Next Card?

For just about anything you want to get off your chest about credit cards.
6 posts
JSS3
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Next Card?

Postby JSS3 » Sun Mar 17, 2013 7:26 am

Hello All. Newbie here looking for some advice.

For someone with a thin credit file(0 average age of Account).

-TU score 704 reported on CreditKarma
-Cannot view other scores as I have a thin file(N/A) as stated on CreditSesame
-Fingerhut account with a 500 CL 16% utilization
-Capital One card with a 500 CL
-Income 20,000/yr

Which card should I fix my sights on next and have a good chance of getting?
(1/13) Fingerhut - $1,100
(2/13) Capital One Quicksilver- $3,500
(3/13) Capital One Quicksilver One- $750 ($19 AF)
(8/13) Discover IT- $2,000
(8/13) Citi Dividend- $1,200
(8/13) Chase Slate- $2,500
(9/13) Chase Amazon Visa Sig - $4,000
(9/13) Victoria Secret- $750
(9/13) Paypal Extras Mastercard- $3,000
(9/13)] MyPoints Visa- $1,500
(10/13)Walmart Discover- 3,000


JSS3
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Joined: Sat Mar 09, 2013 12:24 pm
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Postby JSS3 » Mon Mar 18, 2013 5:36 pm

Well just applied for a Barclays and was denied. Shoot.

4 hard inquiries starting at Jan. (Amazon, 2-Capital Ones and Barclays) Resulting in 2 approvals(Capital One cards)

I will work with my Fingerhut and 2 Capital One accounts. No more inquiries for 6months.

I'm THINKING after that Chase Freedom and Discover IT.

Unless I'm on the wrong path.........?
(1/13) Fingerhut - $1,100
(2/13) Capital One Quicksilver- $3,500
(3/13) Capital One Quicksilver One- $750 ($19 AF)
(8/13) Discover IT- $2,000
(8/13) Citi Dividend- $1,200
(8/13) Chase Slate- $2,500
(9/13) Chase Amazon Visa Sig - $4,000
(9/13) Victoria Secret- $750
(9/13) Paypal Extras Mastercard- $3,000
(9/13)] MyPoints Visa- $1,500
(10/13)Walmart Discover- 3,000

swipe_masta
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Location: USA

Postby swipe_masta » Mon Mar 18, 2013 10:45 pm

You're average age of acct is 0 but how long exactly have you had your accts? Most companies pull Equifax or Experian, so Transunion score is kinda useless IMO. What are the specifics of the card type you are looking for? Are the cards you have secured cards? When in doubt, go with a secured card from who you bank with. A credit union is always a great place to bank and they are really lenient with their members.

A secured card with your bank or if not your bank, BofA or CapitalOne
Discover It
Citi Thank You
Chase Freedom

In that order (of my opinion on your approval rate)

MemberSince99
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Postby MemberSince99 » Tue Mar 19, 2013 6:34 am

It's not that a TU score is useless - that's FAR from the truth. Chase, Barclay's and Target all pulled TU for me, as did the dealer when I got a car last year. TU is hardly "useless". What's useless is the CK FAKO score. That's been anywhere from 30 to 70 points lower than my actual FICO. YMMV of course, but please bear in mind that is not a FICO score, so lenders do not use it, and it can be very different from your "real" score.

Having said that, I agree a credit union may be your best bet. You already have Cap One, and you probably (hopefully) aren't desperate enough to go for First Premiere or Credit One or the total bottom of the barrel.

The biggest thing that would keep you from getting top notch cards right now, if your FAKO score is anywhere near in the ballpark, would be a thin file. Most prime lenders want to see a history of use before they offer you credit. So I really don't see you applying for Amex, Discover, Citi, or Chase and being successful with no history. Thus I can't recommend you apply with any of those until you have at least 6 months of good history reporting. At that point, check your actual FICO score, and if it's around 700, apply for a couple of those.

JSS3
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Joined: Sat Mar 09, 2013 12:24 pm
Location: Pennsylvania

Postby JSS3 » Tue Mar 19, 2013 6:56 am

I'm not seeing my updated post that I added yesterday before your two replies came through. Ok here are more specifics.

Average age of Account on CreditKarma says 0 yrs 1 month now.

-Opened my Fingerhut account in Jan. 2013. I started with a $200CL. It reported in Feb. Now in March, my CL is $500.
-Opened an unsecured Capital One card in Feb. $500CL.
-On March 18th I went back and opened another unsecured Capital account. Again, $500CL Should be getting that card soon.

My 1st Cap One card has a $39 annual fee. The second has $19 after the first year. I wanted two cards close together so that if and we I go to dump the $39 one, it won't affect my AAoA too badly since they were both opened a month apart. I'm told Cap does not to conversions so I'll most likely dump the first card in the near future. I'll probably go back later on and get their Platinum card with the 0 annually or their Rewards card.

I'll repost my info since I don't see it here.

-Applied yesterday for a Barclay rewards and was denied. I am going to chill for 6months with my 3 cards making sure to pay on time and keep utilization low. I really wanted a rewards card but it seems I'm aiming too high.

Inquiries on my report are
-Amazon (Denied)
-Capital One (Approved)
-Capital One again (Approved)

And SOON(not showing up as of now)
-Barclays (Denied)

Ultimately, I'd like around 5-6 cards. I feel as if the Chase Freedom and Discover will be it for me. I don't need a lot of cards and always believed in paying for everything in cash(which ironically has me in this situation now). I'm also looking for reward cards.

Hope that clarifies things.
(1/13) Fingerhut - $1,100
(2/13) Capital One Quicksilver- $3,500
(3/13) Capital One Quicksilver One- $750 ($19 AF)
(8/13) Discover IT- $2,000
(8/13) Citi Dividend- $1,200
(8/13) Chase Slate- $2,500
(9/13) Chase Amazon Visa Sig - $4,000
(9/13) Victoria Secret- $750
(9/13) Paypal Extras Mastercard- $3,000
(9/13)] MyPoints Visa- $1,500
(10/13)Walmart Discover- 3,000

JSS3
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Posts: 57
Joined: Sat Mar 09, 2013 12:24 pm
Location: Pennsylvania

Postby JSS3 » Tue Mar 19, 2013 2:03 pm

Update:

Barclays showed up on my report.

Please excuse any above typos and or grammatical errors.

Thank you both for your replies. It's helped me a lot.


Discover, Citi, and Freedom all sound about right! They'll nicely round out my portfolio! In 6months to a year, I'll apply for all 3 in that very order.

Thanks again.
(1/13) Fingerhut - $1,100
(2/13) Capital One Quicksilver- $3,500
(3/13) Capital One Quicksilver One- $750 ($19 AF)
(8/13) Discover IT- $2,000
(8/13) Citi Dividend- $1,200
(8/13) Chase Slate- $2,500
(9/13) Chase Amazon Visa Sig - $4,000
(9/13) Victoria Secret- $750
(9/13) Paypal Extras Mastercard- $3,000
(9/13)] MyPoints Visa- $1,500
(10/13)Walmart Discover- 3,000



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