topic Re: How Do I Know Which Credit Card to Apply for? in Credit Cards

How Do I Know Which Credit Card to Apply for?

Anonymous — Tue, 02 Apr 2013 02:19:37 GMT

How Do I Know Which Credit Card to Apply for?

I'm in my 20s and have about $5,000 in credit card debt and my husband and I have 2 car loans we are paying on. Even though I enjoy my car, I feel like we could make more progress financially if we sold it now and could focus more on saving if we weren't paying so much on auto insurance and payments. I want to sell my car, but I need to make a $2,000 repair (it can ONLY be done through the dealership) for it to be in good working order and get the most money out of it. I've been trying to save the money but with all the demands on my income, I can't seem to make much progress very fast. Help!

Any suggestions on a credit card to apply for with a credit score in the 680s range that would have a limit that would help me make this repair and offer 0% so I can pay off the repair without it costing more than it would have in cash? (I am good at making regular payments-- I just have too many other things that are already accruing interest right now to not pay on them).

Re: How Do I Know Which Credit Card to Apply for?

dodfire — Tue, 02 Apr 2013 02:22:59 GMT

For the best advice more information is needed about your credit profile.

You say you have $5k in debt? How much credit do you have?

What cards? What limits?

What is your payment history?

Do you have negatives?

Re: How Do I Know Which Credit Card to Apply for?

09Lexie — Tue, 02 Apr 2013 02:23:24 GMT

More info on your credit profile please.

Re: How Do I Know Which Credit Card to Apply for?

Blurbz — Tue, 02 Apr 2013 02:23:50 GMT

I'm pretty sure that the Discover it card has 0% apr for a little while. Might look into that! People have had good success with them today here...

Re: How Do I Know Which Credit Card to Apply for?

LS2982 — Tue, 02 Apr 2013 02:24:16 GMT

@Anonymous wrote:
How Do I Know Which Credit Card to Apply for?

I'm in my 20s and have about $5,000 in credit card debt and my husband and I have 2 car loans we are paying on. Even though I enjoy my car, I feel like we could make more progress financially if we sold it now and could focus more on saving if we weren't paying so much on auto insurance and payments. I want to sell my car, but I need to make a $2,000 repair (it can ONLY be done through the dealership) for it to be in good working order and get the most money out of it. I've been trying to save the money but with all the demands on my income, I can't seem to make much progress very fast. Help!
Any suggestions on a credit card to apply for with a credit score in the 680s range that would have a limit that would help me make this repair and offer 0% so I can pay off the repair without it costing more than it would have in cash? (I am good at making regular payments-- I just have too many other things that are already accruing interest right now to not pay on them).

Welcome to the forums!!!!

Thats going to be hard to get a new account with that much debt, I would suggest Chase Slate. You will more than likely have to recon because it may instant deny. When speaking to the Chase rep. explain your situation and hopefully they will approve you.

Re: How Do I Know Which Credit Card to Apply for?

Open123 — Tue, 02 Apr 2013 02:29:26 GMT

Chase Freedom with 0% Promo? Or, Discover IT with 0% promo, but you run the risk of the dealership not taking it.

Re: How Do I Know Which Credit Card to Apply for?

Anonymous — Tue, 02 Apr 2013 02:31:24 GMT

I have a visa from credit union with $5000 limit. Zales card, Bonton store card, and GE Capitol Sam's card. $1,000/$700/$700 limits respectively. (I was conned into the zales card by an old lady, Sam's was first card, and Bonton gave us discount on suits for the wedding....)
Nothing negative on my profile. Other than that, student loan. I'm an RN. About to go back to school. Income is consistent but I've been paying all the bills myself bc Hubby is having rough time finding work.

Re: How Do I Know Which Credit Card to Apply for?

Anonymous — Tue, 02 Apr 2013 02:32:52 GMT

I guess if dealer doesn't take it I can always do balance transfer w visa and then use it

Re: How Do I Know Which Credit Card to Apply for?

Anonymous — Tue, 02 Apr 2013 02:36:57 GMT

Can I apply for 2 or 3 cards at the same time to see who makes the best offer? Will that hurt my credit score or will it be understood that I'm shopping around?

Re: How Do I Know Which Credit Card to Apply for?

Open123 — Tue, 02 Apr 2013 02:40:08 GMT

@Anonymous wrote:
Can I apply for 2 or 3 cards at the same time to see who makes the best offer? Will that hurt my credit score or will it be understood that I'm shopping around?

This is the course I would take, unless you have lots of inquiries the prior 12 months.

it will certainly reduce your score, especially if you don't have any recent inquiries. A new account will also reduce your score, but receiving a no interest loan to sell your car is far more important than your nominal score, in my view.

