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@AllZero wrote:Look into adding 2 more so you'll have at least 3 total, slow and steady.
Well, I didn't wait long, and last night applied and was approved for $4100 on the Amazon Prime Rewards Visa. I spend $8000 or more per year on Amazon, and the 5% cash back plus the $100 approval gift card was a very tempting. I wasn't too worried about being approved for it, since my Experian scores were so good. Ex FICO 8 was 784, and the two bankcard scores were 793 and 818.
The credit pull dropped my Ex FICO 8 three points down to 781.
Probably the next card I'll want is the AmEx Blue Cash Preferred. I have a big family, and spend about $13k/year on groceries. Would need to get one for me and one for my SO, as they drop the cash back rate from 6% to 1% after you spend $6k. I'll probably wait until late summer/early autumn to apply for that, though. If I can get to the point that I'm getting enough cash back to cover xmas & bday presents for the kids, that'd be great.
I'm thinking of applying for credit for PRK surgery in a couple months (not sure of the best options), which aside from the aforementioned AmEx Blue would be the only credit applications I expect to make for rest of the year.
Congratulations on your approval! 👍
This has nothing to do with Cashback but just an idea/thought:
Being you need surgery and being you need to buy for lots of kiddos, have you considered Care Credit? Idk how much you know about that card and whether or not you'd be interested in a store card (promotional deferred int. pymts guaranteed by x amt of months/ possiblity of invite to pc up to a MC is remote but not out of the ?) but it would help along those lines in the near future with spend anyway. Walmart-all baby supplies and toys you can swipe, all personal hygiene products you can swipe; everything at Walgreens swipe away....none are promotional deferred but every little bit helps. The promotional deferred pymts. depends on who you have surgery with and how they are signed up so you would want to call the dr.s office to see if they are apart of that network and how long they can run your procedure for.
Congrats on your recent approval!
@Anonymous wrote:I am looking for a recommendation on a Visa or MC.
I don't currently have any credit cards. I don't think I've ever had a credit card for which I was the account holder, other than a small limit secured card 15 years ago, and a JCPenny card from 2001-2012, closed satisfactorily (not sure I was the holder on that one though).
I have an account with Experian for monitoring my credit. And I've got checking & savings accounts with CapitalOne, though I am not doing much with those at the moment.
I've got a good salary. My FICO8 scores are EX 750, EQ 768, TU 725. Vantage scores are ~720.
Credit reports show 3 open accounts. I got my first mortgage in August. I've got a small student loan that I've been paying on-time for a decade. No car loans. Only 3 inquiries on my credit, and those are from the mortgage shopping/applying process.Bascially the worst thing on my credit is the lack of a credit card.
I'm not overly concerned with rewards (if I cared, then I suppose cash back on groceries or gas would be best). And I wouldn't mind a small annual fee if that were a thing for some reason. Mostly I just want to have a big enough credit line in case an actual emergency, and I definitely don't want to get declined.
I figured I'd probably get either something from Chase or CapitalOne, but would appreciate guidance here.
Thank you
I know exactly what you're looking for.
In view of what you want the card for, my recommendation would be a non-rewards platinum card from a credit union. Neither of the lenders you mention have anything that would be good for borrowing in an emergency. Their fees are too high and their interest rates are too high.
Many, many, credit unions have low interest, no balance transfer fee, no cash advance fee, non-rewards platinum cards. Take a look, e.g., at Hanscom, Unify, Digital, Evansville Teachers, Chartway, PenFed, Lake Michigan, Navy Federal, and Garden Savings.
Also there are probably more restricted credit unions for which you can qualify by reason of (a) geography or (b) affiliation, which also have excellent cards of that nature.
...but if your kiddos are accident prone Care Credit and do a bal. transfer later. JK! @SouthJamaica
@GApeachy wrote:This has nothing to do with Cashback but just an idea/thought:
Being you need surgery and being you need to buy for lots of kiddos, have you considered Care Credit? Idk how much you know about that card and whether or not you'd be interested in a store card (promotional deferred int. pymts guaranteed by x amt of months/ possiblity of invite to pc up to a MC is remote but not out of the ?) but it would help along those lines in the near future with spend anyway. Walmart-all baby supplies and toys you can swipe, all personal hygiene products you can swipe; everything at Walgreens swipe away....none are promotional deferred but every little bit helps. The promotional deferred pymts. depends on who you have surgery with and how they are signed up so you would want to call the dr.s office to see if they are apart of that network and how long they can run your procedure for.
Congrats on your recent approval!
Thanks. I didn't even realize the CareCredit was a CC. I'd seen it mentioned before, but assumed it was a loan. I think I'd prefer a loan.
The Walmart MC is on my list of things to consider, though I haven't yet looked to see what percentage of our spending goes there specifically.
@Anonymous wrote:Thanks. I didn't even realize the CareCredit was a CC.
The only reason I suggested is because I'm picturing you with the "Brady Bunch" and all needing braces at the same time while your eye is patched. Kiddos are like billygoats ramming their heads into any and everything. Ya never know. But this is a Store Card that grows by leaps and bounds. Not trying to talk you into it but I tell everyone with kids esp. or needing surgery and wanting easy, convenient pymts options for the time being.
..and unlike a loan you can avoid int and continue to use it over and over and over. Okay, I'll stop now. Good luck with your big fam and big, shiny new card.
It seems like it would be a good deal in certain situations. I'm a little unclear as to what purchases qualify for what interest rates or interest-free promotions.