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What next?

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New Visitor

What next?

Hey, I have around 660 scores all around and was just approved for a Citi Double Cash Card. I have two Capital One cards, one is secured with a $500 limit, and the other is a QS1 with $500 as well. I'm planning on cancelling the secured as they won't unsecure it. Should I stick with Capital One or apply somewhere else, and if so where? Thank you.

7 REPLIES 7
Regular Contributor

Re: What next?

I would steer clear of Capitol One for the time being. Each application is a triple pull (an inquiry on EACH bureau) and they sure do like to bucket their starter/rebuilders which end up stuck with low limits forever. Which card you pursue next really depends on your needs. Citi DC is a good all around card since it's effectively 2% on all purchases. Discover and American Express are usually friendly to thin files. Discover IT is 1% cashback on regular purchases, 5% cashback each quarter on rotating catagories and they will match all your cashback after the first year. Identify your important spend catagories and choose a card accordingly. Gas? Dining? Travel? Where will you see the most benefits?

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Message 2 of 8
Super Contributor

Re: What next?


@Sooner21 wrote:

Hey, I have around 660 scores all around and was just approved for a Citi Double Cash Card. I have two Capital One cards, one is secured with a $500 limit, and the other is a QS1 with $500 as well. I'm planning on cancelling the secured as they won't unsecure it. Should I stick with Capital One or apply somewhere else, and if so where? Thank you.


My advice would be

1. Don't cancel the Cap One secured card, just hold on to it for now.

2. Don't get any more cards with Cap One.

3. Let us know what you would be looking for in your next credit card, and we can give you recommendations. If you're looking for another cash back card, Amex Blue Cash Everyday and Discover IT are possibles. You might be better off waiting for awhile until your scores climb up a bit.


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 3 of 8
New Visitor

Re: What next?

Honestly I'm not looking for anything in particular, just trying to raise my CL so that if I purchase textbooks on them the utilization won't be sky high. My AAoA is sitting around 3 years now, but Cap One would not budge on a CLI not sure why. I've looked at prequals for AMEX and Disco but nothing was offered. Should I still apply anyways?

Message 4 of 8
Super Contributor

Re: What next?


@Sooner21 wrote:

Honestly I'm not looking for anything in particular, just trying to raise my CL so that if I purchase textbooks on them the utilization won't be sky high. My AAoA is sitting around 3 years now, but Cap One would not budge on a CLI not sure why. I've looked at prequals for AMEX and Disco but nothing was offered. Should I still apply anyways?


I would say that your chances are 50/50 with either of those cards. So it's your call.

 

 


Total revolving limits 720500 (594000 reporting) 10/2/19 FICO 8 scores: EQ 744 TU 782 EX 746
Message 5 of 8
New Contributor

Re: What next?

Captial One-Whats NOT in you're wallet? 

 HAHA! Funny pun. 

 

I would stay away from CAP One! CITI is a great credit company that provides generous credit limits. 

Message 6 of 8
Regular Contributor

Re: What next?

*IF* you're an Amazon prime member (check out the discounted student membership!) and *IF* your textbooks are available on Amazon (most of mine are and are cheaper than the campus store) it may be worth it to consider the Amazon Prime STORE Card by Synchrony (not the Chase version) for the 5% cashback on Amazon. Now there is the  Chase Amazon Prime Visa as well (5% cashback on Amazon and at Whole Foods, 2% cashback on gas and dining, 1% cashback everything else) BUT  Chase can be a tough nut to crack for some. Chase wants at least a 1 year history, minimal inquires and less than 5 new accounts in the past 24 months. Synchrony tends to be much easier approvals. Just a thought. The Synch store card can only be used on Amazon whereas the Chase Visa can be used anywhere Visa is accepted. 

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Message 7 of 8
Valued Contributor

Re: What next?

What's your current UTI? Also, do you have any baddies/derogs? Definitely would need more info to help guide you. 660 score either shows a high UTI or baddies.


Scores - All bureaus 750 +/-
TCL - Est. $275K
Message 8 of 8
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