topic Re: Good enough reason? in Credit Cards

Good enough reason?

IFtkkdx428 — Sun, 06 Jul 2014 23:17:26 GMT

Once I began building credit almost a 1.5 years ago, I told myself that I wouldn't apply for credit cards that didn't serve a significant purpose. Though the Discover It card has crossed my mind on a few occasions from the time I made the decision to choose the Chase Freedom card, over the Discover It card back in January of 2014. The main reason I would like to apply for the Discover It card, is simply because of the monthly credit score that is offered to cardholders. I have a pre-approved offer from Discover for their Discover It card.

Is this a good enough reason to apply for this card?

Also, if the subject comes up. I do know of only two other cards which offer credit score to cardmembers. Barclay's credit card and Walmart's credit card. I do not shop at Walmart and Barclay seems to target all of their cards to those who travel which would not be benifical to me. Any other cards that offer this service that you recommend?

Helpful Information

Age: 22

Annual Income: $16,000.00

Monthly Rent/Morgage Payment: $0

Credit Karma FAKO score: 739

Credit Card Utliization Rate: 1%

Percent of Ontime Payments: 100%

AAoA: 0.92

Total Accounts: 2

Hard Credit Inquiries: 2

Drogatory Marks: 0

Current Credit Cards

Capital One

Credit Limit: $750 (I asked for a CLI via online on 7/5/14 and recived a $250 increase)

Card issued: Jan/2013

Chase Freedom

Credit Limit: $3,000

Card Issued: Jan/2014

I hope I have provided enough information. If there are details I have missed that could better help, please ask.

Thank you in advance for reading, IFtkkdx428

Re: Good enough reason?

Chaselover — Sun, 06 Jul 2014 23:37:23 GMT

@IFtkkdx428 wrote:
Once I began building credit almost a 1.5 years ago, I told myself that I wouldn't apply for credit cards that didn't serve a significant purpose. Though the Discover It card has crossed my mind on a few occasions from the time I made the decision to choose the Chase Freedom card, over the Discover It card back in January of 2014. The main reason I would like to apply for the Discover It card, is simply because of the monthly credit score that is offered to cardholders. I have a pre-approved offer from Discover for their Discover It card.

Is this a good enough reason to apply for this card?

Also, if the subject comes up. I do know of only two other cards which offer credit score to cardmembers. Barclay's credit card and Walmart's credit card. I do not shop at Walmart and Barclay seems to target all of their cards to those who travel which would not be benifical to me. Any other cards that offer this service that you recommend?

Helpful Information
Age: 22
Annual Income: $16,000.00
Monthly Rent/Morgage Payment: $0
Credit Karma FAKO score: 739
Credit Card Utliization Rate: 1%
Percent of Ontime Payments: 100%
AAoA: 0.92
Total Accounts: 2
Hard Credit Inquiries: 2
Drogatory Marks: 0

Current Credit Cards

Capital One
Credit Limit: $750 (I asked for a CLI via online on 7/5/14 and recived a $250 increase)
Card issued: Jan/2013

Chase Freedom
Credit Limit: $3,000
Card Issued: Jan/2014

I hope I have provided enough information. If there are details I have missed that could better help, please ask.

Thank you in advance for reading, IFtkkdx428

You can get the monthly credit score with your capital one credit card also.

Re: Good enough reason?

nachoslibres — Sun, 06 Jul 2014 23:40:57 GMT

Barclaycard also offers their Rewards card which has a free FICO score. I believe it offers 2% back on gas, groceries, and utilities and 1% back on every thing else. Not a very exciting card but another option for you if you really want a card with free FICO.

Re: Good enough reason?

IFtkkdx428 — Sun, 06 Jul 2014 23:40:58 GMT

Chaselover, I believe you are speaking of the "Credit Tracker"? That is a FAKO score.

Re: Good enough reason?

awiser — Sun, 06 Jul 2014 23:42:24 GMT

Capital One's score is not a FICO score, Discover's is. Discover is a great card to have. Their CS is excellent, their shop portal is awesome, and the FICO TU is another nice perk. I'm showing Chase most of my love right now, but both are great cards to have.

Re: Good enough reason?

Chaselover — Sun, 06 Jul 2014 23:45:26 GMT

Ok cool, I am still just understanding the difference between the FICO and FAKO scores.

Re: Good enough reason?

nachoslibres — Sun, 06 Jul 2014 23:46:52 GMT

@Chaselover wrote:
Ok cool, I am still just understanding the difference between the FICO and FAKO scores.

Haha, nice screen name. I love Chase as well - except for their horrible checking and savings interest rates.

Re: Good enough reason?

Chaselover — Sun, 06 Jul 2014 23:50:19 GMT

@nachoslibres wrote:
@Chaselover wrote:
Ok cool, I am still just understanding the difference between the FICO and FAKO scores.
Haha, nice screen name. I love Chase as well - except for their horrible checking and savings interest rates.

