topic Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards. in Credit Cards

Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

thorjo1984 — Wed, 21 Dec 2011 19:34:37 GMT

Hello. I was looking to get a new credit card (or charge card) and was not sure which one would be the best for my situation. I currently have a Bank of America Rewards Platinum Plus with a limit of $5,000 which I pay off in full every month. I also have a Target card but I don't use it anymore. Here is some of my financial information.

Credit Score: 854

Anual Income: $45,000. This may soon increase to $60,000 as I take a new position at my work.

Amount charged on card monthly: $1200-$2000

I owe $2,800 on a motorcycle which I bought 18 months ago for $12,000 but have no other debt. I purchased a car in 2006 and got a loan for $19,000 which is paid off.

I don't do a lot of travelling, so I would benefit more from cards that offer gift cards or cash back.

I will be paying my balance off in full every month.

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

CS800 — Wed, 21 Dec 2011 19:42:29 GMT

@thorjo1984 wrote:
Hello. I was looking to get a new credit card (or charge card) and was not sure which one would be the best for my situation. I currently have a Bank of America Rewards Platinum Plus with a limit of $5,000 which I pay off in full every month. I also have a Target card but I don't use it anymore. Here is some of my financial information.

Credit Score: 854
Anual Income: $45,000. This may soon increase to $60,000 as I take a new position at my work.
Amount charged on card monthly: $1200-$2000

I owe $2,800 on a motorcycle which I bought 18 months ago for $12,000 but have no other debt. I purchased a car in 2006 and got a loan for $19,000 which is paid off.

I don't do a lot of travelling, so I would benefit more from cards that offer gift cards or cash back.

I will be paying my balance off in full every month.

Welcome to the Forums.

Where did you get your score and what bureau is it (Experian, Equifax and Tranunion)? Reason why I asked is that FICO scores range from 300-850 and yours is 854. It seems that you ahve a what we call FAKO which can be termed (depending where you buy it) Vantage, Plus Score etc..

How old are you existing credit cards (their age).

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

Anonymous — Wed, 21 Dec 2011 19:41:19 GMT

What are your spending habits?

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

Anonymous — Wed, 21 Dec 2011 19:41:28 GMT

Score of 854?? Is this a FAKO score? The highest FICO score is 850, Vantage goes to 990. This does make a difference.

What is your AAoA? How many inquiries do you have?

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

thorjo1984 — Wed, 21 Dec 2011 19:48:17 GMT

Thanks for the reply. 854 is the average from my TransUnion, Experian, and Equifax scores. I got the scores from TrueCredit which is owned by TransUnion. I have had my Bank of America card for 4 years and my Target card for 5 years. I am not sure what my FICO score is, maybe I'll give the free trial a go.

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

Anonymous — Wed, 21 Dec 2011 19:50:14 GMT

@thorjo1984 wrote:
Thanks for the reply. 854 is the average from my TransUnion, Experian, and Equifax scores. I got the scores from TrueCredit which is owned by TransUnion. I have had my Bank of America card for 4 years and my Target card for 5 years. I am not sure what my FICO score is, maybe I'll give the free trial a go.

Please give us the scores individually. Creditors usually only pull one report (minus Cap One which sometimes pulls all three and AmEx may pull two).

Also, which Bank of America card do you have and whats the limit on both cards?

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

CS800 — Wed, 21 Dec 2011 19:59:13 GMT

@thorjo1984 wrote:
Thanks for the reply. 854 is the average from my TransUnion, Experian, and Equifax scores. I got the scores from TrueCredit which is owned by TransUnion. I have had my Bank of America card for 4 years and my Target card for 5 years. I am not sure what my FICO score is, maybe I'll give the free trial a go.

Those scores are practically useless. Like you said get teh free trial on myfico and that will give you your score. You won't be able to get your Experian score anywhere apart from a lender or a credit union in PA.

Once we see your true FICO, the folks on here will be able to steer you towards a card.

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

thorjo1984 — Wed, 21 Dec 2011 20:00:46 GMT

TransUnion 854, Experian 853, Equifax 854.

I have the Bank of America BankAmericard Rewards Platinum Plus with a $5,000 limit.

I have the Target Visa with a $500 limit (used to be $5,000 but I stopped using it when I got my Bank of America card)

I have had 2 inquiries in the past 2 years. 1 for a loan on my motorcycle 18 months ago, and another for when I applied to rent my current residence 3 months ago.

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

MarineVietVet — Wed, 21 Dec 2011 20:04:05 GMT

@thorjo1984 wrote:
TransUnion 854, Experian 853, Equifax 854.

