- Posts: 1
- Joined: Sat May 17, 2014 10:13 pm
- Location: Michigan
This will be my first post at CreditCardForum, so I thought I should give a brief history.
My first credit card was a National City Visa I got in the first half of 2007, and my mom co-signed. This was right before a study abroad program in Spain, and she thought I should have something for emergencies. The CL was $5,000 initially, with a later CLI to $6k. My second credit card I obtained in the fall of 2007, a Chase Amazon.com Visa. This was the start of my sophomore year in college. It was approved for a credit limit of $2,000, with later CLIs to $3k then $3.3k.
Fast forward to 2010, due to a series of dumb decisions in college, I had almost maxed these cards out (about 90% utilization), and had gotten an HSBC card ($1,000) and a CreditOne MC ($500), both of which I used for a 0% balance transfer offer. I was juggling minimum payments on all four cards through grad school and a low-payed research job in 2011.
Starting in February 2012, I began a new career with a modest but stable salary. First, I paid off the HSBC and CreditOne cards completely, and paid off the Chase Visa after a few months. I prioritized those first, as the other card (now a PNC Points Visa) still had a 9.9% APR, the lowest of the bunch. I have now closed the low-limit HSBC and CreditOne cards, and my AAoA on my remaining revolving accounts is about 7 years.
Finally, this month I will be paying off the PNC card, which feels like a huge relief. I've been making a lot of other grown-up type financial decisions this year, including new brokerage and savings accounts. I have vowed to always PIF my cards from now on, since my monthly budget now has breathing room. My only remaining debt is about $18k in student loans, which I am targeting to pay off by the middle of next year. I am now making about $55k per year.
So I come to the forum with some questions. As I start out on the credit journey again, I would like some new cards in my name that reflect my current financial standing. I am thinking about the Amex Gold Delta SkyMiles card, as I am traveling a lot through our Delta hub here and would like to start a relationship with Amex.
Beyond that, I was wondering if people had advice about the 2 old cards. I would like to keep the relationship with Chase, and would ideally like to PC to a Chase Freedom or perhaps Chase Sapphire Preferred. Separately, I know that the PNC Points card is not very good, but I want to keep that history intact as well. Do you know if I can take my mom off as a co-signer, and would that be worth it?
Thanks for all the advice on this board - very helpful!