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Should I get another credit card?

New Visitor

Should I get another credit card?

For some background I'm 22 years old and I just started working at my first fulltime job. I am wondering if I should get another credit card or just stick with the ones I have. According to Credit Karma my score is 710

 

Current-

Capital One MC Platinum -$750 limit - about 4 years old

Victorias Secret Angel Card -$1100 limit - about 2 years old

American Express Blue Sky Preferred -$2200 limit - about 1.5 years old

Walmart Discover - $1800 - Just got it last month (financed an Ipad)

 

So none of these cards have great rewards and all of the APRs are around 22%, I don't plan on closing any of them but would like one main card to use for most expenses.

 

Currently I have 3 or 4 hard inquiries on my account (I just financed a car)

 

I was considering getting one of those travel rewards cards that has the annual fee waived for the first year and get all the new bonus deals, then cancel it after a year and repeat? Or dont cancel it?

 

 

Message 1 of 5
4 REPLIES
Moderator Emerita

Re: Should I get another credit card?

Welcome to the forum!

Have you requested a CLI on your Amex? I'd PC the Blue Sky to either a BCE orBCP depending on your spending pattern. If you haven't asked for a CLI yet, ask.
Freedom, Discover It and Quicksilver are all nice reward cc's. I would have suggested a Barclay product but they seem to be a little prickly to new inq's.
Message 2 of 5
Super Contributor

Re: Should I get another credit card?


lma0423 wrote:

For some background I'm 22 years old and I just started working at my first fulltime job. I am wondering if I should get another credit card or just stick with the ones I have. According to Credit Karma my score is 710

 

Current-

Capital One MC Platinum -$750 limit - about 4 years old

Victorias Secret Angel Card -$1100 limit - about 2 years old

American Express Blue Sky Preferred -$2200 limit - about 1.5 years old

Walmart Discover - $1800 - Just got it last month (financed an Ipad)

 

So none of these cards have great rewards and all of the APRs are around 22%, I don't plan on closing any of them but would like one main card to use for most expenses.

 

Currently I have 3 or 4 hard inquiries on my account (I just financed a car)

 

I was considering getting one of those travel rewards cards that has the annual fee waived for the first year and get all the new bonus deals, then cancel it after a year and repeat? Or dont cancel it?

 

 


Welcome to the forum and bravo for being 22 and managing to build a nice profile it speaks volumes

Since you are a Amex customer and if you don't carry balances I would look at gold and plat charge cards

I'm sure others will also have great idea's for you as well 

 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 3 of 5
New Visitor

Re: Should I get another credit card?

Thanks!

 

Yea I requested one a few months ago and it went from 2000 to 2200 :/

 

Also what is a "PC"? I would consider upgrading my Amex to the Blue Card Everyday, but I don't want the Blue Sky to be cancelled, just upgraded, is that possible?

Message 4 of 5
Super Contributor

Re: Should I get another credit card?

Is your Blue Sky the Blue Sky Preferred (as you list)?  With a $75 AF?  If the rewards from that card aren't what you need, then people are suggesting you "Product Change" the card to a BCP/BCE.   This basically replaces one card with another, keeping the history and avoiding another app and a new account.  (Downside is that you don't get any bonuses that apply to people getting the new card, but with Amex rules you might not get them anyway).

Message 5 of 5