Which gas cards will approve average credit?

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6 posts
CJD
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Location: Central FL

Which gas cards will approve average credit?

Postby CJD » Wed Feb 15, 2012 4:52 pm

I want to get a gas card to build credit without getting a rejected application ( learned that hurts credit )

  • Im 25 in central Florida / US
  • I am very uneducated when it comes to credit cards, and applying for them.
  • I did some research here and learned it was best to get FICO score, so I went ahead and displayed both FreeCreditScore and myFICO below.
FreeCreditReport

Current Credit Report

  • Experian = 710
  • Equifax = 710
  • TransUnion = 710
Experian Summary

  • Oldest Account Age = 7.3 years
  • Average Account Age = 5.4 years
  • Hard Inquiries = 4
  • Amount of Debt = 0 $
  • Negative Accounts = 1 ( 30 Days Late )
myFICO

Latest Scores:
TransUnion = 701
Equifax = 689

Summary:
Oldest Account Age = 7 years 5 months
Average Account Age = 5 years
Most recent missed payment = 2 years 11 months ago
Inquiries = 3

Good
No serious delinquency or derogatory description
Established Credit History
Recent Bills paid on time

Bad
Missed payments / derogatory indicators (1 account)
No recent activity on credit cards
No recent activity on revolving accounts

I've been on another website surfing through there list of the best gas cards which lists the Chase Freedom visa card (100$ back) as one available for "good credit".

Seeking help on what gas card I can get without getting rejected? All help is greatly appreciated. Thanks in advance.


Celestine
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Location: Los Angeles, California

Postby Celestine » Wed Feb 15, 2012 10:29 pm

First... How will you use the gas card that you are seeking? As primary card?

Second... How do you want to be "rewarded" by using the credit card - cash back, travel points, etc?

Third... Have a stable job or source of income?
"Nearly all men can handle adversity, but if you really want to test a man's character - give him power." - Abraham Lincoln

CJD
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Location: Central FL

Postby CJD » Thu Feb 16, 2012 6:46 am

Celestine wrote:First... How will you use the gas card that you are seeking? As primary card?


I currently have no credit cards. I spend roughly 400 to 450 $ a month filling up at the gas pump. I want improve my credit score ( has too few accounts - no credit debt ). For this reason I thought a gas card would be a start.

Celestine wrote:Second... How do you want to be "rewarded" by using the credit card - cashback, travel points, etc?


Cash back would be nice. I rarely ever travel by mass transit, I mostly drive.

Celestine wrote:Third... Have a stable job or source of income?


Yes. I work full time . make 50k+ / yr.

Celestine
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Postby Celestine » Thu Feb 16, 2012 6:02 pm

CJD wrote:I currently have no credit cards. I spend roughly 400 to 450 $ a month filling up at the gas pump. I want improve my credit score ( has too few accounts - no credit debt ). For this reason I thought a gas card would be a start.



Cash back would be nice. I rarely ever travel by mass transit, I mostly drive.



Yes. I work full time . make 50k+ / yr.


"Big Box" gas stations might accept VISA/Mastercard/Discover/American Express but not sure with those "smaller" gas stations.

This is just my opinion...

  • Capital One Cash Rewards for Newcomers (Mastercard - No Annual Fee)
  • Chase Freedom (VISA card or Mastercard - No Annual Fee)
  • Chase Sapphire Preferred ($95.00 Annual Fee)
  • Chase Sapphire (No Annual Fee)
  • Citi Dividend Platinum Select (VISA card or Mastercard - No Annual Fee)
  • Citi Diamond Preferred (Mastercard - No Annual Fee)
  • Blue Cash Everyday American Express (No Annual Fee - acceptance depends on where you are)
  • Blue Cash Preferred American Express ($75.00 Annual Fee - acceptance depends on where you are)
Or... If you have a Costco membership, then try to apply for the True Earnings Card American Express. There is no annual fee as long as you keep your Costco membership ($55.00 annually).

You may want to have a primary credit card not just for gas but also for other stuffs so you could start a revolving credit. For primary cards, VISA or Mastercard should do since those two are accepted almost everywhere compared to American Express and Discover.

I think whether the lender(s) will accept or reject your application is not 100% sure. Some luck adds to getting approved. I applied for Discover card when I received a Pre-Qualified offer from them in the mail but got rejected.

You should be able to get any one of those cards with your credit score and income. Just choose one or two cards.
"Nearly all men can handle adversity, but if you really want to test a man's character - give him power." - Abraham Lincoln

DavidNY
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Postby DavidNY » Thu Feb 16, 2012 6:07 pm

Chase Freedom 5% off gas sometimes

PenFed 5% off gas all the time

CJD
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Location: Central FL

Postby CJD » Tue Feb 21, 2012 4:44 pm

I was instantly approved for the Chase Freedom Visa Cash Back $200 Bonus card!

Big ups to Celestine and DavidNY for the feedback.

In the near future (within the year - next couple of months), I will have debt in my name through:
-mortgage on a home (my first house)
-auto loan (60 months)

Will this create revolving credit? From researching a bit, I know that it means to have credit debt through a variety of creditors/lenders?



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