Next CC recommendations

[B335is]

I would put Amex at the top of your list.  While I agree with themanwhocan, it's also important to get your MSD locked in at an early stage - you'll appreciate it 15 years down the road.

[Jungook]

I suggest the SallieMae Mastercard for its generous 5% cash back on food/gas/bookstores (including Amazon).

Then couple that with the American Express EveryDay as arguably the best no-AF AMEX card especially when paired with the SallieMae.

[Anonymous]

What exactly does having an older MSD do, and is there any real benefit to it? Also, to lock in 2014 as the MSD does anyone know when would I have to apply by?

I'm definitely looking to add either the BCE/ED Amex. It's kind of a mixed bag when it comes to opinions on which is better, so we'll wait and see. The Sallie Mae card seems like it would be a good addition. If I get approved for these then I will be able to cancel my student card that gets me nothing rewards wise 

Lastly, would it be a bad idea to app for one of the Amex cards and Sallie Mae at the same time?

[hizzaah]

MSD is the year you joined Amex. Amex is the only company who will backdate ever card you open with them to your original MSD. This is important because in 5 years when you open another Amex, it'll count as a 5 year old trade line. This helps your Average Age of Accounts which is part of determining your credit score. Applying before the end of the year should count for this year. 

I would app for Sallie and then Amex, just to be safe. Good luck!

Also, I wouldn't cancel the student card unless it has an annual fee. It'll add to your AAoA and utilization, even if only a little bit. 

[Anonymous]

I knew what AAoA was, I didn't know that their backdating reported a new card opened as a tradeline that was from the MSD of your first card. I deinitely see the use of it now.

Is the Sallie card generally regarded as harder to get? Or is it because they don't like seeing multiple apps around the same time you app for their card?

I suppose it wouldn't hurt to keep the student card, it doesn't have any annual fee but I rarely use it as is. With more cards I don't see myself using it at all.

[B335is]

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@Anonymous wrote:

I knew what AAoA was, I didn't know that their backdating worked reported a new card opened as a tradeline that was from the MSD of your first card. I deinitely see the use of it now.

Is the Sallie card generally regarded as harder to get? Or is it because they don't like seeing multiple apps around the same time you app for their card?

I suppose it wouldn't hurt to keep the student card, it doesn't have any annual fee but I rarely use it as is. With more cards I don't see myself using it at all.

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Sallie Mae isn't particularly difficult to get as long as inquiries and utilization are in check.  You can google creditpulls and compare some other datapoints of applicants, but I've read people with 700 Fico score getting approved for it.

MSD with Amex is huge.  My date is 1998, so if I open a new card on January 1, 2015 it reports as open since January 1, 1998.