Quick question about credit cards

Charles Ramos7 said:What exactly makes you an "excellent" client? Just having a steady paycheck for three months isn't exactly a high bar.

I’ve been receiving a regular salary for three years now, and starting next year, it'll be north of $5,000 a month. Plus, my balance rarely dips into the red. Given that, I'd say I'm an excellent client—though perhaps I was being a bit dramatic with my choice of words.

Honestly, I wouldn't count on hitting that limit just yet... my mom actually has a $1000 $11 credit limit, but that takes years of building up a history. You can't exactly become a "top-tier" client overnight; it’s about more than just how much you make.

I intend to stay persistent; I don't see any other option...
🤷

Maybe give it a shot and apply for an American Express or a Diners Club card? From what I know, Amex doesn't really have a set spending limit, they're accepted basically everywhere, and you can even split your purchases into installments.

darkmaker94 said:Maybe give it a shot and apply for an American Express or a Diners Club card? From what I know, Amex doesn't really have a set spending limit, they're accepted basically everywhere, and you can even split your purchases into installments.

I'm keeping my options open; I never said it had to be a Mastercard.

I am just looking for a way to clear $15,000. Whether it's through a Visa, Diners Club, Mastercard American Express, or a Xingbao card makes no difference to me. 🙂

I am simply seeking advice on which path is best.

You could always try applying for all of them at once, but my advice is to get moving on this as soon as possible.

By the way, if you manage to snag a revolving card, you’ll likely see a higher limit. If I remember correctly, an American Express starts out with at least $3833 right off the bat.

Alternatively, you could just grab two different cards, like a Mastercard + American Express 😉
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For instance, you could have an $3.75 limit on the American Express plus whatever amount you need on the Mastercard, and call it a day. ☕

You'll snag a Dunkin' card with that salary no problem; they take it basically everywhere, plus you can pay in installments—they even added consumer credit options for up to 60 months recently. Just check their website; looks like you can even apply for the card online.

Sure, I’ll go with the Visa and the American Express (Diners Club).

Amex or Diners? 🤷

I’m not sure if I missed the boat, but American Express is running a promotion through June 30th where they waive the initiation fee and the first year's annual fee. If you can get it for free, it’s probably worth grabbing 😉

Back when I applied for both American Express and Diners at once, I got approved for both right away. But while my limit on the American Express card was decent, the one from Diners was honestly a joke. It feels like Diners is much stricter with their credit limits, and I highly doubt a beginner could actually hit those high spending targets someone mentioned earlier.

Alright, I am filling out my application for Visa!

Thanks!

I've got about $1.25 in my paycheck (gross). Any suggestions on where I should go to open a checking account—which bank would you recommend?

Thanks

It's easiest just to handle everything through wherever you get your paycheck.

Hey there,

First off, sorry for starting a new thread—not really sure if this is the right spot for these questions. I’m looking to get a Mastercard through my current bank. Since my checking account doesn't allow overdrafts, I figured a credit card is the way to go.

A few questions:

1. How long does it usually take from the moment they approve the Mastercard until I can actually start spending the money?

2. How does the whole thing work? For example, if I charge something—let's say $1000—and I have that grace period where they don't charge interest for about 50 days... does that mean if I pay off the full balance within those 50 days, I won't owe a cent in interest?
Also, what happens if I only pay back $1,000 of that $3,000 and leave $2,000 sitting there?

Can anyone help me out with this??

1. About two weeks
2. I’m not sure how you’re getting 50 days out of this 🤔. With a credit card, you get a statement once a month and have to pay it off by the due date. I can't speak for Mastercard or your specific bank, but if you don't settle the bill in full, you're looking at warning notices, interest penalties, or even collections...🤷 Unless, of course, you're using a revolving line of credit.

Free advice: stop making things harder than they need to be—just try to live within your means!

Man, what a mess........

I need to track things down..... Does anyone know if those bills sent via USPS actually show up often? I'm asking because I have a massive headache dealing with the mail lately—stuff constantly gets lost or stolen right out of the box... Also, if I pay off a credit card balance early through my Chase app, will they still bother sending a paper statement to my house via the mail??

I’ve had my mail fail to show up before, but honestly, I rarely even check physical statements anymore since everything is online anyway. They usually just arrive once a month. It's a bit tricky how you're supposed to pay ahead of time when you aren't even sure what the final total is going to be 🤔 I figure you'll at least get a breakdown of the charges sent over every month.

Quick question here:

I’m currently on a two-month temporary contract at my job, so I’m honestly not sure if or when I’ll be transitioned to a permanent position.

I have a unit-linked life insurance policy (one of those fund-based ones), which I know can sometimes act as collateral for a loan. I’m looking to pull about 10 $0.00 in cash to pick up some appliances, home improvement supplies, and other stuff for my apartment.

Instead of just dropping all that cash at once, I’d much rather spread the cost out using as many interest-free installments as possible. If I absolutely had to, I’d consider a revolving line of credit, but I’d really prefer to avoid that. My plan was to put that money into a savings account or CD, then use that—and potentially my insurance policy if it helps bump up my limit—to get a credit card and pay for everything that way.

That’s how I’ve been visualizing it, but truth be told, I’ve never actually used a credit card in my life. So, I’m wondering if this strategy is even doable? And if it is, does anyone have a specific card recommendation or a particular bank they’d suggest? (I’m currently banking with ZARA).

Thanks a bunch. 🙂

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EDIT: Also—not sure if this matters to the overall plan, but I should mention: I’ve had an authorized overdraft at ZARA for a few years now. It was based on the family pension I’ve been receiving while being a full-time student, and for the last two years, I’ve basically lived within that overdraft limit. I’m a little worried if ZARA (or even another bank) might deny my credit card application because of that history, so I figured I’d throw it out there.

Even though they aren't really pushing it, Chase is running a promotion on their Mastercard where they waive the application and annual fees for the first year, just in case anyone could use it.

I’m looking to pick up a credit card—either a Mastercard or a Visa charge card—but I’m currently unemployed since I'm still a student. Can anyone confirm if it's actually possible to get one from a bank just by using a CD as collateral?
I'm mainly looking at Chase or JPMorgan Chase. I tried emailing the first one, but their response was super vague. 🙄

Basically, I'd be looking to put something like 4-$1667 into a 2-year CD, and I want to know if I can secure one of those two cards with a limit matching that amount (or maybe a bit less).
If anyone here actually has a card set up this way, I'd love to know which bank and which card you're using. 🙂

darkmaker94 said:I’m looking to pick up a credit card—either a Mastercard or a Visa charge card—but I’m currently unemployed since I'm still a student. Can anyone confirm if it's actually possible to get one from a bank just by using a CD as collateral?
I'm mainly looking at Chase or JPMorgan Chase. I tried emailing the first one, but their response was super vague. 🙄

Basically, I'd be looking to put something like 4-$1667 into a 2-year CD, and I want to know if I can secure one of those two cards with a limit matching that amount (or maybe a bit less).
If anyone here actually has a card set up this way, I'd love to know which bank and which card you're using. 🙂

I have a Chase Mastercard (even though they offered me any card they had), but I don't think it's an automatic thing where you just open a CD and the card pops out—at least not at Chase. It seems more about your track record. I kept about $2,000–$3,000 sitting in my checking account for a couple of years without locking it away, and based on that history, they reached out and offered me a card.