Which rewards ViSA or MasterCard?

[Anonymous]

I'm looking for one more card: a rewards VISA or a MasterCard. I'm willing to wait for awhile if I need to improve my credit report before I'd qualify for a better card.

The last FICO 8 that I saw (a little over a week ago) was 798 from TransUnion. My credit report is squeaky clean but thin. Most of my history is over the last six months.

I have an American Express Blue Cash Preferred (20k limit) that is great for groceries and I tend to use as my "daily driver" as well.

I have a Discover It (3k limit) that I intend to use primarily in the bonus category each quarter.

I have an Amazon Store Card that I use a lot on Amazon. It has just an $800 limit -- I'll wait until my first six months are up (next month) and pursue a credit limit increase.

The other two cards ($13,800 credit limit combined) I have could go away tomorrow for all I care. I don't need them, and I'll probably just let them sit until Comenity decides to close them.

I have enough cash on hand that I shouldn't ever need to carry a balance. So APR isn't a concern. I won't be transferring a balance. And credit utilization won't be an issue (I'll pay the cards down before statements close so my current credit limits are more than adequate).

I don't travel quite enough -- maybe two or three flights a year -- that travel rewards are all that appealing (unless someone could convince me that the travel rewards are more valuable than cash back rewards).

So that leaves cash back rewards as my primary concern, and, I suppose, any perks that might come with some cards as a secondary consideration.

I think one more card (in addition to the three that I use now) will round things out and be plenty. I think a VISA or Mastercard, because they're more likely to be accepted where the Amex and Discover might not be. And I think a cash back rewards card that will compliment the other two.

So what VISA or MasterCard would you suggest for me? As I said above, I'm willing to wait if I don't yet qualify for the card that would be the best fit.

[UncleB]

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@Anonymous wrote:

I'm looking for one more card: a rewards VISA or a MasterCard. I'm willing to wait for awhile if I need to improve my credit report before I'd qualify for a better card.

The last FICO 8 that I saw (a little over a week ago) was 798 from TransUnion. My credit report is squeaky clean but thin. Most of my history is over the last six months.

I have an American Express Blue Cash Preferred (20k limit) that is great for groceries and I tend to use as my "daily driver" as well.

I have a Discover It (3k limit) that I intend to use primarily in the bonus category each quarter.

I have an Amazon Store Card that I use a lot on Amazon. It has just an $800 limit -- I'll wait until my first six months are up (next month) and pursue a credit limit increase.

The other two cards ($13,800 credit limit combined) I have could go away tomorrow for all I care. I don't need them, and I'll probably just let them sit until Comenity decides to close them.

I have enough cash on hand that I shouldn't ever need to carry a balance. So APR isn't a concern. I won't be transferring a balance. And credit utilization won't be an issue (I'll pay the cards down before statements close so my current credit limits are more than adequate).

I don't travel quite enough -- maybe two or three flights a year -- that travel rewards are all that appealing (unless someone could convince me that the travel rewards are more valuable than cash back rewards).

So that leaves cash back rewards as my primary concern, and, I suppose, any perks that might come with some cards as a secondary consideration.

I think one more card (in addition to the three that I use now) will round things out and be plenty. I think a VISA or Mastercard, because they're more likely to be accepted where the Amex and Discover might not be. And I think a cash back rewards card that will compliment the other two.

So what VISA or MasterCard would you suggest for me? As I said above, I'm willing to wait if I don't yet qualify for the card that would be the best fit.

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If you're strictly wanting cash rewards, you have several options.  The new Fidelity Visa is a flat 2% for all transactions, but it's Elan/US Bank, which can be conservative for some folks.

Honestly, if it were me I would get a Capital One Venture... there's the equivalent of $400 sign up bonus with 2% cash rewards for all purchases (you just need to redeem against travel related charges).  There's no AF the first year, and when the AF comes around next year you can simply change it to a Quicksilver and still get 1.5% on all purchases (and that's straight-up cash, no need to redeem against travel charges).

There are other options as well - many just as good as my suggestion - but this would be my pick due to Capital One historically being generous with the initial credit lines on Venture and the ease at which many folks are approved.  That being said, with your scores you would most likely be easily approved with any of the major lenders.

Good luck, and let us know what you decide!

Edited to add:  Like most cards, Venture's sign up bonus does have a spend requirement, so be sure to take that into consideration when you're planning your application.

[Anonymous]

Thank you, UncleB. That's exactly the kind of advice I was hoping for.

I think I read recently that all Capital One Ventures are Signature VISAs. Is that the case? But a card like a Quicksilver is available both as a Signature and not.

If that's the case, would that mean that when convent it to a Quicksilver, it would likely be a Signature? Or not necessarily?

If you apply for a Quicksilver, can you apply specifically for a Signature (understanding the requirements are greater)? Or do you just apply and see what they offer? Or do you always start with a non-Signature and upgrade?

Thanks again for the reply. I really appreciate the advice.

[SouthJamaica]

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@Anonymous wrote:

Thank you, UncleB. That's exactly the kind of advice I was hoping for.

I think I read recently that all Capital One Ventures are Signature VISAs. Is that the case? But a card like a Quicksilver is available both as a Signature and not.

If that's the case, would that mean that when convent it to a Quicksilver, it would likely be a Signature? Or not necessarily?

If you apply for a Quicksilver, can you apply specifically for a Signature (understanding the requirements are greater)? Or do you just apply and see what they offer? Or do you always start with a non-Signature and upgrade?

Thanks again for the reply. I really appreciate the advice.

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I have both Quicksilver and Venture and like them both.

Venture gives you a higher starting credit limit, but Quicksilver gives you 1.5% cash back. Venture gives you 2 points per dollar on travel, but only 1 point per dollar if you redeem for cash.

