Is it Easier to get a basic credit card versus a rewards card?

Question

I have a chapter 7 discharged 7 years ago. I don't want to be filling out offers for credit cards that are hopeless, I also think our credit is better than rock bottom as we have a car pmt thru the credit union and have refinanced our home twice in the past 7 years. We have not been late on a house payment in at the very least 10 years. And never on our car payment.

Answer 1

If you're looking for a card with cash back benefits, the Discover Platinum Card may be a perfect fit. This card offers a 5% rebate for items purchased at participating locations, including restaurants, gas stations and clothing stores. You can also earn up to 1% cash back on general purchases.

Besides the cash back rewards, the Discover Platinum Card offers a 0% APR on purchases and balance transfers for the first year. If you have a sizable balance on your current card, transferring it to the Discover Platinum Card could be a smart move. You'll be able to pay off the balance over a few months and stay interest free. You'll also get to choose from over 150 card designs and will not have to pay an annual fee. Read more about credit card at: http://www.credit-card-gallery.com/article/161,Discover_Credit_Cards_Online_Offers_Reviewed

Answer 2

It really depends on the company. Most are run by the bigger banks that have higher standards. In most cases if you could get a Standard Card with them you could get a Rewards Card as the credit requirements are generally the close to the same or are the same.

As for the "Rewards" you need to read the requirements and conditions very closely. These cards will usually have an annual fee associated with them and you need to see if the fee(s) you pay are equal to or greater than the rewards you would get in return.

If you want you can check your credit score, myfico.com gives you the actual FICO score from all 3 agencies and costs about $45. The national Average is about 670 and anything above 700 is considered very good. Also, while I would not apply for a ton of cards if you find a card you like apply for it. One inquiry is not going to change your score dramatically.

Answer 3

Much depends on whether you currently have any credit cards or if all you have is loans on your credit reports.

If you have no revolving accounts at all, it may be difficult to get either type of card with prime companies.

If you have no revolving credit, you might start by going to your bank or credit union and see what they offer (they often have rewards cards also)

If you have to, start with a secured card and also a store and/or a gas card. Most store cards are generally more lenient in their approvals than major credit cards.

I prefer to have the rewards cards myself. Many of those cards come with yearly fees, but there are also some decent ones that are fee free.