boodle boy
So I got a credit card to help me fix my Bad credit and let me get this straight
boodle boy
In order to increase my credit I need a credit card.
boodle boy
the ideal way to use it is only ever put 10-30% MAX on it
boodle boy
10 is reported the sweet spot for increasing credit fastest
boodle boy
and pay it off in FULL every month
boodle boy
(there are rumours you should leave a 1% balance but they seem to have been debunked as mostly negligible)
boodle boy
But the consensus is use your cards for small purchases regularly, otherwise it will look like you're saving them for an emergency
boodle boy
also don't use them for emergencies (have emergency money liquid)
successfail
I put a few auto-pay bills on my credit card, because that way there's the regular purchases, but I'm not tempted to just grab the card instead of my debt, and because they're set bills I know how much to pay off each month.
successfail
*debt/debit
boodle boy
So a credit card, smartly used, is just an annoying middle man to prove you can pay very small bills on time
successfail
Pretty much.
boodle boy
But if you don't want a house or a car, you're doing this....So you can get better interest rates on other cards I guess???
boodle boy
I'd still like to fix my credit regardless, because irresponsible student loan handling after college knocked mine down quite a bit. But I feel like i have to jump through hoops for basically nothing
boodle boy
successfail
: Yeah I was thinking of doing just that....do some of my autopay bills and then do autopay on the card itself and just, leave it somewhere I won't be tempted to break it out
successfail
It can also help you with getting rental accomodations if you're in a hot market for that.
successfail
But really it's a lot of lingering bullshit of earlier eras.
successfail
Also if you're looking for work in a sector that's any kind of adjacent to finance or handling money sometimes employers will pull credit checks in an attempt to make sure you're not going to write bad cheques on company letterhead.... but still.
GAYVANGELION
it's kinda bullshit yeah but it is nice that if you ever need a loan, it makes it a lot easier to get one. though idk i put everything on my credit card and prefer it to debit so lmao im not the best to talk
luxury meats
it's inherently a dumb system yeah. on the bright side it goes up quicker than you'd think if you just use it to do autopay stuff
MerryMariLwyd
a thing I need to do still frankly and it's daunting 
Peil Wiggler
I think mine has helped significantly, or at least it DID until I got irresponsible with it lmao
boodle boy
that's how they get ya
boodle boy
I mean I USED to have a credit card and exactly that happened
boodle boy
I had no idea how to use it, I maxed it out (it wasn't a very high limit)
boodle boy
and it ended up hurting my credit
boodle boy
that was like....6 years ago
boodle boy
I feel ready to try again
Peil Wiggler
yeah I got it with the intent of being like "just for bills!!!" and then... lol
Peil Wiggler
being unemployed for so long is what really fucked it up
plurkishdelight
Ugh I need to do this
time for egg
I hate the credit system it's so stupid.
Hall Decker
thats what i do
Hall Decker
everything goes on the card
Hall Decker
and gets paid off each month
Hall Decker
when i got my first card, i only had a limit of $130 or something
Hall Decker
and they rate your cards on percentage rather than amount
successfail
Yeah -- I currently have a limit of 20k which is patently ridiculous, but my bank kept upping it and upping it until I was like NO STOP. I will never go anywhere near that limit, but it means my percent utilization is super low, which was handy when chaining ourselves to a mortgage.
successfail
So, start with a low limit, pay it in full every month, up it as often as you can until you tap out, and then just keep with those small automated payments.
successfail
I have excellent credit despite student loans and my 20s being a pit of financial fuckery as a result.