topic Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash in Credit Cards

Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

Anonymous — Fri, 28 Feb 2014 20:24:20 GMT

I had a question as to which one of the following cards should I apply to:

1. Amex Blue Cash Rewards

2. Discover IT (received a pre-approval via mail)

3. Capitol One Quicksilver One Cash Rewards (pre-approved online)

I'm only going to be applying to one of these cards as I do not want too many inquiries. As it stands, I currently have four inquiries on experian, one inquiry on equifax, and I am unsure about transunion but don't believe I have any. I have a limited credit history with only a single revolving secured credit card with my local credit union with a $500 limit. I have had it for six months now and have made each and every payment on time. My credit utilization has almost always been below 10% but it does say my high balance was $257 which I believe was early on but did pay it off.

I also have student loans that I have been paying off for the past 9 months. Before then I did not have to make a payment but since one of the loans was opened in 02/11, the other 08/11, it says that I have been in good standing each month. My student loans total about $10,000.

Because of my student loans and that it says it has been in good standing since 2011, my average age of accounts is 2 years with the oldest account being 3 and the newest account being 6-7 months.

My credit scores are as follows:

Experian - 720 (it was 600 in 6/2011, has been steadily increasing)

Equifax FICO score - 724

Transunion Vantage Score - 733 (C-level)

On FICO score watch it says the following about me:

Your FICO score may have gone up because the following 4 factors are not hurting your FICO score as much as before:

You have a short credit history.
The balances on your non-mortgage credit accounts are too high.
You have not established a long revolving credit history.
You've recently been looking for credit.

Which of these three cards do you think I have the highest chance of receiving. My ideal choice would obviously be the AMEX Blue Cash, then Discover IT, then Quicksilver One Cash. I know that since I have a limited history and not much revolving credit I can't be too picky. And as I said, I really do not want any more hard pulls being done without getting approved for a credit card.

Any input would be appreciated!

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

gdale6 — Fri, 28 Feb 2014 20:39:04 GMT

Discover IT is the one I would go for

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

Kenny — Fri, 28 Feb 2014 20:44:58 GMT

I would try for both Amex and Discover -- the Cap 1 would be a triple pull, I believe -- so if you decide to go for that one do that one last I think.

Discover pulled EQ or TU for me, I think.. not sure. We know Amex is a guaranteed EX, but possibly more depending on how borderline you are -- it might be more than one.

I say, it's OK right now you have to get your foot in the door so if that means racking up a couple of HPs that's ok you can garden them off!

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

cottoncrown — Fri, 28 Feb 2014 20:54:26 GMT

Go for amex. Discover will probly approve you at 22.99% APR at 750 or 1000cl. The will also do hard pulls for credit increases down the line. Amex is really good about APR reductions and will give you sp CLI in the near future which will help you towards getting larger approval lines in the future. I really don't think discover is that great of a card anymore, I don't like the revolving categories. Also, the cap one card looks like a cardboard gift card, and the discover it is also horrible looking, it has the account number and your name pasted on with a sticker. Go for amex, you likely get a 1000cl and that will increase like crazy owe the next year. Some people have also had success with having the APR reduced on that card to 9.99.

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

cottoncrown — Fri, 28 Feb 2014 20:55:34 GMT

Also I should add that my wife was approved for BCE 2k CL with only a 500 CL card reported to the bureaus

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

Jeff007245 — Fri, 28 Feb 2014 20:58:41 GMT

Discover and the soon to be Unicorn Amex Blue Cash. Discover will most likely pull TU and if not TU their second choice is EQ. AMEX will pull EX and the Blue Cash will grow with your income. The Quicksilver One, I would not apply for, it pulls all three bureaus and it has an annual fee.

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

Anonymous — Fri, 28 Feb 2014 21:11:05 GMT

Thanks for all the quick and great responses! I really appreciate it. Since I started learning about credit about six months ago I have learned a lot.

I did not know the Quicksilver One pulls from all three credit bureaus. That isn't good. I only listed that as a back-up as I'm fairly confident I will get approved.

As most of you are stating, I fully agree with AMEX Blue Cash is the best credit card on this list. That is the one I want. Do you think I will get approved? I'm just hesitant on not getting approved and having to try again with lets say Discover IT. I feel that even though my credit score is alright, my limited history and lack of revolving credit hurts me a ton. Especially with 4 hard pulls on my Experian, the last being in December.

The last thing I want to do is have 2-3 hard pulls being done and not getting approved for any. I just heard AMEX Blue can be hard to qualify for. Or is there another card out there that you think I would get approved for and gives decent rewards. As I've said previously, I know I can't be picky.

