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How bad did I fuck up? (lemmy.world)

submitted 4 days ago by [email protected] to c/[email protected]

177 comments fedilink hide all child comments

I signed up for an American Express preferred Blue card and got approved for a limit of $25,000. I have a 830 credit score. I realized that the places I shop don't accept that card and you have to pay for it yearly so I canceled it.

Then I decided I was going to get a Costco Visa. Once I signed up the credit limit was only $5,000. So I canceled that one. So I stupidly signed up for a Wells Fargo Visa and that was $4,000.

Don't leave yet and please don't make fun of me but I'm not done being stupid. I decided I wanted a different American Express card and when I signed up for it the credit limit was $2,000 so I canceled that one.

Again I know I'm fucking stupid but how bad did I just fuck up my credit?

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[–] [email protected] 6 points 3 days ago (4 children)

Literally every purchase. Use it like a debit card and build a good credit report before you’re even 30. Shit my credit score was over 800 before I turned 21. My credit wasn’t very thick. But what I had was solid.

Plus every card I have gives me cash back so it’s like getting 1-5% off every single purchase. Plus since I buy things for work and get reimbursed for it I’m effectively making money off of it.

[–] [email protected] -1 points 3 days ago (3 children)

I’m 44yo with A+ credit and have never used a credit card in my life.

[–] [email protected] 2 points 3 days ago (2 children)

Define “A+”

Credit is about length and girth in addition to their scores. By 40 you’d better have an “A+” score. If you’ve had a mortgage for 20 years, paid your bills on time, and had a couple car loans then anything under 800 would be hard to get.

[–] [email protected] 1 points 3 days ago (1 children)

Sounds like you agree with me that a credit card is not remotely necessary for building good credit.

[–] [email protected] 1 points 3 days ago

I never said it was necessary.

But it is one of the fastest and quickest ways to build credit.