topic Re: Which card would you recommend? in Credit Cards

Which card would you recommend?

Anonymous — Sun, 09 Apr 2017 06:27:01 GMT

Currently I have a QS CL $3500, BBCA Clear Points CL $6500. Current utilization is 18% and thinking of paying it below 10%. My Bankcard scores are 731, 736, an 717. Several years ago had charge offs, now paid, with premier and capital one.

After we close on our home and it is recorded and funded I plan on applying for 1-3 new cards. I have a high income. NFCU appears to be the winner for the mortgage.

I've been looking Chase Freedom Unlimited, Discover IT, NFCU cashReards, I am looking for cash rewards and/or long Intro 0% APR. I'm not sure what scores each pulls, inquiry sensitivity, or or which offer generally higher limits. By the time I apply I will have pulls from a 2015 car loan, this mortgage, my NFCU account opening, my 9/16 CLI with Compass, and maybe a utility from when we moved a little over a year ago. I shopped with several lenders over a week or so for the car and mortgage loans.

Chase says I prequal for CFU, Slate(?), and one other. Discover say I prequal for Discover IT. Amex Blue Everyday also is prequal.

Also, my wife will also be looking for her first CC in 5 years after having now paid charge offs with premier and capital one. Her bankcard scores are 689, 699, and 642. Again, long intro rates and rewards welcome with higher limits. She has 1-2 pulls on her report which are very recent. Wife is an AU for my cards listed above.

Prequals include Discover IT, Chase Freedom.

Higher limits for us both is important, but low intro rates and rewards cash or points - is also important. Any advice?

Re: Which card would you recommend?

Anonymous — Sun, 09 Apr 2017 04:46:06 GMT

Have all your baddies cleared off? The three favorite at our house Amex Blue Chase Pref 6% supemarket 3% gas ,Discover love those 5% categories , and Disco deals and citi Double Cash. Amex because of supermarkets gets the most , Discover 2nd because of those 5% and finally Citi brings inthe rear, Cap 1 QS got left in the dust. We still use some because it was good to us when we need it.

Re: Which card would you recommend?

Anonymous — Sun, 09 Apr 2017 05:02:28 GMT

Experian is still showing 3 paid medical collections. All others cleared except the 2 cc co's from 2012 that have been paid off for close to 2 years. Come to think of it, there was a student loan default (boneheaded I missed it because we moved and never got a letter from 2012 paid off with consolidation in 7/2014).

The wife has her 2 cc co's from 2012 paid off more recently and a paid off medical collection still showing on EQ.

Re: Which card would you recommend?

Anonymous — Sun, 09 Apr 2017 05:08:48 GMT

I know Amex pulls Exp. I think Disco also and cti does either Exp or EQ.. You may want to read the Disco data points post it is long. Can you GW those medicals away? Since you PIF it would be worth a try. Amex baseline score is around 700 Disco and Citi DC a little lower score Good Luck

Re: Which card would you recommend?

Anonymous — Sun, 09 Apr 2017 05:31:08 GMT

You may want to get either a Lowe's or Home Depot Card. One of the Disco 5% bonus cat. once or twice a year covers Lowes and Home Depot. Disco has it on this quarter. I believe the Lowes card gets 5% off. I don't have either but in my older home got hit by the storms and both Lowes and Home Depot just got a ton of money from us

Re: Which card would you recommend?

Anonymous — Sun, 09 Apr 2017 06:12:35 GMT

Looking for more flexibility than a store card for now, though certainly open to it later on. The house is in top notch condition, being recently remodeled throughout. I'd consider a Compass Signature Express Loan for new furniture before a store card as they are hounding me with a prequal and the interest rates are good (as low as 7.99-10.99%) with equal installments on >$2k from 24-72 months. I'll also get a 1.25% discount with them off that rate. The other option is a cc with 0% apr and pay off before it expires or maybe some combo of the 2 for upcoming puchases (would pay off early).

Re: Which card would you recommend?

HeavenOhio — Sun, 09 Apr 2017 06:16:35 GMT

@Anonymous wrote:
After we close on our home and it is recorded and funded I plan on applying for 1-3 new cards. I have a high income. NFCU appears to be the winner for the mortgage.

To be on the safe side, if you plan to apply using your new address, make sure it shows up on your credit reports. That would avoid some potential for verification hurdles.

Re: Which card would you recommend?

Anonymous — Sun, 09 Apr 2017 06:18:25 GMT

Forgive my ignorance, but how do I go about doing that?

Re: Which card would you recommend?

HeavenOhio — Sun, 09 Apr 2017 06:28:16 GMT

Report your change of address to your current card companies. They'll likely report it to the bureaus right away. (People here have said they've changed Rd to Road, etc. just to get a card company to report an updated balance.)

Come to think of it, if you're applying for new cards, it might be a good idea to make sure your utilization is in check when you do your address changes.

Re: Which card would you recommend?

Anonymous — Sun, 09 Apr 2017 06:34:41 GMT

I have a payment due on the 19th and thinking of paying the one card at 18% down below 10% prior to that. My mortgage LO gave the go ahead for doing that.

Re: Which card would you recommend?

HeavenOhio — Sun, 09 Apr 2017 06:44:01 GMT

@Anonymous wrote:
I have a payment due on the 19th and thinking of paying the one card at 18% down below 10% prior to that. My mortgage LO gave the go ahead for doing that.

That should be fine. The main thing to avoid is every card reporting a zero balance; that causes a noticeable score ding. One card reporting a small balance with the rest reporting zero optimizes one's score. But in your case, you're already approved. The only thing you don't want is for your score to go down before you close.

Re: Which card would you recommend?

Anonymous — Sun, 09 Apr 2017 06:53:38 GMT

Thus why I am leaning toward making no sudden moves until after close. There's no hurry other than impatience and discipline is the answer to that.

Re: Which card would you recommend?

Anonymous — Sun, 09 Apr 2017 07:49:43 GMT

In the game of home finance No sudden moves. No new appications, no cli, No Au's I would even be weary of paying anything down. Many years ago when we bought first home we got in trouble when we had enough cash to pay 10% down instead of the 5% and they had to rework the loan. They had to go back to underwriter. We thought they would like the larger downpayment. Delayed everything for about 2 or 3 days.

Re: Which card would you recommend?

Anonymous — Sun, 09 Apr 2017 15:27:58 GMT

Thanks for the sage advice. I think I'll sit until after closing. I got a little excited yesterday. Discipline!