Looking for 2nd Card. CSP/Venture chances??

[Anonymous]

Hello, 

I'm looking into getting a second credit card mainly to build credit, and also because I don't like my current card's rewards. I currently have a Discover It card with a 5k limit that's about 10 months old with no negatives. No other credit history.

The big reason why I want to change cards is because I realized that the discover rotating categories are not that great. Most of my money is spent on restaurants/food and travel. Also, since I don't own a car, when the category switches to gas, I get 0 benefit from using Discover over any other cash back card. I've actually calculated my ytd cash back percentage at 1.3%, which I feel like I could do better than.

The other reason is that I recently moved half way across the country for work and plan to visit home every now and then, so having a travel card would be nice. My friend recently recommended the Chase Sapphire Preferred card since you get double points on travel and restaurants which I think I spend most of my money on. 

And the sign up bonus for CSP/Venture sounds really nice.

My transunion score (from discover) is around 710 (Just dropped last month from 750 since my utilization was too high, but I just got my credit limit increased to 5k from 2k, so that won't be a problem anymore)
The other two are around 20 points higher than my fico so around 730 probably 

I spend around 1.5-2k a month. Rent is around 900 and income is >50k.

What do you think my chances are for getting the CSP or Cap1 Venture (not Venture one)? Or any other advice/comments?
Thanks!

[Anonymous]

check the prequal site and see what's there

what's your AAoA? they like a few years of credit card experience for the CSP

[Anonymous]

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@Anonymous wrote:
check the prequal site and see what's there

what's your AAoA? they like a few years of credit card experience for the CSP

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I already did the prequal and didn't prequal for anything, so it seems CSP is unlikely. As for my AAoA, since my Discover card is the only form of credit I've ever had, itAAoA would be ~10 months.

What other cards with similar travel rewards/sign bonus would be recommended? Preferably VISA. Thanks again!

[Anonymous]

travel cards are typically a little harder to get, and with your situation, it'll be a bit of a challenge but not to say it's impossible. i just think 10 months is a little short.

there are some cash back cards you can get that can be a temporary fix for the next year or two until you get solid history though

[Anonymous]

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@Anonymous wrote:
travel cards are typically a little harder to get, and with your situation, it'll be a bit of a challenge but not to say it's impossible. i just think 10 months is a little short.

there are some cash back cards you can get that can be a temporary fix for the next year or two until you get solid history though

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Do you have any thoughts on the Citi Double cash card and the capital one quicksilver rewards (VISA) card? I figure if I get another cash back card, it has to be a flat rate card.

Also if anyone else has any comments on the CSP or cash back cards, they would be greatly appreciated. Thanks!

[Anonymous]

i know citi likes clean reports but idk how thick or thin files need to be so hopefully we get some more input here soon. QS is a possibility

[Discover2016]

I got my Sapphire Preferred at only 10 months of credit history, so you don't always need a few years of credit history.

[Anonymous]

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@Discover2016 wrote:

I got my Sapphire Preferred at only 10 months of credit history, so you don't always need a few years of credit history.

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Whoa. Do you mind sharing other info about your credit profile when you were approved? That is encouraging, regardless!

[Discover2016]

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@Anonymous wrote:

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@Anonymous wrote:
travel cards are typically a little harder to get, and with your situation, it'll be a bit of a challenge but not to say it's impossible. i just think 10 months is a little short.

there are some cash back cards you can get that can be a temporary fix for the next year or two until you get solid history though

---

Do you have any thoughts on the Citi Double cash card and the capital one quicksilver rewards (VISA) card? I figure if I get another cash back card, it has to be a flat rate card.

Also if anyone else has any comments on the CSP or cash back cards, they would be greatly appreciated. Thanks!

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I also got my Citi DC with 10mo of credit history, it's a great card and one of my fav. The only way to know honestly is to just apply for CSP/DC and see what happenes. That's what I did, I never thought I could get a CSP, then I just applied and was approved.

[Discover2016]

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@Anonymous wrote:

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@Discover2016 wrote:

I got my Sapphire Preferred at only 10 months of credit history, so you don't always need a few years of credit history.

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Whoa. Do you mind sharing other info about your credit profile when you were approved? That is encouraging, regardless!

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Sure I will be glad to help. When I applied for my Sapphire I had 6 inquiries, util was 12% and my oldest account was 10 months old at the time. I also didn't have any credit line above $5,000. So it's not necessary to have a large credit line to get Sapphire which is minimum $5,000.