Next Step for Student Credit Profile

[CruzImperial]

Hello, I´ve been reading the forums since I got out of high school and finally decided to join. I´m currently a 19 year old student with an AAoA of 15 months. I´ve been using my cards and paying them off every month. The only one I carry a balance on is Ranas. This is what I´ve got so far from oldest to newest:

BoA (AU) $500  10/08

Discover (Student) $1000  03/11

Cap One (Student) $500   03/11

GE/Ranas Furniture $2500 12/11

GE/HHgregg Applnc $5000 07/12

My current utilization ratio is 11% btw  I´m waiting for 4 inquiries to fall of my report in 9 months, leaving me with only one(in TU). By that time, my AAoA will be exactly 2 years. I´m curious as to what my next move should be. I´ve considered applying for Citi Forward (Student) card, but seeing how I don´t have any relationship with Citi yet, makes me doubtful. 

I could really use some advice. I thought of getting another Discover card but changed my mind since they won´t give me a CLI no matter what lol. any recommendation is greatly appreciated! thanks

[Anonymous]

Assuming you have some income, Citibank student card is good. You might qualify for Amex zync as well. I highly recommend getting member dates with Amex set as early as possible. Even if you cancel zync later, your member date will be set for future amex's.

[Anonymous]

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@CruzImperial wrote:

Hello, I´ve been reading the forums since I got out of high school and finally decided to join. I´m currently a 19 year old student with an AAoA of 15 months. I´ve been using my cards and paying them off every month. The only one I carry a balance on is Ranas. This is what I´ve got so far from oldest to newest:

BoA (AU) $500 

Discover (Student) $1000 

Cap One (Student) $500  

GE/Ranas Furniture $2500

GE/HHgregg Applnc $5000

My current utilization ratio is 11% btw  I´m waiting for 4 inquiries to fall of my report in 9 months, leaving me with only one(in TU). By that time, my AAoA will be exactly 2 years. I´m curious as to what my next move should be. I´ve considered applying for Citi Forward (Student) card, but seeing how I don´t have any relationship with Citi yet, makes me doubtful. 

I could really use some advice. I thought of getting another Discover card but changed my mind since they won´t give me a CLI no matter what lol. any recommendation is greatly appreciated! thanks

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I would try to get a CLI with BOA & Cap One, ONLY if they don't do a hard pull. You have to be careful because sometimes the agents aren't trained and they tell you it will be a soft pull, only to find out it was a hard pull. If they don't budge, I would go for the Amex Zync (which I got a few days ago and really do like) or a Citi Student Platinum Dividend (I've had it for a few years now and have had generous increases. I'd only go for these when they inquiries fall off though.

[CruzImperial]

Thanks for the really fast replies. I took a look and right now these goodies look really really nice:

AMEX Zync - if I´m not approved for the Costco one. Though this one doesnt report CLs!

AMEX True Earnings (Costco)

Citi Forward (Student)

Citi Platinum Dividend (Student)

GE/City Futniture - just to see if they give me another 5K to help with the utilization ratio.

I have tried several times and for some reason, my CLs with BOA, Discover and Cap One are stuck.. not a single raise granted since they were opened.

Btw, can I apply for all of them on the same day? Would it affect the outcome?

Any other toughts are well welcomed! =)

[Anonymous]

Do not app for Costco first. If rejected, you need to wait 1 month to app for any Amex. Zync then Costco. You are marginal candidate for Amex revolver like Costco as your income is likely low and your credit file if fairly new. Yes zync has no credit line as it is charge card that needs to be paid in full every month. But read forums, lots of good advice on advantages of Amex charge cards. Btw, you didn't mention what our income looks like. Need to know that to give more advice.

[CruzImperial]

Thank you so much for your input. I appreciate it. My income is 18k/year working in a retail store + i like repairing pcs and working in the weekends with my dad as a handyman to earn me some extra cash around the year(idk if I can report that as income)
I may be able to make a co-joint application for costco to ensure my approval if you think its a good idea.
I am looking forward to make good relationships with amex. Btw, would getting a chase card, hopefully a student one, prove dificult for someone like me?

[aamex]

Honestly, I wouldn't app for anything else. If you don't need it, don't app for it.

Discover is a good company and the CL will grow with you. I think four cards is more than enough, because eventually you won't be a student...and having "Student" cards won't fit your pay or your lifestyle. So, as a recent graduate myself, I would say build your savings. You've established credit, now just let it age. If you make 18k a year...you should ideally be saving 1,800k at a minimum. Thats only 150 bucks a month, right now you're probably paying more than that a month in cc bills.

So in my opinion, the next move is no move.

[CruzImperial]

Thanks aamex. Well, as things go right now, I dont really need any credit because I pif every month. Only debt is 6-7 months old ranas with $900 left.
Cap one takes care of my netflix account and gets paid the next day.
Discover is a hassle to have. 3-4 payments a month is getting old really quick.
My current cards dont fit my lifestyle. Besides, I am trying to have a good mix of credit with a good looking score for when I need to use them. I will have zero inqs in record.. so if theres a chance, why not?
I realize I'm not saving anything though.Thanks for the valuable advice. Hopefully nothing goes the wrong way with some backup.
Suggestions are gladly taken. Anyways, I will wait until May 2013 comes to strike back and see where I stand x) 

Thanks everyone!!

[jsucool76]

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@CruzImperial wrote:
Thank you so much for your input. I appreciate it. My income is 18k/year working in a retail store + i like repairing pcs and working in the weekends with my dad as a handyman to earn me some extra cash around the year(idk if I can report that as income)
I may be able to make a co-joint application for costco to ensure my approval if you think its a good idea.
I am looking forward to make good relationships with amex. Btw, would getting a chase card, hopefully a student one, prove dificult for someone like me?

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Chase no longer offers any student credit cards, just a quick piece of info. 

[Anonymous]

Go for Amex this year so you get 2012 member date.