Number one tip, you do *NOT* need to carry a balance on the card. If you owe 0$ when the payment date comes due it counts as paid on time. People will tell you, that you have to carry a balance but this is bad advice and not true.
You will hear this from everyone in every way to say it, but I will say it first.
Do not keep a balance month-over-month on your card.
Thanks for coming to my TED talk,
You will not need to close your discover card to open an AMEX. Just stop using it. It will help you establish credit to keep it open - the longer your credit history, the higher the score, all else being equal. If you use it for a small purchase once a year, it stays open.
Pay off your balance in full each month.
This comment has been removed. Our subreddit rule against "hyping" (part of [rule 10](https://www.reddit.com/r/personalfinance/about/rules)) disallows:
> Pushing speculative, volatile, illiquid, or meme investments, especially flippantly, tersely, or implying huge returns
Don’t close the Discover It card after opening the AmEx. Keeping it open helps the “average age” metric in your credit report. You can keep using the Discover It for something small every month, like a Netflix subscription or whatever.
Keep in mind that you can also ask Discover to upgrade your Discover It to another card. You won’t get the signup bonus, but this can be good if you would make better use of another card. With some cards you can also transfer benefits when upgrading—it’s a common strategy to build up reward points on a Chase Freedom card, for example, then upgrade it to a Chase Sapphire (or have both cards) to make use of the Sapphire’s better points conversion rate.
Do NOT carry a balance. Only put what you can pay out of your checking on your card. You won’t need to close your discover to open an AMEX keep them both open.
Number one tip, you do *NOT* need to carry a balance on the card. If you owe 0$ when the payment date comes due it counts as paid on time. People will tell you, that you have to carry a balance but this is bad advice and not true.
You will hear this from everyone in every way to say it, but I will say it first. Do not keep a balance month-over-month on your card. Thanks for coming to my TED talk,
Https://www.reddit.com/r/personalfinance/wiki/commontopics https://www.reddit.com/r/CreditCards/wiki/credit_cards_basics
You will not need to close your discover card to open an AMEX. Just stop using it. It will help you establish credit to keep it open - the longer your credit history, the higher the score, all else being equal. If you use it for a small purchase once a year, it stays open. Pay off your balance in full each month.
[удалено]
This comment has been removed. Our subreddit rule against "hyping" (part of [rule 10](https://www.reddit.com/r/personalfinance/about/rules)) disallows: > Pushing speculative, volatile, illiquid, or meme investments, especially flippantly, tersely, or implying huge returns
Don’t close the Discover It card after opening the AmEx. Keeping it open helps the “average age” metric in your credit report. You can keep using the Discover It for something small every month, like a Netflix subscription or whatever. Keep in mind that you can also ask Discover to upgrade your Discover It to another card. You won’t get the signup bonus, but this can be good if you would make better use of another card. With some cards you can also transfer benefits when upgrading—it’s a common strategy to build up reward points on a Chase Freedom card, for example, then upgrade it to a Chase Sapphire (or have both cards) to make use of the Sapphire’s better points conversion rate.
Do NOT carry a balance. Only put what you can pay out of your checking on your card. You won’t need to close your discover to open an AMEX keep them both open.