>got first credit card in the mail today >says my credit

It's a trick, don't fall for it. They want you to spend money you don't have. That's how they make money.

Fpbp.
We're also in the middle of a credit bubble when they'll give credit to literally anyone.
Zero down mortgages are back. Hunker down, folks.

>>39240778
>>39240825
There is literally nothing wrong with building your credit. Use a credit card for small purchases that you can pay off within the month.

>>39240634
Some institutions use other factors such as but not limited to
>The scores of legal family
>Rent payments
>Utility payments
>Public school grades
>University grades
>Criminal history

All a credit score is is the systems willingness to lend you money. They higher the score the more likely they are to trust you. The lower the score the less likely they are to trust you. Your scores can also vary from institution to institution by hundreds of points because each one weights different factors differently.

Because its a vague estimation of trust its pretty much useless out of specific applications. If you never plan on buying a home or a new car your score wont matter much to you.

>>39240968
There's literally nothing wrong with not buying shit you can't afford either, friend.

>>39241587
Except for the fact you can't afford it which is everything that's wrong with it.

>>39241587
but he just said buy stuff you can afford to build credit, because once you are an adult you can't get all that far without it. You won't be able to buy a house in cash.

>>39241697
What do you need credit for if you don't buy shit you can't afford?
>You won't be able to buy a house in cash.
Ohhhhhh, because you're poor.

>>39241909
That is not what poor means, but keep on being your bad self, my man.

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>>39241909
...do you know how fucking expensive houses are right now and how much more expensive they're going to be?

I'd like to see you plop down a quarter million just as a down payment.

>>39240968
The point of the OP was that he already had good credit

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>>39242038
>got his first credit card today
>has good credit

>>39242066
715 is a good credit score

>>39242072
From which credit rating agency? The standard score for new customers is not a "good score."

>>39242122
The average credit score is 687

>>39242232
>average credit score
From which credit rating agency? The point is you can't do a lot with a new credit card because they give you a standard rating and a low spending limit to test you on how retarded you are with make believe money.

You won't be able to get a car or a house with a new credit card.

>>39242262
I guess it all hinges on whether OP maked enough money to afford using it

>>39240634
I have like 7 credit cards and a 710. Come back when you have history

>>39242316
No it doesn't hinge on anything, you can't do anything worthwhile with a credit card until the company trusts you.

How does this not make sense to you?

>>39240778
>put one $30/month bill to automatically get paid from credit card
>put nothing else on it
>have to pay $30.15/month to pay it off
>started this two years ago when credit score was 723
>now 810
Credit cards are the easiest to build your credit score. Now, anytime I need to get a loan, banks don't even bother asking for anything other than "what for and how much?" I always pay it off within a month anyway which actually lowers your score.

>>39242371
My first card had a $500 credit limit. That's big enough to get into a lot of trouble if you misuse it.

>>39242434
Wow, $500? That's almost $500 dollars worth of a trouble you can get into!

>>39242489
Never underestimate the stupidity of poorfags.

>>39242489
At 27.99% interest yes it can

>>39242518
>27.99% interest
Throw yourself and that dumb hunk of plastic in the trash.

>>39240778
>being this much of a retard
you spend with the credit card, and then instantly repay it with your actual money
this brings your credit score up higher and higher until you're at perfect
now the banks are willing to give you as big a loan as you want if you ever require it, because your score shows you're guaranteed to pay it off

>>39242552
I've never needed a bank loan in my life, what would I need to borrow money for?

>>39242552
No shit that's great, but we're assuming that OP can't afford to or won't have the self-control to do that.
The credit card company wants you to embrace the idea of credit and debt. So they told OP he has good credit (hence OPs confusion at such a high score) so he'll believe that even if he overspends with the credit card, he can always use his credit score to open up another line of credit.The credit card company wants you to embrace the idea of credit and debt. It's a psychological ploy, and it works.
Otherwise, does it make any sense AT ALL that OP would have a good credit score when he has never once proven worthy of it?

Christ alive.

>>39242639
To buy a fucking house or a car maybe? Basically anything you can't fit cash in your pockets to buy with. Didn't your parents teach you this?

>>39242639
You don't need to, but a perfect credit score gives you the option in an emergency
Ideally you shouldn't step foot in a bank unless absolutely necessary, but you should always ensure you have the option

>>39242668
>The credit card company wants you to embrace the idea of credit and debt.
Actually what they want you to embrace is the fact they have almost unlimited amounts of money for you to borrow at a premium.

This isn't super sly capitalism fuckery, it's a standard money lending setup that's been emulated since the dawn of civilization.

>>39242670
I own my home, senpai. I know what poor people do with credit. I'm just not sure why there are so many poor people. Why do they keep having all these kids?

>>39242716
>I own my home, senpai.
Did you buy your own home? Likely you did not.

>>39242371
I recently got a capital one credit card, my first card, with an abyssmal score of 570. They gave me a 2000 dollar credit limit to start. This isnt a secured card either.

Since i got the card Ive been using it for every purchase i make. My score has gone up more than 60 points in the past few months.

>>39242738
No, my parents gave it to me.

>>39242884
think about how good of a credit score you would have had you built some up and then used it for a loan which you paid off though, that would be primo stuff

>>39242903
What do I need a credit score for if I don't buy shit I can't afford, senpai? That's what I'm not understanding.

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>idiots who like being a slave to debt
The only loan I've ever took out was a student loan. I paid that shit back in two years. Never again. If I cannot afford it upfront with cash, then I do not need it.

>>39242922
If by "cant afford" you mean cant pay cash in full, well then you're really limiting yourself as to what you can have in life.

>>39243125
I guess I just don't need anything, senpai.

39243102
>ignoring everything so you can shitpost
you don't get a (You) fuccboi
everyone here is saying to not take out loans, just farm credit score

>>39243161
Hey man i hear you, i am not a very materialistic person, but i would like to have some nice things in my life eventually. Maybe a house, who knows. Having your own property is pretty comfy i bet.

Im 25 and i only just started building my credit now, because i was mostly like you, not caring about "stuff." But at a certain point you have to realize that you're gonna be around for a long time, and priorities change.

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>>39243222
>"just farm credit score"
>equating money to a video game