What's next?

[IFtkkdx428]

Well, I have been wanting to close the Capital One Platinum MasterCard I have for some time now. It no longer serves a purpose, besides reminding how unless it is every time I open the sock drawer. I would keep it, though the AF is a deal breaker, not to mention that there are no rewards. I would have gotten rid of this card long ago, however a couple of members here on myFICO recommended that I obtain a few cards that are keepers before I ditch Capital One. The reason being; this Capital One card is the first credit I obtained when I begun building credit. I feel it served it's purpose at the time, though I have now outgrown this particular card. I have actually been offered a few credit increases, but have not pursued them knowing that I will close this in the future.

Here are some cards on my radar and the reasons why I like them or how I would use them.

Discover It

I seem to have always wanted the Discover It card whenever I'm on the prowl for a new card. The monthly offers in the mail doesn't help the situation either. This card would be used in tandem with the Chase Freedom. What 5% rotating categories Chase doesn't fill I will use Discover It in its place and vise versa. 

Capital One BuyPower

I think this would be the most beneficial card for me at this time and which would be likely, the most used. I like the fact that it's rewards aren't short-term and living in the moment per sa, but rather long-term and planning for the future. The only thing I'm worried about is that I don't foresee buying a new vehicle anytime in the future, like 8+ years.  Even though it says "With the BuyPower Card, your Earnings do not expire." I would worry that someday the rewards could be done away with which is a concern. "GM reserves the right to change or terminate the Program and its rules or awards at any time." If I do end up taking this card, would it be possible to product change with the Capital One Platinum I currently have?

Forum Credit Union Credit Card I know there are a lot of credit unions out there with different cards. However this is a card that is offered through the credit union I bank at which is a personal plus. The card has 1% cash back on everything towards statements credits. Even though I PIF every month, I would like to have a card that I could carry a balance if the time comes. Since credit unions are usually known for their low APR and high CL. I could get a credit card with another union, however that card would have to have a edge over Forum for it to make it worth it. So, I'm open to recommendations as far as credit union cards are concerned.

I also chatted online with a representative about the card. I learned that they pull from Equifax. I mentioned my TU score (746), payment history (100% on time), inquires (3) and possibly a couple of other details. After mentioning these items I asked, "So would you say that my chances of getting this credit card are likely?" The representative said, "Based on the information this far, I would say very likely."

Bank of America Better Balance

This card would immediately go in the sock drawer with a subscription charge on it to reap the rewards. I do feel slightly worried that they could lower the rewards of this card and even do away with it. If I had more of a portfolio of credit cards I wouldn't be worried, however my next card needs to be a keeper. This card would certainly be the easiest to collect rewards.

Huntington Voice

I would have a hard time giving Huntington my business after they took $100+ from my savings when I was a teenager. The account was opened back when Union Federal was around and policies changed once they were bought out. Long story short, free checking was no longer offered. So I'm out to seek revenge against Huntington in the form of rewards you could say. The 3% category would be used only for Restaurant/Dining.

What do the members of myFICO think? I'm open to other recommendations. The best thing about myFICO community is that I usually have my heart set on a card and then someone recommends a different card that I didn't even know about, so I'm looking forward to opinions! 

Also, is it too soon to apply for another card? I got the Barclay Sallie Mae card in July. Should I wait and if so, how long?

Helpful Information

Age: 22


Annual Income: $16,000.00


Monthly Rent/Mortgage Payment: $0


Credit Karma FAKO score: 738

TU FICO credit score: 746


Credit Card Utilization Rate: 3%


Percent of On Time Payments: 100%

On Time Payments: 31

Total Payments: 31


AAoA: 0.92

Oldest Open Credit Line: 1.75 years


Total Accounts: 3


Hard Credit Inquiries: 3


Derogatory Marks: 0



Current Credit Cards



Capital One
 Platinum 

Credit Limit: $750

Card issued: Jan/2013



Chase Freedom


Credit Limit: $3,000


Card Issued: Jan/2014

Sallie Mae Barclaycard

Credit Limit: $2,000

Card Issued: July/2014

Money Spent By Category during May 2014 - October 2014

Gasoline/Fuel - 22.66%


Groceries - 21.00%


Restaurants/Dining - 17.51%


Education - 15.27%


Clothing/Shoes - 8.42%


General Merchandise - 6.79%


Personal Care - 2.50%


Pets/Pet Care - 2.31%


Online Services - 1.85%


Healthcare/Medical - 1%

Home Improvement - 0.69%

Thanks, IF

[Anonymous]

---

@IFtkkdx428 wrote:

Well, I have been wanting to close the Capital One Platinum MasterCard I have for some time now. It no longer serves a purpose, besides reminding how unless it is every time I open the sock drawer. I would keep it, though the AF is a deal breaker, not to mention that there are no rewards. I would have gotten rid of this card long ago, however a couple of members here on myFICO recommended that I obtain a few cards that are keepers before I ditch Capital One. The reason being; this Capital One card is the first credit I obtained when I begun building credit. I feel it served it's purpose at the time, though I have now outgrown this particular card. I have actually been offered a few credit increases, but have not pursued them knowing that I will close this in the future.

