topic Re: New application? in Credit Cards

New application?

bobkmn — Tue, 01 Apr 2014 19:00:43 GMT

I have 2 bank visa cards, both had $500 CL until last week when one of them doubled my CL without notice. And 2 weeks ago I was approved for and received a Discover it card with a $6500 CL. Oh, the bank cardsd are 1 and 2 years old. My question is I am thinking about applying for one more card and then retiring to my own personal garden. Is there a problem with this? If so, why? If not, which is the best card to apply for. I think I have an invitation from Slate, but not sure. Is using an invitation more successful than just applying?

Thanks!

Re: New application?

Anonymous — Tue, 01 Apr 2014 19:09:59 GMT

I would not choose the Slate as its more of a BT card, I would choose Freedom from Chase however not sure if you should wait to Discover reports or not

Re: New application?

bobkmn — Tue, 01 Apr 2014 19:33:40 GMT

@Anonymous wrote:
I would not choose the Slate as its more of a BT card, I would choose Freedom from Chase however not sure if you should wait to Discover reports or not

Thanks, does that mean that when Discover reports it might help?

Re: New application?

VirusCredit13 — Tue, 01 Apr 2014 20:05:28 GMT

@bobkmn wrote:
@Anonymous wrote:
I would not choose the Slate as its more of a BT card, I would choose Freedom from Chase however not sure if you should wait to Discover reports or not
Thanks, does that mean that when Discover reports it might help?

Might help might not.

You could get "recent new account" message. But it would also be a big boost to your overall credit limit and utilization. Not sure which one will weigh in more with Chase.

Re: New application?

Themanwhocan — Tue, 01 Apr 2014 20:08:08 GMT

What FICO score did Discover say you had when you applied? It will be on one of the sheets of paper than came with the card.

Do the bank cards have any cash back or other reward categories?

Re: New application?

bobkmn — Tue, 01 Apr 2014 20:11:47 GMT

@VirusCredit13 wrote:
@bobkmn wrote:
@Anonymous wrote:
I would not choose the Slate as its more of a BT card, I would choose Freedom from Chase however not sure if you should wait to Discover reports or not
Thanks, does that mean that when Discover reports it might help?

Might help might not.

You could get "recent new account" message. But it would also be a big boost to your overall credit limit and utilization. Not sure which one will weigh in more with Chase.

Off topic question. How do I get my discover card to line up with the other 2? I am not knowledgable in HTML.

Re: New application?

bobkmn — Tue, 01 Apr 2014 20:15:20 GMT

@Themanwhocan wrote:
What FICO score did Discover say you had when you applied? It will be on one of the sheets of paper than came with the card.

Do the bank cards have any cash back or other reward categories?

Equifax: 680 which is not what is shown here for me.

Re: New application?

VirusCredit13 — Tue, 01 Apr 2014 20:19:02 GMT

@bobkmn wrote:
@VirusCredit13 wrote:
@bobkmn wrote:
@Anonymous wrote:
I would not choose the Slate as its more of a BT card, I would choose Freedom from Chase however not sure if you should wait to Discover reports or not
Thanks, does that mean that when Discover reports it might help?

Might help might not.

You could get "recent new account" message. But it would also be a big boost to your overall credit limit and utilization. Not sure which one will weigh in more with Chase.
Off topic question. How do I get my discover card to line up with the other 2? I am not knowledgable in HTML.

The image your using has a shadow below the card and a bit of blank space after that. either cut that part out in a image ediotr, or find a pic of a discover card w/o that shadow.

Re: New application?

Themanwhocan — Tue, 01 Apr 2014 23:09:08 GMT

You can try for a Sallie Mae rewards MasterCard.

https://www.salliemae.com/credit-cards/sallie-mae-card/

Re: New application?

bobkmn — Wed, 02 Apr 2014 15:31:29 GMT

@Themanwhocan wrote:
You can try for a Sallie Mae rewards MasterCard.

https://www.salliemae.com/credit-cards/sallie-mae-card/

I don't have any student loans.

Re: New application?

Kenny — Wed, 02 Apr 2014 15:34:27 GMT

@bobkmn wrote:
@Themanwhocan wrote:
You can try for a Sallie Mae rewards MasterCard.

https://www.salliemae.com/credit-cards/sallie-mae-card/
I don't have any student loans.

