- Platinum Member
- Posts: 75
- Joined: Sat Jun 07, 2008 6:11 am
- Location: Illinois
Since I use AMEX Blue Preferred as primary (biggest expenses groceries and gas), I need to carry a Mastercard or Visa as a backup.
I have both Chase Freedom and Capital One Quicksilver.
Chase is my second oldest card (2002) and has a $56,500 limit. Also, Chase is my checking account bank, so I qualify for the 10% year-end bonus.
I just got Quicksilver six months ago ($15000 limit) and have been using it steadily. It is a nice simple card that pays 1.5% on everything. I applied for a $2000 increase about a month ago and was declined.
I had been using Cap One to back my AMEX and actually for all everyday purchases except gas and groceries and Costco.
Now I am thinking that it is more important to give my charging and loyalty to my two oldest card (AMEX BLUE PREFERRED and Chase Freedom) than to feed a new card like Cap One.
I know that I might lose some reward by not getting the 1.5%, but Chase Freedom does have restaurants, gas, and groceries categories (grocery spend easily $6000 annually and gas a little over $2000 annually) that I can use.
Plus, the 5% and 1% from Freedom work out (for me) to 5.5% and 1.1% (with 10% year-end bonus)
Any opinions? I do not want a three card strategy. Two cards is nice and simple.