Re: How Do I Know Which Credit Card to Apply for?

09Lexie — Tue, 02 Apr 2013 02:46:35 GMT

If you have no baddies, you could also try Citi Diamond or Simplicity- they have a 0% intro period. Citi can be prickly with approvals though.

Re: How Do I Know Which Credit Card to Apply for?

Anonymous — Tue, 02 Apr 2013 03:57:24 GMT

WELL I just applied for the Discover Card after calling to talk to a person and getting very little information. I was accepted but it didn't offer a balance or confirm that I was accepting an offer! So now I'm being sent a card and I have no idea what my balance will be or if I even want it in the first place. How irritating! Guess I will find out whether this works out or not in a few days

Re: How Do I Know Which Credit Card to Apply for?

Anonymous — Tue, 02 Apr 2013 04:07:28 GMT

call and ask them it wont hurt to find out.

Re: How Do I Know Which Credit Card to Apply for?

Blurbz — Tue, 02 Apr 2013 04:22:32 GMT

It is definitely a nice card to have and a good company to be with.

I have to say that I'm a little confused about why you would apply for a card if you weren't sure that you wanted it. Credit cards aren't like personal loans: banks don't make you offers that you then choose to accept, you apply if you want their card on their terms and if you're approved, you get the card. You shop for terms before applying by researching the different cards and their terms.

Edit: but definitely call and find out what your credit limit is!

Re: How Do I Know Which Credit Card to Apply for?

L0RDAVENTAD0R — Tue, 02 Apr 2013 04:30:57 GMT

@Anonymous wrote:
How Do I Know Which Credit Card to Apply for?

I'm in my 20s and have about $5,000 in credit card debt and my husband and I have 2 car loans we are paying on. Even though I enjoy my car, I feel like we could make more progress financially if we sold it now and could focus more on saving if we weren't paying so much on auto insurance and payments. I want to sell my car, but I need to make a $2,000 repair (it can ONLY be done through the dealership) for it to be in good working order and get the most money out of it. I've been trying to save the money but with all the demands on my income, I can't seem to make much progress very fast. Help!
Any suggestions on a credit card to apply for with a credit score in the 680s range that would have a limit that would help me make this repair and offer 0% so I can pay off the repair without it costing more than it would have in cash? (I am good at making regular payments-- I just have too many other things that are already accruing interest right now to not pay on them).

Why can the repair, "only," be done at the dealership ? What kind of repair is it ?

Re: How Do I Know Which Credit Card to Apply for?

09Lexie — Tue, 02 Apr 2013 04:39:46 GMT

Congrats on your approval and welcome to the Discover family. I would call 1-800-DISCOVER and get your terms. I would heed the advice given thus far and use this card wisely.

Re: How Do I Know Which Credit Card to Apply for?

Anonymous — Tue, 02 Apr 2013 05:46:45 GMT

The credit limit is 4500, so no problem. I'm looking forward to selling my car so I can focus on saving!
Repair is a catalytic converter on a hybrid and we've looked into doing it elsewhere. Company will not release the parts to any one else (even hybrid certified mechanics) and they won't sell them to us bc evidentally special equipment is required and so on. No one can believe how much the repair costs! Not so expensive for other vehicles.

I know a credit card isn't a loan, but any other time I've been told a limit before accepting. No problems now tho! Thanks for the advice all.

Re: How Do I Know Which Credit Card to Apply for?

WarJar101 — Tue, 02 Apr 2013 05:52:32 GMT

@Anonymous wrote:
The credit limit is 4500, so no problem. I'm looking forward to selling my car so I can focus on saving!
Repair is a catalytic converter on a hybrid and we've looked into doing it elsewhere. Company will not release the parts to any one else (even hybrid certified mechanics) and they won't sell them to us bc evidentally special equipment is required and so on. No one can believe how much the repair costs! Not so expensive for other vehicles.

I know a credit card isn't a loan, but any other time I've been told a limit before accepting. No problems now tho! Thanks for the advice all.

Case in point, it's expensive as hell to go green, lol. Congrats on the limit, you almost hit the 5k barrier. I'm sure in 6 months you will get an autocli though with good usage. Cool beans you're a RN, I'm looking to get into nursing school myself in another 2 semesters of prereqs. And hopefully CRNA school in 2 yrs after that being employed. Good luck in your road to recovery!

Re: How Do I Know Which Credit Card to Apply for?

BearsAndTurtlesRtheBest — Tue, 02 Apr 2013 05:56:44 GMT

and at the end everyone is HAPPY Congrats!

Re: How Do I Know Which Credit Card to Apply for?

Anonymous — Tue, 02 Apr 2013 12:59:41 GMT

Congrats!