topic Re: Looking to get a new credit card...any suggestions? in Credit Cards

Looking to get a new credit card...any suggestions?

Anonymous — Wed, 23 Jul 2014 15:48:13 GMT

Hey everyone! Newbie here.

I am looking into possibly getting another/new credit card. Hopefully someone may have a suggestion for me!

Here's a little more information.

I am a 21 year old college student. Don't currently have a car; but will be getting one within the next year. Will have some student loans once I graduate to pay off. Have never had a late payment on any of my cards. Also, I believe Macys, Sears & Jcpenney cards close out if not used within the year.

Currently I have 5 credit cards (most are retail/shopping), and currently I do not have ANYTHING on any of the cards. Just paid off my last one about a month ago.

Here's what I have right now:

PNC Bank Cashbuilder: CL of $5000 (this is the one I have used the most; paid it completely off last month; used mostly for books, school payments, rental cars, etc)

Macy's CC: CL of $1,000

Sears CC #1: CL of $2,500

Sears CC #2: CL of $4,250

JcPenney CC: CL of $1,900

Also, checked my credit score/report with CreditKarma and it came back as 758. I am assuming that is decent, am I right?

I have been looking at possibly the Capital One QuickSilver or Chase Freedom card. Do those sound like a good fit? Any other better suggestions for me? I am looking more for a rewards/cash type of credit card. My PNC one has it set so that I have to have at least $50 in rewards before I can redeem, I would rather have one that let's me redeem whenever I choose to (and from what I've read, Capital One QuickSilver does that). Also looking for something that would not have an annual fee to pay.

Thanks in advance!

Re: Looking to get a new credit card...any suggestions?

IcEWoLF — Wed, 23 Jul 2014 15:55:37 GMT

I'd stay away from Capital One since you are still young and they pull a credit from each credit bureau. I would highly suggest getting the Discover IT/Chase Freedom combo. I think for a student that is a great card to get into. They both have rolling 5% categories and they both offer sign up bonuses.

Promotional link: https://www.discovercard.com/cardmembersvcs/acqs/app/display?gclid=COWZyvCvl70CFa07MgodWScAdQ&pageFileId=paidsearch&sc=KC24&iq_id=r17935935653

Spend $750 and get $150 cash back...surprised that link is still alive.

Then the freedom Spent $500 you get $150 back: https://creditcards.chase.com/credit-cards/chase-freedom3.aspx?F42G=Y538C4&iCELL=63KC

Re: Looking to get a new credit card...any suggestions?

MT936 — Wed, 23 Jul 2014 16:26:12 GMT

Greetings fellow 21 year old college student I would recommend the discover it many of my college friends have it and the free fico score every month is nice

Re: Looking to get a new credit card...any suggestions?

Dw4250 — Wed, 23 Jul 2014 16:31:21 GMT

#1 Sallie Mae.

It's perfect for students! 5% on gas (up to $250/month); 5% on groceries including Walmart/Target (up to $250/month); 5% on Amazon/bookstores (up to $750/month).

2# Quicksilver.

1.5% on everything....3 HP kinda sucks, but you're young enough where getting in on the C1 ground floor with good credit (as opposed to a Cap One rebuilder) will serve you well.

Discover IT or Chase Freedom

Check out the rewards structures the rest of the year and see if they fit your lifestyle.

Re: Looking to get a new credit card...any suggestions?

heyarrnold — Wed, 23 Jul 2014 16:34:44 GMT

Hi there!

Join the 21 club over here! haha.

I would recommend the following three:

1) Sallie Mae

2) An Amex . BCE or ED card.

3) A Freedom. I prefer a Visa over a Discover. Both have great CS. Although Discover is better at lowering APR at the request of the consumer, and providing SP CLI.

