Any "Did I really need that card?" moments?

Where you can talk about store credit cards, like gas station cards, department store cards, etc.
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Whatamuji
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Re: Any "Did I really need that card?" moments?

Postby Whatamuji » Thu Jun 04, 2015 1:35 am

I applied for the Amazon Rewards Card since it was offering me $70.00 towards my purchase. I was approved and thought "well I'm glad I did that!" Then two weeks later I wanted to buy an item that I really didn't wanna have to pay off in a month and figured "what the hey let's apply for the Amazon Store Card!" That application was accepted and then I thought to myself "welp, what am I going to use my Amazon Card for." However I've found some uses for it when I'm not taking advantage of Discovers' rewards calendar 5% on gas and restaurants. Now just gotta find a use for my Amazon Store Card. That might be a bit tricky. Once I get my Bank Americard Cash Rewards in the mail, the Amazon Rewards card is gonna be a little less useful on the gas purchasing front. But it's nice to have options I suppose. Debating if I should get the Chase Freedom card just for the gas cashback quarter. Or maybe the US Bank Cashback+ Card with its you choose the categories scheme.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k


kdm31091
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Re: Any "Did I really need that card?" moments?

Postby kdm31091 » Fri Jun 05, 2015 9:49 am

I think if you are getting sucked up in an impulse to app, it helps to stop and think. "Ok, what cards do I have? Which ones do I use the most? Where does most of my spend go? Can I fit the new card into my patterns?" etc

If you think about it, when adding a new card, sometimes other cards end up going unused or become obsolete for you. The point is to consider all factors.

Vermonster
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Re: Any "Did I really need that card?" moments?

Postby Vermonster » Fri Jun 05, 2015 2:56 pm

Well the more I think about it the less I really should have apped for the Double Cash. I still need to meet the minimum spend on the CSP this month, I think I have $700 to go, then I have the min spend on the BCP which is about another $500 by august. I've got some bills from college that I am interested in "financing" with the DC and my 18 month 0%.

It isn't completely worthless, bit I'm not seeing as much of a use for it as I originally though. Right now it has only been used to pay a traffic ticket :oooo
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

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CarefulBuilder14
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Re: Any "Did I really need that card?" moments?

Postby CarefulBuilder14 » Fri Jun 05, 2015 4:19 pm

Well, Arrival qualifies as a card I didn't need - although that mistake was really just the result of having inaccurate information. It wasn't a case of having good information and feeling impulsive.

I took about two months to hit my CSP minimum spending. I didn't have any other cards at the time that were in their minimum spending window, but I did have other cards that took up a lot of my spending (PRG at Costco, Freedom for groceries, Discover for gas).
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Nixon
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Re: Any "Did I really need that card?" moments?

Postby Nixon » Fri Jun 05, 2015 4:21 pm

CarefulBuilder14 wrote:Well, Arrival qualifies as a card I didn't need - although that mistake was really just the result of having inaccurate information. It wasn't a case of having good information and feeling impulsive.

I took about two months to hit my CSP minimum spending. I didn't have any other cards at the time that were in their minimum spending window, but I did have other cards that took up a lot of my spending (PRG at Costco, Freedom for groceries, Discover for gas).


$200 bonus for $1,000 spend? Why the heck not? :p
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JonE
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Re: Any "Did I really need that card?" moments?

Postby JonE » Mon Jun 15, 2015 11:32 am

Walmart. I mainly use it for groceries but there are other cards that are as easy to get that have better benefits on groceries. I do wish I had canceled that instead of Amazon since Amazon is now uncapped 5% for Prime members (that's me!) On the other hand, I am rebuilding so this is helping. Once my scores reach 700 I'll probably do a review of my credit and see what I can get and what I can afford to drop. If the card is still sitting at a $400 limit by that point that'll be the first to go.
Current Cards: Chase Freedom, Discover IT
Future: TBD

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CarefulBuilder14
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Re: Any "Did I really need that card?" moments?

