Do I need a new CC?

[fiske370]

Current Cards:

Discover More- $3,500 CL

BOA Cash Rewards- $1,500 CL

Income- $40K

I have the 2 cards mentioned above, PIF every month. I use the BOA cash rewards card for gas and Discover for everything else. The BOA card was opened within the last 3 months and I also have a car lease opened within the last 6 months.

I would like to increase my total credit limit, but I am going to wait until a year has passed after taking my car lease, as I want to minimize harmful effects to my credit score. I would not want to use more than 1 HP. Would you recommend trying for a CLI on one of my existing cards, or applying for a new card? Are there any new cards that would give me different rewards than I'm currently getting, where it would make sense to have a third card? (I'm not very interested in mileage rewards at this time as I travel about twice a year but not consistently enough to warrant putting all of my purchases towards travel rewards).

[BearsAndTurtlesRtheBest]

Have you thought to PC your More to Discover IT?

[BearsAndTurtlesRtheBest]

Chase freedom is the same as discover in rewards, they also have different categories from which you can earn 5% cash back every 3 months. 

[fiske370]

BearsAndTurtles,

I have thought about doing a PC from Discover More to Discover It, but the rewards are so similar that I'm in no rush to call and do it. IDo you know if there is any benefit in terms of CLI, etc?

[BearsAndTurtlesRtheBest]

With Discover it? or Chase freedom?

[longtimelurker]

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@BearsAndTurtlesRtheBest wrote:

Chase freedom is the same as discover in rewards, they also have different categories from which you can earn 5% cash back every 3 months. 

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Yes, but with the major difference that Freedom gives UR points, which, once you have the CSP/Ink, allows you to transfer to partners, making them more valuable.

[09Lexie]

If you just want to increase your CLI, then keep the cards you have and ask for a CLI. If you are looking for additional rewards and higher CLI -non travel related-you might want to consider Amex BCP, US Bank Cash +, SallieMae, Fid Amex

[red259]

Chase freedom is a good card and has no AF. What is your AAOAs? How long have you had your discover card? How many inqs do you have? Depending on a number of factors maybe an amex blue would be good for cashback on groceries and such. 

[BearsAndTurtlesRtheBest]

@Longtimelurker hmm very ture,, so then OP like lexie said in terms of CLI Chase isnt very good with them and AMEX BCE gives you chance of 3x cli in 61 days.

[koalablue]

I'd go for the Amex BCP as opposed to the BCE.  I think you get a 150.00 sign up bonus, so that would pay the 75.00 annual fee for two years.  Also, you get 6% back on groceries, 3% back on gas & dept. stores and 1% on everything else.  You really can't beat the cash back on this card.