No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
@wiivile wrote:My problem is that in order to justify the annual fee for the CSP, I would need to put almost all my spending on the CSP to earn enough points. But since the Cash+ is better for restaurants (most of my spending), I'm left with putting 'everyday spend' on the CSP, which will not earn me enough points to offset the fee. So, I'm thinking I'll only have the CSP for a year (after earning the 40,000 bonus and transferring points to partners), after which point I'll simply transfer the credit limit to the Freedom (because it's my oldest card and I'll never close it).
Does it look bad on the credit report to have a card (CSP) that's cancelled after a year?
Just ask to downgrade it to the no AF Chase Sapphire after the first year.
How much spend do you need to do on the CSP for those 40,000 points?
The current sign up bonus appears to be 50,000 points for $3000 spend. If this is a better deal, then the first thing to do is send a message to Chase and ask for the better deal (since it was offered so soon after you applied for the card). Never hurts to ask. And ask again if necessary. I hear (on myFico) that sending a secure message works best with Chase (people have been asking for the improved signup bonus on the Chase Freedom recently)
Just $2000 in 3 months for the 40,000 points since I applied in-branch (as opposed to $3000 for 40,000 points applied online). I didn't want the 50,000 bonus points offer because it has a $125 annual fee which I think is a ripoff if I decide to keep the card.
So I just found out I was approved by U.S. Bank for an $11,200 credit limit. With the $12K from CSP and $3,200 from Freedom, that makes my overall credit limit $26,400. Given that my income is only around $50,000... is that a bad thing? Will future lenders look poorly on the fact that I could run up over half my income in credit card debt?
I would just use it responsibly and I think you'll be fine. I have more credit than that with less income. As long as you aren't doing risky things with your credit you'll be fine.
Now What?....umm Happy Dance
With great cards come great responsibilities!