Double Cash, Better Balance Rewards or It?

[IFtkkdx428]

Yes, I'm thinking of adding another cash back card to the mix. I'm looking for suggestions, both of weather I should get another card or keep gardening. I'm not sure if the following cards are worth getting. I'm also open to other suggestions in regards to other cards, however they must be cash back. I have also added spending provided by Credit Karma and some other helpful information below. Thank you, in advance!

Citi Double Cash: I already have the Capital One Quicksilver One (AF waived lifetime). However, I'm deciding weather .5% extra cash back is worth getting? FTF is nothing I'm worried about, because I don't travel outside of the U.S. The points redemption threshold is also not a concern because I typically wait to use Quicksilver One's cash back until I have $25 or more. However, if I had both the Quicksilver One would no longer be used and it would have a reoccurring charge along with being placed in the sock drawer. I'm pre-qualified for the Double Cash.

Bank of America Better Balance Rewards: Part of me feels guilty for wanting this card. It would be immediately put in the sock drawer upon activation along with a reoccurring charge. I wouldn't open a Bank of America account for the extra $20. I'm pre-qualified for the Better Balance Rewards.

Discover It: This might sound crazy, but I think it would be great to have a Discover It to work along side the Chase Freedom. However, I must admit that I'm a little bad about remembering the quarterly rewards category. For example, I caught myself using Huntington Voice's 3% restaurant category when I have the Chase Freedom at 5% restaurants. Perhaps I could better plan this, but then it goes back to the fact that I'm bad about remembering rotating categories. I know that sometimes Discover It and Chase Freedom's categories overlap, but this year Discover's movie theater category this quarter and department stores next quarter could have been a benefit. I'm pre-qualified for the It.

Spending according to Credit Karma

Gasoline/Fuel: 29.04%
Groceries:14.19%
Uncategorized: 14.14%
Automotive Expenses: 10.92%
Clothing/Shoes: 10.40%
Restaurants/Dining: 7.00%
General Merchandise: 5.41%
Insurance: 3.67%
Travel: 1.54%
Healthcare/Medical: 1.24%
Gifts: 1.06%
Online Services : < 1%
Home Maintenance: < 1%
Office Supplies: < 1%

Helpful Information

Age: 23
Annual Income: $19,000.00

Monthly Rent/Mortgage Payment: $0

TU FAKO (Provided by Credit Karma on 5/15/15): 758
EQ FAKO (Provided by Credit Karma on 5/15/15): 759
TU FICO (Provided by Barclay on 4/13/15): 740

Credit Card Utilization Rate: 3%

Percent of On Time Payments: 100%
On Time Payments: 61
Total Payments: 61
AAoA: 1 YR 1 MO
Oldest Open Credit Line: 2 YRS 3 MOS
Newest Open Credit Line: 5 MOS

Total Accounts: 5
Hard Credit Inquiries: 4
Derogatory Marks: 0



Current Credit Cards



Capital One
 Quicksilver One
Credit Limit: $2,250
Card issued: Jan/2013


Credit Card Utilization Rate: <1%

Chase Freedom

Credit Limit: $3,000

Card Issued: Jan/2014
Credit Card Utilization Rate: 0%

Sallie Mae Barclaycard
Credit Limit: $2,000
Card Issued: July/2014
Credit Card Utilization Rate: 15%

American Express Blue Cash Everyday
Credit Limit: $9,000
Card Issued: Nov/2014
Credit Card Utilization Rate: <1%

Huntington Voice
Credit Limit: $1,500
Card Issued: Nov/2014
Credit Card Utilization Rate: 0%

[icyhot]

Well, from what I've read BofA and Discover's prequals are kinda useless, but with your scores you shouldn't have any reason to not be approved. If you don't think you're gonna remember the rotating categories then don't get the It. That's pretty much what its good for. Lol but if you do and you know you'll keep track of it then by all means. If you're not gonna use the BBR don't get it. Its a BT card after all. I would say the DC since its a flat 2% card. I would say the BofA Cash since most of your spend is gas and groceries, but your Amex should have those covered.

[Kostya1992]

Sounds like a question of the .5% extra from DC vs. the $100 from BBR yearly. I feel no guilt for exploiting banks to my best personal benefits, outside of defaulting obviously. Just look at all the stuff they do all the time http://www.usatoday.com/story/money/2015/05/20/billions-in-bank-fx-settlements/27638443/

[Anonymous]

For many years all I ever had was a MC and AMEX. I used to think Discover wasn't really a great credit card option. Well, after thinking like this for like 40 years, I finally got the Discover IT in January, and you know what...it's my favorite of all the cards I apped for this year. I've been using it daily at work because our cafeteria at work reports purchases as a restaurant, therefore I'm getting the 5%. I'll be lost w/o that after June. Their CS is awesome and can't forget, they're most gracious with CLI lately.

[JSS3]

All 3 of them.

[myjourney]

Where are you pre-quailified for the IT? 

