09-24-2013 05:29 PM
The Blue Cash Preferred has $150 cash back after you spend $1000 in the first three months. It has an AF of $75. The grocery store rewards are 6% cash back.
The Blue Cash Everyday has $100 cash back after you spend $1000 in the first three months. It has an AF of $0. The grocery store rewards are 3% cash back.
If you don't buy a lot of groceries the BCE is the card for you, if you buy a lot of groceries the BCP is the card for you.
You should add two cards this year and two cards next year to build a wide and deep base for your credit future. You are still young and having 6 to 8 credit cards will keep your AAoA high when you apply for needed credit throughout your life.
You said you already had the Discover card so I would suggest a Bank of America 1-2-3 Rewards card as an alternative. It is another card with a good rewards program.
09-24-2013 05:48 PM
09-25-2013 06:18 AM
09-25-2013 07:55 PM
I applied for the BCE last night and was instantly approved with a $7000 limit. Not too bad id say. Now I just have to wait for the card!
Congratulations! Way to go! Awesome CL!
American Express is fast in getting the cards out. You might have it by tomorrow, Friday at the latest. After 61 days call for a 3x CLI and I bet you get it.
Go for the Bank of America 1-2-3 Rewards credit card. You need to build your credit foundation for the future. You want it wide and deep so that other credit applications won't knock your scores down later.
You can do it!