Starting Over with New Cards at 26

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Starting Over with New Cards at 26

Postby Zephyr » Sat May 17, 2014 11:14 pm

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 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!

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Postby MemberSince99 » Sun May 18, 2014 4:09 pm

I've never dealt with PNC and have no idea what their policies are. You might want to call them and find out as that's going to be more fruitful than asking on internet forums most likely.

PC'ing the Amazon to something more in line with your needs is a good idea if they will allow it. It's always YMMV with that kind of thing so again the only 100% certain way to get an answer to that is call them and ask. We can speculate what your odds of them allowing that are until the cows come home and it's meaningless. It's pretty easy to pick up the phone and make a call and is a good idea as you will keep that history.

Not sure what the question was on the Amex, but if you want a card with them, the Delta is as easy a revolver as they have to get so that would be a good one to shoot for. Good luck with it!

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