topic Re: Help Me w/ My 1st UnSecured Card PLEASE in Credit Cards

Help Me w/ My 1st UnSecured Card PLEASE

FiveOhFour — Sat, 25 Apr 2015 23:34:43 GMT

Hi Folks. Ok So at the beginning of 2014 I discovered that there was such a thing as a Secured Card that i could get to start building a credit history, that was the only option to me as i had a few Medical Collections on my Credit history since the day i turned 18 so i was never able to establish credit at all, since then I've contribued Positive Payment Data on my 2 Secured cards every month and no longer have any Collections on my Reports with any CRA. I had been an Authorized User on a Sears Card but it had 2 missed payments a few years back, or one missed payment for 60 days, so i terminated my authorized user status and the 2 secure Cards are my only credit cards. Capitol One automatically raised the Limit without an additional deposit from 200 to $500 a while back, and as my Credit score has Shot up I've gotten all types of continually better Credit Card Offers. My FICO Scores are EQ: 777 TU: 781 EX: 734 .

Please help me as far as applying for Credit Cards. Which Ones Should i apply for and how many? I currently am applying mostly to just build my credit further, i currently only ever charge what i can pay off and never go above 30% on any card i have. My income is currently only about $35,000 a year, but i live with family and have essentially no expenses at all, no major ones at least. My goal is to build my credit and have nice cards with high limits for myself in the future when i may need to use them. Anyway, I've got a QuikSilver that I am "Pre-Approved" for, and some others that i am PreQualified for, i Show A Chase Freedom and Chase Slate Card and maybe more that show up on Chase's PreQualified Site, i have received A couple Citi Card Mailers but they appear to be only Invitations to apply, a Discover.IT one, and a Bank Of America Card offer.

What should i do, Which do i apply for, which are the "best" etc etc. i need advice. I am not too worried about the rewards and all of that simply because I will be spending so little on each card, at least until my limits are significantly higher, that the rewards matter little to me, but would still like the best cards i can get obviously, do i apply for the best or go for sure bets or whats my strategy here.

UPDATE: Actually I am getting ahead of myself, i do have one single collection left on Experian and Equifax, its a medical collection for $35 that is set to fall off in May, though i was considering paying it, but that may affect your input for me, sorry for misspeaking. Zero collections on Transunion.

Re: Help Me w/ My 1st UnSecured Card PLEASE

Anonymous — Sat, 25 Apr 2015 23:31:44 GMT

@FiveOhFour wrote:
Hi Folks. Ok So at the beginning of 2014 I discovered that there was such a thing as a Secured Card that i could get to start building a credit history, that was the only option to me as i had a few Medical Collections on my Credit history since the day i turned 18 so i was never able to establish credit at all, since then I've contribued Positive Payment Data on my 2 Secured cards every month and no longer have any Collections on my Reports with any CRA. I had been an Authorized User on a Sears Card but it had 2 missed payments a few years back, or one missed payment for 60 days, so i terminated my authorized user status and the 2 secure Cards are my only credit cards. Capitol One automatically raised the Limit without an additional deposit from 200 to $500 a while back, and as my Credit score has Shot up I've gotten all types of continually better Credit Card Offers. My FICO Scores are EQ: 777 TU: 781 EX: 734 .

Please help me as far as applying for Credit Cards. Which Ones Should i apply for and how many? I currently am applying mostly to just build my credit further, i currently only ever charge what i can pay off and never go above 30% on any card i have. My income is currently only about $35,000 a year, but i live with family and have essentially no expenses at all, no major ones at least. My goal is to build my credit and have nice cards with high limits for myself in the future when i may need to use them. Anyway, I've got a QuikSilver that I am "Pre-Approved" for, and some others that i am PreQualified for, i Show A Chase Freedom and Chase Slate Card and maybe more that show up on Chase's PreQualified Site, i have received A couple Citi Card Mailers but they appear to be only Invitations to apply, a Discover.IT one, and a Bank Of America Card offer.

What should i do, Which do i apply for, which are the "best" etc etc. i need advice. I am not too worried about the rewards and all of that simply because I will be spending so little on each card, at least until my limits are significantly higher, that the rewards matter little to me, but would still like the best cards i can get obviously, do i apply for the best or go for sure bets or whats my strategy here.

If Kure not looking for anything like a travel rewards card, I'd suggest that you stick with a cash back card. That would be the Quicksilver which gives you a straight 1.5% cash back. The Chase Freedom also is a good choice as it gives you cash back or points based on quarterly rotating categories. Either one would a good card for you to start out with.

