Daily driver no AF card?

[Anonymous]

Hi guys,

So I'm planning on getting another card within the next two months and I would like some help and suggestions I'm looking for a solid non category spend card with no annual fee, and no foreign transaction fees would definitely be a plus but not completely necessary for my next card. I compulsively applied for a citi dc since my family has been banking with citi for about 10+ years now, but no luck lol. It seems to me that a lot of users in the forum love going the chase route, and I've been considering the freedom unlimited, however there are foreign transaction fees. The two no FTF cards I have also been considering are the capital one quicksilver and the paypal mastercard, but I've been scared to apply. Anybody have any thoughts or suggestions? Comments on approval odds? Anything helps really lol and I would greatly appreciate some feedback!

Discover It 10/18 ($1000), Uber 2/19 ($750)

TU and EX: 691 (2 inqs)

[Anonymous]

If you want a Quicksilver, you're gonna need to wait a while. I've found Capital One to be quite stingy. The Chase Freedom Unlimited would probably be the best 1.5% cash back to get. That's the one I have. I primarly bank with Wells Fargo; That's where I have a checking account and have for a long time, yet they turned me down for the Cash Wise, which is also 1.5% cash back. Oh well, they had their chance to give me a 1.5 card and didn't. But you don't want a foreign transaction fee.

You say you applied for the Citi DC and got turned down. Try calling their reconsideration line and see what happens. I got approved for American Express Blue Cash Preferred that way and it worked better than I expected. The DC has a foreign transaction fee though.

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US Bank Cash+ Visa Signature $5000 | Chase Freedm $1500 | JCPenney $1500 | Bank of America Cash Rewards $2500 | Discover It Cash Back $3500 | American Express Blue Cash Preferred $6000 | Chase Freedom Unlimited $1500

[wasCB14]

CFU is a pretty mediocre card unless you have an AF UR card to pair it with (CSP, CSR, or Ink Preferred). CFU really has no benefits I find useful; the value is purely in points to feed my CSR balance. While other Chase cards have great travel protections, CFU lacks most of them and has a FTF.

Maybe take a look at BofA Travel Rewards for a no-FTF 1.5% card that can potentially have a higher earn rate if you bank with them.

State Department FCU has a no-FTF 2% card. I've not looked at them for a few years, but when I did it was possible to join for a $5 fee paid to some consumer agency. I'm not sure what the credit standards are.

*Take your time and be picky. I get the desire to have a better off-category card, but you should be earning 2x with Discover for another ~7 months and you have two of the best cards there are for people who don't want to get into games involving churning, annual fees, or airline miles.

[HeavenOhio]

Welcome, @Anonymous.

Congratulations on starting out with two nice cards.

With Chase, you want your oldest card to be at least a year old. They're also sensitive to new accounts, meaning that it's nice to have three to six months of gardening going into the application. Along with that, they have their 5/24 rule: denial is likely if one has opened five or more cards within the past 24 months.

I think your Quicksilver approval odds are borderline at this point due to your short history. Just like Chase, I think they'll improve markedly once your oldest card reaches the one-year point.

Anyhoo, I'm a fan of one card every six months, i.e. a card in month 1, month 7, month 13, month 19, and month 25. This should prevent denials based on new accounts and inquiries, and it always keeps you at less than 5/24. You can accelerate an application a bit if you make up for it with extra gardening later. I think the main thing is that your fifth card shouldn't come before month 25.

In your case, I'd wait until month 13. At that point, your two cards are going to position you for some really nice products with good chances of approval. And your score will likely be a little higher, too. It's OK right now, but being above 700 is better than being below.

Speaking of scores, what is your utilization right now? I think you may be leaving a few points on the table. That's not a problem if your not applying for anything. But if there are a few extra points that can be grabbed before an application, you should probably take advantage of that.

One last thing. If you haven't already, ask for a credit limit increase (CLI) on your Discover card. If declined, request again in 30 days. If approved, request again in 60 to 90 days.

And speaking of Discover, you're likely earning the cashback match during its first year. Assuming you have the It card, that's the equivalent of a 2% card in your wallet right now.

[Anonymous]

With your scores, the PayPal Cashback is a good match. No FTF, flat 2% cash back with no minimum redemption, and it’s a Synchrony card so even if they start you with a lower limit, it will grow very quickly while Capital One is very stingy with CLIs. 

Get your TU FICO 8 to 700 or higher for the best chances of a high SL but Synchrony has been known to approve low limits in the 650 range. Unlike Synchrony store cards though, their majors tend to be 5-6 months before you can get a CLI so try to get your score into the most optimum range you can before the app. Sync dished out an $8K SL to me with $18K income and a Chapter 7 in 2010 on my TU (score was 706 at the time and less than two weeks prior they approved me for $1800 on the Amazon Store Card when I was at 652) which ended up being the largest SL I have received in my rebuild. 

Beware that managing the card all has to be done through PayPal’s website which links to a Synchrony portal. It’s definitely not the best system around. In contrast, Capital One has their app and website which are both excellent but depending on how much your every day spend is, that .5% lower return can add up ($25 loss in cash back for every $5000 spent) and if your profile isn’t perfectly optimized when you app, you’re going to get a lower limit and likely be stuck with it for awhile. 

ETA: Your file is very thin though (I missed that when I posted this) so I would probably garden until at least August to get some history. I don’t know how Synchrony does with their majors on a thin file. I do know that Capital One tends not to mind thin files but check their tool and see what they’re offering. If they offer you the Platinum and/or QS1 with a very high APR, you’re going to get bucketed into a starter card that likely won’t grow much. 

[pinkandgrey]

Oh too bad lol I was gonna suggest DC. Honestly I think the PP MC is the best for you. It gives the same 2% as DC and it SEEMS to be easier to qualify for. 

[Shooting-For-800]

See if you prequal for Cap One.

If you prequal for Venture, then you should get a great SL on QS.

QS is hard to beat for scores under 700.

GL!

[staticvoidmain]

PayPal Cashback Mastercard. No FTF. No AF. Straight 2% everywhere.