some advice, please?

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fire34fighter
 
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Joined: Wed Jul 07, 2010 4:52 pm
Location: olney

some advice, please?

Postby fire34fighter » Wed Jul 07, 2010 4:58 pm

Hello,

My name is Brian. I'm relatively young (20) and am trying to continue to build credit. I currently have a student visa card which I have used for the past 3 years(although I am no longer a student, I haven't updated that yet) with a limit for $1,000...I applied for a Discover More rewards card about a year ago and was denied. I applied again about 2 months ago and was denied again....I currently make 40K a year(have only been employed by current job for about 3 months now, but it is a county job(fire/rescue)) and pay $150 cash rent each month...I have no student loans, however I just got a loan for a laptop (24 months with about an $80 month payment)...The loan officer told me my equifax was 733....I'd like to pick up another credit card but I'm not really sure where to go...I was looking at the american express blue cash card(i read the part about getting the sky but I don't fly so that'd be no use) since I can't get a discover card....I was also considering applying for the discover card that sams club has as part of their membership....Any advice on where I should go from here?


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Mogul of Pineapples
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Postby Mogul of Pineapples » Sat Jul 10, 2010 11:40 pm

Hey Brian, don't get discouraged. It sounds like you're in a great place in life, being that you have a county job that sounds stable, low expenses and little debt. I'm surprised that Discover denied you again 2 months ago. Did you want that card because of the 5%? Because there is a similar one from Chase that probably has less strict requirements, the Chase Freedom card.

I'm not so sure about the Blue Cash because you need to spend a lot to get the full rewards with it. From what I gather its requirements for approval are similar to Discover, meaning it might be hard to qualify for even if the rewards program fit your spending.

On the laptop loan 24 months at $80 is $1920. What's the APR on that?
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

fire34fighter
 
Posts: 2
Joined: Wed Jul 07, 2010 4:52 pm
Location: olney

Postby fire34fighter » Sun Jul 11, 2010 8:39 am

Thank you. I will try the chase freedom card. I am just trying to get a good rewards card, as the one I have now does not have any. The laptop was $1780 so I'm only paying about $110~ in interest...I could have bought it straight cash but I want to establish more credit as the county has housing assistance programs and I should be in a position to buy a house in about a year. The loan is at 6%.



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