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

Anonymous — Fri, 28 Feb 2014 21:15:05 GMT

I also did not know that for credit increases down the line that Discover does a hard pull. That almost makes me not want to get a card with them.

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

09Lexie — Fri, 28 Feb 2014 21:21:03 GMT

@Anonymous wrote:
I also did not know that for credit increases down the line that Discover does a hard pull. That almost makes me not want to get a card with them.

That's incorrect. Discover first tries to approve on a SP and if they cannot will ask if you want a hp.

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

-NewGuy- — Fri, 28 Feb 2014 21:22:19 GMT

@Anonymous wrote:
I also did not know that for credit increases down the line that Discover does a hard pull. That almost makes me not want to get a card with them.

So does Chase if it's customer initiated.

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

Kenny — Fri, 28 Feb 2014 21:25:51 GMT

Sean, there aren't MANY cards out there that a CLI isn't a HP --- it's obtaining new credit. Don't let that deter you from actually applying for a card that will help you with your credit goals and is a GOOD card.

Yes, I think you should app for the Amex -- it's good to get your MSD started and it's also a good card if you spend a lot (greater than 6.5k/year on it.) the 5% kicks in then.. but otherwise it's just as good as the Freedom with 1% on everything I believe. I have this card, and I'm glad I have gotten it before it's gone.

(The general Blue Cash -- I also Have Blue Cash Everyday which I like, as well.)

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

Built2last — Fri, 28 Feb 2014 21:40:50 GMT

I actually have all three cards you mentioned and would personally rank them 1. Amex 2. Discover and 3. Capital one

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

Anonymous — Fri, 28 Feb 2014 21:42:45 GMT

I keep learning new things. I actually applied for the Chase Freedom back in June when I had lousy credit and didn't know what I was doing. I was obviously declined.

It's good to be aware that you need to make sure that when you ask for a credit limit increase that it is only a soft pull.

And I was referring to the Blue Cash Everyday as I believe it is easier to get then the Preferred Blue Cash. I also like that there isn't an annual fee as I don't know if I'll be spending a ton of money on it to make it worth while.

The other thing I was thinking about was that I could wait an additional month or two to ensure I will get accepted for the AMEX Everyday blue. Or should I just apply now?

Thanks again for all the responses, I'm leaning towards applying for the AMEX Everyday Blue in the next few days.

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

cottoncrown — Fri, 28 Feb 2014 22:10:45 GMT

We'll let me clarify what I wrote earlier as it was misleading. Discover does do soft pull increases but given your limited history, you will get a low starting limit and to expect anything other than maybe a 500cl increase I'm almost certain it will be a hard pull. I got mine from 750cl to 10k in six months but I took three hp from discover.

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

Anonymous — Fri, 28 Feb 2014 22:23:58 GMT

@Anonymous wrote:
I keep learning new things. I actually applied for the Chase Freedom back in June when I had lousy credit and didn't know what I was doing. I was obviously declined.

It's good to be aware that you need to make sure that when you ask for a credit limit increase that it is only a soft pull.

And I was referring to the Blue Cash Everyday as I believe it is easier to get then the Preferred Blue Cash. I also like that there isn't an annual fee as I don't know if I'll be spending a ton of money on it to make it worth while.

The other thing I was thinking about was that I could wait an additional month or two to ensure I will get accepted for the AMEX Everyday blue. Or should I just apply now?

Thanks again for all the responses, I'm leaning towards applying for the AMEX Everyday Blue in the next few days.

Yes, there are three "Blue Cash" cards. The Blue Cash Preferred, Blue Cash Everyday and Blue Cash (aka Old Blue Cash).

BTW, as far as anyone here knows, the Preferred and Everyday have the same underwriting, so it is not harder to get, just a question of whether the AF is worth it.

And if you are willing to expand, the Sallie Mae is for many a MUCH better card than the Everyday from the rewards perspective, which (IMO) really doesn't have a niche anymore, except as way to get the first Amex card.

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

VirtualCuriosity — Sat, 01 Mar 2014 00:39:38 GMT

@Jeff007245 wrote:
Discover and the soon to be Unicorn Amex Blue Cash. Discover will most likely pull TU and if not TU their second choice is EQ. AMEX will pull EX and the Blue Cash will grow with your income. The Quicksilver One, I would not apply for, it pulls all three bureaus and it has an annual fee.

Whoa, whoa, whoa..... What the what? Do tell what this means please. Do you mean they are going to stop issuing this card? I have been coveting this card for some time and won't be in best position to app until May-July.

