topic Re: What card should I go for? in Credit Cards

What card should I go for?

Anonymous — Mon, 25 Mar 2013 19:47:27 GMT

So, the good news is with the help of these forums over the last 8 months I will be closing on my first home on Thursday!

I plan to add one card to my wallet to continue rebuilding and I'm wondering what is my best option. My current scores are in my sig. EX is lender pull from Feb 6 and TU and EQ are pulled from here today. My most recent late was 2.8 years ago. I currently have 2 car loans, one 2.5 years old with no lates and 2 Cap 1 cards. One I have had since July 2012 and one since October 2012. Both have limits of $500 and I PIF every month but keep $80 so my util is at 8% (I have heard that is the sweet spot for util).

I do have some charge offs from 2008 (3 all for small amounts) and 2 released tax liens showing on my report.

Income is at $128,000 and total DTI right now is 6%, will be 30% once my mortgage reports.

Inquiries are high but they are mostly from rate shopping for a car loan in October and multiple pulls from the lender for my mortgage. Funny thing is when I run my FICO from here vs. the FAKO from TU and EQ the FICO pull here shows very few inquiries, much lower than the pull from the actual TU and EQ sites.

I'd like to get a card with at least a $2,000 limit. Rewards would be good but are secondary to building credit. Would love Southwest Visa but I suspect I'd be jumping the gun going for Chase right now. Discover IT also looks appealing but thinking that may be over my head right now as well. I'm consider the Barclay NFL Visa (Saints version). Ultimately I just want the best "next" card in my rebuilding efforts.

Any advice will be greatly appreciated!

Re: What card should I go for?

Anonymous — Mon, 25 Mar 2013 20:28:11 GMT

I would try the Chase Freedom. Even if you do get declined, Chase is usually very generous with recons.

Good luck and be sure to let us know how it pans out!

Re: What card should I go for?

Anonymous — Mon, 25 Mar 2013 20:36:32 GMT

Congrats on closing Thursday! Whatever you decide, be sure to apply before your new mortgage starts reporting. I love the Chase Freedom that I was approved for after recon.

Re: What card should I go for?

Anonymous — Mon, 25 Mar 2013 20:39:25 GMT

Wow, Chase Freedom? I though Chase was a hard nut to crack. I figured I was easily another year away from going after Chase. I've always recieved great advice from here however so if you all say that's the way to go I'll go for it!

After reading one of the USAA threads I was wondering if I shouldn't try them. I'm a veteran so I think I can become a full member although I'm not sure exactly how to do it.

Re: What card should I go for?

Anonymous — Mon, 25 Mar 2013 20:44:32 GMT

I think you have a good chance for the Freedom and if denied, recon. If you get the 7-10 day or 30 day message, call the back door number and they will let you know what is pending.

You also have a great chance for a great limit through USAA or NFCU. I think you just apply for an account online after you join, which is probably on their website too.

Re: What card should I go for?

Anonymous — Mon, 25 Mar 2013 20:46:08 GMT

you should forget credit card / apply debit card and used debit card

Re: What card should I go for?

Anonymous — Mon, 25 Mar 2013 20:48:30 GMT

Thanks MF. I don't think I can go NFCU since I'm a veteran not active duty but I do think I can go USAA. I'm wondering if I don't have a chance for a better CL with USAA than Chase.

Re: What card should I go for?

Anonymous — Mon, 25 Mar 2013 20:49:27 GMT

Could you hold out until July before apping?

That way your Cap1 cc is reporting a whole year old when you get pulled.

Are you a member of any CUs? You could always try a CU cc as well.

Re: What card should I go for?

Anonymous — Mon, 25 Mar 2013 20:51:16 GMT

Most folks rarely use a debit card around here. Lol

OP, I think you have a better chance for a higher limit with USAA than Chase but Chase will grow with time.

Re: What card should I go for?

Anonymous — Mon, 25 Mar 2013 21:09:23 GMT

Are you serious ???/what does USAA pull ? Them are ususally give hight credit ????? Thanks

Re: What card should I go for?

Anonymous — Fri, 29 Mar 2013 19:00:37 GMT

Well applied for the Chase Freedom and was denied. Called for recon and she was very nice. It seemed she was on the verge of giving it to me but she stopped just short and said I didn't have enough history. I probably should have waited until the cap 1 card was past 1 year.

Back to the drawing board....

Re: What card should I go for?

blk8 — Fri, 29 Mar 2013 19:37:04 GMT

Im curious what your history is.... do you mean AAoA or just credit card history in general?

Re: What card should I go for?

Anonymous — Fri, 29 Mar 2013 19:44:28 GMT

I posted my credit profile in my original post. In short they said I'm on the right path but I didn't have my revolving accounts (my two cap one cards) long enough yet.

Re: What card should I go for?

Anonymous — Fri, 29 Mar 2013 19:49:12 GMT

@Anonymous wrote:
Thanks MF. I don't think I can go NFCU since I'm a veteran not active duty but I do think I can go USAA. I'm wondering if I don't have a chance for a better CL with USAA than Chase.

I agree with you on usaa. You can go to thier website and join. It is painless and their cust service is very helpful and friendly.

Re: What card should I go for?

LosAngeles — Fri, 29 Mar 2013 20:01:28 GMT

Are you going to apply for any other cards before the inquiry hits your report?

Re: What card should I go for?

Anonymous — Fri, 29 Mar 2013 20:14:56 GMT

I tried Discover IT. Same results. I don't want to rack up a bunch of INQ so unless someone has an idea for something they feel good I'll be approved for I plan to sit on what I have for a while.

Re: What card should I go for?

webhopper — Fri, 29 Mar 2013 20:43:34 GMT

@Anonymous wrote:
Well applied for the Chase Freedom and was denied. Called for recon and she was very nice. It seemed she was on the verge of giving it to me but she stopped just short and said I didn't have enough history. I probably should have waited until the cap 1 card was past 1 year.

Back to the drawing board....

Recon again...

Try at least 2 more times before giving up... mention your long employement history, ability to save, etc...

Re: What card should I go for?

webhopper — Fri, 29 Mar 2013 20:44:20 GMT

Other than than those, Maybe try Amex Green.

Re: What card should I go for?

HiLine — Fri, 29 Mar 2013 20:55:36 GMT

@webhopper wrote:
@Anonymous wrote:
Well applied for the Chase Freedom and was denied. Called for recon and she was very nice. It seemed she was on the verge of giving it to me but she stopped just short and said I didn't have enough history. I probably should have waited until the cap 1 card was past 1 year.

Back to the drawing board....
Recon again...
Try at least 2 more times before giving up... mention your long employement history, ability to save, etc...

If that fails, try 3 more times!

Then do the same thing for Discover It ...

Re: What card should I go for?

Anonymous — Fri, 29 Mar 2013 21:46:35 GMT

I would try to recon with Chase a couple more times. There has been someone here that did get approved on the 3rd try. If that fails, sit tight for 6 months and then try again.