time for a new card and not sure what to get...

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tiger100
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time for a new card and not sure what to get...

Postby tiger100 » Tue Mar 01, 2016 6:03 pm

have CSP w/$24000, disc IT w/20000, amex blue w/$8000
credit is 780 on myfico
dont think i have any hardpulls within past couple years (amex is right around 2 years old so may still be on there)


main thing is a new card that i can get a decent limit right off the back with. of course im all about cash back and points as i funnel all my company purchases through my cards to reap the rewards.

this citi double cash...i basically get 1 to 1 on all purchases, then when i make the payment i get 1 to 1 on the payment as well?

but not sure if there is a better card out there for my particular position. thanks in advance for the help


takeshi
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Re: time for a new card and not sure what to get...

Postby takeshi » Wed Mar 02, 2016 11:37 am

tiger100 wrote:credit is 780 on myfico

You don't have just one score with myFICO. Give us FICO 8's for each of the 3 major CRA's.

tiger100 wrote:main thing is a new card that i can get a decent limit right off the back with.

First off, "decent" is subjective. Give us a number and don't just assume that everyone's notion of "decent" is the same.

Second, we can't tell you what limit you'd qualify for with any creditor/product. We are not underwriters and we do not know the details of the underwriting criteria for the various creditors and products out there. The score you posted and your limits look good so you'd likely get a fairly high limit with any creditor though, again, we can't guarantee that.

tiger100 wrote:of course im all about cash back and points as i funnel all my company purchases through my cards to reap the rewards.

Are you looking to stick with UR for points?

if you want recommendations on rewards then give us an idea of your spend categories and volumes. You want to make the most of where the majority of your spend is going. What do you specifically want from a new card? What's lacking with your current cards?

tiger100 wrote:this citi double cash...i basically get 1 to 1 on all purchases, then when i make the payment i get 1 to 1 on the payment as well?

Not sure what you mean by "1 to 1". It's 1% on spend and 1% on payments.

tiger100 wrote:but not sure if there is a better card out there for my particular position. thanks in advance for the help

You'd need to clarify what "better' means by giving us enough criteria to narrow down the options. It's not just about the cards themselves. It's about what suits you best. Do you have a lot of noncategory spend that would benefit from a card like the Double Cash?

How much value are you able to get per UR point? If you can't get 2 cents per point which would equal or better the Double Cash (depending on earn rate on the UR card) then why are you using UR? You may want to find a different rewards program where you can better leverage the redemption options for the given program so you can get better rewards value.

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Vattené
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Re: time for a new card and not sure what to get...

Postby Vattené » Wed Mar 02, 2016 2:56 pm

If you like UR and are getting good value from the system, you might consider adding a Freedom. The 5% category spending will help you earn more UR.

If not, a Double Cash will get you the best return out of cash back cards excluding any introductory bonus considerations, but points systems (like an MR-earning card from Amex) can be more lucrative. The catch is they are also more complicated, and the value one can get from them depends on the individual's spending and travel preferences. As mentioned, there are a ton of variables at play, many of which come down to subjective preferences.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

tiger100
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Re: time for a new card and not sure what to get...

Postby tiger100 » Wed Mar 02, 2016 3:57 pm

myfico gives me one score every month...normally in 800's. currently at 780 due to a huge amount in purchases between the csp and it couple months ago. my big repayment on the cards happened after they reported the balance increases. obviously next month will shoot back up now balances showed paid off. moral of the story is "i have really good credit" and want a card that will reward me for that

decent to me as a starting balance would be $10000+ but if its $5000+ and they are known to give good CLI's after proving you're a good customer then that would have to suffice. I have no idea what cards throw good starting CL's out there to excellent credit customers with good salaries

not a big traveler but constantly buy all kinds of different stuff. but mostly its electronics, computer, camera, and other still and video related equipment.

thats why i was thinking the citi "double" card would be nice to just get double points nonstop on purchases through it. but if they are tight with starting CL i'd like to get something else probably.

looked at the freedom but isnt it about to become a different "ultimate" card?

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Vattené
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Re: time for a new card and not sure what to get...

Postby Vattené » Wed Mar 02, 2016 4:35 pm

Rumor has it that Chase is coming out with a version of Freedom that will offer 1.5% on everything instead of 1% with rotating 5% categories. I don't know if it will be UR like the Freedom that could be transferred to partners with a CSP pairing or it if it strictly cash back. AFAIK Chase hasn't directly released anything about it yet, but I could be wrong.

I also don't know what Citi's reputation is for starting limits or CLIs, but it sounds like with your profile (and assuming no lates/derogs/baddies) approval shouldn't be an issue.

Do you currently not use the UR with your CSP to transfer to partners (like for airline miles)? If not it may be time to rethink paying that AF. If you don't travel much a cash back card may be your best bet. It's not as sexy as a travel card with perks, but it will provide a solid value and you'll know what you will get out of it. You can't beat the Citi Double Cash as far as a rewards return rate, but it has no introductory bonus. Something like Capital One's Quicksilver or Discover's It Miles (billed as a travel card, but really just a cash back card) offer 1.5% instead of 2% but have bonuses that may make them more appealing to you. I hear Capital One's rewards post as soon as transactions post, meaning you don't have to wait as long to redeem rewards if that is important to you. With Discover there is no minimum amount of rewards needed to redeem (with Citi the minimum is $25). Bottom line is the Citi Double Cash is a good card and the value can't be beaten if cash back is best for you, but there are other considerations that could make something else more attractive to you.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

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CarefulBuilder14
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Re: time for a new card and not sure what to get...

Postby CarefulBuilder14 » Thu Mar 03, 2016 12:03 pm

You might be able to PC Blue to an ED without creating a new account to earn better rewards.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Kevin86475391
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Re: time for a new card and not sure what to get...

Postby Kevin86475391 » Thu Mar 03, 2016 12:47 pm

Excellent advice all around.

To me it sounds like the DC is a very good option for you. Starting limits can be small with Citi, but not always, and CLIs are always an option. My limit on the DC is over your 10K threshold. Offhand I can't recall what my SL was, but I only had to ask once to get a nice bump.

tiger100
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Re: time for a new card and not sure what to get...

Postby tiger100 » Thu Mar 03, 2016 2:56 pm

thx much for the replies :)

sounds like the citi double may be the way to go. here's hoping to a nice SL!

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Vattené
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Re: time for a new card and not sure what to get...

Postby Vattené » Thu Mar 03, 2016 3:27 pm

Good luck!
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

tiger100
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Posts: 15
Joined: Mon Jan 30, 2012 1:21 pm
Location: united states

Re: time for a new card and not sure what to get...

Postby tiger100 » Thu Mar 03, 2016 4:30 pm

online instant approval for the citi double card with $10000 SL. how ironic thats what i kinda was hoping for to start with lol.

give it a few months and call for a CLI or should i call when i get the card in and activate the account?



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