Here are some cards on my radar and the reasons why I like them or how I would use them.

Discover It

I seem to have always wanted the Discover It card whenever I'm on the prowl for a new card. The monthly offers in the mail doesn't help the situation either. This card would be used in tandem with the Chase Freedom. What 5% rotating categories Chase doesn't fill I will use Discover It in its place and vise versa. 

Capital One BuyPower

I think this would be the most beneficial card for me at this time and which would be likely, the most used. I like the fact that it's rewards aren't short-term and living in the moment per sa, but rather long-term and planning for the future. The only thing I'm worried about is that I don't foresee buying a new vehicle anytime in the future, like 8+ years.  Even though it says "With the BuyPower Card, your Earnings do not expire." I would worry that someday the rewards could be done away with which is a concern. "GM reserves the right to change or terminate the Program and its rules or awards at any time." If I do end up taking this card, would it be possible to product change with the Capital One Platinum I currently have?

Forum Credit Union Credit Card I know there are a lot of credit unions out there with different cards. However this is a card that is offered through the credit union I bank at which is a personal plus. The card has 1% cash back on everything towards statements credits. Even though I PIF every month, I would like to have a card that I could carry a balance if the time comes. Since credit unions are usually known for their low APR and high CL. I could get a credit card with another union, however that card would have to have a edge over Forum for it to make it worth it. So, I'm open to recommendations as far as credit union cards are concerned.

I also chatted online with a representative about the card. I learned that they pull from Equifax. I mentioned my TU score (746), payment history (100% on time), inquires (3) and possibly a couple of other details. After mentioning these items I asked, "So would you say that my chances of getting this credit card are likely?" The representative said, "Based on the information this far, I would say very likely."

Bank of America Better Balance

This card would immediately go in the sock drawer with a subscription charge on it to reap the rewards. I do feel slightly worried that they could lower the rewards of this card and even do away with it. If I had more of a portfolio of credit cards I wouldn't be worried, however my next card needs to be a keeper. This card would certainly be the easiest to collect rewards.

Huntington Voice

I would have a hard time giving Huntington my business after they took $100+ from my savings when I was a teenager. The account was opened back when Union Federal was around and policies changed once they were bought out. Long story short, free checking was no longer offered. So I'm out to seek revenge against Huntington in the form of rewards you could say. The 3% category would be used only for Restaurant/Dining.

What do the members of myFICO think? I'm open to other recommendations. The best thing about myFICO community is that I usually have my heart set on a card and then someone recommends a different card that I didn't even know about, so I'm looking forward to opinions! 

Also, is it too soon to apply for another card? I got the Barclay Sallie Mae card in July. Should I wait and if so, how long?

Helpful Information

Age: 22


Annual Income: $16,000.00


Monthly Rent/Mortgage Payment: $0


Credit Karma FAKO score: 738

TU FICO credit score: 746


Credit Card Utilization Rate: 3%


Percent of On Time Payments: 100%

On Time Payments: 31

Total Payments: 31


AAoA: 0.92

Oldest Open Credit Line: 1.75 years


Total Accounts: 3


Hard Credit Inquiries: 3


Derogatory Marks: 0



Current Credit Cards



Capital One
 Platinum 

Credit Limit: $750 (I asked for a CLI via online on 7/5/13 and received a $250 increase)


Card issued: Jan/2013



Chase Freedom


Credit Limit: $3,000


Card Issued: Jan/2014

Sallie Mae Barclaycard

Credit Limit: $2,000

Card Issued: July/2014

Money Spent By Category during May 2014 - October 2014

Gasoline/Fuel - 22.66%


Groceries - 21.00%


Restaurants/Dining - 17.51%


Education - 15.27%


Clothing/Shoes - 8.42%


General Merchandise - 6.79%


Personal Care - 2.50%


Pets/Pet Care - 2.31%


Online Services - 1.85%


Healthcare/Medical - 1%

Home Improvement - 0.69%

Thanks, IF

---

Garden to improve AAoA is looking pretty good.

