Credit building and structuring after moving to the US

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Joined: Tue Nov 06, 2012 8:57 pm
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Credit building and structuring after moving to the US

Postby buildingcredit » Tue Nov 06, 2012 9:22 pm

Hey everyone, this is a great forum!

Just need some guidance from you fine folks. I recently moved from north of the border down's been 6 months. I really want to establish a good credit here and I have plans to purchase a car in the future (just driving company car now).

Anyways, when I moved here I opened a checking account with BofA and they were also able to get me a student card with 1k limit. Since then I have been using that card (keeping it at around 30% utilization) and paying it off every month. Last week I also applied for the Capital One new comers rewards card and was approved for another 1k. So I'm going to start using this one too from now on.

I would just like to know all your ideas on what future cards I can look forward for and when to apply..etc. I would obviously like to have more limit, when can I just ditch the student one and apply for a new one? Or should I try to increase the limit on the student?

I'd like to eventually get the Amex or Chase cards, but I'd figure my score would be still a bit low for that..I don't know. What's everyone's opinion? I'd love to hear everyone's opinion! Thanks!!

Money card
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Postby Money card » Thu Nov 08, 2012 10:42 pm

well right now I see that your driving a company car. do you travel on business? if not there's no reason to discuss any airline cards
but if you want a list of some very nice cards I will make a list for you.
American Express green a very nice card lot's of sales people who travel on business has this card.
both golds
the platinum
you mentioned chase for low interest there's the slate
for rewards the Chase Sapphire and chase Freedom
capital1 they have a cash back card
I'm wondering what the No Hassle card is or was the same commercial that showed what is face saying no all the time
the venture card which is a rewards card for people who travel blue level or for people who want a card that a sales person would have this would be the gold level
Discover very basic and simple the Escape which is a travel card that has a 60.00 annual fee, the miles which also gets 2 points per dollar
this one has no fee, the More which is a rewards card has the rotating categories like the chase Freedom 5% cash back
the Motiva is another low interest card from what I was told they offer no rewards
the citibank dividend which is a cash back card like the Freedom, the More they rotate the 5% in certain categories every 3 months.
the thank you is a travel card like the sapphire and venture card.

which card is best for you depends on what you use your cards for, example do you like to shop at Malls, out to eat, gas groceries
what do you use your cards for if you do travel then we can discuss airlines and hotels.

I would say if your no longer a student you no longer need a student card. I would say now is a good time to apply for a card that is appropriate for you.

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Postby Robrus1 » Fri Nov 09, 2012 11:38 am

I'd wait until you have a solid year of credit, and no late payments. Since you just got a new card I wouldn't apply for anything else for at least another 6 months. After that, it just depends on what sort of card would be most rewarding to you, how much you spend per month, and whether or not you want an annual fee card or not. After you have a year of good history, you should apply for 1 card that you want. Don't cancel the student card or the Cap1 until you've obtained the card(s) you want, or until your credit score looks really good.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

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Postby agustin02 » Sat Nov 10, 2012 7:31 am

I think if you have your American Express green then don't worry. American Express green a very awesome card, many of sales reps who travel on business has this cards.

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Postby buildingcredit » Tue Nov 20, 2012 8:30 pm

Thanks for the advice guys.

I think I will hold out for another 6 months then. I recently tried to apply for the Amazon credit card but got declined...( I make lots of Amazon purchases). The reason was my credit history was still too young.

Can't wait to build more credit so I can get the better cards :)

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