Help Me w/ My 1st UnSecured Card PLEASE

[FiveOhFour]

Hi Folks. Ok So at the beginning of 2014 I discovered that there was such a thing as a Secured Card that i could get to start building a credit history, that was the only option to me as i had a few Medical Collections on my Credit history since the day i turned 18 so i was never able to establish credit at all, since then I've contribued Positive Payment Data on my 2 Secured cards every month and no longer have any Collections on my Reports with any CRA. I had been an Authorized User on a Sears Card but it had 2 missed payments a few years back, or one missed payment for 60 days, so i terminated my authorized user status and the 2 secure Cards are my only credit cards. Capitol One automatically raised the Limit without an additional deposit from 200 to $500 a while back, and as my Credit score has Shot up I've gotten all types of continually better Credit Card Offers. My FICO Scores are EQ: 777  TU: 781  EX: 734 . 

Please help me as far as applying for Credit Cards. Which Ones Should i apply for and how many? I currently am applying mostly to just build my credit further, i currently only ever charge what i can pay off and never go above 30% on any card i have. My income is currently only about $35,000 a year, but i live with family and have essentially no expenses at all, no major ones at least. My goal is to build my credit and have nice cards with high limits for myself in the future when i may need to use them. Anyway, I've got a QuikSilver that I am "Pre-Approved" for, and some others that i am PreQualified for, i Show A Chase Freedom and Chase Slate Card and maybe more that show up on Chase's PreQualified Site, i have received A couple Citi Card Mailers but they appear to be only Invitations to apply, a Discover.IT one, and a Bank Of America Card offer. 

What should i do, Which do i apply for, which are the "best" etc etc. i need advice. I am not too worried about the rewards and all of that simply because I will be spending so little on each card, at least until my limits are significantly higher, that the rewards matter little to me, but would still like the best cards i can get obviously, do i apply for the best or go for sure bets or whats my strategy here. 

UPDATE: Actually I am getting ahead of myself, i do have one single collection left on Experian and Equifax, its a medical collection for $35 that is set to fall off in May, though i was considering paying it, but that may affect your input for me, sorry for misspeaking. Zero collections on Transunion. 

[Anonymous]

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@FiveOhFour wrote:

Hi Folks. Ok So at the beginning of 2014 I discovered that there was such a thing as a Secured Card that i could get to start building a credit history, that was the only option to me as i had a few Medical Collections on my Credit history since the day i turned 18 so i was never able to establish credit at all, since then I've contribued Positive Payment Data on my 2 Secured cards every month and no longer have any Collections on my Reports with any CRA. I had been an Authorized User on a Sears Card but it had 2 missed payments a few years back, or one missed payment for 60 days, so i terminated my authorized user status and the 2 secure Cards are my only credit cards. Capitol One automatically raised the Limit without an additional deposit from 200 to $500 a while back, and as my Credit score has Shot up I've gotten all types of continually better Credit Card Offers. My FICO Scores are EQ: 777  TU: 781  EX: 734 . 

Please help me as far as applying for Credit Cards. Which Ones Should i apply for and how many? I currently am applying mostly to just build my credit further, i currently only ever charge what i can pay off and never go above 30% on any card i have. My income is currently only about $35,000 a year, but i live with family and have essentially no expenses at all, no major ones at least. My goal is to build my credit and have nice cards with high limits for myself in the future when i may need to use them. Anyway, I've got a QuikSilver that I am "Pre-Approved" for, and some others that i am PreQualified for, i Show A Chase Freedom and Chase Slate Card and maybe more that show up on Chase's PreQualified Site, i have received A couple Citi Card Mailers but they appear to be only Invitations to apply, a Discover.IT one, and a Bank Of America Card offer. 

What should i do, Which do i apply for, which are the "best" etc etc. i need advice. I am not too worried about the rewards and all of that simply because I will be spending so little on each card, at least until my limits are significantly higher, that the rewards matter little to me, but would still like the best cards i can get obviously, do i apply for the best or go for sure bets or whats my strategy here. 

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If Kure not looking for anything like a travel rewards card, I'd suggest that you stick with a cash back card.  That would be the Quicksilver which gives you a straight 1.5% cash back.  The Chase Freedom also is a good choice as it gives you cash back or points based on quarterly rotating categories.  Either one would a good card for you to start out with.

