Looking for a secondary card.

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Recent
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Looking for a secondary card.

Postby Recent » Tue Jul 29, 2014 8:23 pm

Hello guys,

I've had a credit card[wells fargo] for 3 years but only started using it 1 year ago. I've paid all of my balances (though I used a lot of money on it, but I have never reached the limit--$1000) each month on time, so it should report has 0% utilization, correct?

I am looking for a second card as I am in my 3rd year in college. I will be done soon and I would like to start investing a bit more into my future. I was hoping to get an AmEx card but I am not sure if I would be approved for it.

Also, as for AmEx card, am I able to upgrade my card in the future? If so, can I get any card I want from AmEx and then ask for an upgrade into whatever I want or do certain cards only upgrade to certain cards?

Also, I see that AmEx cards have annuals fee and of course not every place accepts AmEx cards. I would like to apply for a 3rd card, one that is accepted everywhere.

My current credit card[wells fargo], I plan on never using it again but to pay my phone bill for the phone insurance. My 2 other cards, an Amex(or other card), I would like to use to accumulate maximum points to travel in the future. I do not know what is better, one that offers air miles or hotels. And of course, since I am not using my wells fargo card anymore I would like my 3rd one to be my most convenient one.

If you guys have any better advice, please share them to me. Maybe I should get 4 credit cards? [still not using the wells fargo one].


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PlyrStar93
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Postby PlyrStar93 » Tue Jul 29, 2014 9:31 pm

Recent wrote:I've paid all of my balances (though I used a lot of money on it, but I have never reached the limit--$1000) each month on time, so it should report has 0% utilization, correct?

Reported balance is a snapshot of your account each month, generally statement balance, so even if you pay in full it still reports the statement balance (or the day it gets snapshot).

They will report how much you owed and how much you paid, normally on a monthly basis, which means if you pay down the balance then credit report may not reflect that immediately.

Recent wrote:Also, I see that AmEx cards have annuals fee and of course not every place accepts AmEx cards. I would like to apply for a 3rd card, one that is accepted everywhere.

The Blue Cash Everyday, Blue Sky, Everyday card do not have annual fee.

Technically it is impossible to find a card that is accepted everywhere as Costco only takes AMEX when talking about credit cards (other debit cards are still accepted) while AMEX is not accepted everywhere. Even the DMV in my place do not accept Visa cards. The best you can do to widen acceptance is to keep cards with different networks.

Recent wrote:I would like to use to accumulate maximum points to travel in the future. I do not know what is better, one that offers air miles or hotels.

For your info, Chase Sapphire Preferred can transfer points to airline and hotel programs; AMEX's Membership Rewards cards also have this feature.

If you have a specific loyalty program then you can also consider a card related specifically to that (like the Marriott, Hyatt, British Airways, United Mileage cards and so on).
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015
All EMV.

Recent
Green Member
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Posts: 6
Joined: Mon Sep 02, 2013 10:29 pm
Location: Kennesaw

Postby Recent » Tue Jul 29, 2014 10:03 pm

Where can I find the ratio of points to $ for travel on AmEx / Chase / etc?



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