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Eiko

Approved?! :o

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So, after some thinking; I decided to attempt to build credit. I live with my parents, have very unstable income, and have a brand new social security number. Who in their right mind would give ME a line of credit? ...well, Capital One. I was approved in seconds for the "Cash Rewards for Newcomers" card. $500 of credit with no annual fees! :3 I'm pretty meticulous about my finances, and I don't treat credit as money I have. So I'm not worried about getting in debt. I guess I'll shut up before I start to sound even more like an advertisement.

I take back some of the things I said about financial institutions ...for now. I'm just really excited as this is a big step for me. I've acquired new responsibilities and new goals for the coming year. ^^


EDIT: Another bonus! While I was on a roll I figured I would apply for a savings account with a 0.90% interest rate and I was approved! :3 *dances*
Viewed: 19 times
Added: 5 years, 7 months ago
 
FoxiGraff
5 years, 7 months ago
Great news! I'm glad for you! Making small little purchases and paying them off again quickly should build your credit in no time. :3
Eiko
5 years, 7 months ago
I'm almost scared that maybe I don't SPEND enough to build credit. But I can put my rent on it or something. That would be a consistent $200 of spending and re-imbursement.
Shokuji
5 years, 7 months ago
I bet their APR is horrendus. X3 But it could be a good thing, just don't spend over 30% of the limit and pay it off every month. That will keep you out of trouble. X3 Good luck! Just remember, you are playing with sharks dealing with any credit card company. Don't fool around or you'll get bit.
Eiko
5 years, 7 months ago
Thanks. ^^ I'm paranoid, so I check my accounts multiple times a day to see when things come out and keep an eye on who is putting money where. The APR is, like 24.9%. Luckily, it's only $500 of credit. As long as it's paid promptly, I should have no issues. And when the account is fully set up (the last part requires the physical card) I will have the billing cycle dates logged in my phone's calendar app as well as my physical calendar.
Shokuji
5 years, 7 months ago
Sounds good! =3
mayhew
5 years, 7 months ago
have you researched credit unions?
also, if you ask for somthing smaller they will usually accomidate. just ask.
Eiko
5 years, 7 months ago
My current "bank" has been a credit union. On the plus side, there are no fees for REGULAR bank usage. But any extra services, screw-ups, etc come at the cost of HEFTY fines. (My bf lives outside of the country where there are no Western Unions. An international bank transfer is almost double the price of the last 2 banks I dealt with.) Also, the interest rates are crap. My credit union savings account had something like a 0.01% interest rate. Their site is down a lot compared to other banks. But the real pisser is that the 2 biggest credit unions in the area have problems with their debit cards. Getting my debit card to scan at a Walmart becomes its own puzzle game. x3 I did consider asking them for a small loan, but my mom said that it would make a very minimal impact on my credit if they even approved me. But "real" banks all punished me for not making enough transactions or having enough money.
mayhew
5 years, 7 months ago
Ive found Wells Fargo to be alright, my family banked w/them for years.
DraculJOSHI
5 years, 7 months ago
be EXTREMELY carefull with credits, one  too big can easily ruin your life... or at least a good portion of one.

not to mention that it would also be difficult for
Bastion
Bastion
Eiko
5 years, 7 months ago
This has a MAXIMUM credit line of $500. And I want to improve my rating, so I can't spend more than 30% of that at a time. Basically, I'm gonna use it to pay $100 of my rent every month and then pay it off on time so I don't let any interest run up on it.

And The high-yield savings has multiple purposes. The money I put in there gets split into a retirement fund, an emergency fund, something I've been saving up for, and money to help Basty move closer to me. The amounts are basically percentages of my paychecks.
DraculJOSHI
5 years, 7 months ago
that sounds well planed, you have my support then ^^
IrritatedCharizard
5 years, 7 months ago
I have been trying to get a credit card but my bank won't let me :I  Arrrggggg :U
Eiko
5 years, 7 months ago
Do you live near a Texaco or Chevron gas station? They apparently have a Visa card that is easier to get than most credit cards.
IrritatedCharizard
5 years, 7 months ago
Nope Xd
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