Looking to Open up another Card today [Which One]?

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Vattené
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Re: Looking to Open up another Card today [Which One]?

Postby Vattené » Fri Jan 29, 2016 5:03 pm

Look at it this way. At the higher end, the ink cash will get you about $8.95 in 5% spending a month. If you just spend $600 a month on a Quicksilver card (phone and cable bill included), you'll get $9 in cash back. That's not considering any non-5% spending on the Ink Cash, but it doesn't take much spending to equal that.

The 5% is appealing, but when you compare each card to your spending as a whole, I think Capital One may net you more.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now


Tubpbs
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Re: Looking to Open up another Card today [Which One]?

Postby Tubpbs » Fri Jan 29, 2016 5:50 pm

Vattené wrote:Look at it this way. At the higher end, the ink cash will get you about $8.95 in 5% spending a month. If you just spend $600 a month on a Quicksilver card (phone and cable bill included), you'll get $9 in cash back. That's not considering any non-5% spending on the Ink Cash, but it doesn't take much spending to equal that.

The 5% is appealing, but when you compare each card to your spending as a whole, I think Capital One may net you more.


I don't understand why everyone hates the Citi DC. It doesn't make sense. I understand you get 1%+1% later and it takes a cycle etc etc, but 2% is more than 1.5%. It just doesn't make sense why anyone would say they prefer 1.5 > 2 when it's literally the simplest math in the world...
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

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Vattené
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Re: Looking to Open up another Card today [Which One]?

Postby Vattené » Fri Jan 29, 2016 8:25 pm

I've got nothing against the DC (in fact it was the first card I recommended). I think OP wants an introductory bonus. DC easily provides better long-term value, but $100 quick cash is tempting.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

Nixon
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Re: Looking to Open up another Card today [Which One]?

Postby Nixon » Fri Jan 29, 2016 8:29 pm

I hear Credit One is looking to approve.
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CarefulBuilder14
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Re: Looking to Open up another Card today [Which One]?

Postby CarefulBuilder14 » Fri Jan 29, 2016 9:21 pm

OP, do you have (or can you move) assets at (to) BofA? The Preferred Rewards program might be worth exploring - and might make the Travel Rewards card better than Double Cash.

If that's not possible, Double Cash is probably the best option. DC is mostly uninteresting to people with a lot of good cards. Once a person has a few good cards, any additional cards either need a great bonus or some special spend category or perk.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

kdm31091
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Re: Looking to Open up another Card today [Which One]?

Postby kdm31091 » Sat Jan 30, 2016 8:24 am

I don't think anyone hates the DC...it's just a matter of weighing every part of the equation. Pure value of rewards are not always the only consideration. One has to think about customer service, CLI flexibility, ease of reward redemption, etc. How much each of things matter depends on the person, and honestly in many cases I'd give the nod to Citi for better customer service. Reward redemption though - you cannot beat capital one. While 2% is more than 1.5%, the bottom line is that for most spending, the difference is fairly trivial. I'd rather have 1.5% that can be cashed out whenever with zero delay vs 2% that I wait two months for and hope I have $25 because if not, can't do anything. To be fair, a $25 minimum isn't as bad as say, the Amex requirement of $25 increments, but people who hate restrictions still find it annoying.

Remember also the bonus. I am NOT a bonus hunter by any means, but like you say about simple math: 1.5% + $100 bonus is going to outweigh 2% for a long time if we're talking about signing up for a new card.

True rewards purists who want the maximum reward no matter what tend to favor the DC. Those who are willing to give up a tiny bit of rewards in favor of convenience like the QS. No right or wrong answer, just a preference. For me, I have both. I don't honestly use my DC very often, but I do hate Capital One's lack of APR flexibility and such with customers. Double edged sword I guess.

Tubpbs
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Re: Looking to Open up another Card today [Which One]?

Postby Tubpbs » Sat Jan 30, 2016 2:41 pm

kdm31091 wrote:I don't think anyone hates the DC...it's just a matter of weighing every part of the equation. Pure value of rewards are not always the only consideration. One has to think about customer service, CLI flexibility, ease of reward redemption, etc. How much each of things matter depends on the person, and honestly in many cases I'd give the nod to Citi for better customer service. Reward redemption though - you cannot beat capital one. While 2% is more than 1.5%, the bottom line is that for most spending, the difference is fairly trivial. I'd rather have 1.5% that can be cashed out whenever with zero delay vs 2% that I wait two months for and hope I have $25 because if not, can't do anything. To be fair, a $25 minimum isn't as bad as say, the Amex requirement of $25 increments, but people who hate restrictions still find it annoying.

Remember also the bonus. I am NOT a bonus hunter by any means, but like you say about simple math: 1.5% + $100 bonus is going to outweigh 2% for a long time if we're talking about signing up for a new card.

True rewards purists who want the maximum reward no matter what tend to favor the DC. Those who are willing to give up a tiny bit of rewards in favor of convenience like the QS. No right or wrong answer, just a preference. For me, I have both. I don't honestly use my DC very often, but I do hate Capital One's lack of APR flexibility and such with customers. Double edged sword I guess.


I see your points. I suppose it seems we just have opposite opinions when it comes to the cards. I see obviously the sign up bonus issue (I actually PCed my DC from a "Platinum Select" so it wasn't on the table for me that much anyway). On the other points I think we just disagree in terms of rewards vs convenience. No big deal. I also like Citi so that's a factor for me as well.
Amex - BCP, Platinum, Business Gold
BoA - BankAmericard Cash Rewards
Chase - Freedom, CSP, RC, Ink Plus
Citi - DC, Prestige
Discover - It

CCGuy88
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Re: Looking to Open up another Card today [Which One]?

Postby CCGuy88 » Mon Feb 01, 2016 9:18 am

I think I'm going to go with the Ink Cash. The $200 signup bonus, as it would suit me more at this point, and then 6-8 months download the line, the captial one 1.5% would be more suitable.



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