Credit card Strategy

Anonymous · ‎07-07-2016

Apologies in advance if this is the wrong section, seems appropriate.

My wife has 2 citi cards a Simplicity and a Diamond preferred card, they are a few years old, zero balances and we don't use them much.

She also has a Chase Freedom card (new and 0% until next year cash back too) we do use this card and have carried a small balance (will be paid off by the end of 0% period). She also has an older Chase card (no cash back, smaller CL)

We intend to replace the boiler in Nov and I'd like to open a new 0% card (for purchases) for the longest period, preferable with cash back.

I'm trying to figure out the best course. New card different bank?

Would Chase give a second Freedom card? Pay the Freedom card off, roll the CL to the second card, open a new Freedom card?

Citi now has 0 % on new Simplicity cards for 21 months? Does Citi allow a second card?

Any suggestions?

RonM21 · ‎07-08-2016

The Citi card with the 21 months was the first thing that came to mind. Not sure if either allow a second card. But I think Citi usually has offers on a few cards at a time for BT's.

Total CL: $321.7k

UTL: 2%

AAoA: 7.0yrs

Baddies: 0

Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping

Anonymous · ‎07-08-2016

What are the limits of your 2 citi cards and freedom card if you don't mind me asking?

Personally...I like to diversified and I like it when banks compete for your business.

Anonymous · ‎07-08-2016

@Anonymous wrote:
What are the limits of your 2 citi cards and freedom card if you don't mind me asking?

Personally...I like to diversified and I like it when banks compete for your business.

Citi: 5 and 7.5 Chase 18 and 3

Anonymous · ‎07-08-2016

@RM21 wrote:
The Citi card with the 21 months was the first thing that came to mind. Not sure if either allow a second card. But I think Citi usually has offers on a few cards at a time for BT's.

This would actually be a new purchase, I'd pay down the open cards before the expiration of the 0%.

I've read where Cap1 allows people to roll an account and CL into another card. If that is the case, I could roll the open Simplicity card into the other and open a new Simplicity. The 21 months at 0% is nice. Oh course the other option would be to go with another bank, I've read that Wells Fargo has a decent 0% card, there has to be others.

Anonymous · ‎07-08-2016

If you are looking for a good cashback card, a few comes to mind. The Citi DC, Quicksilver, Chase unlimited to name a few and of course the Amex bce. If her util % is low, I'm sure she has a great shot at all of them.

Anonymous · ‎07-08-2016

@Anonymous wrote:
If you are looking for a good cashback card, a few comes to mind. The Citi DC, Quicksilver, Chase unlimited to name a few and of course the Amex bce. If her util % is low, I'm sure she has a great shot at all of them.

The Utilization is 3% with scores all at around 800.

New rule in our lives: Except for heating plants and cars, we only buy what we can pay for, the 0% balances are some dental charges.

The Citi DC would be great, but that only has 0% for BT. She has a discover too. I am going to call Citibank and find out about rolling the one car into the other, or just flat out closing the Simplicity now and reapplying in Nov.

Anonymous · ‎07-08-2016

It really depends on how long you need to pay it off. The Wells Fargo Cash Wise card might be good for you. It has 0% APR for 15 months and 1.5% cash back, or there is the bankamericard cash rewards card. Both of those might fit your needs as well.

Anonymous · ‎07-08-2016

Why don't you call up Citi and see if they have any 0% purchase offers for you. Sometimes this works. I know i've done it in the past with a card, I just don't rememberif it was my Citi or Amex and last year I did it on BOA for a BT I called and asked do I have any BT options at 0%, they said yes and I did it over the phone. Unless you want a new card, just giving you another option to go with.

dragontears · ‎07-08-2016

@Anonymous wrote:
@Anonymous wrote:
If you are looking for a good cashback card, a few comes to mind. The Citi DC, Quicksilver, Chase unlimited to name a few and of course the Amex bce. If her util % is low, I'm sure she has a great shot at all of them.
The Utilization is 3% with scores all at around 800.

New rule in our lives: Except for heating plants and cars, we only buy what we can pay for, the 0% balances are some dental charges.

The Citi DC would be great, but that only has 0% for BT. She has a discover too. I am going to call Citibank and find out about rolling the one car into the other, or just flat out closing the Simplicity now and reapplying in Nov.

Discover has been known to give 0% or low APR on purchases if you call and ask. Last time I called they offered me 3.75% APR for a year, the time before that it was 0% or a permenant reduction (I chose the permenant at that time)