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New to Credit, what should I get next?

New Contributor

New to Credit, what should I get next?

I'm usually just a browser on the forums so this is my first post!

 

I'm a college student right now at a four year university and I hold two credit cards so far. Wells Fargo Secure @ $500CL (will most likely be graduated to an unsecured card soon) and Capital One Student Journey @ $500CL (will get it raised to $750). Now I'm not thinking about becoming a hobbyist or carrying more than 3~4 credit cards until I graduate and get a higher paying job. But I do want to hold at least one more card to help rebuild credit and garner some loyalty with a prime lender.My credit scores last time I checked (a month ago) is in the low 700s for TU and EQ. Currently unable to check EX scores but I can assume that they would be in the low 700s as well. 

 

So my question is what card should I aim for within this year? I'm thinking about cards with some good rewards/cash back but I'm not a big spender. I keep a low utilization and mainly spend money on books, eating out, and shopping when my paycheck allows for it. 

 

My current thoughts are:

Chase Freedom

Citi Rewards, or

An American Express Card [not that I go to Costco often]

 

Any suggestions?

 

EDIT: And definitely no annual fees and APR doesn't matter since I PIF each month.

Message 1 of 27
26 REPLIES
Valued Contributor

Re: New to Credit, what should I get next?

Credit score at this point is useless for you. You can have 750 FICO score and still be denied because your credit history is way too short.

 

I'd recommend Citi Forward, nothing else.

Message 2 of 27
New Contributor

Re: New to Credit, what should I get next?

Hmm how long should my AAoA be until I can apply for some prime cards?

 

I've heard of people on this forum being approved for Chase Freedom with low credit scores but not sure about their AAoA.

Message 3 of 27
Established Contributor

Re: New to Credit, what should I get next?

What is your AAoA? If more than a year, you could go for Discover More, Citi forward (if instantly approved, might as well shoot for dividend on same day) or Chase Freedom. All options for students, of course.

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Message 4 of 27
New Contributor

Re: New to Credit, what should I get next?

It's one year and one month.

 

Unfortunately I'm current an international student in the process of a getting a green card so Citi will not issue me a CC unless I visit a branch. Problem is there are no branches in my state. *sigh* So at this point only Chase and AMEX will give out credit to non-residents. 

 

Just curious though, what AAoA does AMEX like to see? And why is it so popular if there aren't many stores that take it? I've seen from other CC review websites that Chase Freedom is one of the best CCs out there with the highest review.

Message 5 of 27
Moderator

Re: New to Credit, what should I get next?


mrwheezy117 wrote:

It's one year and one month.

 

Unfortunately I'm current an international student in the process of a getting a green card so Citi will not issue me a CC unless I visit a branch. Problem is there are no branches in my state. *sigh* So at this point only Chase and AMEX will give out credit to non-residents. 

 

Just curious though, what AAoA does AMEX like to see? And why is it so popular if there aren't many stores that take it? I've seen from other CC review websites that Chase Freedom is one of the best CCs out there with the highest review.


Amex Zync is only about six months (and is pretty much Amex's non-prepaid student card), with a year you'd be fine.  Depends where you live, near me I've found exactly one place in the last year which doesn't accept Amex cards (in Los Angeles).

 

Chase Freedom is a good default CC for a lot of people, and it's pretty easy to obtain compared to many others as it covers everything from moderate subprime to high prime with their limits and terms.

 

I'd recommend either in your case, Freedom is admittedly a better card in most respects for everyday use, but Amex comes with some benefits later which you'll want later too.

 

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 741, EX 2 776, EQ 8 809, TU 8 774, EX 8 822 (1/1/18)
Goal Score:    EQ 5 771, TU 4 750, EX 2 776, EQ 8 809, TU 8 774, EX 8 822 (01/01/19)


Take the myFICO Fitness Challenge
Message 6 of 27
Established Contributor

Re: New to Credit, what should I get next?


mrwheezy117 wrote:

It's one year and one month.

 

Unfortunately I'm current an international student in the process of a getting a green card so Citi will not issue me a CC unless I visit a branch. Problem is there are no branches in my state. *sigh* So at this point only Chase and AMEX will give out credit to non-residents. 

 

Just curious though, what AAoA does AMEX like to see? And why is it so popular if there aren't many stores that take it? I've seen from other CC review websites that Chase Freedom is one of the best CCs out there with the highest review.


I don´t see how they would reject you. All you need is a SSN and proof of enrollment for the summer/fall of this year. Call them anyways and find out if someone in your position can apply for their cards. Just to give you an insight, my AAoA was 17 months when citi and amex took me and had one recent acc (1 month old). Oldest tradeline 45 months.

 

You should really go for amex within this year so later on you can backdate your future amex cards to 2012. Besides, I am yet to see a place that takes Discover and not Amex.

 

Good luck man !

 

 

Fico Scores: . Walmart TU 748 . Garden 8/19 2014 .

Cap One Journey 500 | Discover IT 500 | GE Home Design 5.6k | GE HHGREGG 5k | Amex Zync NPSL | Amex BCE 6k | Citi Forward 4.2k | Citi Dividend 3k | GE BrandsMart 1k | GE Lowes 8.5k | Discover Walmart 7.5k | Barclays Apple 2.5k | BoA CR 2.7k | CSP 7.2k | Platinum Prestige 5k | IT Chrome 4k | Slate 2.3k |
Message 7 of 27
New Contributor

Re: New to Credit, what should I get next?

Yeah unfortunately some banks will ask if you have a green card or not to determine if they even want to lend credit. While Citi doesn't disqualify you completely, they would like a face to face meeting before they approve any credit. Too bad there aren't any branches in North Carolina.

 

I prefer to stay away from the Zync card since there is an annual fee associated with it. As for Chase vs AMEX. Why would Chase be better for every day usuage compared to the AMEX Blue Cash Everyday?

Message 8 of 27
Frequent Contributor

Re: New to Credit, what should I get next?

North Carolina really doesnt have many national banks from what I see... Ive only actually ever seen Wells Fargos, BofAs, and Firt Citizens banks in this state.

Lender pulled 10-10-13
EQ Fico 715 | EX Fico 714 | TU Fico 703
Message 9 of 27
Established Contributor

Re: New to Credit, what should I get next?

I would first try the Citi Forward but since that isn't an option I would apply for the zinc card.  If you get it you can backdate later and get a revolver. GL 

BOA: 8.9k
CSP: 5k
Discover: 5k
Citi TY Preferd: 5k
Wally: 5k
JCP: 4.9k
citiForward: 4.7k
ChaseFreedom: 4.5k
DFS: 2k
Message 10 of 27