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Which rewards ViSA or MasterCard?

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UncleB
Credit Mentor

Re: Which rewards ViSA or MasterCard?


@Ron1 wrote:
Citi Double Cash MC is also good cash back card.

Ron.

+1

 

Another excellent suggestion! 

 

For somebody with a lower score I would avoid the DC since Citi can be 'stingy' at times (especially with a borderline score) but I believe with the OP's score he would be fine.  Smiley Wink

Message 11 of 17
Anonymous
Not applicable

Re: Which rewards ViSA or MasterCard?

Thanks! You guys are awesome!

 

I'm leaning toward the Venture, based on your collective advice. The $400 bonus would pay for the next 3+ years of AF after the first waived one. So those two things (bonus and AF) either offset or possibly even lean in the Venture's favor. And if the Venture is otherwise the better card (or at the very least, the equal), then I think the Venture makes sense.

 

I checked out my pre-qualifieds, it came up with the Quicksilver as a recommendation, and listed the Venture under "We also suggest:" I take that as the Venture is pre-qualified, too, I think.

 

Income is $77k/year. As I said above, my most recent FICO 8 was 798. I suspect it might have dipped a little for a couple of reasons (mainly, small balances closing on all five cards this month), but nothing serious or permanent. If I'm borderline on the Venture, though, I think I might wait a month (primarily so I can pay all the cards but one down to 0 before the statements close).

 

I have a question on the Citi Double Cash that Ron suggested, though. If the Venture is the "crown jewel" (as UncleB called it) of the Capital One lineup, how does the Double Cash rank for Citi? And if it generally comes with lower credit limits, I assume that means it's less likely to be a Signature (or is Signature even an option with it)?

Message 12 of 17
UncleB
Credit Mentor

Re: Which rewards ViSA or MasterCard?


@Anonymous wrote:

Thanks! You guys are awesome!

 

I'm leaning toward the Venture, based on your collective advice. The $400 bonus would pay for the next 3+ years of AF after the first waived one. So those two things (bonus and AF) either offset or possibly even lean in the Venture's favor. And if the Venture is otherwise the better card (or at the very least, the equal), then I think the Venture makes sense.

 

I checked out my pre-qualifieds, it came up with the Quicksilver as a recommendation, and listed the Venture under "We also suggest:" I take that as the Venture is pre-qualified, too, I think.

 

Income is $77k/year. As I said above, my most recent FICO 8 was 798. I suspect it might have dipped a little for a couple of reasons (mainly, small balances closing on all five cards this month), but nothing serious or permanent. If I'm borderline on the Venture, though, I think I might wait a month (primarily so I can pay all the cards but one down to 0 before the statements close).

 

I have a question on the Citi Double Cash that Ron suggested, though. If the Venture is the "crown jewel" (as UncleB called it) of the Capital One lineup, how does the Double Cash rank for Citi? And if it generally comes with lower credit limits, I assume that means it's less likely to be a Signature (or is Signature even an option with it)?


The recommendations will 'flip' depending on what you select on the first screen... if you tell them you're interested in cash rewards, they'll highlight/first show the Quicksilver (if you're eligible).  If you click the radio button for travel, they'll list the Venture first.  If you want, you can do the prequal again and select 'travel', and I'm fairly sure you'll see Venture become the top recommendation.

 

If it showed you the Venture you should be good-to-go, especially if you were offered an APR of 18.24 or lower (I wouldn't be surprised if you were offered the 13.24% rate with your score).  Since Venture has a 'mandatory' $5k credit line, it can be tougher to get if someone is marginal, but that isn't you - you should be fine for whichever card you want.

 

Double Cash is a great product, and some folks have reported getting nice credit lines with them, but they are more conservative than Capital One (again, for you not a huge consideration).  I suspect you could easily get the DC, but there's usually no sign up bonus, and you'll most likely get a smaller credit line than Venture.  Also, CLI requests with Citi are said to be HP many times, while with Capital One a CLI request is always a SP.  Also, the rewards redemption for Citi isn't as flexible... I'll leave it for a DC person to detail, but if I'm not mistaken rewards can only be redeemed after you accumulate $25.  With all Capital One products, you can redeem literally any amount, no matter how small.

 

I feel as if I'm risking coming across as a 'cheerleader' for the Venture, which isn't my intention, but it does have it's positive attributes.  Smiley Wink

 

Regarding your question on Citi's 'crown jewel', it's not quite so cut-and-dry.  The DC gets attention for the flat 2% for everything, but they have other cards - some with significant AFs - that are designed to compete with the Amex Platinum and similar cards.  Those cards tend to be better for folks who like to redeem for travel (not cash) but again, I'll defer to the folks with Citi experience under their belt to expand on that.

Message 13 of 17
Anonymous
Not applicable

Re: Which rewards ViSA or MasterCard?

Hey, check out my signature, updated just a few minutes ago!

 

Thanks, UncleB!

 

Thanks, SouthJamacia, Irish, and Ron!

 

I really appreciate the help. I feel really good about this card. I think it's the right choice to round out my collection. $10k limit, by the way.

Message 14 of 17
UncleB
Credit Mentor

Re: Which rewards ViSA or MasterCard?


@Anonymous wrote:

Hey, check out my signature, updated just a few minutes ago!

 

Thanks, UncleB!

 

Thanks, SouthJamacia, Irish, and Ron!

 

I really appreciate the help. I feel really good about this card. I think it's the right choice to round out my collection. $10k limit, by the way.


Huge congrats, and you're very welcome!

 

Here's one final 'hint'... when I got my QS Signature last year, I put $1k-$1.5k on it each month for the first three months, and PIF each time.  After my third statement was sent, I gave the CLI button a try, and they gave me a $2k CLI.  It's not guaranteed (YMMV), but many folks are able to get the first CLI at a similar point if they have relatively heavy usage. 

 

After your first CLI, mark your calendar and try again in six months (and every six months after that)... the last year or so I've been getting $1k increases on each of my Capital One cards every six months, even with extremely light usage (again, YMMV).  Each time you try it's only a SP (if you get a CLI or not), so there's no harm in trying! 

 

(Sidenote:  don't forget to make your spend requirement for the bonus!)

 

Again, Congrats!  Smiley Very Happy

Message 15 of 17
Anonymous
Not applicable

Re: Which rewards ViSA or MasterCard?

Thanks again. The spend requirement is $3k in the first three months, so it will have to assume the front position in my wallet.

 

In your case, UncleB, was the CLI automatic after three months or did you request it?

Message 16 of 17
UncleB
Credit Mentor

Re: Which rewards ViSA or MasterCard?


@Anonymous wrote:

Thanks again. The spend requirement is $3k in the first three months, so it will have to assume the front position in my wallet.

 

In your case, UncleB, was the CLI automatic after three months or did you request it?


I had to request it.  In my own experience, the only time I've ever received an auto-CLI with Capital One was when I was 'bumping up' against the credit limit month after month (a few years back).  Once I got "real" credit limits on my cards, the auto-CLIs stopped. 

 

I also have to add that I'm no longer 'passive' - I now actively seek a CLI as soon as I'm eligible - so there's a chance if I simply waited a while they might (?) send one my way, but I'm not willing to chance it... LOL  Smiley Very Happy

 

In the process of meeting your spend requirement, you'll be putting quite a bit of usage on the card by default, so expecting a quick CLI (after third statement) isn't unreasonable.  (Of course I have to add the disclaimer 'YMMV', but it's not uncommon...)

Message 17 of 17
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