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Looking for 2nd Credit Card Advise/Direction

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Looking for 2nd Credit Card Advise/Direction

With the help of the members of this great forum I was able to have 12k from Capital One Venture 3 years ago,

I am looking for a 2nd credit card advise and direction?

 

I have: 

Capital One Venture 12k w/20% apr + $59 membership fee.

Capital One Secured MC $2,500 

I am banking personal & bussiness w/chase.

CreditWise Score: 762 (2 Inquiries in the past 2 years)

 

 

 

 

Ex 642 Trans 645 Eq 638 | Capital one 2,500
12 REPLIES 12
Established Contributor

Re: Looking for 2nd Credit Card Advise/Direction

As a first step, I'd get your current FICO scores. I assume the scores in your signature are outdated FICO scores. CreditWise is VantageScore, not FICO. There are several ways to get your FICO scores, including, of course, from MyFICO. Experian also offers them, perhaps cheaper in an introductory period.

 

After that, I guess the questions will be about what you would like to use the card for, or what your spending patterns are. Many cards have specialties, such as travel, groceries, dining out, etc.

 

Assuming no derogatories (that is, no late payments), you should qualify for a lot of good options. Without knowing more about your needs, since you have a travel card, I might give a hard look at the Amex BCP, Amex Gold, Citi Double Cash, Paypal MasterCard, Amazon Visa. Some of those have annual fees and some do not; be sure to factor that in when deciding which will save you the most money per year. If possible, check prequalification before actually applying, to avoid unnecessary hard inquiries. Good luck!




FICO 8 scores are deceptively high. My profile is young with a lot of new accounts and even more inquiries from spring and summer 2019. The Barclay AU card is not on TransUnion; and, Equifax has some old positive accounts from 2011 that are not on the other two. That is the reason for the variation in scores. No derogs. Over 5/24 until summer 2021.

Authorized user / Corporate

Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | Citi secured, $200, 045/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Unsecured personal loan from Coastal, $1,000, 05/19-08/19.

Goal cards: Ducks Unlimited, Chase Sapphire Reserve (or Preferred, haven't decided). Increased CLs across the board.
Long-term goal: Legitimate 770s on EX/EQ/TU, able to qualify for most normal credit products. Prime-rate mortgage.
Message 2 of 13
Senior Contributor

Re: Looking for 2nd Credit Card Advise/Direction


@AzulRoi wrote:

With the help of the members of this great forum I was able to have 12k from Capital One Venture 3 years ago,

I am looking for a 2nd credit card advise and direction?

 

I have: 

Capital One Venture 12k w/20% apr + $59 membership fee.

Capital One Secured MC $2,500 

I am banking personal & bussiness w/chase.

CreditWise Score: 762 (2 Inquiries in the past 2 years)

 

 

 

 


Creditwise scores aren't particularly useful because virtually nobody makes credit decisions using Vantage 3.0 TU scoring, and Vantage 3.0 doesn't reliably track FICO scores.  There are sites such as freecreditscore.com that you can sign up for and get your EX FICO 8 score for free - try an online search for something like 'free FICO 8 scores'. 

 

Since you are already have accounts with Chase you should check if you're prequalified for any cards either online or by visiting a local branch.  You may find the Freedom Unlimited is within reach. 

(8/2019)
FICO 8 (EX) 793 (TU) 808 (EQ) 794
FICO 9 (EX) 822 (TU) 827 (EQ) 844

$900K+ club
Message 3 of 13
Valued Contributor

Re: Looking for 2nd Credit Card Advise/Direction

You can get cheap fico scores with some trial membership offered by experian. Just a few bucks.

 

For new card, it will really depends on your spending. Grocery? travel & dining? general non-category? Figure out your annual spending breakdown and your options will become more apparent.

