topic Re: HELP, new to credit cards need help choosing best one! in Credit Cards

HELP, new to credit cards need help choosing best one!

Anonymous — Sun, 29 Jun 2014 18:38:44 GMT

Hi I only have 2 secured cards with low credit lines. My low score is 678, but I think my mid score is at 700 plus. What score do they look at when one applies? AND which credit card would be best for me? I really need at least a 3,000 to 5,000 credit limit, to be able to have at least 300 dollars to 500 of spending...

Thank you!

Re: HELP, new to credit cards need help choosing best one!

JoshNurse — Sun, 29 Jun 2014 18:42:01 GMT

I enjoy my new Discover it card. Not sure if amex will like scores uder 700 but I am not soo sure. You may want to wait to reach about 730 for Amex instead of risking a hardpull for nothing.

Re: HELP, new to credit cards need help choosing best one!

coldnmn — Sun, 29 Jun 2014 18:43:28 GMT

It takes more then score. We need more information current credit limits, AAoA, baddies, etc.

Re: HELP, new to credit cards need help choosing best one!

Carrie_in_Pa — Sun, 29 Jun 2014 18:47:11 GMT

Which secured cards do you have? Are they going to be unsecured any time soon? I ask because you might be able to get a CLI soon and then maybe do a product change. That could help before you apply for anything new.

I just recently got Discover IT, Chase Freedom and Barclays Rewards with scores similar to yours. My income isn't very high so my limits aren't that great. Try to improve what you have and then another card would be more likely to give you something better.

Re: HELP, new to credit cards need help choosing best one!

Anonymous — Sun, 29 Jun 2014 18:48:47 GMT

Ok note: my tag has out dated scores. Credit Karma has 734 and EX has 678 I believe my mid score is in 700's, but not sure which will they pull??? I just purchased a home for $227,000, I have 2 secured cards low limits 200 and 800, no lates, no badies other than 3 PAID medical bills that have not fallen off.

Re: HELP, new to credit cards need help choosing best one!

JoshNurse — Sun, 29 Jun 2014 18:51:16 GMT

Chase Sapphire Preferred® Card

Try this one and let us know your results. You have no baddies so I dont see a problem.

Re: HELP, new to credit cards need help choosing best one!

Themanwhocan — Sun, 29 Jun 2014 18:55:34 GMT

@Anonymous wrote:
Ok note: my tag has out dated scores. Credit Karma has 734 and EX has 678 I believe my mid score is in 700's, but not sure which will they pull??? I just purchased a home for $227,000, I have 2 secured cards low limits 200 and 800, no lates, no badies other than 3 PAID medical bills that have not fallen off.

Credit Karma score is useless. A broken clock is at least accurate twice a day, and thats more than I can say for Credit Karma or Credit Sesame. They are used for keeping track of when inquiries and new credit cards appear on your credit report, but thats about it.

When did you get each of your credit cards? When did you apply and fail for credit cards? Do you have any loans that may still be on your reports, like student loans or car loans?

Re: HELP, new to credit cards need help choosing best one!

coldnmn — Sun, 29 Jun 2014 18:55:46 GMT

@JoshNurse wrote:
Chase Sapphire Preferred® Card

Try this one and let us know your results. You have no baddies so I dont see a problem.

Last time I checked paid medical bills listed on a credit report are baddies.

Re: HELP, new to credit cards need help choosing best one!

BungalowMo — Sun, 29 Jun 2014 18:57:34 GMT

I agree with trying to unsecure those 2 first. Also...certain card companies pull certain reports, depending on what state you live in.

If you have baddies or a short credit history, I wouldn't suggest apping for certain ones. Back when I didn't look so great on paper, I had no clue, so I was trying for all the prime cards. Denied every time.

Then I came here & realized the steps to take to look better in their eyes. Got AMEX, Discover, Navy Federal & the Chase Freedom Signature.

Give us more background info & we can help you with the products you'll likely be approved for & you won't be wasting hard inquiries for cards that like to see a cleaner longer file.

Lastly...I highly suggest going to https://www.annualcreditreport.com/index.action and getting your 3 FREE credit reports. You can get them each once per year. If you've never gotten them, I'd get all 3 right away & either save them or print them up. They disappear after a couple weeks. They are filled with great info...just DO NOT buy their scores. No one uses them.

Re: HELP, new to credit cards need help choosing best one!

Carrie_in_Pa — Sun, 29 Jun 2014 18:57:36 GMT

@JoshNurse wrote:
Chase Sapphire Preferred® Card

Try this one and let us know your results. You have no baddies so I dont see a problem.