[Anonymous]

With your scores you can have whatever you want! I would start with Discover, chase and capital one! I wish i had your scores! Have fun choosing! 

[FiveOhFour]

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@Anonymous wrote:

With your scores you can have whatever you want! I would start with Discover, chase and capital one! I wish i had your scores! Have fun choosing! 

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Thanks for your input, i just updated the OP i misspoke, i do actually have a single medical collection for a $35 copay with Exprian and Equifax that falls off in May of this year, so any day now hopefully. Obviously my scores are still great but with the limited history i have regardless of score does that change your advice at all? Also, do i reply for a few in a short period of time or whats the best practice in that regard? 

[Anonymous]

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@Anonymous wrote:

With your scores you can have whatever you want!

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LoL, true.

[FiveOhFour]

Thank you, It looks like I am Pre-Approved for the Quiksilver. As far as Chase goes Freedom or Slate? I dont really see the difference besides a 1% lower rate and the latest slate offer i got says it comes with a free FICO Score. 

[FiveOhFour]

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@Anonymous wrote:

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@Anonymous wrote:

With your scores you can have whatever you want!

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LoL, true.

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I never got into Pokemon as a kid, but eventually Credit Cards will be my Pokemon...Gotta Catch em All...the good ones at least, dont even need to use them just collect them

[Anonymous]

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@FiveOhFour wrote:

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If You're not looking for anything like a travel rewards card, I'd suggest that you stick with a cash back card.  That would be the Quicksilver which gives you a straight 1.5% cash back.  The Chase Freedom also is a good choice as it gives you cash back or points based on quarterly rotating categories.  Either one would a good card for you to start out with.

Thank you, It looks like I am Pre-Approved for the Quiksilver. As far as Chase goes Freedom or Slate? I dont really see the difference besides a 1% lower rate and the latest slate offer i got says it comes with a free FICO Score. 

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If you go with Chase, definitely go for the Freedom.  The Slate is designed as a balance transfer card and has no other use.  Freedom is by far one of the best all around type cards.

[Anonymous]

Go over all the rewards on the cards you like.  Remember Cap One likes a lot of usage.  Then decide what you would use the most.  Have fun! 

[Anonymous]

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@FiveOhFour wrote:

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@Anonymous wrote:

With your scores you can have whatever you want! I would start with Discover, chase and capital one! I wish i had your scores! Have fun choosing! 

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Thanks for your input, i just updated the OP i misspoke, i do actually have a single medical collection for a $35 copay with Exprian and Equifax that falls off in May of this year, so any day now hopefully. Obviously my scores are still great but with the limited history i have regardless of score does that change your advice at all? Also, do i reply for a few in a short period of time or whats the best practice in that regard? 

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If it falls off in May, wait for it to fall off?  That's less than a month.  Pay your balances down below 10% by then.

Then my other advice is to app in a spree.  Get a bunch at a time so one hand doesn't know what the other is doing right away.

You have 2 approaches ... quality or quantity.  

If you opt for Quality, Barclay/Citi/USBank...maybe 3-4 cards before they get nervous.  These guys get spooked by new accounts/inquiries

Or quantity ... go for the less easily spooked lenders like AMEX, Discover, CapitalOne, Synchrony, NFCU, Chase, Commenity.  These guys are more forgiving and care more about high debt rather than new inquiries.  You could probably get 6-10 cards without facing AA.

My credit build with 720+ scores would be :

AMEX x2 (1 charge, 1 revolver)

Chase x2 cards (Freedom + whatever)

CapitalOne Venture (high limit) + Quicksilver (1.5% Cashback)

Walmart (for the free FICO and easy CLI)

NFCU for sure if you're military related

Commenity Shopping Cart soft pull with high limits like Sportsman's Guide, Overstock, Serta

Maybe a Lowe's for the future

You'll most likely have to garden for a year after this but you would have added like $25-50K+ credit in 1 spree.

Once you've amassed credit, you can go after the finicky lenders a couple at a time.  That way you get early volume and take the AAoA hit and be done with it.