Re: Looking to get a new credit card...any suggestions?

destine2grow — Wed, 23 Jul 2014 16:38:00 GMT

I say go for the Cap 1 Quicksilver. Yes it is 3 HP however you will not have an AF if you get the one for excellent credit. Also you can redeem your points when ever you want. It's 1.5%. You don't have to worry about rotating categories. Also you can cosider Fidelity AMEX or VIsa. The Fidelity Visa is 1.5% and the Fidelity Amex is 2%. I believe you start redeeming at 2500 pts. Good luck!

Re: Looking to get a new credit card...any suggestions?

PrimeRate — Wed, 23 Jul 2014 16:45:41 GMT

@Dw4250 wrote:
#1 Sallie Mae.
It's perfect for students! 5% on gas (up to $250/month); 5% on groceries including Walmart/Target (up to $250/month); 5% on Amazon/bookstores (up to $750/month).

#2 Fidelity Amex! 2% on everything else.

Re: Looking to get a new credit card...any suggestions?

Anonymous — Wed, 23 Jul 2014 20:39:41 GMT

I would def go with Chase Freedom or Sallie Mae! Capital one is great to start off with, but if you can swing a freedom or sallie mae card instead, Do it!

Re: Looking to get a new credit card...any suggestions?

Blodreina — Wed, 23 Jul 2014 22:05:14 GMT

The Quicksilver is an excellent card: the best cashback card, in my opinion. Those who are steering you away from Capital One have an inaccurate perception of them; they are not a lender that only carries rebuilder cards.

Re: Looking to get a new credit card...any suggestions?

Themanwhocan — Mon, 28 Jul 2014 01:32:33 GMT

@Simba501 wrote:
The Quicksilver is an excellent card: the best cashback card, in my opinion. Those who are steering you away from Capital One have an inaccurate perception of them; they are not a lender that only carries rebuilder cards.

I think there are better alternatives for non category spending.

Re: Looking to get a new credit card...any suggestions?

Anonymous — Thu, 24 Jul 2014 15:34:36 GMT

Wow, was not expecting so many responses! Guess this must be a pretty active forum. Glad that I found it. Also, glad to see that I am not the only 21 year old/college aged student posting here! I guess I should have added, I am not a very big spender. Normally spend around $200-$300 or so a month; sometimes more & sometimes less. Also, I don't travel out of the country, so that isn't an issue with any out-of-country fees. Also, I do not travel much, so I am not too interested in cards that are used for travel miles/rewards.

I didn't even know Sallie Mae had a credit card. That one seems to be pretty decent, and what I may be looking for. I also like the fact that they allow you to use your rewards to help pay for the student loans I'll have. Does anyone know if I could opt to just get cash if I chose to do so? Also, do you have to reach a minimum amount of points/rewards before you can cash out or can you do that at any time?

Also, one of the reasons I had mentioned wanting to possibly apply for the Capital One Quicksilver is because you get 1.5% cashback in every category. I have checked out the cards (ie: Discover IT) that do have the rotating categories, and some quarters would be pretty useless to me. I don't have a car, so gas isn't a category that would be relevent to me. I'm looking for something that gives cashback mainly for restaurants, groceries, retail, etc. Although, the Discover IT does provide the free FICO score which I think is a definite bonus!

American Express, seems to have a lot of different card options. I am not sure which one to look at first. I would assume perhaps USAA American Express?

Fidelity Amex also seems like a pretty viable option, as they don't have the rotating categories. Free to signup. No annual fee. And 2% cashback! Does anyone happen to know if they have a minimum payout type of deal?

BankAmericard Cash Rewards, also seems pretty good! No annual fee, 1% back. 2% back at grocery stores & 3% on gas for first $1,500 spent each quarter.

I think I've narrowed it down to these few: Sallie Mae, USAA American Express, Fidelity Amex, BankAmericard Cash Rewards & Capital One QuickSilver. Anyone have any advice for me one which one might be the best for me? Or any other viable options that I have not really considered much yet? Also, would it be a good/bad idea to consider opening a few different ones & using them how I like?

Re: Looking to get a new credit card...any suggestions?

