Should I get my third credit card at 18, or should I wait until the hard inquiries fall off my credit report?

Help Needed / Question Forum
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Hey everyone!

Here’s some background information: In January, I turned 18 and applied for the BMO Boost credit card, which gave me a $300 credit limit. Later, in April, I enrolled in college for the upcoming school year and applied for the C1 Savor One Student card, getting approved with a $1,000 credit limit, bringing my total credit limit to $1,300. According to Credit Karma, my TransUnion VantageScore is 702, and my Equifax VantageScore is 708. I also have an income of about $15,000.

Here are the cards I’m considering:

  1. I got pre-approved for the Amex Blue Cash card and am considering it to start a relationship with Amex.
  2. I was pre-approved for the Discover student cards. If there are any offers you recommend, please let me know.

I’m unsure whether to follow through with any of these offers or just wait it out. Is it worth taking the hard inquiry for another card now in hopes of having a stronger credit profile in a few years?

Thank you, everyone!

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You can only apply for student or credit builder cards because of your limited credit history. The two you have now will be plenty for your first year because having too many of those won’t be helpful later on. You should be eligible to apply for any reward or travel card after the first year of receiving your initial card. In order to clear your 5/24 slots, start with chase. If you’re determined to get a third card right now, I suggest opening a Chase bank account with a $250 deposit and obtaining the Freedom Rise to kick off your Chase adventure. Afterwards, the merchandise will switch to a different Freedom Card.

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It could be better to wait and let your cards mature and increase given your income.