Should I get a new card?

[Artyom87]

My scores right now are all around 700. Almost six months ago I got my first credit card, a Cap1 Cash Rewards w/ a $500 limit. Almost one month ago I got a Amex Delta Gold Card w/ a $2000 limit. Now I am constantly getting preappoval and preselected letters in the mail. I'm now wondering what I should do. Should I garden, or take an offer, specifically the BofA Visa Cash Rewards card?

[BearsAndTurtlesRtheBest]

What are your current Scores.....its funny because as I type this a commercial for BofA Cash Rewards is on TV hahha

[Artyom87]

According to IdentityGuard they are all around the 680's, but it's only because of my short credit history (I also have a student loan going on two years old). Never had anything bad. However, the Amex hasn't reported yet.

[ezdoesit]

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@Artyom87 wrote:

My scores right now are all around 700. Almost six months ago I got my first credit card, a Cap1 Cash Rewards w/ a $500 limit. Almost one month ago I got a Amex Delta Gold Card w/ a $2000 limit. Now I am constantly getting preappoval and preselected letters in the mail. I'm now wondering what I should do. Should I garden, or take an offer, specifically the BofA Visa Cash Rewards card?

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I personally would wait until your 61 day 3x cli with Amex.  Once you have a cl of 6k with Amex I would wait a little while for the new cl to report then possibly if you want apply for another card in 5-6 months.  When you tend to apply for a cc with higher limits reporting other ccc tend to offer you higher limits to start instead of some toy limit that you would be unhappy with.  Of course this is all hypothetical and based on Amex 3x cli also other factor like income.

[jamesdwi]

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@ezdoesit wrote:

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@Artyom87 wrote:

My scores right now are all around 700. Almost six months ago I got my first credit card, a Cap1 Cash Rewards w/ a $500 limit. Almost one month ago I got a Amex Delta Gold Card w/ a $2000 limit. Now I am constantly getting preappoval and preselected letters in the mail. I'm now wondering what I should do. Should I garden, or take an offer, specifically the BofA Visa Cash Rewards card?

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I personally would wait until your 61 day 3x cli with Amex.  Once you have a cl of 6k with Amex I would wait a little while for the new cl to report then possibly if you want apply for another card in 5-6 months.  When you tend to apply for a cc with higher limits reporting other ccc tend to offer you higher limits to start instead of some toy limit that you would be unhappy with.  Of course this is all hypothetical and based on Amex 3x cli also other factor like income.

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+100  waiting 5-6 months and possibly getting your 3x CLI from AMEX will do wonders for your credit, if you applied today, you may get approved but it may be for anohter low limit card. 1-2k CL,   after 5-6 months the new lender may want to exceed your current AMEX limit, if you want to improve your AAoA and still get more credit you can think about a second AMEX card after January for maximum back dating goodness. After the 6months is up you can easily go for Chase Freedom, or even CSP with your AMEX  Delta showing a 5k CL, they won't have much reason to deny your AP.  

[CashOnDelivery]

I agree with with what most of the posters have mentioned. Some CCC's will get the avg of your CL's and provide you that starting CL.

[Artyom87]

Thanks everyone for the advice!

I ended up getting a letter from Citi for their Diamond Preferred Card and I have a little debt that needs to be taken care of before reporting and from what I read they are generous with their CL and 7 month 0% APR and 4 month 0% Balance Transfers. I went for it and got a $3000 CL instant approval! It is now my highest CL and first card with no annual fee! They said I should receive it within a week!

I'm thinking now I should garden for a year and after that try to upgrade my Cap1 to a Venture card.

[youngandcreditwrthy]

Did you not get 18 months 0%? You should have app'ed from their site with the generic 18 mos 0% offer. 7 months is a short time.... I hate that Citi does this, but congrats!
It's a very pretty black matte card! One of my friends thought it actually was a Black Card lol :-p

[Artyom87]

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@youngandcreditwrthy wrote:
Did you not get 18 months 0%? You should have app'ed from their site with the generic 18 mos 0% offer. 7 months is a short time.... I hate that Citi does this, but congrats!
It's a very pretty black matte card! One of my friends thought it actually was a Black Card lol :-p

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I received a preselected letter for the 7 months. I try to never carry a balance and if I do it in this case I'll certainly pay it off within the 7 months. So, I didn't see any reason to go for the 18 months.
Thanks! (I also like the way it looks

[youngandcreditwrthy]

Ah okay! Well, if that's the case lol then that's okay. I am just a fan of trying to get the best terms possible!
I wish the rewards version of this card was still around!
Congrats again :-)