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 (Yep, it's really $2001. I never use it, opened for % off in 2003)
Amazon Visa Preferred, $5k (new, opened a week ago)
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.
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.