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

Jeff007245 — Sat, 01 Mar 2014 02:20:34 GMT

@VirtualCuriosity wrote:
@Jeff007245 wrote:
Discover and the soon to be Unicorn Amex Blue Cash. Discover will most likely pull TU and if not TU their second choice is EQ. AMEX will pull EX and the Blue Cash will grow with your income. The Quicksilver One, I would not apply for, it pulls all three bureaus and it has an annual fee.
Whoa, whoa, whoa..... What the what? Do tell what this means please. Do you mean they are going to stop issuing this card? I have been coveting this card for some time and won't be in best position to app until May-July.

It's no longer being marketed or even recommended. We are fortunate that the hidden application page is still active to be able to apply. AMEX has already replaced this card with the BCE and BCP cards. Both great cards, but both run out of gas after 6k spent on capped categories. Unfortunately, for aspiring applicants, the total disappearance of the Traditional Blue Cash card (which has unlimited potential past 6.5k spent) is inevitable.

As a matter of when?... who knows.... But I wouldn't take my chances to miss out on one of the greatest cards in the market to have ever existed.

BCE - No Fee

Groceries - 3% < $6,000

Gas - 2%

Department Sores - 2%

Drug Store - 1%

BCP - $75 Fee

Groceries - 6% < $6,000

Gas - 3%

Department Sores - 3%

Drug Store - 1%

BC (Old Blue) - No Fee

Groceries - 5% > $6,500 1% < $6,500

Gas - 5%> $6,500 1% < $6,500

Department Sores - 1% > $6,500 or .05% < $6,500

Drug Store - 5% > $6,500 or 1% < $6,500

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

Anonymous — Sat, 01 Mar 2014 02:28:51 GMT

@Jeff007245 wrote:

It's no longer being marketed or even recommended. We are fortunate that the hidden application page is still active to be able to apply. AMEX has already replaced this card with the BCE and BCP cards. Both great cards, but both run out of gas after 6k spent on capped categories. Unfortunately, for aspiring applicants, the total disappearance of the Traditional Blue Cash card (which has unlimited potential past 6.5k spent) is inevitable.

As a matter of when?... who knows.... But I wouldn't take my chances to miss out on one of the greatest cards in the market to have ever existed.

I don't know, it'sbeen around quite a while. My concern is more that it will go the way of the BCP and get caps put on it, greatly decreasing (aka ruining) the value even for those that have it now.

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

VirtualCuriosity — Sat, 01 Mar 2014 03:10:07 GMT

@Jeff007245 wrote:
@VirtualCuriosity wrote:
@Jeff007245 wrote:
Discover and the soon to be Unicorn Amex Blue Cash. Discover will most likely pull TU and if not TU their second choice is EQ. AMEX will pull EX and the Blue Cash will grow with your income. The Quicksilver One, I would not apply for, it pulls all three bureaus and it has an annual fee.
Whoa, whoa, whoa..... What the what? Do tell what this means please. Do you mean they are going to stop issuing this card? I have been coveting this card for some time and won't be in best position to app until May-July.
It's no longer being marketed or even recommended. We are fortunate that the hidden application page is still active to be able to apply. AMEX has already replaced this card with the BCE and BCP cards. Both great cards, but both run out of gas after 6k spent on capped categories. Unfortunately, for aspiring applicants, the total disappearance of the Traditional Blue Cash card (which has unlimited potential past 6.5k spent) is inevitable.

As a matter of when?... who knows.... But I wouldn't take my chances to miss out on one of the greatest cards in the market to have ever existed.

BCE - No Fee

Groceries - 3% < $6,000
Gas - 2%
Department Sores - 2%
Drug Store - 1%

BCP - $75 Fee

Groceries - 6% < $6,000
Gas - 3%
Department Sores - 3%
Drug Store - 1%

BC (Old Blue) - No Fee

Groceries - 5% > $6,500 1% < $6,500
Gas - 5%> $6,500 1% < $6,500
Department Sores - 1% > $6,500 or .05% < $6,500
Drug Store - 5% > $6,500 or 1% < $6,500

Great info. Thanks so much

Re: Which card - AMEX Blue Cash - Discover IT - Capitol One QuicksilverOne Cash

Trivolve — Sat, 01 Mar 2014 06:12:02 GMT

If you are still a student, if your preapproval was for Discover it STUDENT i would say you have an good chance of getting it.

I think BCE is tough and since you got preapproved for Cap1 you should be good too, but do consider Discover vs. VISA coverage, and do the math for your situation of the difference of 5% cashback rotating categories for Discover (1% otherwise) and 1.5% cashback for QuicksilverOne (with $39 annual fee).