I am 21 years old and am new to credit cards. It has been two months since I have been approved and started using my Capital One Secured Mastercard. I have a credit of only $200, but Capital One said they will increase my limit with good payment history. It's not much, but it's a start!
I have been using only 30% of my credit and paying in full, through multiple payments spread out over the month. I have decided to apply for college and I am awaiting their responses (wish me luck!!). Anyway, by the time I should enter college I should have at least a 9 month credit history with this capital one card. At this point, I am planning on applying for another card. I have two questions:
- I am looking for cash back/rewards. Do you think I should get a "student" card (Capital One Journey has a good cash back deal!) or just forget it and apply for a regular cash back/rewards card? If so, which one?
- Will a 9 months of good credit be enough to be accepted for most regular/student credit cards? Do you think I will have a good credit score (if I used only 30% of my credit, make regular payments, and have no balance due at the end of the month)?