[IFtkkdx428]

---

@Anonymous wrote:

---

@IFtkkdx428 wrote:

Well, I have been wanting to close the Capital One Platinum MasterCard I have for some time now. It no longer serves a purpose, besides reminding how unless it is every time I open the sock drawer. I would keep it, though the AF is a deal breaker, not to mention that there are no rewards. I would have gotten rid of this card long ago, however a couple of members here on myFICO recommended that I obtain a few cards that are keepers before I ditch Capital One. The reason being; this Capital One card is the first credit I obtained when I begun building credit. I feel it served it's purpose at the time, though I have now outgrown this particular card. I have actually been offered a few credit increases, but have not pursued them knowing that I will close this in the future.

Here are some cards on my radar and the reasons why I like them or how I would use them.

Discover It

I seem to have always wanted the Discover It card whenever I'm on the prowl for a new card. The monthly offers in the mail doesn't help the situation either. This card would be used in tandem with the Chase Freedom. What 5% rotating categories Chase doesn't fill I will use Discover It in its place and vise versa. 

Capital One BuyPower

I think this would be the most beneficial card for me at this time and which would be likely, the most used. I like the fact that it's rewards aren't short-term and living in the moment per sa, but rather long-term and planning for the future. The only thing I'm worried about is that I don't foresee buying a new vehicle anytime in the future, like 8+ years.  Even though it says "With the BuyPower Card, your Earnings do not expire." I would worry that someday the rewards could be done away with which is a concern. "GM reserves the right to change or terminate the Program and its rules or awards at any time." If I do end up taking this card, would it be possible to product change with the Capital One Platinum I currently have?

Forum Credit Union Credit Card I know there are a lot of credit unions out there with different cards. However this is a card that is offered through the credit union I bank at which is a personal plus. The card has 1% cash back on everything towards statements credits. Even though I PIF every month, I would like to have a card that I could carry a balance if the time comes. Since credit unions are usually known for their low APR and high CL. I could get a credit card with another union, however that card would have to have a edge over Forum for it to make it worth it. So, I'm open to recommendations as far as credit union cards are concerned.

I also chatted online with a representative about the card. I learned that they pull from Equifax. I mentioned my TU score (746), payment history (100% on time), inquires (3) and possibly a couple of other details. After mentioning these items I asked, "So would you say that my chances of getting this credit card are likely?" The representative said, "Based on the information this far, I would say very likely."

Bank of America Better Balance

This card would immediately go in the sock drawer with a subscription charge on it to reap the rewards. I do feel slightly worried that they could lower the rewards of this card and even do away with it. If I had more of a portfolio of credit cards I wouldn't be worried, however my next card needs to be a keeper. This card would certainly be the easiest to collect rewards.

Huntington Voice

I would have a hard time giving Huntington my business after they took $100+ from my savings when I was a teenager. The account was opened back when Union Federal was around and policies changed once they were bought out. Long story short, free checking was no longer offered. So I'm out to seek revenge against Huntington in the form of rewards you could say. The 3% category would be used only for Restaurant/Dining.

What do the members of myFICO think? I'm open to other recommendations. The best thing about myFICO community is that I usually have my heart set on a card and then someone recommends a different card that I didn't even know about, so I'm looking forward to opinions! 

Also, is it too soon to apply for another card? I got the Barclay Sallie Mae card in July. Should I wait and if so, how long?

Helpful Information

Age: 22


Annual Income: $16,000.00


Monthly Rent/Mortgage Payment: $0


Credit Karma FAKO score: 738

TU FICO credit score: 746


Credit Card Utilization Rate: 3%


Percent of On Time Payments: 100%

On Time Payments: 31

Total Payments: 31


AAoA: 0.92

Oldest Open Credit Line: 1.75 years


Total Accounts: 3


Hard Credit Inquiries: 3


Derogatory Marks: 0



Current Credit Cards



Capital One
 Platinum 

Credit Limit: $750 (I asked for a CLI via online on 7/5/13 and received a $250 increase)


Card issued: Jan/2013



Chase Freedom


Credit Limit: $3,000


Card Issued: Jan/2014

Sallie Mae Barclaycard

Credit Limit: $2,000

Card Issued: July/2014

Money Spent By Category during May 2014 - October 2014

Gasoline/Fuel - 22.66%


Groceries - 21.00%


Restaurants/Dining - 17.51%


Education - 15.27%


Clothing/Shoes - 8.42%


General Merchandise - 6.79%


Personal Care - 2.50%


Pets/Pet Care - 2.31%


Online Services - 1.85%


Healthcare/Medical - 1%

Home Improvement - 0.69%

Thanks, IF

---

Garden to improve AAoA is looking pretty good.

