Tuesday, January 24, 2023

What Credit Card I Qualify For

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Capital One Quicksilverone Cash Rewards Credit Card

  • Earn unlimited 1.5% cash back on every purchase, every day
  • Earn cash rewards without signing up for rotating categories
  • Be automatically considered for a higher credit line in as little as 6 months
  • Monitor your credit profile with the CreditWise® app, free for everyone
  • $0 fraud liability if your card is ever lost or stolen
  • No limit to how much cash back you can earn, and cash back doesn’t expire for the life of the account
  • Help strengthen your credit for the future with responsible card use
  • Get customized alerts and manage your account with the Capital One mobile app

Best For Marriott Rewards: Marriott Bonvoy Bold Credit Card

  • Best features: If you stay often with the worlds largest hotel network, you may want to check in with this card. This no-annual-fee card not only gives consumers a chance to redeem points for a variety of hotel rewards, it provides a fast track to Marriott Silver Elite status. Plus, points can be combined with cash to pay for hotel stays. So you wont have to worry about meeting a minimum before redeeming.
  • Biggest drawbacks: The rewards offered by the card arent as valuable as some other travel card options. You might also run into some booking problems if youre looking to book stays during busy times of the year.
  • Alternative: If you frequent other hotels outside of Marriott, a general travel rewards card like the Discover it® Miles could be a better fit.
  • Bottom line: If you tend to stay with Marriott, this could add a lot of value to your travels. Theres no annual fee and a slew of hotel perks.

Read our or jump back to this cards offer details.

What Programs Does American Express Offer

Many American Express credit cards feature competitive base rewards programs and lucrative welcome offers. They also offer a number of valuable benefits that can prove useful when shopping or traveling. These benefits, which are not exclusive to Amexs premium products, can include:

American Express also offers several flexible payment options on certain personal and business cards. These options can include:

  • Pay It, Plan It®: This feature, available on select personal cards, allows eligible cardholders to pay small purchase amounts right away through the American Express app. Alternatively, it lets them split up larger purchases into monthly payments with a fixed fee. Learn if Amexs Pay It Plan It is worth it.
  • Pay Over Time: This feature, available on select personal and business cards, lets eligible cardholders carry a balance on eligible purchases, with interest.
  • Working Capital Terms: This feature allows eligible business cardholders to get access to up to $150,000 in funding.
  • Expanded Buying Power: This feature allows eligible business cardholders to spend over your credit limit .

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Capital One Platinum Credit Card

  • Pay no annual fee
  • Be automatically considered for a higher credit line in as little as 6 months
  • Fraud coverage if your card is lost or stolen
  • Use online banking to access your account, even from your smartphone, with our mobile app
  • Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you’re all set
  • Pay by check, online or at a local branch, all with no fee – and pick the monthly due date that works best for you
  • Get access to your account 24 hours a day, 7 days a week
  • Help build your credit through responsible use of a card like this
  • Be automatically considered for a higher credit line in as little as 6 months
  • Fraud coverage if your card is lost or stolen
  • Use online banking to access your account, even from your smartphone, with our mobile app
  • Check out quickly and securely with a contactless card, without touching a terminal or handing your card to a cashier. Just hover your card over a contactless reader, wait for the confirmation, and you’re all set
  • Pay by check, online or at a local branch, all with no fee – and pick the monthly due date that works best for you
  • Get access to your account 24 hours a day, 7 days a week
  • Help build your credit through responsible use of a card like this

How Do You Choose A Credit Card

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If youre on the hunt for a card thats easy to get, chances are you are dealing with some credit issues that make approval questionable with most prime issuers. As such, choosing a card may come down more to whats available than what you really want out of your card.

That being said, even in the limited- and bad-credit card markets, youll likely have some options. Here are a few things to investigate when comparing credit cards:

  • Application/Processing Fees: Some cards, especially cards from subprime issuers, may charge a fee simply to apply for the card or to open the account.
  • Annual Fees: Some cards can be worth the annual fee, but others wont be do the math before you apply.
  • Maintenance Fees: Many subprime cards will charge monthly maintenance fees on top of the annual fee.
  • Grace Period: Most cards should provide a grace period on interest for new purchases of at least 21 days check the terms and conditions to be sure.
  • Interest Rates: If you ever carry a balance, you should know what itll cost you. Check the new purchase, balance transfer, cash advance, and penalty APRs before applying.
  • Purchase Rewards: Even consumers with bad credit can find cards with purchase rewards, but make sure the rewards are worth any annual fees.
  • Cardholder Benefits: Most credit cards come with additional cardholder benefits that can include things like extended warranty coverage and purchase protection.

