Hello Forum, I am fairly new here.
A couple of months ago I was advised to get the Discover card as my other card so now I have two cards and that has worked out. I have the Discover It and the Quicksilver now with a $2k limit each. I am also an authorized user on a few of my parent's cards.
Since then, my credit score has gone up significantly, with my fico 8 Equifax showing 758. I checked some preapproval links and I am pre-qualified for so many cards like the C1 Venture X, Chase Sapphire Reserve, and Amex Gold. So it seems like I have the options but I really don't know what to grab. I want to have a card with each major company for the future but since I am a student right now who doesn't travel much I can't see myself committing to high fees and travel cards.
I would really appreciate some advice on what card would be a good next step for my credit journey, but I really want to take advantage of the fact they are offering me such good cards.
If you're a full-time student, I would just sit on what you have and continue to build credit. A third card for AZEO doesn't really matter if you're not going to be shopping for a house in the next year or two, and just those two cards should be enough to put your credit in a good position when you graduate, if you use them responsibly.
@Slabenstein wrote:If you're a full-time student, I would just sit on what you have and continue to build credit. A third card for AZEO doesn't really matter if you're not going to be shopping for a house in the next year or two, and just those two cards should be enough to put your credit in a good position when you graduate, if you use them responsibly.
Sitting on what I have seems counter-productive, shouldn't I be opening more cards at the beginning of my credit so that my age will not be affected as much later? I also would love to have some higher limits across different companies. I really don't have to worry about house shopping ever.
You can look for a decent Credit Union near you and start a relationship with them, most of them will pre-approve you for their credit card with SP. This way you can be set for any future loans that you may want to get. Not to mention true free checking!
@RyeBred wrote:
@Slabenstein wrote:If you're a full-time student, I would just sit on what you have and continue to build credit. A third card for AZEO doesn't really matter if you're not going to be shopping for a house in the next year or two, and just those two cards should be enough to put your credit in a good position when you graduate, if you use them responsibly.
Sitting on what I have seems counter-productive, shouldn't I be opening more cards at the beginning of my credit so that my age will not be affected as much later? I also would love to have some higher limits across different companies. I really don't have to worry about house shopping ever.
Different members will probably have different views on building a base for age, but if you're not planning to open, like, 15 starter cards/year or something, two cards that you keep open long-term should be fine for anchoring your AAoA and AAoRA. You've probably already seen the oft-quoted dictum "credit is a marathon, not a sprint" on these boards, and it's true: a healthy credit profile is something that's built up over time, and a lot of that time is just spent waiting. Higher limits, for example, will come with increased income and a history of resposible use. As a full-time student just starting with credit, you don't have either, but if you manage your credit well and advance in your post-graduation career, then, over time, income and credit history will both improve and higher limits will become available to you.
I just found out I'm pre approved for different cards and a member with Navy Federal Credit Union. Should I look into one of those cards since it's with a Credit Union?
Is that a good next step?
@RyeBred wrote:Hello Forum, I am fairly new here.
A couple of months ago I was advised to get the Discover card as my other card so now I have two cards and that has worked out. I have the Discover It and the Quicksilver now with a $2k limit each. I am also an authorized user on a few of my parent's cards.
Since then, my credit score has gone up significantly, with my fico 8 Equifax showing 758. I checked some preapproval links and I am pre-qualified for so many cards like the C1 Venture X, Chase Sapphire Reserve, and Amex Gold. So it seems like I have the options but I really don't know what to grab. I want to have a card with each major company for the future but since I am a student right now who doesn't travel much I can't see myself committing to high fees and travel cards.
I would really appreciate some advice on what card would be a good next step for my credit journey, but I really want to take advantage of the fact they are offering me such good cards.
I would go for a Chase Freedom Unlimited or a Citi Double Cash.
@RyeBred wrote:I just found out I'm pre approved for different cards and a member with Navy Federal Credit Union. Should I look into one of those cards since it's with a Credit Union?
Is that a good next step?
It would be a valid next step. The Cash Rewards card is, I believe, a 1.75% cash back card, and the platinum card is great for money management.
I'd say get in with AmEx. Everyone likes earlier dates on their "member since" stamp!
They were my second card.
Get a BCE imo, which will cover some basics for you, like 3% gas, groceries, and online shopping.
I disagree with what others posted and think you should indeed get the ball rolling with another card to anchor your Average Ages of Accounts in the future, and should do so with a $0 AF card that is likely to be good for your wallet in the future.
As you already have a Quicksilver, you don't NEED another "generic spend" card yet (which the above recommended CFU or DC would be). As a student, 3% online shopping is likely to cover more bases for you.
Biz - 
Sock - 
Chopping Block - 