Postby CarefulBuilder14 » Mon Jun 15, 2015 5:01 pm

JonE wrote:Walmart. I mainly use it for groceries but there are other cards that are as easy to get that have better benefits on groceries. I do wish I had canceled that instead of Amazon since Amazon is now uncapped 5% for Prime members (that's me!) On the other hand, I am rebuilding so this is helping. Once my scores reach 700 I'll probably do a review of my credit and see what I can get and what I can afford to drop. If the card is still sitting at a $400 limit by that point that'll be the first to go.

I see you list CSP and Double Cash as cards you'd like to get in the future. If you'd keep the CSP long-term and can get good value from UR points, you may find that the Double Cash isn't necessary. It does give you a MasterCard though, and a good base reward rate if you later close CSP (or just don't want to bother with point transfers).
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

JonE
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Re: Any "Did I really need that card?" moments?

Postby JonE » Mon Jun 15, 2015 5:26 pm

CarefulBuilder14 wrote:
JonE wrote:Walmart. I mainly use it for groceries but there are other cards that are as easy to get that have better benefits on groceries. I do wish I had canceled that instead of Amazon since Amazon is now uncapped 5% for Prime members (that's me!) On the other hand, I am rebuilding so this is helping. Once my scores reach 700 I'll probably do a review of my credit and see what I can get and what I can afford to drop. If the card is still sitting at a $400 limit by that point that'll be the first to go.

I see you list CSP and Double Cash as cards you'd like to get in the future. If you'd keep the CSP long-term and can get good value from UR points, you may find that the Double Cash isn't necessary. It does give you a MasterCard though, and a good base reward rate if you later close CSP (or just don't want to bother with point transfers).


Yeah, I'm reconsidering the Double Cash since I can put the majority of that spend on CSP and Freedom when I do have both. And I want to have as little cards as possible while still having stuff I would find useful. The BCP is probably the bigger priority with the 3x CLI after 60 days and the fact that they'd probably try to match or beat Chase CSP with the starting limit. When my scores improve CSP is definitely next on the list, since banking with Chase can't hurt.
Current Cards: Chase Freedom, Discover IT
Future: TBD

kdm31091
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Re: Any "Did I really need that card?" moments?

Postby kdm31091 » Wed Jun 17, 2015 9:32 am

JonE wrote:
CarefulBuilder14 wrote:
JonE wrote:Walmart. I mainly use it for groceries but there are other cards that are as easy to get that have better benefits on groceries. I do wish I had canceled that instead of Amazon since Amazon is now uncapped 5% for Prime members (that's me!) On the other hand, I am rebuilding so this is helping. Once my scores reach 700 I'll probably do a review of my credit and see what I can get and what I can afford to drop. If the card is still sitting at a $400 limit by that point that'll be the first to go.

I see you list CSP and Double Cash as cards you'd like to get in the future. If you'd keep the CSP long-term and can get good value from UR points, you may find that the Double Cash isn't necessary. It does give you a MasterCard though, and a good base reward rate if you later close CSP (or just don't want to bother with point transfers).


Yeah, I'm reconsidering the Double Cash since I can put the majority of that spend on CSP and Freedom when I do have both. And I want to have as little cards as possible while still having stuff I would find useful. The BCP is probably the bigger priority with the 3x CLI after 60 days and the fact that they'd probably try to match or beat Chase CSP with the starting limit. When my scores improve CSP is definitely next on the list, since banking with Chase can't hurt.


If you're going to use your CSP as your "main" card you don't need the Double Cash. You have to put most if not all of your spend on a CSP to justify it after the bonus (unless your spend is very high).

Nixon
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Re: Any "Did I really need that card?" moments?

Postby Nixon » Wed Jun 17, 2015 9:39 am

I'm going to consider the DC again next year when the Discover promo expires. Unless something better comes out.
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