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Replacement Options for Starter Cards

Cpmcmxc
Member

Replacement Options for Starter Cards

Hi myFICO! I am new to the community and am working towards my credit goals. My question is if there are any reccomended or ideal credit options to replace my starter cards?

 

To give some background and context, I recently paid off virtually every card I have and am now sitting on a 0 balance on almost everything. Once my score adjusts from paying off the balances later this month, I plan to request CLIs for my AMEXs (SP), my Discover (SP), and my Golden1 (HP). My simulated FICOs are expected to be 715 (EQ), 724 (TU), and 719 (EX) based on the payment amount and my credit mix. I currently have the following:

AccountDate OpenedCredit LimitAvailable
Golden1 CU06/201930003000
Discover IT08/201910001000
Credit One Visa01/201715001500
Credit One MC01/201814501450
Chevron03/201516001425
Apple Card02/202115001500
AMEX Everyday02/201820002000
AMEX Gold06/201945004500

 

Thanks in advance Smiley Happy

 

Message 1 of 11
10 REPLIES 10
randomguy1
Valued Contributor

Re: Replacement Options for Starter Cards

Ideal credit options vary upon the individual. It's a great start that you listed what cards you have, what kind of categories are you spending your most money on? What are your credit goals? Are you looking for primarily cash back, points, miles, etc? Do you plan on traveling much?

 

Lastly, keep in mind that different creditors have different rules on obtaining new cards. It looks like you are 4/24 (4 cards in 24 months) so if you want a Chase card, that should be your next card until June/August. If you are at 5/24. you will get denied.

Message 2 of 11
Cpmcmxc
Member

Re: Replacement Options for Starter Cards

Thanks for your reply @randomguy1. The majority of my spending right now is in services (electricity, phone bill, etc.), groceries, gas, and my occasional purchases on Amazon or online. With the pandemic being what it is, traveling isn't on my priority list for the remainder of the year - but this may change in the future once everything is over. My credit goals are to get to the 750's approximately so I can apply for a home loan, as well as build my overall available credit balance. Chances are likely I will go in the garden for a while after I replace the two Credit One cards I have.

 

Regarding Chase, I have heard tons of good things about them but truth be told I don't know how that would fit into my credit mix. I currently pay an AF on my Amex Gold, so I would prefer something that doesn't have that AF. Additionally, I am open to lines of credit as well - but I am still relatively new to more "mature" cards, so there is still a steep learning curve for me.

Message 3 of 11
notmyrealname23
Established Contributor

Re: Replacement Options for Starter Cards


@Cpmcmxc wrote:

 

Regarding Chase, I have heard tons of good things about them but truth be told I don't know how that would fit into my credit mix


Chase Freedom (for straight 1.5% cash back plus some bonus categories) or Freedom Flex (5% rotator you can pair with the Discover card + same bonus categories). You can worry about the Sapphire AF cards later if travel becomes more top of mind. Alternately you could get the Chase Amazon card for bonuses on Amazon + Whole Foods. All are no annual fee.

First Tech FCU Choice Rewards World MC 35k
Fidelity VISA Signature 11.5k
Capital One VentureOne 11k
Amex Gold NPSL
Amex Green NPSL
SoFi MC World Elite 8k
PayPal Synchrony MC 6.4k
AMEX Hilton Aspire 6.2k
Petal2 VISA 6k
DiscoverIt Cashback 5k
Amazon/Synchrony 5k
Hotels.com 5k
AMEX Marriott Bonvoy Brilliant 3.1k
Apple Card 3k
Cathay Pacific/Synchrony 2.5k
AMEX Hilton 1k
Target 800
Ch 13 filed 12/13 discharged as paid 1/19
Message 4 of 11
BrutalBodyShots
Super Contributor

Re: Replacement Options for Starter Cards

I'm not familiar with all of your current cards, OP, but I know the Credit One cards are definitely starter cards that you can drop from your profile considering the others you have acquired. 

 

As for what else to add, that could range from nothing to several other cards depending on what you spend your money on and how much you spend.  A bit more information would help with further recommendations.

Message 5 of 11
SecretAzure
Valued Contributor

Re: Replacement Options for Starter Cards


@BrutalBodyShots wrote:

I'm not familiar with all of your current cards, OP, but I know the Credit One cards are definitely starter cards that you can drop from your profile considering the others you have acquired. 

 

As for what else to add, that could range from nothing to several other cards depending on what you spend your money on and how much you spend.  A bit more information would help with further recommendations.


Agree with BBS (as usual). Credit One should probably go.

 

You have some overalp with Amex Gold and Amex ED (for supermarkets). Perhaps you don't need both? 

