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A Good Second Credit Card

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Anonymous
Not applicable

A Good Second Credit Card

Hello!  I am relatively new to building my credit.  I have had a Discover It Chrome card for a little over two years now.  It was secured for a year with a limit of $200 and now it is unsecured with a limit of $1300.  According to Discover, my FICO is a 734.  I am looking for suggestions for a new card and I would like tips and input on what cards I might have an easier time getting approved for, seeing as my file is very thin.  Thanks in advance!

16 REPLIES 16
mitchblue
Valued Contributor

Re: A Good Second Credit Card

It might help if we knew what you're looking for? Reward cards, bonus, something for gas, shopping, airfare, food etc?

FICO® 8 Scores 821 FICO® 9 Equifax 826 (Updated 02-7-23)
Message 2 of 17
Blodreina
Established Contributor

Re: A Good Second Credit Card


@Anonymous wrote:

Hello!  I am relatively new to building my credit.  I have had a Discover It Chrome card for a little over two years now.  It was secured for a year with a limit of $200 and now it is unsecured with a limit of $1300.  According to Discover, my FICO is a 734.  I am looking for suggestions for a new card and I would like tips and input on what cards I might have an easier time getting approved for, seeing as my file is very thin.  Thanks in advance!


With two years of credit card history and a TU fico of 734, you can probably get approved for most cards.  Like the other poster said, what are you looking for?  If you're just wanting another simple cashback card, I would say the Quicksilver, Blispay, or Paypal Cashback mastercard (each with their own advantages).  The Quicksilver (1.5%) will be an almost sure thing for approval.  The Blispay is 2% and has 6 months no interest on purchases over $199 (love it).  The PayPal card is also 2% and through Synchrony Bank, which means the card's limit is likely to grow over time.

Message 3 of 17
AverageJoesCredit
Legendary Contributor

Re: A Good Second Credit Card

Without knowing what you are looking for, that being said, Amex seems to like thin files. They have plenty options for charge and revolving credit cardsSmiley Wink
Message 4 of 17
HeavenOhio
Senior Contributor

Re: A Good Second Credit Card

I think you definitely want a Visa or MasterCard at this point because they have the widest acceptance.

 

Capital One's Quicksilver should be a slam-dunk approval. It has a simple rewards structure, no annual fee, and no foreign transaction fees. The only downside is that they'll hard-pull all three bureaus. But because your inquiries are seemingly in good shape, you can afford to take that. The upside is that you'll never be hard-pulled again on that card as limit increase requests are all soft pulls.

 

As AverageJoe has mentioned, I think AMEX would love to have you on board. And there's a good chance that they'll approve you for a fairly generous limit. But because your only current card is Discover, I think they'd be a better choice as a third or fourth card. Like Discover, acceptance isn't as wide as Visa or MasterCard.

 

The main thing I'd avoid at this point are cards that are quirky, i.e. cards that deny applications for reasons other than one's income or score. Blispay is one of those cards. They seem to have trouble identifying people and deny on that basis, they have an odd way of determining one's starting limit, and they currently don't offer limit increases. It's the kind of app you can risk once your profile is a little thicker. At that point, a possible denial won't be a setback. And if you're approved, you'd be positioned to work around any quirks.

 

As others have said, I think you're in a good position for most cards from most banks, and I think you'll get some good suggestions here. Along with waiting for suggestions, poke around and see what interests you, and come back to this thread to see what others think.

Message 5 of 17
Anonymous
Not applicable

Re: A Good Second Credit Card

I would like no foreign transaction fees since I'm going to be in France for a good portion of 2018; maybe a travel card but I am not sure that they would accept me since they might not trust me with whatever their minimum CL is...

Message 6 of 17
Anonymous
Not applicable

Re: A Good Second Credit Card

Would it be in my best interest to check some prequalification tools online?  Will they really not hurt my score?

Message 7 of 17
HeavenOhio
Senior Contributor

Re: A Good Second Credit Card

Using pre-qualify tools won't hurt your score. They'll soft-pull you. Neither lenders nor FICO will see soft pulls. I'd head over to Capital One and Chase as their pre-qualify tools are solid. AMEX too. Look for a definite interest rate or a narrow range, e.g. 15% or 15–18%. Those are more solid pre-qualifications than those with large ranges like 12–23%.

 

Travel cards tend not to have foreign transaction fees (FTFs). And none of Capital One's cards have a FTF. Discover doesn't either, but they're not widely accepted outside of the US. Travel cards will likely have an annual fee, but with enough usage, the fee should be more than offset by the rewards.

 

Ideally, by the time you travel, you'd have two Visa/MasterCards without FTFs, just in case one of them has a bad hair day. A possible tack might be to apply for Capital One's Quicksilver now and the Chase Sapphire Preferred at the end of the year. The Sapphire Preferred has a minimum starting limit of $5,000, so approval requirements are higher. Check the pre-qualify tools, though. You might be pleasantly surprised.

 

 

Message 8 of 17
SouthJamaica
Mega Contributor

Re: A Good Second Credit Card


@Anonymous wrote:

I would like no foreign transaction fees since I'm going to be in France for a good portion of 2018; maybe a travel card but I am not sure that they would accept me since they might not trust me with whatever their minimum CL is...


You're being too humble; you've accomplished a lot to get this far, and you would be approved for most cards.

 

Some good cards with no foreign transaction fees:

 

Capital One Quicksilver

Capital One Venture

Barclays Arrival

Barclays JetBlue

Barclays Ring

Chase Hyatt

Chase Amazon

PenFed Promise

Santander Ultimate Cashback

Alliant Credit Union Platinum

 

 


Total revolving limits 741200 (620700 reporting) FICO 8: EQ 701 TU 704 EX 685

Message 9 of 17
Anonymous
Not applicable

Re: A Good Second Credit Card

+1 on the Cap1 Quicksilver recommendation. One of my most relible cards in my wallet. No AF, No FTF, it's a VISA/MC so accepted everywhere. A hassle free lender. 

Message 10 of 17
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