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New Member
MuadDib
Posts: 9
Registered: ‎10-24-2012
0

Wanting a Rewards/Travel Card

Howdy guys, a little over a year ago I came here looking for advice on my Barclay Financing Card (Apple).   Everything worked out well and I paid off my rMBP over the 12 month no interest period as planned.  THANKS!!  My credit score has steadily risen and I'm starting to look into making my cards work for me.

 

I currently have 2 secured Credit Union card with $2000/$4000 limits.  Additionally I have the above mentioned Barclay Financing card with a $3500 limit (my first unsecured card in years.)  I haven't pulled all 3 credit scores lately so I need to do that, but Experian currently shows me @ 676 and Credit Karma @ 655.  Current utilization is under $50 with an average age of 1.92 years. 2 hard inquiries and 2 derrogatory marks (I haven't checked the status of them lately, but they are likely between 5-7 years old at this point.

 

I'm trying to determine the best rewards card I could get approved with my current (or near future) standing.  I travel several times a year, so a travel card might be best. (Barclay Arrival?)  I'm also wondering if waiting a few weeks might improve things as the average age of my credit lines jumps above the 2 year mark.

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Senior Contributor
myjourney
Posts: 26,659
Registered: ‎02-07-2013
0

Re: Wanting a Rewards/Travel Card

Revolver ....Charge?

 

What is most of your monthly spend on? gas,food, travel etc etc 

INQ's in the last year?

Other TL's?

What type of baddies CC?

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/13


Valued Contributor
efranklin23
Posts: 1,547
Registered: ‎11-14-2013
0

Re: Wanting a Rewards/Travel Card


MuadDib wrote:

Howdy guys, a little over a year ago I came here looking for advice on my Barclay Financing Card (Apple).   Everything worked out well and I paid off my rMBP over the 12 month no interest period as planned.  THANKS!!  My credit score has steadily risen and I'm starting to look into making my cards work for me.

 

I currently have 2 secured Credit Union card with $2000/$4000 limits.  Additionally I have the above mentioned Barclay Financing card with a $3500 limit (my first unsecured card in years.)  I haven't pulled all 3 credit scores lately so I need to do that, but Experian currently shows me @ 676 and Credit Karma @ 655.  Current utilization is under $50 with an average age of 1.92 years. 2 hard inquiries and 2 derrogatory marks (I haven't checked the status of them lately, but they are likely between 5-7 years old at this point.

 

I'm trying to determine the best rewards card I could get approved with my current (or near future) standing.  I travel several times a year, so a travel card might be best. (Barclay Arrival?)  I'm also wondering if waiting a few weeks might improve things as the average age of my credit lines jumps above the 2 year mark.


Info is not clear. And are these your FICO scores? It seems like you're posting FAKOs with FICOs which is confusing in your post. Also as previous post mentioned, we need more info to get an better idea.

$13.5K$7K6K$15K$5K1K
$5K

EQ-659 TU-676 EX-705 (as of 8-15-14)
New Member
MuadDib
Posts: 9
Registered: ‎10-24-2012
0

Re: Wanting a Rewards/Travel Card

Revolver...Charge??  Sorry, not understanding the question. But I have no loans (car or otherwise)

 

Most of my money goes to restaurants/food.  I moved to NYC in the last year so I rarely have gas expenses unless I travel.

1 INQ in Jan 2013 and one Aug 2013.  Both from my CU.  (And older one showing from Verizon in 3/12)
6 TLs w/ 3 closed?? Hope that answers your question
The baddies are an old HSBC card w/ last activity of 3/08 and a car loan w/ some 60 day lates.  Paid off 2/09.
There's also a collection line for $468 that I think is the collections on the HSBC dated back to 11/08

Frequent Contributor
Pat94108
Posts: 394
Registered: ‎03-23-2013
0

Re: Wanting a Rewards/Travel Card


MuadDib wrote:

Revolver...Charge??  Sorry, not understanding the question. But I have no loans (car or otherwise)

 

Most of my money goes to restaurants/food.  I moved to NYC in the last year so I rarely have gas expenses unless I travel.

1 INQ in Jan 2013 and one Aug 2013.  Both from my CU.  (And older one showing from Verizon in 3/12)
6 TLs w/ 3 closed?? Hope that answers your question
The baddies are an old HSBC card w/ last activity of 3/08 and a car loan w/ some 60 day lates.  Paid off 2/09.
There's also a collection line for $468 that I think is the collections on the HSBC dated back to 11/08


I am assuming they want to know if you want a revolving credit card (with a Credit limit) or a charge card (NPSL like Amex Gold etc.).  

New Member
MuadDib
Posts: 9
Registered: ‎10-24-2012
0

Re: Wanting a Rewards/Travel Card

[ Edited ]

efranklin23 wrote:

Info is not clear. And are these your FICO scores? It seems like you're posting FAKOs with FICOs which is confusing in your post. Also as previous post mentioned, we need more info to get an better idea.


Sorry if I wasn't clear, I should have said I haven't pulled a FICO score either.  As I said, that is my Experian score (from their FCR.com).  I was already using their service and didn't want to pay for another.  (Edit: FWIW, I'm cancelling that service now since they raised the price with no notice.)

I guess I'm looking for a revolving credit card, whichever makes the most sense for my current situation.  The biggest struggle I have right now is that sometimes when I travel for business, my low limits on my cards can make me take a card to it's limit quickly as well as cause my utilization to skyrocket.  But I usually just get my expenses turned in fast and pay it off ASAP.

