basically you can get a credit card w/ no annual fee and only cashback:
"discover It: secured card"
source:


personally i never opened a credit card because I thought they were scams, but if you use one responsibly, you build a credit score that helps you get lower interests on loans and approved for better housing. I'm opening a credit card now. I was scared to because I heard of so many horror stories of people just ruining their financial lives by making stupid decisions.

the benefit for brokecels (me) is that if you use a credit card to buy essentials, you build credit history and then credit card companies will give you rewards with free travel.

lmao wat

maxx all credit cards & 30k unsecured loan

moved banks keep getting calls from debt collectors lol

40k+ free money thanks bankers

chase sapphire crew

preferred or reserve?

just lol if you're on dat csp poverty time

Easy

-Make all payments on time
-Open a couple of secured cards and keep monthly utilization under 10%
-Avoid hard inquiries, and if someone is going to run a credit check on you, ask for a soft inquiry
-If you have any delinquencies on your report, pay them off. Negotiate the price down with the debt collector and have them say in writing that it's paid off in full

lol at credditcardcels

cash masterrace crew

Graham used to be good. But now it’s just the same recycled stuff. Props to him for finding a niche with morons constantly watching and taking zero action.

I realized that Experion / big 3 update your score around the same time each month, so I try and have cards paid off at that time to reflect low credit utilization.

i wasn't that wrong tbh.
I get a credit card offer every month from capital one and discover and they probs have annual fees, whereas there are credit cards that do not have annual fees
lmao nice
I googled it and the annual fee is $95 but also "fee waiver" is a google search term.
quick pros of the card?
(i'm still getting the discover it, just interested in this topic)
graham is a legit millionaire and gives legit advice,
but if you're not ready for a credit card, you're not ready.
most credit card users lose money from unnecessary annual fees from the shekel goblin companies
the 1% cash back isn't the point, it's building a credit history to get better loan interest rates for house mortgages when you decide to become a home owner.
thank you, nice advice man

shieet got preferred

wut

i had a credit card since i was 18, they used to hand them out like candy to any college student at the credit union without a parent cosign. my limit was prob pretty low on the initial card cant remember. all you have to do is not be a retard and pay it off every month. I had credit cards as my only credit history and still had around 750-800 credit score and when i finally had an auto loan it boosted it even more but after a certain point it doesnt matter any more because you are already getting the max lowest rates.

i think now days they want a parent cosigner or some chit.

I use my Citi double cash card to get 2% back on everything, I use it to buy fuel, food ect. I pay it off every week, have made thousands just by buying what I was going to anyway.

That being said it takes discipline to actually pay it off and very few people have that.

nice, miring the 750+ crew
thanks for the automatic payment advice, i'll do that
nice i'll implement your strategy and take it by the week unless the automatic payment option pays itself does it for itself

I pay $100 a year for my card, I average $600 a year cash back. Do that math for me brah do I win or lose?

how do I stop getting the calls without changing my number? They’re starting to get annoying tbh and I don’t want to have to keep my phone in do not disturb mode forever

Solid advice. No real shortcuts - it’s all about length of history, utilization, payment history, and frequency of credit checks. Try working with a credit union for a checking & credit card. Use the credit card for things you know you can pay monthly and just make it a habit. Also, in the beginning of the year you can get a free credit report from the big 3 credit firms. Request it and make sure there aren’t any inaccuracies. If you find something wrong then correct it ASAP.

Buy low sell high

I went from 650 (after divorce) to 805 in 8 months.

The 650 was a result of having no credit cards and no debt. No cards and my house was paid off. Just got a couple of cards and paid them off each month.

Another thing to watch is when FICO checks your credit balances. For me it is on the 12th of each month. However, my cards get paid on the 15th. So I make sure I pay off the cards each month on the 10th to keep my credit use low.