picking a card

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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bigredball90
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picking a card

Postby bigredball90 » Thu Jul 18, 2013 6:24 pm

My wife is looking to get her first credit card and we need some help picking one. She has just over a year of credit history from our car purchase last may always paid on time. Looking for a card to fit in with my AMEX BCE card. She doesnt like the revolving categories, and doesnt care if its cash or points. We travel maybe once a year, and dont spend very much each month. Willing to get a card with a AF that is waived for the first year to get the extra points and do a PC before the fee hits. Looked into the CSP and the barclay arrival world mastercard but idk if she will be approved for those.

If she applies for more than one card in a period of a couple of weeks does that count as 1 HP like a auto loan or several?


MemberSince99
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Postby MemberSince99 » Thu Jul 18, 2013 6:33 pm

If it's her first card, I'd forget about the CSP. Chase likes to see a year or two of credit card (NOT just credit as in car loans) history first, and they prefer a 5k+ limit be something she would already have from another lender. Unless there is more there, I would doubt she'd get that card right off the bat, even if you recon.

Credit card applications don't work like that in regards to your score, they will all ding it. Auto and home loans are different as you are expected to shop for the best rate.

cbkhor
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Postby cbkhor » Thu Jul 18, 2013 9:25 pm

MemberSince99 wrote:
Credit card applications don't work like that in regards to your score, they will all ding it. Auto and home loans are different as you are expected to shop for the best rate.


I do agree with this as I have experienced it. However, it will recover over time.
---
AMEX BCE - $10000
Chase Freedom - $2600
Discover IT - $3900
Capital One Quicksilver - $1700
Citibank Diamond Preferred - $3500
Members Choice Credit Union Secured - $500

RewardHop
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Postby RewardHop » Thu Jul 18, 2013 10:31 pm

bigredball90 wrote:We travel maybe once a year, and dont spend very much each month. Willing to get a card with a AF that is waived for the first year to get the extra points and do a PC before the fee hits. Looked into the CSP and the barclay arrival world mastercard but idk if she will be approved for those.


Have you checked her credit score on CreditKarma, CreditSesame, Credit.com, etc?
Those sites usually give you a ball park idea of what kind of score it takes to get those cards as well. I see the Barclays and CSP advertised on CK all the time.
[size=60]
Amex BCE: 3% grocery, 2% gas
Bank of America Better Balance Rewards MC: $25/quarter bonus
Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities
Capital One Quicksilver Visa Signature: 1.5% everything
Chase Freedom Visa Signature: 5% rotating
Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com
Discover It: 5% rotating
SallieMae MC: 5% Groceries, Gas, Amazon
US Bank Cash+ Visa Signature: 5% electronic stores, restaurants
Sock Drawered: Chase Sapphire, Chase Amazon[/size]

bigredball90
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Postby bigredball90 » Fri Jul 19, 2013 7:28 pm

Could she apply for the barclay arrival world mastercard with the af and is denied could she ask for the no fee version and not get another hp?
Planning on doing a pc to the no af version at 11 months or so to avoid the fee anyway.
She likes those and they would fit well with our spending.
Thanks for the help!

s.jessica
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Postby s.jessica » Fri Jul 19, 2013 8:04 pm

Something you could try

http://creditcardforum.com/offers/cardmatch.php

It helped me out. Being new to credit cards, she will need to look at something "entry level" and possibly settle for no points or cash back for her first card. Some of us have to start out with really crappy cards, AF, high APR, no rewards and some even require a security deposit. If she is able to get something without a security deposit or AF, that is a big first step. She might even want to consider a store card and use that for about 6 months before applying for a major card. You want to keep applications down as low as possible when starting out so you don't have 10 inquiries with 10 denials to go with them. It's recomended to apply for 1 card, then wait and see how it goes. If you get a denial, then they have to tell you why and you can use that information to fix things before applying again. Capital One normally has some really crappy cards and are not highly recommended, but I was recently approved for a Newcommer's card with $0 AF. Use it responsibly for a year then flip it to a better card. Discover IT also seems to like people who are new to credit.

SuperKirby
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Postby SuperKirby » Sat Jul 20, 2013 5:11 am

@bigredball90,
What kind of rewards does she want? That would make it much easier to choose the type of card. I'm sure she can narrow it down to something, weather it's cash, electronic items, a nice big gift card to her favorite store, or simply get some miles to make your 1 trip a year free!

bigredball90
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Postby bigredball90 » Sat Jul 20, 2013 9:10 am

shes looking for miles or points for traveling.

Midori
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Postby Midori » Tue Jul 23, 2013 9:36 am

Is there anything keeping you from applying for the perfect credit card yourself, and having her as an authorized user?

Is there anything keeping you from applying for a starter card yourself, and having her as an authorized user, and then letting her grow?

I spent about 10-12 years as a joint user on two of my husband's credit cards before I noticed that they didn't do anything for my personal credit history. (2 years as an AU on one of them, after they froze the card when I took a trip without him and we both were using it, lol.) I had all sorts of paid-off student loans, car loans, house notes, but the credit card companies wanted to see revolving credit. I was accepted for a starter card with an annual fee back in November; accepted for a ho-hum card back in January; was made an AU on one of his cards in January as well; and got an Amex at the beginning of this month.

Kripler68
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Postby Kripler68 » Tue Jul 23, 2013 12:16 pm

Sounds like her credit is to new to be looking at Visa Sig and World cards.
Baby steps for a year or 2 and then then maybe



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