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DeluxeXL t1_iufuszw wrote

No.

Just use credit card for purchases you have to make anyway, like food and gas, and always pay your CC bills in full and on time.

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Letsaskyou t1_iufuy6g wrote

If anything you may rack up a higher utilization which works adversely

1

Valendorf t1_iufv2a3 wrote

Building credit is free. Set your credit cards to auto pay full statement balance and use them where you’d use your debit card or cash.

8

HorizontalBob t1_iufwmai wrote

Using your credit card doesn't build credit

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alwaysbooyahback t1_iufwnbg wrote

You need to check to see if they’re coded as a cash advance.

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Werewolfdad t1_iufx4y0 wrote

No, credit building is easy. You don’t need to play stupid games

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ahj3939 t1_iufzxlh wrote

No, you don't even have to use your credit cards to build credit. In fact the less you spend, the lower your balance, the higher your credit scores.

For the best possible scores just spend $5 a month on one card, and let the others sit with $0 balance.

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93195 t1_iug16vg wrote

Doubtful, as the probably looks like a “return”, not you making a payment. If so, it’s like it never happened.

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vynm2 t1_iug1tsg wrote

Replying to Its-a-write-off (#363,806)

u/ShimonaLisa, Its-a-write-off is correct.

As a cash advance:

  1. they get charged the cash advance fee,
  2. they start accruing interest right away, and
  3. they don't earn any points or other rewards.

So, what you're proposing isn't really a good idea, and it's definitely not going to be "free."

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elonmousquetaire t1_iug3tr2 wrote

You can simply get a secured credit card from your bank. Secured, meaning that the card amount is backed by monies you currently have saved in that bank. Use the card for everyday purchases, then pay off the balance monthly, prior to interest charges hitting. By charging monthly, paying on time and clearing your balance monthly, this should help to improve your credit score.

Basically, paying all your bills on time and paying down your overall debt, should improve your credit score as well. Another basic rule should be, to pay more than your minimum payments on all credit cards monthly, especially if you are not able to payoff the entire balance monthly.

1