I'm 23 y/o with 742 credit score - Which card should I go for?

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NecessaryPaper
 
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Joined: Thu May 03, 2012 9:09 am
Location: boston

I'm 23 y/o with 742 credit score - Which card should I go for?

Postby NecessaryPaper » Thu May 03, 2012 9:37 am

I am a recent college graduate trying to spend money as smart as possible and this seemed like a great place to ask. (I have been doing a lot of reading here lately)

*23 Years old
*Currently making $28,000... soon to be $40,000+ (Temp to hire situation)
*Credit Score of 742+
*Have had a credit card for 5+ years now, no rewards just built credit (student loans helped too)

Things I am looking for
*No/minimal annual fees
*Cash back (Investments are a plus)
*I pay my bills on time every time and am not concerned about interest rates, just rewards

What I came up with
*Fidelity® Investment Rewards® American Express® Card (To use on all purchases and build my investment portfolio)
*Chase Freedom® Visa or Citi® Dividend Platinum Select® Visa® Card

I really like the Fidelity card and believe I am going with it, the question is what to use when I run into a vendor that wont accept AMEX

Few last quick questions and I would be grateful to hear opinions on
*Do you think I am able to apply for these cards now or should I wait till I am 40k+
*Are there better card options out there
*Should I apply to more when I begin applying assuring I end up with at least 2
*Would moving balances between cards compound my rewards?

Thanks in advance.

Brian


Money card
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Postby Money card » Sat May 05, 2012 10:34 pm

Which credit card did or do you have/had? Was it a student card? Name of card and bank or store name?
I see you're interested in cash back cards.

NecessaryPaper
 
Posts: 2
Joined: Thu May 03, 2012 9:09 am
Location: boston

Postby NecessaryPaper » Sat May 19, 2012 5:13 pm

Which credit card did or do you have/had? Pretty standard Capital One Visa card, I got it when I was 18 so it is certainly time for an upgrade.

Was it a student card? Nope, but my student loans sure contributed well to my credit score. Name of card and bank or store name? Capital One and Citizens Bank, I am going to be researching which bank fits me best once I figure out what CC works best for me in the long run.

namvet
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Postby namvet » Sat May 19, 2012 6:25 pm

Which bureau is your 742+ score on? Is that score a real Fico score? Do you have just one credit card? What is your credit limit?

Money card
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Postby Money card » Sun May 20, 2012 12:23 am

I would say since you are looking for cash back card the chase Freedom, the Citibank dividend would be appropriate for you.

you get a 5% cash back rotating on popular categories like groceries, movies, gas stations, department stores, fashion and restaurants. categories that are not in the 5% for that quarter get 1% back. but you have to sign up and ask about the cap.



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