What card(s) for me?

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TheSwarm
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What card(s) for me?

Postby TheSwarm » Mon Aug 18, 2014 11:13 am

Hello, I am trying to find 1 or 2 cards that will take care of my desires.

I ideally would like 1 card for everything. I don't have a frequent travel account with anyone but am not opposed to opening one. I like the idea of using points to redeem travel rewards like purchasing airline tickets.

My spending habits are roughly $150/month on groceries
$300/month on gas
$500/month on misc (restaurants, etc.)
I fly roughly once or twice per year

Is there a card that is most advantageous to everyday spending for redeeming travel rewards? Also I don't mind a yearly fee if I would make up for it in rewards at my spending level.

Thanks


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nismoZtuner
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Postby nismoZtuner » Mon Aug 18, 2014 3:44 pm

TheSwarm wrote:Hello, I am trying to find 1 or 2 cards that will take care of my desires


I would say the Chase Sapphire Preferred!

its only a $95 a year- waved the first year.

- After you spend 3k (something like that) you'll get 40k points which is about $400.. ad an AU and you'll get another 5k points!
- Visa Signature perks
- points are transferable as well so that a plus. (Marriott, hyatt, united and others)
- plus card material is not plastic!


**if you make up your mind and go for the CSP I can refer you and I`ll get points too!
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710
BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]
American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]
Chase Sapphire Preferred[7.3]
Inquires: TU(?) EX(?) EQ(?)
TCL-$19,800
Age-22

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CarefulBuilder14
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Postby CarefulBuilder14 » Mon Aug 18, 2014 3:51 pm

No one can suggest a card for you without knowing a bit about your credit history.

Do you know any of your FICO scores? You will have a lot more options with a FICO score of 750 as opposed to 550.

If you're new to credit cards, maybe you've had a car loan before or other form of credit? If this is your first form of credit of any kind, you may need to start with a low or no-rewards card to build up a history for a few months.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

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nismoZtuner
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Postby nismoZtuner » Mon Aug 18, 2014 3:52 pm

CarefulBuilder14 wrote:No one can suggest a card for you without knowing a bit about your credit history.

Do you know any of your FICO scores? You will have a lot more options with a FICO score of 750 as opposed to 550.

If you're new to credit cards, maybe you've had a car loan before or other form of credit? If this ifs your first form of credit of any kind, you may need to start with a low or no-rewards card to build up a history for a few months.


that's true I jumped a bit too quick..
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710

BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]

American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]

Chase Sapphire Preferred[7.3]

Inquires: TU(?) EX(?) EQ(?)

TCL-$19,800

Age-22

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CarefulBuilder14
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Postby CarefulBuilder14 » Mon Aug 18, 2014 3:57 pm

If the OP does have a strong history, then CSP would be a reasonable choice for the first year. The annual fee in subsequent years might eat up a lot of the rewards, though.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

User avatar
nismoZtuner
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Posts: 1105
Joined: Thu Jun 27, 2013 12:39 pm
Location: EARTH -CA

Postby nismoZtuner » Mon Aug 18, 2014 4:13 pm

CarefulBuilder14 wrote:If the OP does have a strong history, then CSP would be a reasonable choice for the first year. The annual fee in subsequent years might eat up a lot of the rewards, though.


The other card would be the Marriott Rewards Premier (hotel mainly) free night every year so that evens out the fee. the fee for the MRP is $85 while a hotel room goes for over $120.. I use my free night at a category 5 which is about $150-80 per night so $80 vs 120+ worth it..

BTW-i just received my free night stay certificate and 15 elite credits this morning..
TU 752 (+4) - [5/9/2014] CK 726 - [11/24/14] EX 725 - [11/20/14] EQ 710

BankofAmerica Cash Rewards [2k] I American Express Blue Cash Everyday [3K] l Discover IT[2.5]

American Express Premier Rewards Gold [NPSL] I Marriott Rewards Premier [5k]

Chase Sapphire Preferred[7.3]

Inquires: TU(?) EX(?) EQ(?)

TCL-$19,800

Age-22

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CarefulBuilder14
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Location: United States

Postby CarefulBuilder14 » Mon Aug 18, 2014 4:29 pm

From another thread, I see the OP had a BCE not long ago as well as a BofA card of some sort and a Chase Slate.

OP, if you still have those and like simplicity, I'd just stick with the Amex BCE plus the Chase Slate (if you still have it) as a backup. Maybe try to change the Slate into a Freedom?

If you want to play the sign-up bonus game, there are many, many cards you can try. Most of those cards have fees after the first year. You can always cancel them before the AF becomes due, but it would be the opposite of a simple '1 card for everything' strategy.

Given that you already have a BCE, I don't see that it would make much sense to try to get more cards to maximize your rewards until your spending increases.

Edit: If you really want to maximize your rewards, even at the cost of complexity, you could get a Sallie Mae MC for gas and groceries and an Arrival for the travel expenses. Maybe an Amex EveryDay card and convert MR points into airline loyalty programs?
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

TheSwarm
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Posts: 74
Joined: Wed May 28, 2014 1:13 am
Location: California

Postby TheSwarm » Mon Aug 18, 2014 5:13 pm

I am sorry, I should have included those details originally.

I don't know my exact fico score, but I would guess it's around 750. I have had the Slate and BCE for about 2 years now and I don't use them at all. I think their limits are 3,500 and 6,900 respectively. In May I signed up for the PRG because of the sign up bonus but I don't think I will spend enough to make it worth the fee after the first year. So I'll probably close the PRG after a while but for now I normally just use the PRG for everything.

I like to keep it simple which is why I was asking if there is a one size fits all type situation for me.

If I do get another card that fits my needs I definitely could take advantage of any sign up bonus.

I hope this paints a clearer picture. Let me know if you need any more info.

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CarefulBuilder14
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Postby CarefulBuilder14 » Mon Aug 18, 2014 5:34 pm

You definitely don't spend enough, in total, to justify the PRG's fee once it comes due after the first year based on spending rewards alone. Since I prefer cash to MR points, I can see BCE totally replacing my PRG spend categories. Only close the PRG shortly before the fee is triggered, though, in case you need to make a big purchase, fly, or need the roadside assistance.

Don't neglect to put an occasional charge on your BCE and Slate, though, so the issuers don't close them due to inactivity.

Edit: You'll probably revert to using the BCE as your everyday card once you close the PRG?
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

TheSwarm
Platinum Member
Platinum Member
 
Posts: 74
Joined: Wed May 28, 2014 1:13 am
Location: California

Postby TheSwarm » Mon Aug 18, 2014 5:59 pm

Ya that was my plan for now. The slate doesn't really do anything for me so I'll just be left with the BCE to use after I close the PRG.

I just didn't know if there was something better that I could use as an everyday card. And I always thought it would be nice if there was a card that provided more of a benefit to travel rewards from everyday spending.



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