---

Nixon, thank you for replying. To better understand, I should not apply for any cards and instead garden? How long should I garden until I can apply for a new card? Also, I should keep the Capital One Platnium card open and keep paying the AF until then? I just want to be sure that we are both on the same page here.

Also, I should add that I plan to begin applying for a Federal student loan in a couple of months for Spring semester. Would these loans affect me from getting a card that I want in the short-term future?

[Anonymous]

---

@IFtkkdx428 wrote:

---

@Anonymous wrote:

---

@IFtkkdx428 wrote:

Well, I have been wanting to close the Capital One Platinum MasterCard I have for some time now. It no longer serves a purpose, besides reminding how unless it is every time I open the sock drawer. I would keep it, though the AF is a deal breaker, not to mention that there are no rewards. I would have gotten rid of this card long ago, however a couple of members here on myFICO recommended that I obtain a few cards that are keepers before I ditch Capital One. The reason being; this Capital One card is the first credit I obtained when I begun building credit. I feel it served it's purpose at the time, though I have now outgrown this particular card. I have actually been offered a few credit increases, but have not pursued them knowing that I will close this in the future.

Here are some cards on my radar and the reasons why I like them or how I would use them.

Discover It

I seem to have always wanted the Discover It card whenever I'm on the prowl for a new card. The monthly offers in the mail doesn't help the situation either. This card would be used in tandem with the Chase Freedom. What 5% rotating categories Chase doesn't fill I will use Discover It in its place and vise versa. 

Capital One BuyPower

I think this would be the most beneficial card for me at this time and which would be likely, the most used. I like the fact that it's rewards aren't short-term and living in the moment per sa, but rather long-term and planning for the future. The only thing I'm worried about is that I don't foresee buying a new vehicle anytime in the future, like 8+ years.  Even though it says "With the BuyPower Card, your Earnings do not expire." I would worry that someday the rewards could be done away with which is a concern. "GM reserves the right to change or terminate the Program and its rules or awards at any time." If I do end up taking this card, would it be possible to product change with the Capital One Platinum I currently have?

Forum Credit Union Credit Card I know there are a lot of credit unions out there with different cards. However this is a card that is offered through the credit union I bank at which is a personal plus. The card has 1% cash back on everything towards statements credits. Even though I PIF every month, I would like to have a card that I could carry a balance if the time comes. Since credit unions are usually known for their low APR and high CL. I could get a credit card with another union, however that card would have to have a edge over Forum for it to make it worth it. So, I'm open to recommendations as far as credit union cards are concerned.

I also chatted online with a representative about the card. I learned that they pull from Equifax. I mentioned my TU score (746), payment history (100% on time), inquires (3) and possibly a couple of other details. After mentioning these items I asked, "So would you say that my chances of getting this credit card are likely?" The representative said, "Based on the information this far, I would say very likely."

Bank of America Better Balance

This card would immediately go in the sock drawer with a subscription charge on it to reap the rewards. I do feel slightly worried that they could lower the rewards of this card and even do away with it. If I had more of a portfolio of credit cards I wouldn't be worried, however my next card needs to be a keeper. This card would certainly be the easiest to collect rewards.

Huntington Voice

I would have a hard time giving Huntington my business after they took $100+ from my savings when I was a teenager. The account was opened back when Union Federal was around and policies changed once they were bought out. Long story short, free checking was no longer offered. So I'm out to seek revenge against Huntington in the form of rewards you could say. The 3% category would be used only for Restaurant/Dining.

What do the members of myFICO think? I'm open to other recommendations. The best thing about myFICO community is that I usually have my heart set on a card and then someone recommends a different card that I didn't even know about, so I'm looking forward to opinions! 

Also, is it too soon to apply for another card? I got the Barclay Sallie Mae card in July. Should I wait and if so, how long?

Helpful Information

Age: 22


Annual Income: $16,000.00


Monthly Rent/Mortgage Payment: $0


Credit Karma FAKO score: 738

TU FICO credit score: 746


Credit Card Utilization Rate: 3%


Percent of On Time Payments: 100%

On Time Payments: 31

Total Payments: 31


AAoA: 0.92

Oldest Open Credit Line: 1.75 years


Total Accounts: 3


Hard Credit Inquiries: 3


Derogatory Marks: 0



Current Credit Cards



Capital One
 Platinum 

Credit Limit: $750 (I asked for a CLI via online on 7/5/13 and received a $250 increase)


Card issued: Jan/2013



Chase Freedom


Credit Limit: $3,000


Card Issued: Jan/2014

Sallie Mae Barclaycard

Credit Limit: $2,000

Card Issued: July/2014

Money Spent By Category during May 2014 - October 2014

Gasoline/Fuel - 22.66%


Groceries - 21.00%


Restaurants/Dining - 17.51%


Education - 15.27%


Clothing/Shoes - 8.42%


General Merchandise - 6.79%


Personal Care - 2.50%


Pets/Pet Care - 2.31%


Online Services - 1.85%


Healthcare/Medical - 1%

Home Improvement - 0.69%

Thanks, IF

---

Garden to improve AAoA is looking pretty good.

