What card is better ?

Anonymous · ‎08-05-2017

So I got a quicksilver card with the 1.5 percent cash back but I'm also looking at the bankamericard rewards cash, is that card worth getting or should I just stick with the cap one ?

thom02099 · ‎08-05-2017

@Anonymous wrote:
So I got a quicksilver card with the 1.5 percent cash back but I'm also looking at the bankamericard rewards cash, is that card worth getting or should I just stick with the cap one ?

"Better" is always subjective. What's "better" for one person may not be so for another person.

If you would benefit from with rewards structure of the BankAmericard Rewards Cash, then it is a good card for you. Persumably, you also benefit from the Quicksilver card. Is there a reason it must be either/or? Why not have both cards, if both would be beneficial to you? Do you have other cards in your stable, or is the Quicksilver your one and only? If it is a solo card, the BankAmericard could be beneficial beyond what it specifically offers, as in a new TL for your credit profile. In the long run, that is beneficial.

Anonymous · ‎08-05-2017

Well the quicksilver card is my only one right now with a 750$ credit limit, so I'm looking for a higher limit card plus I do bank with Bank of America right now

thom02099 · ‎08-05-2017

@Anonymous wrote:
Well the quicksilver card is my only one right now with a 750$ credit limit, so I'm looking for a higher limit card plus I do bank with Bank of America right now

A lot depends on where you are in the process. How long have you had the Quicksilver card? If you're just starting out, it could be a challenge to get another card with a higher limit. But having an exisitng relationship with BofA can be beneficial unto itself. When I got my first BofA card I had a mortgage with them, so I'm sure that was a factor in their decision to give me one of their cards.

If you've just recently obtained the Quicksilver card, you may want to hold off on applying for another card. Use the Quicksilver, establish a track record with it.

Your total credit profile is also a factor. Do you have other TL, such as auto loan, personal loan, mortgage? What's your score picture like, your true FICO?

Google "credit pulls database" for the site of which we may not speak, and see where you stand versus where others have reported being granted credit.

Anonymous · ‎08-05-2017

You are in great hands with Thom. All the questions he's asking you are totally relevant and the general conceptual stuff he's giving you to frame your decisions is also spot on.

Among his questions, especially crucial are:

* How long have you had the Quicksilver card?

* What are your three FICO 8 scores?

An easy way to get those three scores is the $1 trial at Credit Check Total. It will also give you a very nice 3B report as well.

Anonymous · ‎08-05-2017

PS. You'll want to make sure your QuickSilver card has a small positive balance on it for the 40 days prior to any application for new credit. Since you have a $750 credit limit now, that could be any where between $5 and $65.