Where do I go from here?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Joined: Mon Jul 29, 2013 11:42 am
Location: Edmond, Oklahoma

Where do I go from here?

Postby Birds3ll » Mon Jul 29, 2013 11:58 am

This is my first post on the forums,but I'm sure I can get some good answers here!

Anyways, I'm 18 and I got a Discover It student card with an $800 limit. I know it's not much, but it's a start. I just paid my first statement in full for about $479 and I want to know where to go from here.

How long should I keep my student card before applying for a new one?
Is more that half of my limit too high of a utilization rate?

My goal is to get a Marriott Premier Rewards card at some point so how long do you think that would take/how hard is that card to get?

I appreciate your help!

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Postby dlgoldamex » Mon Jul 29, 2013 4:03 pm

Nice work so far! I personally waited 6 months until I applied for my second card, letting myself establish some credit history with my citi forward. I then applied for a Delta Gold Amex. These cards are easy to qualify for, and American Express gives large credit limit increases as an added bonus. Look up the amex 60 day CLI's and also backdating. Good stuff. After 60 days with the card my limit increased to $3800.

I just got the Marriott Premier Rewards card a few weeks ago, shortly after my 19th birthday. I think it is important that I waited this long to apply for the card because it is automatically a visa signature, which means that it has to have a credit limit of $5,000 or more, so you're going to need to prove to chase that they can take the risk on you. You'll see that I now have two other cards with $5k limits, but I received those increases after I was approved for this card. My highest limit was $3800 when I applied for the Marriott.

So in conclusion, for the next six months or so I would concentrate on paying your current card on time and keeping your balance below 40% whenever possible. You can achieve this by paying some of your statement before it cuts, if need be. Also, remember to keep your first card forever! This will help your Average Age of Accounts (AAoA).

Hopefully this helps! Let me know if you have any other questions, and I'm sure plenty of others will be happy to give their input as well! Welcome to the forums!
Gold Delta Skymiles -AU- $25k- 4/12
Citi Forward Visa- $6.1k- 8/12
Amex Gold Delta Skymiles- $3.8k- 1/13
BofA Travel Rewards Visa Sig- $5k- 1/13
Amex Blue Cash Everyday- $5k- 7/13
Barclaycard Arrival WEMC- $5k-1/14
Cap One Quicksilver Visa Sig- $10k- 4/15

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