topic Re: Help....Which Credit Card to Apply For?? in Credit Cards

Help....Which Credit Card to Apply For??

Anonymous — Mon, 12 Oct 2015 03:04:38 GMT

Which Credit Card to Apply For??

Hello Community! This is my first post. I've been trying to rebuild my credit for the past year. I've been reading posts here for the past several months and need some advise about which credit card to apply for? This is my first credit card in 30 years. I opened an Open Sky CC with a $200 cl and only have a 1% UTL just to have something to report to the CRA. Any advise would be much appreciated!

My Scores

Experian Fico 8 - 715 (2 inq from car finance 8/2014)

TransU Fico 8 - 669 (1 inq from car finance 8/2014; 1 inq from NFCU 4/2015)

Equifax Fico 8 - 708 (5 inq from car finance 8/2014)

Income around 65k

Baddies

2 judgments (State Lien) showing only on TU

1 late payment showing on all 3 CRA, but have not been late in 12 months

Credit

Open Sky Secure (opened Sept 2015) - $200 cl/UTL 1% (UTL 1% on Experian & Equifax, UTL 15% showing on TU-hasn't updated yet)

Mortgage - 12 months on time pymt

Car Loan with Cap One - 12 months on time pymt

Other Background Information....

- I currently have pre-approved offers from USAA Preferred Cash Rewards World MC and Capital One Platinum MC.

- I have received offers, but not pre-approved, from Citi Diamond Preferred Card and Discover

- I would really like to apply for Southwest Airlines Premier, Cap One Venture and Cap One QS and NFCU.

- I have accounts with USAA and NFCU.

Should I apply for the pre-approved offers first...both or just one? Also should I use the pre-qualified page for Cap One to see if I qualify for a different card? And how long should I garden after I apply for any cards?

Re: Which Credit Card to Apply For??

Anonymous — Mon, 12 Oct 2015 03:01:50 GMT

It depends on your spending/needs/wants. What do you spend your cash on? Travel, groceries, gas, clothes, online, restaurants?

Re: Help....Which Credit Card to Apply For??

Anonymous — Mon, 12 Oct 2015 03:17:43 GMT

@Anonymous wrote:
Which Credit Card to Apply For??

If I could redo all my applications again which I began this April, I would hoard cash bonus sign ups but in a different order this time around. First I would apply for Chase Freedom when it is offering a $200 sign up bonus (I predict it will occur be before X-mas), and then the rest of the credit cards in my signature except for the store cards. It doesn't matter in what order. You'll have all the cash back for every category that exist from 2%-5%, the lowest being 1.5% with Capital One Quicksilver. From my point of view, they can be sales tax relief.

The reason why you want to apply for Chase first is because they will automatically reject your application if you have more than 5 new accounts opened in the last 24 months. I went over that in less than 6 months and unfortunately, learned of their rules far too late.

Re: Help....Which Credit Card to Apply For??

Anonymous — Mon, 12 Oct 2015 04:02:13 GMT

@Anonymous wrote:
@Anonymous wrote:
Which Credit Card to Apply For??

If I could redo all my applications again which I began this April, I would hoard cash bonus sign ups but in a different order this time around. First I would apply for Chase Freedom when it is offering a $200 sign up bonus (I predict it will occur be before X-mas), and then the rest of the credit cards in my signature except for the store cards. It doesn't matter in what order. You'll have all the cash back for every category that exist from 2%-5%, the lowest being 1.5% with Capital One Quicksilver. From my point of view, they can be sales tax relief.

The reason why you want to apply for Chase first is because they will automatically reject your application if you have more than 5 new accounts opened in the last 24 months. I went over that in less than 6 months and unfortunately, learned of their rules far too late.

Are you saying to apply for Chase Southwest before my pre-approved offers from USAA AND Cap 1? Do you think Chase will approve me with my TU score and the judgments?

Re: Help....Which Credit Card to Apply For??

Anonymous — Mon, 12 Oct 2015 04:40:14 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
Which Credit Card to Apply For??

Are you saying to apply for Chase Southwest before my pre-approved offers from USAA AND Cap 1? Do you think Chase will approve me with my TU score and the judgments?

Search for "New Rule for Chase Credit Card Approvals and What to do About it!