I have the Bank of America BankAmericard Rewards Platinum Plus with a $5,000 limit.
I have the Target Visa with a $500 limit (used to be $5,000 but I stopped using it when I got my Bank of America card)

I have had 2 inquiries in the past 2 years. 1 for a loan on my motorcycle 18 months ago, and another for when I applied to rent my current residence 3 months ago.

Welcome to myFICO.

I will confirm that none of those are FICO scores. Transunion sells what are called VantageScores and although a few lenders use the VS it's still not very reliable.

No one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU (PSECU) in Pennsylvania that supplies that information to it's members only. You can only buy true FICO scores at a few places. One place is here at myFICO.

At one time you could also purchase your Transunion score at transunioncs.com but no more. Wal Mart now offers a TU08 score to those who have their store card and the Discover version.

Equifax will still sell you a FICO score found here: www.equifax.com/web-myfico-products/

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

Anonymous — Wed, 21 Dec 2011 20:11:52 GMT

I'm going to estimate your FICO score at high-600s low 700s (Based on the information you gave us). But again, best to get your score here at MyFico.

If you like paying in full and want Cash Back or Gift cards.. Depending on how much you spend, I'd say try for a Chase Freedom or Discover More card, or an AmEx Green (or Gold if you spend alot)

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

quest208 — Wed, 21 Dec 2011 20:20:14 GMT

@Anonymous wrote:
I'm going to estimate your FICO score at high-600s low 700s (Based on the information you gave us). But again, best to get your score here at MyFico.

If you like paying in full and want Cash Back or Gift cards.. Depending on how much you spend, I'd say try for a Chase Freedom or Discover More card, or an AmEx Green (or Gold if you spend alot)

ouch! i'd be checking my myfico asap.

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

Anonymous — Wed, 21 Dec 2011 20:21:38 GMT

*shrug* Its a very harsh estimate but I'd prefer that he find out its actually higher or around the same as my estimate than lower.

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

CS800 — Wed, 21 Dec 2011 20:21:56 GMT

With those FAKOs, I would guess mid to high 700's FICO's

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

Anonymous — Wed, 21 Dec 2011 20:24:42 GMT

I have no idea how comparable VS is to a FICO, but if it weighs the same factors. . . . 854/990 = X/850, OR X = 733

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

Anonymous — Wed, 21 Dec 2011 20:26:13 GMT

@Anonymous wrote:
I have no idea how comparable VS is to a FICO, but if it weighs the same factors. . . . 854/990 = X/850, OR X = 733

If there was a direct comparison then there'd be no point to getting your FICO score.

But you never know I guess.

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

my25reasons — Wed, 21 Dec 2011 21:12:59 GMT

I was wondering how that works.

My Fako scores are

TrueCredit TU 703

Discover monitoring (through experian direct) EX - 717 EQ- 721 TU - 717

Eq Fico is 762.

I'm interested to see what the Fico for OP is now.

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

MarineVietVet — Wed, 21 Dec 2011 21:09:56 GMT

@Anonymous wrote:
I have no idea how comparable VS is to a FICO, but if it weighs the same factors. . . . 854/990 = X/850, OR X = 733

But it doesn't weigh factors the same so trying to compare any FAKO score to a FICO score is impossible. There is no formula to translate one to the other.

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

Anonymous — Wed, 21 Dec 2011 21:15:05 GMT

Oh I know they don't weigh the same factors, that post was really just for a fun estimate. Curious to see what FICO it really translates into. . .

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

tntexans72 — Thu, 22 Dec 2011 01:33:36 GMT

@Anonymous wrote:
*shrug* Its a very harsh estimate but I'd prefer that he find out its actually higher or around the same as my estimate than lower.

While I think it's around there....maybe higher.....But what's more important is his credit profile, it's definitely excellent.

I think if you were to choose a Chase or Amex as your next card, they will give you a very generous starting CL...most likely higher than the $5k you have now to maybe 10k or maybe higher imo and you could pretty much can pick which card you want from those 2 banks mentioned. If you decide you want a rewards card from Chase and Amex too....I think you would definitely be approved for both at the same time. I would get with Amex than Chase asap imo....better in 2011 than 2012 for AAoA benefits down the road... sooner rather than later if you know what I mean

Re: Recommend a Credit Card. Excellent Credit. Pay in full every month. Cash back or Gift Cards.

scottwagnon — Thu, 22 Dec 2011 01:44:28 GMT

@thorjo1984 wrote:
Thanks for the reply. 854 is the average from my TransUnion, Experian, and Equifax scores. I got the scores from TrueCredit which is owned by TransUnion. I have had my Bank of America card for 4 years and my Target card for 5 years. I am not sure what my FICO score is, maybe I'll give the free trial a go.

854 is a vantage score. this would be most similar to someone with a FICO range of 755 to 765.