Qualifying for a credit card with rewards?

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thegameksk
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Posts: 13
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Location: flint village 302-04d buffalo ny

Qualifying for a credit card with rewards?

Postby thegameksk » Sat Mar 05, 2011 9:57 pm

Hey all. I want to try to get a rewards credit card if possible. These are the card I currently own:

Capital one credit limit 500
HSBC/Sears 2500 limit
Amazon charge account 1200 limit
old navy charge card 1000 limit
Best buy 400 limit
Secured Bank of America 400 limit

My current credit score is 735. Is there any rewards card I might be approved for?

Also does it hurt your report if you apply for a card, get it, then decide to cancel the card? I only applied for the best buy card thinking I would get approved for the actual credit card not the store card so I am now considering canceling it. Thanks


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Mogul of Pineapples
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Joined: Sun Jun 01, 2008 11:32 pm
Location: Smogland

Postby Mogul of Pineapples » Sun Mar 20, 2011 4:52 pm

The Amazon charge account you mentioned, is that their credit card?

Although your credit limits are on the low side, you have several accounts and a good credit score, if that is your FICO and not a bureau score. But if Best Buy denied you for their MasterCard then the chances of qualifying for a good rewards card may be difficult for now.

Also does it hurt your report if you apply for a card, get it, then decide to cancel the card?


It won't hurt per say, but each hard credit check shows on your report for 2 years, affecting it for 1 year. Canceling the card right away might bring down the average age of your accounts. If it doesn't cost anything then I would leave it open.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred



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