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Message 4 of 13
Frequent Contributor

Re: Looking for 2nd Credit Card Advise/Direction

I would suggest going over your finances (bills, cc receipts, etc), and see where your spending truly is. If you don't have that, or just don't feel like digging through it, make a spreadsheet and log all spending for the next month categorized by rewards category. Then use that to see where you really are with spending/rewards. That will go a long way towards letting you know what type of card you want.

 

Doing things like this has been surprising to me. We often think "man, I spend so much on X", but a lot of the time it is because the individual charges are larger, so we remember them. Truth is, sometimes category Y is actually a bigger spend category that we just overlook because the $5 here or $7 there doesn't really stick in memory, but it does add up.

Message 5 of 13
New Member

Re: Looking for 2nd Credit Card Advise/Direction

Thanks for the tips!

1.Does freecreditscore is still the best option to get a free fico 8 without hard inquiry ?

2.My main reason is having a better cash back ccard on basic shopping like gas, groceries etc. and not using all my purchased only with C1 Venture 

3.I received an letter offer from chase with invitation to apply for the chase Ink business preferred card but I am not sure i am going to spend that much each month in offer to really benefits from the rewards (80k bonus, 3x1 select cat, 95 fee).

4.I am thinking of Amex Blue cash preferred or similar, does anyone know the score approval odds?

 

 

 

Ex 642 Trans 645 Eq 638 | Capital one 2,500
Message 6 of 13
Established Contributor

Re: Looking for 2nd Credit Card Advise/Direction

It depends on many factors (for example, if you shop at Costco, the Costco 4% card might be ideal for you), but as a quick and general suggestion, I would look closely at the Amex Blue Cash Everyday and Blue Cash Preferred. It's hard to say what score you need since the score is one of many variables. freecreditscore.com will give you your score once per year for each of the three main credit bureaus. You can choose to space them out rather than get them all at once if you like. Good luck!




FICO 8 scores are deceptively high. My profile is young with a lot of new accounts and even more inquiries from spring and summer 2019. The Barclay AU card is not on TransUnion; and, Equifax has some old positive accounts from 2011 that are not on the other two. That is the reason for the variation in scores. No derogs. Over 5/24 until summer 2021.

Authorized user / Corporate

Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | Citi secured, $200, 045/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Unsecured personal loan from Coastal, $1,000, 05/19-08/19.

Goal cards: Ducks Unlimited, Chase Sapphire Reserve (or Preferred, haven't decided). Increased CLs across the board.
Long-term goal: Legitimate 770s on EX/EQ/TU, able to qualify for most normal credit products. Prime-rate mortgage.
Message 7 of 13
New Member

Re: Looking for 2nd Credit Card Advise/Direction

Thanks, As for today my score is 760, Planning to get the Blue cash Preffered. 

Ex 642 Trans 645 Eq 638 | Capital one 2,500
Message 8 of 13
Established Contributor

Re: Looking for 2nd Credit Card Advise/Direction


@AzulRoi wrote:

Thanks, As for today my score is 760, Planning to get the Blue cash Preffered. 


Sounds good. Amex pulls Experian. Good luck!




FICO 8 scores are deceptively high. My profile is young with a lot of new accounts and even more inquiries from spring and summer 2019. The Barclay AU card is not on TransUnion; and, Equifax has some old positive accounts from 2011 that are not on the other two. That is the reason for the variation in scores. No derogs. Over 5/24 until summer 2021.

Authorized user / Corporate

Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | Citi secured, $200, 045/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Unsecured personal loan from Coastal, $1,000, 05/19-08/19.

Goal cards: Ducks Unlimited, Chase Sapphire Reserve (or Preferred, haven't decided). Increased CLs across the board.
Long-term goal: Legitimate 770s on EX/EQ/TU, able to qualify for most normal credit products. Prime-rate mortgage.
Message 9 of 13
New Member

Re: Looking for 2nd Credit Card Advise/Direction

Thanks! on the Amex pre quilify page got both offers: 100k for Platinuim and BCP as well 

Ex 642 Trans 645 Eq 638 | Capital one 2,500
Message 10 of 13
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