Esthetically, the Venture is a beautiful card, and it does provide the Visa Signature benefits (not that I've ever used anything like that).

[Anonymous]

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@SouthJamaica wrote:

Venture gives you a higher starting credit limit, but Quicksilver gives you 1.5% cash back. Venture gives you 2 points per dollar on travel, but only 1 point per dollar if you redeem for cash.

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Thanks, Jamaica. Either option sounds good.

Do you know, if I started with a Venture and converted it to a Quicksilver in a year, as UncleB offered as one option, does the credit limit usually stay the same?

[Anonymous]

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@Anonymous wrote:

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@SouthJamaica wrote:

Venture gives you a higher starting credit limit, but Quicksilver gives you 1.5% cash back. Venture gives you 2 points per dollar on travel, but only 1 point per dollar if you redeem for cash.

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Thanks, Jamaica. Either option sounds good.

Do you know, if I started with a Venture and converted it to a Quicksilver in a year, as UncleB offered as one option, does the credit limit usually stay the same?

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It would stay the same

[UncleB]

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@Anonymous wrote:

Thank you, UncleB. That's exactly the kind of advice I was hoping for.

I think I read recently that all Capital One Ventures are Signature VISAs. Is that the case? But a card like a Quicksilver is available both as a Signature and not.

If that's the case, would that mean that when convent it to a Quicksilver, it would likely be a Signature? Or not necessarily?

If you apply for a Quicksilver, can you apply specifically for a Signature (understanding the requirements are greater)? Or do you just apply and see what they offer? Or do you always start with a non-Signature and upgrade?

Thanks again for the reply. I really appreciate the advice.

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As far as I know, all Ventures are (generally) 'Signature' cards with a minimum credit line of $5k.  There might be some folks around who PC'd a card that had a CL lower than $5k over to Venture, but new approvals are said to be $5k minimum - with many much higher - making them 'Signature' cards.

With the Quicksilver, the minimum approval is (again, generally) $3k, which is for a 'Platinum' card.  If your approval is for $5k or more the card will be issued as a Signature.  Also, if you have a Venture Signature and PC to a Quicksilver (for example, before the AF is due), it will still remain a 'Signature' as well (in other words, one you have the designation you get to keep it). 

What is difficult is going from Platinum to Signature with Capital One - it seems that if you start as Platinum, you tend to remain there even once your credit line passes $5k.  There have been folks who got the upgrade via the EO, but it was cumbersome.

When you apply for the Quicksilver, you'll get either the Sig or the Platinum based on your scores and income, and will automatically get the Signature if you qualify.  With your high scores, as long as you have even mediocre income to report I think you'll be OK.  I would check the prequal page just for 'kicks' to see what APR they have for you (if the prequal gives a specific rate, it's usually solid.  Also if it suggests for you to apply for Venture, that's generally solid as well).

I got my own Quicksilver Visa Signature back in March of last year before I was hanging around on here, or else I would have applied for the Venture instead.  Some folks will apply for Venture and Quicksilver back-to-back, and I don't think I've ever read of a case where somebody got a higher CL on the QS - the Venture always came with a higher starting credit line, sometimes drastically so. 

Hope this helps!

[SouthJamaica]

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@Anonymous wrote:

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@Anonymous wrote:

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@SouthJamaica wrote:

Venture gives you a higher starting credit limit, but Quicksilver gives you 1.5% cash back. Venture gives you 2 points per dollar on travel, but only 1 point per dollar if you redeem for cash.

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Thanks, Jamaica. Either option sounds good.

Do you know, if I started with a Venture and converted it to a Quicksilver in a year, as UncleB offered as one option, does the credit limit usually stay the same?

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It would stay the same

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Irish 80 knows more about these things than I, so I defer to that. Thing is, if I had a Venture and wanted a Quicksilver I wouldn't convert it; I would consider it a downgrade.  I would just add a Quicksilver, which is much easier to get than a Venture. The Venture is considered the top of the line at Capital One, and I would have to agree.

[UncleB]

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@SouthJamaica wrote:

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@Anonymous wrote:

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@Anonymous wrote:

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@SouthJamaica wrote:

Venture gives you a higher starting credit limit, but Quicksilver gives you 1.5% cash back. Venture gives you 2 points per dollar on travel, but only 1 point per dollar if you redeem for cash.

---

Thanks, Jamaica. Either option sounds good.

Do you know, if I started with a Venture and converted it to a Quicksilver in a year, as UncleB offered as one option, does the credit limit usually stay the same?

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It would stay the same

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Irish 80 knows more about these things than I, so I defer to that. Thing is, if I had a Venture and wanted a Quicksilver I wouldn't convert it; I would consider it a downgrade.  I would just add a Quicksilver, which is much easier to get than a Venture. The Venture is considered the top of the line at Capital One, and I would have to agree.

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+1

I can say with certainty that when you PC, your credit line will remain the same.  Of course you can always ask for a CLI at the same time, but that would be a separate consideration from the PC and not dependent on it.

The Venture is certainly the 'crown jewel' with Capital One, but personally I don't consider the Quicksilver a 'downgrade' from the Venture, just different.  To me, it's kind of like how Amex has a Platinum and the PRG... the Platinum has a higher AF, but it's not so much an upgrade from the PRG as it is simply a different product, with it's own perks and privileges that go along with the annual fee. 

Put another way, to make the Venture worth the AF you would need to spend $12k a year just to make it 'equal' to the Quicksilver rewards-wise, not taking the sign up bonuses into consideration (which honestly, many folks do, and I would as well). 

Your prequal will tell you pretty much if you're good for a Venture or Quicksilver (or not), so you don't have to do very much guessing.  Again, it's not 'guaranteed', but for most people it's solid. 

[Ron1]

Citi Double Cash MC is also good cash back card.

Ron.