I've been looking at getting a 2% cb card and would like to apply for one after we close on our house next week. It's the only thing I feel needed for my setup.
I've looked at Citi, but have no prequalified offers. Unsure how accurate that may be.
I last applied for PenFed PCR last April with much lower scores and was denied. Maybe I should try here again? They show my EQ9 as 710 now. This would be my most preferred card as I do most of my banking with them.
It's also possible I just may not have good enough scores, and need to garden more/wait for inqs to fall off. My last app was in Nov. (soft pull Green) I am fine with this option too, I'm not in a rush.
Just wondered if anyone may have thoughts on this. Also, my Cap1 QS does get 1.5%... is that extra .5 worth the app? Currently that card is sockdrawered
Starting Score: 580s
I think everyone should have a 2% minumum CB card at the very least. But since there are plenty of options out there, consider one with even better perks. Pick one that has a nice Welcome Bonus like the WF AC ($200). Maybe pick one that offers more than 2% in a particular category like the PayPal CB MC offering 3% on PP checkout. Consider one that might be slightly better than 2% like the upgrade Elite (2.2%) or the citi Double Cash (2.22% when paired with a Rewards+ card up to $100/year). Or, how about the 2.5% Alliant if you can jump through a few hoops? Good luck! 
@ptatohed wrote:I think everyone should have a 2% minumum CB card at the very least. But since there are plenty of options out there, consider one with even better perks. Pick one that has a nice Welcome Bonus like the WF AC ($200). Maybe pick one that offers more than 2% in a particular category like the PayPal CB MC offering 3% on PP checkout. Consider one that might be slightly better than 2% like the upgrade Elite (2.2%) or the citi Double Cash (2.22% when paired with a Rewards+ card up to $100/year). Or, how about the 2.5% Alliant if you can jump through a few hoops? Good luck!
Thanks for the reply. I knows there's several threads about this lol. good point about welcome bonus.
Im not prequalified for any WF cards either. Maybe I'll just wait it out.. and keep poking around the forums for more data on WF/Citi prequals. Wasting a HP isn't the biggest of deals, but I'd like to save one if I can lol.
@Chazzay12 wrote:I've been looking at getting a 2% cb card and would like to apply for one after we close on our house next week. It's the only thing I feel needed for my setup.
I've looked at Citi, but have no prequalified offers. Unsure how accurate that may be.
I last applied for PenFed PCR last April with much lower scores and was denied. Maybe I should try here again? They show my EQ9 as 710 now. This would be my most preferred card as I do most of my banking with them.
It's also possible I just may not have good enough scores, and need to garden more/wait for inqs to fall off. My last app was in Nov. (soft pull Green) I am fine with this option too, I'm not in a rush.
Just wondered if anyone may have thoughts on this. Also, my Cap1 QS does get 1.5%... is that extra .5 worth the app? Currently that card is sockdrawered
I have both cards, and yes I prefer the PenFed Power Cash. The only drawback to it is that in order to get 2% cash back you need to either maintain a minimum checking account balance of $500 or more, or make $500 or more monthly direct deposits into your checking account (but direct deposit is loosely defined and includes ACH transfers from your own external accounts).
An advantage of the Double Cash is that it's possible to generate more than 2% return, by (a) maintaining a Premier card, (b) transferring your ThankYou points from the DC to the Premier card, and (c) using the TY points for exchanges to travel partners.
Look into FNBO as well. I have the Evergreen CC that's 2%, and if I recall, there was an introductory 3% CB in the first 90 days or something like that, and the usual 0% APR for 12 months.
More importantly you can check for pre-approval with potential limit stated upfront, and the CL can grow quickly.
@SUPERSQUID i believe the reason for denial back then was presence of derogs/time accounts were established. Maybe now as my in good standing accounts have aged I'll see some better luck.
Thank you all for the advice! I'll check out Evergreen too. I'm not as interested in moving points around, etc to get the "best" deal, but more of a simplictic guy.
@Chazzay12 wrote:Thank you all for the advice! I'll check out Evergreen too. I'm not as interested in moving points around, etc to get the "best" deal, but more of a simplictic guy.
There are a lot of great options mentioned in this thread already; however, when you said you're more of a simplistic guy, I immediately thought of the Fidelity Visa credit card as one you might want to check out. It is issued through Elan Financial Services (they're owned by US Bank) and it does 2% cash back when you redeem the rewards to an eligible Fidelity account.
I'm a pretty content person in life, so I don't have a lot of desire to manage my cash back or point earnings. For me, it just makes sense to let the rewards smoothly slide into my investing and retirement accounts, as the funds are automatically redeemed to whatever Fidelity account I choose after they hit a certain points threshold. The process gives me some nice "set it and let it grow" vibes.
Good luck on your closing next week!
PenFed currently has pre qualify links live on their credit card website so you could see if you pre qualify for the PCR 2% without a hard pull with them, and if you do it should show you a credit limit you may qualify for as well. There are many 2 percent options out there so you will find one for sure and good luck
