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A little background info for ya'll first. I got my first credit card through my credit union in college in 2009, it is still at the initial $500 CL. I recently graduated college this year and held a part-time job while I was studying for the LSAT and putting together my applications for law school. During this time I applied and received a Capital One Cash Rewards card with a CL of $2000 and a AMEX Zync. I will start law school this August, and would like to get two more credit cards before I start. Being in school I don't plan on spending that much money. But I will be using these cards to pay utilities, groceries, gas, books, and eating out. I don't plan on doing much spending outside of this. I always pay my balances off in full every month and plan to keep this habit.
I was looking at the Chase Freedom and the Citi forward. However, these kind of overlap and you also have to remember I already have the Capital1 cash rewards that gives me 1.5% back. I was looking at the Citi Diamond which offers a good APR, in case I do have to carry a balance for awhile. I also want to look at the long term too, because when I graduate I would like to get the AMEX BCE. So this rules out student cards too. So my question is, what two credit cards would benefit me most now and in the long term picture too?
Also when you suggest what cards I should look at could you also suggest the items I should use each card for. Ie captial1 to pay bills, citi forward for food, etc.
Than you for your time
@Anonymous wrote:A little background info for ya'll first. I got my first credit card through my credit union in college in 2009, it is still at the initial $500 CL. I recently graduated college this year and held a part-time job while I was studying for the LSAT and putting together my applications for law school. During this time I applied and received a Capital One Cash Rewards card with a CL of $2000 and a AMEX Zync. I will start law school this August, and would like to get two more credit cards before I start. Being in school I don't plan on spending that much money. But I will be using these cards to pay utilities, groceries, gas, books, and eating out. I don't plan on doing much spending outside of this. I always pay my balances off in full every month and plan to keep this habit.
I was looking at the Chase Freedom and the Citi forward. However, these kind of overlap and you also have to remember I already have the Capital1 cash rewards that gives me 1.5% back. I was looking at the Citi Diamond which offers a good APR, in case I do have to carry a balance for awhile. I also want to look at the long term too, because when I graduate I would like to get the AMEX BCE. So this rules out student cards too. So my question is, what two credit cards would benefit me most now and in the long term picture too?
Also when you suggest what cards I should look at could you also suggest the items I should use each card for. Ie captial1 to pay bills, citi forward for food, etc.
Than you for your time
I'm not sure what you mean by Chase Freedom and Citi Forward overlapping. I carry Forward, Freedom, and BCE and use Forward for restaurants/cafeteria (at work), Freedom for whatever the 5% categories are, and BCE for groceries, gas (if not Freedom), and everything else. If you spend a lot on gas and groceries, consider BCE now. Forward is great for restaurants especially if you go out a lot.
Even though the Chase Freedom and Citi Forward overlap each other in a few cases (Amazon?), I think they're worthwhile. The forward is great for dining out, seeing the movies, while the Freedom IMO is a great all around card, especially for spending on gas and online purchases (through Ultimate Reward mall)
As for BCE, if you don't have any negative items on your reports, I think you have a good chance of getting it after about 6 months - 1 year of good history with the Zync. Although it also depends on your AAoA if you decided to apply for other cards before the BCE.
+1 on BCE, Freedom, and Forward. I've been using this combo for awhile and it covers most of the big spending categories, including online purchases with UR Mall. I'm averaging just about 3% cash back across all purchases each month.
My kid is in his first year of Law School and not allowed by the school to even hold a job. He has one credit card he got back when he was working on his two BA's at TTU and he paid it off first before taking on the Law School financial drain. I guess what I'm saying is don't get in to deep with two many credit cards unless your in the position to keep a good payment history going .The ABA will be looking at many things and your credit history is just one of them . Sorry I'm a mom I'll hush now...lol
@Braydon wrote:My kid is in his first year of Law School and not allowed by the school to even hold a job. He has one credit card he got back when he was working on his two BA's at TTU and he paid it off first before taking on the Law School financial drain. I guess what I'm saying is don't get in to deep with two many credit cards unless your in the position to keep a good payment history going .The ABA will be looking at many things and your credit history is just one of them . Sorry I'm a mom I'll hush now...lol
+1 That is very good advice. I am also a professional student and don't charge what I can't pay off at the end of each month. If you use credit wisely the benefits are pretty nice - a little extra cash back for things you would otherwise pay for with cash or debit, extended warranties and returns, helps you keep track of spending, fraud protection, etc. Plus it helps you build good credit for a mortgage, auto loan, and other expenses down the line.
Thank you everyone for your advice! Say if I do get the Forward and the Freedom, is it worth even using my Capital11 Cash Rewards card for any purchases? I am not worried about my Zync, because I mostly obtained that card to get my foot in the door with AMEX.