1717
The numbers will determine your fate
(lemmy.world)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 15 Feb 2024
1717 points (98.5% liked)
Microblog Memes
5699 readers
3441 users here now
A place to share screenshots of Microblog posts, whether from Mastodon, tumblr, ~~Twitter~~ X, KBin, Threads or elsewhere.
Created as an evolution of White People Twitter and other tweet-capture subreddits.
Rules:
- Please put at least one word relevant to the post in the post title.
- Be nice.
- No advertising, brand promotion or guerilla marketing.
- Posters are encouraged to link to the toot or tweet etc in the description of posts.
Related communities:
founded 1 year ago
MODERATORS
So I should get five more credit cards and not use them?
I feel like you meant this sarcastically, but the answer is probably yes.
The trick is to not use them though, which so many seem to struggle with. If you're someone who struggles to manage debt, then getting more credit cards WILL BE DISASTEROUS.
So, sounds like a skill issue /s
You can use the cards, just don't carry a balance. If you don't use a card ever, it's likely going to get cancelled.
The easy thing you can do is set recurring bills only to a credit card and then set that card to auto pay the entire balance each month. Something like Netflix or even your electricity bill.
Put the bill on the card, and if you don't have the willpower to shove the card in the back of a drawer and never use it, cut it up. The card doesn't go inactive, you don't rack up debt or interest, and you can maintain a high credit to debt ratio.
Yep. This was a big part of my strategy when I rebuilt my credit. I have a pile of cards, several of which have a single bill associated with them. I wanted to cancel because now I have a great score and a couple of really high limit cards, but that drops my length of history.
So I'll be sitting on these low end cards forever probably. They'll pay a single bill, get paid off before it closes for the month (that's the number that gets reported to the bureaus) and every month from now until I decide I never need credit they'll report $0. Just like they have the last 5ish years.
Don't want to set here and repeat TexasDrunk, but yeah, that's largely what i do.
Though my solution for most cards is to buy a candy bar with each card towards the end of June every year (I have a handful of niblings who were all born end of June through July, so makes a good little treat for when I come to visit)