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Next card - Which one should I go for?

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lg8302ch
Senior Contributor

Re: Next card - Which one should I go for?

My votes go for Sallie Mae and Discover IT. But I do not know anything about your other cards you mentioned as I do not qualify.  If you plan to close your Target card and do not have their debit card it shoud also work for the 5% with Sallie Mae at Target and Walmart. Just beware of the 250$ limit. If you shop a lot at Target I would still keep the card for the 5% as the limits with Sallie Mae could not work out for you.

Message 21 of 30
Tonya-E
Established Contributor

Re: Next card - Which one should I go for?

I don't really shop there alot. I use the Target card mainly at Christmas time for toys/gifts for nieces and nephews.  That's why I am so open to closing it out.  My only hesitation is that it is my oldest open account....

Wallet: Amex BCP-45k| Barclays Rewards MC-26.3k| Citi Thank You Preferred-27.5k| Citi Double Cash-14k| Target MC-11.5k| Walmart MC-7.5k| Chase Freedom Unlimited Signature-6k


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Message 22 of 30
Anonymous
Not applicable

Re: Next card - Which one should I go for?


@Tonya-E wrote:

I was thinking of the Discover just to have a card of each issuer in my lineup. The Everyday card was my buffer for the BCP without the annual fee. I previously had the Delta Amex but I had gotten it simply because I was visiting my husband at his duty station quite regularly and Delta was the only airline to fly there. He's retired and back home now, so I didn't need that card anymore.  But the credit unions seem to offer better limits and lower APR which is appealing to me in the event I would ever need to carry a significant balance. I will just think on it and try to make the best decision on that.  I actually would have no problem closing 2 accounts and replacing it with one single card, if the limit was ok.


Great call with the credit union cards. It never hurts to have a no AF, high CL, low APR card in case of emergency. My CU also recently added 1% cash back on all purchases made with my credit or debit card (as long as debit card is also ran as credit). Might be worth shopping around at your local CUs Smiley Happy.

Message 23 of 30
lg8302ch
Senior Contributor

Re: Next card - Which one should I go for?


@Tonya-E wrote:

I don't really shop there alot. I use the Target card mainly at Christmas time for toys/gifts for nieces and nephews.  That's why I am so open to closing it out.  My only hesitation is that it is my oldest open account....


It will not affect your AAoA in the next 10 years as it remains on your report. It will only affect  your util and from the limit you have that should not be much of an issue looking at your other accounts. That would be no reason to keep it.

Message 24 of 30
Tonya-E
Established Contributor

Re: Next card - Which one should I go for?

 

 

 


@lg8302ch wrote:

@Tonya-E wrote:

I don't really shop there alot. I use the Target card mainly at Christmas time for toys/gifts for nieces and nephews.  That's why I am so open to closing it out.  My only hesitation is that it is my oldest open account....


It will not affect your AAoA in the next 10 years as it remains on your report. It will only affect  your util and from the limit you have that should not be much of an issue looking at your other accounts. That would be no reason to keep it.


TheAAOA thing had me second guessing. But if it won't affect me, no reason to worry about that. 


@Anonymous

Yes...the CUs are extremely appealing.  My local CU has a rate of:7.75 APR and no BT fee. But I am unsure of the types of limits they are handing out. On the other hand I have heard many good things about the limits for NFCU. 

 

 

Wallet: Amex BCP-45k| Barclays Rewards MC-26.3k| Citi Thank You Preferred-27.5k| Citi Double Cash-14k| Target MC-11.5k| Walmart MC-7.5k| Chase Freedom Unlimited Signature-6k


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Message 25 of 30
Anonymous
Not applicable

Re: Next card - Which one should I go for?


@Tonya-E wrote:

 

 

 


@lg8302ch wrote:

@Tonya-E wrote:

I don't really shop there alot. I use the Target card mainly at Christmas time for toys/gifts for nieces and nephews.  That's why I am so open to closing it out.  My only hesitation is that it is my oldest open account....


It will not affect your AAoA in the next 10 years as it remains on your report. It will only affect  your util and from the limit you have that should not be much of an issue looking at your other accounts. That would be no reason to keep it.


TheAAOA thing had me second guessing. But if it won't affect me, no reason to worry about that. 


@Anonymous

Yes...the CUs are extremely appealing.  My local CU has a rate of:7.75 APR and no BT fee. But I am unsure of the types of limits they are handing out. On the other hand I have heard many good things about the limits for NFCU. 

