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Regular Contributor
Posts: 176
Registered: ‎04-19-2011
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Best Rewards Credit Card for a Upper-600 credit score?

After two months of negotiations with companies, I have gotten my wife's credit spotless. She has several credit cards with smaller limits, all open, 100% on time and paid in full. She has one credit card to USAA with a $6k limit and a $5k balance that we're going to get paid off. No "baddies" to speak of. Oldest account is 8 years old. Her credit as it sits right now (smaller cards are still showing a balance, they haven't updated yet) is in the upper 600's. Once they've updated I am hoping for a nice jump. My credit on the other hand, I have just begun trying to fix. Anyway: I travel for work and have to pay expenses on a credit card. About $1200 a week. Company reimburses every friday but a week late so at any given moment I have $2400-$3k in their debt I am carrying. Right now, I just alternate between little cards with Wells Fargo and BoA we have that don't get any rewards. My co-workers are telling me I am missing out on a good thing. Since my credit is not good right now, we're wanting to see what my wife can get with good rewards that she stands a chance to get a decent limit on.

 

Wanting your recommendations as to what you think she would stand a chance at. AMEX would be pie in the sky. Would it be better to ask an established card for a increase? BoA gave her a $500 increase a few months ago and said they would do more if things were paid down. Now that they're paid down, they might help but they'll probably make us wait 6 months from when we got the $500. On top of that, they don't have any rewards on this particular Bankamericard.

 

Thoughts are appreciated.



03/19/2011 EQ: 627 EX: 602 TU 590 (lender pull) 07/16/2011 EQ: 646 EX: 629 TU 647 Fell off the wagon in 2012. Starting over in 2013.Current Score: 01/07/2013 EQ: 646 EX: ??? TU 608 Goal Score: 700 club

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Re: Best Rewards Credit Card for a Upper-600 credit score?

I was able to get a BoA Cash Rewards and Discover with a 650 score and about 20 baddies.  The BoA card started at a flat 1%, but they upgraded it to the 123 Cash Rewards at request after six months.  Your wife would have to really pay down that utilization before she applies, though.


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Registered: ‎05-17-2011
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Re: Best Rewards Credit Card for a Upper-600 credit score?

Amex Green maybe? If you don't get approved, perhaps your wife an apply and add you as an authorized user? $60,000 a year in spending can yield very good rewards in the MR program.

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Re: Best Rewards Credit Card for a Upper-600 credit score?

Her utilization with USAA is high, but overall it is at 23%.



03/19/2011 EQ: 627 EX: 602 TU 590 (lender pull) 07/16/2011 EQ: 646 EX: 629 TU 647 Fell off the wagon in 2012. Starting over in 2013.Current Score: 01/07/2013 EQ: 646 EX: ??? TU 608 Goal Score: 700 club

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Re: Best Rewards Credit Card for a Upper-600 credit score?

I think Chase Freedom would be good for you guys. I'm not even in the high 600s yet and they've been sending me stuff in the mail. Rotating 5% categories, 1% on everything else. Discover It is similar and I hear they've been a bit lenient in their UW standards.


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Re: Best Rewards Credit Card for a Upper-600 credit score?

[ Edited ]

Don't get any Amex Membership rewards card...those points are really terrible unless you use the Platinum business card and book Travel.  You should try for Discover IT and follow up if denied, you will get approved.  I'd also recommend the Amazon Visa card if you use Amazon at all.  They have a great reward program.  I think these are the 2 best entry level cards.  If you want to aim a bit higher, consider going for Chase Freedom.

:Capital One Spark Business $45k:::Chase Sapphire Preferred $30k:::Chase Amazon Visa $3k:::American Express BC $10k:::Chase Ink Plus $15k:::American Express Business Plum:::American Express Business Platinum::Citi Thank You Preferred $50k:::City Simplicity $10k:::REI Visa $10k::Capital One Quicksilver $15k:::American Express EveryDay $10k:::Wells Fargo Platinum Cash Back $10k:

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Re: Best Rewards Credit Card for a Upper-600 credit score?


Alcibiades wrote:

Amex Green maybe? If you don't get approved, perhaps your wife an apply and add you as an authorized user? $60,000 a year in spending can yield very good rewards in the MR program.


+1

 

But i think amex plat is a better value.

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Registered: ‎05-17-2011
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Re: Best Rewards Credit Card for a Upper-600 credit score?


gpfirestone wrote:

Don't get any Amex Membership rewards card...those points are really terrible unless you use the Platinum business card and book Travel.  You should try for Discover IT and follow up if denied, you will get approved.  I'd also recommend the Amazon Visa card if you use Amazon at all.  They have a great reward program.  I think these are the 2 best entry level cards.  If you want to aim a bit higher, consider going for Chase Freedom.


60,000 MR points can get you free flights to Hawaii, the Carribbean, etc.  This idea that MR points are "worthless" isn't really true. Ultimate Rewards points may be worth more, but MR and UR points both can have much more worth than cash back programs depending on what you want to use them for.

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