dbourget wrote:I suppose that I don't want to fall into the trap of applying for too many cards and having some get canceled....
I'm concerned because I got all three cards within the past year, and I think that it might seem bad to get more than 3. I'm doing really well with the three and my credit score is over 800. I just don't want to get any cancellations or get my credit ruined for some reason, and I figure that people here have a lot more insight than I do.
1. If your credit score is over 800, the last thing you need to worry about is what opening another card will do to your score. Based on my knowledge, the inquiry will knock it down a few points at most. You can afford that hit and then some.
2. No card issuer will cancel the card on you. This just doesn't happen. Especially if you pay OT/IF or the minimum if you're relying on a low APR card. It doesn't matter if you have two cards or ten. If you're a card holder in good standing, the credit card usually could care less about what else is in your wallet.
3. You can get 5% CB at Amazon with the Freedom on up to $1500 in purchases. If you'll be spending more than that, I suggest just using your Venture to earn miles since you get a better redemption rate and can put it towards your trip to Asia. If you get the Freedom then I recommend also applying for the Sapphire Preferred as you can transfer your easy Freedom earnings to the Sapphire Preferred's better redemption rate.
4. I don't think you need the Sapphire because it will eventually have a annual fee unless you downgrade to the Sapphire. Keep using your Venture to earn miles and you'll get help with paying for that trip to Asia. However, if you want to continue growing your credit line and decreasing your utilization, go ahead and apply to earn that sign-up bonus.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).