College Student With 720+ Credit Score. Which Card Should I Get?

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collegestudent1
 
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College Student With 720+ Credit Score. Which Card Should I Get?

Postby collegestudent1 » Mon Dec 02, 2013 10:57 pm

Hi all,

I'm a college student, I currently I have two credit cards. Discover it which I use every time I fill up my gas tank and BOA credit card which I use it on a daily basis.
I'm looking for the best cash back options. I have a good credit score 720-750 since I always pay my bills on time.

I've had my two credit cards for almost a year and a half. I've saved so far $100+ from my BOA only and like $50 from my discover.

I spend around a $1000 give or take every month. Do you guys think I should apply for Capital One Quicksilver since it has 1.5% or do you guys think I should go for the amex travel points.

Thank You

PS: I travel almost every single holiday.


samhradh
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Postby samhradh » Tue Dec 03, 2013 7:25 pm

What does "travel" mean to you? I imagine you're still covered by your parents when on holidays. You probably do not need a travel rewards card until you're buying your own airplane ticket, hotel room, and rental car on trips. The money you spend on vacations is likely less than your normal monthly expenses. You'll earn more with a cash back card (ignoring sign-up bonuses).

Why aren't you using the it more? It has rotating CB categories of 5% which definitely beats your BOA. Next quarter should suit a college student well. If you want another cash back card either get the Chase Freedom or Blue Cash Everyday if you spend a lot at grocery stores (with your monthly spend the Preferred doesn't make sense). I signed up for the Freedom last summer when it had a $100 sign up offer and now that it's $200 I am very, very jealous.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

DavidNY
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Postby DavidNY » Tue Dec 03, 2013 10:02 pm

Which BofA card do you have?

takeshi
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Postby takeshi » Wed Dec 04, 2013 1:54 pm

collegestudent1 wrote:Do you guys think I should apply for Capital One Quicksilver since it has 1.5% or do you guys think I should go for the amex travel points.

We really can't tell you. You need to compare and determine for yourself which suits you best. It's not a one-size-fits-all matter. On an annual basis 1.5% of $12,000 is $180. Which AmEx are you thinking of? Does your spend (you don't mention what categories it fall into and what amounts) yield more than 1 point per dollar? See what you can do with the points you'd earn and whether or not that beats 1.5% for you.

Ikarus
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Postby Ikarus » Wed Dec 04, 2013 7:18 pm

As a grad student with student cards, I'd recommend the following:

Discover IT
Citi Forward
Citi Dividend

Citi gives the highest initial credit lines.
Chase Freedom is a great card, but there is no student version.
AMEX BCE is also a great card that will give you the highest credit line of the bunch, plus a long 0% intro charge + balance transfer APR.
BoA student cards don't have great benies beyond the $100 bonus.
Merrick Bank (Hooters) 4100
Cap One Quicksilver 2800
Discover it 2500
Citi Forward 5400
Chase Freedom 1000
AMEX Blue Cash Everyday 5500
Citi Dividend 5600
Cap One Visa Platinum 750 (CLOSED)

DavidNY
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Postby DavidNY » Wed Dec 04, 2013 8:45 pm

Check out the Sallie Mae MC.

daniel2304
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Postby daniel2304 » Wed Dec 04, 2013 10:24 pm

My experience with Citi is different than Ikarus, I guess. I applied for Citi Diamond Preferred and got $1,200 initial CLI, which I was disappointed considering Amex just approved me a Bluesky with $9,500. And I already had multiple cards with much higher limit comparing to what Citi offered me. I had Chase Freedom with $6,500 and Discover for $4,500 back in 2011 already.

With your monthly expenses, I would go with Discover IT or Amex Blue Sky. I usually apply 2 at a time because the hard pulls will count only 1
All my posts are my opinions. All my posts mentioned "you" are merely for discussion-purpose only. No advice is given in any post at any time. It is also impossible for me to put effort to verify every statement that anyone has given.

trainypooh
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Postby trainypooh » Thu Dec 05, 2013 1:16 am

I'm a college student and recently applied for the Chase Freedom card. I think taking advantage of the 5% categories along with your Discover IT card can be very beneficial. Oh, both have no annual fees so thats nice too. Your credit score should be good enough to get the Freedom card.
My Wallet:
Discover IT - $9500
AMEX BCE - $9000
Chase Freedom - $5000
Capital One Quicksilver - $2700

Future Cards:
Chase CSP

ktkw
 
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Postby ktkw » Thu Dec 05, 2013 6:24 pm

Was in a simliar situation to you college student only had a 2.5k limit BofA card. I think you can go for the CSP and Freedom combo if you can report a high income.

ajacks108
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Postby ajacks108 » Fri Dec 20, 2013 12:36 pm

After my Chase College (later turned into slate) the Freedom was awesome for me. I've earned over $500 in cash back thus far. However in your situation. I would go for an everyday card. Something like the Quicksilver, someone just recommended the fidelity amex card 2% cash back and I was thinking of the PNC Cashbuilder (but only because I have a relationship bonus that gives me 1.75% cashback). Or the Amex BCE is a good choice too. Having just graduated groceries and gas sure hits hard. If your set on travel card check if your airline has a credit card. I use my United Explorer Card usually a cheaper AF then amex cards.
[size=80]Amex Premier Gold
Chase Freedom - CL $8,000
Chase United Mileage Explorer card - CL $6,900
Banana Republic - CL $4000
Chase Slate - CL $3,000
Target - CL $2000
Ann Taylor Loft - CL $1000[/size]



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