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Next Credit Card ?


Vettecor
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The last post in this topic was posted 1443 days ago. 

 

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My aunt until 19 months ago never had a credit card. She opened a secured Open Sky account with a $1000.00. 11 months ago she opened a non secured Discover Card with a $3000 limit but gave her 2 increases so now has a $3800.00 limit. 7 months ago she got a non secured Capital One Card. $4200 limit.

 

Her FICO scores average out to 735. No derogs or late payments. She applied for a Chase Freedom Card but was denied because of limited credit.

 

She would like to have 1 more card but doesn't want another denial. What card would you suggest ?  She makes $48,000 per year.

 

Thanks

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It's hard to recommend a card without knowing what the person's goal is, or what the major expenditure categories are.

 

Since her (thin) history is all positive, I would decide what the ideal card portfolio would look like in 24 months based on spending habits, and then take baby steps to get there.  

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She wants a rewards CC that gives her decent cash back on groceries, gas. etc. She does very little travel outside of the USA. Did a lot of traveling while her husband was still alive. She does go to Hawaii every year to visit family. She pays her credit card balance in full every month to avoid interest.

 

Thanks for the quick reply.

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Since she travels infrequently, I would guess a cash back card would be here best bet.  She should shoot for something that give a minimum of 2% cash back.  She should look back at her spending for the last 6-12 months and lump it into major categories that align with the rewards cards out there.  The best combo would be a 2%+ card for all of her general spending and 1-2 cards that offer bonus %s in the categories she spends the most in.  Without knowing the spending profile it is impossible to recommend a best solution.

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On 12/17/2018 at 11:39 AM, Vettecor said:

My aunt until 19 months ago never had a credit card. She opened a secured Open Sky account with a $1000.00. 11 months ago she opened a non secured Discover Card with a $3000 limit but gave her 2 increases so now has a $3800.00 limit. 7 months ago she got a non secured Capital One Card. $4200 limit.

 

Her FICO scores average out to 735. No derogs or late payments. She applied for a Chase Freedom Card but was denied because of limited credit.

 

She would like to have 1 more card but doesn't want another denial. What card would you suggest ?  She makes $48,000 per year.

 

Thanks

 

 

Chase: 888-270-2127, 800-527-7419 (App recon)
 

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