Looking for a new credit card.

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Looking for a new credit card.

Postby belabeaner » Sun Sep 21, 2014 7:39 pm

Hi. The credit card I have been using isn't giving me any rewards so I would like to get something new.

I have great credit and do not keep a balance on my card. I don't spend a ton (usually under $500 month) and never travel. What do you recommend?



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Postby PallasAthena » Sun Sep 21, 2014 10:40 pm

Discover It. 5% cash back on many purchases. I love it.
Dec '16 Fico: 800+
Ch 7 BK in '06, finally dropped off in '16
2 mortgages
paid off car
$0 CC debt (Disc, Citi, and WF Amex)

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Postby MemberSince99 » Mon Sep 22, 2014 11:01 am

Yep, especially if you don't have much credit already and fair scores (mid to high 600s). They seem to favor that demographic over people with high 700s or 800s and lots of cards.

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Postby Naa Laa » Mon Sep 22, 2014 11:20 am

I would recommend Fidelity Investment Rewards American Express Card - 2% cash back on all purchases. You seem to be young and just getting started. Investing early will go long way than any reward (assuming you don't spend the cash back).

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Postby Vattené » Mon Sep 22, 2014 11:32 am

Since you don't travel, you are probably best suited for a cash back card.

More info on your spending would help us determine specific cards that would serve you well. If you plan on keeping your spending low, you probably won't be intereated in a card with an annual fee, but you can do the math to see if your spending will justify it. Do you have a preference on an issuer, or do you just want what can get you the most? If it is the latter, the Capital One Quicksilver may be a good option for 1.5% back on everything. They don't have the best reputation around here, though. Don't expect good customer service or a card that will grow with you over time.

I would also recommend the Discover it. I have it and love it. Plus, as Member pointed out, you are likely their target demographic. The Chase Freedom is very similar - 5% quarterly categories and 1% on everything else. You should look into the Discover it chrome for 2% on restaurants and gas (also 1% on everything else). Again, it really depends on your spending.

You don't spend much, but will you use your card frequently? Consider the Amex EveryDay for a 20% bonus if you think you will have 20+ swipes a month. Lastly, I think the Amex Blue Cash Everyday is a good option: 3%, 2%, and 1% on groceries, gas/department stores, and everything else, respectively.
FICO-8: EX - 827 (5/17) | TU - 824 (5/17)
My Cards: Barclay Arrival+ | Discover it | Amex ED
AU:: Discover Miles | BofA BBR | Barclay Commence (SD'd)

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Postby belabeaner » Sun Sep 28, 2014 8:07 am

Thanks for your replies. There are so many choices it is overwhelming!

I'm not young...just make mostly cash purchases due to current income source. I use my credit card mostly for internet purchases.

Last time I checked my credit was in the 700's.


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Postby PlyrStar93 » Sun Sep 28, 2014 10:22 am

It has a lot to do with the categories of your spending really. Like all above have pointed out, consider how your spending pattern is first, and then you would figure out which fits. Also based on the amount of spending, a no-annual-fee card may be better than the annual-fee version.

Sallie Mae MasterCard - grocery, gas, bookstores
AMEX BCE - grocery, gas
Discover it - rotating: restaurants, home improvement, gas, online shopping, etc.
Chase Freedom - rotating: gas, restaurant, Amazon & dept. stores and etc.
And etc.

If you do not have particular categories, then get a plain high cash back (like the Cap One QS/Citi Double Cash/FIA AMEX/etc.) card.

If you feel like Internet purchases, for right now Discover it may be a good choice, as from Oct to Dec they give 5% back for online shopping. For the other quarters it may or may not be very useful, but still depends on how you spend.

Assuming your 700's is FICO, you should have not so much problem with most prime issuers, but to choose a right one you will have to consider how exactly you spend.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

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Postby CarefulBuilder14 » Sun Sep 28, 2014 7:58 pm

Discover It and Chrome have a lot of special rewards (beyond the bonus spending categories) when it comes to online shopping.

Any Amex will get you a free ShopRunner membership (free shipping at several websites).
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

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