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First post - 22 yrs old - lots of questions

tag
Creditaddict
Legendary Contributor

Re: First post - 22 yrs old - lots of questions

Since you know your TU is at least a 720 I would apply for the Barclay Sallie Mae RIGHT NOW (they will pull TU) probably give you a very nice starting limit and since you want to possibly buy a house in Dec. this would be way enough time for everything to age and no one would blink at the inq or the new account by then.

Message 11 of 31
Anonymous
Not applicable

Re: First post - 22 yrs old - lots of questions

So Sally is a good card? Is it meant for only students? Just never heard of it. 

Message 12 of 31
Creditaddict
Legendary Contributor

Re: First post - 22 yrs old - lots of questions


@Anonymous wrote:

So Sally is a good card? Is it meant for only students? Just never heard of it. 


no it's not meant for only students but outside of these boards it's a card that no one ever seems to know about and even here on the board it is under utilized as a fantastic card because it gives 5% on a lot of things and it doesn't rotate like Discover and Chase Freedom which makes it nice and your 2 categories you are looking for would be in that!

only if you were going to spend more than $250/month than I would say go with Chase AARP as it gives you 3% in those categories.... that is my go to card but that's just because me and barclay don't get along great right now but for you it would be great without a doubt!

Message 13 of 31
Anonymous
Not applicable

Re: First post - 22 yrs old - lots of questions

Tried to check for prescreened offers. 1 year ago I opted out so I can't see offers. I was literally getting 3-4 offers a week so I opted out because it was so annoying

Message 14 of 31
Anonymous
Not applicable

Re: First post - 22 yrs old - lots of questions


@Anonymous wrote:

Tried to check for prescreened offers. 1 year ago I opted out so I can't see offers. I was literally getting 3-4 offers a week so I opted out because it was so annoying


Opt back in

 

Message 15 of 31
Creditaddict
Legendary Contributor

Re: First post - 22 yrs old - lots of questions

just apply for sallie mae

Message 16 of 31
Anonymous
Not applicable

Re: First post - 22 yrs old - lots of questions

SallieMae or Citi double cash. I want something to buy most things with and pay off each month. So I guess gas, clothes, food, etc. 

Message 17 of 31
Anonymous
Not applicable

Re: First post - 22 yrs old - lots of questions


@Anonymous wrote:

SallieMae or Citi double cash. I want something to buy most things with and pay off reach month. So I guess gas, clothes, food, etc. 


"clothes" is not a category any credit card will have. 

 

I would say get the Sallie Mae, if more than half of your spending goes to gas, groceries and amazon. Otherwise, get the double cash. 

 

... Or get both

Message 18 of 31
Anonymous
Not applicable

Re: First post - 22 yrs old - lots of questions

Welcome to the board!

 

I'll second the other suggestions and say opt back in to the prescreened offers again. It's a great way to see what kind of card you might potentially be approved for, before taking a hard inquiry to apply for one. Amex, BoA, Chase, Citi, and a few of the other prime lenders even have a website where you can punch in some basic info and it tells you which ones you pre-qualify for.

 

IMO, straight cash back cards like the Citi Double Cash or Fidelity American Express (my personal everyday spending card) are the way to go. Both cards I mentioned have no annual fee and will give you 2% back on everything. Think about where you shop as well-- for example, your card might give 5% on groceries but if you buy groceries in Costco and Walmart (i.e. not grocery-only retailoers) they will not be coded as grocery purchases and you won't get the 5%. Once you build up credit, of course, you can have multiple cards-- a category card for groceries/gas, and a 2% back card for all else :-D

 

I work for a mortgage lender and your FICO is good. Generally you see the same pricing at 740 vs. anything higher. Get a new card soon, then leave everything alone until December when you buy a house. If your FICO is 732 now it will surely be 740+ at that point.

 

Good luck!

Message 19 of 31
Anonymous
Not applicable

Re: First post - 22 yrs old - lots of questions


@Anonymous wrote:

Welcome to the board!

 

I'll second the other suggestions and say opt back in to the prescreened offers again. It's a great way to see what kind of card you might potentially be approved for, before taking a hard inquiry to apply for one. Amex, BoA, Chase, Citi, and a few of the other prime lenders even have a website where you can punch in some basic info and it tells you which ones you pre-qualify for.

 

IMO, straight cash back cards like the Citi Double Cash or Fidelity American Express (my personal everyday spending card) are the way to go. Both cards I mentioned have no annual fee and will give you 2% back on everything. Think about where you shop as well-- for example, your card might give 5% on groceries but if you buy groceries in Costco and Walmart (i.e. not grocery-only retailoers) they will not be coded as grocery purchases and you won't get the 5%. Once you build up credit, of course, you can have multiple cards-- a category card for groceries/gas, and a 2% back card for all else :-D

 

I work for a mortgage lender and your FICO is good. Generally you see the same pricing at 740 vs. anything higher. Get a new card soon, then leave everything alone until December when you buy a house. If your FICO is 732 now it will surely be 740+ at that point.

 

Good luck!


There are quite a few Walmarts that code as grocery store and count for 5% with Sallie. 

Message 20 of 31
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