Credit Card Programs - Better to apply for 1 or multiple credit cards?
I am 20 years old and looking to get my first travel card. I currently have a Chase Student Card(24mths), Amex Blue(14mths) and Citi TY Card(2mths). I am looking to apply for the SPG Amex this week with the 30K sign up bonus, and keep this card for main spend. However Since the card will be backdated it should give me a good bump in credit score. So I am wondering if I should also apply for another Card such as Chase Sapphire Preferred for the sign up bonus. I can't apply for Citi Cards since I just got my last card from them, but I was thinking if I applied for the SPG it would negate any bad effects from the CSP. I would most likely Cancel the CSP after one year. I have a lot of expenses coming up for school(tuition,books etc), so I should be able to meet the spend on both cards between this month and next. My CreditKarma score is currently 742. Just wondering what everyones opinion is? I know I am young and just starting but I also don't want to leave points on the table.
Would love some help :)
Do you have any income? You mention you are a student.
You will not be able to get multiple cards like most of the people on this board if you only have about 2 years of credit history. It is not just credit score that matters.
You could give one more a try. I am not as aggressive as others on this board. I am more conservative on protecting my credit score, and I only apply for cards with points I will actually use.
Something else that you need to keep in mind is that you should never close that Chase student account. Convert it to another Chase card without an annual fee after you graduate. I like the Amazon or Freedom cards myself. But the account that is open the longest is a significant factor on your credit score.
Yes I have income from summer internships and I own my own website which generates income.
And yes I know about converting the chase student account. I actually called a while ago to try to convert it to Sapphire/Freedom because right now it earns no rewards so i rarely use it, but they told me they were unable to do so. As of right now I just leave it sitting idle and use it once every 4-5 months.