topic Re: Recommendations for Cards with Benefits and 0% APR in Credit Cards

Recommendations for Cards with Benefits and 0% APR

Inearnest — Fri, 10 May 2024 21:49:31 GMT

Hello, I'm new to the forum first time posting, but a long time lurker. Hoping to get recommendations from some of you veterans all for a zero intro APR card with the best rewards that I might have excellent approval odds for.

Basically, my story is that I have okay credit at this point, but I just graduated medical school so I have a massive amount of student debt (almost $700k), and $11k for my auto loan. I can declare income of 90k. I have a year until I can start residency and have a number of large expenses coming up for my applications and such (maybe 7k+), so would like to have a card with 0% APR and a nice sign-up bonus. Ideally, I would like to get a VISA card as I don't have one yet, but open to other options as well as even in my research I don't see a great number of options for my situation. Would prefer to apply for cards I have decent chance at getting so I don't increase the # of pulls on my accounts as I already have 3 TU inquiries from department of education for my student loans. Overall goals would like to get the Chase Sapphire card eventually, but I'm skeptical I can do that at this point with my debt-to-income ratio. Long-term goal of course is to have my credit set up to by a home sooner rather than later.

Scores:

Fico 8: EX 777, EQ 777, TU 770

EX fico 2: 762

Ex fico 3: 721

TU Vantage 3.0: 665

Inquires: EX 0, EQ 0, TU 3

AAoA: 7yrs. AoOA: 16 years

At this time I have no BKs, no late fees or baddies.

Cards I own

-Discover it opened in 2020 [$24k limit, 2% utilization, I have been spending 4-6K on this card and paying it off monthly]

-Capital One Venture opened in 2016 [$4.3k limit, 13% utilization reported, I also pay this card off monthly, but beyond a few fixed bills rarely use due to low limit]

-Authorized User on sister's Chase Sapphire Preferred opened 2015 [$16k limit, 70% utilization...I am not really sure how this factors in to my credit score overall or chances of getting my own card]

Overall with sister's card that puts my utilization at 30% (38% on TU because for some reason it reports my sister's card as 91)

Cards I am Considering:

- Amex Blue Cash or Express Everyday [I did do pre-qual on the Amex website and got offer for the Platinum with 175k bonus points, as well as the Blue, so this seems like a decent option for me]

-Chase Freedom Unlimited [I was thinking this could be good so I have a better chance at chase sapphire later?]

-Capital One Quicksilver [I've got a number of pre-approved offers to my email from capital one]

-BOA customized cash rewards [got a pre-selected letter in the mail]

-Your recommendations here!

Sorry for the long post but wanted to be thorough! Overall I guess I am nervous I'll be applying to cards and get a bunch of pulls on my credit that will make it more difficult. Let me know what you guys think or ways I can improve my chances of getting a good card (beyond yes paying down my ghastly amount of loans). Appreciate your input

Bonus question: What's your goal credit card and why?

Re: Recommendations for Cards with Benefits and 0% APR

DakotaM — Sat, 11 May 2024 01:20:07 GMT

Your scores are good enough for pretty much any card you'd want and lenders don't seem to mind student loans all that much compared to other debts, though maybe that much might make some of them shy. The cards you are considering are all pretty solid too. Since you want the Sapphire card in the future, personally I'd try for the Chase Freedom Unlimited. They complement each other anyway and most of your application expenses will probably be non-category spend, so something like the Freedom Flex with its rotating categories probably won't be as good for you right now.

Be sure to read the fine print on those Capital One pre-approvals. They have multiple tiers for their cards and will sometimes give out "for good credit" pre-approvals without a signup bonus or 0% intro period. Conversely, Amex preapprovals are about as solid as you can get.

I'm at the end of fellowship myself so my unsolicited advice is to please look into the SAVE plan for your federal student loans and also read up on at least the student loan posts at the WhiteCoatInvestor blog. Good luck!

Bonus answer: My goal credit cards keep on changing cause I keep on applying for them. I very recently got a couple goal cards - Amex Platinum and BoA Customized Cash. The BoA card I'll almost certainly keep long-term, but I'm uncertain about the fate of the Amex. My next goal card is probably the US Bank Altitude Reserve for the 3x mobile wallet category. That won't be for a while though, since the sign-up bonus on the Amex will take a while to get through.

Re: Recommendations for Cards with Benefits and 0% APR

Snook_on_the_Line — Sat, 11 May 2024 01:59:28 GMT

Wells Fargo active cash visa signature and their autograph visa offer 0% on purchases and balance transfers for 15 and 21 month respectively.

the active cash earns unlimited 2% cash back on purchases

Re: Recommendations for Cards with Benefits and 0% APR

Snook_on_the_Line — Sat, 11 May 2024 02:01:21 GMT

On a side note 🎵

I feel like this should be moved to Credit Cards

Re: Recommendations for Cards with Benefits and 0% APR

Inearnest — Sat, 11 May 2024 03:00:51 GMT

Thats a great reccomendation, I'll look into the Wellsfargo too.

And opps! Sorry, newb post I thought I had the right wall to post on.

Re: Recommendations for Cards with Benefits and 0% APR

Inearnest — Sat, 11 May 2024 03:27:59 GMT

Congratulations on finishing off your fellowship, I bow down to you, really hoping I can hold out to finish up mine too but these delays feel so painful while this poor haha. I'm super glad you chose to give your two cents, since it seems like you've been right in there with me. That experience is invaluable.

