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FINALLY - got first CC in mail and I splurged!!

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Duncanrr
Valued Contributor

FINALLY - got first CC in mail and I splurged!!

I had to splurge when I got my brand new shiny CC in mail today. I mean I had to get my billing started anyways. Should I buy a $1500 dollar computer like I did the last time I dove into the realm of cc spending? ..... Nope, I charged a $15.00 haircut a super cuts. Guess I'm finally maturing financially.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

Take the FICO Fitness Challenge
Message 1 of 14
13 REPLIES 13
RobertEG
Legendary Contributor

Re: FINALLY - got first CC in mail and I splurged!!

Great!

1% util is kinda neat, isnt it?

Message 2 of 14
injustifiiable
Valued Contributor

Re: FINALLY - got first CC in mail and I splurged!!

I bought a $5 footlong at Subway when I got my card....

Scores 5/15/2016 (clean reports!): TU Walmart FICO: 696 | EQ FICO: 679 | EX AMEX FICO: 680

In my new wallet: American Express Green EMV: PSL $2000 | BankAmericard Cash Rewards Visa EMV: $2500 | Citi AAdvantage Platinum Select World MasterCard: $6400 | Barclaycard Arrival World MasterCard: $1000 | Discover IT: $2500 | Amazon Rewards Visa Signature: $1500 | Chase Freedom: $1500 | Capital One QuicksilverOne MasterCard: $2100 | Target: $2800 | J.Crew $21,550 | Marvel (Captain America) MasterCard: $6000
Message 3 of 14
Duncanrr
Valued Contributor

Re: FINALLY - got first CC in mail and I splurged!!

Smiley Wink see we are evolved. We learn that doing something stupid twice isn't the way to go.


Starting Score: EQ 551 TU 548 CK 607on 6/8/12, EX 542(AMEX pull 3/4/12)
Current Score: EQ 808 TU --- EX --- CK 804(FAKO-EX 821, EQ 823, TU 803)
Goal Score: 750

Take the FICO Fitness Challenge
Message 4 of 14
Anonymous
Not applicable

Re: FINALLY - got first CC in mail and I splurged!!

Congrats..I love them when they're all shiny and new Smiley Happy I used my newest (monday) to charge a $20 monthly payment for Sea World annual passes..and that's the ONLY thing it'll ever be used for, so it'll always report a super low balance Smiley Happy

Message 5 of 14
RobertEG
Legendary Contributor

Re: FINALLY - got first CC in mail and I splurged!!

Indiv cards, used properly, can give a double-beneifit. 

FICO scores both overall util and indiv util, so one card can help in the individ acct scoring sub-category.

Also, by getting the balance to $0 at reporting time, it improves your % cards reporting a balance.

Message 6 of 14
Anonymous
Not applicable

Re: FINALLY - got first CC in mail and I splurged!!

Glad to read. A friend of mine just told me his credit card he opened 2 months ago is now reporting over the limit, and the company is closing his card. smh

Message 7 of 14
rckstrscott
Valued Contributor

Re: FINALLY - got first CC in mail and I splurged!!

My current fiance, prior to use dating, got a $500 dollar Chase Freedom card and it was promptly over the limit in 30 days.. haha

 

-scott

Starting FICO Score: October 2010: TU 498 | EQ: 502
Current FICO Scores:: May 2022: TU: 784 | EQ: 770 | EX: 790
Message 8 of 14
Rhaeny
Valued Contributor

Re: FINALLY - got first CC in mail and I splurged!!

I charged $1.75 per day for my morning cup of caffeine at Tim Hortons for one week.  I felt like I had been on a shopping spree Smiley Very Happy.  

 

What maturity and living life in the 500's for a while can do for ya.


Major CC's - Barclay's ($5.5K) | Barclay's Sallie Mae MC ($5K) | DCU ($7.5K) | Discover IT ($1.4K) | Genisys Visa ($1.4K) | NFCU Visa ($22K) | Navcheck ($15K) | Chase Freedom ($5K) | SDFCU Visa ($8K) | Amex BCP ($9.5K) | Amex Delta ($10K) |Store CC's| -Amazon ($4K) | Catherines ($850) | JCP ($4K) | Macy's ($1.7K) | Avenue ($850) | Victoria's Secret ($1.4K) | Walmart ($4.1K) | Paypal SC ($1.3K) | HSN ($2.5) | Sears ($2.6K) | Sams Club ($4.1K) |Goal|: Age with grace to 750 across the board |Last app|: 3/3/2014
Message 9 of 14
Anonymous
Not applicable

Re: FINALLY - got first CC in mail and I splurged!!

I always just max out a new card, go 90% to 95% of CL, but then a few days later it's paid off.

I prefer the new cards to show zero balances with a MAX used almost the full line, the ability to borrow and pay back is IMO way more important than not using CL's.

You max and pay it off for something you were going to buy, you get bonus points if its a good card and in a short time you can double and or quadruple the CL by having maxed it and paid it off.

I know the pack says don't use or use very little, I say, max it and up the CL in a short time and when you apply 6 or 8 months down the road for a new card they see your low CL card is now a high CL card and you have had high balances that were PAID OFF, use if the key to credit, how to build it fast and how to get huge lines at low rates.

 

Message 10 of 14
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