Advice on new card

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6 posts
ckkiw8
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Advice on new card

Postby ckkiw8 » Wed May 11, 2016 1:07 pm

Hi there,
I have been considering getting a new card lately. I have a few in mind but maybe someone could suggest something that might be better. I have been considering the Discover IT and one of the Delta Skymiles (I don't travel frequently, but around 2-3 times a year and mostly with Delta). You can see what I have in my signature below. Most of you know my Costco AmEx is leaving my for another Citi card and my Citi Forward is losing it's appeal in the next month or so (with it dropping the big bookstore rewards perk). I use my Cash+ for dining and Costco AmEx for fuel, and soon the new Citi for fuel.
Any suggestions would be appreciated!
Amex BCE (25K), Amex Costco (7K), Citi Forward (12K), Chase Disney (15k), Chase Freedom (18K), Chase Sapphire (8K), GE Capital Gap Visa (8K), US Bank Cash+ Visa (13K), Business: Chase Ink (17k), Not Used: BofA Royal Carib Visa (11K), Home Depot Store Card (5K)
Credit Score: 830


Kevin86475391
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Re: Advice on new card

Postby Kevin86475391 » Wed May 11, 2016 2:37 pm

ckkiw8 wrote:Hi there,
I have been considering getting a new card lately. I have a few in mind but maybe someone could suggest something that might be better. I have been considering the Discover IT and one of the Delta Skymiles (I don't travel frequently, but around 2-3 times a year and mostly with Delta). You can see what I have in my signature below. Most of you know my Costco AmEx is leaving my for another Citi card and my Citi Forward is losing it's appeal in the next month or so (with it dropping the big bookstore rewards perk). I use my Cash+ for dining and Costco AmEx for fuel, and soon the new Citi for fuel.
Any suggestions would be appreciated!

What are your biggest spending areas? What do you think you would primarily be using the card for?

I love the Discover It, but some people find it too similar to the Freedom. It's up to you of course whether you would find value in having both (I do personally).

If you're considering a non-travel, cashback card like the Discover It, one thing that seems to stand out to me when looking at the cards in your sig is that you might benefit from a straight rewards, non-category card that you could use for non-bonus spending since you already have several with different category bonuses. Maybe a Citi Double Cash (2%), Freedom Unlimited (1.5%), or Capital One Quicksilver (1.5%). That would get you up higher than the 1% you're earning on the non-category spend on the other cards...on the other hand maybe that wouldn't represent a significant figure for you, or perhaps you'd rather concentrate rewards on a specific card/lender.

On that note, I'm not really qualified to opine on travel cards since I don't play that game at all and don't have any, but at first glance it looks like you're better setup to optimize Chase Ultimate Reward (UR) points than Amex Membership Reward (MR) points. Are you sure you want to go with the Amex Delta instead of one of Chase's airline partners? If you are committed to Delta, then you may in that case want to consider another Amex card that would synergize better with it. Perhaps the Amex Everyday card?

Anyway, best of luck :)

takeshi
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Re: Advice on new card

Postby takeshi » Thu May 12, 2016 9:51 am

+1 Selecting a card isn't just about what you have. It's not about the cards themselves but what specifically suits your needs/wants best. If you want feedback you need to give us your needs/wants for us to use as criteria to narrow down the options. If rewards are a priority then you should focus on your major spend categories (including non-category) and focus on cards that maximize rewards on those categories. Everyone's spend/budget/etc isn't the same so it's not a universal matter. If there are other features/benefits that are important to you or any other considerations then give us that information as well.

You should be doing this sort of analysis for all of the cards that you have applied for. Define your needs/wants first and use that to select cards that suit you. Don't select a card and then try to justify it. Why are you looking for a new card? What purpose will it serve that your current lineup is lacking?

ckkiw8
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Re: Advice on new card

Postby ckkiw8 » Thu May 12, 2016 6:36 pm

I feel like the Citi Forward and the Cash+ are going to be put away with their recent changes. The Citi card that will replace my AmEx Costco True Earnings looks decent so that's a plus. I guess I just want a solid card that is going fill a void I am losing with the Cash+ and Forward. The Freedom is ok when the categories are right, and maybe that's how I will fill about the Discover IT. I think I partially wanted a Discover simply because I don't have one.. :rolleyes: And maybe that's why I want a travel focused card...
Amex BCE (25K), Amex Costco (7K), Citi Forward (12K), Chase Disney (15k), Chase Freedom (18K), Chase Sapphire (8K), GE Capital Gap Visa (8K), US Bank Cash+ Visa (13K), Business: Chase Ink (17k), Not Used: BofA Royal Carib Visa (11K), Home Depot Store Card (5K)
Credit Score: 830

kdm31091
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Re: Advice on new card

Postby kdm31091 » Sat May 14, 2016 8:26 am

I agree there is really very little appeal to the Forward with the changes/nerfs. It is basically becoming a Thankyou Preferred, which also seems like a pointless card since you can get 1.5% or 2% cash back on every purchase elsewhere -- not just 2 points per dollar on a couple categories (and the points don't cash out well).

You could look into a general spending 2% or 1.5% card as noted above. Some people don't think a dedicated "everything else" card is necessary and would rather concentrate spending on fewer cards. That's your call. With cash back, it's easy enough to run the numbers for the spend and see what you stand to gain by adding something else (and the number is often less impressive than you might think).

MemberSince99
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Re: Advice on new card

Postby MemberSince99 » Fri May 20, 2016 1:29 pm

takeshi wrote:+1 Selecting a card isn't just about what you have. It's not about the cards themselves but what specifically suits your needs/wants best. If you want feedback you need to give us your needs/wants for us to use as criteria to narrow down the options. If rewards are a priority then you should focus on your major spend categories (including non-category) and focus on cards that maximize rewards on those categories. Everyone's spend/budget/etc isn't the same so it's not a universal matter. If there are other features/benefits that are important to you or any other considerations then give us that information as well.

You should be doing this sort of analysis for all of the cards that you have applied for. Define your needs/wants first and use that to select cards that suit you. Don't select a card and then try to justify it. Why are you looking for a new card? What purpose will it serve that your current lineup is lacking?


Not to be a nit picker and all due respect but he might also wish to take into consideration his credit profile when applying to ensure the best odds of success.



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