STAYING ON TRACK

[Jayla127]

When you notice your credit score start to improve what is good credit card to apply for. I still have a way to go but just need suggestions. Right now I have (2) capital one cards and (1) Secured card from credit union. I just opened a Chase checking/savings account. I always heard good things about them and it would be good to have their credit card. Any advice would be appreciated Thanks everyone

[Anonymous]

I'm sure you will get advice from many who have more experience than I but my recommendation would be to stick with the three you have until your credit is good enough for really good cards and/or a card you really want.  Don't collect whatever cards you can get just because you can have them now. Look at what is out there and see which cards fit your spending habits or which you want for whatever other reason and then search these forums for what kind of credit that lender wants so you know what your goal is. For example, if you want a Chase card, you need to be aware of the 5/24 rule and won't want to ruin that for yourself if it's in your 2 year plan. 

[Jayla127]

Thanks for the info! What is the 5/24 rule if you don't mind explaining?

[Anonymous]

I'm not a Chase customer but my understanding from these forums is that they won't approve you if you have opened 5 new accounts in the last 24 months. 

[Anonymous]

OP what cards are you interested in? What is your spend like? Don't get cards just to get them. You need to think about what cards would benefit you.

[Jayla127]

I will like to have a card that has cash and travel rewards

[mkhan1093]

There are a lot of great cashback cards you could theoretically get once your score enters the mid-600s: the Citi Double Cash, Chase Freedom (Unlimited), Discover it, BoA Cash Rewards. As for travel rewards, the ones that provide true travel perks would require a thicker file, but there's no reason you can't use the cashback from these cards to help finance a trip. Good luck with it; there's lots of patience required!