topic Re: What card to aim for next? in Credit Cards

What card to aim for next?

jonblaze24 — Fri, 04 Dec 2020 19:31:16 GMT

After being in the low 500's just a few short years ago....my experian/fico sits in the 675 range. My current card situation is

Cap1 Plat- $0/$800 CL

Cap1 Qkslvr- $240/$1050 CL

DiscoverIT- $900/$3,350 CL

Peoples United Bank/Elan- $177/$9,000 CL

Overall my utilization is in good standing, and I have one *paid* chargeoff from a BOA card 3 years ago. I am looking into acquiring one more big boy card given that I am looking at buying a home shortly and to satisfy my long term spending needs....do you guys have any recommendations on where I should look to apply next? I just got a decline from Chase Freedom last month, so they are out. Thanks guys!

Re: What card to aim for next?

randomguy1 — Fri, 04 Dec 2020 20:38:26 GMT

@jonblaze24 wrote:
After being in the low 500's just a few short years ago....my experian/fico sits in the 675 range. My current card situation is

Cap1 Plat- $0/$800 CL
Cap1 Qkslvr- $240/$1050 CL
DiscoverIT- $900/$3,350 CL
Peoples United Bank/Elan- $177/$9,000 CL

Overall my utilization is in good standing, and I have one *paid* chargeoff from a BOA card 3 years ago. I am looking into acquiring one more big boy card given that I am looking at buying a home shortly and to satisfy my long term spending needs....do you guys have any recommendations on where I should look to apply next? I just got a decline from Chase Freedom last month, so they are out. Thanks guys!

If you are buying a home shortly, I recommend not opening a card until escrow is closed. Take your Freedom denial as a blessing. Improve your score, the interest rate on your multi-[hundred]-thousand dolar purchase over 15/30+ years is more important than any credit card rewards right now.

Re: What card to aim for next?

JNA1 — Fri, 04 Dec 2020 20:59:33 GMT

@randomguy1 wrote:
@jonblaze24 wrote:
After being in the low 500's just a few short years ago....my experian/fico sits in the 675 range. My current card situation is

Cap1 Plat- $0/$800 CL
Cap1 Qkslvr- $240/$1050 CL
DiscoverIT- $900/$3,350 CL
Peoples United Bank/Elan- $177/$9,000 CL

Overall my utilization is in good standing, and I have one *paid* chargeoff from a BOA card 3 years ago. I am looking into acquiring one more big boy card given that I am looking at buying a home shortly and to satisfy my long term spending needs....do you guys have any recommendations on where I should look to apply next? I just got a decline from Chase Freedom last month, so they are out. Thanks guys!
If you are buying a home shortly, I recommend not opening a card until escrow is closed. Take your Freedom denial as a blessing. Improve your score, the interest rate on your multi-[hundred]-thousand dolar purchase over 15/30+ years is more important than any credit card rewards right now.

Agreed. You want to avoid new accounts if you're going for a mortgage soon.

Re: What card to aim for next?

KJinNC — Fri, 04 Dec 2020 21:56:18 GMT

Sounds like good advice if you are preparing for a mortgage, but, I haven't applied for a mortgage in many years, so I have no first-hand knowledge there.

If you WERE to want to get a card now, given what you have, I would look at Amex cobrand cards, such as Hilton and Delta. JMO. Good luck!

Re: What card to aim for next?

Anonymous — Sat, 05 Dec 2020 21:18:09 GMT

I would just garden until you are settled with your mortage. But if you really want a card now, I would try for Amex Everyday. It's the first card that I got with AmEx when I was scores were about yours in college. It's not really a card that I use very often now, but it was so useful with helping my credit limit, score, and history grow.