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More confused than ever!

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hautemama
Regular Contributor

More confused than ever!

I appreciate this forum so much. But it seems like the more info I get, the more confused I get.  So I am trying to build my credit, and get good credit cards.  I have a few sub prime cards that I'm looking to get rid of (Orchard, etc.)  I recently got approved for B o A Bankamericard (rewards program) and AMEX.  A friend told me to use AMEX instead, because better rewards..?  So is the Blue cash the one I should convert to.. (if I plan on spending over 6500).  So what about my poor B of A card?  Should I convert that to a different card.. Which B of A is best?  Thanks so much!
Message 1 of 10
9 REPLIES 9
Anonymous
Not applicable

Re: More confused than ever!

you wiil never great rewards with BOA, most likely 1.25/$1 is the best you'll get, especially if you can convert it into 1.25% hard cold cash, but I wouldn't know
Message 2 of 10
haulingthescoreup
Moderator Emerita

Re: More confused than ever!

BofA might not have great rewards, but they do have generous automatic CLI's.

Why is this an either-or? Why not take both?
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 3 of 10
Anonymous
Not applicable

Re: More confused than ever!



@haulingthescoreup wrote:
BofA might not have great rewards, but they do have generous automatic CLI's.

Why is this an either-or? Why not take both?




EXACTLY! Why not get them both, and wind up with TWO prime cards? Smiley Happy Gosh, I sure would given similar circumstances!
Message 4 of 10
psychic
Moderator Emeritus

Re: More confused than ever!

I also agree that you should take advantage of both cards.
 
The BankAmericard offers "1.25 points per purchase dollar on every purchase, plus an annual points bonus of 25% of your yearly purchases."
 
If this is any help, here's the American Express Blue Cash Calculator. You can estimate how much cash back you might receive--
 


Message Edited by psychic on 02-28-2008 11:41 AM
EQ 814 / TU 815 / EX 842
Message 5 of 10
Anonymous
Not applicable

Re: More confused than ever!

I concur with all of the above posters.  Especially Sylvia.
 
Message 6 of 10
BBYGRL
Established Contributor

Re: More confused than ever!

I agree. Keep both cards.
10/08 - EX 795 / EQ 816 / TU 806
6/09 - EQ 763 / TU 770

Starting Score (2/2010): TU-767, EQ-745
Current Score (2/2010): TU-767, EQ-745
Goal Score (12/2010): TU-780, EQ-790


Take the FICO Fitness Challenge
Message 7 of 10
Anonymous
Not applicable

Re: More confused than ever!



@Anonymous wrote:
I concur with all of the above posters. Especially Sylvia.





For the first time in my life, I am speechless. LOLROTF!
Message 8 of 10
hautemama
Regular Contributor

Re: More confused than ever!

Cool thanks!!  I was considering only one rewards card, because I wanted to make the most out of it instead of using both and not getting the max rewards.  For blue cash, does paying my bills and student loans, etc count towards "general purchases"?
Message 9 of 10
Anonymous
Not applicable

Re: More confused than ever!

Hey if you have been approved for Amex or BOFA, your sub-prime days are long gone!!!!  Congrats!
Message 10 of 10
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