nycplayboy78 wrote:Reading the forums folks say get a Discover card so which one should I apply for?
Don't just apply because people suggest a given card unless they've carefully considered your requirements. You need to determine the cards that suit you.
Really, you should start with your major spend categories and make sure that you're maximizing rewards on those categories. Worrying over X% of insignificant spend isn't going to be very productive.
As for the Discover it, while the cash back calendar can change from year to year you can look at the current calendar for an idea of what you might be able to expect as far as categories. Are those categories relevant to you? Considering the quarterly spend cap, how much in rewards do you think you'd get?
If you're properly leveraging UR point redemption to maximize point value then you may want to look at the Freedom if you're interest in a quarterly rotator since it also accrues UR points that can be combined with your CSP and transferred.
That said, there's not enough in your posts to really recommend any specific card. Tell us where your spend is going, give us an idea of the volume of spend for each major category (including noncategory if it is significant) and we can suggest cards to maximize rewards on that spend.
nycplayboy78 wrote:My daily drivers are my AMEX BCE and Chase Sapphire Preferred as well as my USAA Debit MC
Why these cards? Why the debit card?
nycplayboy78 wrote:I will ask Chase and AMEX for CLI on my accounts as that would be 6 months since opening those two accounts and PIF every month.
Good luck with Chase. For AmEx, Google and read the 3x CLI Guide.
nycplayboy78 wrote:KMD thank you so much for that I was ALWAYS taught that closing accounts in good standing would utterly DESTROY your credit file/history....
You always have to consider your sources, validate, corroborate, etc. Impact isn't fixed with credit. It depends on one's credit profile and the details regarding the change.
kdm31091 wrote:AAOA (average age of accounts), which only accounts for 15% of your score anyway
For the OP. Note the typical relative weights of the factors.
http://www.myfico.com/crediteducation/w ... score.aspx
kdm31091 wrote:Some sites like creditkarma will lower their version of your AAOA
It's not even a version of AAoA. CK provides AAoOA, not AAoA. FICO models consider AAoA, not AAoOA.
kdm31091 wrote:The only time closing accounts is going to hurt you in any significant way is if you are carrying balances and closing the accounts would significantly increase your utilization.
One does not have to carry in order to have reported balances. If reported utilization significantly increases there can be a negative impact. Once can easily do the math to see the impact to revolving utilization. It's just balance(s) / limit(s).
Vermonster wrote:Your closed accounts will stay on your report for 10 years, they just won't be increasing in age like current accounts.
Closed accounts do age.