 

Like you, Chevron is my oldest (active) CC. It's pretty junky but I'd hang onto that for that AAOA (though it'll be on your credit report for 10 years after closure).

 

It sounds like you don't need replacement cards OP, you may have gaps in your spending that cards could help fill but your lineup is pretty strong right now. 

"Show your thanks with action! Hit the "Kudos" button (the stripe with the star) for every post you find helpful to show your appreciation to the community of great individuals who help you on these forums" -Me

Active Cards: Chevron Texaco, Amex BCE, Barclays Ring, Chase Freedom, Chase Freedom Unlimited, Best Buy Visa, Marvel MC
Must garden until 2/1/2022 to hit my goal AAOA. Smiley Indifferent
Message 6 of 11
Cpmcmxc
Member

Re: Replacement Options for Starter Cards


@BrutalBodyShots wrote:

I'm not familiar with all of your current cards, OP, but I know the Credit One cards are definitely starter cards that you can drop from your profile considering the others you have acquired. 

 

As for what else to add, that could range from nothing to several other cards depending on what you spend your money on and how much you spend.  A bit more information would help with further recommendations.


 Thanks @BrutalBodyShots - I previously replied with some of my core areas of spending, as well as my overall credit goals. Should be further up in the posting. I will say, I am wondering if I am better off going into the garden instead and focusing on building the credit lines I have rather than opening new cards? Do you have any insight or advice here?

 

I definitely still plan to close both Credit One cards, as I am not really getting anything of value out of those cards. But beyond that, I am wondering what the next step should be if I want to increase my score and available credit responsibly.

Message 7 of 11
Cpmcmxc
Member

Re: Replacement Options for Starter Cards


@SecretAzure wrote:

@BrutalBodyShots wrote:

I'm not familiar with all of your current cards, OP, but I know the Credit One cards are definitely starter cards that you can drop from your profile considering the others you have acquired. 

 

As for what else to add, that could range from nothing to several other cards depending on what you spend your money on and how much you spend.  A bit more information would help with further recommendations.


Agree with BBS (as usual). Credit One should probably go.

 

You have some overalp with Amex Gold and Amex ED (for supermarkets). Perhaps you don't need both? 

 

Like you, Chevron is my oldest (active) CC. It's pretty junky but I'd hang onto that for that AAOA (though it'll be on your credit report for 10 years after closure).

 

It sounds like you don't need replacement cards OP, you may have gaps in your spending that cards could help fill but your lineup is pretty strong right now. 


Thanks @SecretAzure - I appreciate the feedback. I will say, I am wondering myself if I am better suited to go into the garden for a while and try to focus on increasing my existing credit lines rather than taking out new credit cards. I am still relatively new to more mature credit profiles, as I refused to take out cards for almost 10 years after I did some hefty damage to myself taking out 4 cards when I was 18. Now I am trying to rebuild from scratch essentially, and as I mentioned before there has been a steep learning curve.

Message 8 of 11
Remedios
Moderator

Re: Replacement Options for Starter Cards

@Cpmcmxc  please avoid cross-posting, you will get your answers, but posting same question in multiple places only the leads to confusion. 

Message 9 of 11
BrutalBodyShots
Super Contributor

Re: Replacement Options for Starter Cards


@Cpmcmxc wrote:


 Thanks @BrutalBodyShots - I previously replied with some of my core areas of spending, as well as my overall credit goals. Should be further up in the posting. I will say, I am wondering if I am better off going into the garden instead and focusing on building the credit lines I have rather than opening new cards? Do you have any insight or advice here?

 


Really it's up to you.  Me personally, I'm a fan of quality over quantity... meaning I'd rather have less cards that I use all the time with strong limits rather than a ton of cards where the majority don't get used often, half sit in the SD, etc.  This is coming from someone that rolled with just 1 CC for the first 15 or so years of my credit life, then in the last 5 years moved up to 7 cards.  Across those 7 cards my ACL (average credit limit) is a hair over $30k, so I definitely focused on growing limits on just a handful of cards rather than adding more cards.  My plan going forward is to add no more than 2 more cards for a total max of 9; if I were ever to desire a 10th at any point (unlikely, I haven't added a revolver in nearly 4 years now) I'd probably drop my least used one.  If your current lineup works well for you, I say garden until you come across something you really want/need.  Any time I've considered adding a card, I've researched it a ton mostly on this forum and even after deciding that I want it have waited 6-12 months before apping just to make sure after that span of time I still want it the way I did originally.  I'm a bit more conservative when it comes to apping though and recognize that not everyone shares my views.

Message 10 of 11
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