Re: Help Me w/ My 1st UnSecured Card PLEASE

Anonymous — Sat, 25 Apr 2015 23:32:06 GMT

With your scores you can have whatever you want! I would start with Discover, chase and capital one! I wish i had your scores! Have fun choosing!

Re: Help Me w/ My 1st UnSecured Card PLEASE

FiveOhFour — Sat, 25 Apr 2015 23:37:21 GMT

@Anonymous wrote:
With your scores you can have whatever you want! I would start with Discover, chase and capital one! I wish i had your scores! Have fun choosing!

Thanks for your input, i just updated the OP i misspoke, i do actually have a single medical collection for a $35 copay with Exprian and Equifax that falls off in May of this year, so any day now hopefully. Obviously my scores are still great but with the limited history i have regardless of score does that change your advice at all? Also, do i reply for a few in a short period of time or whats the best practice in that regard?

Re: Help Me w/ My 1st UnSecured Card PLEASE

Anonymous — Sat, 25 Apr 2015 23:40:29 GMT

@Anonymous wrote:
With your scores you can have whatever you want!

LoL, true.

Re: Help Me w/ My 1st UnSecured Card PLEASE

FiveOhFour — Sat, 25 Apr 2015 23:49:11 GMT

Thank you, It looks like I am Pre-Approved for the Quiksilver. As far as Chase goes Freedom or Slate? I dont really see the difference besides a 1% lower rate and the latest slate offer i got says it comes with a free FICO Score.

Re: Help Me w/ My 1st UnSecured Card PLEASE

FiveOhFour — Sat, 25 Apr 2015 23:43:16 GMT

@Anonymous wrote:
@Anonymous wrote:
With your scores you can have whatever you want!
LoL, true.

I never got into Pokemon as a kid, but eventually Credit Cards will be my Pokemon...Gotta Catch em All...the good ones at least, dont even need to use them just collect them

Re: Help Me w/ My 1st UnSecured Card PLEASE

Anonymous — Sat, 25 Apr 2015 23:43:19 GMT

@FiveOhFour wrote:

If You're not looking for anything like a travel rewards card, I'd suggest that you stick with a cash back card. That would be the Quicksilver which gives you a straight 1.5% cash back. The Chase Freedom also is a good choice as it gives you cash back or points based on quarterly rotating categories. Either one would a good card for you to start out with.
Thank you, It looks like I am Pre-Approved for the Quiksilver. As far as Chase goes Freedom or Slate? I dont really see the difference besides a 1% lower rate and the latest slate offer i got says it comes with a free FICO Score.

If you go with Chase, definitely go for the Freedom. The Slate is designed as a balance transfer card and has no other use. Freedom is by far one of the best all around type cards.

Re: Help Me w/ My 1st UnSecured Card PLEASE

Anonymous — Sat, 25 Apr 2015 23:43:43 GMT

Go over all the rewards on the cards you like. Remember Cap One likes a lot of usage. Then decide what you would use the most. Have fun!

Re: Help Me w/ My 1st UnSecured Card PLEASE

Anonymous — Sat, 25 Apr 2015 23:52:55 GMT

@FiveOhFour wrote:
@Anonymous wrote:
With your scores you can have whatever you want! I would start with Discover, chase and capital one! I wish i had your scores! Have fun choosing!
Thanks for your input, i just updated the OP i misspoke, i do actually have a single medical collection for a $35 copay with Exprian and Equifax that falls off in May of this year, so any day now hopefully. Obviously my scores are still great but with the limited history i have regardless of score does that change your advice at all? Also, do i reply for a few in a short period of time or whats the best practice in that regard?

If it falls off in May, wait for it to fall off? That's less than a month. Pay your balances down below 10% by then.

Then my other advice is to app in a spree. Get a bunch at a time so one hand doesn't know what the other is doing right away.

You have 2 approaches ... quality or quantity.

If you opt for Quality, Barclay/Citi/USBank...maybe 3-4 cards before they get nervous. These guys get spooked by new accounts/inquiries

Or quantity ... go for the less easily spooked lenders like AMEX, Discover, CapitalOne, Synchrony, NFCU, Chase, Commenity. These guys are more forgiving and care more about high debt rather than new inquiries. You could probably get 6-10 cards without facing AA.

My credit build with 720+ scores would be :

AMEX x2 (1 charge, 1 revolver)

Chase x2 cards (Freedom + whatever)

CapitalOne Venture (high limit) + Quicksilver (1.5% Cashback)

Walmart (for the free FICO and easy CLI)

NFCU for sure if you're military related

Commenity Shopping Cart soft pull with high limits like Sportsman's Guide, Overstock, Serta

Maybe a Lowe's for the future

You'll most likely have to garden for a year after this but you would have added like $25-50K+ credit in 1 spree.

