Looking for a second card

Noctilum · ‎05-13-2011

So I got a phone call from Chase yesterday. Basically, someone was in Mexico using my card to buy flights and hotels in China. So they reversed the charges and closed the account, but now I must wait 5 business days for a new card to arrive in the mail.

Now that I am credit card-less for a week, I think it's time to look for a second one in case this happens again. I'm not sure if I should go for another Visa/Master card, or bite the bullet and try for Amex or Discover. Is there any benefit to my credit score or profile having an Amex or Discover over Visa/Mastercard?

I just want something that has no annual fee. I don't care about rewards, APR or credit limit.

Anonymous · ‎05-13-2011

No benefit... they wil score the major visa/mastercard same as discover/amex...

What do you want? rewards? credit line? tell us

Sorry about what happened to you.

Noctilum · ‎05-13-2011

@Anonymous wrote:
No benefit... they wil score the major visa/mastercard same as discover/amex...

What do you want? rewards? credit line? tell us

Sorry about what happened to you.

Just want a backup card for emergencies. I'll use it to keep it active, but like I said, no annual fee is all I am looking for. I don't care about anything else.

Anonymous · ‎05-13-2011

I would go for a high credit limit no annual fee card to help keep your utilization very low. try a credit union known for high limits. good luck.

Noctilum · ‎05-18-2011

One last question, does having a charge card affect your FICO in any way or would it just be listed as a credit card?

trumpet-205 · ‎05-18-2011

@Corvidae wrote:
One last question, does having a charge card affect your FICO in any way or would it just be listed as a credit card?

Charge card is listed differently. Older FICO score model includes charge card's balance as part of the utilization calculation, thereby showing higher utilization. Newer FICO score models does not. As for which model that is up lenders to decide.

MAstudent07 · ‎05-18-2011

Hello. It seems to me that your criteria is straight forward. A card to have as a back up and does not have an annual fee. Based on your scores, there is an array of choices available. One suggestion is to take the time and research on products available on the market. Knowing what direction to take is an important step in making a decision. Think about some of the banks you are familiar with and read up on their products. This board will certainly allow you to dissect experiences and guide you in the decision process.

In regards to charge cards, if you are referring to Amex, all of them come with an annual fee. Ranging from $25.00 to $450.00. They don't meet your criteria. Best of luck!