topic Re: Which credit card should I consider applying for? in Credit Cards

Which credit card should I consider applying for?

Reviewers — Wed, 16 Aug 2023 17:02:30 GMT

I'm here for some advice and guidance regarding my current credit card situation. I currently have a credit score of 700 and I have a few credit cards. Here's a breakdown of my existing cards and credit limits:

Chase Sapphire Reserve: $16,000
Capital One Venture One: $3,200
Capital One Quicksilver: $750
Discover IT: $12,400
AMEX Everyday: $1,500
Wells Fargo Microcenter Store Card: $2,000

I recently dealt with a car loan which resulted in one of the three hard inquiries on my credit report. The good news is that I've successfully paid off the car loan, but I'm now considering the possibility of applying for additional credit cards. I'm interested in finding out which credit card options would be best for me. I'd greatly appreciate any suggestions, or recommendations. Thank you.

Re: Which credit card should I consider applying for?

Horseshoez — Wed, 16 Aug 2023 17:07:31 GMT

@Reviewers wrote:
I'm here for some advice and guidance regarding my current credit card situation. I currently have a credit score of 700 and I have a few credit cards. Here's a breakdown of my existing cards and credit limits:

Chase Sapphire Reserve: $16,000
Capital One Venture One: $3,200
Capital One Quicksilver: $750
Discover IT: $12,400
AMEX Everyday: $1,500
Wells Fargo Microcenter Store Card: $2,000

I recently dealt with a car loan which resulted in one of the three hard inquiries on my credit report. The good news is that I've successfully paid off the car loan, but I'm now considering the possibility of applying for additional credit cards. I'm interested in finding out which credit card options would be best for me. I'd greatly appreciate any suggestions, or recommendations. Thank you.

Other than your two overlapping travel cards, it seems like you have a decent mix already; do you have a need for additional cards or do you just want some?

Re: Which credit card should I consider applying for?

SouthJamaica — Wed, 16 Aug 2023 17:10:36 GMT

@Reviewers wrote:
I'm here for some advice and guidance regarding my current credit card situation. I currently have a credit score of 700 and I have a few credit cards. Here's a breakdown of my existing cards and credit limits:

Chase Sapphire Reserve: $16,000
Capital One Venture One: $3,200
Capital One Quicksilver: $750
Discover IT: $12,400
AMEX Everyday: $1,500
Wells Fargo Microcenter Store Card: $2,000

I recently dealt with a car loan which resulted in one of the three hard inquiries on my credit report. The good news is that I've successfully paid off the car loan, but I'm now considering the possibility of applying for additional credit cards. I'm interested in finding out which credit card options would be best for me. I'd greatly appreciate any suggestions, or recommendations. Thank you.

Well, what would you like to have in terms of features? And what would you like to use the card for?

You already have a premier travel card, and some decent cash back cards.

Would you want to build up your cash back, or your travel? Or would you like a card that's good for money management, with low interest, no balance transfer fees, etc?

Re: Which credit card should I consider applying for?

Reviewers — Wed, 16 Aug 2023 17:13:54 GMT

@Horseshoez I rarely use the Capital One Venture One, my primary travel card is the CSR so I am contemplating switching it back to a Quicksilver card. I don't necessarily need more more cards, I was just curious if it would benefit me and if so which card would best for me.

Re: Which credit card should I consider applying for?

CYBERSAM — Wed, 16 Aug 2023 17:19:54 GMT

@Reviewers wrote:
I'm here for some advice and guidance regarding my current credit card situation. I currently have a credit score of 700 and I have a few credit cards. Here's a breakdown of my existing cards and credit limits:

Chase Sapphire Reserve: $16,000
Capital One Venture One: $3,200
Capital One Quicksilver: $750
Discover IT: $12,400
AMEX Everyday: $1,500
Wells Fargo Microcenter Store Card: $2,000

I recently dealt with a car loan which resulted in one of the three hard inquiries on my credit report. The good news is that I've successfully paid off the car loan, but I'm now considering the possibility of applying for additional credit cards. I'm interested in finding out which credit card options would be best for me. I'd greatly appreciate any suggestions, or recommendations. Thank you.

