@Kiproter wrote:
New to the forums, so please go easy on me. I'm currently 20 years old and have no credit history. I applied and was approved for my first student credit card last month (BoA, $700), and not soon after, the Discover it ($1250). I also want the Chase Freedom probably 6 or so months down the road, when I establish enough revolving credit for an approval from Chase.
But what I'm wondering is, what do I do after getting approved for a Freedom? Do I apply for more cards, or just keep the 3 I'm going to have for the foreseeable future? I have a steady income and plan to pay each statement off in full every month, and the only reason I have credit cards is for cash back rewards and to build credit history. If anybody could give me some insight, it would be great. Thanks!
Sounds like a reasonable plan to me! And as far as more cards thats up to you, let the 3 you have grow for 6-12 months first and if you NEED more cards feel free to get the ones that interest you. Some people on these boards have dozens and dozens of cards, and others (like myself) have 5-6. Its really about what works for you. You can use additional cards to pad your utilization, or just keep growing the credit lines on the cards you have...kinda depends on your plan for the future.
Also as far as paying in full every month, be sure to leave one card report 1-9% utilization (balance) this will help your score climb.
