My salary is 55k, which is not that bad I think. I never requested for cli until this May when I apply for Chase and QS and got instant approvals.
I spend around $200 on gas every month (long commute). That 1% may not be really important but I really do want to have more types of CB in fewer cards. BoA pull HP which I do not really like it, and I may have cashback on Costco and restaurant as well if I have that Citi card.
Just asking, and I really need advice from others as well.
I spend around $200 on gas every month (long commute). That 1% may not be really important but I really do want to have more types of CB in fewer cards. BoA pull HP which I do not really like it, and I may have cashback on Costco and restaurant as well if I have that Citi card.
Just asking, and I really need advice from others as well.
@Anonymous wrote:
My salary is 55k, which is not that bad I think. I never requested for cli until this May when I apply for Chase and QS and got instant approvals.
I spend around $200 on gas every month (long commute). That 1% may not be really important but I really do want to have more types of CB in fewer cards. BoA pull HP which I do not really like it, and I may have cashback on Costco and restaurant as well if I have that Citi card.
Just asking, and I really need advice from others as well.
Well, the question is what you do you want to achieve? Everyone has different goals and different needs.
If you're looking to get higher CLs, then I wouldn't apply for anything else and let the cards you do have grow.
Additionally, you have more than enough cards for optimizing your FICO score.
Sounds like you might want to maximize your CB with as few cards a possible.
First, you do have duplicate rewards systems with your Freedom Unlimited and your QS1, with 1.5% CB. I assume your QS1 has an AF (at $39/year, you'd have to spend at least $2600 in a year to pay for the AF before you see any cash back gains with use of this card).
The Citi Costco Visa isn't a bad card, and there is a possibility to get a SP CLI after having the card for a while. You mentioned spending $200/month on gas. Annually, you'd have a cash back reward of $96 from gas purchases alone (versus $72 using your BoA Cash Rewards at 3% CB), which more than pays your membership (excluding your other rewards of 3% on travel and restaurants, and 2% on Costco - presumably after the 5% Freedom deal expires).
I'd get rid of the QS1 if you can't convert it into a no-fee QS (CapOne gives CLIs that are SP, and can be generous, getting a CLI would most likely require a HP with any of the Chase cards too). I'd keep the CFU, Freedom, and Discover. If you get the Costco Visa, then I'd also get rid of the Cash Rewards. If you were rid of the QS1 and the BoA and in with Costco, that would leave you with 4 cards - CFU for general spend, Freedom/Discover for category spend, and Costco for gas/travel/dining/Costco.
There are other cards out there too, you might want to check out Themanwhocan's CB CC charts (though they do not include Costco) to see if you have other options (thought it may be that the Costco may work best for you).
If you value the UR points more than the straight cash back, I'd get rid of the QS1 and just work the non-category spending onto the Freedom Unlimited. No real need to have two 1.5% cash back cards, to be honest, and some people find the UR points more valuable depending on what you redeem them for.
Edited: looks like my second comment about TMWC's charts is already covered here