Which card(s) to apply for?

[Meskini]

Hello, I opened my rebuilder cards last december (capitalone secured, US Bank secured, discover secured, and capitalone QS one). I have a clean file with no baddies and my scores improved considerably. I think it's now EX 704, TU 743 (not sure about EQ).
I want to get better cards even i think I'm still bkacklisted by Chase, Citi, Amex and BOA since 2009? I will try Amex anyway because if I'm still on their blacklist they won't HP my report.

Any suggestions on what cards to apply for next month? I'm thinking about Penfed, Capitalone Venture maybe? And another discover?
My current cards didn't grow that much except for discover from $400 to $1750. The rest Capitalone secured $700, QS1 $500, and US Bank $400. With such low lines i can't really use them that often.

I really appreciate any suggestions.

[Anonymous]

Hey,

Well, you mentioned that you think that you are blacklisted by Chase, Citi, Amex and BofA. I mean, you did not tell us the why, haha! Why do you think that you are blacklisted? Did you miss some payments? What was the situation? That would help us a lot so we can help you!

You can check your credit report through a bunch of websites like credit karma and so on, there you will be able to see if these "deliquencies" are still in your profile, if they show there, then the banks will be able to see them as well.

I would apply for cards that you already have a "good" relationship with, such as Capital One, US Bank and Discover (as you mentioned) because they are more likely to give you a credit card + a reasonable credit line BUT if you don't get the CL that you were hoping for, don't get upset, they might see it as you are still rebuilding your credit profile/report/score. 

The Capital One Venture is a good option but for $95 I would go with the Chase Sapphire Preferred (unless you spend a lot of money in hotels as the Venture card offers 10x back on hotels.com).

Discover has a pretty interesting sign up bonus that, if you actually use the card a lot, you can make some good money out of it. I have the Discover it Miles but its a sock drawer card.

I just want to comment that you mention that your credit cards have "low credit lines" and that's why you can't use them as much. Well, you can always pay them off before the statement closes so you have more credit available! It looks like your highest credit line is $1750 (Discover) so, UNLESS you have such large purchases EVERYDAY that involves using 100% of your credit line, you should be totally fine as the right way of using a credit card is: "Use them to pay for everything as long as you have the money available on your checkings account".

If you want more than $1750 only because you want to be able to charge more to your credit card, you gotta make sure that you have money to pay your total balance. 

Sorry, I don't mean to lecture you on how to use your credit cards, this is more like an advice. Unless you are charging significantly amounts to your credit card everyday (over $1750), you don't need a higher credit line. If you want a higher credit line to decrease your utilization ratio, that would be completely different. I hope I was helpful!

[CreditInspired]

Op

Since 3 of 4 cards are secured with low limits, this seems to lend to a file that may still have some issues. So before you can get better cards with higher limits, you first need to know your 3 FICO scores. I think what you listed may be Vantage scores.

You say no baddies, so are you saying since 2009, no lates, no BK, no liens, etc.?

Does your income support higher limit cards?

What is your UT on those 4 cards?

Before we can make suggestions, we need more info.

[Meskini]

I had COs when I was younger that were never paid and the last one fall off of my report last March. I use my current cards and pay the full balance except for that report low balance usually around $50 1% utilization. I can use larger lines for bigger purchases that I'm willing to pay in full.
My scores are fico 8: TU 742, EX 704. Vantage score is 743. I think the difference is mainly because of last year apps.
I want to get better cards so i can close Capitalone secured, US Bank secured and QS1 because i dont think they will grow.

My income is $120k.

[RonM21]

Not sure if I missed this, but do you still have negatives reporting? I don't think it would be too bad of an idea to try the Credit Union route for a new card. They tend to be a bit more generous but ymmv. The thought of working with lenders you already have makes sense to. In some of those cases, it could just be a matter of you upgrading to an unsecured.