topic Re: Diversification? in Credit Cards

Diversification?

ccsauer — Fri, 11 Jan 2008 15:10:28 GMT

Ok, so, I have 2 mastercards and a Visa, and I am looking to get a 4th card. Would it behoove me to get a Discover card or an Amex? Or does it matter if i just, say, get another Visa?

Any pros/cons?

Re: Diversification?

Anonymous — Fri, 11 Jan 2008 16:05:15 GMT

What are your goals? What are you trying to accomplish?

Score? UTL?Rewards?

Re: Diversification?

ccsauer — Fri, 11 Jan 2008 16:16:02 GMT

Oh, I'm sorry. No info! Heh

Ok: My scores are currently in the low 700's. Last I checked, which was 2 months ago, I was at 714, 725, 740 for experian, equifax, TU

My goal for getting a new card would be that my 0% on my current card is running out and I have not quite rid myself of the debt in that card.

My concern is that if I just go with a visa or MC, i could be missing out on raising my score by instead going with Discover or AmEx, but I have no idea if that even matters.

I would, if possible, like cash back rewards or something, too.

Oh, I also want a larger credit limit, 8-10,000 or so

Thanks!

Re: Diversification?

Anonymous — Fri, 11 Jan 2008 16:59:24 GMT

I don't revolve balances- so I hope someone can chime in with the latest 0% APR offers going around-

Rewards and BT's don't mix too well as the payment goes to the lowest APR first- so a purchase kills the BT offer.

ccsauer wrote:
Oh, I'm sorry. No info! Heh

Ok: My scores are currently in the low 700's. Last I checked, which was 2 months ago, I was at 714, 725, 740 for experian, equifax, TU

My goal for getting a new card would be that my 0% on my current card is running out and I have not quite rid myself of the debt in that card.

My concern is that if I just go with a visa or MC, i could be missing out on raising my score by instead going with Discover or AmEx, but I have no idea if that even matters.

I would, if possible, like cash back rewards or something, too.

Oh, I also want a larger credit limit, 8-10,000 or so

Thanks!

Re: Diversification?

Anonymous — Fri, 11 Jan 2008 19:27:21 GMT

Citi is offering a 0% BT for a year right now, downside they charge a 3% BT fee. I think Wamu has 0% offer, but they don't have an onine application on there site anymore. I am sure Cap 1 or Chase has them also, check there sites. Hope that helps!

Re: Diversification?

ccsauer — Fri, 11 Jan 2008 19:42:32 GMT

Look, my question was not what kind of cards are out there and what should I get, I was just asking if getting a discover or amex card would help my credit in the long run rather than getting another visa or MC. Anyone know?

Re: Diversification?

fused — Fri, 11 Jan 2008 23:20:15 GMT

ccsauer wrote:
Look, my question was not what kind of cards are out there and what should I get, I was just asking if getting a discover or amex card would help my credit in the long run rather than getting another visa or MC. Anyone know?

There is absolutely no difference in FICO scoring between Amex, Discover, MC and Visa. All four are major cards and they are treated/scored equally. Store/gas cards are given less weight in scoring, however.