Quick questions on Student Credit Cards

[Mo0o]

Originally posted by: CRXican

Originally posted by: Comp625

Originally posted by: blablabla
try this:... if you do get 2 cards... you should charges expenses to both of them so that your credit shows some movement o both accounts.. if you cant max out both cards(bc as a stundent ur income shouldnt be too high)... try paying off (part or all you bill)your 1st credit card, with your 2nd credit card... this way it looks like you have movement in both accounts.. but pay both fully...if done right.. you could make it appear as if you spend twice the amount you really do...this will help increase your max spending limit(giving you better credit) in a shorted period of time...

Interesting...I've never heard of this "workaround" before. Can anyone comment on it? It sounds like a neat idea but surely the credit bureaus would realize what you're doing when they do an audit.

I would ignore this guy, sounds like his advice is similar to his username. Don't pay CC with other credit cards, that's stupid. You only need one CC for now.

Some people with credit card debt use revolving debt to avoid interest fees. If you can juggle multiple cards, its a good method i think.

 

[imported_blablabla]

Originally posted by: CRXican

Originally posted by: Comp625

Originally posted by: blablabla
try this:... if you do get 2 cards... you should charges expenses to both of them so that your credit shows some movement o both accounts.. if you cant max out both cards(bc as a stundent ur income shouldnt be too high)... try paying off (part or all you bill)your 1st credit card, with your 2nd credit card... this way it looks like you have movement in both accounts.. but pay both fully...if done right.. you could make it appear as if you spend twice the amount you really do...this will help increase your max spending limit(giving you better credit) in a shorted period of time...

Interesting...I've never heard of this "workaround" before. Can anyone comment on it? It sounds like a neat idea but surely the credit bureaus would realize what you're doing when they do an audit.

I would ignore this guy, sounds like his advice is similar to his username. Don't pay CC with other credit cards, that's stupid. You only need one CC for now.

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Read the fvcking post... IF he gets 2 cards, it could help keep both accounts moving, instead of (like he suggested) turning one down if he is approved by 2.

"Don't pay CC with other credit cards, that's stupid.".... explain.. this time dont focus on my username only.

 

[RossMAN]

WTF are you people smoking and where are you getting this bogus info?

 

[IronWing]

Originally posted by: blablabla

try this:... if you do get 2 cards... you should charges expenses to both of them so that your credit shows some movement o both accounts.. if you cant max out both cards(bc as a stundent ur income shouldnt be too high)... try paying off (part or all you bill)your 1st credit card, with your 2nd credit card... this way it looks like you have movement in both accounts.. but pay both fully...if done right.. you could make it appear as if you spend twice the amount you really do...this will help increase your max spending limit(giving you better credit) in a shorted period of time...

Read your credit agreement carefully. Many card companies treat credit card payoffs as cash advances meaning that interest starts accumulating immediately and you get hit with a transaction fee (normally around 2% of amount).

 

[RossMAN]

Originally posted by: ironwing

Originally posted by: blablabla

try this:... if you do get 2 cards... you should charges expenses to both of them so that your credit shows some movement o both accounts.. if you cant max out both cards(bc as a stundent ur income shouldnt be too high)... try paying off (part or all you bill)your 1st credit card, with your 2nd credit card... this way it looks like you have movement in both accounts.. but pay both fully...if done right.. you could make it appear as if you spend twice the amount you really do...this will help increase your max spending limit(giving you better credit) in a shorted period of time...

Read your credit agreement carefully. Many card companies treat credit card payoffs as cash advances meaning that interest starts accumulating immediately and you get hit with a transaction fee (normally around 2% of amount).

I disagree with the first part.

The latter part is correct. Most balance transfers have a fee of 3% or $75, whichever is greater. However some feature $0 balance transfer fees.

 

[cubby1223]

Originally posted by: blablabla
Read the fvcking post... IF he gets 2 cards, it could help keep both accounts moving, instead of (like he suggested) turning one down if he is approved by 2.

"Don't pay CC with other credit cards, that's stupid.".... explain.. this time dont focus on my username only.

Like others have stated, there are balance transfer fees which just means the balances keep increasing on each card if someone took your advice. So now we can focus only on your username.


Anyways, I would definately recommend having 2 credit cards (as long as you have great self control), so that if you ever couldn't pay one off some month, you have the second to use that's not gaining interest. Just don't fool yourself into thinking you're getting a credit card for "emergency purposes only". Other than that, just self control not to purchase what you cannot pay off in a month.