---

Nixon, thank you for replying. To better understand, I should not apply for any cards and instead garden? How long should I garden until I can apply for a new card? Also, I should keep the Capital One Platnium card open and keep paying the AF until then? I just want to be sure that we are both on the same page here.

Also, I should add that I plan to begin applying for a Federal student loan in a couple of months for Spring semester. Would these loans affect me from getting a card that I want in the short-term future?

---

I'd try to PC the card into something else for sure if it's an option..

But your AAoA is kinda low for you to be applying for a whole bunch of stuff.

I could see you getting maybe a Barclaycard Rewards MC or possibly even a Discover It Student. However your AAoA is probably going to make the electronic gatekeepers issue pretty little 7-10 day messages.

If you do apply for anything, OP. Try not to get more than 3 new revolving accounts.

[IFtkkdx428]

---

@Anonymous wrote:

---

@IFtkkdx428 wrote:

---

@Anonymous wrote:

---

@IFtkkdx428 wrote:

Well, I have been wanting to close the Capital One Platinum MasterCard I have for some time now. It no longer serves a purpose, besides reminding how unless it is every time I open the sock drawer. I would keep it, though the AF is a deal breaker, not to mention that there are no rewards. I would have gotten rid of this card long ago, however a couple of members here on myFICO recommended that I obtain a few cards that are keepers before I ditch Capital One. The reason being; this Capital One card is the first credit I obtained when I begun building credit. I feel it served it's purpose at the time, though I have now outgrown this particular card. I have actually been offered a few credit increases, but have not pursued them knowing that I will close this in the future.

Here are some cards on my radar and the reasons why I like them or how I would use them.

Discover It

I seem to have always wanted the Discover It card whenever I'm on the prowl for a new card. The monthly offers in the mail doesn't help the situation either. This card would be used in tandem with the Chase Freedom. What 5% rotating categories Chase doesn't fill I will use Discover It in its place and vise versa. 

Capital One BuyPower

I think this would be the most beneficial card for me at this time and which would be likely, the most used. I like the fact that it's rewards aren't short-term and living in the moment per sa, but rather long-term and planning for the future. The only thing I'm worried about is that I don't foresee buying a new vehicle anytime in the future, like 8+ years.  Even though it says "With the BuyPower Card, your Earnings do not expire." I would worry that someday the rewards could be done away with which is a concern. "GM reserves the right to change or terminate the Program and its rules or awards at any time." If I do end up taking this card, would it be possible to product change with the Capital One Platinum I currently have?

Forum Credit Union Credit Card I know there are a lot of credit unions out there with different cards. However this is a card that is offered through the credit union I bank at which is a personal plus. The card has 1% cash back on everything towards statements credits. Even though I PIF every month, I would like to have a card that I could carry a balance if the time comes. Since credit unions are usually known for their low APR and high CL. I could get a credit card with another union, however that card would have to have a edge over Forum for it to make it worth it. So, I'm open to recommendations as far as credit union cards are concerned.

I also chatted online with a representative about the card. I learned that they pull from Equifax. I mentioned my TU score (746), payment history (100% on time), inquires (3) and possibly a couple of other details. After mentioning these items I asked, "So would you say that my chances of getting this credit card are likely?" The representative said, "Based on the information this far, I would say very likely."

Bank of America Better Balance

This card would immediately go in the sock drawer with a subscription charge on it to reap the rewards. I do feel slightly worried that they could lower the rewards of this card and even do away with it. If I had more of a portfolio of credit cards I wouldn't be worried, however my next card needs to be a keeper. This card would certainly be the easiest to collect rewards.

Huntington Voice

I would have a hard time giving Huntington my business after they took $100+ from my savings when I was a teenager. The account was opened back when Union Federal was around and policies changed once they were bought out. Long story short, free checking was no longer offered. So I'm out to seek revenge against Huntington in the form of rewards you could say. The 3% category would be used only for Restaurant/Dining.

What do the members of myFICO think? I'm open to other recommendations. The best thing about myFICO community is that I usually have my heart set on a card and then someone recommends a different card that I didn't even know about, so I'm looking forward to opinions! 

Also, is it too soon to apply for another card? I got the Barclay Sallie Mae card in July. Should I wait and if so, how long?

