Next cards

[Anonymous]

Hi all,

   I've been working on getting my credit in shape for the last year and a half or so. Initially, in preparation for a new car loan which I received at the end of May. I've now had my Discover cash back card for a full year(from $1200 to $3700) and I'd like to add two more to maximize my scores, then into the garden. Current  Fico8 scores are Ex727/Eq704/Tu720.

   My biggest spends are rent (large fee to pay with CC) and my new car payment (DCU auto withdrawal) so no luck using CC for those. I guess my next biggest spends would be Amazon and groceries. I had initially considered an Amazon card but I'm starting to read some negatives with regards to Synchrony so I'm unsure at this point. Also, considered a second Discover for another year of cash back match. Prequal offered a second card but I haven't pulled the trigger yet.

  Full disclosure, part of my goal in maximizing my scores is to put myself in a position to take advantage of any possible down turn in the real estate market. I'm in no rush but I'd like to be able to buy a house in the next year or two if something comes up. However, I'm not actively looking at this time.

  Any advice is appreciated. Any questions, just ask.  TIA

[AllZero]

I'm an advocate for credit unions. Also, it's good to diversify, e.g. NFCU, PenFed, etc. They offer a variety of different products; CC, auto, mortgage, etc.

CU's to join for Savings Rate now and possible Credit Products later! 

[KLEXH25]

We need to know a little more about your file. Do you have any lates, COs, BK? Have you checked any prequals first?

I wouldn't worry too much about Synchrony. I have their PPMC and it's been easy to grow and it's nice to get 2% off everything. I'm sure their Amazon card is similar. Also, check out Amex BCE for groceries.

CUs is also a good idea especially if you're thinking of a mortgage in a couple of years. Take a look at their rates and cards.

[Anonymous]

Thanks guys. No bankruptcies. One student loan charged off but paid in full. 7 student loan lines went to collections but all were rehabilitated and are current for the last t years. Roughly 3 years before all negs fall off.

Ended up getting American Express BCE ($1800 SL) the other day so that'll get all my Amazon spend for the next 6 months and all groceries going forward.

 Considering the discover chrome for the 2 +match at restaurants since I end up getting alot of drive through when I'm working. Thinking I can combine the two after a year and then app for a better dining card once I lose the 4%. It was a 0% for 14 months but I don't really have any large purchases comimg so I feel weird about burning the offer if not needed. Thoughts?

[Anonymous]

Actually, now that I think about it, I've got 5% on restaurants until October on my Discover It card. So I think I'll wait until then to app again.

[CYBERSAM]

If your planning to stick with only 3 cards then is probably good idea to grab a MC or Visa also. There are still places that don't except AMEX and Discover!

Also at this stage any card you get is not going to be best tier, so look for a card that would CLI with SP and would reduces APRs.

When did you get Auto loan with DCU? You maybe able to use the same HP for their CC!

[HeavenOhio]

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@Anonymous wrote:

Thanks guys. No bankruptcies. One student loan charged off but paid in full. 7 student loan lines went to collections but all were rehabilitated and are current for the last t years. Roughly 3 years before all negs fall off.

Ended up getting American Express BCE ($1800 SL) the other day so that'll get all my Amazon spend for the next 6 months and all groceries going forward.

 Considering the discover chrome for the 2 +match at restaurants since I end up getting alot of drive through when I'm working. Thinking I can combine the two after a year and then app for a better dining card once I lose the 4%. It was a 0% for 14 months but I don't really have any large purchases comimg so I feel weird about burning the offer if not needed. Thoughts?

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@Anonymous, if you're still considering the Synchrony Amazon Store card, consider the Chase Amazon Visa instead. Store cards aren't really good building tools. But mainly, you should have a Mastercard or Visa in your arsenol. October or November should be fine for a Chase application.

If you wanted to follow it up with a Discover application soon thereafter, that'd be OK. But if you grab two more cards, plan on some gardening. You would have grabbed three cards in a rather short period of time, which is something that's only a good idea if done with meticulous care.

[Anonymous]

I initially thought about the amazon Chase Visa, but it wasn't offered when I tried to prequal -in fact they said no offers for you.

I've got amazon covered for 6 months now with amex. Will wait until October or possibly February (when amex amazon 20% ends) to prequal for chase again.  Will wait on the discover until after the chase app.

Then into the garden for a long time hopefully.