Recommendations for a Second Card

For just about anything you want to get off your chest about credit cards.
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Ray
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Recommendations for a Second Card

Postby Ray » Fri Jul 18, 2014 1:18 am

For decades I've had only one credit card for convenience -- a Chase Freedom Visa. I put as much on it as possible, and pay it off automatically by direct debit every month.

Last night I received a fraud alert email from Chase, checked my account online, and discovered two fraudulent charges pending -- for the first time ever. I notified Chase immediately.

I like to keep my life simple, but this incident has made me realize that I need another card for times like this. I have a lot of questions about what kind of a second card I should get.

I'm assuming a non-Chase card would be best. If I had two different Chase accounts, would they both now be shut down due to the fraudulent charges on only one of them?

Then there's Visa versus MasterCard, Discover, or Amex. What are the pros and cons?

And what about credit rating issues? Would certain cards ... coupled with my Chase Visa ... help/hurt my CR? What about credit limits?

Are there any pros/cons to bank versus credit union cards ... or branded cards versus direct bank cards?

Of course I don't want to pay an annual fee ... I want a card with automatic monthly payments ... and one with cash-back I can apply to my monthly payment and not have to fool with receiving a check.

I don't travel, so those issues aren't important.

Am I forgetting something important? Thanks for any help!


MemberSince99
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Postby MemberSince99 » Fri Jul 18, 2014 4:05 pm

If you had two accounts they would not necessarily both be shut down unless both might have fraudulent activity. So no, not for just one.


I don't know. Visa is pretty much the standard these days. MasterCard hangs on, but fewer lenders are issuing them these days. Discover and Amex aren't accepted everywhere.


I don't see why certain cards would really matter much as far as your CR - all should equally help if you do it right or hurt if you don't.


It sounds like you want the perfect card. When you find it, I'd like to know the details on what it is - I'd like one myself.
There are a LOT of no-fee cashback cards that do auto pay. Just do the basic research.


Credit unions are known to give higher limits but not always true.


I'm sure you are forgetting something but you know, I'd really suggest you just do some research. Read on here, and elsewhere on the internet and do Google searches. Find the card that matches what you want out of it the best. Many will do the trick. But in the end you need to make the decision and pull the trigger so you may as well have done the legwork and that way you can be confident in your decision.

Ray
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Postby Ray » Sun Jul 20, 2014 5:07 pm

Thanks a lot, 99, for your thoughts.

After some research I settled on the Amex Blue Cash Everyday card. I applied on their website last night and was approved.

HOWEVER ... the Amex website gave me a lot of trouble during the application process. I spent four hours ... it kept freezing so I had to start over at least 20 times.

Then today I got an URGENT email from the Experian credit monitoring service -- Protect My ID. (I have the one-year free trial offered to victims of the Target breach.)

They were notifying me that someone had applied to Amex for a credit card in my name ... THREE TIMES ... no doubt due to the application glitches I experienced, and having to start over.

So I'm wondering ... are there now three hard pulls in my credit report ... and should I have this corrected? If so, how? Do I ask Amex to do it ... or Experian?

Thoughts anyone?

supercoolman
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Postby supercoolman » Mon Jul 21, 2014 12:39 am

could be something else. I remember people saying app multiple cards from same company within 12hour will take only one hard pull

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PlyrStar93
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Postby PlyrStar93 » Mon Jul 21, 2014 5:24 am

Ray wrote:They were notifying me that someone had applied to Amex for a credit card in my name ... THREE TIMES ... no doubt due to the application glitches I experienced, and having to start over.

This is a glitch in the ProtectMyID site. It shows the same hard inquiry three times, but you do not need to worry about it as they are simply showing the same thing repeatedly.

Below is what Chase did to me, but there are actually two hard pulls and one new account.
Image
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

MemberSince99
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Postby MemberSince99 » Mon Jul 21, 2014 5:35 am

My God, on FICO you'd practically be a terrorist for that many inquiries, in your entire life let alone in a couple of weeks.

rockyrock
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Postby rockyrock » Mon Jul 21, 2014 8:25 am

MemberSince99 wrote:My God, on FICO you'd practically be a terrorist for that many inquiries, in your entire life let alone in a couple of weeks.


lmao, for sure!
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC

supercoolman
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Postby supercoolman » Tue Jul 22, 2014 1:24 am

MemberSince99 wrote:My God, on FICO you'd practically be a terrorist for that many inquiries, in your entire life let alone in a couple of weeks.


people showed off getting approvals with 20+ inquiries on file at myfico.
I personally look for quality (high CLs+rewards) rather than quantity (20+ CCs)

MemberSince99
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Postby MemberSince99 » Tue Jul 22, 2014 10:46 am

supercoolman wrote:people showed off getting approvals with 20+ inquiries on file at myfico.
I personally look for quality (high CLs+rewards) rather than quantity (20+ CCs)




I do too. Some of them are not in that position so they go for whatever they think they'll get approved for, hence they use the "Shopping cart trick" to get 20 cards with 100 to 300 limits at stores they will probably never shop at. That's about the dumbest thing you can do. It will kill your AAoA for cards that can't help you. If you need to start somewhere, and everyone does, then get ONE of those cards and use it responsibly for 6 months or a year THEN go for a couple of prime cards. Don't get a ton of toy limit crap cards that have no future in your wallet. I know, I should preach, but it's the truth.



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