Helpful Information

Age: 22


Annual Income: $16,000.00


Monthly Rent/Mortgage Payment: $0


Credit Karma FAKO score: 738

TU FICO credit score: 746


Credit Card Utilization Rate: 3%


Percent of On Time Payments: 100%

On Time Payments: 31

Total Payments: 31


AAoA: 0.92

Oldest Open Credit Line: 1.75 years


Total Accounts: 3


Hard Credit Inquiries: 3


Derogatory Marks: 0



Current Credit Cards



Capital One
 Platinum 

Credit Limit: $750 (I asked for a CLI via online on 7/5/13 and received a $250 increase)


Card issued: Jan/2013



Chase Freedom


Credit Limit: $3,000


Card Issued: Jan/2014

Sallie Mae Barclaycard

Credit Limit: $2,000

Card Issued: July/2014

Money Spent By Category during May 2014 - October 2014

Gasoline/Fuel - 22.66%


Groceries - 21.00%


Restaurants/Dining - 17.51%


Education - 15.27%


Clothing/Shoes - 8.42%


General Merchandise - 6.79%


Personal Care - 2.50%


Pets/Pet Care - 2.31%


Online Services - 1.85%


Healthcare/Medical - 1%

Home Improvement - 0.69%

Thanks, IF

---

Garden to improve AAoA is looking pretty good.

---

Nixon, thank you for replying. To better understand, I should not apply for any cards and instead garden? How long should I garden until I can apply for a new card? Also, I should keep the Capital One Platnium card open and keep paying the AF until then? I just want to be sure that we are both on the same page here.

Also, I should add that I plan to begin applying for a Federal student loan in a couple of months for Spring semester. Would these loans affect me from getting a card that I want in the short-term future?

---

I'd try to PC the card into something else for sure if it's an option..

But your AAoA is kinda low for you to be applying for a whole bunch of stuff.

I could see you getting maybe a Barclaycard Rewards MC or possibly even a Discover It Student. However your AAoA is probably going to make the electronic gatekeepers issue pretty little 7-10 day messages.

If you do apply for anything, OP. Try not to get more than 3 new revolving accounts.

---

Oh no! I think you misunderstood me Nixon. I'm extremely sorry, I only want one new card. It was recommended previously that I have 3 cards that are keepers before I get rid of Capital One Platnium. The two keepers I have now are the Chase Freedom and the Barclaycard Sallie Mae. Now I'm looking for that third keeper before closing the Capital One card. I only listed those 5 credit cards above as cards that I'm considering. My intentions are to garden after I have 3 keepers. I'm just making sure we are on the same page? I'm still a novice when it comes to credit, so I want to make sure I can fully untilize the expert openions here on myFICO.

Also, if I do PC the Capital One Platnium to Capital One BuyPower, will the Capital One Platnium still be my longest open credt line? Now, I know it still looks open until 10 years. What I mean is, would the BuyPower esentually take the Platnium's place, almost like I never had the Platnium? I hope you understand what I'm convaying here.

[Anonymous]

---

@IFtkkdx428 wrote:

---

@Anonymous wrote:

---

@IFtkkdx428 wrote:

---

@Anonymous wrote:

---

@IFtkkdx428 wrote:

Well, I have been wanting to close the Capital One Platinum MasterCard I have for some time now. It no longer serves a purpose, besides reminding how unless it is every time I open the sock drawer. I would keep it, though the AF is a deal breaker, not to mention that there are no rewards. I would have gotten rid of this card long ago, however a couple of members here on myFICO recommended that I obtain a few cards that are keepers before I ditch Capital One. The reason being; this Capital One card is the first credit I obtained when I begun building credit. I feel it served it's purpose at the time, though I have now outgrown this particular card. I have actually been offered a few credit increases, but have not pursued them knowing that I will close this in the future.

Here are some cards on my radar and the reasons why I like them or how I would use them.

Discover It

I seem to have always wanted the Discover It card whenever I'm on the prowl for a new card. The monthly offers in the mail doesn't help the situation either. This card would be used in tandem with the Chase Freedom. What 5% rotating categories Chase doesn't fill I will use Discover It in its place and vise versa. 

Capital One BuyPower

I think this would be the most beneficial card for me at this time and which would be likely, the most used. I like the fact that it's rewards aren't short-term and living in the moment per sa, but rather long-term and planning for the future. The only thing I'm worried about is that I don't foresee buying a new vehicle anytime in the future, like 8+ years.  Even though it says "With the BuyPower Card, your Earnings do not expire." I would worry that someday the rewards could be done away with which is a concern. "GM reserves the right to change or terminate the Program and its rules or awards at any time." If I do end up taking this card, would it be possible to product change with the Capital One Platinum I currently have?

