topic Re: Help where to go from here? Looking to make a few larger purchases in the next few months in Credit Cards

Help where to go from here? Looking to make a few larger purchases in the next few months

ZR- — Mon, 21 Jan 2019 20:41:27 GMT

Wife and I are going on vacation in march and moving homes / states at the end of April. I figure we will rack up quite a few expenses during this time and I'm considering opening another CC but not sure if there are better longterm benefits over what I'm using now.

Currently we use the following:

Everyday spending / travel / online purchases: CapitalOne Quicksilver World Mastercard (1.5% cashback on anything) 11,000 CL
Dining, Gas and Amazon: Chase Amazon Rewards Visa Signature (2% Dining, 2% Gas, 5% Amazon) 3,500 CL

I don't want to open a new card if I can't use it longterm though as I"d hate for it to sit in the wallet and be forced to use it once a month just to pay it off to keep the account from closing. Any suggestions? We will probably be spending between $4000-5000 USD on a CC by Mid May if it matters for rewards. Not looking to transfer any balances as none are carried over month to month.

Important Info: (based from capitalone free transunion report)
-----------------------
Transunion Score: 754 as of today ( hasn't changed but a few points in months)
Inquiries: 1 in the last 2 years
New Accounts: 2 in the last 2 years
Utilization: 3%

Re: Help where to go from here? Looking to make a few larger purchases in the next few months

simplynoir — Mon, 21 Jan 2019 20:57:26 GMT

Are you looking for cash rewards or points for this possible new card? I ask this because as far as I can see and from what you're telling us you like to minimize the number of cards to have. And other than perhaps a travel card per say to I don't see much improvement on what you can get that you will want to see continued use on (maybe a 2% card like Paypal/DC but that leaves QS in the dust and gains are perhaps minimal) unless you want to delve into points.

Re: Help where to go from here? Looking to make a few larger purchases in the next few months

Anonymous — Mon, 21 Jan 2019 21:05:28 GMT

Don’t use Capital One’s score, it’s Vantage, not FICO.

You can definitely do better than you’re doing right now - the PayPal cashback MasterCard is a nice simple 2% cash back on everything card and Synchrony would likely issue you a high limit if your TU is high enough (my TU FICO8 was 706 when I got approved for $8K on my PayPal card and I’m low income).

Definitely get your FICO scores though. You can get Experian’s free from the Experian app. You can get all 3 with a free trial of CreditWorks Premium - get the Experian app and hit scores, tap on Equifax or Transunion and it will give you the option to get a 7 day free trial.

Your FICO can be wildly different from your VantageScore so we will need that first.