Cash back card question/recommendation

[ambitiouscat79]

Hello,

I am currently working on building my credit which has gone from 580 to the low 700s for all three bureaus in the last two years.

Over the last year I've picked up some good cards like the AMEX Gold and BCP, as well as US Bank Cash+ am looking for an all around flat rate cash back card for miscellaneous expenses.

I have one collection back to 2018 which is still open and trying to figure out how to resolve or negotiate, but in the mean time have been looking at things like the Citi Double Cash and SoFi...  

Last card was the Gold in June 2021 and my intention was to garden for a while since I also need to land an auto loan in the next year - but it would be nice to leverage some type of rewards during the holiday season, not sure if the pros outweigh the cons.

thoughts?

[ambitiouscat79]

Hi,

It seems that the SoFI application is a soft pull to check to see if they will approve, and from what I've read, hard pull if approved.

Is it like Apple Card (Goldman Sachs) where it allows the customer to decide whether or not to accept credit card terms before turning it into a hard pull?  

SoFi is not my preferred choice but I wasn't sure if I could shop around and see what I might be approved for before checking other issuers

[OmarGB9]

I believe it is similar to the Apple Card, yes. However I will let others who have/have applied for this card answer. 

As for your last statement. If SoFi isn't your preferred choice, I wouldn't bother even trying to go for it, because even if you were to get approved, you obviously wouldn't be all that thrilled. Personally, I wouldn't just settle for whatever I could get. I'd hold off and work on my credit report to qualify for better/actual desired cards later down the road. It would save you an HP and a new account ding.

[Loquat]

Are you looking for a flat rate cash back card (2% everywhere) or are you looking to maximize specific categories?

[sugarcreek67]

When I applied for the Sofi card, once I submitted it,  it came back with an approval. No choice for me to accept or decline. 

[FinStar]

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@ambitiouscat79 wrote:

Hi,

It seems that the SoFI application is a soft pull to check to see if they will approve, and from what I've read, hard pull if approved.

Is it like Apple Card (Goldman Sachs) where it allows the customer to decide whether or not to accept credit card terms before turning it into a hard pull?  

SoFi is not my preferred choice but I wasn't sure if I could shop around and see what I might be approved for before checking other issuers

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@ambitiouscat79- as mentioned upthread, the SoFi CC is not like GS/Apple Card. If you are approved, there is no option to accept or decline, it will simply show you the end result. If you are declined, no HP.  It's only when you're approved that the HP will be done on EX.

[ambitiouscat79]

thank you for the info - that is helpful info!!! Tangent but related, would you recommend the card?

[ambitiouscat79]

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@FinStar wrote:

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@ambitiouscat79 wrote:

Hi,

It seems that the SoFI application is a soft pull to check to see if they will approve, and from what I've read, hard pull if approved.

Is it like Apple Card (Goldman Sachs) where it allows the customer to decide whether or not to accept credit card terms before turning it into a hard pull?  

SoFi is not my preferred choice but I wasn't sure if I could shop around and see what I might be approved for before checking other issuers

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@ambitiouscat79- as mentioned upthread, the SoFi CC is not like GS/Apple Card. If you are approved, there is no option to accept or decline, it will simply show you the end result. If you are declined, no HP.  It's only when you're approved that the HP will be done on EX.

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Thank you!  This is what I thought might be the case! 

[ambitiouscat79]

A flat cash back preferably to fill in misc gaps whether in points or cash back  - I already have the Amex gold and bcp for dining/groceries/gas/streaming and an Apple Card for Apple Pay or apple/bike... also us cash plus for utilities and gym... So it would ideally be for misc expenses for Christmas shopping, random online shopping, misc expenses...

[sugarcreek67]

Strait 2% unlimited card  no AF, No FTF  can redeem your cash back into your sofi money account.