johnnybinsea

675 Contributions 363 People Helped Top Contributor

Member Since: February 2014

Most Helpful Contribution

The Amex EveryDay® Credit Card from American Express

Sep 29, 2015
Must be used as a everyday card
Helpful to 15 out of 17 people

Great card but to get all the rewards you need 20 swipes of the card a month so you have to use it.  But well worth it!!!

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The Amex EveryDay® Credit Card from American Express

Sep 29, 2015
Must be used as a everyday card
Helpful to 15 out of 17 people

Great card but to get all the rewards you need 20 swipes of the card a month so you have to use it.  But well worth it!!!

Is too much available credit a bad thing?

Sep 27, 2015
Helpful to 10 out of 11 people

Mindjaz is correct... you are fine.  I have $85000 in open credit.  There are many out there with far more.  You dont sound like you are opening a lot of credit cards at one time so I'm sure you will be fine.  Also the credit card companys would not approve you if they thought that you could not handle it.

I applied for a Capital one card. Credit karma recommend it. We are buying a house sone

Mar 07, 2016
Helpful to 4 out of 4 people

If you are buying a house in the next year I would not open anymore lines of credit.  But congrats on your new card and use it wisely.  Only let between 1 -9% of your credit limit show for best scores.

Will a balance transfer of my current cards to one card help my credit?

Oct 13, 2015
Helpful to 4 out of 4 people

maybe... first it is always best to let only one card show a balance and the one that does show a balance to be at 1-9%  If you transfer all your  balance to one card you dont want that one card to go above 50% and really dont want it to go above 75%.  So if you can keep the one card low your golden. 

If I reduce the credit lines of credit cards I am not using, will that increase or decrease score?

Oct 12, 2015
Helpful to 4 out of 4 people

well it wont increase your score, but it can decrease your score.  If you close a credit card it can affect your utilization (30% of your score) so I would be very careful about closing and credit cards. 

Credit Card Utilization

Sep 26, 2015
Helpful to 4 out of 4 people

So for best results you do want to show some use.... but somewhere between 1-9%  The best way to do this is to pay BEFORE the statement date which is about 3-5 days after due date.  so lets say you on you mastercard you have $3000 on it and it is due on the 25th and your statement date is the 28th.  You want to pay it down to between $30 and $270 before the 25th.  This is what is going to be reported and counted towards your utl.  The good news is utl has no memory so it can go up and down without any problems.

How long should I wait to reapply for a new CC after being denied due to a recent derogatory remark?...

Oct 04, 2015
Helpful to 7 out of 8 people

it will take 30 days for them to pull a new report.  Are you saying that the derogatory remark will be removed?  if not you might have to wait awhile.  What are your scores?  how thick is your file?  What kind of remark is it?  the more recent the remark the more it is hurting your score.  I would do all you can to get it removed before I would app for any cards.

medical collections

Apr 13, 2016
Helpful to 3 out of 3 people

What is your question?

I currently have NO credit file. What can I do to establish credit quickly?

Oct 11, 2015
Helpful to 3 out of 3 people

Well first I would try to establish some cedit.  It will take you six months to have a file.  I would first try with Cap1 and/or a local credit union.  If you cant get a unsecured cards then get a secured card.  I would try with BOA.  You can also have someone put you on there account as a AU

Wiil opening a secured credit card increase my credit score?

Oct 05, 2015
Helpful to 3 out of 3 people

if you do not have any cards open now, yes... Depending on your credit profile it could help build your credit pretty fast.  If you have a lot of baddies on your profile it will build it up slowly but nevertheless it will build.

Would need a lot more infor about your profile in order to give a more detailed response.

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