Wait till your score improves to around 740+ Any CCs that you try to get now most likely going to be lower limit with higher APR bracket. Adding new cards would probably lower your score and label you as Credit Seeker!

Just garden for few months till your score moves up from borderline 6XX.

Re: Which credit card should I consider applying for?

Horseshoez — Wed, 16 Aug 2023 17:24:07 GMT

@Reviewers wrote:
@Horseshoez I rarely use the Capital One Venture One, my primary travel card is the CSR so I am contemplating switching it back to a Quicksilver card. I don't necessarily need more more cards, I was just curious if it would benefit me and if so which card would best for me.

I was wondering about that very point; from my perspective, there really isn't a benefit to having two Quicksilver cards; that said, I think a product change from the VentureOne to a SavorOne would make a lot of sense.

Re: Which credit card should I consider applying for?

Hoben02 — Wed, 16 Aug 2023 20:55:06 GMT

If you want to build up your stash of chase ur points you should look into setting up the chase trifecta which could be the cfu and freedom flex

Re: Which credit card should I consider applying for?

Horseshoez — Wed, 16 Aug 2023 21:32:33 GMT

@Hoben02 wrote:
If you want to build up your stash of chase ur points you should look into setting up the chase trifecta which could be the cfu and freedom flex

I agree that would be a good goal for the OP in the long run, but by PCing from the basically unused VentureOne to a SavorOne, the OP can gain a more useful card without any hard pulls.

Re: Which credit card should I consider applying for?

Beefy1212 — Thu, 17 Aug 2023 10:42:12 GMT

@Horseshoez wrote:
@Hoben02 wrote:
If you want to build up your stash of chase ur points you should look into setting up the chase trifecta which could be the cfu and freedom flex
I agree that would be a good goal for the OP in the long run, but by PCing from the basically unused VentureOne to a SavorOne, the OP can gain a more useful card without any hard pulls.

Is it more useful though? that CSR is getting 3x points on dining at restaurants, including eligible delivery services, takeout, and dining out thats 4.5x when redeemed for travel while yes the 3% grocery would be a benefit, they have BCE. The only benefit that the V1 is giving is being another open trade line, and that isn't going to change with a PC.

Re: Which credit card should I consider applying for?

Horseshoez — Thu, 17 Aug 2023 11:41:41 GMT

@Beefy1212 wrote:
@Horseshoez wrote:
@Hoben02 wrote:
If you want to build up your stash of chase ur points you should look into setting up the chase trifecta which could be the cfu and freedom flex
I agree that would be a good goal for the OP in the long run, but by PCing from the basically unused VentureOne to a SavorOne, the OP can gain a more useful card without any hard pulls.
Is it more useful though? that CSR is getting 3x points on dining at restaurants, including eligible delivery services, takeout, and dining out thats 4.5x when redeemed for travel while yes the 3% grocery would be a benefit, they have BCE. The only benefit that the V1 is giving is being another open trade line, and that isn't going to change with a PC.

The only person who can answer that question is the OP; I have a CSP and a SavorOne, the first gives points, the second gives cash. Some times the points are more valuable, other times the cash is more valuable; I would argue having both is a benefit.

Re: Which credit card should I consider applying for?

Webspry — Sun, 20 Aug 2023 16:32:50 GMT

Personally I wouldn't add any new cards until you up your score a little more, above 750. Use and get CLIs on existing cards, hopefully you're in a position that you don't carry any balances. You currently have relationships with the big 3 networks, Amex, Visa, Discover. Your Amex Every Day card could easily be at a 15k CL in 6 months if you work it right with no new hard pulls. Obviously this is my opinion based on my experiences with the Big 3 for more than 25 years. I have 5 Amex cards Personal/ Business, Discover, and Chase Visa. I don't **bleep** around with branded store cards at all.