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One or both?

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One or both?

I'm looking at applying for a couple of cashback cards (the Uber one that gives 4% for restaurants/dining, and one from Ducks Unlimited/FNBO that gives 5% for gas), but I'm just after opinions as to whether it will be better to apply for both at the same time, or do one, wait for age of credit etc to improve again, then apply for the other.

 

I know that there will be a double hard pull for the applications, which will be a score decrease, and there will be a noticeable decrease in age of accounts. Given I have a relatively short credit history (2 1/2 years average age of open accounts, youngest account at 9 months, three open accounts at around a year (CC, Lowes store card, HELOC), mortgage at just under 3 yrs, and a joint CC with just over 7 years), should I wait on one, or even both for a bit? Are there any other considerations I should be aware of?

 

Based on Credit Karma:

TU is 757, 1 HP.

Equifax is 756, 2 HPs.

 

Based on my bank:

FICO9 (Experian) is 810, not sure of HP number.

Message 1 of 12
11 REPLIES 11
Community Leader
Super Contributor

Re: One or both?

Please specify which cards you are referencing or you will have a this card or that post. Also note when asking for other considerations, you are opening the door to peoples opinions in regards to either these cash back cards or others. Imo, nothing wrong with people offering their views on credit cards as without such we cant take what information applies best to us. Good luck on your application(s)Smiley Happy
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Message 2 of 12
Established Member

Re: One or both?

That's a fair point... not sure why I didn't explicitly say which cards! You guys here would certainly be able to tell me whether they are good ideas or not!

 

I was looking at the Uber card for restaurants/dining cashback, and the Ducks Unlimited card for the 5% on gas. They seem to be the highest permanent returns in those two categories that I've found.

Message 3 of 12
Community Leader
Valued Contributor

Re: One or both?

I would probably go for the Ducks first. FNBO is known for being conservative and not liking inquiries. I think going for them both is acceptable though and if you spend a good amount on gas and dining/entertainment, these cards will be great for you.

I see you live in Wherever. Some of my relatives live there. It’s nice.
Discover It: 19.7k
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Message 4 of 12
Established Member

Re: One or both?

Good to know about FNBO. Thanks!

 

Based on our monthly budgets, I think that we should be expecting $40-50 a month back from both cards. Not a huge amount, but it's better than nothing!

 

And yes, wherever is nice. Sometimes the weather's whatever, but whenever it gets nice, it's nice. Smiley Happy

Message 5 of 12
Community Leader
Valued Contributor

Re: One or both?


@Jon_in_wherever wrote:

Good to know about FNBO. Thanks!

 

Based on our monthly budgets, I think that we should be expecting $40-50 a month back from both cards. Not a huge amount, but it's better than nothing!

 

And yes, wherever is nice. Sometimes the weather's whatever, but whenever it gets nice, it's nice. Smiley Happy


Do you by any chance write Dr Seuss books? Lol good luck with the cards. I would think that with your scores and history you’d be able to get them both. 

Discover It: 19.7k
Amex BCE: 18k
Citi DC: 5.7k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 6 of 12
Established Member

Re: One or both?

Just put the application in for the FNBO/Ducks one. Fingers crossed!
Message 7 of 12
Regular Contributor

Re: One or both?

🤞🤞🤞
Let us know what happens!
Message 8 of 12
Established Member

Re: One or both?

Well, I'm back. Applied for FNBO, rejected due to an outdated link. No pulls. So, found the up to date link, reapplied, rejected due to a "thin credit file" (as mentioned in the first post, I have 3 credit cards (one joint), 1 mortgage, 1 HELOC, 2 1/2 yr age of open accounts, youngest at 9 months, oldest at 7 years). Gave up.

 

Applied for Uber card, instant approval, 9k limit, raising total credit available (not counting HELOC and joint account) to 30k. It's a start! 

Message 9 of 12
Frequent Contributor

Re: One or both?

Congrats on the Uber card and the fantastic SL!


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Message 10 of 12
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