I have an excellent experience with Chase, I think Chase is the best bank I have ever dealt with in my life. And the screenname came once I got approved for the Chase Freedom with a low score of 607, (god noes if its FICO or FAKO, that’s what was mentioned in the approval letter, lol)

Re: Good enough reason?

nachoslibres — Sun, 06 Jul 2014 23:52:00 GMT

@Chaselover wrote:
@nachoslibres wrote:
@Chaselover wrote:
Ok cool, I am still just understanding the difference between the FICO and FAKO scores.
Haha, nice screen name. I love Chase as well - except for their horrible checking and savings interest rates.
I have an excellent experience with Chase, I think Chase is the best bank I have ever dealt with in my life. And the screenname came once I got approved for the Chase Freedom with a low score of 607, (god noes if its FICO or FAKO, that’s what was mentioned in the approval letter, lol)

Nice.

Re: Good enough reason?

s_haliz — Sun, 06 Jul 2014 23:52:17 GMT

@Chaselover wrote:
@IFtkkdx428 wrote:
Once I began building credit almost a 1.5 years ago, I told myself that I wouldn't apply for credit cards that didn't serve a significant purpose. Though the Discover It card has crossed my mind on a few occasions from the time I made the decision to choose the Chase Freedom card, over the Discover It card back in January of 2014. The main reason I would like to apply for the Discover It card, is simply because of the monthly credit score that is offered to cardholders. I have a pre-approved offer from Discover for their Discover It card.

Is this a good enough reason to apply for this card?

Also, if the subject comes up. I do know of only two other cards which offer credit score to cardmembers. Barclay's credit card and Walmart's credit card. I do not shop at Walmart and Barclay seems to target all of their cards to those who travel which would not be benifical to me. Any other cards that offer this service that you recommend?

Helpful Information
Age: 22
Annual Income: $16,000.00
Monthly Rent/Morgage Payment: $0
Credit Karma FAKO score: 739
Credit Card Utliization Rate: 1%
Percent of Ontime Payments: 100%
AAoA: 0.92
Total Accounts: 2
Hard Credit Inquiries: 2
Drogatory Marks: 0

Current Credit Cards

Capital One
Credit Limit: $750 (I asked for a CLI via online on 7/5/14 and recived a $250 increase)
Card issued: Jan/2013

Chase Freedom
Credit Limit: $3,000
Card Issued: Jan/2014

I hope I have provided enough information. If there are details I have missed that could better help, please ask.

Thank you in advance for reading, IFtkkdx428
You can get the monthly credit score with your capital one credit card also.

Just wanted to clarify.....You don't get FICO score from being a Capital One credit card holder. The score they offers is actually called "TransUnion New Account Model" which is 100% identical of what you get from "Credit Karma".

Re: Good enough reason?

IFtkkdx428 — Sun, 06 Jul 2014 23:52:21 GMT

@nachoslibres wrote:
Barclaycard also offers their Rewards card which has a free FICO score. I believe it offers 2% back on gas, groceries, and utilities and 1% back on every thing else. Not a very exciting card but another option for you if you really want a card with free FICO.

I feel Discover It's card is superior in terms of rewards to Barclay's card.

Re: Good enough reason?

MT936 — Sun, 06 Jul 2014 23:54:47 GMT

I prefer the chase freedom rewards program over the discover it but the discover its is still great on its own, i also love getting my fico score on my montly statement with it so it is a tough choice

Re: Good enough reason?

nachoslibres — Sun, 06 Jul 2014 23:55:23 GMT

@IFtkkdx428 wrote:
@nachoslibres wrote:
Barclaycard also offers their Rewards card which has a free FICO score. I believe it offers 2% back on gas, groceries, and utilities and 1% back on every thing else. Not a very exciting card but another option for you if you really want a card with free FICO.
I feel Discover It's card is superior in terms of rewards to Barclay's card.

Probably - unless you are putting a lot of spend on gas and groceries which far exceeds the spend you would get on the Discover card at 5%. I'm not saying I disagree with you - but there would be instances where the Barclaycard Rewards would be better than the Discover based upon a person's specific spend.

Re: Good enough reason?

IFtkkdx428 — Sun, 06 Jul 2014 23:56:01 GMT

@MT936 wrote:
I prefer the chase freedom rewards program over the discover it but the discover its is still great on its own, i also love getting my fico score on my montly statement with it so it is a tough choice

I already have Chase Freedom.

Re: Good enough reason?

