international travel charge

Just a note, even if after the fact, but good thing you went with chase and not Capital One. I was in your situation like 3 years ago ( a student in college and about to go to Europe for a summer business program thingy through my university) and already had a Chase Visa Credit Card - It was the black Student one - and I had had it for maybe 18 months, paying it off in full every month, and building my credit history, or so I hoped. Anyways, I applied to Capital One so I could save on overseas exchange fees and stuff, but when I called them, I inquired about what the credit limit would be for my new card, as I explained to them that a low limit was not going to do me any good as I was going to be in Europe and would be racking up a good amount on the card in a relatively short period of time. They said they couldn't/wouldn't know or tell me the limit until I agreed to get a card from them, but they implied that based on my credit history, the limit should be relatively up there (the entire range for the card I was applying for was like $300-$5000 or something). So I agreed to sign up for the card. When I received the card like 3-4 days later, I called to activate and was informed I had been given a $300 limit. I then called cust. service to see why the hell it was a $300 limit card as that clearly didn't do me any good and to see if I could get the limit raised right then. They gave me the runaround and bullshit about not deciding the limit manually and how some program does it or w/e. I told em to screw off and cancel the card right then. I won't use capital one ever. So just be wary. Especially considering that I had a decent (probably 600s) credit history when I applied for the card, you probably wouldn't have much luck getting a card with anything but the minimum limit at Capital One, based purely on my own experience.

Quote from colgancm : Just a note, even if after the fact, but good thing you went with chase and not Capital One. I was in your situation like 3 years ago ( a student in college and about to go to Europe for a summer business program thingy through my university) and already had a Chase Visa Credit Card - It was the black Student one - and I had had it for maybe 18 months, paying it off in full every month, and building my credit history, or so I hoped. Anyways, I applied to Capital One so I could save on overseas exchange fees and stuff, but when I called them, I inquired about what the credit limit would be for my new card, as I explained to them that a low limit was not going to do me any good as I was going to be in Europe and would be racking up a good amount on the card in a relatively short period of time. They said they couldn't/wouldn't know or tell me the limit until I agreed to get a card from them, but they implied that based on my credit history, the limit should be relatively up there (the entire range for the card I was applying for was like $300-$5000 or something). So I agreed to sign up for the card. When I received the card like 3-4 days later, I called to activate and was informed I had been given a $300 limit. I then called cust. service to see why the hell it was a $300 limit card as that clearly didn't do me any good and to see if I could get the limit raised right then. They gave me the runaround and bullshit about not deciding the limit manually and how some program does it or w/e. I told em to screw off and cancel the card right then. I won't use capital one ever. So just be wary. Especially considering that I had a decent (probably 600s) credit history when I applied for the card, you probably wouldn't have much luck getting a card with anything but the minimum limit at Capital One, based purely on my own experience.

I agree, Capital One sucks.

But, if you have bad/no credit, in many cases they are the only bank that will issue you an unsecured card.

Quote from omghaxcode : $1200 is that decent for a first card? I honestly don't know

That is really good! I'm surprised to be quite honest. Congrats! Did you get the $300 cashback too?

Quote from colgancm : Just a note, even if after the fact, but good thing you went with chase and not Capital One. I was in your situation like 3 years ago ( a student in college and about to go to Europe for a summer business program thingy through my university) and already had a Chase Visa Credit Card - It was the black Student one - and I had had it for maybe 18 months, paying it off in full every month, and building my credit history, or so I hoped. Anyways, I applied to Capital One so I could save on overseas exchange fees and stuff, but when I called them, I inquired about what the credit limit would be for my new card, as I explained to them that a low limit was not going to do me any good as I was going to be in Europe and would be racking up a good amount on the card in a relatively short period of time. They said they couldn't/wouldn't know or tell me the limit until I agreed to get a card from them, but they implied that based on my credit history, the limit should be relatively up there (the entire range for the card I was applying for was like $300-$5000 or something). So I agreed to sign up for the card. When I received the card like 3-4 days later, I called to activate and was informed I had been given a $300 limit. I then called cust. service to see why the hell it was a $300 limit card as that clearly didn't do me any good and to see if I could get the limit raised right then. They gave me the runaround and bullshit about not deciding the limit manually and how some program does it or w/e. I told em to screw off and cancel the card right then. I won't use capital one ever. So just be wary. Especially considering that I had a decent (probably 600s) credit history when I applied for the card, you probably wouldn't have much luck getting a card with anything but the minimum limit at Capital One, based purely on my own experience.

Basically what phonic said. They aren't a good card company, at all, but they will most likely bend over backwards to at least get you started.

Quote from dzap : That is really good! I'm surprised to be quite honest. Congrats! Did you get the $300 cashback too?

I got $100 cashback. Is there a $300 cashback offer?

Quote from omghaxcode : I got $100 cashback. Is there a $300 cashback offer?

You did well for a first card. I would be very happy with any money back and with a $1200 limit for a first card. Once you build up some more credit, you can always complete another offer in the future to get cash back for spending (as detailed in the credit card threads on here)

Is it true I shouldn't spend more than 30% of my limit? The Chase banker I spoke to said 40-45% but I've read on these forums 30% is the most I should spend. Can I spend 30% then pay it off mid month and spend another 30%?

Quote from omghaxcode : Is it true I shouldn't spend more than 30% of my limit? The Chase banker I spoke to said 40-45% but I've read on these forums 30% is the most I should spend. Can I spend 30% then pay it off mid month and spend another 30%?

People's opinions and the "facts" can vary on how much you show max out in regards to Debt-to-Credit Ratio. I think 45% is kind of high, I would personally go with the 30% (or less) number.

What's important is what your balance is when your statement period closes. The amount you actually spend, assuming you pay it off prior to this date, is irrelevant.

So for example, if you spend $1200 on your $1200 CL card within the first week, pay it off in full, spend another $1200, pay it off in full, etc., etc., and then have a $0 balance come the end of the billing cycle, your reported balance will be $0 on a $1200 CL account - which is 0% utilization. The same would go for a partial payment (ie: spend $1200, pay off $800 before the cycle ends = 25% utilization).

Assuming you can routinely charge/pay over a give month, it will actually help your chances of getting a CL increase.

Just make sure the billing period (not calendar month) ends with a low balance.

I spend a lot more than $360 a month. ($550 on rent + $700 on everything else) Is the best way to get rewards then to just pay off everything right away?

Quote from omghaxcode : I spend a lot more than $360 a month. ($550 on rent + $700 on everything else) Is the best way to get rewards then to just pay off everything right away?

Rewards are based off of how much you spend on the card in total, not what your balance is at the end of the billing period or how you pay it off. So the best way to get the most rewards is to charge as much as possible. Paying off your balance in full ahead of time simply helps your credit report/score. It also lets you spend more in a given month of your CL is lower then your spending.

Are you able to pay your rent on a credit card? Most places do not allow this due to the hefty processing fees.