I think he would be better off waiting for his score to go up a bit before applying for that one.

Re: HELP, new to credit cards need help choosing best one!

Anonymous — Sun, 29 Jun 2014 19:02:41 GMT

I have a car loan, never late. home loan, never late, no lates just paid medical bills still on report. I have 1 bank secured card fro a credit union for 800, never late account is 1.5 year old the other is capital open sky for the same time and never late 200 credit limit;therefore I need non-secured with higher limit EQ has always been my lower score by 30 points so if they are at 678 i am sure the others are at 700. I need to know what they pull and which card would be best to try to get that will give me a higher credit line please. I own a home and oh BTW just got a rooms to go credit line of 1K.

Thanks!!!!

Re: HELP, new to credit cards need help choosing best one!

Themanwhocan — Sun, 29 Jun 2014 19:31:59 GMT

If your scores are really that low, then there are baddies on your report. You should check at least one of the free credit reports.

You might want to try for a Discover It. If so, apply through Amazonj.com to get a free $75 amazon gift card. http://www.amazon.com/Discover-it%C2%AE/dp/B00AW3IXZO

Maybe the Sallie Mae Rewards Mastercard as well. https://www.salliemae.com/credit-cards/sallie-mae-card/

You do not need a student loan to use the Sallie mae.

Re: HELP, new to credit cards need help choosing best one!

Anonymous — Sun, 29 Jun 2014 19:37:01 GMT

I havent updated my tag scores, I have a low score of 678 the others are in low 700's.

Re: HELP, new to credit cards need help choosing best one!

Carrie_in_Pa — Sun, 29 Jun 2014 19:39:42 GMT

@Anonymous wrote:
I havent updated my tag scores, I have a low score of 678 the others are in low 700's.

It isn't just your scores that matter. It's everything that makes your scores what they are.

Re: HELP, new to credit cards need help choosing best one!

SamsungHDTV — Sun, 29 Jun 2014 19:41:31 GMT

If you're spending isn't too high, I say go for Chase freedom. Its a solid, no annual fee card. And they have a great sign up bonus until the end of the month. Or if you're worried about getting approved. It isn't the easiest card to get, but it isn't the hardest either.

You want your early cards to have no annual fee in case you outgrow them or if your needs change. If they have no annual fee you have no reason to close them. You should almost never close a credit card unless it has an annual fee and you dont use it.

Bottom line: my vote is for Chase freedom while they are doing the $200 promo. They also do a bonus $25 for adding an AU and making one purchase within 3 months. Not bad for a no annual fee card.

Re: HELP, new to credit cards need help choosing best one!

Carrie_in_Pa — Sun, 29 Jun 2014 19:44:54 GMT

@SamsungHDTV wrote:
If you're spending isn't too high, I say go for Chase freedom. Its a solid, no annual fee card. And they have a great sign up bonus until the end of the month. Or if you're worried about getting approved. It isn't the easiest card to get, but it isn't the hardest either.

You want your early cards to have no annual fee in case you outgrow them or if your needs change. If they have no annual fee you have no reason to close them. You should almost never close a credit card unless it has an annual fee and you dont use it.

Bottom line: my vote is for Chase freedom while they are doing the $200 promo. They also do a bonus $25 for adding an AU and making one purchase within 3 months. Not bad for a no annual fee card.

I got it with a score of 648. Not the greatest limit ($2200) but not bad considering my score and income.

Re: HELP, new to credit cards need help choosing best one!

Anonymous — Sun, 29 Jun 2014 20:10:53 GMT

OMG!!!!!!!!!!!!!!!!!!!!! Just got an automatic approval from Amazon Chase Card with a 4,000 credit limit!!!!!!!!!!!!!!!!!!!! Yes!

Re: HELP, new to credit cards need help choosing best one!

Carrie_in_Pa — Sun, 29 Jun 2014 20:15:11 GMT

Congrats!

Re: HELP, new to credit cards need help choosing best one!

coldnmn — Sun, 29 Jun 2014 20:24:46 GMT

Congrats! Thanks for sharing.

Re: HELP, new to credit cards need help choosing best one!

leegreen — Sun, 29 Jun 2014 20:25:38 GMT

Do you have an in for navy federal? Are you or any in your immadiate family members or currently employed by DoD or any branch of the military. If so I highly recomend their cashRewards card as you are likely to get approved with a CL of over 5k. INHO.