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Credit Card Thread

thelnel52 2,440 February 12, 2010 at 01:22 PM
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BALANCE TRANSFER CARDS
Card Name Duration of 0% Fee Cap Link
Virgin America Visa Signature Card 6 months 3% $50 Link [virginamericavisa.com]
Escape by Discover Card 6 months 3% Uncapped Link [creditkarma.com]
Discover More Card 18 months 4% Uncapped Link [creditkarma.com]
Citi Forward Card 12 months 3% Uncapped Link [citicards.com]
HSBC GM Flexible Earnings Card 12 months 3% Uncapped Link [hsbcapply.com]
Barclays Coast to Coast 12 months 3% $75 Link [coastresortscard.com]
Chase Freedom MC 12 months 5% Uncapped Link
Chase Freedom Visa 12 months 5% Uncapped Link
Slate from Chase Visa 15 months 3% Uncapped Link



LOW APR CARDS
Card Name Duration of 0% APR Regular APR Link
Escape by Discover Card 6 months 10.99-15.99% variable** Link [creditkarma.com]
Miles by Discover Card 6 months 10.99-15.99% variable** Link [creditkarma.com]
Chase Freedom MC 6 months 12.99-22.99% variable** Link
Chase Freedom Visa 6 months 12.99-22.99% variable** Link
TrueEarnings Card from Costco and American Express 6 months 15.24% (prime rate + 11.99%) Link [americanexpress.com]
Citi Forward Card 7 months 12.99-19.99% variable Link [citiforward.com]
Discover Student Card 9 months 12.99-19.99% variable Link [creditkarma.com]
Discover Open Road Card 12 months 11.99-19.99% variable** Link [creditkarma.com]
Capital One Orbitz Visa Platinum 12 months (March 2012) 13.9-19.9% variable Link [capitalone.com]
Citi Platinum Select MasterCard 12 months 11.99-19.99** Link [citicards.com]
Slate from Chase 15 months 11.99-21.99% variable** Link
** APR depends on credit score


HIGH REWARDS

Card Name Rewards Link
Discover Student Card 5% CB on certain categories (rotates monthly, must manually sign up online); .25% CB on everything else, 1% when you reach $3000 Link [creditkarma.com]
Citi Forward Card Points redeemable for gift cards; 5 points/dollar for entertainment, 1 point/dollar for other purchases, 6000 points for spending $250 within first 3 months Link [citiforward.com]
AmEx Plum Card 1.5% discount for prompt payment OR 2 months with no interest Link
Discover More Card 5% CB on certain categories (rotates monthly, must manually sign up online); .25% CB on everything else, 1% when you reach $3000 Link [creditkarma.com]
AmEx Blue Card 3% cash back at supermarkets, 2% cash back at gas stations and department stores and 1% cash back on all other eligible purchases Link
Penfed Visa Platinum Cashback Rewards 5% on gas, 1% on everything else; must be Penfed member; second card on list Link [penfed.org]
Associated Bank Visa Signature Rewards Card 1% CB on everything, 1 point per dollar, 3 points per dollar on groceries, gas, drugstores Link [associatedbank.com]

1,081 Comments

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#631
Quote from pipdipchip View Post :
I signed up for several credit cards when I was 18/ 19 from Bank of America (limit: $1,200), Chase (limit: $300), Capital One (limit: $300 and $750), Citi (limit: $3,000), Discover (limit: $500), and Orchard Bank (limit: $300). They are all close to max but I haven't really used them in a couple of years. Most of the credit limits have never been raised except BOF. Orchard Bank has a $50 annual fee. the rest don't. I've just been paying mostly just minimum payments for the last 5 years but I've never once missed a payment on anything. I'm now almost 25 and have a job that pays almost $50k. I've just started to make large payments on the cards and they should be paid off by July. I have a few questions.

1. I know closing accounts is bad but Orchard Bank is basically useless and has a $50 annual fee. Should I close it? Also, it doesn't make sense in my mind to have two cards with Capital One. Would it be possible to merge the credit limits and keep the account number that I opened the longest ago?

2. I don't plan on using much credit after I pay everything off. I'm planning to keep them close to $0 but use them here or there to continue building history. That said, the credit limits are low and most of the cards don't have any rewards. Is it worth trying to increase the limit, decrease the APR, and maybe even upgrade to a better card with rewards? How long will have to wait once everything is paid off and my credit score improves to apply for better cards?

3. If I do upgrade some of the cards, is it possible to keep the account number and history so that the age of my accounts and credit history isn't affected? Anyone have any experience doing this?
1. I wouldn't think you'd get much of a hit from closing the Orchard card since it has such a low limit (so it represents a small portion of your total credit) and you have several other accounts. You could merge the CapOne cards but then you'd be closing two accounts.
2. Definitely try to upgrade to a better/rewards card. Since you don't have any derogatory marks (do you? No late payments etc?) I would expect your score to improve pretty rapidly, within a month or two of improving your utilization ratio by paying down the balances. Since you're already paying them down I'd expect your score to start looking pretty good very soon - there's no "memory" in the system for utilization, only for missed payments and other derogs.
3. not sure about this but I don't think upgrading your card hurts your history/account age. Someone correct me if I'm wrong but I've never noticed this to be the case.
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#632
504 Gateway Timeout
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#633
Canadian citizen just moved to US looking to get a card that will give me some sort of CB or rewards on the purchases I make down here.

