Advice for a Beginner

For just about anything you want to get off your chest about credit cards.
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Eav1277
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Advice for a Beginner

Postby Eav1277 » Sat Feb 23, 2013 5:08 am

Currently a senior in college
I am about to graduate. I will start working after graduation and be making in the 40-50k range.

So far I have:
Wells Fargo (first card)
Discover IT
Chase Freedom
Citi Platinum Select for College
BoA Cash Rewards

What would be good cards to look at? I'll most likely be applying six months or later down the line but just curious. I'll also probably be added as an AU to my father's Costco Amex in the coming months. I was thinking about applying for one of the Amex BCE, Priceline Visa, or CSP (heard it's good to combo with the the Freedom but would it not be worth it with my lower spending habits). Any other cards to look into?

Also, for my current cards, I am trying to PIF, but if I have to carry a balance should I spread the balance out across several cards or PIF all but one (where I would carry a balance). Most likely the Freedom since it has 15 or so months no interest. Thanks


AMEXPlatino86
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Postby AMEXPlatino86 » Sat Feb 23, 2013 9:31 am

I don't know IMHO I think you have enough for now (that's based off the face that I don't know how long you have held each card). Considering that you have 6 already, about to be added on to your father AMEX is 7 so I would just give your credit a rest for right now. From what I can see there should be good balance in terms of rewards and cash back.
Wells Fargo Platinum 2.100 (5/2011-cld 7/12/14)
AmEx Platinum (6/12)
Barclays Apple (6/12)
AMEX Gold Delta (5/13)
Marriott Rewards (7/14)

My credit score :cool:
EQ: unknown
EX: 762
TU: 752

ncosky290
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Postby ncosky290 » Sat Feb 23, 2013 10:36 am

Eav1277 wrote:Currently a senior in college
I am about to graduate. I will start working after graduation and be making in the 40-50k range.

So far I have:
Wells Fargo (first card)
Discover IT
Chase Freedom
Citi Platinum Select for College
BoA Cash Rewards

What would be good cards to look at? I'll most likely be applying six months or later down the line but just curious. I'll also probably be added as an AU to my father's Costco Amex in the coming months. I was thinking about applying for one of the Amex BCE, Priceline Visa, or CSP (heard it's good to combo with the the Freedom but would it not be worth it with my lower spending habits). Any other cards to look into?

Also, for my current cards, I am trying to PIF, but if I have to carry a balance should I spread the balance out across several cards or PIF all but one (where I would carry a balance). Most likely the Freedom since it has 15 or so months no interest. Thanks


I wouldn't carry a balance on all 6. I also have six and carry a balance (low balance) on 2 of them. I always PIF the Amex. It helps with CLI later down the road. And if you were going to get another card Amex BCE would be the one I would pick.
-AMERICAN EXPRESS DELTA GOLD SKYMILES - AMERICAN EXPRESS EVERYDAY -AMERICAN EXPRESS PLATINUM - CITI DOUBLE CASH - CITI PLATINUM AADVANTAGE - CITI THANK YOU PREFERRED - BARCLAYCARD ARRIVAL PLUS - DISCOVER IT - CHASE SAPPHIRE PREFERRED-

MemberSince99
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Postby MemberSince99 » Sat Feb 23, 2013 10:45 am

I agree with these guys. I have about as many cards as you do, and I find it a hassle trying to keep track of them all. You may not so maybe that's not a biggie for you. But I just don't feel I could manage more myself. Some people want 20 or more, that would drive me nuts. In practical terms as mentioned maybe an Amex but at what point does it become a PITA?

Sevenfeet
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Postby Sevenfeet » Sat Feb 23, 2013 5:44 pm

You have better cards than a lot of people do who are 10 and 20 years older than you. Like the others said, I wouldn't worry too much about something new. The only thing I could see you adding is a restaurant-focused card, but you pretty much seem too have everything else down pat. A Freedom, a BofA Cash Rewards and a Discover IT before you have a college degree? You must be living right.
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

Eav1277
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Postby Eav1277 » Sat Feb 23, 2013 8:33 pm

Thanks for all the advice. I have had the visa since senior yr of hs. So i think that helped me. my credit score was 718 experian when i started my app spree. N im definitely holding off for a while. I'm just a planner/researcher by nature so I wanted to see what/if any cards would be recommended for the future (6mos to a year at least). I only wish I had gotten the forward instead of dividend (since I eat out a bit, use amazon a bit, and i already have the freedom and discover with five percent categories). Thanks again for the advice. I ll def hold out for a while. Only card I mite add anytime soon is the Costco amex as an AU since it doubles as a membership card and ill prob start shopping at Costco more when I start working this fall

Eav1277
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Postby Eav1277 » Sat Feb 23, 2013 8:39 pm

Just curious what are considered the best restaurant cards? Luckily my discover has the 5 percent category for restaurants thru March (useful since us college kids love take out and delivery when we get swamped with work)



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