"If you’ve opened 5 or more new credit card accounts (any bank!) in the past 24 months (excluding authorized user accounts), you will NOT be approved for a Chase branded card."

"Details sometimes vary, but it appears the new rule applies to Chase branded cards, NOT airline or hotel cards. These cards include:"

Chase Southwest Rapid Rewards Premier (Personal)

Chase Southwest Rapid Rewards Premier (Business)

Chase Southwest Rapid Rewards Plus

Re: Help....Which Credit Card to Apply For??

Anonymous — Mon, 12 Oct 2015 04:55:32 GMT

Use Credit Pull Database (look it up) and use it to determine if you might qualify. As I said previously, you can use Chase pre-qualified webpage to see if they have any offers for you after you've filled out the needed information (soft pull). I will not know if you would be approved or not but you can always call to ask for a reconsideration.

If you are interested in the Chase Freedom you will need to apply for it before all other cards because some applicants have been rejected with less than 4 new accounts opened in the last 24 months.

Re: Help....Which Credit Card to Apply For??

NRB525 — Mon, 12 Oct 2015 04:47:55 GMT

OP, you have banking accounts with NFCU already? They seem to be a popular card, you should talk with them about applying for a credit card.

If you go to the Citi prequalification link, what is the result that is returned? Do you get a single APR on the cards like the Double Cash or Simplicity? If so, a single APR (even if it is a higher APR) and not a range of APR, that is a good sign for that lender.

Fritz's notes about Chase are relevant, however it's probably a bit early to be strategizing to that level of detail. You first need to see if you get regular CC, such as NFCU. Take the application process slowly until you get another card, and that card has a few months to report, then re-evaluate at that point.

Good luck!

Re: Help....Which Credit Card to Apply For??

SouthJamaica — Mon, 12 Oct 2015 12:16:20 GMT

@Anonymous wrote:
Which Credit Card to Apply For??

Hello Community! This is my first post. I've been trying to rebuild my credit for the past year. I've been reading posts here for the past several months and need some advise about which credit card to apply for? This is my first credit card in 30 years. I opened an Open Sky CC with a $200 cl and only have a 1% UTL just to have something to report to the CRA. Any advise would be much appreciated!

My Scores
Experian Fico 8 - 715 (2 inq from car finance 8/2014)
TransU Fico 8 - 669 (1 inq from car finance 8/2014; 1 inq from NFCU 4/2015)
Equifax Fico 8 - 708 (5 inq from car finance 8/2014)
Income around 65k

Baddies
2 judgments (State Lien) showing only on TU
1 late payment showing on all 3 CRA, but have not been late in 12 months

Credit
Open Sky Secure (opened Sept 2015) - $200 cl/UTL 1% (UTL 1% on Experian & Equifax, UTL 15% showing on TU-hasn't updated yet)
Mortgage - 12 months on time pymt
Car Loan with Cap One - 12 months on time pymt

Other Background Information....
- I currently have pre-approved offers from USAA Preferred Cash Rewards World MC and Capital One Platinum MC.
- I have received offers, but not pre-approved, from Citi Diamond Preferred Card and Discover
- I would really like to apply for Southwest Airlines Premier, Cap One Venture and Cap One QS and NFCU.
- I have accounts with USAA and NFCU.

Should I apply for the pre-approved offers first...both or just one? Also should I use the pre-qualified page for Cap One to see if I qualify for a different card? And how long should I garden after I apply for any cards?

I think your best bet would be the Cap One Quicksilver; an all around good card. Great cash back, easy and fast redemption, no fee balance transfers.

Re: Help....Which Credit Card to Apply For??

Anonymous — Mon, 12 Oct 2015 12:34:05 GMT

I agree with the NFCU rewards cards. Not everyone can get into NFCU so if you bank there I would definitely try them. With your scores and income you have a decent chance of getting a decent credit limit.

Re: Help....Which Credit Card to Apply For??

Anonymous — Mon, 12 Oct 2015 15:09:07 GMT

@NRB525 wrote:
OP, you have banking accounts with NFCU already? They seem to be a popular card, you should talk with them about applying for a credit card.

If you go to the Citi prequalification link, what is the result that is returned? Do you get a single APR on the cards like the Double Cash or Simplicity? If so, a single APR (even if it is a higher APR) and not a range of APR, that is a good sign for that lender.

