How long should i wait until i can apply for another credit card?

[TheRealJosh94]

Hello, 

This is my first post and I've been reading alot of great information and advice here on the forum. Well here's a little bit of information about me (if you wanted to know), I'm 18 and i got my first credit card, Capital one journeys the day after my birthday, this year (October). So far I've been under 30% utilization and been paying in full or more on time. I got my credit score today and its at 720, nothing amazing. I want to be at 800+ someday but i know that isnt going to happen anytime soon. I wanted to apply to a new credit card so i can have one more backup credit card, just in case i need it. However, i've been reading some bad reviews on many credit cards and that you need to wait 6 months to apply to a new one. I can wait 6 months so i can have a better history. I just waned some ideas on any real good cards out there that i may apply to later down the road. 

Thanks again, 

Josh 

[daybreakgonesXe]

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@TheRealJosh94 wrote:

Hello, 

This is my first post and I've been reading alot of great information and advice here on the forum. Well here's a little bit of information about me (if you wanted to know), I'm 18 and i got my first credit card, Capital one journeys the day after my birthday, this year (October). So far I've been under 30% utilization and been paying in full or more on time. I got my credit score today and its at 720, nothing amazing. I want to be at 800+ someday but i know that isnt going to happen anytime soon. I wanted to apply to a new credit card so i can have one more backup credit card, just in case i need it. However, i've been reading some bad reviews on many credit cards and that you need to wait 6 months to apply to a new one. I can wait 6 months so i can have a better history. I just waned some ideas on any real good cards out there that i may apply to later down the road. 

Thanks again, 

Josh 

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Honestly? With such a short history (aka before a year old, but with at least 6 months), go for another student card! I highly recommend the Discover It Student. Also, who do you bank with? If you bank with Bank of America or Wells Fargo, they also have student cards as well! They're easier to be approved for with short history and help you build that positive history and relationship to get regular prime cards down the road

[Cageym]

Keep paying and let it age a bit. Also since it's your only card right now let it report below 10% so it shows you actually use the card and don't just sock drawer it. That should give you a small boost in your scores.

[CreditWorld2013]

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@TheRealJosh94 wrote:

Hello, 

This is my first post and I've been reading alot of great information and advice here on the forum. Well here's a little bit of information about me (if you wanted to know), I'm 18 and i got my first credit card, Capital one journeys the day after my birthday, this year (October). So far I've been under 30% utilization and been paying in full or more on time. I got my credit score today and its at 720, nothing amazing. I want to be at 800+ someday but i know that isnt going to happen anytime soon. I wanted to apply to a new credit card so i can have one more backup credit card, just in case i need it. However, i've been reading some bad reviews on many credit cards and that you need to wait 6 months to apply to a new one. I can wait 6 months so i can have a better history. I just waned some ideas on any real good cards out there that i may apply to later down the road. 

Thanks again, 

Josh 

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Welcome to the forums! Where did you get the 720 score from? To get a real FICO score you need at least 6 Months of Credit History (Student Loans, Credit Card/s, Being an Authorized User, etc.) Given the fact that you just turned 18 I assume you have no negatives on your reports and this is your only account (are you an Authorized User on any accounts?). If that is the case you should keep doing what you are doing with the Joruney card. They should have enrolled you in the Capital One "Credit Steps" program and that means you should get an increase in your credit limit after the 5th-6th statement. After having this card for 6 Months to 1 Year (Even better if you are a College Student) you can apply for cards with most banks and get approved. (Citi, Chase, Discover, etc). Also keep in mind this can only work if you have some income. Good Luck!

[eviLution]

Where did you get your score from? It can't possibly be a Fico since you barely even have 3 months of credit history....

[edit]

damn you beat me to it! lol

[TheRealJosh94]

I had Capital one but i switch to PNC Bank. I applied to a Students Discover card but got declined because of no history. How many times can i reapply to that card, is there a limit? 

[daybreakgonesXe]

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@TheRealJosh94 wrote:

I had Capital one but i switch to PNC Bank. I applied to a Students Discover card but got declined because of no history. How many times can i reapply to that card, is there a limit? 

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There really isn't a limit, maybe 30 days after a decline? But if you wait for the Capital One Journey to report the 6th statement, you should be as good as gold for the Discover Student card again

[CreditWorld2013]

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@TheRealJosh94 wrote:

I had Capital one but i switch to PNC Bank. I applied to a Students Discover card but got declined because of no history. How many times can i reapply to that card, is there a limit? 

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There is no real "limit" to the amount of times you can apply for any card...the only downside is some will auto-deny if you have them within a specific time frame (30 days, 60 days, 3 months, etc) Also you will be getting an inquiry everytime you apply for any credit which starts hurting your score (in this case this won't hurt that much as you are only starting and don't have much of a score to "hurt."

Was "no history" the only reason for denial with Discover? What income can you claim? Do you have any Checking/Savings accounts? When did you apply for Discover and have you tried to recon with Discover. 

[TheRealJosh94]

I got it from Credit Karma, i know it only does Transunion but dont all 3 credit bureaus report almost the same number? If not then nvm. I'll get again in 6 months, sorry about that! 

[TheRealJosh94]

Oh okay thats good to know! Then i will definitely try again later down the road!