topic Re: Advise needed in Credit Cards

Advise needed

Drsgwld — Thu, 12 Jun 2014 23:44:20 GMT

As soon as I get my student loan corrected and if my FICO goes over 650 with 3 excellent lines of credit, which unsecured credit cards should I apply for. I will have DTE paid closed for 3.5 yrs. Student Loan 9 month payment history, but opened 2011 and a secured 5th 3rd at 500. My FICO w/o correction on 180 is at 607 now.

Re: Advise needed

gdale6 — Thu, 12 Jun 2014 23:56:44 GMT

You would apply for cards that best give you rewards for your spending habits. They can be cashback or travel rewards cards. A few of the good cashback cards are the Discover It and Chase Freedom. You will get more help if you were to post this in the credit card forum that is where the individual card gurus are hanging out. You can PM a mod and ask that this be moved.

Re: Advice needed

Shogun — Fri, 13 Jun 2014 00:06:20 GMT

OP I moved your post here in hopes of getting better recognition and responses and deleted the duplicate post.

Re: Advise needed

coldnmn — Fri, 13 Jun 2014 00:17:35 GMT

Barclay Rewards for average credit. They are good to recon if denied plus they are good about giving auto CLI every 6 months. After 6 months then I would try for the Discover after showing good history with Barclay.

Re: Advise needed

Drsgwld — Fri, 13 Jun 2014 00:26:10 GMT

What do you mean recon?

Re: Advise needed

Drsgwld — Fri, 13 Jun 2014 00:29:04 GMT

Isn't Discover less accepted? I know it was years ago! I don't know much about Barclay. In fact I never heard of it til I came on here. I thought Chase was much more difficult to get.

Re: Advise needed

LearningMoreAboutCredit — Fri, 13 Jun 2014 00:31:35 GMT

@Drsgwld wrote:
What do you mean recon?

recon = reconsideration.

Re: Advise needed

Drsgwld — Fri, 13 Jun 2014 00:33:57 GMT

Also, should I ONLY apply for one card or a few at one time?

Re: Advise needed

Drsgwld — Fri, 13 Jun 2014 00:34:44 GMT

To see who is willing to take me for the best rate?

Re: Advise needed

LearningMoreAboutCredit — Fri, 13 Jun 2014 00:40:33 GMT

@Drsgwld wrote:
Also, should I ONLY apply for one card or a few at one time?

TBH, I would wait until your scores were a little higher. To answer your question though, it is best to plan for the cards you want according to how sensitive the issuer is to INQ's, i.e., Barclays, and minimum 1-3 cards per year. That's what I would do but what's good for me may not be good for someone else.

Select cards that fit your spending habits and determine what type of rewards you would like...cash back, travel, etc.

Re: Advise needed

Drsgwld — Fri, 13 Jun 2014 00:43:18 GMT

Can you give me an about score model before I apply? 650 700? Cash back is as good as travel for me. I'm just using it to build on.

Re: Advise needed

youdontkillmoney — Fri, 13 Jun 2014 00:44:10 GMT

Look into capital one quicksilver, with cashback rewards; someone else mentioned Chase freedom too, great cash back rewards

Re: Advise needed

Drsgwld — Fri, 13 Jun 2014 00:46:07 GMT

I also wanted 1 store/retail card in the equation as a means to diversify; possibly kohls.

Re: Advise needed

Drsgwld — Fri, 13 Jun 2014 00:46:54 GMT

Isn't Chase difficult to obtain with less than 700/720?

Re: Advise needed

LearningMoreAboutCredit — Fri, 13 Jun 2014 00:53:25 GMT

@Drsgwld wrote:
Can you give me an about score model before I apply? 650 700? Cash back is as good as travel for me. I'm just using it to build on.

IMHO, 680+

If rewards don't really matter and since you didn't really specify, I can only suggest some that have been mentioned already...Chase Freedom, Discover it, and maybe Barclays Rewards MC.

Re: Advise needed

LearningMoreAboutCredit — Fri, 13 Jun 2014 00:55:54 GMT

@Drsgwld wrote:
I also wanted 1 store/retail card in the equation as a means to diversify; possibly kohls.

Unless you're getting a Kohl's card for additional bennies, it's not really a good card to have as CL's are paltry at best. And CapOne is the underwriter...three HP's in your future. Maybe?

Re: Advise needed

Drsgwld — Fri, 13 Jun 2014 00:56:16 GMT

Is there a score I should wait until I arrive at? I'm at FICO 607, but Equ 618, TU 615 and Exp is close to 700

Re: Advise needed

Drsgwld — Fri, 13 Jun 2014 00:57:17 GMT

What's an HP?

Re: Advise needed

Drsgwld — Fri, 13 Jun 2014 00:58:40 GMT

Maybe? Not sure what your asking, but I'll take a Gin and Diet Tonic!!! Lol

Re: Advise needed

Anonymous — Fri, 13 Jun 2014 01:03:29 GMT

HP = hard pull