Future Card

For just about anything you want to get off your chest about credit cards.
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Eav1277
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Future Card

Postby Eav1277 » Fri May 09, 2014 5:27 am

Hello,

I am currently finishing graduate school and won't be applying for a new credit card until after I get a job (at least another two years away). While there could be a new card introduced or terms could change in that time period, I was wondering which card might be a good addition? So far, I have the Chase Freedom, Citibank Dividend, BoA Cash Rewards, Discover It, Gold Delta Amex, and Wells Fargo (first visa. not sure of the name). I know I am at a good amount of cards (if anything I could perhaps drop one or two). I maintain low balances if I don't PIF. Should I just maintain these and get cli's over the years or is there any card that might make a good addition (in the future)? I was thinking either CSP, one of the Amex Charge Cards, or some other travel/airline/hotel card if I were to try to get anything. Thanks for any and all advice.


MemberSince99
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Postby MemberSince99 » Fri May 09, 2014 7:06 am

Dude, I will tell you up front, you should worry more about getting a job and making some $$$ before you worry about CLIs and adding more cards to an already big pile.


But it's your life and your credit and if they will approve you and you can handle it, more power to you.

Eav1277
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Postby Eav1277 » Fri May 09, 2014 10:24 am

I appreciate the candid advice. I know credit is a privilege and not a right. I've worked hard to build it up over time. I've tried to front load my cards/apps so I'd have a good amount of credit/high credit score By the time I graduate from grad school. I'm hoping to start saving up right away after graduation and give myself the best ability to apply for a mortgage whenever or if the time comes. I've used my credit responsibly. I chose my school based on an amazing scholarship. I work part time. Lastly, I feel good about my chances after graduation (based on the school and field I chose).

However by nature I just research things. The question was more of a hypo that I won't act on for a while. I just finished my last finals so I have a bit of free time until my summer position starts. Thus the reason for exploring random possibilities.

takeshi
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Postby takeshi » Fri May 09, 2014 10:25 am

Eav1277 wrote:I was wondering which card might be a good addition?

Define "good". What are you looking for? Selecting cards isn't a one-size-fits-all matter.

Eav1277 wrote:I was thinking either CSP, one of the Amex Charge Cards

How did you decide on these? Give us a better understanding of what you're looking for.

Eav1277 wrote:or some other travel/airline/hotel card if I were to try to get anything.

What companies would you redeem awards with? To go back to the prior bit I quoted -- have you looked at the UR and MR transfer partners? What are your major spend categories?

Eav1277 wrote:Should I just maintain these and get cli's over the years or is there any card that might make a good addition (in the future)?

Again, depends on what you're looking for and whether or not you're happy with your current set of cards or think you'd benefit from new cards.

Eav1277
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Postby Eav1277 » Fri May 09, 2014 11:04 am

I am hoping to figure out which cards give me the most value per dollar spent. As you can see, initially I valued cash back but I do fly and use hotels from time to time. I'll prob do it more over time. So id prefer a travel card that 1) gives me the most points per dollar I spend and 2) has the highest value per point converted (to hotel or travel). I don't have a preference when it comes to airline or hotel chain.

Volcanon
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Postby Volcanon » Fri May 09, 2014 12:11 pm

MemberSince99 wrote:Dude, I will tell you up front, you should worry more about getting a job and making some $$$ before you worry about CLIs and adding more cards to an already big pile.


But it's your life and your credit and if they will approve you and you can handle it, more power to you.


Heh heh. I wish I found a forum like this when I was still in College. Years after graduation when it came time to get a mortgage, my credit was good, but not great. If I paid more attention to the credit system rules back then I would have been in a better situation for interest rates. I didn't make any major mistakes, but I still made some missteps like closing old helpful accounts. Thinking about this stuff early is such an advantage! - but I get your point. He's got a lot of card already. :)



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