credit card

[Roserick 0]

I have capital one credit card in my name.. But it is in my fiance's account.

Everytime I have a purchase it will go right away to his account, and he's the one who pay for it too

It does work very good for us ... They don't charge international that's why we are using it here in PI and in country that we visited and not our Debit cards coz our bank charged us service fee and international service fee.

So for me, capital one is good when you are out in USA.

I don't know so much about credit cards yet,, but I think the best thing how to use it, is pay the full amount you purchased on the due date..

Ex. You bought cellphone worth $400 April 30 then ex the due date is May 30 ... then pay it on May 30 but better before, like 3 days before.. .

That's how we used our credit card and it works fine... no charge, no international fee.. etc.. How much u purchased, is how much u will pay...

(This is my case only, i don't know others..)

Kind of like AMEX..

[tallcoolone 102]

Just tried an online application for a credit card thru CAPITAL ONE...just got approve right away. If your planning to have one just try this one. Good luck. They just need your SSN and personal info. GOODLUCK.

When you apply for a credit card and you have a credit score, Your credit score takes a hit from an application.

[Roserick 0]

When you apply for a credit card and you have a credit score, Your credit score takes a hit from an application.

Yup Agree with you.. Specially does denials..

Correct me if I'm wrong.. Each time they check your credit they minus 1 score to your credit score..

Is that right?

[tallcoolone 102]

P.S so what is the best credit card? for newbie in USA coz for sure I will get one to establish credit for myself...

I don't think there is such thing as a best credit card. In the end they are all basically the same.

Bank of America was/is issuing credit cards to illegal aliens (with no Social Security Number) in USA. They may be easy to get a credit card from.

It's always better to pay cash for anything you buy, Credit cards can get you in trouble in a quick way, by helping you build up a debt situation.

I rarely to seldom use a credit card.

You need to have discipline if you plan on using credit cards, and don't get yourself in debt with them.

In America they say financial stress is a leading cause of divorce.

Edited May 8, 2008 by tallcoolone

[tallcoolone 102]

When you apply for a credit card and you have a credit score, Your credit score takes a hit from an application.

Yup Agree with you.. Specially does denials..

Correct me if I'm wrong.. Each time they check your credit they minus 1 score to your credit score..

Is that right?

I don't know the amount they deduct if when they check your credit score.

[Roserick 0]

It's always better to pay cash for anything you buy, Credit cards can get you in trouble in a quick way, by helping you build up a debt situation.

I rarely to seldom use a credit card.

You need to have discipline if you plan on using credit cards, and don't get yourself in debt with them.

In America they say financial stress is a leading cause of divorce.

I don't know if you feel or see it.. It seems like the govt is trying to make this country a cash less society..

In a lot of TV advertisement I had been seeing commercials trying to down the way of paying cash..

With all this Paypass thing going on, Paying through your cell phone, paying bills online, etc..

[tallcoolone 102]

I don't know if you feel or see it.. It seems like the govt is trying to make this country a cash less society..

In a lot of TV advertisement I had been seeing commercials trying to down the way of paying cash..

I think it done for convience purposes and as advertisement.

It's easy to pay with plastic, and it is good for the credit card company as well.

Once you get a balance and they start charging anywhere from 9% to 23% per month on you credit card, thats when the credit card companies start filling their bank accounts.

Credit card companies want you to pay the bare minimum each month, They don't like if when you don't carry a balance.

[Roserick 0]

Once you get a balance and they start charging anywhere from 9% to 23% per month on you credit card, thats when the credit card companies start filling their bank accounts.

Credit card companies want you to pay the bare minimum each month, They don't like if when you don't carry a balance.

Hahahahaha.. Thank God I'm done with different types of Credit Cards.... I have just settled with my AMEX Blue Card..

I get some mileage and reward points on my purchase.. That's all I need!!

Learned my lesson started from that Columbia House DVD and CD scam...

Thanks for the advice tallcoolone!!

And your right, being not discipline for using a credit card can lead to alot of stress and divorce...

[N360 0]

Capital One does report our account information they just do not report what your limit is only what your high balance is. I added my husband as an authorized user to an account i have a few years ago and that account actually appeared on the credit report we ran last week. They did give him his own card about a week after he arrived in the U.S with a low limit but it did make it much easier and he now has some regular cards with high limits.

Good luck!

For the sake of simplicity... lets say your credit limit is $1000. But your "high balance" is only $200 and your current balance is $150.

That high balance is being reported as your "credit Limit". This is not good because your credit report is indicating that you are using 75% of your credit limit when in actuality you're only using 15%. This is not good for credit rating.

As far as I know, Capital One is the only one that does it this way and I dont know why.

Edited May 8, 2008 by NoelandTintin

[N360 0]

I have capital one credit card in my name.. But it is in my fiance's account.

Everytime I have a purchase it will go right away to his account, and he's the one who pay for it too

Good deal! Sounds like you're already married.

[N360 0]

P.S so what is the best credit card? for newbie in USA coz for sure I will get one to establish credit for myself...

Unfortunately for newbie, there's not a lot of good option because your credit is not established yet. Most of the cards that will approve a newbie will have a high interest rate. But I think its ok as long as you know this and try to pay off the full balance every month.

One bank that I know approves newbies is orchard bank. http://www.orchardbank.com. Their interest rate is a little high but like I said, you're a newbie. You can use it until you can establish credit. Once your credit is establish, you can close this and try for a regular visa/mastercard or better yet, American Express.

American Express is picky, once you have one, you know your credit is now establish. Good luck Primie.

[Roserick 0]

Capital One does report our account information they just do not report what your limit is only what your high balance is. I added my husband as an authorized user to an account i have a few years ago and that account actually appeared on the credit report we ran last week. They did give him his own card about a week after he arrived in the U.S with a low limit but it did make it much easier and he now has some regular cards with high limits.

Good luck!

For the sake of simplicity... lets say your credit limit is $1000. But your "high balance" is only $200 and your current balance is $150.

That high balance is being reported as your "credit Limit". This is not good because your credit report is indicating that you are using 75% of your credit limit when in actuality you're only using 15%. This is not good for credit rating.

As far as I know, Capital One is the only one that does it this way and I dont know why.

What's in your wallet? Hehehehhehehe..

Yupzz.. Totally agree with you with AMEX... AMEX is the best card out there.. It will fight for you!!

[N360 0]

What's in your wallet? Hehehehhehehe..

Yupzz.. Totally agree with you with AMEX... AMEX is the best card out there.. It will fight for you!!

Not Capital One. LOL

[RonMay 1]

for me credit card is not a must if you have a bunch of cash to purchase a house, car etc... but if you're money is just enough, then a good credit card (to establish a good credit score) is a way to get a loan for a house, car etc in the future... i have an american express but it doesnt mean im out there spending whatever... its solely just for grocery (food)... just so we keep it rolling and active... my husband thinks its my way of building my future in case something (unforseen) happen... coz he said here in america you need to have a credit card/good credit score if you're not rich (per se lol) to make a big loan like a house etc...

Edited May 8, 2008 by RonMay

[Roserick 0]

for me credit card is not a must if you have a bunch of cash to purchase a house, car etc... but if you're money is just enough, then a good credit card (to establish a good credit score) is a way to get a loan for a house, car etc in the future... i have an american express but it doesnt mean im out there spending whatever... its solely just for grocery (food)... just so we keep it rolling and active... my husband thinks its my way of building my future in case something (unforseen) happen... coz he said here in america you need to have a credit card/good credit score if you're not rich (per se lol) to make a big loan like a house etc...

WoW!! Good Way of American thinking...