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Valued Member
davidsawsparks
Posts: 46
Registered: ‎07-16-2010
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Need advice with usage between 2 CC with different perks

So I have 2 cards coming in the mail. A Best Buy Reward Zone MC(500 CL) and a Citi Platinum Select MC(1000 CL). The Best Buy card has rewards but the Citi card is considered more a prime card and will most likely give me a CLI if I keep using them and paying it off in full each month. Since these are the only 2 cards I have and I'm trying to rebuild by using it constantly for everything in lieu of my debit card and then paying it off... how should I split the usage between them? Do I use the Citi more to build a rapport with them or do I use the BB card to get the rewards while I'm rebuilding? Thanks!



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Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
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Re: Need advice with usage between 2 CC with different perks

What is total amount of monthly expenses you plan to charge?

 

Citi doesn't allow charging more than the CL in a monthly cycle.   HSBC does. 

Valued Member
davidsawsparks
Posts: 46
Registered: ‎07-16-2010
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Re: Need advice with usage between 2 CC with different perks


Wolf3 wrote:

What is total amount of monthly expenses you plan to charge?

 

Citi doesn't allow charging more than the CL in a monthly cycle.   HSBC does. 


Let's say I plan on putting 300 monthly on it. Since both are able to handle that limit... which would be the better choice to use given the circumstance? I wouldn't charge over the CL anyway. The question was basically, which would give me the better benefit in the long run? Rewards or rapport with a prime card company?



Equifax: 705
Transunion: 693
Experian FAKO: 761
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

Re: Need advice with usage between 2 CC with different perks

 


davidsawsparks wrote:

Wolf3 wrote:

What is total amount of monthly expenses you plan to charge?

 

Citi doesn't allow charging more than the CL in a monthly cycle.   HSBC does. 


Let's say I plan on putting 300 monthly on it. Since both are able to handle that limit... which would be the better choice to use given the circumstance? I wouldn't charge over the CL anyway. The question was basically, which would give me the better benefit in the long run? Rewards or rapport with a prime card company?


I would do over $200 for CITI and under $100 for BB.   You need to lay down a history with both during rebuilding.   Since CITI is you long term goal, give them most of your business.  Rewards have no long term benefit, and are pretty small in value compared to building a good credit history.  

 

Valued Member
davidsawsparks
Posts: 46
Registered: ‎07-16-2010
0

Re: Need advice with usage between 2 CC with different perks


Wolf3 wrote:

 


davidsawsparks wrote:

Wolf3 wrote:

What is total amount of monthly expenses you plan to charge?

 

Citi doesn't allow charging more than the CL in a monthly cycle.   HSBC does. 


Let's say I plan on putting 300 monthly on it. Since both are able to handle that limit... which would be the better choice to use given the circumstance? I wouldn't charge over the CL anyway. The question was basically, which would give me the better benefit in the long run? Rewards or rapport with a prime card company?


I would do over $200 for CITI and under $100 for BB.   You need to lay down a history with both during rebuilding.   Since CITI is you long term goal, give them most of your business.  Rewards have no long term benefit, and are pretty small in value compared to building a good credit history.  

 


What if I plan on spending 800 a month? Then would you say I should put 500 on Citi, 300 on BB and then just pay it off before the month is over? I know rewards don't mean much in terms of building good credit history... but since I do a lot of shopping at BB already... I could save quite a bit of money annually by using the reward points gained from every day expenses rather than spending money there.



Equifax: 705
Transunion: 693
Experian FAKO: 761
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

Re: Need advice with usage between 2 CC with different perks

I would  do 400 each

Valued Member
davidsawsparks
Posts: 46
Registered: ‎07-16-2010
0

Re: Need advice with usage between 2 CC with different perks

Thank you for the advice Mr. Wolf :smileyhappy:



Equifax: 705
Transunion: 693
Experian FAKO: 761

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