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Know What You’re Looking For

Everyone has different needs when it comes to credit cards. For frequent travellers, a credit card with a travel points system can help them save money on flights and accommodations. For those who use their card for everyday items like gas and groceries, a category-specific cash back card with a great earn rate can make their lives much easier.

Think about your spending habits and what you ultimately want this card to do for you. It may even help to make a short list of your must-haves all the way down to the “would be nice, but not essential” type of features. This will help you choose a card that’s right for you.

Before Applying For A Credit Card Know The Credit Score Ranges

When youre applying for a credit card, companies take several factors into account, including:

  • Your credit scores
  • Monthly rent or mortgage payment

Of those three, your credit score carries the most weight in credit card approval decisions.

One way to evaluate your odds of being approved is by checking your credit scores in advance. FICO credit scores, which are the scores used by 90% of top lenders, range from 300 to 850.

Mike Pearson, credit expert and founder of the credit repair site Credit Takeoff, explains how the score ranges affect your approval odds. If you have a credit score of 750 and above, youll have your choice of nearly any credit card on the market, including prime cards, which feature premium rewards and perks, Pearson says. Your credit score isnt the only thing that goes into getting approved for a card like thatand you could still get rejected on the basis of a too-high or a recent late paymentbut if you have an excellent credit score, you stand the best chance of getting approved for most prime cards.

The average FICO score was 716 as of August 2021, according to an annual update published by FICO. That is eight points higher than a year earlier, an improvement that the company attributed to accommodations by lenders to those affected by the COVID-19 pandemic.

Your credit score determines the rate of interest you’ll pay. If your score is low, you’ll pay a higher interest rate.

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Improve Your Credit Score

If your FICO report could use a boost, there are steps you can take to help improve your credit score. First, make sure you check your credit report to ensure there arent any mistakes. You can check your score once per year for free through AnnualCreditReport.com . The next move is to make sure you make your monthly payments on time, every time. Your payment history is the biggest contributing factor to your score, accounting for 35% of how its calculated.

Other important steps to help your score include aiming to keep your credit utilization as low as possible, which means keeping your balance on any card low relative to the amount of your credit limit on that card. For example, if you have a card with a $10,000 credit limit, and you make a $2,000 charge, thats using 20% of your available credit. You may also want to consider using tools like Experian Boost or Amexs Score Goals.

Apply For Your New Credit Card

“What Credit Cards Should I Apply For?” And When to Apply for Them

When you’ve found the perfect card for you, it’s time to apply! You can easily do this online by following the instructions provided on your financial institution’s website. Typically, you should find out if youâve been approved in 5-7 days, although in some cases it may take up to 30. If youâve applied online, instant-approval cards will tell you immediately if youâve been approved, but youâll still have to wait 5-7 days for your card to arrive.

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Capital One Low Rate Gold Mastercard

The Capital One Low Rate Gold Mastercard is a solid choice for people with a low credit score. For a fee of $79 per year, cardholders get an eyebrow-raising competitive interest rate of 14.9%, and access to perks including price protection, travel benefits and insurance.

If you dont qualify for the unsecured Capital One Low Rate Gold, Capital One will still approve you for its alternative secured product, the Capital One Guaranteed Secured Mastercard. This makes for a good fail-safe, and helps people access a credit card with a security deposit as low as $75 and a $59 annual fee.

  • Annual Fee: $79
  • Interest rate: 14.9% on purchases and balance transfer 19.8% on cash advances
  • Personal income required: $0
  • Other perks: Price protection common carrier travel accident insurance baggage and rental vehicle insurance

Blue Cash Everyday Card From American Express: Best For Tiered Cash Back

Why we picked it: The Blue Cash Everyday is the mini-me of the Blue Cash Preferred, with excellent cash back on groceries and when filling up your car, but with no annual fee. Earn 3% back at U.S. supermarkets on up to $6,000 a year , and earn 2% back at U.S. gas stations, perfect for the growing family.

