110% !

 

chase and capital one FTL! both are some of my worst experiences. customer service and just tricks they play to jack your interest rate. i mailed a payment 9 days before it was due with priority mail so i know when they received it and they didnt process it for a few days so my interest went up to like 24%.
i got a discover card for a zero balance transfer and 0%apr for 12mo and a wells fargo visa that started at 2000 limit but i have built up to a 6000 limit in 2 years and i as stated above, its very easy to transfer money to the linked accounts.

 

How do you figure? An Amex card is not "worth" more to your credit score. If all cards report to the credit bureaus, no one card will have more or less impact on your credit score (assuming similar usage)....

 

I disagree, consumables are the best thing to charge on your CC. They are items that you HAVE to purchase no matter what (vs. the nice to haves), so why not take advantage of it and charge?

Proper budget management will ensure you don't let your debt overcome your income.

 

I used to pay everything with a Visa, had a Mastercard as a backup (Swiss banks typically give you the second credit card for pittances, and Visa is typically the most well known one over here). However, I now also have an Amex and been using it extensively as I get tons of miles for my Miles and More account (paid about $50k worth of stuff on the Amex just this year alone... it's a Gold and that helps).

But as with everything, make sure you pay on time, even better if you pay off as quickly as you spend, just to make sure you never have anything outstanding on it.

From my travels, I'd say Amex and Visa have been the most helpful, Mastercard hasn't always been accepted in some bizarre locations...

 

Got my first AmEx in college.. been using AmEx for 99% of my purchases every since.

The key is not to use it like a credit card. Use it like a debit card. Do not charge more than you have in your bank account. Do not charge more than you can pay off every month.

 

Very well spoken!!

 

i never understood the whole cc thing. Its good to have and works great for what it does. I love building my credit.

1 thing i never understood is how some people get these outrageous credit limits. I have had a card since 16 I have a score of 760 and have 1 card with a 5500 limit and another for 2500. I dont really use them and maybe thats thwe reason.

I know 3 people who have 10k plus limits with credit scores in the 600 range. doesnt make sense

how do i get the huge limits? use it more? call and ask? secrets?

my 2500 card in 8.9 and the 5500 is 3.9

 

Typically you ask. With my Visa/MasterCard combo from UBS (Swiss bank) back in 99/2000, I got a standard silver card, limit was like 3000chf (just under $3k). When I started travelling a lot and had to pay my expenses on my CC's (company did not provide a CC for me, had to use my own), I asked to get gold with a limit of 10k. I was told it was possible for those with more then 10k on their bank account.

However, the Amex/Visa gold combo I got from Miles and More, only asked how much I make a year, and the limits were set by default to 7k and 4 respectively (seems like they do it for all). To get a higher limit, you just have to use it frequently for a minimum of 6 months and then call to get a higher limit. As simple as that.

So always worth a call if you need the higher limit...

 

Higher limits will help your score, and it helps you keep utilization down. gotxgss2, I guarantee one of the bullets on your credit reports will note that very thing as one reason your score isn't higher.