What would you want in your credit card resume

[Anonymous]

I would like to know which credit card companys do you guys prefer to have in your credit card portfolio ?

I know that all credit card companies are not created equil and I am interested in your opinions on this topic.

Which companies look the best to potential creditors ?

A Loan officer at Wells Fargo recently told me that (Wells Fargo) credit cards are like eating at an expensive resturant,

and that Capital One credit cards were like eating at Mcdonalds !

What companies would you put at the top of your list to have in your wallet if you were putting together a resume !

[Anonymous]

There is a lot of Truth in what he was saying, but not accurate. None of Wells Fargo products are superior to anything. At the same time Wells Fargo customers tend to be older, own property own businesses… they're solid and stable customers.

A loan officer who can swing weight around is going to like you if you have some of the same accounts he does. That is not totally objective is it? It's life though. So far a fake profile for fake life I don't have I have to make it look like I have more going on than just credit limit of my credit card accounts.

Chase trifecta
Charles Schwab, whatever product you can't get with only $1500
Amex plat/EDP combo
Penfed/navyfed top teir cards along with fat ploc's
Penfed/navyfed mortgages only 30% left for each of my 3 kids.

I only have one daughter.

[Loquat]

On a manual review it  may make a slight difference to an underwriter...but with most things being automated these days, I don't think an algorithm really cares who the lender is so much as if you're meeting your obligations and not over extending yourself with high utilization of available credit.

[MrDisco99]

That loan officer sounds like a real tool.

As long as the utilization and payment history are good, the brand shouldn't matter.  Get the products that give YOU the most benefit.

[sarge12]

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@Anonymous wrote:

I would like to know which credit card companys do you guys prefer to have in your credit card portfolio ?

I know that all credit card companies are not created equil and I am interested in your opinions on this topic.

Which companies look the best to potential creditors ?

A Loan officer at Wells Fargo recently told me that (Wells Fargo) credit cards are like eating at an expensive resturant,

and that Capital One credit cards were like eating at Mcdonalds !

What companies would you put at the top of your list to have in your wallet if you were putting together a resume !

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I do not believe that they diferentiate between premium cards. You should base it on what the benefits are of each card and apply for those that are the most beneficial. There probably are a few cards that are known as sub-prime, as well as a few noticed as being super prime, but except for these few they are likely equal.

[AverageJoesCredit]

Glad the loan officer isnt in our garden, those tools are not allowed, lol

Ill take McDonalds please

[Anonymous]

I like:

Chase

BofA

AMEX

Discover

Navy

PenFed

[Anonymous]

It would be a rare loan officer who sau something like "Our offerings are very mediocre. You can do much better."

So basically ignore that input!

As others have said, focus on the card(s) that give you some value rather than worry about the issuer. No issuer has only good cards, some have only poor cards, but most have a mix, and good/bad can vary with your needs

[driftless]

I doubt that brand makes a difference with automated cc applications but I am not so sure that is the case when bankers make manual reviews.  I know that my banker and I had very frank conversations about different cc's and she has opinions.  Even so, cc brand preference probably makes no difference in an underwriting setting.  I agree with those who posted pick the cards that serve you best.  

[happypill]

I do agree that some cards have cachet, but I disagree that Wells Fargo is among them.  If Capital One cards are McDonald's, then Wells Fargo's are at best Chipotle; they are certainly not French Laundry.

Each person will have a different definition, but the cards I prize most are those that give rewards that are unequaled by other competitors.  As far as I know, Wells Fargo doesn't offer anything special, and in fact most of their cards are not competitive at all, to say nothing of market leading.

Wells Fargo is also known for horrible customer service and onerous policies that crush their holders' wills to live (ok, that last part might be an exaggeration).  The best card issuers treat their customers right, Wells Fargo treats their customers like the bottom of a baby's diaper.