Looking for new Rewards cards, have it narrowed down (I think)

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Frank512
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Looking for new Rewards cards, have it narrowed down (I think)

Postby Frank512 » Fri Feb 01, 2013 10:04 pm

Hey everyone,

I recently opened an Amazon Visa Preferred because I got $50 off of a new TV for opening and it got me thinking about my current mix of cards and their rewards. I started Googling Cashback Credit Card's and came across this site. The Amazon Visa isn't as good as some other offers I've come across. I mainly got it for the $50 off, I don't do this often though. I'm not a huge spender but I'm looking to maximize my cashback just like all of you.

Here is what I currently have:
Amex Blue Cash, $12k
Chase Freedom Visa, $6.9k
Sears MC, $2001 :confused: (Yep, it's really $2001. I never use it, opened for % off in 2003)
Amazon Visa Preferred, $5k (new, opened a week ago)
Newegg.com, $3200
Kohls, $900
Total Credit: $30,001 (Can't forget that $1)

I have more then enough credit then I could need with my current income, but I want different cards to serve a specific purpose in terms of cashback. I was thinking of going with the following:

1. Call Amex and have Blue Cash switched over to Blue Cash Everyday (I don't spend nearly enough to get the preferred and pay the AF) and just use to pick up the slack if I max out the limit of $250/mo on #2. I'm never going to hit $6500 on this anymore, so I may as well see if they can convert it over to Everyday.

2. If possible, the Sallie Mae World MasterCard. Is this a student only credit card? It's obviously advertised in that manner with the student loan credit and cashback for books etc. It would fit my needs as far as Grocery and Gas purchases ($250 max a month in each category) at 5% throughout the year, but I'm not a student.

3. Priceline Visa for 2% on purchases. Will use this for bills and general spending. The way I understand this, it's is not just a straight statement credit, but a credit towards a purchase of $25 or more? Kinda strange but I suppose it'd work as long as I'm not stuck with 1% elsewhere. Any others that are a straight 2% with a statement credit?

This would cover me pretty good I think, unless there is some other recommendations. I wanted to post here before I apply for cards and realize there was another way I could have gone that is more beneficial. I don't have all of my credit score info at the moment, but my Sears Card (until June, at least it's good for something until then) gives me my TransUnion Score which shows up at 778.

Some questions:

1. Since I just opened the Amazon Visa about a week ago, is it ok to open two more cards right away, or should I wait some time in between? My average age of accounts is something around 8 years right now which would obviously go down, but I don't think this would hurt too much?

2. I just realized that both cards I want to apply for (The Sallie Mae and Priceline) are both through Barclays! Is that gonna be a problem, and if not, can I somehow apply for both and only get one inquiry on my credit report?

3. Is it possible Citibank can convert my Sears MasterCard into something more useful for me? I rarely shop at Sears/Kmart.

I would appreciate any info and advice. Apologies for the length of the thread. I don't know too much about a lot of this stuff. I just pay my bills on time, in full every month and my utilization is usually pretty far under 10%. I'm not too worried about score as I have no intentions of getting a car loan or mortgage anytime soon.

Thanks,
Frank
Amex Blue Cash Everyday - $12,000
Capitol One Quicksilver - $10,000
Discover IT - $7,500
Chase Freedom - $6,900
Chase Amazon - $5,000
Sallie Mae - $5,000
Barclay NFL - $3,000
Sears - $2,001
Kohl's - $900

FICO - 798 (4/29/14)


DavidNY
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Postby DavidNY » Sat Feb 02, 2013 5:56 pm

Frank512 wrote:2. If possible, the Sallie Mae World MasterCard. Is this a student only credit card? It's obviously advertised in that manner with the student loan credit and cashback for books etc. It would fit my needs as far as Grocery and Gas purchases ($250 max a month in each category) at 5% throughout the year, but I'm not a student.
The Sallie Mae MC I have is not a student card. When you have $25+ in rewards you can request a statement credit. This card also gives 5% back on up to $750/month at bookstores including Amazon.

Frank512 wrote:3. Priceline Visa for 2% on purchases. Will use this for bills and general spending. The way I understand this, it's is not just a straight statement credit, but a credit towards a purchase of $25 or more? Kinda strange but I suppose it'd work as long as I'm not stuck with 1% elsewhere. Any others that are a straight 2% with a statement credit?
The Priceline Visa gives a credit towards recent purchases of $25 or more. The other 2% option is Fidelity Amex. The rewards go into a Fidelity Cash Management Account, which is a free checking account.

Frank512
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Location: Toms River, NJ

Postby Frank512 » Sat Feb 02, 2013 8:40 pm

Thanks David! Glad to hear about the Sallie Mae MC. I will definitely be looking to pick that one up first. Even though the Fidelity checking account is free, I think I'd stick with the Priceline Visa over the Amex due to Amex not being as widely accepted and for my purposes as a general spending card, it wouldn't fit. (For instance my car insurance doesn't accept them)
Amex Blue Cash Everyday - $12,000

Capitol One Quicksilver - $10,000

Discover IT - $7,500

Chase Freedom - $6,900

Chase Amazon - $5,000

Sallie Mae - $5,000

Barclay NFL - $3,000

Sears - $2,001

Kohl's - $900



FICO - 798 (4/29/14)


Frank512
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Location: Toms River, NJ