Once you've amassed credit, you can go after the finicky lenders a couple at a time. That way you get early volume and take the AAoA hit and be done with it.

Re: Help Me w/ My 1st UnSecured Card PLEASE

Anonymous — Sun, 26 Apr 2015 01:50:34 GMT

Apply for Amex blue cash and quicksilver. Then garden.

Re: Help Me w/ My 1st UnSecured Card PLEASE

FiveOhFour — Fri, 08 May 2015 06:21:06 GMT

Thans for all the input, the last collection has been removed and the Authorized User account that had a late payment was removed, oddly enough that being r emoved knocked my TU score down to 750, but anyway, should i apply for the Quicksilver One Pre-Approved offer from capital one, or look to get better cards? Thats just the only pre-approved offer i have, so wondering if i should get it since its a sure thing or aim higher. It says something about giving a higher limit after 6 months of timely payments.

Re: Help Me w/ My 1st UnSecured Card PLEASE

wmweeza — Fri, 08 May 2015 07:01:54 GMT

I personally don't have any Chase cards, but everyone here says the pre-qualifier on their site is spot on.

I like BofA so far in my journey.

Edit to add:

I heartily agree with getting an Amex Blue Cash (BCE ) card, it has been a GREAT card to have! I just got mine in October and I LOVE it, tons of offers and savings, plus I'm partial to the color blue. Also purchase protection is great too, and I do love they gave me a huge starting limit but even if you get just $1000 limit, the card grows FAST

Re: Help Me w/ My 1st UnSecured Card PLEASE

FiveOhFour — Sat, 09 May 2015 20:29:19 GMT

Thanks again. Question is should i apply for the Quicksilver card that i am pre-approved for as well since i assume that is still a Hard Pull? Also, If you apply for a Capitol one card for instance, does it check to see all Capitol One Cards you qualify for or only the specific one you are applying for? Will it tell you if you can get a card thats better than what you applied for? Will it tell you if you cant get the one you applied for which ones you can get ?

Re: Help Me w/ My 1st UnSecured Card PLEASE

FiveOhFour — Sat, 09 May 2015 20:35:29 GMT

@Anonymous wrote:
@FiveOhFour wrote:
Hi Folks. Ok So at the beginning of 2014 I discovered that there was such a thing as a Secured Card that i could get to start building a credit history, that was the only option to me as i had a few Medical Collections on my Credit history since the day i turned 18 so i was never able to establish credit at all, since then I've contribued Positive Payment Data on my 2 Secured cards every month and no longer have any Collections on my Reports with any CRA. I had been an Authorized User on a Sears Card but it had 2 missed payments a few years back, or one missed payment for 60 days, so i terminated my authorized user status and the 2 secure Cards are my only credit cards. Capitol One automatically raised the Limit without an additional deposit from 200 to $500 a while back, and as my Credit score has Shot up I've gotten all types of continually better Credit Card Offers. My FICO Scores are EQ: 777 TU: 781 EX: 734 .

Please help me as far as applying for Credit Cards. Which Ones Should i apply for and how many? I currently am applying mostly to just build my credit further, i currently only ever charge what i can pay off and never go above 30% on any card i have. My income is currently only about $35,000 a year, but i live with family and have essentially no expenses at all, no major ones at least. My goal is to build my credit and have nice cards with high limits for myself in the future when i may need to use them. Anyway, I've got a QuikSilver that I am "Pre-Approved" for, and some others that i am PreQualified for, i Show A Chase Freedom and Chase Slate Card and maybe more that show up on Chase's PreQualified Site, i have received A couple Citi Card Mailers but they appear to be only Invitations to apply, a Discover.IT one, and a Bank Of America Card offer.

What should i do, Which do i apply for, which are the "best" etc etc. i need advice. I am not too worried about the rewards and all of that simply because I will be spending so little on each card, at least until my limits are significantly higher, that the rewards matter little to me, but would still like the best cards i can get obviously, do i apply for the best or go for sure bets or whats my strategy here.
If Kure not looking for anything like a travel rewards card, I'd suggest that you stick with a cash back card. That would be the Quicksilver which gives you a straight 1.5% cash back. The Chase Freedom also is a good choice as it gives you cash back or points based on quarterly rotating categories. Either one would a good card for you to start out with.