I have good canadian credit but probably non-existent US credit. Any options?
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#634
Quote from MrCodeDude View Post :
My Sapphire Preferred renewal comes up in March and I'm wondering if it's worth it to pay the fee ($95/yr) or if I should downgrade to the (free) regular Sapphire or migrate to the Freedom.

Most paid cards have some sort of annual incentive to keep you (e.g. my Delta Amex gives me a companion pass every renewal), it doesn't look like the Sapphire Preferred offers anything.
The Sapphire Preferrred has a 7% dividend on points earned in the prior year. I'm not entirely sure what's included in this dividend though, does anyone else know? For example, is the signup bonus included? Are bonuses from Ultimate Rewards included? Thanks.
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#635
This thread really needs to be updated. Last summer I did a Citi Simplicity and got 0% APR on purchases and BT for 18 months. I believe the fee was 4%, uncapped.
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#636
Quote from Dem Bums View Post :
The Sapphire Preferrred has a 7% dividend on points earned in the prior year. I'm not entirely sure what's included in this dividend though, does anyone else know? For example, is the signup bonus included? Are bonuses from Ultimate Rewards included? Thanks.
I don't have it anymore but yes and yes, or atleast it used to be that way.

I got 100,000 UR points because of a deal here a year or two ago and ended up getting something like 10,000 points as a yearly bonus (extra 3k because of my spend on the card).
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#637
Wanted to put in my 2 cents on possibly one of the worst reward programs. Citi Easy Deals (previously called Extra Cash) If you are looking at a Citi card that offers this program I recommend getting a card that has Citi Thank you rewards instead,
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#638
Quote from birarda View Post :
Canadian citizen just moved to US looking to get a card that will give me some sort of CB or rewards on the purchases I make down here.

I have good canadian credit but probably non-existent US credit. Any options?
I was looking into the opposite (getting a Canadian card with US credit) and a couple people suggested that certain banks with a presence in both countries(TD, RBC) had the ability to pull a US credit report and take it under consideration. It's probably less likely that the reverse would be true, but worth looking into. Otherwise, you're looking at either starting from scratch with a secured card or perhaps talking to a real human in a real branch, showing them your Canadian finances and convincing them to use their discretion to give you credit.
Quote from aznnp77 View Post :
This thread really needs to be updated. Last summer I did a Citi Simplicity and got 0% APR on purchases and BT for 18 months. I believe the fee was 4%, uncapped.
Are you volunteering? Smilie
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#639
Which is the best card for reward/cashback for buying airline tickets? I will be spending over $4000 on airline tickets. I have very good credit score. Right now I have Chase Freedom, United Mileage Plus Explorer, Costco Amex, Citi Thankyou.

I am also planning to get a new credit card with no foreign transaction fees. Which card is best with regards to signin bonus? I pay my bills on time so balance transfer offers is not for me.
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#640
Quote from dadmi View Post :
Which is the best card for reward/cashback for buying airline tickets? I will be spending over $4000 on airline tickets. I have very good credit score. Right now I have Chase Freedom, United Mileage Plus Explorer, Costco Amex, Citi Thankyou.

I am also planning to get a new credit card with no foreign transaction fees. Which card is best with regards to signin bonus? I pay my bills on time so balance transfer offers is not for me.
For traveling, I recommend chase sapphire. (3 months 3k will net u 40k in points)


also its pretty so thats a plus
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#641
I'm going on a honeymoon soon and I'd like to rack up some more points. I have about 100K Chase Ultimate Rewards points. If I signup for the Chase cards with Marriott, United, or Priority Club - are the bonus points they are referencing Ultimate Rewards points, or points with those specific companies?

https://creditcards.chase.com/rew...tg=leftnav
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#642
Quote from Dem Bums View Post :
I'm going on a honeymoon soon and I'd like to rack up some more points. I have about 100K Chase Ultimate Rewards points. If I signup for the Chase cards with Marriott, United, or Priority Club - are the bonus points they are referencing Ultimate Rewards points, or points with those specific companies?

https://creditcards.chase.com/rew...tg=leftnav
Those are specific company points not UR rewards points. If you get a Chase Sapphire preferred, freedom, or ink (bold,plus, etc), those will all UR rewards.

Where are you trying to honeymoon to? You might want to get Chase British Air visa as it has 100k signup bonus or 2x Citi American air cards for 100k miles...

All depends on where you are trying to go...
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#643
Quote from bta15 View Post :
Those are specific company points not UR rewards points. If you get a Chase Sapphire preferred, freedom, or ink (bold,plus, etc), those will all UR rewards.

Where are you trying to honeymoon to? You might want to get Chase British Air visa as it has 100k signup bonus or 2x Citi American air cards for 100k miles...

All depends on where you are trying to go...
southeast asia. I already have a Sapphire Preferred and a Freedom. I wish I knew about that British Airways card awhile ago, I don't have enough time to reach those spending requirements now.
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#644
Also, can you downgrade that British Airways card before getting hit with the annual fee? I'm not seeing any free versions of the card to downgrade to. Thanks.
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#645
British airways does not have annual fee waived first year, so you are going to have to pay the fee at least once. then you will have to cancel to avoid fee second year.

Also, due to fees and surcharges, BA avios are primarily good for short haul, domestic, direct flights, so I don't think it would be all that useful for your honeymoon.

Quote from Dem Bums View Post :
southeast asia. I already have a Sapphire Preferred and a Freedom. I wish I knew about that British Airways card awhile ago, I don't have enough time to reach those spending requirements now.
You are probably best getting that united card with the 50 or 60k whatever sign up bonus...I've seen it talked about on flyertalk a bunch, i think its still live.
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