- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Best Credit Card for mid-20 year old
Posted on 5/22/21 at 3:21 pm to atrain5
Posted on 5/22/21 at 3:21 pm to atrain5
one thing you should also do when starting off with credit is try to open multiple cards that you plan on just holding onto indefinitely so you can start building some aging in your credit profile. You dont have to use them besides like once every 4 months ago to keep them from shutting it down for inactivity.
Lets say you only get one card and 5 years later you get another card... your average age of accounts will plummet to 2.5 years which could have a noticeable impact on your credit score.
But lets say you got 5 cards and 5 years later you get a 6th... your average age drops to only 4.16 years.
Lets say you only get one card and 5 years later you get another card... your average age of accounts will plummet to 2.5 years which could have a noticeable impact on your credit score.
But lets say you got 5 cards and 5 years later you get a 6th... your average age drops to only 4.16 years.
Posted on 5/24/21 at 6:56 am to audioaxes1
quote:
one thing you should also do when starting off with credit is try to open multiple cards that you plan on just holding onto indefinitely so you can start building some aging in your credit profile. You dont have to use them besides like once every 4 months ago to keep them from shutting it down for inactivity.
Lets say you only get one card and 5 years later you get another card... your average age of accounts will plummet to 2.5 years which could have a noticeable impact on your credit score.
But lets say you got 5 cards and 5 years later you get a 6th... your average age drops to only 4.16 years.
I don't know who downvoted this but it is very solid advice.
Average age of credit cards is a significant consideration on FICO models.
I'd recommend to get only cards with no annual fees.
If you are "just getting started" or "building credit" or "have a thin file", I'd expect your available credit card options are limited.
Amex is great, as are others, but traditionally has been approved for good credit, as opposed to building credit; that may have changed lately, I don't know.
I'd recommend capital one to build.
Even better, if you have any direct or familial connection to the military, try to get an account with USAA or NavyFCU. They will often often extend credit with decent limits for clients with less than stellar files.
Popular
Back to top
![logo](https://images.tigerdroppings.com/images/layout/TDIcon.jpg)