Credit Card Thread

Thanks guys, that's a lot of helpful info.

I actually learned shortly after posting about high utilization of my credit being bad, and had no idea about it before.

One thing to note is that I do have two other credit cards which I'm not the primary on. I'm actually not sure how those are affecting my credit score, if they are, because they are hardly ever used (I mean the cards directly under my name). Again, I'll need to read up on how sub-holder cards affect me but even if they did it probably wouldn't help my situation because I'm still putting all my credit onto one card. I've avoided using the sub-holder cards in the past because the primary holders are my parents and brother, and it was a hassle to spend on those cards and have to keep track of the balance to pay them back every month.

I think I'll start making more citi card payments per month for now since I can definitely afford it. Since no real sign up offers are around anyway, I don't mind waiting for awhile. Plus it'll give me some more time to research and learn the smaller details. Sounds like I have a lot to learn, but thanks for the help so far.

Quote from fstop : One thing to note is that I do have two other credit cards which I'm not the primary on. I'm actually not sure how those are affecting my credit score, if they are, because they are hardly ever used (I mean the cards directly under my name). Again, I'll need to read up on how sub-holder cards affect me but even if they did it probably wouldn't help my situation because I'm still putting all my credit onto one card. I've avoided using the sub-holder cards in the past because the primary holders are my parents and brother, and it was a hassle to spend on those cards and have to keep track of the balance to pay them back every month.

Being an authorized user on someone else's card doesn't have the same effect it used. I was an authorized user on my parents card when I was in college in the late 90's/early 2000's. Back then it did seem to have a significantly positive impact on my credit. From reading up, it seems that nowadays you see virtually no benefit.

One exception is American Express, they consider your account age from the time you were added as an authorized user. Say your parents added you as an authorized user 5 years ago, and you applied for a new, totally different Amex today. Amex would effectively say that the new credit has an account age of 5 years.

Quote from bta15 : One exception is American Express, they consider your account age from the time you were added as an authorized user. Say your parents added you as an authorized user 5 years ago, and you applied for a new, totally different Amex today. Amex would effectively say that the new credit has an account age of 5 years.

I may be wrong, but I thought in this case, your new card would actually have a history dating back to the parent's date of account opening?

Quote from Chalupa2 : I may be wrong, but I thought in this case, your new card would actually have a history dating back to the parent's date of account opening?

That could be, I'm not sure whether its when they opened the account or when they added them as an authorized user. Either way it will have a positive impact.

Wow, that's actually some really good news. Both the accounts that I am a sub on are Amex, one amex macy's platinum and one amex blue. So looks like I can probably get approved for an Amex card quite easily. I've been a sub on them for at least 3-4 years.

I'll probably wait around for a decent sign up bonus. Plus I still want to sort things out with my current credit card and credit utilization, so I'll probably wait.

I'm debating what CC I should get. I was offered the discover student IT CC but curious if chase freedom is better. I feel that getting chase freedom is better since I can get back $100 for spending $500, where discover does not have any cash back after spending a certain amount. Also if chase is better, should I wait for when they have a better promo on the card? I've seen them have $300 cash back when spending $500 but I was not eligible. So which one is better? Could I get both, if I do what would be the pros and cons.

I am a low income college student. Spending habits are minimal: daily food, sometimes grocery shopping, occasional slickdeals etc...

Thanks in advance

Thanks to SD I now have as many Southwest miles as I'm likely to use for the forseeable future, and a companion pass on the way. I'm now looking to add another card to help with other travel expenses - car rentals and hotels. Car rentals would be my first choice, but hotel nights would also come in handy.

Any suggestions for what ot look at for car rental? If I instead go for a hotel nights card, would you suggest one of the Starwood cards?

Thanks in advance.

Hi everyone,

Hoping I can get help here. I only have 2 credit cards to my name: 1 Bank of America AMEX card I just don't use (I think it's somewhere in a drawer and I never activate the new ones I get) and 1 Amazon.com visa credit card.

I don't want an annual fee, don't care about interest rates because I pay everything on time and in full, and don't get miles, I focus on cash back.

