What is the ideal next (if any) credit card for my situation?

[Anonymous]

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@Anonymous wrote:

... but with my current scores, I feel like I should get pretty good mortgage rates, no?

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Not enough data to tell.  I just learned last week that mortgage scores can run 100-150 points lower than FICO 08 scores.  I'm not saying yours are that much lower, but if they were and you were at 600-650 or so then you wouldn't be in an ideal place mortgage rate wise.

[HeavenOhio]

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@Anonymous wrote:
Not enough data to tell.  I just learned last week that mortgage scores can run 100-150 points lower than FICO 08 scores.  I'm not saying yours are that much lower, but if they were and you were at 600-650 or so then you wouldn't be in an ideal place mortgage rate wise.

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My mortgage scores are a bit higher than my FICO 8s. I don't think it's something you can really predict.

[Anonymous]

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@ChargedUp wrote:

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@notmichaelou wrote:

Scores seem solid. I'd say figure which rewards program you're interested in and you shouldn't have too hard of an income / score problem. Chase might give you some trouble for the young credit age but I'd say AMEX, Citi, BoA probably would probably pop off the top of my head.

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Chase has a link on their site to "Pre-Qualify" by using some basic info for them to do a SP. From what I understand, if it gives you offers with a solid APR number, you're golden. Other than that, I agree on Amex BCE, Citi, and BofA. These are all solid banking partners that you can grow with.

Also, check around your local credit unions and see what they have to offer. If you plan on carrying a balance at all, they will usually give the best APR rates.

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Hmm, on the Chase site, I don't get any results for pre-qualified offers....I tried the pre-qualify utility on AMEX and got the Green and the Everyday card. Do you think applying for the BCE would likely result in a denial? I'm assuming that Chase doesn't like my short credit history.

[Anonymous]

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@wilmer007 wrote:

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@Anonymous wrote:

I suppose I'd like the new card so that I can use more credit while keeping my utilaztion relatively low. I am planning to start looking at houses once my GF graduates college next month and finds work (depending how long that takes), but with my current scores, I feel like I should get pretty good mortgage rates, no?

So I suppose I'd like to get a card for rewards purposes, do you think I have a good chance of being approved for an AMEX Blue Cash Everyday card, even given that my credit history is relatively short? I have outstanding student and car loans, which I am paying each month and making the occasional extra payment on every few months.

Thanks for the insight!

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if your planning to buy a home in the near future then you want to focus more on credit cards that are good with CLI such as AMEX, Capital One, etc... you also want to focus less on travel rewards because your focusing more on CLI. if you can get an AMEX reward card then that's great but you'll still have to settle for a plain AMEX with no rewards if you get turned down. also if you can't PIF each month then there's no point in having reward cards and since your planning on getting a home soon then my guess is the house will be taking up alot of your finances that you may not be able to PIF each month to take advantage of the rewards. if you can then that's great but not everyone can spend $1,000+each month on CC then PIF and on top of that pay a home every month.

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Good points, although I'm certainly not going to be making mortgage payments until my girlfriend is working and making an income, and based on the area I live in, I don't think my mortgage payment will be out of a range where I should be able to PIF a healthy amount each month. This is, of course, just what my goal is, I'm well aware that it could change. I find myself with the capability now to definitely utilize more credit than what I use now (because I don't want my utilization to be too high), hence why I was thinking of having a higher limit overall being useful.

Thanks for the input, definitely a lot to consider!

[Anonymous]

An American Express Blue Cash Everyday card would possibly be a good complement to your existing credit.  I just got a BCE myself (Experian FICO just over 800 & $31k reported income), and they matched my highest existing credit limit, so it seems like it would be good for a card that would improve your utilization percentage.

However, it's also a good idea to check if that card would give you the best cash back return. Nerdwallet has an excellent calculator that will show you which card will give you the most cash back for your specific spending pattern.