My husband currently has only 2 cards, 1 Cap 1 Platinum 100/3100 and Overstock 0/1000. He is also an AU on my CSP 900/5000. Current FICO scores: 756 EX, 677 EQ, 749 TU. EQ has a very old charge off, which is due to fall off in 3 weeks.
Mortgage will be added to report soon, not sure when. Loan balance 402K with approx 90K in equity. ($2700 piti)
Car Loan 1 (16 months, perfect payments) 13000+/- remaining ($290 payment)
Car Loan 2 (Not yet reporting) 10,500 ($225 payment)
Household Income: $135,000 (this is the low end which we use for applications, I make tips so income is typically much higher, but we can safely rely on the 135K)
DTI approx: 31%
He app'd for Citibank and Chase and denied for both. Chase did a recon, had a 2 week message but this morning it went to 7-10 days 
We are sending a recon letter to Citibank, but not expecting much there.
We'd really like to build his revolving credit profile. Not worried so much about overall limits, we typically pay in full on all cards each month. Just want some better cards with rewards.
Inquiries:
23 EX (5 Mortgage, 6 Auto, 2 credit card -Citi and JCMCB- within past 6 months, remain 10 over a year old)
13 TU (5 Mortgage, 6 Auto, 1 JCMCB - within 6 months, remaining 1 over a year old)
13 EQ (5 Mortgage, 6 Auto - within 6 months, remaining 2 over a year old)
We were approved for $38,000 Aven Heloc Visa but haven't accepted yet, so far I don't like the reviews. (Soft inquiries with Final Offer still pending on our side)
So, basically, looking for recommendations for a good credit card (0 apr would be great), cash back or travel points preferred.
Our ultimate plan is to remodel our guest house, which we estimate around 35K. We would like use a new card for the purchases and PIF to enjoy the cash back or reward points. I was looking at American Express Blue Cash Preferred or AMEX Blue Cash Everyday for him, but not sure how AMEX is with high inquiries. He does not have a prequal offer on AMEX website :/
Thoughts? Recommendations?
@C-Hawk wrote:My husband currently has only 2 cards, 1 Cap 1 Platinum 100/3100 and Overstock 0/1000. He is also an AU on my CSP 900/5000. Current FICO scores: 756 EX, 677 EQ, 749 TU. EQ has a very old charge off, which is due to fall off in 3 weeks.
Mortgage will be added to report soon, not sure when. Loan balance 402K with approx 90K in equity. ($2700 piti)
Car Loan 1 (16 months, perfect payments) 13000+/- remaining ($290 payment)
Car Loan 2 (Not yet reporting) 10,500 ($225 payment)
Household Income: $135,000 (this is the low end which we use for applications, I make tips so income is typically much higher, but we can safely rely on the 135K)
DTI approx: 31%
He app'd for Citibank and Chase and denied for both. Chase did a recon, had a 2 week message but this morning it went to 7-10 days
We'd really like to build his revolving credit profile. Not worried so much about overall limits, we typically pay in full on all cards each month. Just want some better cards with rewards.
Inquiries:
23 EX (5 Mortgage, 6 Auto, 2 credit card -Citi and JCMCB- within past 6 months, remain 10 over a year old)
13 TU (5 Mortgage, 6 Auto, 1 JCMCB - within 6 months, remaining 1 over a year old)
13 EQ (5 Mortgage, 6 Auto - within 6 months, remaining 2 over a year old)
We were approved for $38,000 Aven Heloc Visa but haven't accepted yet, so far I don't like the reviews. (Soft inquiries with Final Offer still pending on our side)
So, basically, looking for recommendations for a good credit card (0 apr would be great), cash back or travel points preferred.
Our ultimate plan is to remodel our guest house, which we estimate around 35K. We would like use a new card for the purchases and PIF to enjoy the cash back or reward points. I was looking at American Express Blue Cash Preferred or AMEX Blue Cash Everyday for him, but not sure how AMEX is with high inquiries. He does not have a prequal offer on AMEX website :/
Thoughts? Recommendations?
You mentioned the Amex BCP, and that happens to be my favorite card! I love it and highly recommend it. For me, its $95 annual fee is well worth it just for the 6% cash back on groceries. It has plenty of other benefits/perks, too, but the CB on groceries is my biggest draw. I upgraded it from the BCE...so that should tell you what I think about them both! 
As for remodeling your guest house, you're estimating $35,000 for it but you'd probably do well to expect [a lot] more. I'm in the middle of a months-long project (remodeling, renovating, refinishing hardwood floors, painting, etc.), and at every step of the way there have been more expenses than originally expected. This isn't unique to me by a long shot. Many people experience this, so just a heads-up to be aware going in that you may need to think in larger terms when it comes to its overall cost, or you may end up unpleasantly surprised.
@C-Hawk wrote:My husband currently has only 2 cards, 1 Cap 1 Platinum 100/3100 and Overstock 0/1000. He is also an AU on my CSP 900/5000. Current FICO scores: 756 EX, 677 EQ, 749 TU. EQ has a very old charge off, which is due to fall off in 3 weeks.
Mortgage will be added to report soon, not sure when. Loan balance 402K with approx 90K in equity. ($2700 piti)
Car Loan 1 (16 months, perfect payments) 13000+/- remaining ($290 payment)
Car Loan 2 (Not yet reporting) 10,500 ($225 payment)
Household Income: $135,000 (this is the low end which we use for applications, I make tips so income is typically much higher, but we can safely rely on the 135K)
DTI approx: 31%
He app'd for Citibank and Chase and denied for both. Chase did a recon, had a 2 week message but this morning it went to 7-10 days
We'd really like to build his revolving credit profile. Not worried so much about overall limits, we typically pay in full on all cards each month. Just want some better cards with rewards.
