24 yr old grad student here, What should be my first Amex card?

American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
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EDMD
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24 yr old grad student here, What should be my first Amex card?

Postby EDMD » Fri Feb 14, 2014 11:52 am

I've been eyeing the Blue, thinking long term here.

I'm a grad student looking into getting an Amex card in the next year. It will be the last major card to get, and the last credit card in general for a few years so that I can establish credit and work on CLI on what I have vs more cards. I would hope that Amex would have the highest CL on all my cards.

I'm in the 660s so I won't even apply until I hit 700+.I have about 36% total utilization that should be paid off in full within the next month or two. Then plan to only use 10% total utilization, hopefully raising my credit score steadily. This is what I have to work with until graduation and residency, so obviously my income isn't up there but I want to start now so that when I do start working, I have the credit history with CLI on my major cards reflective on my score/income.

I have:
US Bank Visa Platinum Flexperks Travel Rewards 3K
Cap One Mastercard Platinum 2K
Cap 1 Journey $500 (use for gum kinda card once a month, then put away :rolleyes :)
Chase Freedom $500 (plan to have this increased before applying for an Amex)
My fav: Discover IT $1400 (wait before asking for an increase in the next 6 months).

Thanks for the input!


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djrez4
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Postby djrez4 » Fri Feb 14, 2014 2:29 pm

Depends on your spending, but the BCE is a good place to start.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

MrMosby
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Postby MrMosby » Fri Feb 14, 2014 2:39 pm

Other things to consider - are you going to want to redeem for travel or cash.

If you want cash as @djrez4 said BCE is a great card, so is the BCP if you have enough Grocery Spend/Gas Spend to offset the annual fee. Both are credit cards

If you want points to travel Starwood Preferred is probably the best value there, or the Premier Rewards Gold. Starwood has a lot of transfer partners and is the highest value hotel chain - also a credit card. If you don't plan to ever stay at Starwood and the transfer partners of choice are with MR, then PRG is probably the better bet - but it's a charge not a credit card.
Everyday Preferred $45K | Amex Platinum NPSL | Citi Hilton HHonors Reserve $45K | Delta Platinum $30K | Chase Sapphire Preferred $64K | Citi Hilton HHonors $45K | Discover IT $25K

alb3rt018
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Postby alb3rt018 » Sat Feb 15, 2014 7:08 pm

Start with Amex Gold
Amex Gold:
Amex Jetblue 6k
Chase Sapphire Preferred 5k
Discover 3k
Capital One Venture 3k
Capital One Quiksilver 2k
Capital One MTV 500

samhradh
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Postby samhradh » Sat Feb 15, 2014 10:01 pm

alb3rt018 wrote:Start with Amex Gold


I do not agree. First ask yourself the questions we always tell people to ask: Cash back or travel rewards? Go from there depending on if you want to pay an AF and what your top spending categories are.

We cannot tell you what your first AmEx should be no more than we can tell you if God does exist.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).



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