Credit Card Discussion Thread
- Thread starter Blackout
- Start date
0% interest rate.my credit score would go down if it changed to 0%
Is the $550 annual fee a deterrent for you? If not, why not
It isn’t just with all these travel restrictions I’m trying to see if it’s worth it. Not even sure if centurion lounge is open.Is the $550 annual fee a deterrent for you? If not, why not
humminbird
Veteran
Yeah I want one too but I’m holding off til next year
humminbird
Veteran
How many credit cards do you guys have on average
I'm thinking about getting the chase freedom line just for the $200 credit when you buy $500 bonus but it would be my 3rd card
I'm also thinking of getting the bonus and cancelling the card a year later
I'm thinking about getting the chase freedom line just for the $200 credit when you buy $500 bonus but it would be my 3rd card
I'm also thinking of getting the bonus and cancelling the card a year later
How many credit cards do you guys have on average
I'm thinking about getting the chase freedom line just for the $200 credit when you buy $500 bonus but it would be my 3rd card
I'm also thinking of getting the bonus and cancelling the card a year later
I got 2 cards.
BoA Cash Rewards and CapOne Quicksilver. I like my stuff to be easy breezy.
3% on gas for the BoA Cashrewards. 1.5% on everything with Capital One. No Annual Fees or Foreign Txn fees.
I’m good with this set up for now. Only other card I’d think about getting is the Chase Sapphire Reserve, but I’m good for now.
Rather increase my credit limits on the BoA and CapOne first.
I would need 4-5 cards minimum. Gas, grocery, dining, Amazon, general spend.
Once you get a card for a purpose and only use it for that it is simple. On the average purchase you're probably leaving 3.5% cash back on the table to say it's simple and get 1.5%.
For gas and grocery the Amex BCP hits both 6% groceries and 3% gas. For dining the Chase Freedom hits that for 3% and gives you 5% rotational categories, Amazon Prime Visa is 5% back on all Amazon purchases with Prime membership. The general Spend I'd go SoFi, Fidelity, or Citi Double Cash for 2% on everything.
My most used card is my Amex BCP. It has a $95 annual fee but we have a general store called Meijer that's coded as a grocery store and sells way more. The card pays it's own annual fee. If you spend $250 a month at a grocery store the card pays for itself. Most of my cards are on my cell phone and I use contactless payments. My Amazon card I don't even physically use the card it's just tied to the Amazon account and it's only used there.
Makes sense. I could see maybe a 3rd for groceries because it’s an essential recurring expense and possibly a travel rewards. But I think 5 and 6 cc’s starts pushing it for me.
Essentially I’m just a simple person concerning CC spend. I spent the past couple of months getting my finances in order (auto pay, streamlining payment dates etc).
I’d like to run this system for the next couple of months before I look to introduce other CCs to optimize spend.
End of the day personal finances should be done in a way that’s painless and easy. I never care to be those folks with binders on CCs and spreadsheets to optimize the points and get all the perks. At that point the CCs have a hold on me. But it seems like your system is working.
I’m not gonna rush out there to start signing up for more cards but instead hone in on my expenditure and see how to better optimize it. You’re right, there’s money on the table
DeeezNuts
All Star
Anyone here gotta NavyFed credit card? I know they have like 4-5 diff ones.. trying to see the best one to get… either one of them or I’m looking at the chase freedom unlimited card
DeeezNuts
All Star
After some research, I went with NavyFed.. applied and got approved for 25k…5.99% APR…got their Platinum Card.. still contemplating if I should get the Chase Freedom Unlimited