Postby Frank512 » Wed Feb 06, 2013 10:38 am

Well I just called Amex and they converted my Blue cash to Blue Cash Everyday effective tomorrow, but I don't see myself using this card too much anymore. Anyone have an opinion on question #2 in my original post? Is it ok to apply for two cards from the same bank at the same time? Any preferred methods for doing so? One now, one later? Both at exactly the same time? Thanks
Amex Blue Cash Everyday - $12,000

Capitol One Quicksilver - $10,000

Discover IT - $7,500

Chase Freedom - $6,900

Chase Amazon - $5,000

Sallie Mae - $5,000

Barclay NFL - $3,000

Sears - $2,001

Kohl's - $900



FICO - 798 (4/29/14)

FutureBillionaire
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Postby FutureBillionaire » Wed Feb 06, 2013 11:03 am

Yes, you can app for 2 cards at the same time. We all tend to apply for cards in bunches; we call that app sprees. I was approved for 2 cards from Chase yestrday. I apped for the cards within an hour or so from each other.

No apologies needed for the length of your post. We are happy to help. Many of us have received help from folks on here.

I would recommend a card that at least gets 5% on gas all year. Check out the penfed platinum rewards card.
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

Frank512
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Location: Toms River, NJ

Postby Frank512 » Wed Feb 06, 2013 11:32 am

Sounds good, I might apply for them both today. The SallieMae Card would provide me the 5% cashback for pretty much all Gas and Groceries. Also has a $25 first use bonus. It is capped at $250 per billing cycle on each category, but that's very close to my monthly spend for Gas and Groceries right now anyway so I can kill two birds with one stone there. If I end up going over the $250 spend on Gas/Groceries, I can use the Chase Freedom for 5% when gas is a bonus category since I already have it, and the Blue Cash Everyday for 3% on Groceries. These charges would be minimal in most cases.
Amex Blue Cash Everyday - $12,000

Capitol One Quicksilver - $10,000

Discover IT - $7,500

Chase Freedom - $6,900

Chase Amazon - $5,000

Sallie Mae - $5,000

Barclay NFL - $3,000

Sears - $2,001

Kohl's - $900



FICO - 798 (4/29/14)

FutureBillionaire
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Location: Down South

Postby FutureBillionaire » Wed Feb 06, 2013 11:41 am

Frank512 wrote:Sounds good, I might apply for them both today. The SallieMae Card would provide me the 5% cashback for pretty much all Gas and Groceries. Also has a $25 first use bonus. It is capped at $250 per billing cycle on each category, but that's very close to my monthly spend for Gas and Groceries right now anyway so I can kill two birds with one stone there. If I end up going over the $250 spend on Gas/Groceries, I can use the Chase Freedom for 5% when gas is a bonus category since I already have it, and the Blue Cash Everyday for 3% on Groceries. These charges would be minimal in most cases.


Sounds like you have everything worked out pretty well. Enjoy making money from your credit cards usage!
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


Frank512
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Location: Toms River, NJ

Postby Frank512 » Wed Feb 06, 2013 12:12 pm

FutureBillionaire wrote:Sounds like you have everything worked out pretty well. Enjoy making money from your credit cards usage!


I certainly will! I just wish US Bank Cash+ Bill pay category wasn't axed right as I started to focus more on cash back outside of just Gas/Grocery. That would have been great for me since the majority of my spending is just Gas/Groceries/Bills. Oh well, I'll have to settle for the 2% on the Priceline Visa unless something else comes along.

I'm considering the Chase Ink Cash Business card for Verizon Wireless/Comcast bills at 5%. Also has a $200 bonus after $3k in 3 months but that would be a tough number for me to hit for the bonus. I have Car Insurance and Property taxes both in May so I might wait until then and go for that one and have a shot at the bonus. Property taxes usually has a convenience fee though, but if it gets me the $200 bonus, it's worth the extra fee.
Amex Blue Cash Everyday - $12,000

Capitol One Quicksilver - $10,000

Discover IT - $7,500

Chase Freedom - $6,900

Chase Amazon - $5,000

Sallie Mae - $5,000

Barclay NFL - $3,000

Sears - $2,001

Kohl's - $900



FICO - 798 (4/29/14)

DavidNY
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Location: New York

Postby DavidNY » Wed Feb 06, 2013 1:11 pm

Frank512 wrote: I think I'd stick with the Priceline Visa over the Amex due to Amex not being as widely accepted


It's not quite a flat 2%, but Fidelity Visa earns 1.5 points for each $1 spent on the first $15,000 in purchases per year, and 2 points per $1 in purchases made thereafter.

Frank512
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Location: Toms River, NJ

Postby Frank512 » Wed Feb 06, 2013 1:20 pm

DavidNY wrote:It's not quite a flat 2%, but Fidelity Visa earns 1.5 points for each $1 spent on the first $15,000 in purchases per year, and 2 points per $1 in purchases made thereafter.


Thanks for the info, I will check it out.
Amex Blue Cash Everyday - $12,000

Capitol One Quicksilver - $10,000

Discover IT - $7,500

Chase Freedom - $6,900

Chase Amazon - $5,000

Sallie Mae - $5,000

Barclay NFL - $3,000

Sears - $2,001

Kohl's - $900



FICO - 798 (4/29/14)



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