RBFool — Thu, 24 Jul 2014 15:41:59 GMT

@Themanwhocan wrote:
@Simba501 wrote:
The Quicksilver is an excellent card: the best cashback card, in my opinion. Those who are steering you away from Capital One have an inaccurate perception of them; they are not a lender that only carries rebuilder cards.
I think there are better alternatives for non category spending.

This maybe a question I should know the answer to but - Where do you get these charts at?

Re: Looking to get a new credit card...any suggestions?

Blodreina — Thu, 24 Jul 2014 15:45:43 GMT

@Themanwhocan wrote:
@Simba501 wrote:
The Quicksilver is an excellent card: the best cashback card, in my opinion. Those who are steering you away from Capital One have an inaccurate perception of them; they are not a lender that only carries rebuilder cards.
I think there are better alternatives for non category spending.

Yes, if you only want to maximize dollars on paper. There are other factors to consider (particularly, redemption policy and eligibility). I had never heard of the JCB card; I read something about it not being available for every state? And the Fidelity Amex requires an accompanying banking account with them?

Re: Looking to get a new credit card...any suggestions?

hizzaah — Thu, 24 Jul 2014 15:58:27 GMT

@Anonymous wrote:
Wow, was not expecting so many responses! Guess this must be a pretty active forum. Glad that I found it. Also, glad to see that I am not the only 21 year old/college aged student posting here! I guess I should have added, I am not a very big spender. Normally spend around $200-$300 or so a month; sometimes more & sometimes less. Also, I don't travel out of the country, so that isn't an issue with any out-of-country fees. Also, I do not travel much, so I am not too interested in cards that are used for travel miles/rewards.

I didn't even know Sallie Mae had a credit card. That one seems to be pretty decent, and what I may be looking for. I also like the fact that they allow you to use your rewards to help pay for the student loans I'll have. Does anyone know if I could opt to just get cash if I chose to do so? Also, do you have to reach a minimum amount of points/rewards before you can cash out or can you do that at any time?

Also, one of the reasons I had mentioned wanting to possibly apply for the Capital One Quicksilver is because you get 1.5% cashback in every category. I have checked out the cards (ie: Discover IT) that do have the rotating categories, and some quarters would be pretty useless to me. I don't have a car, so gas isn't a category that would be relevent to me. I'm looking for something that gives cashback mainly for restaurants, groceries, retail, etc. Although, the Discover IT does provide the free FICO score which I think is a definite bonus!

American Express, seems to have a lot of different card options. I am not sure which one to look at first. I would assume perhaps USAA American Express?

Fidelity Amex also seems like a pretty viable option, as they don't have the rotating categories. Free to signup. No annual fee. And 2% cashback! Does anyone happen to know if they have a minimum payout type of deal?

BankAmericard Cash Rewards, also seems pretty good! No annual fee, 1% back. 2% back at grocery stores & 3% on gas for first $1,500 spent each quarter.

I think I've narrowed it down to these few: Sallie Mae, USAA American Express, Fidelity Amex, BankAmericard Cash Rewards & Capital One QuickSilver. Anyone have any advice for me one which one might be the best for me? Or any other viable options that I have not really considered much yet? Also, would it be a good/bad idea to consider opening a few different ones & using them how I like?

Sallie Mae is great. You can use your bonus to pay back Sallie Mae loans, or you can redeem after $25 earned. They're next on my list.

USAA requires military affiliation. They're also good to bank with, they've got cheap auto insurance, etc. My gf has their Amex and they gave pretty good auto increases, but the rewards aren't great. Any CLI you ask for will be a hard pull. Pen Fed is another good military bank. NFCU too..

Fidelity is good for 2% back on everything. good for random expenditures, but in my experience as a student, the Sallie Mae will get me better returns usually.

Capital One is good to some people, not so much to others. Be warned, they pull all three bureaus so that might not be worth it for some.

Re: Looking to get a new credit card...any suggestions?

