I have a family member that works there, I get 10% off my purchases!

[dalebb]

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@2NE1 wrote:

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@lithium78 wrote:

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@currentlywinning wrote:

LOL! Target is soooo gooooood

---

The Target Redcard is pretty sweet.  They give you 5% off every purchase plus you get free shipping from target.com.

---

I deff want to apply for their Debit Redcard since I prob wouldn't be approved for their store card yet. I would get 15% off since I have a family member that works there, I get 10% off my purchases!

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15% off,, u cant beat that with a stick

[CS800]

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@currentlywinning wrote:

LOL! Target is soooo gooooood

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So true !!