topic Re: Two cards (General Spend, Groceries), then CLIs. Need advice. in Credit Cards

Two cards (General Spend, Groceries), then CLIs. Need advice.

Thorin809 — Mon, 22 Jan 2024 11:40:18 GMT

I'm looking to get two cash back cards: one for general spending and one for groceries.

Annual general spending is about $7000. Annual grocery spending is about $2700.

I'd also like to minimize opening new accounts if possible, unless there is some card that blows everything else out of the water.

I have my current scores/cards listed at the end of the post.

For General spend, I've been looking at 3 cards:

Alliant CU Visa - 2.5% CB, requires checking, direct deposit, and $1000 balance. Has extended warranty protection.
WF Active Cash - 2%, $200 SUB
Bread Cashback AmEx (Comenity) - 2%, no SUB

Despite the lower CB, the WF seems like the superior option due to the SUB and not having a checking account requirement, since those are funds I wouldn't be able to invest. By my calculation, if the market does better than -17% in the first year, the SUB makes up for the losses. If the market does better than 3.7% thereafter, it's still better. Plus it's one less account to balance/keep track of.

I'm leaning towards the WF Active Cash.

For Groceries, I've been looking at 3 cards:

AAA Daily Advantage - 5% Groceries, 3% Wholesale Clubs. $100 SUB
- The 1% bonus to wholesale clubs would get me about $18
Chase Freedom Flex - 5% for Gas/Groceries in first year, rotating categories thereafter. $200 SUB
- 0.75% bonus to Gas (My current card gets 4.25%). That's only about $5.25. So not much of a consideration.
Citi Custom Cash - 5% on highest spend category. $200 SUB
- More flexibility

I'm leaning towards the AAA Daily Advantage due to the Wholesale Clubs CB. But I've heard bad things about Comenity. I just want a card that I can set up autopay and forget about it.

So tldr is WF Active Cash for non-category spend and the AAA Daily Advantage for groceries.

Do these sound like good options? I'd like to apply in the next week or two and then do a CLI at least on the Chase Amazon card, since my other high-utilization cards will be replaced.

Stats:

FICO: 801 (Eq, 9) 826 (Exp, 8), 814 (TU, 8)
New Accounts/Hard Inquiries: 0x24
Utilization: 3% overall
Income: $80k
Annual General Spend: $7000
Annual Groceries Spend: $2700
Annual Gas Spend: $700
Annual Wholesale Clubs Spend: $1800

Current cards:

barclay Rewards (formerly Sallie Mae): $5000
Capital One Quicksilver: $2250, 1.5% everything
Chase Amazon: $5800, 5% Amazon
Discover It: $9000, 5% rotating categories
Elan Max Cash Preferred: $7000, 5% utilities
PenFed Platinum Rewards: $1500, 4.25% gas, 2.55% groceries
USAA Rewards: $14000

Re: Two cards (General Spend, Groceries), then CLIs. Need advice.

Kforce — Mon, 22 Jan 2024 02:18:55 GMT

WF & City Custom Cash. My - 2c

Re: Two cards (General Spend, Groceries), then CLIs. Need advice.

Thorin809 — Mon, 22 Jan 2024 02:46:02 GMT

@Kforce wrote:
WF & City Custom Cash. My - 2c

Thanks. Why the Custom Cash instead of one of the others? Because of the flexibility?

Re: Two cards (General Spend, Groceries), then CLIs. Need advice.

Kforce — Mon, 22 Jan 2024 03:04:36 GMT

@Thorin809 wrote:
@Kforce wrote:
WF & City Custom Cash. My - 2c
Thanks. Why the Custom Cash instead of one of the others? Because of the flexibility?

WF because for you spend the extra half percent is less gain than your $1000 being held hostage.

Citi because of it's flexibility and a better issuer than the AAA. (My opinion)

Many would also like the Chase but I do not like rotators, find them more work less rewarding. (YMMV)

Having a card that you pick the category and keep it every month for long periods is very nice.

Re: Two cards (General Spend, Groceries), then CLIs. Need advice.

1LostArk — Mon, 22 Jan 2024 04:36:20 GMT

Citi DC for general spend, CC for groceries. Make sure to space your apps according to Citi's rules. This sets you up to have two CC's if you desire to optimize more in the future.

Re: Two cards (General Spend, Groceries), then CLIs. Need advice.

ptatohed — Mon, 22 Jan 2024 08:09:31 GMT

You didn't mention it, and it is often overlooked by most, but the upgrade Cash Rewards Elite is 2.2% CB with an easy $200 Welcome Bonus (was $400 when I got it). Turn on EarlyPay / autopay and you pay no interest with this 'non-conventional' credit card. It's a Visa so it will work at CostCo.

https://www.creditkarma.com/creditcard/Upgrade06

For grocery, sure, go for the citi CC (albeit a MasterCard, not for use at CostCo). The AAA is not bad either.

Not sure what you mean by .75% bonus with Chase FF?

Good luck.

Re: Two cards (General Spend, Groceries), then CLIs. Need advice.

Hoben02 — Mon, 22 Jan 2024 14:33:04 GMT

Might look into bofa if you are willing to do more biz with the bank. I'm currently platinum honors and can get 3.5% return on any grocery purchase including Walmart. As for general purchase card I use bofa premium rewards it's a cashback travel card and I can earn up to 3.5% on dining and travel the interesting thing is that the travel category is the widest.

Re: Two cards (General Spend, Groceries), then CLIs. Need advice.

Thorin809 — Tue, 23 Jan 2024 01:11:42 GMT

@ptatohed wrote:
You didn't mention it, and it is often overlooked by most, but the upgrade Cash Rewards Elite is 2.2% CB with an easy $200 Welcome Bonus (was $400 when I got it). Turn on EarlyPay / autopay and you pay no interest with this 'non-conventional' credit card. It's a Visa so it will work at CostCo.

https://www.creditkarma.com/creditcard/Upgrade06

For grocery, sure, go for the citi CC (albeit a MasterCard, not for use at CostCo). The AAA is not bad either.

Not sure what you mean by .75% bonus with Chase FF?

Good luck.

Sorry, thought I replied to this already. I edited the OP to be a little more clear. I get 4.25% on gas, so the bump to 5% for the Chase FF is really only a 0.75% improvement for me.

Re: Two cards (General Spend, Groceries), then CLIs. Need advice.

digitek — Tue, 23 Jan 2024 01:25:56 GMT

US Bank Altitude Reserve is good for groceries and general spend. I use it for both of those categories. That mobile wallet category can be pretty broad. I added Fidelity Visa for a 2% card when I can't use mobile wallet and would recommend that card, too.