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Valued Member
Vwaller72
Posts: 43
Registered: ‎08-01-2012
0

What card should I go for?

So, the good news is with the help of these forums over the last 8 months I will be closing on my first home on Thursday!

 

I plan to add one card to my wallet to continue rebuilding and I'm wondering what is my best option. My current scores are in my sig. EX is lender pull from Feb 6 and TU and EQ are pulled from here today. My most recent late was 2.8 years ago. I currently have 2 car loans, one 2.5 years old with no lates and 2 Cap 1 cards. One I have had since July 2012 and one since October 2012. Both have limits of $500 and I PIF every month but keep $80 so my util is at 8% (I have heard that is the sweet spot for util).

 

I do have some charge offs from 2008 (3 all for small amounts) and 2 released tax liens showing on my report.

 

Income is at $128,000 and total DTI right now is 6%, will be 30% once my mortgage reports.

 

Inquiries are high but they are mostly from rate shopping for a car loan in October and multiple pulls from the lender for my mortgage. Funny thing is when I run my FICO from here vs. the FAKO from TU and EQ the FICO pull here shows very few inquiries, much lower than the pull from the actual TU and EQ sites.

 

I'd like to get a card with at least a $2,000 limit. Rewards would be good but are secondary to building credit. Would love Southwest Visa but I suspect I'd be jumping the gun going for Chase right now. Discover IT also looks appealing but thinking that may be over my head right now as well. I'm consider the Barclay NFL Visa (Saints version). Ultimately I just want the best "next" card in my rebuilding efforts. 

 

Any advice will be greatly appreciated!

Current scores EX: 678 (lender pull), MyFICO TU: 696 & EQ: 664
Contributor
Bobert22
Posts: 236
Registered: ‎01-20-2013
0

Re: What card should I go for?

I would try the Chase Freedom. Even if you do get declined, Chase is usually very generous with recons.

Good luck and be sure to let us know how it pans out!
Capital One 2006--$5,000 ||| AMEX Macy's 2008--$2,300 ||| Kohl's 2009-- $1,000 ||| JCP 2010-- $1,000 ||| Walmart Discover 2010-- $5,000 ||| Sears 2011 -- $3,600 ||| Sears 2011 -- $3,500 ||| Chase Freedom 2012--$7,500 ||| Discover IT 2013 -- $4,000
||| Chase Sapphire Preferred 2013 -- $10,000

SCORES: EQ FICO: 787, EX FAKO: 801, TU FICO: 790 (Lender Pull)
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
0

Re: What card should I go for?

Congrats on closing Thursday! Whatever you decide, be sure to apply before your new mortgage starts reporting. I love the Chase Freedom that I was approved for after recon.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Valued Member
Vwaller72
Posts: 43
Registered: ‎08-01-2012
0

Re: What card should I go for?

Wow, Chase Freedom? I though Chase was a hard nut to crack. I figured I was easily another year away from going after Chase. I've always recieved great advice from here however so if you all say that's the way to go I'll go for it!

 

After reading one of the USAA threads I was wondering if I shouldn't try them. I'm a veteran so I think I can become a full member although I'm not sure exactly how to do it.

Current scores EX: 678 (lender pull), MyFICO TU: 696 & EQ: 664
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
0

Re: What card should I go for?

I think you have a good chance for the Freedom and if denied, recon. If you get the 7-10 day or 30 day message, call the back door number and they will let you know what is pending.

You also have a great chance for a great limit through USAA or NFCU. I think you just apply for an account online after you join, which is probably on their website too.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Established Member
Tanyasf
Posts: 105
Registered: ‎02-25-2013
0

Re: What card should I go for?

you should forget credit card / apply debit card and used debit card 

I'm not an American and i will never be
Valued Member
Vwaller72
Posts: 43
Registered: ‎08-01-2012
0

Re: What card should I go for?

Thanks MF. I don't think I can go NFCU since I'm a veteran not active duty but I do think I can go USAA. I'm wondering if I don't have a chance for a better CL with USAA than Chase.

Current scores EX: 678 (lender pull), MyFICO TU: 696 & EQ: 664
Contributor
ElCamino
Posts: 208
Registered: ‎03-20-2013
0

Re: What card should I go for?

Could you hold out until July before apping?

 

That way your Cap1 cc is reporting a whole year old when you get pulled.

 

Are you a member of any CUs? You could always try a CU cc as well.



Amex BCE: $16.5k, Discover It: $5k, Chase Freedom Visa: $10k, Fidelity Amex: $7.5k, PenFed Cash Rewards Visa: $3.5k, CapOne Union Plus MC: $4.5k, Barclays Upromise MC: $5k, BoA Cash Rewards 123 MC: $1.5k
Valued Contributor
MovingForward_2012
Posts: 3,406
Registered: ‎12-19-2012
0

Re: What card should I go for?

Most folks rarely use a debit card around here. Lol

OP, I think you have a better chance for a higher limit with USAA than Chase but Chase will grow with time.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! :smileyhappy: Last App: 4/5/13 Gardening until July 2014
Established Member
Tanyasf
Posts: 105
Registered: ‎02-25-2013
0

Re: What card should I go for?

Are you serious ???/what does USAA pull ? Them are ususally give hight credit ????? Thanks 

I'm not an American and i will never be

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