 

 


I can't speak for NFCU specifically, but my local CU gave me a limit over double what my highest card was at the time (10k SL with the CU, highest was 4k at the time). Also with no BT fee, but no intro 0% APR. Can't win 'em all Smiley LOL!

Message 26 of 30
bada_bing
Frequent Contributor

Re: Next card - Which one should I go for?

I'm not especially recommending a USAA card, but there are several things about

having a USAA card that aren't really out there for consideration when card shopping.

USAA values long term membership more than any other financial organization I'm

aware of.  Rebates on insurance premiums that rise as the account ages are one

example. On the credit card side, with time they will offer individual terms better than the

best terms they have posted. My USAA visa has a current limit of $25K , the APR is

6.00% with 6.00% also on cash advances with no fee. I've never requested any

CLI's or lowering of APRs over the 23 years the card has been open and I use it

almost never. I'd be extremely reluctant to let it go though. On insurance, on auto loans

and on credit cards, USAA has been 100% perfect in my 23 year experience.

 

But their cards aren't very competitive on rewards.

 

I'd put a +1 on the Sallie Mae recommendation.

+ 850 FICO8 since 2015, Thanks MyFICO - 5+ years since last HP
Message 27 of 30
Tonya-E
Established Contributor

Re: Next card - Which one should I go for?


@bada_bing wrote:

I'm not especially recommending a USAA card, but there are several things about

having a USAA card that aren't really out there for consideration when card shopping.

USAA values long term membership more than any other financial organization I'm

aware of.  Rebates on insurance premiums that rise as the account ages are one

example. On the credit card side, with time they will offer individual terms better than the

best terms they have posted. My USAA visa has a current limit of $25K , the APR is

6.00% with 6.00% also on cash advances with no fee. I've never requested any

CLI's or lowering of APRs over the 23 years the card has been open and I use it

almost never. I'd be extremely reluctant to let it go though. On insurance, on auto loans

and on credit cards, USAA has been 100% perfect in my 23 year experience.

 

But their cards aren't very competitive on rewards.

 

I'd put a +1 on the Sallie Mae recommendation.


6% is oustanding and so is your limit! When I log in I see the lowest rate around 6.9% if you qualify. I do have my auto insurance with them after switching from Geico. I saved nearly $500 a year!  I have been definitely looking into them for a card. I know they don't have the rewards, but that to me isn't the biggest selling point. 

Wallet: Amex BCP-45k| Barclays Rewards MC-26.3k| Citi Thank You Preferred-27.5k| Citi Double Cash-14k| Target MC-11.5k| Walmart MC-7.5k| Chase Freedom Unlimited Signature-6k


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Message 28 of 30
BarryNTexas
Established Contributor

Re: Next card - Which one should I go for?

When I saw this topic's subject title it triggered a thought.  Does anyone else remember the NextCard?

 

NextCard was one of the first credit card issuer to use the internet. It pioneered the use of instant credit approval. The company went public in 1999. Merrick Bank bought the NextCard credit card portfolio in 2002.

 

nextcard.jpg

 

Sorry just had to share that.  On a side note, I do have a USAA relationship and so far so good.

 

 

DC Prem 20K | DC Elite 20K | PenFed Visa 25K | NFCU Sig Visa 25K | NFCU Flagship 25K | AMEX Delta 25K & SPG 15K
RBFCU MC 20K | Barclay's RMC 11.5K & Ring 22K | Chase United 30K | Chase Hyatt 8K | Citi AA 15K | Citi DC 15K
Discover it® 27K | JCPenney MC 22K | Home Depot $9K
EX/796 EQ/794 TU/802 GOAL: Break 800
Message 29 of 30
Anonymous
Not applicable

Re: Next card - Which one should I go for?


@bada_bing wrote:

I'm not especially recommending a USAA card, but there are several things about

having a USAA card that aren't really out there for consideration when card shopping.

USAA values long term membership more than any other financial organization I'm

aware of.  Rebates on insurance premiums that rise as the account ages are one

example. On the credit card side, with time they will offer individual terms better than the

best terms they have posted. My USAA visa has a current limit of $25K , the APR is

6.00% with 6.00% also on cash advances with no fee. I've never requested any

CLI's or lowering of APRs over the 23 years the card has been open and I use it

almost never. I'd be extremely reluctant to let it go though. On insurance, on auto loans

and on credit cards, USAA has been 100% perfect in my 23 year experience.

 

But their cards aren't very competitive on rewards.

 

I'd put a +1 on the Sallie Mae recommendation.


Wow! I may have to adjust my future apping plans.

Message 30 of 30
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