Fritz's notes about Chase are relevant, however it's probably a bit early to be strategizing to that level of detail. You first need to see if you get regular CC, such as NFCU. Take the application process slowly until you get another card, and that card has a few months to report, then re-evaluate at that point.

Good luck!

Yes, I have a savings account with NFCU, but I do more business with USAA and I have Cap 1 Auto Fin. My pre-approved offers are with USAA and Cap 1. I will give NFCU a call like you suggested and see what they say. My hesitation is with my TransU credit score and the 2 judgments showing on TransU and no credit card history. I will also check the prequalification links and let you know.

Re: Help....Which Credit Card to Apply For??

Anonymous — Mon, 12 Oct 2015 15:16:14 GMT

@SouthJamaica wrote:
@Anonymous wrote:
Which Credit Card to Apply For??

Hello Community! This is my first post. I've been trying to rebuild my credit for the past year. I've been reading posts here for the past several months and need some advise about which credit card to apply for? This is my first credit card in 30 years. I opened an Open Sky CC with a $200 cl and only have a 1% UTL just to have something to report to the CRA. Any advise would be much appreciated!

My Scores
Experian Fico 8 - 715 (2 inq from car finance 8/2014)
TransU Fico 8 - 669 (1 inq from car finance 8/2014; 1 inq from NFCU 4/2015)
Equifax Fico 8 - 708 (5 inq from car finance 8/2014)
Income around 65k

Baddies
2 judgments (State Lien) showing only on TU
1 late payment showing on all 3 CRA, but have not been late in 12 months

Credit
Open Sky Secure (opened Sept 2015) - $200 cl/UTL 1% (UTL 1% on Experian & Equifax, UTL 15% showing on TU-hasn't updated yet)
Mortgage - 12 months on time pymt
Car Loan with Cap One - 12 months on time pymt

Other Background Information....
- I currently have pre-approved offers from USAA Preferred Cash Rewards World MC and Capital One Platinum MC.
- I have received offers, but not pre-approved, from Citi Diamond Preferred Card and Discover
- I would really like to apply for Southwest Airlines Premier, Cap One Venture and Cap One QS and NFCU.
- I have accounts with USAA and NFCU.

Should I apply for the pre-approved offers first...both or just one? Also should I use the pre-qualified page for Cap One to see if I qualify for a different card? And how long should I garden after I apply for any cards?
I think your best bet would be the Cap One Quicksilver; an all around good card. Great cash back, easy and fast redemption, no fee balance transfers.

I have Cap One auto finance, but only received a pre-approved offer for their Platinum MC, probably because I don’t have credit card history. I will check Cap One’s prequalification page and let you know.

Re: Help....Which Credit Card to Apply For??

Anonymous — Mon, 12 Oct 2015 15:17:42 GMT

@Anonymous wrote:
I agree with the NFCU rewards cards. Not everyone can get into NFCU so if you bank there I would definitely try them. With your scores and income you have a decent chance of getting a decent credit limit.

Ok...I will give them a call and see. My hesitation is with my TransU credit score and the 2 judgments showing on TransU and I have no credit card history.

Re: Help....Which Credit Card to Apply For??

Anonymous — Mon, 12 Oct 2015 15:37:32 GMT

They can only say no . Let us know what you do!

Re: Help....Which Credit Card to Apply For??

Anonymous — Mon, 12 Oct 2015 16:43:28 GMT

Do not waste your inquiries. Too many of them and they will question why you are desperate for new line of credit. Research your chances before applying.

Re: Help....Which Credit Card to Apply For??

Anonymous — Tue, 13 Oct 2015 18:48:15 GMT

@NRB525 wrote:
OP, you have banking accounts with NFCU already? They seem to be a popular card, you should talk with them about applying for a credit card.

If you go to the Citi prequalification link, what is the result that is returned? Do you get a single APR on the cards like the Double Cash or Simplicity? If so, a single APR (even if it is a higher APR) and not a range of APR, that is a good sign for that lender.

Fritz's notes about Chase are relevant, however it's probably a bit early to be strategizing to that level of detail. You first need to see if you get regular CC, such as NFCU. Take the application process slowly until you get another card, and that card has a few months to report, then re-evaluate at that point.

