Choosing a new Credit Card, Advice needed

Anonymous · ‎11-09-2016

I’ve been reading most of the similar questions about choosing the right credit card for a specific goal, here is my situation:

I started with a good credit that went down all the way to 550 score 6 years ago. since than I have paid all my debt (settle for less) with Citibank and closed small acc with macys etc. I started re-building my credit with capital one secured card for the past 3 years and my currant max on this card is $2,500 (maximum) I pay balance in full each and even twice a month. My personal income has now in a very good and healthy place with chase bank with both personal and business accounts.

Last credit report shoes all my debt has been pain or account closed, as for now my credit score reach 736 (from c.one credit wise tracker),

I also started to receive all kind of credit cards offers as well.

What should be the next credit card to apply for?

Does it matter applying for a c.card as a company vs. personal account (I have great income in both)?

I've been thinking about c.one quicksilver/chase freedom/amex blue/Discover It.

I would appreciate any help and direction from you guys, Thanks!

Anonymous · ‎11-09-2016

Welcome to myFICO! What are your current FICO scores? Do you have any inquiries? Baddies?

Anonymous · ‎11-09-2016

Thank You!

I didn't purchased a FICO score yet, trying to figure out what is the best plan for now.

Based on CreditWise my score is 736 as for today with 2 derogatory acc and 1 delinquent acc.

My report shows 4 closed accounts on $0.00 / Available credit $2,500 / oldest credit line is 9 years.

BirchBarlow · ‎11-09-2016

Which type of card are you looking for? If it's rotating cash back I would choose Chase Freedom or Discover. Chase Freedom Unlimited if you want flat cash back. Both Chase and Discover offer 90 day price protection, a very useful feature that most cards don't offer.

bourgogne · ‎11-09-2016

@Anonymous wrote:
Thank You!
I didn't purchased a FICO score yet, trying to figure out what is the best plan for now.
Based on CreditWise my score is 736 as for today with 2 derogatory acc and 1 delinquent acc.
My report shows 4 closed accounts on $0.00 / Available credit $2,500 / oldest credit line is 9 years.

forget CreditWise is useles. checkcredittotal.com. $ 1 for 3 real fico scores. cancel after you get the report and post your scores. if you go to capital one do you see a pre-quality? how about chase? don't get store cards.

Anonymous · ‎11-10-2016

Here is my currant FICO® Score 8 from today:

Experian 642 Transunion 645 Equifax 638

*All old accounts are closed on $0.00* No other issues like public records etc *

I guess my score is still not that good as i though, any recommendation for a card/bank that will work with that and help rise my score?

(I currently have Capital One secure card with $2,500)

I received a few letters in the past few months with "pre-qualify offers" from capital one, discover, amex and chase (where my personal and business checking acc is at)

Over a year ago i went with that letter to capital one branch and the clerk promise me I will get a real c.card even in low balance but I got denied, I just don't want to keep trying but go somewhere I can get approved...I have no income issues current annual is over 100k.

bourgogne · ‎11-10-2016

@Anonymous wrote:
Here is my currant FICO® Score 8 from today:
Experian 642 Transunion 645 Equifax 638
*All old accounts are closed on $0.00* No other issues like public records etc *

I guess my score is still not that good as i though, any recommendation for a card/bank that will work with that and help rise my score?
(I currently have Capital One secure card with $2,500)

I received a few letters in the past few months with "pre-qualify offers" from capital one, discover, amex and chase (where my personal and business checking acc is at)
Over a year ago i went with that letter to capital one branch and the clerk promise me I will get a real c.card even in low balance but I got denied, I just don't want to keep trying but go somewhere I can get approved...I have no income issues current annual is over 100k.

good, you are in pretty good shape – anything over ~680 is often considered good enough. Over ~750 is excellent but you have more than enough to work with. What is the reason(s) your scores are on the low side and have you addressed everything you can to get it in good shape? Go to cap1s site right now and see if you get a pre-qual - it should not be generic looking; it might have your name or a fixed apr. You can take screen snip of it and post it. Are you military or retired or a member of any credit union? I am thinking c1 is your ticket to the promised land, post what you find please. Oh, I just made a reservation for this place sat, is this you lol
http://www.azuojai.com/

happypill · ‎11-10-2016

Given your current FICO scores and the history you described, your best bet right now would be Capital One. If you want the highest possible limit try for the Venture (also great sign-on bonus and you can downgrade to a no AF within a year), if you want no AF then go for the Quicksilver. Capital One does value history with their cards so I think you should be in good shape with them.

Discover is friendly to thin filles. You only have one card currently, but not sure if you have a lot of prior history. They might be worth a try, but you'll probably get a very small limit to start.

Anonymous · ‎11-10-2016

Those prequalifying offers are from some of the eastiest banks except for Chase. If I was in your shoes I would apply for Discover. They are people getting them with a lower credit score then you and have the best customer service of any bank. You get a free credit score and rewards are really good. Once your credit improve, I would PC the Captial One credit card to something better such as quicksilver. My guess Chase would be the hardest credit card to get and I would hold off until your credit score is closer to 700.

With Amex they are the Disneyworld of credit world. They have a really good side and a dark shadow side to them. If you go down this path make sure you never miss a payment and preferable pay full every month (This is probably common sense, this the one bank you do not want to be on your bad side). You probably qualify for the Blue or Everyday cards. The Amex Green is not worth it.

As for regional or another other banks they are going to be very difficult to get.

Anonymous · ‎11-10-2016

@bourgogne wrote:
@Anonymous wrote:
Here is my currant FICO® Score 8 from today:
Experian 642 Transunion 645 Equifax 638
*All old accounts are closed on $0.00* No other issues like public records etc *

I guess my score is still not that good as i though, any recommendation for a card/bank that will work with that and help rise my score?
(I currently have Capital One secure card with $2,500)

I received a few letters in the past few months with "pre-qualify offers" from capital one, discover, amex and chase (where my personal and business checking acc is at)
Over a year ago i went with that letter to capital one branch and the clerk promise me I will get a real c.card even in low balance but I got denied, I just don't want to keep trying but go somewhere I can get approved...I have no income issues current annual is over 100k.

good, you are in pretty good shape – anything over ~680 is often considered good enough. Over ~750 is excellent but you have more than enough to work with. What is the reason(s) your scores are on the low side and have you addressed everything you can to get it in good shape? Go to cap1s site right now and see if you get a pre-qual - it should not be generic looking; it might have your name or a fixed apr. You can take screen snip of it and post it. Are you military or retired or a member of any credit union? I am thinking c1 is your ticket to the promised land, post what you find please. Oh, I just made a reservation for this place sat, is this you lol
http://www.azuojai.com/

Thanks for the tips! I went to C1 and got "pre-qualify" for:

Quicksilver and Venture Cards

https://s4.postimg.org/p8sqb9mjh/capital.jpg

In the past i had citibank credit card (my 1st ever) and I was young and stupid enough to go on a 6 month trip and didn't pay balance, since then I paid all my debt and all old account are now closed with zero balance. I guess i don't have enough credit cards to even show a positive change in the credit history...

lol Not my place but looks great, should def check it out when in Cali!