topic Re: What card should I get next? in Credit Cards

What card should I get next?

Anonymous — Tue, 23 Mar 2021 16:24:04 GMT

Hey guys, I'm 18 years old and will be 18 for another five to six months. My parents grew up with bad credit and poor financials, so I wanted to be different watched credit card videos like a complete degenerate in the library while I was in high school. As soon as I turned 18, I got my Chase Freedom with a 1.5k credit limit (hit the sign up bonus). I go to college and took out two loans, both for $1,250 so $2,500. I'm not planning of paying them off soon since they are so small, and two, I have no interest on them for another three years. So July I got my Freedom (later product changed to Freedom Flex to take advantage of the cell phone Insurance). In October, I applied for my first AMEX card, I got approved for the Amex Blue Cash Everday (hit that sign up bonus with each Christmas shopping) and I got a 1.9k limit on that (I later requested a credit limit increase, even though I should've gone for a higher on, I put 4k and got approved instantly). In December, I applied for the Freedom Unlimited, got denied, but called the recon line and got approved but literally only for $500, so that was sad. Anyways, hit that sign up bonus quick since Chase is nice with sign up bonuses. Then last but not least, I work at Chick-fil-A and whenever I swipe those AMEX charge cards its insane (note: I have swiped only on AMEX black card and three J.P. Morgan Reserve Cards) <Those were legendary experiences. I applied for the AMEX Gold Card and was so surprised I got approved, but it is a charge card so I guess. I'm halfway hitting the sign up bonus and it's going to be nice. Anyways, I'm at 4/24 and don't really know what card to get next as a full-time student, part-time worker, and individual who is invested into maximizing credit card rewards and investments. I'm stuck on which card to get next after I finish my remaning spend on my Gold Card. AMEX says I have around a 695 FICO score, when using Vantage, Credit Karma says I'm 705 TU and 714 EQ. Chase's Credit Journey says I'm at 698.

Re: What card should I get next?

Anonymous — Tue, 23 Mar 2021 16:35:40 GMT

Probably another Chase, or Barclays card, since those have 5/24 and 6/24 rules

Re: What card should I get next?

Remedios — Tue, 23 Mar 2021 16:59:36 GMT

@Anonymous wrote:
Hey guys, I'm 18 years old and will be 18 for another five to six months. My parents grew up with bad credit and poor financials, so I wanted to be different watched credit card videos like a complete degenerate in the library while I was in high school. As soon as I turned 18, I got my Chase Freedom with a 1.5k credit limit (hit the sign up bonus). I go to college and took out two loans, both for $1,250 so $2,500. I'm not planning of paying them off soon since they are so small, and two, I have no interest on them for another three years. So July I got my Freedom (later product changed to Freedom Flex to take advantage of the cell phone Insurance). In October, I applied for my first AMEX card, I got approved for the Amex Blue Cash Everday (hit that sign up bonus with each Christmas shopping) and I got a 1.9k limit on that (I later requested a credit limit increase, even though I should've gone for a higher on, I put 4k and got approved instantly). In December, I applied for the Freedom Unlimited, got denied, but called the recon line and got approved but literally only for $500, so that was sad. Anyways, hit that sign up bonus quick since Chase is nice with sign up bonuses. Then last but not least, I work at Chick-fil-A and whenever I swipe those AMEX charge cards its insane (note: I have swiped only on AMEX black card and three J.P. Morgan Reserve Cards) <Those were legendary experiences. I applied for the AMEX Gold Card and was so surprised I got approved, but it is a charge card so I guess. I'm halfway hitting the sign up bonus and it's going to be nice. Anyways, I'm at 4/24 and don't really know what card to get next as a full-time student, part-time worker, and individual who is invested into maximizing credit card rewards and investments. I'm stuck on which card to get next after I finish my remaning spend on my Gold Card. AMEX says I have around a 695 FICO score, when using Vantage, Credit Karma says I'm 705 TU and 714 EQ. Chase's Credit Journey says I'm at 698.

Hi and welcome to the forums

You're 18, and you have 4 cards. I think you should be done for a year, perhaps even longer.

Your next app has a decent chance of being a denial or another unusable toy limit.

I get the part where you might find some cards visually impressive or believe there is wealth behind them, that's frequently not the case (JPM being the exception).

For charge cards, a pulse will do (along with a willingness to pay AF), and half the threads on this forum are dedicated to closing them because "I just can't make it work" after SUB romance is over.

Once your cards age, you build enough payment history and avoid pitfalls you observed with your family, you will have a better idea on cards that are suitable for your financial needs, not the esthetics or perceived prestige of having a heavy wallet.

Re: What card should I get next?

summerterrace — Thu, 25 Mar 2021 23:19:35 GMT

I would hold off for a while, build up your credit by using and paying off those cards. Once you have another year or so under your belt, add a cash back card (maybe a double cash, or a 1.5%). I would avoid paying anymore annual fees, as category spend multipliers don't offset high annual fee cards unless you are spending thousands of dollars per year on the card.

Good for you paying attention to your credit early. You are way ahead.