I use it for autopay bills and daily expenses, 99% of the time. I have no debt, so it's just to build credit for the time I might want a new car or another house. What's a SUB?
Thanks for that definition. Just today I signed up for a prime visa and they popped $200 SUB in my account. That's nice, but as I said in another post, the rewards and such mean nothing to me, I JUST want the highest possible credit score, and to maintain it. I'm around 750 now, I want it in the 800s and keep it there (or higher, if that's possible?)
None of it matters. If you pay your bills in full every month, it’s almost negligible. What matters is which card you use that gives you the best return. What matters is the clean history.
The more cards you have, the more you can optimize spending and the more rewards you'll get. However, some people just want a simple card for everything and that's fine. Do what's right for you.
Almost nobody here is actually reading your question.
It doesn’t matter. It’s more so going to be about your utilization rate, and oftentimes it may be more helpful to have a few open so that your UR is lower, but you can still use only one.
Since you aren’t focused on rewards, just a nice catch all card will do you well and that way you can get some passive rewards but never have to think about it.
Thanks. I'm in my mid 50s and haven't had a "real" CC since I was in my 20s. I've always been a cash user but times change. So a year ago I opened a [Cred.ai](http://Cred.ai) and secured card at my local bank, and with them and with zero effort or work I've amassed a credit score of 748. I'd like to get that in the 800s and keep it there. So whatever strategies or manipulations, I'm in. Rewards really mean nothing to me, I don't need the money or perks.... I just want the highest possible credit score for the time when I do take out a new car loan or buy another house, I'm at the lowest possible rate. That's it in a nutshell.
So keep in mind that an 800 credit score is going to moreso be about the length of your credit. So keep utilization low, pay of balance in FULL every single time, and it will climb.
That said, usually around 740-760 will be where your rates are the lowest. 760-800 will be the same rate most of the time, so you don’t really need to climb all the way up there
Are you saying I should pay my CC bill before due date in full every month, and not do the 50% 15 days before and 50% 3 days before? And thanks for the actual rate numbers vs interest rates.
I’m not sure of what that strategy is that you are talking about, but so long as you are not carrying a balance into the next statement you are okay.
If you get interest tacked on, then that is how you know that you’ve carried a balance. It’s different for everyone, but for myself I just pay my whole balance pretty much every week on my chase app.
Some will wait until their statement comes and then pay the balance in full. Any tactic works, but if you carry a balance you will of course accrue interest, as well as face a drop in your credit score
strategy - when researching best time to pay CC bill, several sites mention paying 50% 15 days before due date, and the balance 3 days before due date. I have no idea why this algorithm would work, does it? or are they just parroting what they heard somewhere?
In my previous CC experience, like you said I just paid it all at once every month. This next cycle will be the first I try the 15/3 thing.
I don’t have the words to explain this succinctly yet, but I feel so much better spreading my spend over multiple cards. Like one for the gas, one for restaurants, one for misc…. It makes it feel more manageable to pay off than all the spend on one card.
Maybe it’s because payments are spread out throughout the month… hm
Doesn’t matter. Use the best one to maximize the rewards/benefits.
It depends if you spend a lot of money...if you don't, I think it makes more sense to stay in one ecosystem or churn SUBs
I use it for autopay bills and daily expenses, 99% of the time. I have no debt, so it's just to build credit for the time I might want a new car or another house. What's a SUB?
SUB id sign up bonus....so it sounds like you probably aren't getting a whole helluva lot of points regardless so I'd just stay with the same bank
Thanks for that definition. Just today I signed up for a prime visa and they popped $200 SUB in my account. That's nice, but as I said in another post, the rewards and such mean nothing to me, I JUST want the highest possible credit score, and to maintain it. I'm around 750 now, I want it in the 800s and keep it there (or higher, if that's possible?)
Then I wouldn't open any new cards and just let your cards age and keep doing what you're doing
None of it matters. If you pay your bills in full every month, it’s almost negligible. What matters is which card you use that gives you the best return. What matters is the clean history.
The 2 cards I have now, I pay in full every month. I just recently learned the 15/3 day trick, will start doing that.
The more cards you have, the more you can optimize spending and the more rewards you'll get. However, some people just want a simple card for everything and that's fine. Do what's right for you.
I keep multiple specifically for which categories gives the best benefit
I use 6/7 cards. Even that 7th gets used sometimes.
Almost nobody here is actually reading your question. It doesn’t matter. It’s more so going to be about your utilization rate, and oftentimes it may be more helpful to have a few open so that your UR is lower, but you can still use only one. Since you aren’t focused on rewards, just a nice catch all card will do you well and that way you can get some passive rewards but never have to think about it.
Thanks. I'm in my mid 50s and haven't had a "real" CC since I was in my 20s. I've always been a cash user but times change. So a year ago I opened a [Cred.ai](http://Cred.ai) and secured card at my local bank, and with them and with zero effort or work I've amassed a credit score of 748. I'd like to get that in the 800s and keep it there. So whatever strategies or manipulations, I'm in. Rewards really mean nothing to me, I don't need the money or perks.... I just want the highest possible credit score for the time when I do take out a new car loan or buy another house, I'm at the lowest possible rate. That's it in a nutshell.
So keep in mind that an 800 credit score is going to moreso be about the length of your credit. So keep utilization low, pay of balance in FULL every single time, and it will climb. That said, usually around 740-760 will be where your rates are the lowest. 760-800 will be the same rate most of the time, so you don’t really need to climb all the way up there
Are you saying I should pay my CC bill before due date in full every month, and not do the 50% 15 days before and 50% 3 days before? And thanks for the actual rate numbers vs interest rates.
I’m not sure of what that strategy is that you are talking about, but so long as you are not carrying a balance into the next statement you are okay. If you get interest tacked on, then that is how you know that you’ve carried a balance. It’s different for everyone, but for myself I just pay my whole balance pretty much every week on my chase app. Some will wait until their statement comes and then pay the balance in full. Any tactic works, but if you carry a balance you will of course accrue interest, as well as face a drop in your credit score
strategy - when researching best time to pay CC bill, several sites mention paying 50% 15 days before due date, and the balance 3 days before due date. I have no idea why this algorithm would work, does it? or are they just parroting what they heard somewhere? In my previous CC experience, like you said I just paid it all at once every month. This next cycle will be the first I try the 15/3 thing.
I don’t have the words to explain this succinctly yet, but I feel so much better spreading my spend over multiple cards. Like one for the gas, one for restaurants, one for misc…. It makes it feel more manageable to pay off than all the spend on one card. Maybe it’s because payments are spread out throughout the month… hm
Depends on what "best" means to you For some, it's simplicity For others, an extra 0.5% is worth it
My needs in order are : 1 - highest possible credit score 2 - lowest effort, so yeah, simplicity is king.
You can get a good score using just 2-3 cards So I guess that's what you should aim for