I hope it isn't based on the CK findings? Read top right hand corner of CK approval card for you (disclaimer)

Also hope it's not Discover website ...If so go back and enter the following info 

First name: Discover 

Last name: It

Last 4 SS#: 9999

And congrats you'll have an offer Mr or Mrs Discover It....

[IFtkkdx428]

---

@icyhot wrote:

Well, from what I've read BofA and Discover's prequals are kinda useless, but with your scores you shouldn't have any reason to not be approved. If you don't think you're gonna remember the rotating categories then don't get the It. That's pretty much what its good for. Lol but if you do and you know you'll keep track of it then by all means. If you're not gonna use the BBR don't get it. Its a BT card after all. I would say the DC since its a flat 2% card. I would say the BofA Cash since most of your spend is gas and groceries, but your Amex should have those covered.

---

I'm certainly making an effort to be better about taking full advantage of the Chase Freedom's rotating categories. Actually, the Bank of America Cash Rewards would be useless in this situation. I get 5% on gas and groceries with the Barclay Sallie Mae which beats Cash Rewards with 3% for gas and 2% for groceries. Then of course the 1% on everything else is beaten by Capital One Quicksilver One's 1.5%. 

---

@Kostya1992 wrote:

Sounds like a question of the .5% extra from DC vs. the $100 from BBR yearly. I feel no guilt for exploiting banks to my best personal benefits, outside of defaulting obviously. Just look at all the stuff they do all the time http://www.usatoday.com/story/money/2015/05/20/billions-in-bank-fx-settlements/27638443/

---

I'm slightly offended by this post because I do work for a bank, however we can set our differences aside. It's not taking advantage of their rewards, that's the problem. It's the use of a hard pull or AAoA being brought done for a card that would be sock drawered for a $100 reward that causes guilt. If there wasn't such a thing as hard pulls or AAoA's then you bet I would collect 100's of Better Balance Rewards cards.

---

@Vulcan1600 wrote:

For many years all I ever had was a MC and AMEX. I used to think Discover wasn't really a great credit card option. Well, after thinking like this for like 40 years, I finally got the Discover IT in January, and you know what...it's my favorite of all the cards I apped for this year. I've been using it daily at work because our cafeteria at work reports purchases as a restaurant, therefore I'm getting the 5%. I'll be lost w/o that after June. Their CS is awesome and can't forget, they're most gracious with CLI lately.

---

So, since you have both the Freedom and Discover It. Do you feel they're both worth having together? Thank you for sharing your experience. 

---

@JSS3 wrote:
All 3 of them.

---

 I would, however I don't feel comfortable applying for 3 cards at once. I know I applied for 2 at once last Nov., though I would only like one right now if I decide upon one. Five cards is manageable currently, but I'm seeing each card is more to keep track of. I'd feel comfortable with one more for the time being, but not 3 more until I feel I can handle the responsibility. It's more about keeping track of paying on time more than trusting myself with more credit. I hope this makes sense and you understand!

---

@myjourney wrote:

Where are you pre-quailified for the IT? 

I hope it isn't based on the CK findings? Read top right hand corner of CK approval card for you (disclaimer)

Also hope it's not Discover website ...If so go back and enter the following info 

First name: Discover 

Last name: It

Last 4 SS#: 9999

And congrats you'll have an offer Mr or Mrs Discover It....

---

I'm pre-qualified via Discover's website. It's not based on Credit Karma findings, I know better than to trust these. I won't do that, but I believe you when it comes to entering in the above information. I know pre-qualified offers hold little to no weight when it comes to most lenders. 

[myjourney]

@myjourney wrote:

Where are you pre-quailified for the IT? 

I hope it isn't based on the CK findings? Read top right hand corner of CK approval card for you (disclaimer)

Also hope it's not Discover website ...If so go back and enter the following info 

First name: Discover 

Last name: It

Last 4 SS#: 9999

And congrats you'll have an offer Mr or Mrs Discover It....

---

I'm pre-qualified via Discover's website. It's not based on Credit Karma findings, I know better than to trust these. I won't do that, but I believe you when it comes to entering in the above information. I know pre-qualified offers hold little to no weight when it comes to most lenders. 

__________________________________________________________________________________________________________________________________________________IMHO I would sit tight and grow the SM card which would fit your spending and offer good cashback 

[Anonymous]

IMO go ahead and get the BBR AND the DC.  I like double cash because of it being 2% all day every day.  And if you go ahead and get the BBR in 12 months the inquiry will not matter any more and being as young as you are your AAOA will not take a MASSIVE dip that can't be made up within that year for the most part as well.

[Anonymous]

@IFtkkdx428: Just a small note on the part where you mentioned having a little bit of trouble remembering which rewards card to use. A lot of people have mentioned at one time or another on these forums the great Wallaby app. It should tell you when you're at a store/restaurant/gas station/etc., which of your rewards cards is the best to use. I recently downloaded it but then realized I don't have enough different rewards cards yet to not know when to use which one, hehe.