No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Which one should I open? I have excellent credit right now (780-790 fico) and want a good 10-15k limit card, but I want make sure I do not get surprises from them later (cut limits, increase APR etc). I also have a Key Bank Mastercard 10k limit which is backed by Citi. Will it matter for a new Citi account? Sometimes 1 bank does not want you to have too much credit with them.
Thank you
@Anonymous wrote:
Which one should I open? I have excellent credit right now (780-790 fico) and want a good 10-15k limit card, but I want make sure I do not get surprises from them later (cut limits, increase APR etc). I also have a Key Bank Mastercard 10k limit which is backed by Citi. Will it matter for a new Citi account? Sometimes 1 bank does not want you to have too much credit with them.
Thank you
Score alone won't dictate a $15k CL. Income, recent accounts/AAoA, number of inquiries.
I had similar scores to you but was declined by CITI due to recent inquiries and new accounts. Barclays gave me Juniper Business MC with $15k CL, 0% for 13 months, 8.24% APR standard rate.
Barclays has sup-prime services, but so does CITI. As far as the future, that is a bit of an issue. While Barclays is undergoing changes, I doubt the change will be to dump prime customers. I would imagine it more likely represents they reduce or eliminate their subprime business, which you don't appear to be in that demographic.
The Juni Biz Card I have doesn't report to my personal CR. It allows me to issue sub-cards with individual CL's, to have separate spending statements and tracking, etc. For my purposes, the Barclay's card was better. So your purpose and needs, combined with your income and circumstances needs to be a overall consideration, IMO.
IMO, as always.
I would ask Citi what their policy is for mulitple accounts to save you an INQ. In the distant past, I had multiple Citi accounts (3 I think) that were merged into 1 and some CCCs like mutliple accounts (fees). IMHO I would look elsewhere since if there is AA in the future, having 2 cards with the same backer could be an issue. I would look at a CU and stay away from the lager banks. A few months back, i got a 10k RBFCU MC card. I wanted 5k but they offered 17.5k which I lowered to 10k.
If Citi or Barclay is your only choice, I would also go with Barclay, for the diversity. If they both pull from different CRAs and based on your current INQs, you could apply for both.
Both sub prime.
PenFed or if you need CC by commercial bank US Bank.
Sub-prime is a product, not a bank. Some banks offer only sub-prime products, some only prime and some offer both.
BoA 99/500 and secured cards are subprime. However, many BoA products are strictly prime, meaning that you must be well qualified to obtain.
AMEX has Oasis. Citi and Chase have both types. CU's have secured cards and sometimes "credit builder" products, which are subprime.
A bank is not subprime. A subprime bank would mean the bank had bad credit or was financially unstable. A bank offering subprime products means they cater to those who do not have prime credit....thus subprime.
Citi and Barclays have PRIME cards and subprime. This means they each have cards that require prime (excellent credit) and they have cards that do not. Pick your product based upon your circumstances and needs. If you have subprime credit, don't apply for prime cards. And vice versa is also the case.