Forum Credit Union Credit Card I know there are a lot of credit unions out there with different cards. However this is a card that is offered through the credit union I bank at which is a personal plus. The card has 1% cash back on everything towards statements credits. Even though I PIF every month, I would like to have a card that I could carry a balance if the time comes. Since credit unions are usually known for their low APR and high CL. I could get a credit card with another union, however that card would have to have a edge over Forum for it to make it worth it. So, I'm open to recommendations as far as credit union cards are concerned.

I also chatted online with a representative about the card. I learned that they pull from Equifax. I mentioned my TU score (746), payment history (100% on time), inquires (3) and possibly a couple of other details. After mentioning these items I asked, "So would you say that my chances of getting this credit card are likely?" The representative said, "Based on the information this far, I would say very likely."

Bank of America Better Balance

This card would immediately go in the sock drawer with a subscription charge on it to reap the rewards. I do feel slightly worried that they could lower the rewards of this card and even do away with it. If I had more of a portfolio of credit cards I wouldn't be worried, however my next card needs to be a keeper. This card would certainly be the easiest to collect rewards.

Huntington Voice

I would have a hard time giving Huntington my business after they took $100+ from my savings when I was a teenager. The account was opened back when Union Federal was around and policies changed once they were bought out. Long story short, free checking was no longer offered. So I'm out to seek revenge against Huntington in the form of rewards you could say. The 3% category would be used only for Restaurant/Dining.

What do the members of myFICO think? I'm open to other recommendations. The best thing about myFICO community is that I usually have my heart set on a card and then someone recommends a different card that I didn't even know about, so I'm looking forward to opinions! 

Also, is it too soon to apply for another card? I got the Barclay Sallie Mae card in July. Should I wait and if so, how long?

Helpful Information

Age: 22


Annual Income: $16,000.00


Monthly Rent/Mortgage Payment: $0


Credit Karma FAKO score: 738

TU FICO credit score: 746


Credit Card Utilization Rate: 3%


Percent of On Time Payments: 100%

On Time Payments: 31

Total Payments: 31


AAoA: 0.92

Oldest Open Credit Line: 1.75 years


Total Accounts: 3


Hard Credit Inquiries: 3


Derogatory Marks: 0



Current Credit Cards



Capital One
 Platinum 

Credit Limit: $750 (I asked for a CLI via online on 7/5/13 and received a $250 increase)


Card issued: Jan/2013



Chase Freedom


Credit Limit: $3,000


Card Issued: Jan/2014

Sallie Mae Barclaycard

Credit Limit: $2,000

Card Issued: July/2014

Money Spent By Category during May 2014 - October 2014

Gasoline/Fuel - 22.66%


Groceries - 21.00%


Restaurants/Dining - 17.51%


Education - 15.27%


Clothing/Shoes - 8.42%


General Merchandise - 6.79%


Personal Care - 2.50%


Pets/Pet Care - 2.31%


Online Services - 1.85%


Healthcare/Medical - 1%

Home Improvement - 0.69%

Thanks, IF

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Garden to improve AAoA is looking pretty good.

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Nixon, thank you for replying. To better understand, I should not apply for any cards and instead garden? How long should I garden until I can apply for a new card? Also, I should keep the Capital One Platnium card open and keep paying the AF until then? I just want to be sure that we are both on the same page here.

Also, I should add that I plan to begin applying for a Federal student loan in a couple of months for Spring semester. Would these loans affect me from getting a card that I want in the short-term future?

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I'd try to PC the card into something else for sure if it's an option..

But your AAoA is kinda low for you to be applying for a whole bunch of stuff.

I could see you getting maybe a Barclaycard Rewards MC or possibly even a Discover It Student. However your AAoA is probably going to make the electronic gatekeepers issue pretty little 7-10 day messages.

If you do apply for anything, OP. Try not to get more than 3 new revolving accounts.

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Oh no! I think you misunderstood me Nixon. I'm extremely sorry, I only want one new card. It was recommended previously that I have 3 cards that are keepers before I get rid of Capital One Platnium. The two keepers I have now are the Chase Freedom and the Barclaycard Sallie Mae. Now I'm looking for that third keeper before closing the Capital One card. I only listed those 5 credit cards above as cards that I'm considering. My intentions are to garden after I have 3 keepers. I'm just making sure we are on the same page? I'm still a novice when it comes to credit, so I want to make sure I can fully untilize the expert openions here on myFICO.

