Building credit

[richardkorea2010 15]

If you are unemployed and dont have an income...how do you fill in the part of income with the capitalone secured card?

I would like to get a secured card, but not employed.

[TBoneTX 43,157]

In regard to improving one's credit score, here's something that I've done for years that apparently has a very positive impact, at least according to one credit-card outfit.

When my monthly bill comes in, I round the payment amount up to the next even-dollar amount. For example, if the bill is for $127.38, I'll pay $128. Obviously, this creates a small credit (of .62, in this example), which carries over to the next month's bill.

If the cents amount for the month is .09 or less, I'll pay the exact amount, but all other times, I'll round up.

I didn't ask why, but apparently carrying even a fractional credit every month makes a positive difference.

[Niels Bohr 72]

Exactly what I do.

Don't know where that idea came from.

In regard to improving one's credit score, here's something that I've done for years that apparently has a very positive impact, at least according to one credit-card outfit.

When my monthly bill comes in, I round the payment amount up to the next even-dollar amount. For example, if the bill is for $127.38, I'll pay $128. Obviously, this creates a small credit (of .62, in this example), which carries over to the next month's bill.

If the cents amount for the month is .09 or less, I'll pay the exact amount, but all other times, I'll round up.

I didn't ask why, but apparently carrying even a fractional credit every month makes a positive difference.

[Sayha or bust. 71]

The card is a citi bank diamond preferred. Here's the link. https://creditcards.citi.com/credit-cards/citi-diamond-preferred-card/

Good luck . She was employed but she gets a 1099 which shows little income, I doubt that helped much on the application.

Edited May 10, 2013 by Sayha or bust.

[Mariana2012 89]

If you are unemployed and dont have an income...how do you fill in the part of income with the capitalone secured card?

I would like to get a secured card, but not employed.

I did it through the phone. I told them I have a monthly $500 income from rental property outside US. A true statement (but unverifiable) and they approved the card. I asked for the " capital one card for newcomers " Edited May 10, 2013 by Mariana2012

[missicy 87]

Thank you for suggesting this card. I applied for it today and even though I am unemployed they still approved the $500 line of credit. I was about to start with a secured credit card but thanks to your help I don't need to block $500 of my own money.

Do you guys know, if my husband adds me to a car loan made before we got married, does that help build my credit score?

I'm glad I helped.

That cards interest rate is way too high. Citi Bank offered my wife a card at half that rate. Yes, have him put you on it. she didn't have any credit at the time she applied for that card.

If you pay off your balance each month (which you should if you're trying to build a good credit score) then it doesn't matter how high the interest rate is because you won't pay any interest.

[GandK 168]

In regard to improving one's credit score, here's something that I've done for years that apparently has a very positive impact, at least according to one credit-card outfit.

When my monthly bill comes in, I round the payment amount up to the next even-dollar amount. For example, if the bill is for $127.38, I'll pay $128. Obviously, this creates a small credit (of .62, in this example), which carries over to the next month's bill.

If the cents amount for the month is .09 or less, I'll pay the exact amount, but all other times, I'll round up.

I didn't ask why, but apparently carrying even a fractional credit every month makes a positive difference.

I have always paid off my balance in full but I have heard this theory many times now. Would love to know more why/how it works?

[Póg mo 1,749]

I applied for and received a plantinium capital one master card with a limit of $500 in November. In a letter that came with my card, I was informed that if I used my card at least once and paid the minimum balance on time for seven months, I would get an automatic $250 credit limit increase. Yesterday I recieved an email stating my limit would now increase to $2500. Not sure why my limit incresed so much, but I am now thinking of applying for another capital one card that carries a lower interest rate. I applied a few months back for a citi credit card, but wasn't approved.

Thoughts anyone?

[GandK 168]

What is your current credit score?

I would wait until your score is above 700 before applying for a new credit card. Getting rejected could impact your credit score.

[Póg mo 1,749]

What is your current credit score?

I would wait until your score is above 700 before applying for a new credit card. Getting rejected could impact your credit score.

My score according to creditkarma is only 680, but maybe thanks to my capital one credit increase, my rating should hopefully increase in the near future.

[AllYouCanEat 3]

Exactly! And that's the best way to build your credit quick. It doesn't really matter what interest rate credit cards have. You should never go that far to begin with and pay in full every month.

Use your credit line up to 35% max each month and pay in full.

Also, for your 2nd card it might be worth looking for cards that offer a lot of sign up bonus. There are usually $300+ sign up bonuses from Chase.

Yes it is super high, but I plan to pay it in full every month so it shouldn't matter. What is the name of the city bank card she got? Was your wife employed when she applied?
I will try to get a second card in a couple of months and I will look into Citi Bank as well.

[Peter_Pan 661]

I did it through the phone. I told them I have a monthly $500 income from rental property outside US. A true statement (but unverifiable) and they approved the card. I asked for the " capital one card for newcomers "

Interesting. I have that as well, I should try it.

[Shimura 0]

i would like to know, as far as i am thinking to apply my own credit card with my own name on it, but the problem is, i don't have a job, so i don't have an income. and i just got an income from selling stuff online

so am i capable to get my own credit card?

[Mariana2012 89]

I would like to know, as far as i am thinking to apply my own credit card with my own name on it, but the problem is, i don't have a job, so i don't have an income. and i just got an income from selling stuff online

so am i capable to get my own credit card?

I don't have a job yet either and I got approved for what was advertised as "capital one card for newcomers". I told them I had $6000 a year income from rental outside US.

[Shimura 0]

I don't have a job yet either and I got approved for what was advertised as "capital one card for newcomers". I told them I had $6000 a year income from rental outside US.

Thanks Mariana, did you give them any proof of your outside income? or do they ask you to show your bank acc?because yes i have an apartment and rent, that's why i am gonna worry they will reject if i am apply

i think i will try the capital one too.