It is a statement credit, I believe. But even if it's not -- I know that you don't have to have student loans for this card to be beneficial! It's a great one and you should be approved for it.

Re: New application?

bobkmn — Wed, 02 Apr 2014 16:09:43 GMT

@KennyS2006 wrote:
@bobkmn wrote:
@Themanwhocan wrote:
You can try for a Sallie Mae rewards MasterCard.

https://www.salliemae.com/credit-cards/sallie-mae-card/
I don't have any student loans.

It is a statement credit, I believe. But even if it's not -- I know that you don't have to have student loans for this card to be beneficial! It's a great one and you should be approved for it.

Appreciate the input--always good from you folks. In a few words can you tell me why it is a great card? As opposed to the Chase Freedom which has also been recommended to me.

Thanks!!!

Re: New application?

VirusCredit13 — Wed, 02 Apr 2014 18:28:14 GMT

@bobkmn wrote:
@KennyS2006 wrote:
@bobkmn wrote:
@Themanwhocan wrote:
You can try for a Sallie Mae rewards MasterCard.

https://www.salliemae.com/credit-cards/sallie-mae-card/
I don't have any student loans.

It is a statement credit, I believe. But even if it's not -- I know that you don't have to have student loans for this card to be beneficial! It's a great one and you should be approved for it.
Appreciate the input--always good from you folks. In a few words can you tell me why it is a great card? As opposed to the Chase Freedom which has also been recommended to me.

Thanks!!!

Sallie Mae is 5% on gas all year(Capped at $250 each month). Also on groceries(seperate $250/mo cap)

Chase only 5% for 1-2 quarters in the year plus you get other rotating categories, some like home improvement you might never use, others like amazon or restaurants are real useful. You have discover so you know how it works.

Basically you'll use your salllie mae card all year around unless you don't drive or buy grocieries regularly. With Freedom you'll only use it in the appropriate quarters.

edit:fixed the caps, my bad

Re: New application?

Involver — Wed, 02 Apr 2014 17:21:23 GMT

@VirusCredit13 wrote:
@bobkmn wrote:
@KennyS2006 wrote:
@bobkmn wrote:
@Themanwhocan wrote:
You can try for a Sallie Mae rewards MasterCard.

https://www.salliemae.com/credit-cards/sallie-mae-card/
I don't have any student loans.

It is a statement credit, I believe. But even if it's not -- I know that you don't have to have student loans for this card to be beneficial! It's a great one and you should be approved for it.
Appreciate the input--always good from you folks. In a few words can you tell me why it is a great card? As opposed to the Chase Freedom which has also been recommended to me.

Thanks!!!
Sallie Mae is 5% on gas all year(Capped at $750 each month). Also on groceries(seperate $750/mo cap)

Chase only 5% for 1-2 quarters in the year plus you get other rotating categories, some like home improvement you might never use, others like amazon or restaurants are real useful. You have discover so you know how it works.

Basically you'll use your salllie mae card all year around unless you don't drive or buy grocieries regularly. With Freedom you'll only use it in the appropriate quarters.

Sallie Mae is 5% on groceries and gas ($250 / month cap) and 5% on bookstores ($750 / month cap) year round.

Amazon qualifies as a bookstore which makes it a really great card.

Re: New application?

Anonymous — Wed, 02 Apr 2014 17:52:20 GMT

@Involver wrote:
@VirusCredit13 wrote:
@bobkmn wrote:
@KennyS2006 wrote:
@bobkmn wrote:
@Themanwhocan wrote:
You can try for a Sallie Mae rewards MasterCard.

https://www.salliemae.com/credit-cards/sallie-mae-card/
I don't have any student loans.

It is a statement credit, I believe. But even if it's not -- I know that you don't have to have student loans for this card to be beneficial! It's a great one and you should be approved for it.
Appreciate the input--always good from you folks. In a few words can you tell me why it is a great card? As opposed to the Chase Freedom which has also been recommended to me.

Thanks!!!
Sallie Mae is 5% on gas all year(Capped at $750 each month). Also on groceries(seperate $750/mo cap)

Chase only 5% for 1-2 quarters in the year plus you get other rotating categories, some like home improvement you might never use, others like amazon or restaurants are real useful. You have discover so you know how it works.

