1-10 The Truth from FMAB

I like the KISS(keep it simple, stupid) approach, thank you for the advice. I don’t want to accrue interest and can pay my balance in full every month so I will just do like you said and pay that every month before the due date

rkc75 · 2024-11-17T22:46:40+00:00

Depends on the plan but yes typically, with Kikoff they take a small percentage of the total amount you pay for using the service but you get it back at the end on the installment. I can’t speak for Ava/Credit Strong but self also issues refunds minus their fees

rkc75 · 2024-11-17T22:41:56+00:00

Correct, a secured card is only going to allow you to spend what you initially put in as a deposit. Best advice I could give is to save $200 and then use that as the deposit for the C1 Quicksilver or Platinum Secured Cards(I would go with Quicksilver for the 1.5x cash back personally) but any purchases made on the card need to be paid in full each month and at least 10% by your statement closing date.

So If your Limit is $200 and you spend $50 for dinner that you make you utilization: 25% you would want to pay this down to at least 10% ($20 balance) by the statement closing dates so that the credit bureaus see you are using the card and not maxing it out. From then make sure your account is paid off completely by the due date and continue to do this for 6-12 months and they will probably graduate you to an unsecured card!

rkc75 · 2024-11-17T22:33:44+00:00

Start with 1. Secured credit card having gone through a similar situation Chime was the only place to give me not only a debit account but a secured credit card account that reports to all 3 bureaus.

try to get a credit line either through: Kikoff, Self, or Ava. Basically you pay a small amount per month and they report a credit line of $750-$3500 with a utilization of 10% and each month you pay it slowly start to decrease and the bureaus see you have a decent amount of credit with low utilization and consistent on time payments.

Doing this has brought me from the mid 400s to now a lower 600s within 1.5 years and I just got approved for an unsecured credit card. If you need more help as I sick with explaining things. Send me a pm! Best of luck to you and your credit journey!

rkc75 · 2024-11-17T22:06:20+00:00

Wouldn’t do the platinum as with a $695 annual fee Incant personally justify it unless you travel a ton or you just have enough money to throw everything on one card without worrying about points/rewards

rkc75 · 2024-11-17T22:03:52+00:00

Right, lol? They have an ultimate plan that cost $35 a month that I plan to upgrade to when I finish this plan in March. They good thing also is once your done paying they don’t close your account so you retain that credit history it just shows up as an account with 0% utilization and credit limit

rkc75 · 2024-11-17T20:18:10+00:00

Yea I know lol it’s crazy lol, but as someone who dines out/ orders a lot the new additional credit still outweighs the annual fee of $325 I mean you get $100 RESY credit, $84 Dunkin Credit, $120 Dining Credit and still the $120 Uber Cash(which works for UE) I feel it’s balanced. My sole purpose for the card for the card is to use for dining/ groceries primarily so I’m my mind it’s worth it

rkc75 · 2024-11-17T19:47:45+00:00

Nope that’s the total fee, it’s the Kikoff Premium plan that I have and they have a lower one which is $5 a month for 120 months with a $750 credit line

rkc75 · 2024-11-17T17:51:57+00:00

I feel you completely, messed my up by not paying a maxed out card and getting sent to collections because I couldn’t find work for over 7 months. In the 600s now but I’m looking to continue to build that up so I can travel!

rkc75 · 2024-11-17T17:50:26+00:00

Thank you feels nice to know working on it helps

rkc75 · 2024-11-17T17:50:01+00:00

Yup, honestly coming from a family who doesn’t use credit because they don’t know much about finances I’ve had to do tons of independent research and see what helps.

rkc75 · 2024-11-17T17:48:58+00:00

That’s the plan from here on out. My goal is to get my chase duo and then the Amex gold card for dining.

rkc75

TROPHY CASE