Anonymous — Thu, 24 Jul 2014 19:29:42 GMT

@hizzaah wrote:
Sallie Mae is great. You can use your bonus to pay back Sallie Mae loans, or you can redeem after $25 earned. They're next on my list.

USAA requires military affiliation. They're also good to bank with, they've got cheap auto insurance, etc. My gf has their Amex and they gave pretty good auto increases, but the rewards aren't great. Any CLI you ask for will be a hard pull. Pen Fed is another good military bank. NFCU too..

Fidelity is good for 2% back on everything. good for random expenditures, but in my experience as a student, the Sallie Mae will get me better returns usually.

Capital One is good to some people, not so much to others. Be warned, they pull all three bureaus so that might not be worth it for some.

Thanks so much everyone & hizzaah. I do not have any military affiliation, so I guess that takes care of that option! lol.

I think I may be leaning towards the Sallie Mae card. Seems like a very good option for me at this point!

I found one other option, that may be good as well...the Citi Thank You Preferred Card for College Students. It said 1% back on everything. 2 ThankYou points for every dollar dining & entertainment, 1 ThankYou point for everything else. And the current promo was get 2500TYpts for spending $500 in first 3 months. Does anyone know anything about this card? Do I need a bank account with Citi bank or something to qualify/use?

Re: Looking to get a new credit card...any suggestions?

PrimeRate — Thu, 24 Jul 2014 19:49:26 GMT

Do yourself a favor and immediately forget about the TYP from Citi. Sallie Mae is the way!

Re: Looking to get a new credit card...any suggestions?

Glkslngr — Thu, 24 Jul 2014 20:07:33 GMT

Chase Freedom or AMEX BCE! I want that Amex so I can't speak from experience, but heard it's pretty good. I like Chase Freedom becuase I can easlily rack up points by shopping online through their rewards store and apply th cash back to my statement for credit. Good luck!

Re: Looking to get a new credit card...any suggestions?

Themanwhocan — Thu, 24 Jul 2014 20:08:08 GMT

@RBFool wrote:
@Themanwhocan wrote:
@Simba501 wrote:
The Quicksilver is an excellent card: the best cashback card, in my opinion. Those who are steering you away from Capital One have an inaccurate perception of them; they are not a lender that only carries rebuilder cards.
I think there are better alternatives for non category spending.

This maybe a question I should know the answer to but - Where do you get these charts at?

I just make them. The hard part is coming up with a good idea for a chart, something that might illustrate a point, and/or allow people to estimate which card(s) is best for their spending patterns, and not just my spending patterns.

Re: Looking to get a new credit card...any suggestions?

Dw4250 — Thu, 24 Jul 2014 20:26:55 GMT

Simba501 wrote:

Themanwhocan wrote:

Just got approved for this card earlier today. You do not need a Fidelity account to apply. But you do need a Fidelity cash management account (very similar to a checking account) to redeem. Once Fidelity has credited your account, you can simply ACH it into your regular bank account (or write a check to yourself).

This is not a limiting factor.

Re: Looking to get a new credit card...any suggestions?

Christina_xyt — Thu, 24 Jul 2014 22:53:31 GMT

@IcEWoLF wrote:
I'd stay away from Capital One since you are still young and they pull a credit from each credit bureau. I would highly suggest getting the Discover IT/Chase Freedom combo. I think for a student that is a great card to get into. They both have rolling 5% categories and they both offer sign up bonuses.

Promotional link: https://www.discovercard.com/cardmembersvcs/acqs/app/display?gclid=COWZyvCvl70CFa07MgodWScAdQ&pageFileId=paidsearch&sc=KC24&iq_id=r17935935653
Spend $750 and get $150 cash back...surprised that link is still alive.

Then the freedom Spent $500 you get $150 back: https://creditcards.chase.com/credit-cards/chase-freedom3.aspx?F42G=Y538C4&iCELL=63KC

Does this 150 sign up bonus still exist? why didn't my friends (3 of them) didn't get it?? or if they were referred by me? so they weren't qualified for the sign up bonus?