A good companion card to my Barclay Arrival+

[Anonymous]

I apologize in advance if I am asking some ignorant questions as I am very new to the "optimizing my credit" process.  Due to past circumstances, I only have one credit card (The Barclay Arrival+) that I opened in April 2014 primarily because of the sign-up bonus.  Usage-wise, I charge ~$2000 a month and make various payments throughout said month to ensure that I have a very low statement balance (which I then PIF).  In order to maximize the value of my card, I only use my reward miles towards travel expenses.  I am also coming up on the 6th month of ownership so I am hoping for a CLI at that time.  According to the Barclay FICO tool, my credit score is 797.

I understand that one credit card is not optimal so I have been looking at apping for another card (maybe more - you tell me) after the 6th month of Barclay ownership.  Getting another card seems to be a good idea because there will also be some additional spending in my future (vacation, Christmas shopping, new washer/dryer).  These scenarios will make it even easier to reach the spending requirements of many sign-up bonuses.

This leads me to a few questions:

• Am I on the right track by obtaining another card?
• If yes, what is a good companion card to app for?  I have been looking closely at the Chase Sapphire Preferred because of the sign-up bonus.  Reaching the spending requirements will not be a problem based on my upcoming monthly budget.
• Should I be apping for more than one card?

I am very open to all advice and greatly appreciate any help!

[ficobgtx]

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@Anonymous wrote:

I apologize in advance if I am asking some ignorant questions as I am very new to the "optimizing my credit" process.  Due to past circumstances, I only have one credit card (The Barclay Arrival+) that I opened in April 2014 primarily because of the sign-up bonus.  Usage-wise, I charge ~$2000 a month and make various payments throughout said month to ensure that I have a very low statement balance (which I then PIF).  In order to maximize the value of my card, I only use my reward miles towards travel expenses.  I am also coming up on the 6th month of ownership so I am hoping for a CLI at that time.  According to the Barclay FICO tool, my credit score is 797.

I understand that one credit card is not optimal so I have been looking at apping for another card (maybe more - you tell me) after the 6th month of Barclay ownership.  Getting another card seems to be a good idea because there will also be some additional spending in my future (vacation, Christmas shopping, new washer/dryer).  These scenarios will make it even easier to reach the spending requirements of many sign-up bonuses.

This leads me to a few questions:

• Am I on the right track by obtaining another card?
• If yes, what is a good companion card to app for?  I have been looking closely at the Chase Sapphire Preferred because of the sign-up bonus.  Reaching the spending requirements will not be a problem based on my upcoming monthly budget.
• Should I be apping for more than one card?

I am very open to all advice and greatly appreciate any help!

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Sounds like you are on the right track to me.

Only issue with CSP is that will be another annual fee card - personally I would get a CSP and a freedom... Best combination you can get if you like travel, and can also take advantage of freedoms 5% rotating categories. You can then xfer UR points to your CSP where you'll get the most value. Best value is for things like business class on long haul flights. And then PC your arrival + to the no annual fee arrival before the annual fee hits.

if you like to travel, you can't beat that in my opinion.

[heyarrnold]

• Am I on the right track by obtaining another card?
• If yes, what is a good companion card to app for?  I have been looking closely at the Chase Sapphire Preferred because of the sign-up bonus.  Reaching the spending requirements will not be a problem based on my upcoming monthly budget.
• Should I be apping for more than one card?

1) Yes, you're

2) CSP is awesome. I love it. It would complement the Arrival well. You can actually transfer your miles to various partner airlines and hotels. 

3) I have 5 cards, and I use them all. Each one has different perks. They all fit my needs well. I say that if other credit cards fit your profile and provide extra benefits, definitley apply to more than one card.

[Anonymous]

Thank you for the quick reply!  I just googled the Chase Freedom/CSP combo and it definitely looks like a wonderful combo with great synergy.  I am assuming that the correct time to apply would after my 6th month of Barclay ownership (hopefully after a CLI) and that I would apply for the Freedom first and then the CSP right after that.

[heyarrnold]

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@Anonymous wrote:

Thank you for the quick reply!  I just googled the Chase Freedom/CSP combo and it definitely looks like a wonderful combo with great synergy.  I am assuming that the correct time to apply would after my 6th month of Barclay ownership (hopefully after a CLI) and that I would apply for the Freedom first and then the CSP right after that.

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Check the prequal for Chase. If the Freedom and CSP show up, you're golden.