Looking for Advice on My Next Card App

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samhradh
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Looking for Advice on My Next Card App

Postby samhradh » Fri Dec 13, 2013 11:22 pm

Beware, this is a long one! Today I confirmed with another mechanic that my car needs about $3K in repairs. $1K of which is a must with the remaining $2K to fix problems that affect drive quality. Alternative scenario is I buy a new, used car for under $10K (this will happen only if I am offered a low APR). Either way, it seems early 2014 may be a good time to apply for my first credit card with an annual fee to take advantage of a sign-up bonus.

Given my current card wallet, I have three ideas:
  1. Citi ThankYou Preferred: I have the Forward's older rewards program of 5/3/1TY pts. As I understand it, the Forward's redemption rate is not as good as the Preferred/Premier/Prestige cards. If I get the Preferred I can make better use of my 70K+ existing TY points. Am I correct about the Preferred having a better travel redemption rate or is it only the Premier? I don't see this card being useful for purchases beyond the car repairs.
  2. Chase Sapphire Preferred: coupled with my Freedom I might actually be able to justify keeping the CSP after the first year. Because I have the Citi Forward, though, this is another card I don't see being useful for everyday spending. With respect to travel expenses this card is probably the most useful for me as I believe Amtrak and public transportation qualifies. I just realized it doesn't offer a 0% APR...so I would have to give away some of my savings to get this card.
  3. Premier Miles & More World MasterCard (Lufthansa): this would be my first Barclay and first travel specific card. I would love a cheap trip to Europe in May of 2014 for my birthday. My mother's birthday is the same month so the companion ticket is an attractive perk. Meeting the $5K spend would be a stretch for me but the 0% intro APR means it's possible. I view the value of the sign-up bonus and companion ticket as more than justifying its annual fee. However, yet again, I don't see this being used frequently.

Consider:
  1. Need a 0% into APR for at least six months, preferably a year
  2. Would like minimum spend to have to be achieved over three months or more
  3. Only want to apply if I have a strong likelihood for approval. I will list income as $40K and I am employed part-time. Most recent credit hit was for the Discover it in Nov 2013. Prior to that I applied for the Freedom in July 2013 and requested CLI on my BCE and Forward in June 2013. Both of my VISA cards are Signature if it matters. Have never missed a payment and always PIF unless 0% APR allows otherwise. Been paying a student loan off as scheduled.

Would love other's ideas as to how to proceed so I can make the car bills easier to swallow. Feel free to propose something I haven't brought up.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).


daniel2304
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Postby daniel2304 » Sat Dec 14, 2013 12:11 am

http://creditcardforum.com/content/best-cash-back-credit-cards-4/

Why don't you consider this link? In your situation, I'd like a Barclay Arrival
All my posts are my opinions. All my posts mentioned "you" are merely for discussion-purpose only. No advice is given in any post at any time. It is also impossible for me to put effort to verify every statement that anyone has given.

samhradh
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Postby samhradh » Sat Dec 14, 2013 6:50 am

daniel2304 wrote:http://creditcardforum.com/content/best-cash-back-credit-cards-4/

Why don't you consider this link? In your situation, I'd like a Barclay Arrival


Thanks. I already have three CB cards. Also the sign-up bonuses on the CB cards you linked to, that I don't already have, are not that amazing. I did consider the Arrival but these days $440 isn't much when redeemed for travel. I could maybe get one domestic flight out of that amount, given the places I'd want to fly to.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

MemberSince99
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Postby MemberSince99 » Sat Dec 14, 2013 7:52 am

Why not apply for 1 and 3. Use 1 for your balance transfer/car repairs and 3 for your travel assuming you get them.



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