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Started By
Message
Credit Card options for recent graduate?
Posted on 1/22/14 at 12:34 pm
Posted on 1/22/14 at 12:34 pm
Graduated a year ago and I'm up to three credit cards now, but looking to maybe add another one.
While in school, I got a Discover Card (cash back) to start out, and have since added Southwest Rewards Visa and AMEX Hilton Rewards. I visit family a lot and use Southwest, so I get points from that, and I wanted to start building hotel points. I rarely use the Discover Card anymore.
Is four cards too much for someone in their 20s?
I do travel a lot for work so maybe a gas card would be an option.
Thanks
While in school, I got a Discover Card (cash back) to start out, and have since added Southwest Rewards Visa and AMEX Hilton Rewards. I visit family a lot and use Southwest, so I get points from that, and I wanted to start building hotel points. I rarely use the Discover Card anymore.
Is four cards too much for someone in their 20s?
I do travel a lot for work so maybe a gas card would be an option.
Thanks
6
Posted on 1/22/14 at 12:41 pm to Mr BowTie
AMEX Platinum or bust.
No. I'm kidding. My first credit card was a MBNA. My APR is under 10% on that thing. Best credit card ever
I still keep it open. Since 2005.
No. I'm kidding. My first credit card was a MBNA. My APR is under 10% on that thing. Best credit card ever
I still keep it open. Since 2005.
Posted on 1/22/14 at 1:17 pm to Mr BowTie
Credit Union - limit yourself to 1 revolving credit card and keep your utilization under 50% (meaning never carry a balance of over half your credit limit).
Good luck and stay out of bankruptcy court.
Good luck and stay out of bankruptcy court.
Posted on 1/22/14 at 1:24 pm to Mr BowTie
If you can qualify, I would suggest the Barclay Arrival card. They are currently offering 40,000 bonus points, you get 2 points for every dollar, and you get 10% of your points back whenever you redeem them.
Posted on 1/22/14 at 1:33 pm to MG
quote:
you get 2 points for every dollar, and you get 10% of your points back whenever you redeem them.
If you redeem them on travel. Not just any random transaction, but yes it still works since he said he would want something for hotels, but more details would be nice.
Ace Midnight, I'd give you a heart attack with the six credit cards I've gotten in the last twelve months
This post was edited on 1/22/14 at 1:40 pm
Posted on 1/22/14 at 1:36 pm to Mr BowTie
Are you single, or do you normally fly alone?
Posted on 1/22/14 at 1:40 pm to Teddy Ruxpin
quote:
I'd give you a heart attack with the six credit cards I've gotten in the last twelve months
Same here Teddy!
Posted on 1/22/14 at 2:06 pm to Teddy Ruxpin
quote:
Ace Midnight, I'd give you a heart attack with the six credit cards I've gotten in the last twelve months
I had 6 credit cards once (probably 8, heck, I lost count) - then I learned they were slave's chains that almost drowned me. I'm not preaching against a demon I haven't seen, trust me, friends.
Posted on 1/22/14 at 2:08 pm to Ace Midnight
Ya, some people can't handle it and have to do what they got to do.
Posted on 1/22/14 at 2:11 pm to Ace Midnight
My wife got 5 today. She doesn't know it yet, but she will soon .
She won't get anymore for a while though.
. She won't get anymore for a while though.
Posted on 1/22/14 at 2:28 pm to LSUAfro
My fiancee asked if I had her social. Yes, in fact, for strategic purposes I do! I'll never convince her into an App-o-rama though
This post was edited on 1/22/14 at 2:29 pm
Posted on 1/22/14 at 2:38 pm to Teddy Ruxpin
quote:
Ya, some people can't handle it and have to do what they got to do.
It's not even that - it is necessity is the mother of invention-type wisdom. If you rediscover the great and powerful word "No", and live that word while you're in your 20s, then you can start saying "Yes" a lot more often, then eventually, almost always.
On the other hand, if you say "Yes" too much in your 20s, you'll have to say "No" pretty much always after that.
Sad, but true.
Posted on 1/22/14 at 3:08 pm to Mr BowTie
I was talking about getting another credit card or two the other day and my sister vehemently said not to. She worked in banking for a while and said unless you are really going to use them regularly it is bad for your credit. I actually know a lot more about all financial topics than my sister except in this field. Is she right? Credit is not my expertise by a long shot.
Posted on 1/22/14 at 3:14 pm to beaverfever
What kind of banking did she work in? Working in banking doesn't make you an expert or even competent in all things financial.
Posted on 1/22/14 at 3:14 pm to Teddy Ruxpin
quote:
I'll never convince her into an App-o-rama though
She doesn't know she did an app-o-rama. haha. I just sign up as an authorized user and hit the spend and put it in the drawer. I got her the Barclays USAir card and City AA preferred and she has no other accounts with them so she'll never even know she has them. Just as well that way. Her FICO was in the 780 range last time it was pulled. That's all she cares about.
Posted on 1/22/14 at 3:16 pm to beaverfever
quote:Not at all.
She worked in banking for a while and said unless you are really going to use them regularly it is bad for your credit.
Posted on 1/22/14 at 3:17 pm to Ace Midnight
quote:
I'm not preaching against a demon I haven't seen, trust me, friends
I hear you man. I've seen way too many clients with such problems. The thing is, if you are smart about how you use them, they can be a real help. I mean hell, if I can get money just for paying the bills I was going to be paying anyways, hell yea!
Its the darker temptation though that gets you
Posted on 1/22/14 at 3:19 pm to GoCrazyAuburn
quote:
if I can get money just for paying the bills I was going to be paying anyways, hell yea!
That is exactly what I am doing. Haven't bought a single thing that I wouldn't have otherwise.
Posted on 1/22/14 at 3:19 pm to Dead Mike
quote:lol hence me saying that I knew more about almost everything else in finance. She worked for Chase doing credit card apps and cd's and stuff.
What kind of banking did she work in? Working in banking doesn't make you an expert or even competent in all things financial.
Posted on 1/22/14 at 3:20 pm to GoCrazyAuburn
quote:Friends/family that I get to play the credit card reward game I heavily emphasize that paying interest on these cards completely negates the point of playing the game. This is not money
Its the darker temptation though that gets you
. 
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