Pros: Through the current welcome offer, cardholders can earn a $200 statement credit after they spend $2,000 in purchases within the first six months of card membership.

Cons: Depending on how much you spend, the Blue Cash Preferred might offer more bang for your buck, despite the $95 annual fee. For more information, take a look at when a credit card with an annual fee is worth it.

Who should apply? Large families stand to do very well in these featured rewards categories. Plus, the 0% intro APR on purchases for the first 15 months is attractive to those who want to make a large purchase and carry the balance for a bit.

Read our Blue Cash Everyday Card from American Express review or jump back to this cards offer details.

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Best Credit Cards Of December 2021

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list ofour partnersandhere’s how we make money.

How Can I Get Closer To The Credit Score Needed For A Discover Card

How to apply for credit card online? What are the requirements?

If you have limited credit history, applying for a new credit card could improve your credit utilization ratio. This especially applies to college students, and recent alums who want to build a credit history at a young age. If youve shown that you can use a credit card responsibly as an authorized user on someone elses account or with a secured credit card now may be the perfect time to apply for a new one.

If youre in the market for a new credit card, waiting about six months between credit applications may impact your odds at approval. If credit card issuers find that there have been multiple requests for your credit report in a short period of time, they may assume youre not managing credit responsibly. On that note, its always wise to pay off your current credit cards before shopping for a new one.

While pre-qualification doesnt impact your credit score because the creditor will place a soft inquiry on your credit report, a hard inquiry can hurt your score. Before you submit your application, you should make sure you want the credit card and feel confident that youll qualify.

FICO is a registered trademark of the Fair Isaac Corporation in the United States and other countries.

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Citi Secured Mastercard: Best Credit

Why we picked it: Your security deposit is refundable if you upgrade to an unsecured card within the first 18 months.

Pros: Theres no annual fee and you can choose your credit limit based on what you can afford to provide as a security deposit. You can put down as little as $200 to start and earn your deposit back by demonstrating the right habits.

Cons: This card offers no rewards. If thats important to you, there are secured cards that do offer rewards programs.

Who should apply? For someone rebuilding their credit, this card charges no annual fee and offers the opportunity to graduate to an unsecured card after 18 months of responsible use.

Read our Citi® Secured Mastercard® review.

Where Is Chase Accepted

Whether you are traveling domestically or abroad, you can shop with confidence knowing that your Chase credit card is on the Visa or Mastercard network, which means you can use the card at millions of merchants both nationwide and internationally. These networks offer broader global acceptance than American Express and Discover, and your card may come with an EMV chip that offers payment security while overseas. Plus, some Chase cards will not charge foreign transaction fees.

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Discover It Secured Credit Card: Best Credit Card For People With No Credit

Why we picked it: While negative items like a pending bankruptcy may decrease your approval odds for this card, having no credit history will not. Cardholders get 2% cash back at gas stations and at restaurants .

Pros: The credit limit ranges from $200 to $2,500 depending on what youre comfortable putting down. Accounts are reviewed to see if you can transition to an unsecured line of credit starting at seven months, and Discovers first year Cashback Match is another added bonus.

Cons: The APR is high, at 22.99% variable, so carrying a balance is going to cost you more than the average card.

Who should apply? With its valuable rewards and high credit line , plus the opportunity to transition to an unsecured line of credit and return your deposit, this is one of the better secured cards for someone rebuilding their credit.

Read our Discover it® Secured Credit Card review.

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Services Offered By American Express

  • . Amex is perhaps best known for its luxury rewards credit cards, which offer premium benefits in exchange for a sometimes sizable annual fee. However, it does offer a few of the best cash back credit cards for everyday spending. With exclusive partnerships with Hilton and Delta, Amex also offers cards that reward mightily for loyalty.
  • Business cards. With a full suite of cards that cater to the business owner, Amex offers products that reward handsomely for business purchases.
  • Savings accounts. While not well known for this offering, Amexs savings accounts are worth a look with interest rates well above competitors.
  • Personal loans. For the qualifying member, you can get a personal loan with well under 10% APR.

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