Should I wait another year for a new card?

[Creditsen]

I just hit my 1 year anniversary from 4 credit inquiries for my auto loan. My credit score bumped up a little but I'm still under 800. Should I wait another year before applying for a new card? As far as new card options...I'm thinking of the paypal card because I buy most things via paypal. Unless I have a 5% rotating category in Paypal for disco or chase freedom I feel like I'm missing out on cash back. A few other cards I'm interested in are US bank cash+ and Citi Custom Cash card. If anyone has any other card suggestions please send them my way!

[MySunrise271]

Well, I would say you need a 'catch all' 2% cashback card for sure, so Citi DC or if you have lots of Paypal purchases, that card could fit nicely in your growing portfolio😊

[Creditsen]

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@MySunrise271 wrote:

Well, I would say you need a 'catch all' 2% cashback card for sure, so Citi DC or if you have lots of Paypal purchases, that card could fit nicely in your growing portfolio😊

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That's a good point. I don't have a 2%. Do you have thoughts on the Fidelity Rewards card?

[MySunrise271]

highly recommend it if you have an account currently or are willing to establish one to qualify for the card👌😊Very good card to set and forget with rewards automatically swept into your designated account,  Mine goes into my Roth IRA, and once at $100 I purchase shares in an index fund. Very happy with this card and they have been generous with the SL and CLI in the short 9 almost 10 months I've had the card.

[Mdowning30]

I agree on getting the Fidelity card if you already have a relationship with them or even thinking about them, over a Citi card. You also have the WF active cash.

[Suzette2]

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@Creditsen wrote:
I just hit my 1 year anniversary from 4 credit inquiries for my auto loan. My credit score bumped up a little but I'm still under 800. Should I wait another year before applying for a new card? As far as new card options...I'm thinking of the paypal card because I buy most things via paypal. Unless I have a 5% rotating category in Paypal for disco or chase freedom I feel like I'm missing out on cash back. A few other cards I'm interested in are US bank cash+ and Citi Custom Cash card. If anyone has any other card suggestions please send them my way!

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How about the amex BCP? 

[C6]

Why not apply for the Alliant Visa. You get 2.5% back on everything. The Paypal MC leans to the subprime and with a 750+ score you can do better.

[Anonymalous]

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@Creditsen wrote:
I just hit my 1 year anniversary from 4 credit inquiries for my auto loan. My credit score bumped up a little but I'm still under 800. Should I wait another year before applying for a new card? As far as new card options...I'm thinking of the paypal card because I buy most things via paypal. Unless I have a 5% rotating category in Paypal for disco or chase freedom I feel like I'm missing out on cash back. A few other cards I'm interested in are US bank cash+ and Citi Custom Cash card. If anyone has any other card suggestions please send them my way!

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Your scores are fine, anything over 760+ is mostly just padding. If you're interested in the Cash+, you might want to prioritize it because US Bank is very sensitive to new accounts (anything over 1/12 is usually a no). Though you could consider the Elan Max Cash Preferred, which is basically the same card (Elan and USB are sister companies under the US Bancorp umbrella), but with a slightly lower SUB ($150 instead of $200), is offered through other banks/credit unions instead of through Elan directly, has a couple minor changes (e.g. don't have to activate the categories every quarter), and is slightly more forgiving when it comes to new accounts (maybe 2/12 instead of 1/12).

The Custom Cash is switching from a SUB of $200 with $750 spend to $200 with $1,500 spend, but you might be able to get the older lower requirements through CK or one of the other websites that work as affiliates.

If you use PayPal a lot, that's clearly the the best 2% in everything else card for you, at least when it comes to rewards. The downside is that it's issued by Synchrony, which some posters don't like. The Fidelity 2% card is also nice, and is issued by Elan.

[arifjk]

If you use a lot of PayPal, then get the PayPal MC Synchrony since it will give you 3% if you pay using Paypal button or 2% if you just use the card. 

But if you want to have a catch-all via US Bank, then you must apply US Bank FIRST before anything else due to their particular credit underwriting. Then if you want to get any Chase, do that next due to 5/24 requirement. After that, you can do Citi and then PayPal Synchrony last. 

People have issues with Synchrony since they like to do CLD or account closures without notice if they feel that your credit change drastically or non-activity or anything they feel like it. I have their card, and I do like their card. They surprised me with an auto CLI last month. So for me, I don't have any issues with Synchrony so far. {knock on woods}

[SouthJamaica]

Another issue with Synchrony is that they are known to randomly report intra-cycle balances to the credit bureaus.