Good credit card for gas and groceries w/ FICO score and no annual fee?

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7055
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Good credit card for gas and groceries w/ FICO score and no annual fee?

Postby 7055 » Sun Mar 30, 2014 5:32 pm

Want to start building up my credit score and I was looking for some recommendations.

I'm looking for:

1) No annual fee

2) The ability to have my balance automatically deducted from my account and paid in full every month so I don't have to worry about forgetting to make a payment

3) cash back on things like groceries, gas and stuff from amazon

4) Some kind of protection in the event of identity theft, such as not being liable

5) Preferably one that gives me a free FICO credit score

6) I don't think getting approved will be much of a big deal since I have been an authorized user on my parent's cards and have paid off student loans.



Also can somebody tell me what "CL" is or stands for?

And what is credit gardening?


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Dr.Mark
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Postby Dr.Mark » Sun Mar 30, 2014 5:45 pm

CL stays for Credit Limit.
I'm gonna leave the other questions to the experts of the US market.
[font=Times New Roman]American Express PRG[/font] [color=green][NPSL][/color]
[font=Times New Roman]British Airways American Express[/font] [color=green][9000£][/color]
[font=Times New Roman]American Express Platinum Cashback Everyday[/font] [color=green][6000£][/color]
[font=Times New Roman]Barclaycard Platinum[/font] [color=green][16600£][/color]
[font=Times New Roman]Virgin Balance Transfer[/font] [color=green][9600£][/color]

TCL - [color=red]41200£[/color]

thom02099
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Postby thom02099 » Sun Mar 30, 2014 6:12 pm

7055 wrote:Want to start building up my credit score and I was looking for some recommendations.

I'm looking for:

1) No annual fee

2) The ability to have my balance automatically deducted from my account and paid in full every month so I don't have to worry about forgetting to make a payment

3) cash back on things like groceries, gas and stuff from amazon

4) Some kind of protection in the event of identity theft, such as not being liable

5) Preferably one that gives me a free FICO credit score

6) I don't think getting approved will be much of a big deal since I have been an authorized user on my parent's cards and have paid off student loans.



Also can somebody tell me what "CL" is or stands for?

[color="red"]And what is credit gardening[/color]?


NOW you've done it! Paging Mr. Member...Mr Membersince99....please come to the white courtesy telephone!

Not knowing what your credit score and history looks like, it's going to be hard to directly answer your question. However, based on your criteria, the Discover IT card is one that would meet the 5 criteria you laid out.

If you don't have a credit card in your own name, and are only an AU on any cards, then you may be more limited than you realize. Again, Discover may be a good starting point for you.
Retired, and in the process of retiring cards!
EQ = 850 EX=849 TU = 850 as of 07/2017

darkguy2
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Postby darkguy2 » Sun Mar 30, 2014 6:21 pm

Any card will give you fraud protection. That is one of the perks of a credit card. If you want that free FICO score then Discover IT really is the best option for what you want like thom said. I am assuming that you are not a student any longer? If you were then it would be a lot easier to get the IT as the student card is the same as the regular one.

Gardening is when you have gotten all of the cards you want for the moment and you do not apply for any others while you are "in the garden". That way you will have the inquiries drop off your report and you AAoA will recuperate from the new cards being added. If you want to know the extremes of it then go over to myFICO. They will be more than happy to try to get you to join their gardening cult.
Discover IT - $5,700
Chase Freedom - $5,700
Costco Citi - $13,000
Sallie Mae - $4,000
Chase Sapphire Preferred - $6,000
Chase Sapphire Reserve - $19,500
Citi Double Cash - $6,500
Amex BCE - $13,000

FICOs: Discover (777), SallieMae (764), Amex (767), Citi (772)
FAKOs: CK- TU (760), EQ (760)

freyj6
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Postby freyj6 » Sun Mar 30, 2014 6:29 pm

I think Discover IT and Barclaycard arrival are the only cards that do FICO score right now.

If you're willing to go without it (or get two cards) it sounds like the Sallie Mae Mastercard might be the way to go. 5% on gas, groceries and amazon.
Current Strategy

Chase Freedom + Discover IT + Churning

7055
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Postby 7055 » Sun Mar 30, 2014 7:33 pm

freyj6 wrote:I think Discover IT and Barclaycard arrival are the only cards that do FICO score right now.

If you're willing to go without it (or get two cards) it sounds like the Sallie Mae Mastercard might be the way to go. 5% on gas, groceries and amazon.


Sallie Mae sounds like a raw deal considering Discover IT does 1% or 5% on everything unless they have something else going for them. Looking into the Barclaycard now

7055
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Postby 7055 » Sun Mar 30, 2014 7:34 pm

darkguy2 wrote:Any card will give you fraud protection. That is one of the perks of a credit card. If you want that free FICO score then Discover IT really is the best option for what you want like thom said. I am assuming that you are not a student any longer? If you were then it would be a lot easier to get the IT as the student card is the same as the regular one.

Gardening is when you have gotten all of the cards you want for the moment and you do not apply for any others while you are "in the garden". That way you will have the inquiries drop off your report and you AAoA will recuperate from the new cards being added. If you want to know the extremes of it then go over to myFICO. They will be more than happy to try to get you to join their gardening cult.


I'm not a student any longer, so no card will hold me liable if somebody steals my card number and racks up a bunch of charges?

thom02099
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Postby thom02099 » Sun Mar 30, 2014 7:44 pm

7055 wrote:I'm not a student any longer, so[color="red"] no card will hold me liable if somebody steals my card number and racks up a bunch of charges?[/color]


That's the beauty of the American Credit Card, thanks to a variety of legislation. Zero percent liability. Discover even advertises that on their website, but it's not unique to them. Read the T&C of any credit card, it's there.
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EQ = 850 EX=849 TU = 850 as of 07/2017

7055
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Postby 7055 » Sun Mar 30, 2014 8:28 pm

Was reading some fine print and found out the credit score they give you for the Dicover IT is based only on information from Transunion instead of all three.

Well, just got approved, that was easy

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otter
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Postby otter » Sun Mar 30, 2014 9:20 pm

7055 wrote:Sallie Mae sounds like a raw deal considering Discover IT does 1% or 5% on everything unless they have something else going for them. Looking into the Barclaycard now


Depends on yout spending habits. Nothing gives you 5% for everything. There are a handful which give 5% for a few things:
(1) Sallie Mae isn't a "raw deal" at least for me... if you use it right(first $250 each for gas and groceries) you should net $25 every month.
(2) Discover, Chase Freedom, and Citi Dividends are all 5% select categories each quarter. I have the Freedom and Discover IT and some quarters are useful for me, others not so useful. Dividend categories aren't good for me, IMHO.
(3) A few other cards let you pick the 5% cats(US Bank Cash+ and PenFed), but they have strict underwriting and I really don't know a lot about them.
(4) All the cards I mentioned and all the ones in my signature give at least 1% for everything.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450



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