Congratulations to P4 on her graduation.
Very nice - congrats to the family 
Congrats! I know how you feel since my own kids have been very responsible as they start their journeys.
All my kids started with either Savor or Quicksilver. My older kids didn't have the benefit of being an AU on my cards, so they only got Quicksilver, but my next ones all qualify for Savor right out of the gate. Great keeper card.
BCE is also a great long term keeper card, but your offspring may need to wait a bit since AmEx isn't in the habit of issuing student cards or to those with young files.
Maybe try Savor now and then BCE 6 months from now? That'd be a heck of a trio for a young'un: CR+, Savor, BCE!
@Vinjints wrote:Got a text from P4 this morning that her NFCU Secured card has graduated, and I must say, I am a proud papa. She app'd and was approved in January for a $500 secured card. They bumped her 3-4 months later to $900. In April we also co-signed her first car loan. And now she's bumped to a 2k unsecured limit. She's deathly afraid of paying interest, and at least for a time, was paying the card every time a charge posted.
So now I have to figure out my next steps to help/guide/teach, without pushing her to places she may not be comfortable with. I know I want to share about Navy's CLI rules, and getting to the CR+. Benefits of increasing credit limits vs. risks of getting into trouble. Benefits of adding a second, and eventually third card on either a different network and/or different FI. We'll see how it goes. Anything vital I may be missing? (trying not to overdo it with her)
Also, any objections or additions to this list of potential next cards whenever she's ready: More Rewards, BCE, Savor, CCC. I have also seen Chase Freedom Rise and Disco It Student as recommendations for early cards. Are they still recommended once the initial card has been established?
Congrats to P4 and her proud Papa! You got her off to a great start. I think you have a prudent plan laid out. Explain to her the pros and cons you identified in your second paragraph. That's plenty of information to make good decisions without overwhelming her with too many things to think about. My personal opinion would be to have her get 6 months of experience with the unsecured $2k limit. If she does well, then ask for a CLI which would likely take her to $6k if her income is sufficient. Once she has that larger limit, go for both the Freedom Rise and Discover it Student at the same time to diversity financial institutions. Both cards are for people with thin or non-existent files, so odds for approval are high. That would give her 3 cards plus an auto loan tradeline to establish a solid credit profile base. Then, let those accounts age for another 6-12 months. By that time, she will have a better idea of the types of cards and rewards she might like to pursue. She might also decide that those few accounts are all she wants to deal with for the time being.
