Should I apply now or wait until 2013?

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Joined: Sun Oct 14, 2012 10:07 pm
Location: nyc

Should I apply now or wait until 2013?

Postby enochyoo » Wed Oct 17, 2012 12:58 pm

Thanks for viewing. Here is my situation,

I have 2 credit cards under my name, none which have been opened in the last year. I am an authorized user for 2 additional cards, so my credit limit in total is about 22k. I have no delinquencies nor late payments.

Cards under my name
Chase Freedom 4k
Chase Plus One 2k
Discover Student 500 (Canceled about a month ago - I had to get a cosigner to get this card about 2 years ago but they didn't let me "go on own" after good credit history, so I canceled the card to sever direct ties with my cosigner)

Authorized User
Citibank rewards 12k
Discover 4k

I'm not a big spender, heres a rough breakdown how much I spend a month
$100 Groceries
$120 Gas
$200+ Misc

I've been really wanting a American Express card for its benefits and because, well its an amex. I am also a member of the military (E-4), and i realize that I have the opportunity to apply for USAA and Penfed cards..would these cards outweigh the benefits of a Amex BCE?

Thank you

Money card
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Location: New York state

Postby Money card » Sat Oct 20, 2012 12:33 am

the penfed is 5% back on gas not sure if theres another category. But I do know the basic blue cash is 3% at grocery stores like shoprite
king kullen , A&P, traderJoes 2% cash back at gas stations not including costco. 2% at department stores like Dillards, JC Penny , Macys ect.
so you can see this you get 5% back on a Penfed but 7% back on the bluecash basic card. but you have to rember this
the penfed is a Visa where it's accepted all over while the Blue cash you will run into problems if you try and use it at a pizza/italian fast food
restaurants, some bagel places and other places. what you can redeem for the penfed somebody else will have to go over with you , the Blue cash I would imagine there are a lot of nice gift cards that you can redeem for.

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