Credit Card Forum
  1. #1
    thegameksk
    thegameksk is offline
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    Default Qualifying for a credit card with rewards?

    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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    Reply With Quote Reply With Quote     Mar 5, 11, 7:57 pm
  2. #2
    Mogul of Pineapples
    Mogul of Pineapples is offline
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    Default

    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. 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: Citi Thank You Premier
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    Reply With Quote Reply With Quote     Mar 20, 11, 2:52 pm
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