@Anonymous wrote:I intend to pay in full each month, as I would just like a good card that rewards me. I spend a lot more of my weekly expenses on eating out, rather than groceries, I don't use much gas as I don't drive very far each month, and I like to shop online some. Some months are heavier than others, and my paycheck will get smaller once I hit my 90th day with my company, as I can then start doing health insurance deductions and all that. My only concern with a super high APR is if I do decide to pay some over time in the future, that I don't want to be paying anything too outrageous.
From the description of your spending, it seems that Discover will not cover all of your spending categories all year round, further supporting the case for having a 2nd all-around card.
Besides Citi DC, there are other 2% cards available. If you're into stock investing with Fidelity, consider the Fidelity Rewards Visa Signature.
@Anonymous wrote:
Edit: I should add that I just noticed that my CU CC is not being reported to TU, so it doesn't show any non-authorized user revolving accounts on TU, only my student loans. That's sort of worrisome for me, because it makes it look like I have nothing on there. Do Discover or Citi pull TU?
My friend applied for Discover 1-2 months ago. According to her Credit Karma, TU was not pulled, EQ was pulled. Not sure about EX.
@Anonymous wrote:
@Anonymous wrote:Hi All,
I'm a new grad who has my been in my job a couple months now. $60k salary. FICO scores: EQ 768/EX 755/TU 726
I've been an authorized user on my parents' credit cards since I was probably 16: AMEX Premier Rewards Gold, Discover, and Target. Two years ago, I opened up a credit card (with my mom also on the application since I wasn't working much during school) at our local CU. $1k CL and 8% APR. I also have around $30k in student loan accounts, which are currently deferred. The payment is irrelevant, as my parents are gracious enough to pay them for me each month once they come out of deferment.(depending on the type of loans here, if they are a mix of subsidized and unsubsidized i would call in and have them grouped separately on your account page, and ask them what amount each month you need to pay to cover the interest on the unsub loans. This will save you a ton of money depending on how long you are in deferrment.) The loans are unsubsidized, and they're all broken up separately into 4 different loans.
I am looking to get a rewards/cashback credit card that I can use for daily expenses, rather than just using my debit card and getting nothing out of it. I plan to pay it back each month. I also wanted to request a CLI on that CU card, so I haven't been given one in 2 years, and my income has changed significantly. My mom's idea was to apply for a card and push a button on my credit card to request a CLI all at the same time, but the problem there is that there's no CLI button for my CU card; we would have to go in and talk to a representive. You should be able to go in, I highly doubt they can split the card into two separate accounts, but they can make it either soley your card, or hers, up to you. Then just add the other as an authorized user and make sure they have that feature. If not, just leave it and deal with it later or close it.
I don't think I want a travel card at this time, as I want to start earning rewards/cashback immediately, and I don't plan to travel anywhere in the next year, unless it were a smaller trip that I don't mind using savings for (I have 2 weeks of vacation, so that's not an issue). I was considering getting the Gold or Plat AMEX Skymiles card in a year, and I could start earning it after that.
So she and I thought the best card for me right now would be the Discover IT card. Originally I was thinking USAA Visa or AMEX, but she thinks USAA doesn't normally give out very high CLs, as my sister, whom is now 29, has had a card with them since college, and they've barely raised her CL to $2.5k.
I should add I only have 1 HP on TU, which was my rent application a couple months ago. I have 3 on EQ, 1 from almost 2 years ago, 1 from over a year ago, and one from a couple months ago for Comcast. No missed payments, no bad marks, nothing.
I looked at the Discover IT revolving categories currently, and I liked all of them, and I don't mind signing up each quarter... that's no problem.
So my question is --- Does Discover IT sound like the right card for me right now / will I get a CL of more than $1k in you all's opinion? What are the limits on the disco and target? Discover limit is $15k, and Target is $2.4k. Obviously the AMEX is NPSL, but I know the spending power is at least $10k. I searched for myself in the "personalized offer" section, and it gave me an APR of 19.24%, which I honestly thought was pretty high given the upper bound on their APR is 23.24%.Discover offers APR reductions so have no fear, also it lets you do 18 month balance transfers at 4.99% so its basically a low interest card when it needs to be. I don't have any debt on my one CU credit card, so I don't need to do any BT at the moment. Thanks for the advice there though.
