@Anonymous wrote:
With 720 credit and very low usage what direction would you guys go?
What we woud do doesn't matter and the info you've provided really doesn't help us to narrow down the options. Selecting a card is always about finding what best fits an individual's needs/wants and you'll need to give us a lot more information in order to give you meaningful recommendations. Remember that it's never just about score but if you want, you can refer to the Credit Pulls Database. Usage isn't a useful criterion.
@Anonymous wrote:
But daily expenses, gas, groceries, etc. I just use my debit card for because part of me is still fearful of having a CC balance. I am definitely not getting the full benefits of the card yet.
You don't need to be afraid. If you have high revolving utilization one cycle it's generally no big deal. You just don't want to have high revolving utilization for a prologned period of time. You can always pay prior to report date to reduce the report balance and utilization.
If you want to maximize rewards you really need to run all possible spend through your cards. You also need to select cards that maximize rewards on your spend. Start with your major spend categories to see if you have them covered. If you're willing to share your major spend categories and the volumes you run through them we can use that to help you with recommendations. Also tell us how much of your spend is non-category so we can determine if a 1.5/2% cash back card may be of benefit for your non-category spend.
@Anonymous wrote:
I have yet to see a card with an annual fee that the rewards, in my opinion, outweigh paying for the privilege to spend money. =}
Make sure you're actually running the numbers for your spend and considering total cost/benefit. Don't just look at the AF. My biggest rewards come from cards with AF's. Granted, YMMV. For one thing, I'm focused on accruing UR points so the Freedom is another source for 5x UR points on spend. However, Discover has its benefits including things like 10% on Apple Pay and Double Cash Back that I find useful.
In short, determine your priorities and needs/wants and use that to select cards. If rewards are a primary driver then run spend through your cards and find cards that maximize rewards on your spend.
@Anonymous wrote:
I thought of Chase Freedom, but that's essentially the same card as the IT.
They're both quarterly rotators with 5% on category spend so they're similar but not identical. The calendars can change from year to year but take a look and see if there's too much overlap or enough difference for you. I find both to be useful but YMMV.
That said, you may want to find non-rotators for your biggest spend categories so you can maximize rewards on that category year round versus just one quarter of the year with a $1,500 cap.
@Anonymous wrote:
and I'd also like another year of 0%APR.
If you're carrying balances you'll definitely want to get in the habit of paying every statement balance in full. Make sure you're working on your budget and sticking to it or long term progress will be impossible.
