New and I need advice!!

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
8 posts
MasonRS
Green Member
Green Member
 
Posts: 4
Joined: Mon Mar 11, 2013 12:28 pm
Location: NYC

New and I need advice!!

Postby MasonRS » Mon Mar 11, 2013 1:07 pm

I'm new to the forums. I only found about this site a few days ago. I've been reading and learning a lot.

I want to make sure i'm heading in the right direction with the credit cards I decide to acquire in the future. Here's the rundown of what I currently have:

Amex PRG
Barclay itunes rewards card - 6.2k
Bankamericard cash rewards - 3k
Bankamericard better balance rewards - 3.5k

I just turned 24, I make 26k. Last year when I checked, my FICO score was 740. My Credit Karma score is 759 and I have an AAoA of 4+ years. I zero debt. I've never missed a payment and I pay all my card in full every month.

I would like more diverse cards with better rewards. Here's what i'm thinking

Barclay Rewards MasterCard (This is to replace my itunes rewards card, which I only got for school)
Chase Freedom
US Bank +
Amex BCE

Am I heading in the right direction? Should I be doing something more (closing accounts, downgrading, CLI ect)? What are my chance of getting approved for the cards I've listed?
Thanks in advance


dickey1331
Centurion Member
Centurion Member
 
Posts: 229
Joined: Thu Mar 07, 2013 10:59 pm
Location: Houston, TX

Postby dickey1331 » Tue Mar 12, 2013 4:39 pm

I think you got a good chance getting accepted credit wise. Only thing I see possibly being a negative is income but you have nothing negative on your credit report.

As for cards I would recommend is Chase Freedom or Discover It. Both have better rewards with revolving 5%.
Platinum Delta Skymiles $12,900
Marriott Rewards Premier $12,000
Discover IT $12,000
USAA Cash Rewards $11,000
American Express Blue Cash Preferred $10,000
Chase Sapphire Preferred $6,500
Best Buy $6,000
Chase Freedom $4,500
Zales $4,000
Amazon Prime $4,000

MasonRS
Green Member
Green Member
 
Posts: 4
Joined: Mon Mar 11, 2013 12:28 pm
Location: NYC

Postby MasonRS » Wed Mar 13, 2013 2:02 am

Ah so I need to make more money, is that all? lol. I'll take a look at the discover it card. Thanks for the reply

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Wed Mar 13, 2013 1:10 pm

What do you spend most of your money on? Or where?
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

swipe_masta
Centurion Member
Centurion Member
 
Posts: 186
Joined: Tue Feb 19, 2013 5:22 pm
Location: USA

Postby swipe_masta » Wed Mar 13, 2013 1:36 pm

I would say BCE. 3,2,1% $back system is pretty good. Their customer service is exceptional. Both Discover and Freedom offers 5% on rotating categories (I am not fond of things that rotate) and caps at $1,500 I believe? Whereas BCE caps at $6,000. Plus I think Amex cards in general look pretty cool. Do you like the PRG? Are you benefiting from the rewards vs. the annual fee? Im pretty positive that you can't pc from a charge card (PRG) to a credit card (BCE) but you definitely have a better shot of gettin approved for any Amex card if you already are a cardmember. if you don't mind the annual fees, then the Blue Cash Preferred would be a good choice. I love my Venture from CapitalOne. 2x points on every purch with no limit and points don't expire and the annual fee is a mere 60 bucks.

MasonRS
Green Member
Green Member
 
Posts: 4
Joined: Mon Mar 11, 2013 12:28 pm
Location: NYC

Postby MasonRS » Thu Mar 14, 2013 2:06 am

I spend most of my money on groceries and amazon. I spend about $700/month on groceries and amazon varies.

MasonRS
Green Member
Green Member
 
Posts: 4
Joined: Mon Mar 11, 2013 12:28 pm
Location: NYC

Postby MasonRS » Thu Mar 14, 2013 2:38 am

I'm not to excited about most of the categories that Discover and Freedom have posted for the year. The 5% on amazon and department stores for the holiday season is really the only reason i'm currently considering them. Would it be best to wait until September to apply for Discover or Freedom to capitalize on holiday shopping? I could apply for BCE or BCP now since I would get more immediate use of those cards. That seems like it makes more sense.

swipe_masta
Centurion Member
Centurion Member
 
Posts: 186
Joined: Tue Feb 19, 2013 5:22 pm
Location: USA

Postby swipe_masta » Fri Mar 15, 2013 12:26 am

MasonRS wrote:I'm not to excited about most of the categories that Discover and Freedom have posted for the year. The 5% on amazon and department stores for the holiday season is really the only reason i'm currently considering them. Would it be best to wait until September to apply for Discover or Freedom to capitalize on holiday shopping? I could apply for BCE or BCP now since I would get more immediate use of those cards. That seems like it makes more sense.


You can always buy amazon gift cards at the grocery store and get the full 3% or 6% cashback (depending on whether you get the BCE or BCP). In general, you can buy any gift cards and get the full cashback so long as you get it at a grocery store. If you shop at amazon as much as you say you do, you might want to look at the amazon visa card from Chase. Get one or the other Blue Cash for groceries and gas and get the chase amazon card for your purchases for amazon.



Return to “Rewards”

Who is online

Users browsing this forum: No registered users and 0 guests