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As someone mentioned, don't make getting a new card your goal, make improving your FICO score a goal. The biggest "rush" if you will, at least for me, is seeing my scores go higher and higher and doing what i have to do to keep them that way - which usually means leaving everything ALONE, and paying my bills on time. This game is long term, afbar, not short term. Even having a goal of a new credit card in a year is short term thinking for a short term desire. Focusing on improved FICO scores allows you to think long term. There are long term credit decisions like mortgages, better insurance rates accorss the board, funding a new start up business, buying a brand new car, continuing education, and other life goals that you should consider which will require better FICO scores. A new 3-5% revolving category credit card where you can save a few pennies is not a life goal. It's rubbing two nickels together to try and make a quarter that (minimally) benefits you short term, and the rewards are negligible at best.
Think how cool it would feel to be able to know that when you walk into any financial institution in the country with a 760+ FICO score, all else considered, you could get the best rates available for loans for the big things in life. The cards you desire are likely to require higher FICO scores than you have currently. A new credit card is merely instant gratification, whether it is applied for now or a year from now, and doesn't contribute (much) to your longer term financial and credit stability short term, especially since you already have a few prime cards. Am I saying not to get another card later? No. I'm just saying improving your score is a more complete goal to set that will benefit you more for life, rather than just focusing on the latest greatest plastic to add to your wallet.
^ GREAT RESPONSE..I AGREE
The problem with this thread is that even if we helped you choose a "plan", in about two weeks, you will have drummed up another three plans that you want to think about as well.
You're still suffering from the "DO SOMETHING" syndrome where you feel that you need to be doing something, even if there is nothing to do right now.
Since you can't really do anything today, you feel you can control the situation by at least planning what to do next. It's nice to set goals, but the goals you are setting is to "apply for a card" in a year. You've got plenty of living to do in the meantime as well, other than just thinking of what cards to app for.
So I'll echo the sentiments of a few others, in that you need to worry more about your score than the next cards.
Even if you're not apping, just talking about apping seems to be feeding into your itch and people's suggestions seem to be giving you somewhat of the satisfaction of an "approval".
I know you want to set goals, but right now, the only goal you need to set is garden and work with it as you go. Sometimes opportunities will just present themselves. The general consensus from people has always been to just garden the cards you have now and sit tight for a while. Because the plan you might have TODAY, could very well change within a year, let alone a few months from now.
Follow my financial journey: http://www.frugalrican.com
@android01 wrote:As someone mentioned, don't make getting a new card your goal, make improving your FICO score a goal. The biggest "rush" if you will, at least for me, is seeing my scores go higher and higher and doing what i have to do to keep them that way - which usually means leaving everything ALONE, and paying my bills on time. This game is long term, afbar, not short term. Even having a goal of a new credit card in a year is short term thinking for a short term desire. Focusing on improved FICO scores allows you to think long term. There are long term credit decisions like mortgages, better insurance rates accorss the board, funding a new start up business, buying a brand new car, continuing education, and other life goals that you should consider which will require better FICO scores. A new 3-5% revolving category credit card where you can save a few pennies is not a life goal. It's rubbing two nickels together to try and make a quarter that (minimally) benefits you short term, and the rewards are negligible at best.
Think how cool it would feel to be able to know that when you walk into any financial institution in the country with a 760+ FICO score, all else considered, you could get the best rates available for loans for the big things in life. The cards you desire are likely to require higher FICO scores than you have currently. A new credit card is merely instant gratification, whether it is applied for now or a year from now, and doesn't contribute (much) to your longer term financial and credit stability short term, especially since you already have a few prime cards. Am I saying not to get another card later? No. I'm just saying improving your score is a more complete goal to set that will benefit you more for life, rather than just focusing on the latest greatest plastic to add to your wallet.
I agree completely! Think of how nice it will be when you have all the credit you need, with the ability to get more, but you don't need it so why bother with the hassle