topic Re: Personal Future CC Strategy in Credit Cards

Personal Future CC Strategy

gercredit — Sat, 08 Nov 2014 15:06:52 GMT

Hi guys,

I need some advice for my future CC strategy, I hope you can help me. I hope to be as precise with my situation as possible, when you got further questions let me know.

I am currently using only CB cards, they are all tailored to my usage and I have to say I am happy. Here my CCs, limits, Opening Date and main usage:

Amex BCP 6.000 (Groceries and Gas in non-Quarter of Discover) 04/2014
Discover 3.500 (Bonus Quarter) 03/2014
Amazon Visa 1.400 (Amazon, Dining Out) 04/2014
Cap QS1 500 (credit steps, everything else) 07/2014

I had a Cap1 Secured but closed that after I got the QS1.

My credit profile looks like that:

AAoA 7-8 Months
TU Fico 680

Now my question. I am currently having a pre-approval (Online) for the Chase Freedom and the CSP.

I am definitely planning on getting the Freedom latest January 2015 because of the Bonus Categories (currently shopping is covered by Discover).

But the big question for me is the CSP. I got the offer with the 40k UR bonus.

I have to say that I am travelling a lot, but I do 90% of my travel through Expedia (btw, I dont like the Expedia+ Voyager). I get 5% Cashback through ShopDiscover when doing Hotel+Flight via Expedia, so thats a sweet deal for me. I am spending roughly 10k on private travels and roughly 4k on company travels.

Do you think that the CSP would make sense for me?

If going for the CSP, which categories would you spend on it (I was thinking dining and travel, everything else stays on my other cards - for bonus of course the Freedom categories). I know that the first year fee is waved so basically no danger, I just wanted to know if you think in the long it makes sense and how you would use it.

Thanks,

gercredit

Re: Personal Future CC Strategy

csryang — Sat, 08 Nov 2014 18:24:38 GMT

Chase might not approve you two chase cards at the same time. They might but just in case, you should apply for the one that you want the most first - Maybe CSP since you travel quite a lot? If you are approved for CSP, you can go ahead and try Freedom.

Definitely spend dining and travel on CSP. For non-bonus spend, try to spend on either QS1 (1.5% cash back) or CSP (1.07 UR point per $1 spend which is at least more than 1.5% depending on how you utilize UR points). You can use Freedom for non-bonus spend if you have chase checking account since you get 1.1 UR point per $1 spend on Freedom in that case.

Re: Personal Future CC Strategy

gercredit — Sat, 08 Nov 2014 21:32:29 GMT

Thanks, so you would recommend in going the CSP route and basically not use the other cards (beside Freedom) any more?

I would plan to use the points for the UR flights (with the 20% off).

Any other opinions or recommendations? I am bit afraid in losing the other cards CB or that the other cards CB is superior to the CSP overall.

Re: Personal Future CC Strategy

Anonymous — Sun, 09 Nov 2014 00:49:19 GMT

Chase went all in with me on the United Plus Explorer and then denied me for Freedom stating I had a new account with them. They gave me $9k on the United Card. I would pick one Chase card and app for it then leave it alone. You already have a discover so I would go with the Csp.

Re: Personal Future CC Strategy

Anonymous — Sun, 09 Nov 2014 00:49:45 GMT

Freedom and Discover are not all that different.

Re: Personal Future CC Strategy

gercredit — Sun, 09 Nov 2014 01:24:01 GMT

They are similar true, but Freedom would fit in the CB strategy, CSP would be a completely different horse... Still undecided, but thanks so far.