Ok thanks so that answers part of my latest question, last question. Should i just apply for the best of each card offered? I'm worried if i get denied i will have to do a whole seperate app for a lesser card. Also, Should i apply for the quicksilver that i am pre-approved for, or for the regular one from the website, i guess the one they sent me in the mail mentions raising the limit after 6 months of on time payments, or a steps program, and i am not sure if thats better or worse than one without such a thing.

Re: Help Me w/ My 1st UnSecured Card PLEASE

Anonymous — Sat, 09 May 2015 20:37:15 GMT

@FiveOhFour wrote:
Thanks again. Question is should i apply for the Quicksilver card that i am pre-approved for as well since i assume that is still a Hard Pull? Also, If you apply for a Capitol one card for instance, does it check to see all Capitol One Cards you qualify for or only the specific one you are applying for? Will it tell you if you can get a card thats better than what you applied for? Will it tell you if you cant get the one you applied for which ones you can get ?

@FiveOhFour,

Any credit application is a HARDPULL. With CAP 1, it will be 3 hardpulls 1 on each report. If you apply for a CAP 1 card, the computer does not give you an option of others you qualify for at time of applying or in the middle of applications..

This -Will it tell you if you can get a card thats better than what you applied for? Will it tell you if you cant get the one you applied for which ones you can get ? What card is better is for your the USER to decide. CAP 1 can't decide for us as they don't know your spending habits, what you want in a card etc..

Re: Help Me w/ My 1st UnSecured Card PLEASE

FiveOhFour — Sat, 09 May 2015 20:38:16 GMT

@Anonymous wrote:
@FiveOhFour wrote:
Thanks again. Question is should i apply for the Quicksilver card that i am pre-approved for as well since i assume that is still a Hard Pull? Also, If you apply for a Capitol one card for instance, does it check to see all Capitol One Cards you qualify for or only the specific one you are applying for? Will it tell you if you can get a card thats better than what you applied for? Will it tell you if you cant get the one you applied for which ones you can get ?
@FiveOhFour,

Any credit application is a HARDPULL. With CAP 1, it will be 3 hardpulls 1 on each report. If you apply for a CAP 1 card, the computer does not give you an option of others you qualify for.

This -Will it tell you if you can get a card thats better than what you applied for? Will it tell you if you cant get the one you applied for which ones you can get ? What card is better is for your the USER to decide. CAP 1 can't decide for us as they don't know your spending habits, what you want in a card etc..

Thanks, i guess when i say better i am going buy the tiers, or whether Excellent/Good/Average credit is needed, so i'm calling cards that require Excellent credit "the better cards"

Re: Help Me w/ My 1st UnSecured Card PLEASE

FiveOhFour — Sat, 09 May 2015 20:39:34 GMT

i guess i need to just apply for a few cards and stop thinking so hard, just trying to make the right choices.

Re: Help Me w/ My 1st UnSecured Card PLEASE

Anonymous — Sat, 09 May 2015 20:53:44 GMT

@FiveOhFour wrote:
i guess i need to just apply for a few cards and stop thinking so hard, just trying to make the right choices.

It is good to ask questions and make the right choices.. I wouldn't put much into what CAP 1 considers "Excellent/Good/Average". People with scores lower than yours and less than stellar profiles have been approved for their excellent tiered card. So I wouldn't worry about it.

Are you also interested in the Venture or just the quicksilver?

Re: Help Me w/ My 1st UnSecured Card PLEASE

FiveOhFour — Sat, 09 May 2015 20:58:29 GMT

@Anonymous wrote:
@FiveOhFour wrote:
Thanks again. Question is should i apply for the Quicksilver card that i am pre-approved for as well since i assume that is still a Hard Pull? Also, If you apply for a Capitol one card for instance, does it check to see all Capitol One Cards you qualify for or only the specific one you are applying for? Will it tell you if you can get a card thats better than what you applied for? Will it tell you if you cant get the one you applied for which ones you can get ?
@FiveOhFour,

Any credit application is a HARDPULL. With CAP 1, it will be 3 hardpulls 1 on each report. If you apply for a CAP 1 card, the computer does not give you an option of others you qualify for at time of applying or in the middle of applications..

This -Will it tell you if you can get a card thats better than what you applied for? Will it tell you if you cant get the one you applied for which ones you can get ? What card is better is for your the USER to decide. CAP 1 can't decide for us as they don't know your spending habits, what you want in a card etc..

Ok so i just applied for the QuickSilver and was approved for $3,000 Credit Line and 0% intro APR but 22.9% Variable after that, I was thinking my rate would be lower honestly but hey.