Basically you'll use your salllie mae card all year around unless you don't drive or buy grocieries regularly. With Freedom you'll only use it in the appropriate quarters.

Sallie Mae is 5% on groceries and gas ($250 / month cap) and 5% on bookstores ($750 / month cap) year round.

Amazon qualifies as a bookstore which makes it a really great card.

this is a really good suggestion. Rewards post immediately and a free FICO TU score on top of the rewards. Can't beat that. Especially if its a World Mastercard and even more perks come with the card.

Re: New application?

bobkmn — Wed, 02 Apr 2014 18:22:23 GMT

@Anonymous wrote:
@Involver wrote:
@VirusCredit13 wrote:
@bobkmn wrote:
@KennyS2006 wrote:
@bobkmn wrote:
@Themanwhocan wrote:
You can try for a Sallie Mae rewards MasterCard.

https://www.salliemae.com/credit-cards/sallie-mae-card/
I don't have any student loans.

It is a statement credit, I believe. But even if it's not -- I know that you don't have to have student loans for this card to be beneficial! It's a great one and you should be approved for it.
Appreciate the input--always good from you folks. In a few words can you tell me why it is a great card? As opposed to the Chase Freedom which has also been recommended to me.

Thanks!!!
Sallie Mae is 5% on gas all year(Capped at $750 each month). Also on groceries(seperate $750/mo cap)

Chase only 5% for 1-2 quarters in the year plus you get other rotating categories, some like home improvement you might never use, others like amazon or restaurants are real useful. You have discover so you know how it works.

Basically you'll use your salllie mae card all year around unless you don't drive or buy grocieries regularly. With Freedom you'll only use it in the appropriate quarters.

Sallie Mae is 5% on groceries and gas ($250 / month cap) and 5% on bookstores ($750 / month cap) year round.

Amazon qualifies as a bookstore which makes it a really great card.
this is a really good suggestion. Rewards post immediately and a free FICO TU score on top of the rewards. Can't beat that. Especially if its a World Mastercard and even more perks come with the card.

Ok, lots of info to digest....I am going to make a decision soon but I would like some final input from you folks. From what I can find I have 2 invitations to apply (1) Citi ThankYou Preferred Card and (2) Citi Diamond Preferred Card. If I choose from those, which one would be the

better one to get? No specific needs for the card except to buy gas and to achieve lower balances on my other cards. That being said, there

are 3 other cards that I am considering or have been recommended to me by members of this forum. I need not go into detail about the cards, but I will just give the types: (1) Chase Slate, (2) Chase Freedom and (3) Sally Mae Rewards Mastercard. Thoughts on those 5 cards...and of course, any other ones that you folks think I should consider.

As always, thanks for your input. These forums have made a significant difference in my life already.

Re: New application?

Themanwhocan — Wed, 02 Apr 2014 18:35:06 GMT

Sallie Mae MasterCard:

Groceries 5% capped at $250/month

Gas Stations 5% capped at $250/month (separate from the grocery cap)

Book Stores 5% capped at $750/month. Bokstores includes Amazon.com purchases, so the larger cap is useful if you use amazon.com a lot.

The Barclays web site is very clear and straightforward to use. And yes, you just redeem for Statement credits when you have $25 worth, which is fairly easy to get with al those 5% cash back categories.

They are pretty good about increasing credit limits automatically if you start with a low limit, assuming you use the card. The free FICO score is nice bonus. The small Grocery cap might seem like a problem, but you gain so much headway at 5% that once it drops to 1% for exceeding the monthly cap, you are still way ahead. For example, you always earn more cash back that an American Express Blue Cash Everyday:

Re: New application?

bobkmn — Wed, 02 Apr 2014 18:45:28 GMT

I forgot one last question. Since I have invitations from the 2 Citi cards should I favor one of those. Guess what I am getting to is do you have a better success rate, both approval and CL, with invitations or since the invitations are based on a reflection of your score, would the other cards I mentioned be about the same success rate? Clear? LOL

Re: New application?

bobkmn — Wed, 02 Apr 2014 19:18:57 GMT

Oops, I just got an invitation from Chase Freedom today. :-)

Re: New application?

Anonymous — Wed, 02 Apr 2014 19:29:25 GMT

@bobkmn wrote:
Oops, I just got an invitation from Chase Freedom today. :-)

Congratulations good luck maybe you should apply