topic Re: Next Card? in Credit Cards

Next Card?

Anonymous — Fri, 21 Jun 2019 19:23:57 GMT

I started with the Discover it Student card to build my credit. I got the AmEx Gold card about 6 months ago and I am looking to get my next card. I was thinking I should start applying towards Chase because of the 5/24 rule. Any specific card I should choose? I would prefer not to have another card with an annual fee but if it is necessary I am fine with that.

Re: Next Card?

Anonymous — Fri, 21 Jun 2019 19:23:56 GMT

Couldn't answer that broad question w/o knowing what you currently have and what you spend your money on or your Fico scores.

Re: Next Card?

Anonymous — Fri, 21 Jun 2019 19:27:52 GMT

I updated my question to give you a little more context. I did not mean to upload it so quickly.

Best Starter Chase Card for 5/24 Rule

Anonymous — Fri, 21 Jun 2019 19:56:55 GMT

Need help deciding what should be my starter chase card for the 5/24 rule. I currently have the Discover it Student card with 6k CL, and then AmEx Gold.

Re: Next Card?

Anonymous — Fri, 21 Jun 2019 20:02:18 GMT

Need a good base earning card.

freedom unlimited if you eventually wants to get into travel reward.

citi double cash if you think you will do almost no travels.

Re: Next Card?

simplynoir — Fri, 21 Jun 2019 20:38:05 GMT

Without more info like your spending habits I think you can't go wrong with Freedom card. Category spending and doesn't conflict with CSP/CSR since you already have a dinning card in the Gold. Can work together with the IT card as you get through school so there's no forced spending persay.

Re: Next Card?

Streetervillelady — Fri, 21 Jun 2019 20:53:05 GMT

@Anonymous wrote:
I started with the Discover it Student card to build my credit. I got the AmEx Gold card about 6 months ago and I am looking to get my next card. I was thinking I should start applying towards Chase because of the 5/24 rule. Any specific card I should choose? I would prefer not to have another card with an annual fee but if it is necessary I am fine with that.

If you like Chase and travel look at their Sapphire cards. They both have annual fees, but those can be offset.

Re: Next Card?

CYBERSAM — Fri, 21 Jun 2019 21:00:18 GMT

Who do you bank with? If you are with a CU because you got fee'd for every stupid thing you didn't know it existed from normal big bank then go through your local CU credit card.

Its not going to be a "Reward" fancy card but its going to be 1/3 of APR that you would pay on new reward cards!

Also establishing credit with your local Credit Union would help you down the road getting loans for everything else.

Thats just my thoughts on that and I wish I did that instead of getting every shiny card that came out with close to 30% interest rate 😳

BUT if your looking to brag and look cool front of your friends then go with some metal card or something 😎 Cap1 Venture has/had and Chase got some nice looking ones too!

Re: Next Card?

simplynoir — Fri, 21 Jun 2019 21:17:38 GMT

So, @CYBERSAM, you're attributing your own circumstances to the OP's when it seems that person has a better handle on their finances based on their two cards and good scores. If the poster shows responsible usage then there's no need to lecture someone on how to use credit. The AMEX Gold card, for example, requires PIF assuming they're not using Pay Over Time with no regards to APR so I would like to think they know what they are doing. They are simply asking with Chase's rules regarding applications what is a good starter card for a student so when they graduate and start working they can be better off going for travel rewards cards such as the CSP/CSR that may better fit their needs down the line.

If you do not feel bothered answering the original query the OP had then perhaps it was better not to say anything especially if it cannot be communicated in a FSR manner as per the forum's guidelines.

Thank you for reading.

Re: Next Card?

CYBERSAM — Fri, 21 Jun 2019 21:45:26 GMT

@simplynoirI made it very clear in last part: "Thats just my thoughts". EVERYONE is here to share thier thoughts and experience to help each other out. How you may use that, its entirely up to you. I have shared my views and experience over the years and continue to do so. If someone can benefit from it than great. Because I have many times the same way.

Re: Next Card?

etatauri — Fri, 21 Jun 2019 21:55:17 GMT

Probably start with the Freedom Unlimited. Their intro 1 year returns are 3x points, then 1.5x after that. When you think you will travel within a year you can apply for the Saphire Preferred or Reserve to get the sign up bonus. After your travel is done you can downgrade it to the Freedom to avoid the annual fee.

I myself am getting the Unlimited next week to have a general spending card.

Re: Next Card?

ChargedUp — Fri, 21 Jun 2019 22:34:57 GMT

I'll second the Freedom Unlimited as a great general spend card, especially if you think Chase's Ultimate Rewards program would be of benefit to you. In the future, you could compliment it with a CSP/CSR to maximize your point value.

Re: Next Card?

HeavenOhio — Sat, 22 Jun 2019 00:22:33 GMT

Don’t apply for a Chase card unless your oldest card is at least a year old and your youngest card is at least three months old. Your newer card is fine, but we don’t know the age of your older card.

Also, I’d hold off on a Sapphire product until your card profile is a bit older and thicker. If your oldest card is at least a year old, you should be fine for one of the Freedom cards.

Re: Next Card?

pinkandgrey — Sat, 22 Jun 2019 00:59:08 GMT

If you have over a year of history, the Chase Freedom or FU would probably be great all-around cards.

Re: Next Card?

Anonymous — Sun, 23 Jun 2019 19:01:27 GMT

My oldest card is right under 2 years old at the moment. I will look into the Freedom cards.

What are your thoughts on trying to go for a United Explorer/MileagePlus card or the Marriot Bonvoy cards? I fly with United enough that I was thinking some of the benefits would be helpful for me. What are your thoughts on any of these cards?

Re: Next Card?

Anonymous — Sun, 23 Jun 2019 19:12:50 GMT

First, I am not looking to brag in front of my friends. I personally pay every card in full every month and have never carried a balance so I am interested in the reward heavy cards because the APR does not matter when I am paying my cards in full every month.

Also, I already have a strong relationship with my local CU so thank you for your advice but you did not answer my question.

Re: Next Card?

Anonymous — Sun, 23 Jun 2019 19:13:29 GMT

Thank you I will look into both!

Re: Next Card?

Anonymous — Sun, 23 Jun 2019 19:14:31 GMT

Thank you for your super helpful response. I will definitely look into this card.

Re: Next Card?

Anonymous — Sun, 23 Jun 2019 19:17:21 GMT

The brand specific cards are fine if you're only using them for Primary payment to those brands. Outside of those brands they suck for earning anything on them.

CFU is 3% first year on ALL purchases. The only other card that is doing that would be Disco Miles.

If you get the CFU and pull 3% for the first year and then say next year decide to go CSP or CSR w/ Chase you can transfer the UR's to the airline of your choice. Plus if you apply for either card you get a bonus as well.

Re: Next Card?

Anonymous — Sun, 23 Jun 2019 19:18:06 GMT

Thank you @simplynoir, I appreciate it.