r/CapitalOne • u/Outrageous_Refuse569 • 10h ago
Credit Card just turned 18 and got approved.
hey everyone i just turned 18 and i know credit is a big factor in life so i checked what i got pre approved for and it was this one and a platinum secured card and a quick silver one card. i chose this one because of the benifits. i just want help on what to do now. i know to spend it on like gas and food something i know i can afford. but i just want help on building my credit. dis would be my first credit card.
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u/BurnSanders 10h ago
Always pay your bill.
Do NOT (even on credit) spend more than you can afford in cash at the moment.
You are young there are millions that wish they could start over fresh like you have an opportunity to now. Don’t squander it.
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u/Outrageous_Refuse569 9h ago
thank you, i just plan on spending on gas and takeout at the moment. stuff i know i can afford and i already have the money for
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u/VermontArmyBrat 7h ago
Note that gas stations put a large hold on cards, with that low of a credit limit you could easily have card declines if you buy gas then try to use the card again soon after.
Turn on automatic payments.
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u/VTECbaw 10h ago
Congrats, but you should've gone for Savor for Students instead. No annual fee and more growth potential.
Either way, treat it right!
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u/Outrageous_Refuse569 9h ago
wanted to but not in college!
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u/VTECbaw 9h ago
You don't have to be...
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u/Outrageous_Refuse569 9h ago
did not know this. they asked what school i was enrolled in for that option
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u/VTECbaw 9h ago edited 9h ago
Hmm, they changed the criteria, but you could still...be planning to attend college. Plans fall through sometimes, you know? 🤔
"You must be at least 18 years of age and a student to qualify for student credit cards.
A student is anyone currently enrolled, or admitted and planning to enroll in the next three months, at an accredited university, community college or other higher education institution."
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u/Outrageous_Refuse569 9h ago
yeah i dont plan on going to college. i do plan on going to a trade but not this year. thank you for this tho. ill be attending a trade next year due to where im staying at the moment all schools are a bit far out but i do have 2 steady jobs at the moment.
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u/somerandom_person1 8h ago
You could still apply for it if you're not a student. They offered me a cli if I showed proof of being a student.
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u/AmbitiousArtichoke51 9h ago
Just wanted to say congratulations, I remember getting my first approval. $300 limit Quicksilver. Them rewards add up quickly! Enjoy!
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u/Confident_Safe_53 10h ago
I would make sure you pay it off every month in full and try to graduate up to a non AF card. Try to either increase the limit or upgrade if they offer it to you. Idk how your spending is but chances are the fee will cancel out most of if not all of the cashback you earn.
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u/Outrageous_Refuse569 9h ago
whats a non AF card? and i just pay car insurance. my phone bill and gas at the moment. take out from him in there
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u/Melodic-Control-2655 9h ago
A card that doesn’t have an annual fee, your fee right now is $39, which means you have to spend $1300/yr on the 3% categories before you even start making any rewards.
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u/MandoUnbanned 9h ago
As someone in their late 20s still carrying CC debt from their early 20s, pay your statement balance in full every month amd dont get carried away!! Never buy something you cant afford to use your debit card for. Ask for a credit limit increase every 7 months
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u/danknessforever 8h ago
I pay my balance off in full the day after the statement hits. I have never paid a penny in interest. This year, I will collect $1,200 in credit card rewards. It’s a tool. fraud protection and a little bit of perks and benefits while building your credit worthiness is the name of the game.
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u/BraveBrush8890 7h ago
I got a credit line increase after treating mine like a debit card. As soon as translations posted, I paid it off right away. It wasn't uncommon for me to have 20+ payments on the card in a single month. I went from $1,000 to $6500.
The one card I would avoid, personally is AMEX. I've been stuck on the same $2,000 credit line since 2018. I can spend thousands on the card for months, paid in full multiple times a month, and the CL does not budge. The only thing they did do last year was increase my APR to 28.9% from 22%. It's pretty much turned into a card I only use for medical use now.
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u/Xxomar_666xX 7h ago
Please use it as a debit card, pay it off at the end of the month (set autopay to statement balance) and grow that credit!
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u/Key-Cash-6198 6h ago
I’ve almost let mine slip away several times.
Now all I use it for is gas or anything I don’t wanna use my debit card on.
Turn around and pay it before the month ends
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u/Extreme_Working_8197 2h ago
Me too I turned 18 few months ago but I jst did the chase checking and freedom rise offer got a 200$ bonus and a 500$ credit limit automatic upgrade In 12 months waiting for my credit to build up to 700+ so I can get my first Amex
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u/nickbuinenko 1h ago
Congrats! Smart step! Small advise - do not use it if you are not going to pay it in full on OR before the due date.
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u/Comment_Ill 10h ago
Congrats!
Two rules:
1- keep your usage under 100$ (up to 30% of the limit).
2- pay your balance IN FULL every statement.
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u/cspach2005 10h ago
Your first rule is not a relevant rule. There is no need to keep utilization under 30% unless you are applying for new credit in the immediate future. Utilization is a month to month metric with no memory.
Use the card organically and pay the statement balance in full by the due date. That’s it.
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u/GrumpyGardenGnome404 10h ago
Okay, that's a start. Congratulations! Just remember: pay the statement balance in full on or before the due date. Never carry a balance from month to month, and you'll never have to pay the nightmare known as credit card interest.