IFtkkdx428 — Mon, 07 Jul 2014 00:07:58 GMT

@nachoslibres wrote:
@IFtkkdx428 wrote:
@nachoslibres wrote:
Barclaycard also offers their Rewards card which has a free FICO score. I believe it offers 2% back on gas, groceries, and utilities and 1% back on every thing else. Not a very exciting card but another option for you if you really want a card with free FICO.
I feel Discover It's card is superior in terms of rewards to Barclay's card.
Probably - unless you are putting a lot of spend on gas and groceries which far exceeds the spend you would get on the Discover card at 5%. I'm not saying I disagree with you - but there would be instances where the Barclaycard Rewards would be better than the Discover based upon a person's specific spend.

Great point. I see where this could become useful. Though I can't find the card which you are speaking of. Could you please provide the name of the card?

Edit: I see you are speaking of the Barclaycard Rewards? Do you know if you can redeem points for cash?

Re: Good enough reason?

nachoslibres — Mon, 07 Jul 2014 00:24:56 GMT

@IFtkkdx428 wrote:
@nachoslibres wrote:
@IFtkkdx428 wrote:
@nachoslibres wrote:
Barclaycard also offers their Rewards card which has a free FICO score. I believe it offers 2% back on gas, groceries, and utilities and 1% back on every thing else. Not a very exciting card but another option for you if you really want a card with free FICO.
I feel Discover It's card is superior in terms of rewards to Barclay's card.
Probably - unless you are putting a lot of spend on gas and groceries which far exceeds the spend you would get on the Discover card at 5%. I'm not saying I disagree with you - but there would be instances where the Barclaycard Rewards would be better than the Discover based upon a person's specific spend.
Great point. I see where this could become useful. Though I can't find the card which you are speaking of. Could you please provide the name of the card?

Edit: I see you are speaking of the Barclaycard Rewards? Do you know if you can redeem points for cash?

From what I've read you just redeem against purchases you've already made on the card - so basically for a statement credit.

Re: Good enough reason?

lonelyisland — Mon, 07 Jul 2014 00:36:01 GMT

I have both Barclay Sallie Mae and Barclay Rewards, I'd recommend the SM over the rewards. Its 5% on SM up to $250 in monthly for groceries and gas and 5% on bookstores (including any goods bought on Amazon) up to $750 in monthly spend. You can redeem the cashback in $25 incremwnts as statement credits. The regular Rewards card gives you more options for redemptiom, but less %. If the reason was only for a FICO, I'd suggest the SM. I'd wait a little on the discover to get a thick enough file to get a larger limit. Barclay seems to grow with auto clis faster than Discover for most.

Re: Good enough reason?

SevenNEW — Mon, 07 Jul 2014 00:33:49 GMT

@Chaselover wrote:
@IFtkkdx428 wrote:
Once I began building credit almost a 1.5 years ago, I told myself that I wouldn't apply for credit cards that didn't serve a significant purpose. Though the Discover It card has crossed my mind on a few occasions from the time I made the decision to choose the Chase Freedom card, over the Discover It card back in January of 2014. The main reason I would like to apply for the Discover It card, is simply because of the monthly credit score that is offered to cardholders. I have a pre-approved offer from Discover for their Discover It card.

Is this a good enough reason to apply for this card?

Also, if the subject comes up. I do know of only two other cards which offer credit score to cardmembers. Barclay's credit card and Walmart's credit card. I do not shop at Walmart and Barclay seems to target all of their cards to those who travel which would not be benifical to me. Any other cards that offer this service that you recommend?

Helpful Information
Age: 22
Annual Income: $16,000.00
Monthly Rent/Morgage Payment: $0
Credit Karma FAKO score: 739
Credit Card Utliization Rate: 1%
Percent of Ontime Payments: 100%
AAoA: 0.92
Total Accounts: 2
Hard Credit Inquiries: 2
Drogatory Marks: 0

Current Credit Cards

Capital One
Credit Limit: $750 (I asked for a CLI via online on 7/5/14 and recived a $250 increase)
Card issued: Jan/2013

Chase Freedom
Credit Limit: $3,000
Card Issued: Jan/2014

I hope I have provided enough information. If there are details I have missed that could better help, please ask.

Thank you in advance for reading, IFtkkdx428
You can get the monthly credit score with your capital one credit card also.

The score given by CapOne is a fako, while I believe Discover gives a Fico score.

Re: Good enough reason?

H14 — Mon, 07 Jul 2014 00:40:07 GMT

The Discover It and Freedom are both great cards, and who knows, their categories my not overlap quite as much next year. I have both and I don't regret it.

As mentioned, the Sallie Mae WMC issued by barclays is also a fantastic cashback card, and it too gets a free fico score.

Re: Good enough reason?

lonelyisland — Mon, 07 Jul 2014 00:41:33 GMT

Sallie Mae

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

Barclay Rewards

https://www.barclaycardus.com/apply/Landing.action?campaignId=1655&cellNumber=10&referrerid=BCSOT0314PRD