Help Finalizing Choice

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jfLip
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Help Finalizing Choice

Postby jfLip » Wed Mar 06, 2013 8:29 pm

Hey guys,

Lurker coming out of the shadows. I'm looking to apply for a credit card and became overwhelmed with the choices and was wondering if ya'll could generously help out.

I have an excellent credit score (thank you Mom & Dad for getting me off on the right foot). My primary spending: dining/bars. Secondary spending: Walmart, department stores, and online (eBay, Amazon, Bodybuilding.com).

I don't know if I should get an overall good card, or one that's specifically for dining. The cards I'm considering:

  • Capital One Cash Rewards - 1.5% cash back on everything (1% + 50% annual bonus) Good overall?
  • Chase Sapphire/CSP - Looks like many suggest this for dining, but not a fan of the $95 annual fee
  • AmEx TrueEarnings - 2% on restaurants, no annual fee, but I'd need to purchase a Costco membership ($55)
  • Discover It - Looks great for online shopping, but I'm also trying to cut back on my spending

Guidance would be much appreciated!


s.jessica
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Postby s.jessica » Thu Mar 07, 2013 7:39 pm

Discover IT has decent rewards and no AF. Capital One will likely save you money because everyone I know who has one tosses their card in the sock drawer.

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Snowman
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Postby Snowman » Thu Mar 07, 2013 8:00 pm

It's great that you have excellent credit! but many of these lenders also look at income as well. The Capital One Cash Rewards card is something I would use for those random purchases. The CS or CSP is more of a card if you do travel quite a bit (most travel cards have an annual fee.) And dine out often, that is what the card is mean for. As for the Amex True earnings, idk much about it, but Amex looks at income and the higher the better (they are a very spend centric company.) Discover it, idk much about it either, but I do have a more card and I use it only for category spending, other then that It is Sd'd.
Cards And Credit History
Bank Of America: BankAmeriCard Cash Rewards-4/25/12-1,000$ (CLI Increase on 6/15/13)
Citi: Forward-10/27/12-3,000$ (SP CLI 2/8/14)
Discover: More. 10/27/12-2,000 (Auto CLI 5/31/14)
Amex: PRG.- 11/24/12 (Closed 12/13/13) Amex BCE.2k-12/7/13. Amex SPG-4k.-12/8/13
Chase: Freedom-2,400-5/1/13. Southwest Rapid Rewards Plus- 3,600- 6/15/13.
Future Cards
Marriott Premier Rewards
American Airlines AAdvantage Gold
Chase Sapphire Preferred
Fidelity Amex


DavidNY
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Postby DavidNY » Thu Mar 07, 2013 10:05 pm

If you're looking for cash back, I'd suggest the Priceline Visa, a flat 2% cash back card with no annual fee.

Visa has greater acceptance than Amex or Discover.

Check out this site for additional cash back on bodybuilding.com:
http://www.cashbackholic.com/compare.php?s=www.bodybuilding.com

jfLip
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Postby jfLip » Fri Mar 08, 2013 10:59 am

Thanks for the responses! I really don't spend too much, and when I do it's typically just dining, clothing stores, and misc. stuff online. Don't do any traveling and don't see rotating 5% categories benefitting me too much, so I'm leaning towards Captial One and Priceline for overall use. Kind of leaning towards Capital One since it seems very straightforward vs. Priceline's 2x point system, though it doesn't seem too bad to apply earned points. Seems as if Priceline/Barclays has more mixed reviews though...

Daniel
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Postby Daniel » Fri Mar 08, 2013 7:37 pm

Why not consider the Blue Cash Everyday? 3% on stand alone grocery stores, 2% on gas and something else, and 1% otherwise. No annual fee either.

My opinion is slightly biased though because I personally have this card. Anyone else have a decent suggestion?

@ OP, snowman brings up a good point that income is an important variable to your application, and your overall debt to income.

lexrj
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Postby lexrj » Fri Mar 08, 2013 10:02 pm

BCE or US Bank Cash+ (both no AF)
Since you don't do groceries much I would go with US Bank Cash+, main reason being it's the continuous drop on AMEX acceptance.
Pro of AMEX is the soft pulls CLIs every 6 months which is great if you're trying to build higher credit lines.
US Bank Cash+ might be harder to get since it's Visa Signature (minimum 5K cl) and you have to apply at a branch.
---------------------------------------
Current in my Wallet
Amex BCP - 25K (02/12)
Barclay Arrival WMC - 15K (10/13)

Future
US Bank Cash +

Socks drawer
Crap One Quicksilver - 1.7K (04/11)
CSP - 15K (03/13)

Scores
FICO EX 772 / TU 765 / EQ 762 - (09/14)
AAoA 2.1


RewardHop
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Postby RewardHop » Sat Mar 09, 2013 2:42 am

Cash+ would be my first choice if you dine out a lot and shop at department stores (5% cashback both), but that may be a bit of a stretch for you. The alternative is the Citi Forward, 5% at fastfood and restaurants. (Its about 4.1% when you redeem it for a gift card unless you have a Citi ThankYou card)
[size=60]
Amex BCE: 3% grocery, 2% gas
Bank of America Better Balance Rewards MC: $25/quarter bonus
Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities
Capital One Quicksilver Visa Signature: 1.5% everything
Chase Freedom Visa Signature: 5% rotating
Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com
Discover It: 5% rotating
SallieMae MC: 5% Groceries, Gas, Amazon
US Bank Cash+ Visa Signature: 5% electronic stores, restaurants
Sock Drawered: Chase Sapphire, Chase Amazon[/size]

DavidNY
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Postby DavidNY » Sat Mar 09, 2013 10:15 am

RewardHop wrote: Citi Forward, 5% at fastfood and restaurants. (Its about 4.1% when you redeem it for a gift card unless you have a Citi ThankYou card)


I thought that 5% Citi Forward was just for students now.

Daniel
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Postby Daniel » Sat Mar 09, 2013 4:32 pm

DavidNY wrote:I thought that 5% Citi Forward was just for students now.


I do think the Forward is discontinued with the exception of the Forward student card.



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