Also, if I do PC the Capital One Platnium to Capital One BuyPower, will the Capital One Platnium still be my longest open credt line? Now, I know it still looks open until 10 years. What I mean is, would the BuyPower esentually take the Platnium's place, almost like I never had the Platnium? I hope you understand what I'm convaying here.

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It's up to you...You do realize the rewards only apply to a GM car though, right?

I'd go for something more versatile like a VentureOne or a QS.

[Kenny]

You cannot PC to a GM Buy Power. You should PC to Quicksilver or at least ask to add 1.5% rewards. Keep the Capital One it will definitely grow.. and you need longer history with credit. That's the biggest thing holding you back. Get an Amex as soon as your scores will allow.. if you've had a CC for 6 months.. I'd definitely try with Amex to get in before the year is over. This will give you stability later in life when you're 40 and you want another Amex it will backdate to 2014.

The new everyday card is great or you might be interested in a charge card such as the PRG if you can get the good sign up bonus of 25k MR. Some people view MR as only for travel, but I think it's a good sign up bonus for non-travel as well. You can get a Nike $250 gift card, for instance.

Just something to think about. Good luck. Ask any questions you may have.

[Anonymous]

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@Kenny wrote:
You cannot PC to a GM Buy Power. You should PC to Quicksilver or at least ask to add 1.5% rewards. Keep the Capital One it will definitely grow.. and you need longer history with credit. That's the biggest thing holding you back. Get an Amex as soon as your scores will allow.. if you've had a CC for 6 months.. I'd definitely try with Amex to get in before the year is over. This will give you stability later in life when you're 40 and you want another Amex it will backdate to 2014.

The new everyday card is great or you might be interested in a charge card such as the PRG if you can get the good sign up bonus of 25k MR. Some people view MR as only for travel, but I think it's a good sign up bonus for non-travel as well. You can get a Nike $250 gift card, for instance.

Just something to think about. Good luck. Ask any questions you may have.

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+1

I didn't steer OP towards amex because the file's a bit fresh and lean.

[Kenny]

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@Anonymous wrote:

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@Kenny wrote:
You cannot PC to a GM Buy Power. You should PC to Quicksilver or at least ask to add 1.5% rewards. Keep the Capital One it will definitely grow.. and you need longer history with credit. That's the biggest thing holding you back. Get an Amex as soon as your scores will allow.. if you've had a CC for 6 months.. I'd definitely try with Amex to get in before the year is over. This will give you stability later in life when you're 40 and you want another Amex it will backdate to 2014.

The new everyday card is great or you might be interested in a charge card such as the PRG if you can get the good sign up bonus of 25k MR. Some people view MR as only for travel, but I think it's a good sign up bonus for non-travel as well. You can get a Nike $250 gift card, for instance.

Just something to think about. Good luck. Ask any questions you may have.

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+1

I didn't steer OP towards amex because the file's a bit fresh and lean.

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I had a fresh and lean profile when I applied for my Amex. 6 months after a Chase/Discover card. Just something to think about.. not all people's profiles are the same, but I really think they definitely have a good shot especially with the charge card. With the no-AF the first year, that's perfect. Then in January, if they'd like they can apply for BCE or Everyday and then cancel the PRG whenever they want to afterwards. I mention this because of the max backdating and also the SP for denial, if it is a denial in January. (If it sounds interesting to them.)

[Anonymous]

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@Kenny wrote:

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@Anonymous wrote:

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@Kenny wrote:
You cannot PC to a GM Buy Power. You should PC to Quicksilver or at least ask to add 1.5% rewards. Keep the Capital One it will definitely grow.. and you need longer history with credit. That's the biggest thing holding you back. Get an Amex as soon as your scores will allow.. if you've had a CC for 6 months.. I'd definitely try with Amex to get in before the year is over. This will give you stability later in life when you're 40 and you want another Amex it will backdate to 2014.

The new everyday card is great or you might be interested in a charge card such as the PRG if you can get the good sign up bonus of 25k MR. Some people view MR as only for travel, but I think it's a good sign up bonus for non-travel as well. You can get a Nike $250 gift card, for instance.

Just something to think about. Good luck. Ask any questions you may have.

---

+1

I didn't steer OP towards amex because the file's a bit fresh and lean.

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I had a fresh and lean profile when I applied for my Amex. 6 months after a Chase/Discover card. Just something to think about.. not all people's profiles are the same, but I really think they definitely have a good shot especially with the charge card. With the no-AF the first year, that's perfect. Then in January, if they'd like they can apply for BCE or Everyday and then cancel the PRG whenever they want to afterwards. I mention this because of the max backdating and also the SP for denial, if it is a denial in January. (If it sounds interesting to them.)

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SP on Denial, but Possibly no sign up bonus on Approval HP :/