Good luck!

I took your advice and called NFCU. I’m thinking about applying for their Cash Reward card (any suggestions). I will get an auto increase after 13 months, but if I want an increase before then, it will be a hard pull.

I also checked the prequalification page for Cap One. I was pre-approved for QS and Venture. I decided not to bother with Citi.

I’m taking things slowly as suggested. Any advice on who I should app with first? And should I get 2 cards or just one? I’m worried about the inquiries on my CRA’s and lack of credit card history.

Re: Help....Which Credit Card to Apply For??

Anonymous — Tue, 13 Oct 2015 18:53:20 GMT

@SouthJamaica wrote:
@Anonymous wrote:
Which Credit Card to Apply For??

Hello Community! This is my first post. I've been trying to rebuild my credit for the past year. I've been reading posts here for the past several months and need some advise about which credit card to apply for? This is my first credit card in 30 years. I opened an Open Sky CC with a $200 cl and only have a 1% UTL just to have something to report to the CRA. Any advise would be much appreciated!

My Scores
Experian Fico 8 - 715 (2 inq from car finance 8/2014)
TransU Fico 8 - 669 (1 inq from car finance 8/2014; 1 inq from NFCU 4/2015)
Equifax Fico 8 - 708 (5 inq from car finance 8/2014)
Income around 65k

I think your best bet would be the Cap One Quicksilver; an all around good card. Great cash back, easy and fast redemption, no fee balance transfers.

I checked the prequalification page for Cap One. I was pre-approved for QS and Venture.

I called NFCU. I’m thinking about applying for their Cash Reward card (any suggestions). I will get an auto increase after 13 months, but if I want an increase before then, it will be a hard pull.

Any advice on who I should app with first? And should I get 2 cards or just one? I’m worried about the inquiries on my CRA’s and lack of credit card history.

Re: Help....Which Credit Card to Apply For??

Anonymous — Tue, 13 Oct 2015 18:55:16 GMT

@Anonymous wrote:
I agree with the NFCU rewards cards. Not everyone can get into NFCU so if you bank there I would definitely try them. With your scores and income you have a decent chance of getting a decent credit limit.

I called NFCU. I’m thinking about applying for their Cash Reward card (any suggestions). I will get an auto increase after 13 months, but if I want an increase before then, it will be a hard pull.

What do you think my chances are with my inquiries on Equifax?

Re: Help....Which Credit Card to Apply For??

Anonymous — Tue, 13 Oct 2015 18:57:33 GMT

@Anonymous wrote:

Any advice on who I should app with first? And should I get 2 cards or just one? I’m worried about the inquiries on my CRA’s and lack of credit card history.

Venture is the hard card to qualify I assume, unless you desire the 1.5% cash back on all purchases everywhere and on anything. Get both if you would benefit from both. If not, get the one that would benefit you the most.

Just don't apply for VentureOne.

Re: Help....Which Credit Card to Apply For??

Anonymous — Tue, 13 Oct 2015 19:05:53 GMT

@Anonymous wrote:
@Anonymous wrote:

Any advice on who I should app with first? And should I get 2 cards or just one? I’m worried about the inquiries on my CRA’s and lack of credit card history.

Venture is the hard card to qualify I assume, unless you desire the 1.5% cash back on all purchases everywhere and on anything. Get both if you would benefit from both. If not, get the one that would benefit you the most.

Just don't apply for VentureOne.

If I do both (QS and Venture), will it be on the same HP? I just checked credit card DB and Cap One pulls all 3 CRA for Venture.

Re: Help....Which Credit Card to Apply For??

Anonymous — Tue, 13 Oct 2015 20:01:37 GMT

Any cap1 app is going to pull all crb so it's a triple pull. Anectodatally on here ppl have said if you app for two cards on same day you should see only the one triple pull. Also if you research NFCU traditionally pulls EQ. If it were me I'd app for 2 cap one cards back to back and then app NFCU. Of the Capone cards, the venture is harder to get. Also it's travel rewards so I don't know how you would use those rewards. I like cash back so I would app for QS and QS1. (QS first because no AF), then I'd app NFCU. I can almost guarantee you I'll get the NFCU rewards card. Good luck!