Or maybe there is a better card for me? YES
1. Find out why that card isnt reporting on TU. If you can get that fixed fast, that would be my first step. That sounds like why your TU is lower than the others (certainly don't see it as hindering a chase approval though but it is concerning). Everything I read on this subject said that it's the creditor's decision if they want to report to all 3 agencies. Can I really call them up and just ask to have it reported to TU?
2. So you have 1 joint cu card, and then you are an AU on a discover card, target red card, and PRG? Yes you are still eligible to app for your own disco IT and you would get 50 now and 50 in 12 months, and your primary would get 50 (and doubled if its in the promo) 50 what? Sorry, I must have missed something.
3. Have you went to chase.com and checked to see if you are prequalified? With your scores as long as your income is 40k+, you should be applying for the Chase Sapphire Reserve and the same day also apply for a regular Chase Freedom while its still around. You would pay $450 for the annual fee but again, that 100k bonus is worth 1k in cash or 1.5k in travel. $300 now and $300 jan 1 for travel or a variety of gift cards. If you got both of these cards you would have $1150 cash value not including the $600 in gift cards. Spend 4500 in 90 days. Pay all your bills with it, pay it off each month, and go stock up on a few cards for places you shop at, maybe get a good deal at giftcardgranny. Then you would have 3x on travel and dining, and rotating 5x categories that are worth at least 7.5 cents per point when redeemed for travel. I have actually been to chase.com, and it always tell me this: "We are unable to locate any offers for you at this time. This may be because you have opted out of "pre-screened" offers from Chase and other companies, or you have recently responded to another offer from Chase. However we may still have products to meet your needs. Please continue to chase.com." So, that's unfortunate. From what I read regarding CSR, you need to have proof of other cards with high CLs, and I figure since the only high CL card I have is Discover, and I'm only an AU, that it would deny me, no? Lastly, I'm not sure if I can really spend $4,500 in 90 days. I barely even spend $1000 a month (outside of rent) at the moment. I guess I could always do a big purchase in my parents' stead and have them pay me back perhaps. I also can't charge my rent to credit cards because they charge like 3-5% fee.
4. I would not worry about a 2 percent card right now. The discover IT card is a 2% card for everything the first 12 months! (granted you only get 1% now and the other comes after your first year when that $50 gets doubled again too).
Always strike while the iron is hot. It is unheard of to see a bonus worth this much on a card like this. Please do not let the annual fee scare you. If you end up evaluating the card for a year and you think you wont be spending much in dining and travel, then downgrade it to a no annual fee freedom unlimited or chase sapphire.
Discover is gonna be around it seems. I say iron out the kinks at the credit union (esp w that non TU reporting issue STAT), hopefully you could use one inquiry to split the account into just your name and get a big increase (like 5-10k limit) at the same time, or make it your moms. I doubt this account has much affect on your scores, sounds to me like its the backdated amex....
Let us know what https://www.chase.com/prequalified shows,I am betting it shows prequals for CSP, Freedom, and Slate, you can click details and see what APR bucket they have you in, but I guarantee you that you will get approved for the CSR and Freedom the same day. And in 3 months grab the CSP and Freedom Unlimited or ink plus.
Always pay attention to Themanwhocan to find out how much you spend a month in which categories for cash back cards. His charts are a great tool that have helped dozens of my friends and family members. Not only will you get a snapshot of better fitting cards based on category spend, but you will see where to get free credit scores, single digit APR cards, etc. Valuable info there.
As far as online shopping use http://www.cashbackmonitor.com/ you might want to look into using either the freedom/unlimited or the discover IT to buy gift cards from giftcardgranny.com and then use a shopping portal like ebates to get extra % off.
Also while you are in the CU branch (which is where I assume your checking account is?) The CU isn't my primary checking account since I no longer live near the CU. I use Regions, but technically I have checking/savings with both. find out what types of high yield checking accounts they offer. They should have at least 1.75% if not, easy to get 3% at LMCU on up to 15k, sometimes you can get 5 or 6%. Ask them if that CU card APR is variable or fixed (wink galahad15) and if it has balance transfer or cash advance fees, and if they allow it to function as a line of credit to your checking account. You might be surprised, and walk out with a new checking account that pays you money paired with a higher limit card that will be more useful in the event you need it.
End of rant!
