Cash back card question/recommendation

[Anonymous]

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@ambitiouscat79 wrote:

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?

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TD bank came out with a new card over the summer. I have it and it seems to be similar to the Citi card.1% when  you charge and 1% when you pay. So far a very good card. I have the Citi one that you are talking about as well. Both very similar cards. However, with a collection I think that TD bank would be more open to approving you. I am not so sure about Citi. You really need to check the forums to see how others faired with the Citi card and collections.

Thanks

Mark

[Rockysocks]

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@ambitiouscat79 wrote:

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...

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Have you looked into the AOD Visa Signature with 3% back on everything?

[FinStar]

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@ambitiouscat79 wrote:

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

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@ambitiouscat79 

Since your SoFi/Apple Card discussion has evolved into additional cashback recommendations, your 2 threads have been merged to avoid multiple topics based on the same premise.

[SouthJamaica]

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@ambitiouscat79 wrote:

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?

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The inquiry and new account won't help your auto loan application.

A good cash back card is the FNBO Evergreen 2%% cash back card.

[ptatohed]

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@ambitiouscat79 wrote:

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?

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Not sure if I am answering your question but a year + ago, I had perfect credit except for one medical collection for a minor shin surgery I had, for a measly $108 but I refused to pay because I didn't agree with the bill.  Leaving out any more details, I basically disputed the charge month after month after month after month until the medical facility got tired (or short staffed?) of providing validation of the bill.  I finally prevailed and I am perfect credit.  Over 800 as of last month when I bought a Telluride for $0 down and 1.9% for 60 months.  My point?  Constantly dispute anything negative on your report.  

[OmarGB9]

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@ptatohed wrote:

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@ambitiouscat79 wrote:

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?

---

Not sure if I am answering your question but a year + ago, I had perfect credit except for one medical collection for a minor shin surgery I had, for a measly $108 but I refused to pay because I didn't agree with the bill.  Leaving out any more details, I basically disputed the charge month after month after month after month until the medical facility got tired (or short staffed?) of providing validation of the bill.  I finally prevailed and I am perfect credit.  Over 800 as of last month when I bought a Telluride for $0 down and 1.9% for 60 months.  My point?  Constantly dispute anything negative on your report.  

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I'm sorry, but that is terrible advice. You honestly just got lucky. Typically, when you dispute the same tradeline over and over for the same reason, the CRAs will label you a "frivolous disputer" and either block you from disputing altogether, or they will allow you to dispute, but they will just close the investigation right away every time. I don't know how they didn't do that to you when you kept disputing for months on end, but like I said, it was luck they didn't and also lucky the medical collection finally gave in. I think the fact that it was only $108 also helped you. If it was a much larger amount, I don't think the collection agency would have given in.

[staticvoidmain]

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@ambitiouscat79 wrote:

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

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I have their card. My opinion two months, or even a month ago would have been different, but SoFi has changed their process. I have mentioned this before in other threads, but currently, you can just apply to SoFi, every month until you get approved, without penalty to your credit. If you're set with it, just do it. Once you "apply", you agree to a hard pull once approved. No more steps between "apply" and "approved with HP"/"Declined with SP".

For what it's worth, I applied three times. The first time was an HP (before they changed their application process). I applied the following month, denied, but SP. I applied again a month after, SP then HP (approved).

As mentioned, I have the SoFi card. It is a straight 2% card. I also have the PayPal 2% (which now has FTF). I did not even consider the Citi DC because it has the worst structure. I applied for the Sofi because it is a real 2% everywhere card in that I can use it abroad, or purchase anything online regardless of where it's coming from, without worrying if I will be charged a 3% fee or not. I also bank with SoFi. They also give you cashback bonuses for a LOT of things, like one-time bonuses such as adding your card to google/apple pay, or recurring cashback bonuses like whenever you get paid on a linked SoFi checking account, (or the 1% daily if you sign in to the app). It is also a WEMC if that matters to you.

I hate when card companies change their terms. If SoFi is in charge of their credit card terms, then it gives me peace of mind, in that I have experience with them grandfathering their original, favorable terms. It's just an assumption, of course.

*My opinion reflects someone who has recently applied, approved, and acquired the card. I could be a little more enthusiastic with bias.