Thats sort of what I was thinking for the Chase Freedom Unlimited as well. I also figured maybe I'd be spending enought to get TWO cards for the sign up bonus and split up the spending to maximize returns when possible. I'll definitely comb through the capital one pre-approval - thanks for the tip!

Personally I've learned that unsolicited advice is a great gift - I can always choose if I want to follow it ha - so much appreciated. Funny enough I just applied for the SAVE plan today, so I'm happy to have your opinion behind that decision. Never heard of the whatcoatinvestor blog, will definitely have to check that out.

I'm so with you on that Amex platnium, super tempted to pull the trigger on that one because I have a lot of travel this year and it would be great for that - but the cost is ugh. Really appreciate you taking the time to give me your input. Best of luck to you in finishing up the fellowship and hitting your credit card goals

Re: Recommendations for Cards with Benefits and 0% APR

SouthJamaica — Sat, 11 May 2024 04:22:16 GMT

I'm thinking Chase Freedom Unlimited for you.

Re: Recommendations for Cards with Benefits and 0% APR

Harvey26 — Sat, 11 May 2024 05:08:03 GMT

@Inearnest I would say start by removing yourself off your sisters card you would be in 800s and the history will still remain on your credit. Also i think the WF Active Cash would be probably the best option but I would also check your offers if your getting preapproved offers they could be different than whats on line.

Re: Recommendations for Cards with Benefits and 0% APR

Kforce — Sat, 11 May 2024 15:11:19 GMT

@Harvey26 wrote:
@Inearnest I would say start by removing yourself off your sisters card you would be in 800s and the history will still remain on your credit. Also i think the WF Active Cash would be probably the best option but I would also check your offers if your getting preapproved offers they could be different than whats on line.

^^^^ This

You sisters high utilization is hurting your score.

Re: Recommendations for Cards with Benefits and 0% APR

Inearnest — Sat, 11 May 2024 18:33:30 GMT

Ah, I wasn't sure how much that utlization would change things. My score actually significantly increased when the card was added to my account a few years go, but I've gotten rid of a few student loan baddies since then and increased my own credit profile. I was nervous to remove her card before I did my application incase my score dropped. Normally her utlization isn't that high but she just had a wedding and honeymoon.

I'm still pretty unclear about how her card affects my credit - so you say the history will stay and bolster my credit application if I remove it?

Thanks so much for your help

Re: Recommendations for Cards with Benefits and 0% APR

Harvey26 — Thu, 13 Jun 2024 03:01:49 GMT

@Inearnest Did you ever remove yourself or app?

Re: Recommendations for Cards with Benefits and 0% APR

Gmoney144 — Fri, 14 Jun 2024 15:42:46 GMT

U.S Bank had 0% offer for 21 months. I took advantage of the offer when I purchased solar for my home. Also, look at First Tech credit union. They are one of the few financial institutions that have no balance transfer fee.

Re: Recommendations for Cards with Benefits and 0% APR

Inearnest — Tue, 02 Jul 2024 16:50:17 GMT

Hello! Thanks for following up I've been meaning to do an update. So here's what happened:

Decided to apply for the Chase Freedom Unlimited - went into the bank and applied in person. Was told by the bank associate that I got the "we will get back to you in a few days" message. Found the "chase approval guide" https://imgur.com/a/chase-approval-guide-oXlPW and called the number to speak to customer service. At this point it got a bit confusing, my last name has a non-standard format and I think the bank teller input some of my information incorrectly. So the first person I spoke to said they were still deciding, and after some circles updated my account. I called back and spoke to another person, who said I was denied. Elevated the call to find out what was wrong and after some more name confusion found out that I was denied mainly due to "obligations too high relative to income".

Yup so I think you were totally right about her debt affecting me (plus my high loans). I went ahead and had my sister remove me from her card but that took a bit of time, so now I am waiting for the July report.

I think I might give up on Chase cards for awhile - I seem to get the run around every time I try and do anything with the company. At this point I already had to make the early high value purchases I need, so I'll wait a month or two and re-apply for one of the many other reccomendations you all have been so kind to give me before I apply to residency. I'll keep updating when (if) I finally get a card.

Re: Recommendations for Cards with Benefits and 0% APR

FicoMike0 — Tue, 02 Jul 2024 19:09:52 GMT

You might look here

https://www.doctorofcredit.com/list-of-0-apr-credit-card-offers/

You have good scores, shouldn't have a problem. I just did USB connect visa, $500 sub for $2000 spend. It is a travel card with no af. They also paid me $500 sub for their checking. What's not to like?

Re: Recommendations for Cards with Benefits and 0% APR

Inearnest — Wed, 31 Jul 2024 17:23:33 GMT

Okay so a month later my scores went up significantly (right now carrying $7200 or 26% of my revolving credit as I had to make a few purchases for school expenses) and didn't pay my card down before the last report. It was maybe 10 points higher last month when my blance was much lower:

Fico 8

Experian 762

Exquifax 766

Transunion 771

Now still have to decide what I'm going to apply since I'm done being rejected by Chase

Re: Recommendations for Cards with Benefits and 0% APR

Inearnest — Wed, 31 Jul 2024 17:44:20 GMT

This link is super helpful! And seems very up to date. Thanks very much for sharing

Congrats on your USB! That sounds like a good card I'm gonna look into it.

Re: Recommendations for Cards with Benefits and 0% APR

FicoMike0 — Wed, 31 Jul 2024 21:20:06 GMT

They've dropped the su b to $200, not so good anymore. Take a look at doc, theyll have the current offers.