Good news Next step?

[sbboy]

So after seeing my credit scores plummet due to poor choices with my first two credit cards in college I found myself with two closed CCs, and FICOs in the high 500s. The last year and a half I have read these forums and taken the advice to heart and slowly eliminated debt, and seen my scores rise to low 700s. I was gunshy about applying for a new CC for fear of getting denied due to past discretions, but decided to have a little faith that hard work pays off. I knew I needed some revolving OPEN debt to continue my credit growth. After lots of research I decided to apply with USAA(I'm Active Duty Air Force), because I've heard some good things.

I was instantly approved for the USAA Cash Rewards Platinum Visa with a $9,000 CL  and 11.9% APR. Considering a year ago I was declined financing for an $800 mattress at a furniture store, trust me when I say this was an amazing feeling.

I wonder if considering USAAs rep as not being very good for rewards, if you all would recommend me applying for another card that's better for rewards. My reasoning is, the USAA card will be perfect for emergencies/bigger ticket items, but otherwise doesn't offer me much in terms of day to day transactions. Would a second card for those items be wise? Or should I just be happy with this one and use it for a while?

Thanks for any help!!!

[Anonymous]

First off, Congrats on the USAA, and if your scores are in the low 700's, I'd check out Chase. The freedom is one of the most generous rewards cards out there

[CS800]

YOu could try the NFCU Visa/Personal Line of Credit combo.

[Ms-Kato]

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@Anonymous wrote:

First off, Congrats on the USAA, and if your scores are in the low 700's, I'd check out Chase. The freedom is one of the most generous rewards cards out there

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True they are one of the best for rewards but it only applies to certain things during the different times of the year.

As for me I don't intend on buying any of that stuff other than GAS and Grocery and it's only 6 months of the year with chase freedom.

I want cash back gas/grocery all year round ..I'm just trying

to build credit to get score up for best mortgage rate and don't want to get in debt .

No plans for vacation or any big ticket items for the next year

[SevenNEW]

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@Bluerain wrote:

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@Anonymous wrote:

First off, Congrats on the USAA, and if your scores are in the low 700's, I'd check out Chase. The freedom is one of the most generous rewards cards out there

---

True they are one of the best for rewards but it only applies to certain things during the different times of the year.

As for me I don't intend on buying any of that stuff other than GAS and Grocery and it's only 6 months of the year with chase freedom.

I want cash back gas/grocery all year round ..I'm just trying

to build credit to get score up for best mortgage rate and don't want to get in debt .

No plans for vacation or any big ticket items for the next year

---

The solution is Amex Blue Cash (Preferred or Everyday). Your  scores are still a little low for that, but you can always garden for 6 months or so and see where you are at.

[smc733]

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@SevenNEW wrote:

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@Bluerain wrote:

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@Anonymous wrote:

First off, Congrats on the USAA, and if your scores are in the low 700's, I'd check out Chase. The freedom is one of the most generous rewards cards out there

---

True they are one of the best for rewards but it only applies to certain things during the different times of the year.

As for me I don't intend on buying any of that stuff other than GAS and Grocery and it's only 6 months of the year with chase freedom.

I want cash back gas/grocery all year round ..I'm just trying

to build credit to get score up for best mortgage rate and don't want to get in debt .

No plans for vacation or any big ticket items for the next year

---

The solution is Amex Blue Cash (Preferred or Everyday). Your  scores are still a little low for that, but you can always garden for 6 months or so and see where you are at.

---

Or the BofA Cash Rewards 1-2-3 will also yield 3% on gas, 2% supermarkets, 1% everywhere else, and may be a bit easer to get.

[Ms-Kato]

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@SevenNEW wrote:

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@Bluerain wrote:

True they are one of the best for rewards but it only applies to certain things during the different times of the year.

As for me I don't intend on buying any of that stuff other than GAS and Grocery and it's only 6 months of the year with chase freedom.

I want cash back gas/grocery all year round ..I'm just trying

to build credit to get score up for best mortgage rate and don't want to get in debt .

No plans for vacation or any big ticket items for the next year

---

The solution is Amex Blue Cash (Preferred or Everyday). Your  scores are still a little low for that, but you can always garden for 6 months or so and see where you are at.

---

 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

How high do my scores have to be for Amex Blue Cash (Preferred or Everyday).?

Thanks !

All Scores Recieved Within 1 week in OCT, 2011


Transunion FICO = 673
Transunion FAKO= 627 Got This From Equifax Complete Advantage Plan
Transunion FAKO= 714 Grade C .Got This From AnnualCreditReport.Transunion

Equifax FICO = 684
Equifax FAKO= 663 Got This From Equifax Complete Advantage Plan

Experian PLUS= 608 Got This From Experian's WebSite.
Experian FAKO= 711 Got This From Equifax Complete Advantage Plan

[Ms-Kato]

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@smc733 wrote:

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@SevenNEW wrote:

---

@Bluerain wrote:

---

@Anonymous wrote:

First off, Congrats on the USAA, and if your scores are in the low 700's, I'd check out Chase. The freedom is one of the most generous rewards cards out there

---

True they are one of the best for rewards but it only applies to certain things during the different times of the year.

As for me I don't intend on buying any of that stuff other than GAS and Grocery and it's only 6 months of the year with chase freedom.

I want cash back gas/grocery all year round ..I'm just trying

to build credit to get score up for best mortgage rate and don't want to get in debt .

No plans for vacation or any big ticket items for the next year

---

The solution is Amex Blue Cash (Preferred or Everyday). Your  scores are still a little low for that, but you can always garden for 6 months or so and see where you are at.

---

Or the BofA Cash Rewards 1-2-3 will also yield 3% on gas, 2% supermarkets, 1% everywhere else, and may be a bit easer to get.

---

Really? what type of score would I need for this BofA Cash Rewards card ?

---------------------------------------------------------------------------------------------------------
All Scores Recieved Within 1 week in OCT, 2011


Transunion FICO = 673
Transunion FAKO= 627 Got This From Equifax Complete Advantage Plan
Transunion FAKO= 714 Grade C .Got This From AnnualCreditReport.Transunion

Equifax FICO = 684
Equifax FAKO= 663 Got This From Equifax Complete Advantage Plan

Experian PLUS= 608 Got This From Experian's WebSite.
Experian FAKO= 711 Got This From Equifax Complete Advantage Plan

[Anonymous]

Considering you're active duty I'd say NFCU would be a good choice. Their rewards% isn't as good as some other places might give you (Discover or Amex with their 5/3% offers etc), but you might be able to get a pretty nice credit limit. The cashRewards card gives you 1% cash back for everything for the first $10k of purchases per year, then goes up to 1.5%. Not as good as 5% offers, but better than nothing.

[SevenNEW]

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@Bluerain wrote:

How high do my scores have to be for Amex Blue Cash (Preferred or Everyday).?

Thanks !

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people have had different experiences, depending on AAoA, income, number of Inq's, baddies in CR, but I would say you need to be in the 700's -- possibly not too far from 740. Many in this board have found expedient to apply for an Amex Zync with a high 600 score and were thus able to build a relationship with Amex.