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What card should I get?

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Anonymous
Not applicable

What card should I get?

Hi all,

 

Looking to add a new credit card to the mix and hoping to get some opinions! I currently have an Amex Blue Cash Preferred ($6k limit) that I use for groceries (6% back) and gas (3% back); my Visa debit card through my bank also gives me rewards points for purchases made as credit. Additionally, I have a few store credit cards (J. Crew, Express, Limited and Victoria's Secret) as well as a CareCredit card.

 

I'd like to add either a Visa or MasterCard with decent perks (not everyone takes Amex, and I'm not comfortable linking some purchases directly to my bank account - sometimes a credit card is the way to go). Any favorites?

 

For reference, my AAoA is 5 years and my current scores are TU 826, EQ 701 and EXP 746. I opened the Amex last June; around the same time I took my first mortgage, and since then I've opened the CareCredit account for an unexpected vet bill. Received my 3x CLI on Amex in December; going for another 3x in June.

 

Thanks; these forums are so helpful!

Message 1 of 15
14 REPLIES 14
simi_go
Frequent Contributor

Re: What card should I get?

Personally I would try form the Chase Freedom. IMO one of the best rewards cards available and you should have no problem getting it, with a somewhat decent CL.
My wallet: Newest to oldest.



Message 2 of 15
Anonymous
Not applicable

Re: What card should I get?

Welcome to the forum! Your CS and long AAOA would definitely garner some nice approvals. I agree Freedom is nice, so is Discover It. Do you travel a lot?
Message 3 of 15
LS2982
Mega Contributor

Re: What card should I get?

I would also suggest either Chase Freedom or Discover IT. You should be golden for both or either one. Smiley Happy




EQ FICO 548 3/3/16
Message 4 of 15
Anonymous
Not applicable

Re: What card should I get?

If you're looking for wide acceptance, Discover may not be the way to go.  Ultimately, it comes down to how you typically spend your money.  There are a lot of great cards out there, the Chase Freedom being one of them.  If you're looking for a 'jack of all trades' card, Freedom is definitely a solid choice.  I'm a fan of Chase.

Message 5 of 15
Anonymous
Not applicable

Re: What card should I get?

I'll definitely check out Chase Freedom! Smiley Happy

 

We do like to travel, but I've never used a travel rewards card so I'm not sure how "worth it" they are - how quickly you can earn something legitimate, etc...if someone had a travel rewards card they loved with good benefits I'd definitely be interested!

 

I'm very happy with my gas/groceries card so I'm not looking for one of those; just something to round out my wallet a little.

 

Now here's the next question...whatever I decide to apply for, do I apply now, or wait a month, try for my Amex CLI and THEN apply?

Message 6 of 15
Anonymous
Not applicable

Re: What card should I get?

Another vote for Chase Freedom. The 5% cash back quarterly category promotions are great. This quarter it's restaurants and movie theaters.

Message 7 of 15
ztnjpv
Established Contributor

Re: What card should I get?

OP,

 

Beyond the obvious choice of the Freedom, you could go about it a little differently if you're up for it:

 

Apply for the Chase Sapphire Preferred. Sweet 40k point signup bonus and decent extras that you don't get with the Freedom in terms of using the points in the Ultimate Rewards. However, even if that doesn't float your boat in the longer term, you could PC out of it and into the freedom later. While the rewards are not as attractive for day to day spending, the 40,000 point head start and waived AF for the first year along with some double point spending on restaurants and travel will likely outdo the Freedom's rewards over the first year by a considerable margin.

 

Consider: even if you somehow maxed out the Freedom's quarterly 5% spending (hard to do in lame quarters), the most 5% spending you can earn annually is $300 because it's capped at $1500 per quarter which gives you $75. The CSP starts you with 40k (worth at least $400) when you hit the spendign threshhold.

 

Then you PC before the AF hits if you don't want to keep it. Just a thought.

Start (Sept 2011): low-mid 600s. NOW: TU FICO: 801, EQ FICO 808, EX FICO 798 (PSECU). Goal: Achieved! Now Maintain!
Message 8 of 15
Themanwhocan
Senior Contributor

Re: What card should I get?



 I'd like to add either a Visa or MasterCard with decent perks (not everyone takes Amex, and I'm not comfortable linking some purchases directly to my bank account - sometimes a credit card is the way to go). Any favorites?

 

For reference, my AAoA is 5 years and my current scores are TU 826, EQ 701 and EXP 746. I opened the Amex last June; around the same time I took my first mortgage, and since then I've opened the CareCredit account for an unexpected vet bill. Received my 3x CLI on Amex in December; going for another 3x in June.

 


Hmm, are you sure your TU is 826, or was that a typo (or fako)?

 

Assuming you want cash back cards, I would suggest the Priceline Visa from barclays, the version that gives 2% back on everything (that version is at pricelinevisa.com). That's a good card for any purchase that you don't have a better card to use. And it usually pulls TU. The main problem is, I hear they really hate if you open other cards in the 6 months after you open their card. As in, they may just cancel your card if you do that.

 

Then either try for US Bank Cash+ if there is a US Bank in your area, and/or look into getting the various cards that have %5 rotating categories: Chase Freedom, Discover IT (which also has a good online shopping mall), Citi Dividend.

 

So, that's 5 possibilities, and each even has a signup bonus (except US Bank cash+).





TU-8: 804 EX-8: 805 EQ-8: 788 EX-98: 767 EQ-04: 752    
TU-9 Bankcard: 837 EQ-9: 823 EX-9 Bankcard: 837
Total $443,800
Message 9 of 15
Anonymous
Not applicable

Re: What card should I get?

All my scores are current as of 5/23; no typos. I assume TU is so much higher because Experian reports a 30-day late payment back in February 2007 (slated to fall off this year so I'm not too worried about it) and Equifax shows a collection on a medical bill that (fortunately) doesn't show on other reports. TU doesn't list either of those. (I was surprised there was such a difference, too.)

 

I also have a LOT (nearly 200k) of student loan debt...I'm current on all my payments but I'm not sure how that debt is weighted.

 

Long story short, until the last couple of years I didn't pay much attention to my credit score, how things affected it, and how much debt I was putting myself into. Dumb. I'm fortunate to be in a decent position, income-wise, to turn things around, but it's all still kind of "new" to me. On the positive side, my only debts are student debt and a mortgage, so my focus is on paying those down while using credit responsibly for daily purchases to rebuild a good score. Anything I put on a credit card gets paid in full at the end of the month.

 

Lots of great suggestions here - thank you!

Message 10 of 15
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