Hi everyone!
So, after doing the CCT review of all three scores, I'm about ready to pull the trigger. I've narrowed it down to the BCE card by AMEX and the Discover IT card. Both are pre-quals, so I'm hoping that means there shouldn't be an issue. I've also gotten my utilization down to under 30% reporting at the moment.
My question is this, I keep doing the Discover prequal and it's coming back with an APR of 21.99%. Is this the general range for them? While I don't intend to carry over a balance, this still seems a bit high to me considering my three scores are over 735 and the fact that AMEX is giving me 17.99% APR on my prequal.
Before I pull the trigger, I want to make sure I make the best possible choice. I goofed with my secured card two years ago with a C1 that is stuck in secured land without getting put into the promised land. I don't want to make that same mistake again.
Thanks in advance for the information!
@Anonymous wrote:
@dsotm76 wrote:Hi everyone!
So, after doing the CCT review of all three scores, I'm about ready to pull the trigger. I've narrowed it down to the BCE card by AMEX and the Discover IT card. Both are pre-quals, so I'm hoping that means there shouldn't be an issue. I've also gotten my utilization down to under 30% reporting at the moment.
My question is this, I keep doing the Discover prequal and it's coming back with an APR of 21.99%. Is this the general range for them? While I don't intend to carry over a balance, this still seems a bit high to me considering my three scores are over 735 and the fact that AMEX is giving me 17.99% APR on my prequal.
Before I pull the trigger, I want to make sure I make the best possible choice. I goofed with my secured card two years ago with a C1 that is stuck in secured land without getting put into the promised land. I don't want to make that same mistake again.
Thanks in advance for the information!
If Discover is giving you a fix APR, then the prequal is sound. Seems like they would give you a better APR with your score. If both fits your needs, then pull the trigger on them; otherwise, I would scout around and see if you could get a lower APR on other possible cards that meets your objecdtives.
Yeah, I would think that I could get a better prequal rate. That's what is holding me back from them at the moment. In my scouting, the AMEX is giving me the best rate at the 17.99%.
Given those two, I would go for the BCE.
Of course, I don't know anything about your spending habits or if you have any rewards cards in your wallet already, so it's up to you whether Amex's 3-2-1 is better than Disco's rotating categories. If you spend a lot on groceries, it's the best out there.
I don't use a CC a lot and don't spend more than I can pay off. However, part of that is because of the C1 being stuck with such a low limit. If I had a bit more flexibility, I could take what I'd spend and just tuck that aside to pay the card off. I don't do a lot of grocery shopping. Most of mine tends to be more restaurants and entertainment.
Amex and Disco should both grow quickly with SP's.
The reason I wouldn't app with Disco right now is because, to quote my last statement, "Effective February 28, 2018, we will discontinue Extended Product Warranty, Return Guarantee, Purchase Protection, Auto Rental Insurance and Flight Accident Insurance due to low usage among cardmembers." Amex is known to have a good extended warranty, which is among the top 3 reasons I use credit cards (Cash back, better security thanks to abstraction, and extended warranty).
I wasn't aware they are discontinuing this. I'm not sure how much of that I would use, but it's good to know.
On a side note, if the Cap1 secured is the only other card in your wallet, you may prefer to get a card on the V/MC networks rather than Disco or Amex. I've only been to a few places which declined my Disco, which also generally do not accept Amex (Though one place was V/MC/Amex and another was V/MC/Disco only, so it's not a hard rule). If you're looking at the long term and don't mind taking some HP's for CLI's, the BofA 3-2-1 card (3.3-2.2-1.1 if you maintain a savings or checking account) might be a good option.
Yes, the C1 is my only card right now, aside from my Sony Financial through Synchrony. That's one reason that I'm looking for another card and wanting to make sure I select the best option. The only prequal I get from V/MC is from Citi for their Double Cash reward card. Their APR is quoting me 19.74%
Edit: I just checked my Amex prequals and I have BCE, ED, and PRG. The revolvers are both 18.24% solid with 0%/15 months and $150/$1000 SUB. Do you have intro APR and SUB on your prequals?
Each of the prequals are offering around 14-18 months 0% APR intro. I just redid the AMEX and it's up to 18.24% right now and they give $200.00 if I spend $1000.00 in the first three months. So much to consider. I'd like to apply before the first of the year. Also gunshy as I don't want a HP and a decline. 
I think I'm leaning the way of AMEX, even though my EX score is a bit lower than TU and EQ. It's 18 points lower at 744, which isn't a huge amount. I'd rather the hit come off either TU or EQ since they are at 762.
@Anonymous wrote:I’d get in with AMEX. Great company with set rules for CL growth. Treat them well and they’ll throw money at you...