Which card should I go for?

[Jenmerie]

Hey guys,

I was thinking of app'ing for a new card.  I keep getting Cap One Mastercard pre-qualifiers in the mail as well as Discover.  My last two cards were back in December (CreditOne) and Feburary (Hooters).  So, it's been 7 months since I've app'd.  I was considering the Cap'One or the Walmart Store card.  The last time I checked my TU my score was 626 five months ago, i'm almost positive it's higher now.  My Equafax just reached 602 last week.  As a rebuilder which card would be best? Walmart or Cap one?  Thanks in advance.

[Creditaddict]

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@Jenmerie wrote:

Hey guys,

I was thinking of app'ing for a new card.  I keep getting Cap One Mastercard pre-qualifiers in the mail as well as Discover.  My last two cards were back in December (CreditOne) and Feburary (Hooters).  So, it's been 7 months since I've app'd.  I was considering the Cap'One or the Walmart Store card.  The last time I checked my TU my score was 626 five months ago, i'm almost positive it's higher now.  My Equafax just reached 602 last week.  As a rebuilder which card would be best? Walmart or Cap one?  Thanks in advance.

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Both so you can get a card that will grow with you (cap 1) and a store card to give you a good credit mix for scoring

[Anonymous]

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@Creditaddict wrote:

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@Jenmerie wrote:

Hey guys,

I was thinking of app'ing for a new card.  I keep getting Cap One Mastercard pre-qualifiers in the mail as well as Discover.  My last two cards were back in December (CreditOne) and Feburary (Hooters).  So, it's been 7 months since I've app'd.  I was considering the Cap'One or the Walmart Store card.  The last time I checked my TU my score was 626 five months ago, i'm almost positive it's higher now.  My Equafax just reached 602 last week.  As a rebuilder which card would be best? Walmart or Cap one?  Thanks in advance.

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Both so you can get a card that will grow with you (cap 1) and a store card to give you a good credit mix for scoring

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As far as rebuilding goes, if you can get it and it reports to all 3 CB, they are basically the same.  A positive history of payment counts the same from all lenders.   However, bigger CL would be better for rebuilidng as well.  

I would apply the Walmart first (Probably easier), and in 6 months go for the Capital One in 6 months when you might get a better Capital One card.

[Jenmerie]

Thanks guys for the advice.  I chose to go with Walmart...I got instantly approved for $700.  I'm very happy with this!  Hopefully it will climb as I PIF each month.  Should I really bother to apply for cap1 at this point?  

[Creditaddict]

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@Jenmerie wrote:

Thanks guys for the advice.  I chose to go with Walmart...I got instantly approved for $700.  I'm very happy with this!  Hopefully it will climb as I PIF each month.  Should I really bother to apply for cap1 at this point?  

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yes and then close credit one with it's fees

[Anonymous]

In the future, you will want to replace your Credit One with something better, like Cap1 or Discover.   I would wait 3 to 6 months before applying for next card.

[Creditaddict]

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@Anonymous wrote:

In the future, you will want to replace your Credit One with something better, like Cap1 or Discover.   I would wait 3 to 6 months before applying for next card.

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Why wait, the poster only has 3 inq in last year, it's not going to hurt to add the Cap 1 now.  I might wait 6 months for Discover because they will be a lot harder to get, but if cap approves and puts poster in credit steps, 6 months down the road they will already have the first credit step increase vs if they wait they will be starting fresh next year with new account

[Anonymous]

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@Creditaddict wrote:

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@Anonymous wrote:

In the future, you will want to replace your Credit One with something better, like Cap1 or Discover.   I would wait 3 to 6 months before applying for next card.

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Why wait, the poster only has 3 inq in last year, it's not going to hurt to add the Cap 1 now.  I might wait 6 months for Discover because they will be a lot harder to get, but if cap approves and puts poster in credit steps, 6 months down the road they will already have the first credit step increase vs if they wait they will be starting fresh next year with new account

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I think you might get a better card if you wait.   Maybe 3 months would be better.  

[Creditaddict]

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@Anonymous wrote:

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@Creditaddict wrote:

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@Anonymous wrote:

In the future, you will want to replace your Credit One with something better, like Cap1 or Discover.   I would wait 3 to 6 months before applying for next card.

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Why wait, the poster only has 3 inq in last year, it's not going to hurt to add the Cap 1 now.  I might wait 6 months for Discover because they will be a lot harder to get, but if cap approves and puts poster in credit steps, 6 months down the road they will already have the first credit step increase vs if they wait they will be starting fresh next year with new account

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I think you might get a better card if you wait.   Maybe 3 months would be better.  

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I suppose but most likely we are probably talking about rather you get the $300 starting limit or the $500 starting limit. Maybe let the new Walmart card post to credit and then apply since that's your highest right

[Anonymous]

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@Creditaddict wrote:

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@Anonymous wrote:

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@Creditaddict wrote:

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@Anonymous wrote:

In the future, you will want to replace your Credit One with something better, like Cap1 or Discover.   I would wait 3 to 6 months before applying for next card.

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Why wait, the poster only has 3 inq in last year, it's not going to hurt to add the Cap 1 now.  I might wait 6 months for Discover because they will be a lot harder to get, but if cap approves and puts poster in credit steps, 6 months down the road they will already have the first credit step increase vs if they wait they will be starting fresh next year with new account

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I think you might get a better card if you wait.   Maybe 3 months would be better.  

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I suppose but most likely we are probably talking about rather you get the $300 starting limit or the $500 starting limit. Maybe let the new Walmart card post to credit and then apply since that's your highest right

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Worth the wait.