Inquiries:
23 EX (5 Mortgage, 6 Auto, 2 credit card -Citi and JCMCB- within past 6 months, remain 10 over a year old)
13 TU (5 Mortgage, 6 Auto, 1 JCMCB - within 6 months, remaining 1 over a year old)
13 EQ (5 Mortgage, 6 Auto - within 6 months, remaining 2 over a year old)
We were approved for $38,000 Aven Heloc Visa but haven't accepted yet, so far I don't like the reviews. (Soft inquiries with Final Offer still pending on our side)
So, basically, looking for recommendations for a good credit card (0 apr would be great), cash back or travel points preferred.
Our ultimate plan is to remodel our guest house, which we estimate around 35K. We would like use a new card for the purchases and PIF to enjoy the cash back or reward points. I was looking at American Express Blue Cash Preferred or AMEX Blue Cash Everyday for him, but not sure how AMEX is with high inquiries. He does not have a prequal offer on AMEX website :/
Thoughts? Recommendations?
Yeah the BCE would be a good choice. Amex isn't particularly sensitive to inquiries, and it's more user friendly than Chase and Citi. For me Amex pulled EX.
As @Kforce brilliantly points out, the BCP isn't really a 6% grocery card because there's a 6k annual cap on the 6%, after which it pays 1%, and you have to factor in the $95 annual fee.
I'm not saying it's a bad card, just pointing out @Kforce 's cold reality shower.
If your husband gets the BCE, Amex will probably eventually get around to extending an offer to upgrade to the BCP, at which time the SUB might be a sufficient enrichment to make it worthwhile.
Thank you all for the input. I am going to tell him to hold off on the Amex app until the charge-off is gone in July.
SoCalGardener - Lol, the thought of higher costs and surprises had briefly crossed my mind. I appreciate the input, hopefully we can stay near the 35k amount. I have other projects I'd prefer to put money into 
I think the guest house is least important on my list, but higher up on hubby's...c'est la vie
@SouthJamaica wrote:Yeah the BCE would be a good choice. Amex isn't particularly sensitive to inquiries, and it's more user friendly than Chase and Citi.
I agree. I didn't burn Amex and they let me back in with the same card with 10x the limit. Not even gonna attempt a Chase or Citi app until the baddies fall off next year.
Waste of time... and I didn't burn them either.
@C-Hawk wrote:Thank you all for the input. I am going to tell him to hold off on the Amex app until the charge-off is gone in July.
SoCalGardener - Lol, the thought of higher costs and surprises had briefly crossed my mind. I appreciate the input, hopefully we can stay near the 35k amount. I have other projects I'd prefer to put money into
You know, I'm always hearing about remodeling projects that take longer than expected, cost more than expected, turn up various surprises, etc., but until starting this one I hadn't seen too much of that myself. Now I've seen a lot! What happens most is that one thing leads to another--you start out planning to do X, but once started you realize that Y and Z should also really get done. And you're off and running! 
Hopefully you'll be able to stay on-budget....
@C-Hawk wrote:My husband currently has only 2 cards, 1 Cap 1 Platinum 100/3100 and Overstock 0/1000. He is also an AU on my CSP 900/5000. Current FICO scores: 756 EX, 677 EQ, 749 TU. EQ has a very old charge off, which is due to fall off in 3 weeks.
Mortgage will be added to report soon, not sure when. Loan balance 402K with approx 90K in equity. ($2700 piti)
Car Loan 1 (16 months, perfect payments) 13000+/- remaining ($290 payment)
Car Loan 2 (Not yet reporting) 10,500 ($225 payment)
Household Income: $135,000 (this is the low end which we use for applications, I make tips so income is typically much higher, but we can safely rely on the 135K)
DTI approx: 31%
He app'd for Citibank and Chase and denied for both. Chase did a recon, had a 2 week message but this morning it went to 7-10 days
We'd really like to build his revolving credit profile. Not worried so much about overall limits, we typically pay in full on all cards each month. Just want some better cards with rewards.
Inquiries:
23 EX (5 Mortgage, 6 Auto, 2 credit card -Citi and JCMCB- within past 6 months, remain 10 over a year old)
13 TU (5 Mortgage, 6 Auto, 1 JCMCB - within 6 months, remaining 1 over a year old)
13 EQ (5 Mortgage, 6 Auto - within 6 months, remaining 2 over a year old)
We were approved for $38,000 Aven Heloc Visa but haven't accepted yet, so far I don't like the reviews. (Soft inquiries with Final Offer still pending on our side)
So, basically, looking for recommendations for a good credit card (0 apr would be great), cash back or travel points preferred.
Our ultimate plan is to remodel our guest house, which we estimate around 35K. We would like use a new card for the purchases and PIF to enjoy the cash back or reward points. I was looking at American Express Blue Cash Preferred or AMEX Blue Cash Everyday for him, but not sure how AMEX is with high inquiries. He does not have a prequal offer on AMEX website :/
Thoughts? Recommendations?
I think you should have him apply for the FNBO Evergreen card if it's available for your area. I think his profile is perfect for it and you can fill out a prequalification page to find out if he has a good chance. It pulls EX. It's a 2% cash back on everything card and credit limits are commonly up to 15k to start. 12 months at 0% interest. I've received 2 CLI's in the last 12 months since picking up the card. Good luck on your remodel!