TLDR: See if a quick call can fix the TU reporting issue, Chase apps first, if unable to get sizable CLI at CU, close it, explore money saving options with paying interest only on deferred student loans (saving money doesn't bother me since my parents will be paying for this), cash back portals, and buying discounted gift cards, Once you are at 5/24 then app for the specific cash back category cards based on your monthly spend when not working towards a sign on bonus. You wont get a higher rate of return on some of these. And since you are not a big traveler but may potentially be you would be surprised at how even someone who travels just once or twice a year can have experiences they wouldn't normally be able to.
Thank you! I replied in orange.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:Hi All,
I'm a new grad who has my been in my job a couple months now. $60k salary. FICO scores: EQ 768/EX 755/TU 726
I've been an authorized user on my parents' credit cards since I was probably 16: AMEX Premier Rewards Gold, Discover, and Target. Two years ago, I opened up a credit card (with my mom also on the application since I wasn't working much during school) at our local CU. $1k CL and 8% APR. I also have around $30k in student loan accounts, which are currently deferred. The payment is irrelevant, as my parents are gracious enough to pay them for me each month once they come out of deferment.(depending on the type of loans here, if they are a mix of subsidized and unsubsidized i would call in and have them grouped separately on your account page, and ask them what amount each month you need to pay to cover the interest on the unsub loans. This will save you a ton of money depending on how long you are in deferrment.) The loans are unsubsidized, and they're all broken up separately into 4 different loans.
I am looking to get a rewards/cashback credit card that I can use for daily expenses, rather than just using my debit card and getting nothing out of it. I plan to pay it back each month. I also wanted to request a CLI on that CU card, so I haven't been given one in 2 years, and my income has changed significantly. My mom's idea was to apply for a card and push a button on my credit card to request a CLI all at the same time, but the problem there is that there's no CLI button for my CU card; we would have to go in and talk to a representive. You should be able to go in, I highly doubt they can split the card into two separate accounts, but they can make it either soley your card, or hers, up to you. Then just add the other as an authorized user and make sure they have that feature. If not, just leave it and deal with it later or close it.
I don't think I want a travel card at this time, as I want to start earning rewards/cashback immediately, and I don't plan to travel anywhere in the next year, unless it were a smaller trip that I don't mind using savings for (I have 2 weeks of vacation, so that's not an issue). I was considering getting the Gold or Plat AMEX Skymiles card in a year, and I could start earning it after that.
So she and I thought the best card for me right now would be the Discover IT card. Originally I was thinking USAA Visa or AMEX, but she thinks USAA doesn't normally give out very high CLs, as my sister, whom is now 29, has had a card with them since college, and they've barely raised her CL to $2.5k.
I should add I only have 1 HP on TU, which was my rent application a couple months ago. I have 3 on EQ, 1 from almost 2 years ago, 1 from over a year ago, and one from a couple months ago for Comcast. No missed payments, no bad marks, nothing.
I looked at the Discover IT revolving categories currently, and I liked all of them, and I don't mind signing up each quarter... that's no problem.
So my question is --- Does Discover IT sound like the right card for me right now / will I get a CL of more than $1k in you all's opinion? What are the limits on the disco and target? Discover limit is $15k, and Target is $2.4k. Obviously the AMEX is NPSL, but I know the spending power is at least $10k. I searched for myself in the "personalized offer" section, and it gave me an APR of 19.24%, which I honestly thought was pretty high given the upper bound on their APR is 23.24%.Discover offers APR reductions so have no fear, also it lets you do 18 month balance transfers at 4.99% so its basically a low interest card when it needs to be. I don't have any debt on my one CU credit card, so I don't need to do any BT at the moment. Thanks for the advice there though. :-)
Or maybe there is a better card for me? YES
1. Find out why that card isnt reporting on TU. If you can get that fixed fast, that would be my first step. That sounds like why your TU is lower than the others (certainly don't see it as hindering a chase approval though but it is concerning). Everything I read on this subject said that it's the creditor's decision if they want to report to all 3 agencies. Can I really call them up and just ask to have it reported to TU? That is a valid point but it still doesnt hurt to ask, it could simply be an error?
2. So you have 1 joint cu card, and then you are an AU on a discover card, target red card, and PRG? Yes you are still eligible to app for your own disco IT and you would get 50 now and 50 in 12 months, and your primary would get 50 (and doubled if its in the promo) 50 what? Sorry, I must have missed something.
$50 referral bonus for discover IT.
