- Green Member
- Posts: 8
- Joined: Tue Dec 25, 2012 8:23 pm
- Location: Cleveland
I am new to the forums, recently moved to the US, wasn't very savvy with how credit works here. I applied for a no. of different credit cards after I got my ssn and got rejected by all. Then, learned about secured cards, got it from PNC which on retrospect wasn't a good idea. I think boa or usbank are better as they unsecure after a year of good history.
So, I am still learning about this credit game (or so I think) here in the US and this forum has been a great help in clearing things up over the last few weeks. Only regret is, found it a bit late and ended up having 6 hard inquiries on my report with out any credit lines. Now, after 7 months of building up a history decided to go on an app spree, since I received pre-approved offers from discover and capital one.
I went ahead and applied for more and no-hassle cash rewards, approved for both. My FICO at this time was 724. Got rejected for chase freedom. Applied for a PRG-amex recently to take advantage of backdating, was approved. Now, I have 3 unsecured cards albeit with low limits, should I cancel the secured card before it completes a year? Will it be bad for my credit to cancel it before it completes year and what is the process after that considering they don't unsecure it?
Secondly, is it wise to apply for an amex revolver (looking at delta gold) in jan to take advantage of backdating? I already have 10 hard inquiries on my report, 4 recent.