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

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

Postby CCGuy88 » Fri Jan 22, 2016 11:56 am

I've been paying my freedom off in full every month the past 2 years, and I think its time to get a new cc. I had my eyes set on the CSP for quite sometime, but there seems to be many changes to it, and then the $95 fee, etc, I've kind of strayed away from it. I do not do much traveling, but i intend to travel rarely in the future.

So I'm looking for something probably with a $0 AF, nice cash back rewards, and nice signup.

I've found 3 (and please if you find any better, feel free to post):

- Chase Ink Cash Business card

- Amex Bluecash Everyday

- BankAmericard Travel Rewards® Credit Card

*possibly Chase Ink Plus Business card ($95 fee)

I'm leaning towards the ink cash (the 5/24 rule doesnt apply to me as I havent applied any card in over 2 years and only have the freedom). Plus the signup bonus is nice, extended warranty, 5x on cellphone bill, and no af.

I would love to anyone's thoughts.


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CarefulBuilder14
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Re: Looking to Open up another Card today [Which One]?

Postby CarefulBuilder14 » Fri Jan 22, 2016 12:44 pm

Extended warranties from credit cards tend to come with a lot of exceptions and some inconvenience.

Is there a particular hotel or airline you expect to use when you do travel?
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

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

Postby CCGuy88 » Fri Jan 22, 2016 1:21 pm

Not particularly. Pretty much the cheapest flight.

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

Postby Vattené » Fri Jan 22, 2016 3:53 pm

If you're looking for cash back, the Citi Double Cash card is hard to beat. 2% on everything, but the catch is there's no bonus. Quicksilver from Capital One is similar with 1.5% on everything and a $100 bonus. While it's possible to get offers for higher, $100 for a no-AF cash back card is good.

A Discover Miles card might be a good fit? It's similar to the BofA Travel Rewards card in that it earn's 1.5 "miles" on everything, but the Discover is basically a cash back card (you can get statement credits for travel purchases or deposit them to your bank account with no dilution) where the BofA rewards have to be redeemed against qualifying travel purchases. Discover also has their double cash back promo for new members, effectively making it a 3% cash back card for the first full year. If you're using your Freedom for everything now and this would replace any non-category spending, the bonus could be pretty big. If you spend more than $13,333 in the first year your introductory bonus would be greater than the BofA Travel Rewards card ($13,333 * 1.5% rewards match = $200.00 BofA bonus).
-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

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

Postby CCGuy88 » Fri Jan 22, 2016 4:02 pm

What about the ink cash? Do you think it's better?

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

Postby Vattené » Fri Jan 22, 2016 10:05 pm

I'm not as familiar with the business cards, so someone may need to correct me, but my understanding is the Ink Cash is like the Freedom in that it earns UR but they can't be transferred to partner loyalty programs, which makes it just like any cash back card. It all comes down to your spending, though. Estimating which rewards structure will net you more based on your particular spending is the easy part, but can only be done by you. The biggest judgement is how much of an introductory bonus you're willing to sacrifice for higher longer term rewards. I think the Ink Cash is a good card, and it's perfectly reasonable to take something with a great bonus now because realistically you won't need to keep a card for years and years; you could be ready to move on to something better by then.
-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

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

Postby kdm31091 » Sat Jan 23, 2016 7:43 am

Although 5x on a cell phone bill is nice, how much is one honestly spending on that per month? I am not by any means saying it's a cheap expense ,but what I am saying is that I tend to prefer categories I will spend on throughout the month and frequently, not just a once a month bill. YMMV.

The Bank of America Travel Rewards, IMO, is simply a bad version of a Quicksilver with no real advantage. You get the same 1.5% rewards rate either way, but with BOA you can only apply it to travel purchases. With QS it's 1.5% pure cash. Neither has an annual fee or foreign transaction fee. I just don't see any advantage to restricting yourself with the BOA card.

The Amex BCE is not a bad card, if you spend on groceries/gas/department stores, but you may do better with something like Vattene said: a Quicksilver or Double Cash. The BCE's actual reward payout system is less than ideal. It takes two months to receive the rewards and you can only cash out $25 increments, meaning you'll always have some rewards "in limbo" until you can redeem them for the perfect increment. For me personally, it turns me off to using my BCP very often (likely to downgrade back to BCE).

I'd lean towards a flat cash back card like Quicksilver, Double Cash or Discover Miles. If you run the numbers, you often will see that if you are looking to concentrate spending on just one or two cards, the cards with "special categories" vs flat reward cards often come out to about the same amount of rewards each month overall. (For example, Double Cash is 2% everything and BCE is 1% most things, 2% gas/department, 3% grocery, so the only advantage is an extra 1% on groceries. It would take a LOT of grocery spend for that to eclipse a Double Cash in overall monthly earnings from all your spending).

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

Postby Dcyphrz » Sat Jan 23, 2016 9:20 am

Vattené wrote:...the Citi Double Cash card is hard to beat.

I'll say! :) It's such a great all purpose card that the lack of a sign-on bonus doesn't even matter IMO.
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takeshi
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Re: Looking to Open up another Card today [Which One]?

Postby takeshi » Mon Jan 25, 2016 8:53 am

CCGuy88 wrote:So I'm looking for something probably with a $0 AF, nice cash back rewards, and nice signup.

Don't just consider AF/no AF. Determine your biggest spend categories (including noncategory) and find cards that maximize rewards on that spend. Run the numbers for your spend. If you're looking at point/miles programs then look past just the earn rates and consider redemptions. Determine how the redemption methods you can use impact rewards value.

CCGuy88 wrote:I've found 3 (and please if you find any better, feel free to post):

- Chase Ink Cash Business card

- Amex Bluecash Everyday

- BankAmericard Travel Rewards® Credit Card

How/why did you select these 3? "Better" is always highly subjective, regardless of topic. It's not just about the cards. It's about you and what suits you best.

Are office supply stores, cell phone, landline, internet and cable TV one of your biggest spend categories? Does the BCE yield you more rewards than the BCP for your spend?

Keep in mind that the UR points that the Freedom and the Ink Cash accrue are generally worth more when transferred and redeemed via travel partners. However, as stated above, the Freedom and Ink Cash cannot transfer.

CCGuy88 wrote:Not particularly. Pretty much the cheapest flight.

In that case, cash back cards are probably a better fit for you generally.

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

Postby CCGuy88 » Fri Jan 29, 2016 9:02 am

Yes, it seems cb is the way to go. I spend small purchase on groceries and gas, but I also make some purchase $50-500 every once in awhile.


My cell phone bill is about $800-950 a year, cable runs about 100 a month (theres a $150 package with phone, cable, internet), plus gas I dont spend that much. I dont expect to spend $25,000 on a card alone at all.

So thats why I leaned more towards the ink cash.

but now, I've kind of decided between the ink cash and the capital one card mentioned earlier.

It's hard to decide.



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