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Applying for Credit Cards

September 8th, 2022 at 01:28 pm


MM(19) applied for a credit card today and received a $1,000 limit.  That is much more useful than his $500 limit.  He has an excellent credit score but income is the limiting factor.  So we just crossed our fingers and tried.  (I guess when he turns 21, we can count parental support, but we can't now if we aren't on the card?  Weird rules.  Something to keep in mind when he turns 21).  

My plan is to shut this other card down, once he gets that all squared away.  I got it solely for him to manage and use, but it is in my name.  

This is a step re: getting him more self sufficient.  I would have kicked him off my credit card when he turned 18, if it had been practical.  

While in credit card mode, I applied for a credit card for DL(17).

Both these cards will have a $200 up front bonus.  

MM(19) went for $200 bonus + 1.5% cash back on everything.  He was more interested in the bonus because he doesn't spend much.  I told him we could try but didn't know if he would be approved for some of these "excellent credit" credit cards, re: his short credit history.  Now we have our answer...

For DL(17) I opened a credit card in MH's name.  Just to spread it out.  Added DL as an authorized user.  They gave MH some ridiculous credit limit but we will get it reduced. 

I will let the kids try to get their own bonuses.  They each need to spend $500.  MM(19) is skeptical but will see how expensive groceries are.  DL(17) should have his first auto insurance bill soon (~$500).  I mostly got him this reward to help offset that. But I will charge something on each of their cards if they need help.  They have 3 months to spend $500 and to get their $200 bonus.


MM(19) is going to get his I Bonds purchased this week or next.  

I am just looking through his financial records.  He did get that cell phone refund and ended up paying a net $188 (with taxes) for his new phone.  He's very pleased with that upgrade.

He's done with his summer job.  He made just over $5,000.

Total cash = $10,700

Minus $500 he wants to keep in his 7% account.

& he needs to keep $100 minimum in his 3% account.

Minus whatever he doesn't want to tie up for a year.

I think he will at least move $5K over to I Bonds (is what he has had tied up in high yield savings account for some years).  & I think he'd be fine with $7K - $8K.  He doesn't have any car expenses during the school year and he will make ~$1,500 at his fall campus job.  

The decision is up to him.  Will see what he comes up with.

His job was only part time (allowing him to do some long travel weekends) and he has two full weeks off before he goes back to school.  All his friends went back to school some weeks ago.  So nothing too exciting planned.  Mostly packing and prepping for school.  Might take his brother on a hike/outing if the weather relents.


Our city had its highest temp ever on Tuesday.  116F degrees.  🥵

We are used to a dry heat but it was a little humid on Tuesday.  & made the temperatures feel more extreme.  

My work sent home all construction workers at noon, which I don't recall ever.  Not during a normal dry heat 110 couple of days, but this is more prolonged and extreme.  MH also got sent home and is being paid for his full shift this week.  He's maybe working 3 hours a day but getting paid for 5 hours.  Which is nice because they didn't have that much work for him anyway.  

High temps are supposed to last through Friday.

1 Responses to “Applying for Credit Cards”

  1. rob62521 Says:

    Wow, that's hot and with humidity thrown in...yikes!

    Good deal on the credit cards!

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