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@Anonymous wrote:The fact you even have to contact EO for a CLI is ridiculous.
I've had three CLI's on my QS1, and I've never had to contact EO. Two were done by Cap One, and one I requested. The CL is still low, though.
Just want to add a little to my comment since you're similar to me age-wise. Don't let anyone tell you that you shouldn't get a ton of cards. If you're saying that because you want to practice self-control then by all means do so. However, I am 25 and have 26 accounts reporting, 24 of which are credit cards. My FICO score has taken a hit because 9 inquiries are considered recent but my score still stands at 716. If I open any accounts in my life after I hit 30 years old they won't even make a dent in my AAoA and score. Just because you have a lot of cards doesn't mean you can't achieve all of your goals in time. Utilization is easier to manage and you establish relationships with all of the creditors. I have 67.5k in available credit and have never gone above 7% util and always PIF. By the time I'm 30 I envision a score over 800 and the best loan terms imaginable. Do your thing but since you're young you have the advantage and possibility of building a strong and stable foundation others may not have been so lucky to begin with. Establish a relationship with AMEX as soon as possible too!
@Anonymous wrote:
@JamesB95 wrote:I already have a Cap One Journey on the way..
But, I can make it work.
Does Amex offer users the option to design their own cards with a custom image? I like how Capital One let me do that for free.
NO.
They are very proud of their designs (CapOne obviously isn't..)
All those cards are good cards, but I would say if I were you you I would desire them in the order you listed them. Amex first by a good margin, then Chase, then Cap 1. Amex is a good lender and you want to start your relationship as early as possible to establish your MSD and to start doing the countdown for your CLI. Now, It's debatable if high limits will beget another high limit. But if you can get your Amex and get your limit up to 3x higher within the first year or even earlier, then you're off to a good start. Chase is good too, and Cap one, despite the drawbacks (triple pull / high apr), has good rewards with this card.
OTOH your score is around 615. So you might have to work your way up. In that case you may have to start with Cap 1 and work towards Amex as I did. But, if you can get it with Amex first then do so.
@Anonymous wrote:Just want to add a little to my comment since you're similar to me age-wise. Don't let anyone tell you that you shouldn't get a ton of cards. If you're saying that because you want to practice self-control then by all means do so. However, I am 25 and have 26 accounts reporting, 24 of which are credit cards. My FICO score has taken a hit because 9 inquiries are considered recent but my score still stands at 716. If I open any accounts in my life after I hit 30 years old they won't even make a dent in my AAoA and score. Just because you have a lot of cards doesn't mean you can't achieve all of your goals in time. Utilization is easier to manage and you establish relationships with all of the creditors. I have 67.5k in available credit and have never gone above 7% util and always PIF. By the time I'm 30 I envision a score over 800 and the best loan terms imaginable. Do your thing but since you're young you have the advantage and possibility of building a strong and stable foundation others may not have been so lucky to begin with. Establish a relationship with AMEX as soon as possible too!
As long as they aren't toy limit store cards, this is great.
@JamesB95 wrote:I already have a Cap One Journey on the way..
But, I can make it work.
Does Amex offer users the option to design their own cards with a custom image? I like how Capital One let me do that for free.
Dude, my Cap 1 Journey looks like a watermelon. It's pretty funny to me, but don't think about that stuff as there are bigger fish to fry than this. I've since PC'd this card to the QS doing the same calculation as Nixon; I didn't want to trade a 100 dollar bonus for a triple pull and didn't want 3 Cap 1 cards that they will never ever merge.
I could take or leave AMEX honestly.
If you can get a foot in the door with Chase, by all means jump on the oportunity for whichever card suits your needs.
Avoid Crapital one like the plague. No redeeming qualities whatsoever. 1.5% makes no sense when 2% is available elsewhere and there's no reason to be cashing in $0.35 cents worth of rewards at a time anyway.
@Anonymous wrote:Just want to add a little to my comment since you're similar to me age-wise. Don't let anyone tell you that you shouldn't get a ton of cards. If you're saying that because you want to practice self-control then by all means do so. However, I am 25 and have 26 accounts reporting, 24 of which are credit cards. My FICO score has taken a hit because 9 inquiries are considered recent but my score still stands at 716. If I open any accounts in my life after I hit 30 years old they won't even make a dent in my AAoA and score. Just because you have a lot of cards doesn't mean you can't achieve all of your goals in time. Utilization is easier to manage and you establish relationships with all of the creditors. I have 67.5k in available credit and have never gone above 7% util and always PIF. By the time I'm 30 I envision a score over 800 and the best loan terms imaginable. Do your thing but since you're young you have the advantage and possibility of building a strong and stable foundation others may not have been so lucky to begin with. Establish a relationship with AMEX as soon as possible too!
Thanks.
The main reason I do not want to, or am scared to apply to anymore is due to having 10 pulls on my CK account, so far. I tried applying for loans/cards and it added up fast. I am still learning the credit ways is why I joined this place. I do not want to end up like the rest of my family with horrible credit. So, I am taking charge and learning early.
@JamesB95 wrote:
@Anonymous wrote:Just want to add a little to my comment since you're similar to me age-wise. Don't let anyone tell you that you shouldn't get a ton of cards. If you're saying that because you want to practice self-control then by all means do so. However, I am 25 and have 26 accounts reporting, 24 of which are credit cards. My FICO score has taken a hit because 9 inquiries are considered recent but my score still stands at 716. If I open any accounts in my life after I hit 30 years old they won't even make a dent in my AAoA and score. Just because you have a lot of cards doesn't mean you can't achieve all of your goals in time. Utilization is easier to manage and you establish relationships with all of the creditors. I have 67.5k in available credit and have never gone above 7% util and always PIF. By the time I'm 30 I envision a score over 800 and the best loan terms imaginable. Do your thing but since you're young you have the advantage and possibility of building a strong and stable foundation others may not have been so lucky to begin with. Establish a relationship with AMEX as soon as possible too!
Thanks.
The main reason I do not want to, or am scared to apply to anymore is due to having 10 pulls on my CK account, so far. I tried applying for loans/cards and it added up fast. I am still learning the credit ways is why I joined this place. I do not want to end up like the rest of my family with horrible credit. So, I am taking charge and learning early.
Definitely garden your current accounts and wait some time for your scores to build up.
@Anonymous wrote:All those cards are good cards, but I would say if I were you you I would desire them in the order you listed them. Amex first by a good margin, then Chase, then Cap 1. Amex is a good lender and you want to start your relationship as early as possible to establish your MSD and to start doing the countdown for your CLI. Now, It's debatable if high limits will beget another high limit. But if you can get your Amex and get your limit up to 3x higher within the first year or even earlier, then you're off to a good start. Chase is good too, and Cap one, despite the drawbacks (triple pull / high apr), has good rewards with this card.
OTOH your score is around 615. So you might have to work your way up. In that case you may have to start with Cap 1 and work towards Amex as I did. But, if you can get it with Amex first then do so.
I have a Cap One on the way in the mail (Journey). I plan to apply for a Amex once I improve my score.
Sorry my FICO isn't exactly accurate in my sig.. I can't edit my sig with images in it since I am still considered a "New Member" for whatever reason.... My FICO score is 623. My next update is this month, the 15th. Feb will have a big jump because my utilization will be down.