Best Option?

[Anonymous]

I'll be graduating college in May and will be doing quite a bit of traveling post-graduation and am looking for a card that would give me some good travel benefits. My credit score is 775 and I have an income of around $23,000 at the moment. I've been declined for a Chase Saphirre Preferred (which I as expecting), so what would be some other realistic options for a credit card? I've had a Discover card ($2,000 limit) now for a little over a year, but am looking for something that is more widely accepted with better benefits. 

[Anonymous]

You may have a tough time with the top tier travel cards right now due to current income, but Cap One Venture would probably welcome you with open arms. Then as you establish your career and your income grows, you can pick up one of the better ones.

[Anonymous]

I noticed that there is the Cap One Venture Rewards (with the $50 annual fee) and the Cap One VentureOne Rewards (no annual fee). Which of these would I likely have a better chance at getting approved for? I know the Venture Rewards has the 40,000 mile promo with a $3,000 purchase in the first 90 days, but is this card harder to get approved for? 

[Anonymous]

The Venture is harder than the Venture One, but the rewards are better. Have you hit the milestone 21 years old yet? If so, you can check the Cap One pre-qualify. It's usually very solid.

https://findmycard.capitalone.com/en/PageVersions/LandingPages/LP_UNS_QUICK_RWD_V01.aspx

[TheConductor]

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@Anonymous wrote:

You may have a tough time with the top tier travel cards right now due to current income, but Cap One Venture would probably welcome you with open arms. Then as you establish your career and your income grows, you can pick up one of the better ones.

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Seconded.

In addition, since you will be traveling on an income of 23k, I'm guessing you will be doing a lot of backpacking with hostels, public transit, etc. Venture redemptions are much more backpacker-friendly, as they can be used to "erase" these kinds of expenses.  

The top-tier travel points cards, on the other hand, are intended for a much narrower range of redeemable expenses (flights and hotels primarily), and generally earn their highest value when you are redeeming them for top-tier rewards like first class international flights and flagship hotels. The Sapphire may be tempting, but the Venture is likely the better card for how you will be travelling right now.

Like the Sapphire, the Venture also has no foreign transaction fee, so even without the rewards you will be effectively saving yourself ~3% on any foreign expenditures, travel or not.  

[Anonymous]

I just applied for the Cap One Venture Rewards and was rejected  - so unfortunately that's out. Does Cap One have a policy on waiting to apply for another card with them (it would be the Cap One VentureOne Rewards), or are there other options out there? This also means a rejection for both the Chase Sapphire and Cap One Venture Rewards - how big of a dip will my credit score take?  I was also just approved for a Bank of America travel card as well (though just with $1000 CL). 

[Anonymous]

If I was declined for a Chase Sapphire, how long do I have to wait to apply for a different Chase card? I was thinking about the IGH rewards card (since I mainly stay at Holiday Inn's when I travel). Based on my previously mentioned info, would I stand a chance at being accepted for the IGH card?