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What should I do now?

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DFStudent
Valued Member

What should I do now?

Hey everyone!

 

Back in December, I was approved for both a Discover IT and a BCE (limits below in signature, scores there as well). Currently a senior in college, 22 years old. I'm thinking it's probably a good idea to garden for a bit considering I have those two new accounts. After 61 days, I'm going to apply for the 3X CLI w/ AMEX and see what happens. 3X my current limit is $16,500, which seems like a lot of credit that wouldn't match the other cards I have. I think I'll go in for just $15,000 and see what happens. What do you guys think? 

 

Also - I'm thinking I might apply for another card, but I'm not sure what. I've been thinking of Chase Freedom, perhaps, and maybe a charge card from AMEX. Once I get further established in the credit world (I'm getting there!), I will probably apply for a VS card.

 

Let me know what ya'll think. Any advice/assistance is greatly appreciated.

 

-DFS

    $12,400              $20,000           $10,000             $6,000               $4,700               $5,800            $1,050 (AU)
Suncoast CU VISA - $2500, BOA BBR VISA - $1000 || EX - 778 (12/13), EQ - 764 (12/13), TU - 763 (12/13) || Grad Student
Message 1 of 8
7 REPLIES 7

Re: What should I do now?

Wow!

 

Off to a terrific start. Good work.

CHASE CSP 0/11000***PENFED PLAT REWARDS SIGNATURE 0/17000***CAP ONE VENTURE ONE 0/10000***AMEX BLUE SKY 100/11000***AMEX DELTA GOLD 0/5500***CHASE AA ELITE WORLD MASTERCARD 0/3500***LOTS OF OTHERS IN SOCK DRAWER
Message 2 of 8
DFStudent
Valued Member

Re: What should I do now?


@Iwillgetthereeventually wrote:

Wow!

 

Off to a terrific start. Good work.


Thanks, I appreciate it. I've had credit since roughly 2008 since I was an AU on my parents' gas card, but have had my own credit since 2010.

    $12,400              $20,000           $10,000             $6,000               $4,700               $5,800            $1,050 (AU)
Suncoast CU VISA - $2500, BOA BBR VISA - $1000 || EX - 778 (12/13), EQ - 764 (12/13), TU - 763 (12/13) || Grad Student
Message 3 of 8
FastForward
Frequent Contributor

Re: What should I do now?

As for your question re: the 3xCLI with AmEx, why not just request for the full $16,500 and see what happens? I believe they will counter if not approved for that full amount. JMO

Agree that Chase Freedom would be a nice addition to your portfolio, if you're looking for another cash back CC. Since you already have a Discover and AmEx, I'd definitely suggest you look into a Visa or MC as your 3rd CC -- like the Chase Freedom, Barclay Sallie Mae, Citi Dividend.
If you travel on a regular basis, perhaps consider a card with cash back benefits for travel (with no FTF), like the Barclay Arrival or Capital One Quicksilver, as your 3rd card.
Anyway, just a few suggestions. And yes, I think a 3rd revolver would be beneficial for your credit file in the long run. Not sure if a 4th would be necessary.....for at least another 6 months after attaining your 3rd.
Good luck and congrats on your success thus far! Great start!
AmEx PRG (NPSL) | AmEx BCP (10k) | AmEx Blue Cash (1k) | AmEx SPG (3.5k) | Barclay Arrival WMC (7.5k) | Barclay Sallie Mae (1.5k) | Cap1 QS (2k) | Chase Freedom (1k) | Discover IT (4.5k) | InTouch (Local) CU MC (5k) | InTouch (Local) CU LOC (25k)

Citi/Best Buy (AU) (1.5k) | Citi/Best Buy (7.5k) | Comenity/Crate & Barrel (4k) | Comenity/Restoration Hardware (9k) | GE/Ethan Allen (2.5k) | Synchrony Bank/Banana Republic (3.3k) | Synchrony Bank/Gap (3.3k) | Synchrony Bank/Walmart (3.3k)

myFICO scores ~ 691 (EQ) 670 (EX) 712 (TU) || Goal scores: 750+ (all 3)
Message 4 of 8
DFStudent
Valued Member

Re: What should I do now?


@FastForward wrote:
As for your question re: the 3xCLI with AmEx, why not just request for the full $16,500 and see what happens? I believe they will counter if not approved for that full amount. JMO

Agree that Chase Freedom would be a nice addition to your portfolio, if you're looking for another cash back CC. Since you already have a Discover and AmEx, I'd definitely suggest you look into a Visa or MC as your 3rd CC -- like the Chase Freedom, Barclay Sallie Mae, Citi Dividend.
If you travel on a regular basis, perhaps consider a card with cash back benefits for travel (with no FTF), like the Barclay Arrival or Capital One Quicksilver, as your 3rd card.
Anyway, just a few suggestions. And yes, I think a 3rd revolver would be beneficial for your credit file in the long run. Not sure if a 4th would be necessary.....for at least another 6 months after attaining your 3rd.
Good luck and congrats on your success thus far! Great start!

I don't travel all that much, so maybe I should put off applying for a travel card until I actually start to do it? Barclay Sallie May or Freedom seem like winners so far. What do you think about getting an AMEX charge card? I'm trying to have a variety of accounts and such. 

    $12,400              $20,000           $10,000             $6,000               $4,700               $5,800            $1,050 (AU)
Suncoast CU VISA - $2500, BOA BBR VISA - $1000 || EX - 778 (12/13), EQ - 764 (12/13), TU - 763 (12/13) || Grad Student
Message 5 of 8
Creditaddict
Legendary Contributor

Re: What should I do now?

1. Yes to Barclay and freedom.

2. No Amex charge... You won't spend enough to make it worth it.

3. Apply for full 3x cli, they will counter!

Message 6 of 8
DFStudent
Valued Member

Re: What should I do now?

Is the SM Barclay really worth it? Anyone have it? I don't have student loans, and the only thing I would put on here is groceries (but the AMEX covers that cash back). Gas is covered through Shell card.

    $12,400              $20,000           $10,000             $6,000               $4,700               $5,800            $1,050 (AU)
Suncoast CU VISA - $2500, BOA BBR VISA - $1000 || EX - 778 (12/13), EQ - 764 (12/13), TU - 763 (12/13) || Grad Student
Message 7 of 8
Creditaddict
Legendary Contributor

Re: What should I do now?


@DFStudent wrote:

Is the SM Barclay really worth it? Anyone have it? I don't have student loans, and the only thing I would put on here is groceries (but the AMEX covers that cash back). Gas is covered through Shell card.


Then skip!

Message 8 of 8
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