Looking for Second Card

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Joined: Thu Sep 17, 2015 10:48 am

Looking for Second Card

Postby useroh » Thu Sep 17, 2015 10:54 am

Hello All,

I need some help in choosing a new secondary credit card. I hope these are enough details.

Right now I carry two cards for everyday use: AmEx BCP and a Capital One card. I am closing out the CapOne -- have never really been satisfied with them.

My FICO is 790 and I plan on spending around $8-10K on the card. Most of my purchases will continue to be on the BCP.

I would prefer a card with no AF unless I can justify it with cash back/rewards. I would prefer travel rewards, but open to anything.

I would prefer a Visa card to supplement the AmEx since it is not accepted everywhere.

Thank you for your time. It is much appreciated.

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Re: Looking for Second Card

Postby Vermonster » Thu Sep 17, 2015 8:18 pm

Well I'm going to be the first to say that a Chase Freedom would be a very good second card, followed by a Sapphire Preferred.

It would be a little strange going from cash back to points, but you can do it. Plus the signup bonus is pretty good right now.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

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Re: Looking for Second Card

Postby takeshi » Fri Sep 18, 2015 7:50 am

The info provided is kinda vague. The spend amount helps but what specific categories does the spend fall under and how much for each category? How much for non-category spend?

No one wants to pay AF's but don't just look at AF's and always consider total cost/benefit. To do that you need to run the numbers for your spend for any cards you're considering.

Travel rewards is also very vague. Wanting to travel doesn't mean that a points or miles based program is a best fit. Again, that requires running numbers for one's spend and considering the specifics of a given rewards program to determine whether or not one could maximize point/mile value -- especially when it comes to redemptions. I do find Chase's UR program to be an excellent fit for me but I wouldn't just blindly recommend UR cards to everyone.

However, with that level of spend I'd guess that a cash back card would probably be a better fit. Running the numbers for cash back is very straightforward. A 2% card would yield $160-200 on $8K to 10K of spend. The Citi DoubleCash isn't a Visa but MasterCard's acceptance is very similar. If you can provide spend category data we can look at whether or not a card that offers a higher earn rate on specific categories would be a better fit for you.

useroh wrote:I am closing out the CapOne -- have never really been satisfied with them.

Why not? This would also help us understand what you're not looking for.

useroh wrote:My FICO is 790

Keep in mind that you don't have just one score. FICO 8 may be the most commonly used FICO model but there are card issuing creditors that use other FICO models. Typically for a given model you have a score with each CRA. Where are you getting this score from? What model is it? What CRA was used as a data source? Have you ever checked on scores based on data from the other 2 major CRA's?

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