3. Have you went to chase.com and checked to see if you are prequalified? With your scores as long as your income is 40k+, you should be applying for the Chase Sapphire Reserve and the same day also apply for a regular Chase Freedom while its still around. You would pay $450 for the annual fee but again, that 100k bonus is worth 1k in cash or 1.5k in travel. $300 now and $300 jan 1 for travel or a variety of gift cards. If you got both of these cards you would have $1150 cash value not including the $600 in gift cards. Spend 4500 in 90 days. Pay all your bills with it, pay it off each month, and go stock up on a few cards for places you shop at, maybe get a good deal at giftcardgranny. Then you would have 3x on travel and dining, and rotating 5x categories that are worth at least 7.5 cents per point when redeemed for travel. I have actually been to chase.com, and it always tell me this: "We are unable to locate any offers for you at this time. This may be because you have opted out of "pre-screened" offers from Chase and other companies, or you have recently responded to another offer from Chase. However we may still have products to meet your needs. Please continue to chase.com." So, that's unfortunate. From what I read regarding CSR, you need to have proof of other cards with high CLs, and I figure since the only high CL card I have is Discover, and I'm only an AU, that it would deny me, no? Not always the case, this is why I asked what the limit was, it will def help. Lastly, I'm not sure if I can really spend $4,500 in 90 days. I barely even spend $1000 a month (outside of rent) at the moment. I guess I could always do a big purchase in my parents' stead and have them pay me back perhaps. I also can't charge my rent to credit cards because they charge like 3-5% fee. Well then looks like you only have $1500 extra to worry about then, and yes that would be a great way to hit the bonus compared to alternative methods. 3% fee for rent wouldnt be too bad considering the size of the bonus actually.
4. I would not worry about a 2 percent card right now. The discover IT card is a 2% card for everything the first 12 months! (granted you only get 1% now and the other comes after your first year when that $50 gets doubled again too).
Always strike while the iron is hot. It is unheard of to see a bonus worth this much on a card like this. Please do not let the annual fee scare you. If you end up evaluating the card for a year and you think you wont be spending much in dining and travel, then downgrade it to a no annual fee freedom unlimited or chase sapphire.
Discover is gonna be around it seems. I say iron out the kinks at the credit union (esp w that non TU reporting issue STAT), hopefully you could use one inquiry to split the account into just your name and get a big increase (like 5-10k limit) at the same time, or make it your moms. I doubt this account has much affect on your scores, sounds to me like its the backdated amex....
Let us know what https://www.chase.com/prequalified shows,I am betting it shows prequals for CSP, Freedom, and Slate, you can click details and see what APR bucket they have you in, but I guarantee you that you will get approved for the CSR and Freedom the same day. And in 3 months grab the CSP and Freedom Unlimited or ink plus.
Always pay attention to Themanwhocan to find out how much you spend a month in which categories for cash back cards. His charts are a great tool that have helped dozens of my friends and family members. Not only will you get a snapshot of better fitting cards based on category spend, but you will see where to get free credit scores, single digit APR cards, etc. Valuable info there.
As far as online shopping use http://www.cashbackmonitor.com/ you might want to look into using either the freedom/unlimited or the discover IT to buy gift cards from giftcardgranny.com and then use a shopping portal like ebates to get extra % off.
Also while you are in the CU branch (which is where I assume your checking account is?) The CU isn't my primary checking account since I no longer live near the CU. I use Regions, but technically I have checking/savings with both. find out what types of high yield checking accounts they offer. They should have at least 1.75% if not, easy to get 3% at LMCU on up to 15k, sometimes you can get 5 or 6%. Ask them if that CU card APR is variable or fixed (wink galahad15) and if it has balance transfer or cash advance fees, and if they allow it to function as a line of credit to your checking account. You might be surprised, and walk out with a new checking account that pays you money paired with a higher limit card that will be more useful in the event you need it.
End of rant!
TLDR: See if a quick call can fix the TU reporting issue, Chase apps first, if unable to get sizable CLI at CU, close it, explore money saving options with paying interest only on deferred student loans (saving money doesn't bother me since my parents will be paying for this), cash back portals, and buying discounted gift cards, Once you are at 5/24 then app for the specific cash back category cards based on your monthly spend when not working towards a sign on bonus. You wont get a higher rate of return on some of these. And since you are not a big traveler but may potentially be you would be surprised at how even someone who travels just once or twice a year can have experiences they wouldn't normally be able to.
Thank you! I replied in orange. You are very welcome! I replied in Green!