@Toastmaster wrote:Scores are all high 700’s FICO 8’s, one is low 800.
Advice 1: We each want a high limit "pry bar" card so that any card that follows also has a high limit. We both have Navy Federal savings and checking accounts, so we both want to apply with Navy Fed Cash Rewards. This is because Navy has a a reputation for high limits. Do you all agree that this is a good plan?
No I don't.
1. I don't think you should get one card to pry open the door for another.
2. NFCU usually does not give a high limit on the first card.
Advice 2: We need a better Cash Back card. Currently we get 1.5 percent. We want at least 2 percent. 2.5 would be great! So we are looking at the Alliant FCU for 2.5 or Wells Fargo for the 2 percent. Do either of these sound good?
For general spend I think you're better off looking at the 2% cash back cards, than straining yourself fo find 2.5%. E.g. Citi DoubleCash, PenFed Power Cash (if you make direct deposits of $500 more or maintain checking balance of $500 or more), SoFi (if you redeem rewards into a SoFi deposit account).
Advice 3: We need a good Cashback card for Groceries specifically, but Restaurant and Gas would be nice too. I looked into the American Express Blue Cash Preffered card...I figure if we both get the card, we'll have $12,000 a year of eligible grocery spend that will met us 4.4 percent after the annual fee...BUT we just found out that HelloFresh doesn't count as grocery spend anymore...and if that's the case, then a regular 3 percent No Fee grocery card will be better...since we MAY rely more on HelloFresh or even WalMart and won't be able to get that spend amount.
For groceries the Blue Cash Everyday is a good no-annual-fee choice.
Advice 4: Just stick with the Navy Fed Cash Rewards card for awhile and make sure that grows over $20,000 before applying for anything else.
That's fine.
Thank you for your advice!
@Anonymalous wrote:
@Toastmaster wrote:I actually did provide profile information but when I copied and pasted things they were lost. 🤷♂️
Reply to 1: Appreciate the advice, but high limits matter to me. The FNBO Prequal already wants to give each of us $15,000....so of course we want at least that, preferably $20,000 and above
Reply to 2: that's an interesting point. Not really. Our biggest expense literally is Home and food (not even gas anymore, but you never know in the future with these prices..) so this was good insight, rhanks
Reply to 3: We would average about $13,000 grocery spend
Reply to 4: As I mentioned, we're already pre approved for $15K with FNBO and they are conservative. We figure NFCU will give more.
FNBO is known for high limits, particularly on the Evergreen. I wouldn't call them conservative in that regard.
Have you considered the Navy Fed More Rewards? It's very similar to the Savor One, with 3% on dining and groceries, with the main difference being the last 3% category is gas and transit rather than entertainment. The MR is on the AmEx network and has a higher redemption minimum than C1 cards (shouldn't be a problem with your spend), but comes with a solid set of extra card benefits (rental insurance, roadside assistance, no FT or BT fees, etc.). You've already been discussing Navy Fed's high starting limits, and they're very good about increasing the limit as well. So even if you don't get the limit you want, just request a +$8K CLI online or thru the app after 91 days/3 full billing cycles, then every 180/6 thereafter.
Agree with this as far as the MoreRewards Amex, but temper your expectations regarding SLs @Toastmaster, both with Navy and FNBO. Navy is known for being generous, yes, but it's not guaranteed. Not everyone gets high limits out of the gate.
As for FNBO, some people have reported being prequalified for $15k, but then when they go through with the application, they end up being either denied, or approved, but for a much smaller limit. YMMV.
