I've been lurking around for a few months and it's been very helpful in learning about credit. I'm a "beginner" - I received my first CC from a credit union about 8 months ago, which was probably generous as it was an unsecured card. I only used it occasionally and paid in full every month. After 7 months (and with an upcoming vacation) I applied for a Discover IT card, which I was approved for (at the time i had a thin file but Experian and TransUnion both pulled high 700s for me).
So now my credit looks like this:
- Credit Union Visa Signature with a limit of $500.
I really don't like this card; they charge a web pay fee every time you pay, it has no rewards, and the CU doesn't have such great service. There is a Visa Platinum CU rewards card available at the CU but with my short credit history I probably won't be approved.
- Discover IT card with a limit of $4,000.
I like this card, and Discover's service so far. I have about $650 balance which should be paid in full in the next few weeks, which is left over from my holiday. I love how I can use the rewards to get discounts on everyday necessities like gas and even my contact lenses.
- Fidelity Rewards Amex
for a thin file and no revolving credit. I knew I was going out on a limb for this one. I do have an investment account with Fidelity so was hoping somehow that would help but guess not. This one I paid for; I got hit with two hard inquiries by BoA.
Right now my utilization is about 14%. My fako score from CreditSesame is 732 (down from 736) and CK says 690 (which is down from 706). I don't have any other debt, and make about $35k a year.
My main concerns are:
- Lack of acceptance of Discover card by merchants that cause me to fall back on using my Visa card that I really really don't like.
- Lack of any Amex card which is not a big deal, but again very annoying when going to merchants that only take Amex or cash.
- Lack of rewards from sectors like restaurants, amazon, travel that the Discover IT doesn't cover. I live in a metropolitan area and frequently eat out for lunch and dinner so this to me is a wasted opportunity to earn back some of my expenses.
- Growing good credit!
So..where do I go from here? Wait six months and ask my CU for a different card or CLI? App a new card right away? Or just sit back and keep my cc usage low or "garden". Any advice would be great, thanks!