$31,000 Income w/ 770 Credit Score

[BC1989]

I'm still new to the credit world and I was wondering what credit card(s) should I apply for and get approved? And ideal credit limits would be nice.

27yrs old
Clean Credit Report
770+ Credit Score
$31,000 Annual Income (monthly exp: $1,000)
2 years at current job

[HeavenOhio]

Do you have any cards currently? If not, what's in your history that would have caused you to generate a score, e.g. auto loan, student loans, or whatever?

[BC1989]

Navy Federal rewards $2000 limit. And just paying things on time really (nothing special)

[Anonymous]

What is the age of your oldest account?  Is the one account you mentioned the only on your report?  If so your AoOA is also equal to your AAoA.  These factors can be more important than your income and how long you've been at your current job really isn't relevant.  Also, what is the utilization on your current $2000 card?  Since that's your only card, your card utilization IS your aggregate utilization, a factor that makes up 30% of your score.  You want this number to be between 1% and 8%, meaning you want a balance of say $5 up to $160 to be reported on that card before applying for additional cards to give yourself the best approval terms.

When it comes down to cards, it really depends on what (categories, travel, etc.) you plan to use them on.

[HeavenOhio]

Definitely follow BBS's advice on utilization. If it's a little high right now, get your Navy card to report a lower balance and apply next month. And as BBS says, the age of your Navy card is important. Some lenders, notably Chase and Citi like to see some age and probably thicker files.

Working with the information we have, I'd avoid cards that have high minimum credit limits. As examples, the Captial One Venture and the Chase Sapphire Preferred have $5,000 minimum limits. With a $31,000 income, you should eventually be able to obtain cards with limits in the $5,000-plus range. But for now, your "experience" with only a $2,000 limit would likely hold you back.

Cards you might want to take a look at include the Capital One Quicksilver, Capital One Premier Dining Rewards, and Bank of America Cash Rewards. People tend to be able to get them with fairly thin files. Discover might be a possibility too, although I'd feel better if I had a second card with a bit of history before applying with them.

[newhis]

I always recommend Discover and Amex, you can increase the limit with SP.

[Anonymous]

What about increasing the limit on your Navy Fed account first to make your thin profile more impressive to the lender you would want to apply with. I think both your income and score supports it. Let the new CL report. Lowered utilization as suggested by BBS. I think would position you in getting better cards with great SL. Just an opinion

[Anonymous]

I agree with newhis. Discover I believe likes thin files.  Would not hurt to to see if could prequalify.  Amex the I thought would want more than 1 card in the profile before approval. Of course there is  the long term rebuilder/ respactable Capital One QS.  You could see if you prequalify for this one also.   

[Gmood1]

Yeah Discover is a good one. If you are a member of USAA. And in a state with the Limitless available. That would be an awesome card to add! Straight cash back with no hassle.

[Gregory1776]

Check out Discover, Amex. Soft pull CLI’s can grow with years.