Hi,
I currently have one credit card, a Discover Secured (been unsecured for 1.5 years), which I’ve just passed the 2-year mark of having this month. It currently has a 4,000 limit.
There are a few cards I’d like to get, but since I don’t need any of them, my priority is to do the smartest thing credit wise. Hence me being here asking you smart peeps! 
My current scores (according to Credit Karma):
Transunion: 741 (1 hit — from a year ago)
Equifax: 754 (0 hits)
My FICOs:
Transunion FICO: 776
Experian FICO: 765
The cards I’m interested in:
- Chase Freedom Unlimited - I applied for this March 2018 and was denied for insufficient credit history - which is where the hit came from.
- Amazon Prime Rewards - Frequently shop here
- Target Red - Also frequently shop here
I’m also interested in the Amex Blue Cash for groceries, Amex offers, and diversifying. But I’d consider that a future project—unless you think I should bump it up.
Note, I’m a relatively new US citizen which is why my credit history is very new.
Thanks!
Hi Art21, welcome! Is there any chance you can get the Discover card unsecured? Also, everyone here will tell you to get your true Fico scores to get a better idea of where you’re at. You can purchase a 3B report here or get them elsewhere (some banks and cards offer them for free). Credit Karma uses a different score model that lenders don’t use so your actual scores could be different. I think a Experian might still offer a free 10-day trial.
With that said, I would go to the free prequalification sites for Capital One, AMEX, Discover, and Citibank to see if you get any card offers first without a hard pull. Chase likes thicker files so it’s not surprising they declined. Credit Unions also have some good credit card offers, but you have to join first and that’s a hard pull too.
I’d suggest to try and get two more cards so that you have three total. Use them, pay in full every month, and let them age.
With that said, I would go to the free prequalification sites for Capital One, AMEX, Discover, and Citibank to see if you get any card offers first without a hard pull. Chase likes thicker files so it’s not surprising they declined. Credit Unions also have some good credit card offers, but you have to join first and that’s a hard pull too.
I’d suggest to try and get two more cards so that you have three total. Use them, pay in full every month, and let them age.
Hi!
Thank you both for your quick and helpful replies.
Sorry, I should've stated that the Discover card is now unsecured. I acquired it secured, but they unsecured it 7-months into me owning it. So it's been almost 1.5 years of unsecured. (They've also given me 2X CLI since owning, so that's a nice plus.)
My FICOs:
Transunion FICO: 776
Experian FICO: 765
I reguarly get a prequalified mail from Capital One for their Platinum Mastercard. I've been getting that for over a year now but I was hoping for something with some more benefits. (It appears to offer less than my Discover.)
Edited to include:
I checked out the prequalified sites for the major guys and here's what I got:
Discover: Discover IT Cash Back and the Discover IT Chrome.
Amex: EveryDay Credit Card, Gold Card, Green Card.
Citi: No prequalified offers
CapitalOne: Savor, Quicksilver Rewards, SavorOne (I do have a savings account with Capital One, if they use this info when prequalifying. Strange that they always send me mail for the Platinum vs what they're showing now.)
With more time on that Discover under your belt I would go for the one you would use the most for your spending from Chase and your choice of Amex to fit your spend and then let them age 6 months before going for more that fit your spending patterns. Welcome to the board
Ok, those scores are great! Nice job. I think the only thing that’s holding you back from getting more prime cards like Chase is that you only have one card. I think if you get a couple of more cards, age them, and use responsibly, you’ll qualify for those bigger cards in no time. From your prequals, I’d suggest the AMEX Every Day and maybe the Savor or QuickSilver, since you already have Discover. Don’t bother with the CapOne Platinum since the others are better cards and offer rewards. Whatever you decide, try to go for ones with no annual fee, especially if you won’t be using your cards heavily.
If you shop at Target like me, try their debit card. You get all of the same discounts and benefits without the hard pull. Plus, they can sometimes give low limits, which makes it hard to use in my opinion.
Let’s us know if you have anymore questions. I’m happy to help. Make sure to let us know what you decide and get approved for!
If you shop at Target like me, try their debit card. You get all of the same discounts and benefits without the hard pull. Plus, they can sometimes give low limits, which makes it hard to use in my opinion.
Let’s us know if you have anymore questions. I’m happy to help. Make sure to let us know what you decide and get approved for!
I don’t suppose it hurts to wait until it reports as 2 years old, but I’m not sure what the benefit would be (if any) since you just have the one card. I say apply for the cards you want, so go for Quicksilver first at least. You might still be able to get one of the other AMEX cards you like, but I’m not familiar enough to know if you’ll get it. I think there’s a chance you will (even if it’s not prequalified), but I’d let someone else chime in on that.
Sounds good!
The one thing giving me pause on the QuickSilver application is this line at the top under 'Excellent Credit': "I've had a loan or credit card for 3 years or more with a credit limit above $5,000."
Since I'm virtually at 2 years, and my credit limit is 4000, I'm under this 'bounday'. Is this a hard limit or do they tend to look at the whole picture? Similarly, I noted that CreditKarma (I'm not sure how much faith I should put in them), rate my approval as 'Poor' for this card, however, as you know, Capital One recommended it when I checked for prequalified.
Sorry for all the q's. IIRC Capital One hit all 3 bureaus so I'd really like to not screw this one up.