For years now, I wanted to get a second credit card to use, but I can never seem to find the right fit. I generally find all those "3% gas, 2% groceries, 1% everywhere else" deals to be a sham, and those 5% CB for different categories every 3 months also never seem to be that enticing.

Can anyone recommend me a good CB, non-visa credit card I can use as my secondary? I keep hearing about Discover on here, but is it worth it? Should I try to transfer my AMEX to another, new card for better CB?

Thanks in advance

Quote from DickB : Thanks to SD I now have as many Southwest miles as I'm likely to use for the forseeable future, and a companion pass on the way. I'm now looking to add another card to help with other travel expenses - car rentals and hotels. Car rentals would be my first choice, but hotel nights would also come in handy. Any suggestions for what ot look at for car rental? If I instead go for a hotel nights card, would you suggest one of the Starwood cards? Thanks in advance.

I don't think there is a card specifically for car rentals. I have found that Chase's Ultimate rewards portal generally has the lowest price available for car rentals. You can use chase UR points for a 1.25c/point through their travel portal (i.e. 10,000 points is worth $125). This maybe as good as your gonna get with car rentals.

If you don't already have a chase card, I would recommend the Freedom for no annual fee or the Chase Sapphire Preferred if you don't mind the annual fee for the large sign up bonus.

Quote from mc2157 : Hi everyone, Hoping I can get help here. I only have 2 credit cards to my name: 1 Bank of America AMEX card I just don't use (I think it's somewhere in a drawer and I never activate the new ones I get) and 1 Amazon.com visa credit card. I don't want an annual fee, don't care about interest rates because I pay everything on time and in full, and don't get miles, I focus on cash back. For years now, I wanted to get a second credit card to use, but I can never seem to find the right fit. I generally find all those "3% gas, 2% groceries, 1% everywhere else" deals to be a sham, and those 5% CB for different categories every 3 months also never seem to be that enticing. Can anyone recommend me a good CB, non-visa credit card I can use as my secondary? I keep hearing about Discover on here, but is it worth it? Should I try to transfer my AMEX to another, new card for better CB? Thanks in advance

Fidelity Amex offers 2% everywhere. I've also heard good things about discover, I think they use the 5% rotating categories but have a good cashback shopping portal.

Quote from bta15 : I don't think there is a card specifically for car rentals. I have found that Chase's Ultimate rewards portal generally has the lowest price available for car rentals. You can use chase UR points for a 1.25c/point through their travel portal (i.e. 10,000 points is worth $125). This maybe as good as your gonna get with car rentals. If you don't already have a chase card, I would recommend the Freedom for no annual fee or the Chase Sapphire Preferred if you don't mind the annual fee for the large sign up bonus. Fidelity Amex offers 2% everywhere. I've also heard good things about discover, I think they use the 5% rotating categories but have a good cashback shopping portal.

Thanks!

Quote from mc2157 : Thanks!

Thanks guys!

Hey there, I was wondering if anybody could give me some advice regarding a new card. I only have one card, a Wells Fargo visa that I have had for about 18 months, which basically represents my credit history. I am looking for a new card since I would rather not be tied to my bank by it, and I'd rather open a new permanent account sooner rather than later. We always pay off our cards early, never carry a balance, but we don't spend a ton either so I'm not sure how much rewards we would actually accumulate. Currently I am thinking I should just get a rewards card focused on gas and groceries.

Also, I think the link for the amex blue card in the op is broken.

I have a quick question. I receive an American Express offer for I believe the green card. I want to apply for the Blue Cash everyday card but I'm not sure if I will get approved. I currently have 1 credit card through US bank, that I have had for 8 months. this is currently my only credit card.

Quote from paperfc : I have a quick question. I receive an American Express offer for I believe the green card. I want to apply for the Blue Cash everyday card but I'm not sure if I will get approved. I currently have 1 credit card through US bank, that I have had for 8 months. this is currently my only credit card.

Check your credit score (you can even use something like creditkarma just to get an idea). A lot of things affect your credit score and your chances of getting accepted for a card. I would say just apply for the card, and if you get turned down try to get an easier card in 6 months. Keep it for 6 more months, then apply for this one.

Without knowing more about your specific situation, I can't really offer much more than that.

Good luck .