topic Re: Next Steps Part Deux: Do I really need another card right now? in Credit Cards

Next Steps Part Deux: Do I really need another card right now?

tatiana — Mon, 02 Nov 2009 02:59:00 GMT

Hi everyone! Last year I asked for advice regarding credit cards I should consider apping. Now that my credit history has progressed a bit, and the credit industry has changed, I'd like to repose the question.

As it stands, I'm very Chase-heavy. I do the bulk of my checking with them and have been a credit card customer since 2002. So far, they've been pretty good to me, but as both my major bankcards are now with Chase, I'm reluctant to leave "all my eggs in one basket," as it were.

Here's where I stand right now:

- Chase Freedom MC $15,000 CL 12.24% apr purchases/19.24% for cash

- Chase generic rewards MC $1000 16.24% for purchases and 19.24% for cash (You may recall that this card is one of those strange "no conversion" cards - I couldn't PC it last spring when they converted the other account to Freedom...at any rate, I rarely use this card. Chase just ratejacked it from 9.99 for purchases for that fact, probably; however, they also DECREASED the original cash rate, which was like 23% - odd, no?).

- GeMB Chevron $2000

- Macy*s DSNB $1200

- Car loan, over 1/2 paid
- See my sig for credit scores and BK info.

When we last discussed this issue, people recommended credit union cards. I'm not sure which credit unions I'm even eligible for, what the investment requirements might be for membership, or which are considered the best values. Suggestions? The local edu CU is technically an option (I teach college), but it seems like the majority of their credit card products are cobranded with BofA. That's a problem for me.

BofA, Discover, and AMEX are out until 2012 because of the BK. BofA and Discover are very likely extra angry with me because they (well, Discover and MBNA) were the only two creditors IIB. I recently realized that I hadn't included Citi in the BK - I paid them off and then closed the card. Are they touchy about BKs?I know they're fragile right now, but I was a good customer.

Juniper hits me hard with offers on a weekly basis. Originally, their offers involved 7.99% APRs. Now we're looking at *17.99* APRs, which seems a bit high, considering what I've got on my Chase Freedom. I know that "good" rates aren't what they used to be, but given Juny's spotty reputation, I'm hesitant. Think it might be worth it for a backup card?

Thanks!

Re: Next Steps Part Deux: Do I really need another card right now?

wmarat — Mon, 02 Nov 2009 03:26:21 GMT

http://credituniondeals.blogspot.com/2007/07/credit-unions-that-anyone-can-become.html

https://www.juniper.com/app/japply/WebAppGate.jsp

http://about.nordstrom.com/nordstromfashionrewards/#bank_1

https://apply.gotomycard.com/Default.aspx

Message Edited by wmarat on 11-01-2009 07:26 PM

Re: Next Steps Part Deux: Do I really need another card right now?

Anonymous — Mon, 02 Nov 2009 04:47:35 GMT

@tatiana wrote:
Hi everyone! Last year I asked for advice regarding credit cards I should consider apping. Now that my credit history has progressed a bit, and the credit industry has changed, I'd like to repose the question.

As it stands, I'm very Chase-heavy. I do the bulk of my checking with them and have been a credit card customer since 2002. So far, they've been pretty good to me, but as both my major bankcards are now with Chase, I'm reluctant to leave "all my eggs in one basket," as it were.

Here's where I stand right now:

- Chase Freedom MC $15,000 CL 12.24% apr purchases/19.24% for cash
- Chase generic rewards MC $1000 16.24% for purchases and 19.24% for cash (You may recall that this card is one of those strange "no conversion" cards - I couldn't PC it last spring when they converted the other account to Freedom...at any rate, I rarely use this card. Chase just ratejacked it from 9.99 for purchases for that fact, probably; however, they also DECREASED the original cash rate, which was like 23% - odd, no?).
- GeMB Chevron $2000
- Macy*s DSNB $1200
- Car loan, over 1/2 paid
- See my sig for credit scores and BK info.

When we last discussed this issue, people recommended credit union cards. I'm not sure which credit unions I'm even eligible for, what the investment requirements might be for membership, or which are considered the best values. Suggestions? The local edu CU is technically an option (I teach college), but it seems like the majority of their credit card products are cobranded with BofA. That's a problem for me.

BofA, Discover, and AMEX are out until 2012 because of the BK. BofA and Discover are very likely extra angry with me because they (well, Discover and MBNA) were the only two creditors IIB. I recently realized that I hadn't included Citi in the BK - I paid them off and then closed the card. Are they touchy about BKs?I know they're fragile right now, but I was a good customer.

Juniper hits me hard with offers on a weekly basis. Originally, their offers involved 7.99% APRs. Now we're looking at *17.99* APRs, which seems a bit high, considering what I've got on my Chase Freedom. I know that "good" rates aren't what they used to be, but given Juny's spotty reputation, I'm hesitant. Think it might be worth it for a backup card?

Thanks!

I think a CU card is a great idea, especially in light of your heavy reliance on Chase.

A few good CUs are Alliant (easy to qualify-- PTA Membership), or Addison Avenue (similarly easy to qualify). Alliant pulls EQ and Addison pulls EX. May people recommend NFCU, but that does require strict membership qualifications.

Good luck and keep us posted

Re: Next Steps Part Deux: Do I really need another card right now?

Anonymous — Mon, 02 Nov 2009 10:51:59 GMT

@wmarat wrote:
https://apply.gotomycard.com/Default.aspx
Message Edited by wmarat on 11-01-2009 07:26 PM

wmarat - your Town North Bank has a nifty family card - are you thinking they're BK friendly? I'm not familiar with them - and that sure looks like a neat card.

Re: Next Steps Part Deux: Do I really need another card right now?

wmarat — Tue, 03 Nov 2009 03:20:08 GMT

My local CU issues credit cards via TNB. There is not much info about this lender. WGMC does not list TNB at all. Another database shows 7 entries, all TU pull, 6 approved, 2 out of 6 approved application showed negative info such as CA, CO and foreclosure. Check your PM, I am sending you link.

Re: Next Steps Part Deux: Do I really need another card right now?

tatiana — Sun, 08 Nov 2009 06:33:51 GMT

Thanks for the replies, guys!

Re: Next Steps Part Deux: Do I really need another card right now?

tatiana — Tue, 06 Apr 2010 01:35:14 GMT

I forgot about this thread. Anyway, an update...I got two Discover More preapprovals this spring. I apped and GOT THE CARD!