Hey y'all, I am turning 29 soon and have never had a credit card. (You have my permission to drag me and laugh, LOL)
Even though credit cards kind of scare me, it is time to finally put my big girl pants on!! I have begun making a bit more money, so I am taking on more bills between my partner and I. I also just finished paying off my car loan, so that is closed. My Equifax FICO Score 8 is 736.
I will be a bridesmaid in 2 weddings this year, and my fiance and I will have ours next year. So there are many travel opportunities coming up soon. I am looking into the Chase Sapphire Preferred, but my question is: is it ambitious/foolish to "start" with CSP?
Am I crazy to get a travel cc as my 1st cc?
byu/macualli inCreditCards
Posted by macualli
4 Comments
1. Are you preappoved for the CSP
2. Are you positive the CSP is the correct card for you based on your spend profile and chase’s transfer partners
I suggest you start with the Venture X. It has a $395 annual fee, but you also get a $300 annual credit for travel and a 10,000 mile anniversary bonus each year. You’re already at a net -$5 annual fee, but you also get lounge access and double miles on every purchase. Since you’re planning to travel, you’ll have no trouble using these credits. Additionally, there’s a 75,000-mile bonus after you spend $4,000 in three months.
not crazy to get a travel card as your first card, but be aware that travel purchases are often large and first credit card credit lines are often small even if the credit score is good. crossing my fingers for your approval. if it was me, i might apply for a couple different cards at once, credit inquiries within a short timeframe tend to count as one in the short term.
It’s not too ambitious. I will note that Chase often doesn’t like to be someone’s first credit card and likes to see you’ve done okay with a card issued by another bank before they’ll give you one of theirs. (If your car loan was from Chase, they might be somewhat more likely to approve since they know you reliably pay things back)
Capitol One seems ot be more willing to be someone’s first card, so might be a good starting point. Then maybe 8-9 months later, try for a CSP.