Edit: Pulled 2 of my reports form AnnualCreditReport.com because I read you could pay to get the FICO score as well....cheaper than from MyFICO (I guess for EQ and TU only).  Somehow I screwed it up because I never saw an option to buy the scores.  Guess I'll be looking into paying $20 to pull my FICO scores.  Annoying, but I really hope to get a rewards card before I buy my ticket to Alaska soon (new information I got from work this evening).

Valued Contributor
red259
Posts: 2,170
Registered: ‎06-05-2013
0

Re: Wanting a Rewards/Travel Card

This is the type of info which is useful.

 

http://ficoforums.myfico.com/t5/Credit-Cards/Information-to-think-about-when-deciding-which-cards-to...

 


Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 730 6/27/14
Goal Score: 800 In garden until 1/2015
Member
MuadDibx
Posts: 12
Registered: ‎01-24-2014
0

Re: Wanting a Rewards/Travel Card

[ Edited ]

I think I've answered most of these, but I'll do my best.....I've focused on TU since Barclays seems to specifically pull TU

 

1. What cards if any do you currently have? 2 secured cards via CUs  1 Barclays Finance
- Do you have any student loans, mortgages, auto loans, other loans, showing on your credit reports?  2 Auto loans paid off in 2009

 

2. How long have you had each card?  6/2011, 2/2012,10/2012

 

3. What is the credit line for each card?  $4k, $2k, $3.5k

 

4. What is your Average Age of Accounts? 1.92 Years

 

5. What is you credit score for each credit reporting agency?  676 Exp (True/Fako)  676 TU Fico

 

6. What is your current overall credit utilization?  $21 (less than 1%)

 

7. Do you have any derogatory items on your credit report? (for example, late payments, bankruptcies, charge offs, etc) - Yes
-If late how late?

-When did this derogatory activity occur?
- if you burned a lender before which ones?

 

Car Payment

30 days late - 4 times (Oct 2009, Aug 2009, Jul 2009, Jun 2008)

 

HSBC CC 

30 days late - 1 time (Nov 2007)
60 days late - 1 time (Dec 2007)
90+ days late - 2 times (Feb 2008, Jan 2008)

(Eventually closed and written off)

 

Under Collections on TU

Xerox/City of Dallas Parking Jun 24, 2012

Enhanced Recovery/Sprint Sep 26, 2008

 

8. How many inquiries (if any) do you have on each credit report? (were the inqs for something other than credit cards [eg auto loan apps])  2 on Eq from CU (CC appliction)  0 on TU

 

9. What is your current income? (Income goes towards your credit limits and is one factor of many, lots of people have significant credit lines average annual income)
- Some cards have initial spend requirements to get the bonuses. You should consider whether or not you will be able to meet the required amount of spend. 

$120,000

 

10. Do you have any relationships with banks/credit unions (ie, bank accounts, having a chase personal banker, etc)? - no

 

11. What type of purchases will you be making with your credit card (eg, restaurants, gas, office supplies, phone bills, groceries, travel, etc)?  Restaurants, groceries, travel, cell phone bills

 

12. Will you be able to pay in full (PIF) your card every month or will you want/need to carry a balance and pay over time? - PIF
- If you can't PIF each month you will want to avoid most travel rewards cards due to the high APR and focus on low APR cards or cards with a 0% APR intro period

 

13. What do you hope to accomplish with your credit cards? (travel rewards, cash back, being able to transfer balances, the ability to make large purchases and pay over time) - Rewards/Travel points

 

14. If you are interested in a card that has an annual fee (many rewards card do) how much money on average will you put through the card over the course of a year?

- Its important for you to determine if you are going to spend enough on the card to justify the annual fee. If not, there are likely other cards without annual fees that would be a better fit and will save you money. $30-$40k

 

15. If you are interested in travel cards what airlines do you prefer? What hotels do you use? Do you have status with any airlines or hotel? Status with a particular rental car agency? - AA/Marriott but not married to either.  No status on either.

 

16. If you are interested in travel cards, how frequent is your travel? Every 2-3 months.

 

17. Do you shop at costco? - rarely

Valued Contributor
red259
Posts: 2,170
Registered: ‎06-05-2013
0

Re: Wanting a Rewards/Travel Card

I'm still thinking about your situation. You have some baddies there (some are which are fairly recent), which can create an issue for you. Based on your current profile I do not think you would qualify for a chase sapphire preferred. I do wonder if maybe amex would give you a chance with one of their charge cards (others would need to chime in about whether or not your credit history would be a red flag for amex, although I have baddies from 2009 and got in). I was thinking maybe the Amex PRG. Its a charge card so its a bit easier to get than their revolvers, it would get your foot in the door with amex and once you spend more than 30k in a year you get a bonus of 15000 more member reward points. If your buying airline tickets a couple times a year this card would be helpful as well. The intial spend requirement is 2k within 3 months and you would earn 25k member reward points. Earning rate is  3X points for flights booked with airlines, 2X points at US gas stations, 2X points at US supermarkets, and 1X points on other purchases. If amex is out then maybe look at the barclay world arrival card which is basically a cash back on travel card but you get 2 pts on every dollar spent and its a nice little card. Someone else would need to answer about how difficult approval for barclays is.


Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 730 6/27/14
Goal Score: 800 In garden until 1/2015
Member
MuadDibx
Posts: 12
Registered: ‎01-24-2014
0

Re: Wanting a Rewards/Travel Card

The City of Dallas collection is only $100.  I was actually unaware of it until yesterday.  Would it make a significant difference in my score to pay it off?


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