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Soft schmoft; apply for a secured card from BofA.

 

Also 650 isn't the crappiest of credit scores; you could possibly get in with CapitalOne, or better yet the new Slate Edge card from Chase is meant for starters and rebuilders.

 

It is better to be in with BOA or Chase than with CapitalOne.

 

And it is better to be in with CapitalOne than with the rest of the turdsmiths who actively market to folks with low-to-mediocre scores.

Edited by Sidewinder
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4 hours ago, A Credit Ed said:

I'm curious - I have seen this sentiment here on CB often, but what are the advantages of BOA & Chase over Cap1?

Better banks...fewer subprime offerings that stain reports for up to a decade.

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11 hours ago, A Credit Ed said:

I'm curious - I have seen this sentiment here on CB often, but what are the advantages of BOA & Chase over Cap1?

Also, more generous credit limits over time, which is much better for your scores.

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11 hours ago, A Credit Ed said:

I'm curious - I have seen this sentiment here on CB often, but what are the advantages of BOA & Chase over Cap1?

 

Name a Cap 1 credit card that you believe has among the best benefits to be found and I have no doubt that someone here will name at least one card from each of BA and Chase that are far superior when used actively.

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12 hours ago, hdporter said:

 

Name a Cap 1 credit card that you believe has among the best benefits to be found and I have no doubt that someone here will name at least one card from each of BA and Chase that are far superior when used actively.

I'm really interested to hear more about this. Is there a list of best banks/cards to consider at various credit scores? What about companies like Citi, AmEx, Wells Fargo, Citizens, etc. I'm curious about things like credit limit increases over time, cash benefits, etc. Thanks for sharing more about this. Been reading what I can through these posts.

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"Best" is a subjective term, as everyone's situations, spending patterns, and aims are unique.  Some of us are just starting out, some are rebuilding, some are preparing for a mortgage.  Some of us are a'ight and just want to get the most out of rewards programs, or get the best APR's.  Tell the forum more about yourself before asking us what your best moves would be.

 

There are, however, some universal truths:

 

1) Best habits for good scores are on-time payments and low util

 

2) Avoid, at all times and with no exceptions, opening an account with First Premier or CreditOne

 

3) Sites like nerdwallet and wallethub can be good sources of information and bad sources of opinions

 

4) It is wiser to buy into an oceanfront timeshare in western Nebraska than it is to give heed to the myFICO forums. 

 

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On 7/20/2021 at 10:03 PM, roundaboutrain said:

I'm really interested to hear more about this. Is there a list of best banks/cards to consider at various credit scores? What about companies like Citi, AmEx, Wells Fargo, Citizens, etc. I'm curious about things like credit limit increases over time, cash benefits, etc. Thanks for sharing more about this. Been reading what I can through these posts.

 

This is a really broad topic.

 

Once you have prime credit, you can get whatever you want.

 

Below that, the selection process gets a lot more surgical.

 

The process of choosing a card starts with looking at where your spending is concentrated (travel?  groceries?  restaurants?) and then targeting cards that excel at rewards for those categories.

 

And it's also a good idea to have a "general spending" card that covers your other purchases at a flat 2% back (or higher, if possible).

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Credit cards, like any product in a financial relationship, should progress and provide more benefits as you become a better financially. cv91915 is RIGHT. Once you are out the dumps of the starter cards, you SHOULD have some benefits.

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