FindArena > Find Arena > Banking

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  #1 ()
novaexate : i'm 15...

-gray sequenced gray top with black stripes
-black leather jacket
-light wash distressed short jean shorts
-wide black braided belt with big silver buckle
-knee high black flat boots
-silver sparkly jewellery

btw, what kind of bag should i bring?
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  #2 ()
srfecti644 : Sounds hot and sexy!!! skip the bag if possible.
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  #3 ()
Teeliaprayelo : I have a verified paypal account. I found that a lot of people failed on these. Has anyone had success. Should I trust them.

I am not able to use my debit or credit atm.
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  #4 ()
SamuelX4 : So I got approved for a Capital One card and I applied online. Limit is $500. I got rejected by Bank of America for a credit card. They said I did not have enough credit references on file.. I know this will really hurt my score but eventually I'll recover. I only applied because I'm sick of just having a secured bank credit card and a store card I got approved for. I figured because now I have a regular credit card that I don't want to apply for a while.
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  #5 ()
TeeFThescen : I have no idea what you are trying to ask.

Secured cards are meant to jumpstart your credit history. You need to use them for at least 12 months to do much for your credit/score. If you had a secured card and a store card, you likely got denied by BoA because you didn't have these accounts very long or hadn't been using them on a regular basis.

CapOne probably has different requirements than the BoA card -- both banks have various card plans. Some take better credit than others.

I really don't know what you think "hurts your score". Applying for the cards results in a hard inquiry which only dings your score a couple points. Your score starts to rebound in 6 months. Really NOT a big deal.

Opening new accounts can lower your score due to lowering the average age of accounts. I suspect this won't make any difference as your other accounts are probably less than 4 years older.

Don't put so much credence in all the commercials and "credit expert" sites. Most of the stuff they harp on is nickle and dime crap -- not worth the effort for a point or two. Just pay all your bills on time and check your credit reports annually for accuracy. Your score will take care of itself.
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  #6 ()
MrJasonStar : Ok so my questions are, is it true you should not come within 30% of your limit or something? I was told that I should not put more then $225 on my credit card, even though my limit is $750 dollars. I was told to do this to build good credit. I was also told to pay my statements off a little at a time, and to never pay my statement in full when it comes, otherwise you won't build good credit. Does that really matter? Also, how much do the credit score tracking people keep track of? Do they only keep track of your closing statements? Or EVERYTHING? What I mean by that is, let's say I put $650 dollars on the card, but pay that off and lower my balance down to $225 before the statement closes at the end of the month, will they know I came close to my limit and give me a bad score, or do they only keep track of closing statements?

Any help on all those questions will be very much appreciated, and be rewarded with the best answer!!!!! Thanks so much!!!! :D :D :D :D
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  #7 ()
EliteScreens : You can charge up to your limit. But don't charge it so close that when they add interest it will make you go over your limit. You should pay your statement off every month. Sometimes that isn't possible.
They charge you interest if you do not pay the balance in full. Whoever is telling you this stuff doesn't know what they are talking about. The credit card company reports to the credit agencies. And all they report is if you are paying your payments or not. They don't report he only paid $10 and he owes $400. Coming close to your limit won't give you a bad credit score.
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  #8 ()
SessNeiny : You can charge whatever you want as long as you pay the balance the following month. If you have an emergency and you have to charge close to the limit but can not pay it off the following month, then do it in 90 days and pay some interest.
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  #9 ()
depslinee : Carrying a balance does not build your credit score. It just builds your interest charges.
Making regular payments is what builds up your credit score. Credit agencies do not care how much you owe just that you make a regular payment.
Pay off the balance in full every month. That way you get no interest charges and build your credit score.
There is no benefit in paying before you get your monthly statement either.
Get your monthly statement then pay in full before the due date is the best way to go.
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  #10 ()
srfecti644 : If your goal is to build credit, I say pay off the balance every month. Use it to buy things such as gas and food... and pay that off every month. It will build your credit score, and it will also prevent interest charges which can be a hassle and are avoidable.

Lenders, etc, look at your history of repayment. If you charge to a card and pay it off regularly every month, it is a positive.

Use your credit card wisely and with great discretion.
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