@Outbackexplorer wrote:Hopefully this is the right section to post this!
I'm interested in picking up my third card soon, but I'm having some trouble picking, and also wondering how long to wait to apply. Would apperciate any advice or suggestions since I'm a bit indecisive. Currently thinking of applying around the 6 months mark after I got my last card, so I'll be 0/6.
As for the cards I'm considering I've narrowed it down to 4 main candidates but I'm open to any advice for others that might be better. Here's the cards and my current thinking for them
1. BoA CCR: Importantly as for all of these it's a Visa. Atm I only have Amex and Discover, and I've ran into some places that don't take them online so I'm forced to use my debit card. I also found out I have a Costco that's not too far of a drive that I might sometimes purchase from so Visa is an extra bonus, though I won't be doing big spend there. I don't have nearly enough to get the boosted rates for platnium or anything like that. At first glance this has complete overlap with my Amex Blue Cash Everyday. However unfortunately Amex online category doesn't code nearly as broadly as the CCR seems to. I have a really expensive internet bill of around $160 a month that it doesn't catch that the CCR apparently will. I also play some sweeps caisnos and put a few hundred a month in them typicall, and I heard those sometimes gets coded as online by the CCR. There's other edge stuff too, I'd say the majority of money I spend is online in some way or another. Has an FTF, I travel extremely rarely so not the hugest of deals, but I do sometimes make online purchases which I think may code as foreign transactions. Good sign up offer of $200.
2. Krogers series of cards: Mastercard. 5% mobile wallet is *really* nice as a catch all for any physical spend. Yearly limit on the amount is low, but my income is also quite low so it's not as big of a deal. 3% on dining is a small upgrade over my Discover IT, though there are better options for long term. No FTF which is a nice bonus for certain online purchases, or on the very rare occasion where I do travel. Low sign up offer of only $100 though, I feel like it would take a long time to make up the difference between the extra $100 with the 3% boost over a 2% card which is the main thing holding me back.
3. Fidelity card: Visa card 2% catch all always nice to have, very easy to use. I plan to use Fidelity in general as my main hub, so opening the account isn't a big deal at all, it's sort of more convenient. No FTF which is great. $150 sign up bonus, not the best but not bad, though it would probably take a long time to make up the extra $50 offered by other 2% cards, even with the occasional foreign transcation thrown in. I also hear Elan isn't the best to work with.
4. Wells Fargo Active Cash: Another 2% card. Main difference with Fidelity is the higher SUB, $200. Has an FTF. Has cell phone insurance, I'm on a family plan and not the primary one paying, but I could switch it over to my name if I really wanted to, but I usually take good care of my phone so probably wouldn't bother.
There's other 2% cards I know, but none of them really seem to stand out too much to me, though maybe I'm missing something. Also is there anything missing in terms of like, are any of these issuers more likely to accept or give higher credit limits to younger profiles/lower income like I am, or be less sensitive to 1/12? Something like that could effect my choice. Also open to any other suggestions that make sense for my situation that I may not be considering.
Sorry for the long read, below is a template I got from elsewhere and filled in with my info that might have more useful info for suggesting cards:
* Current credit cards: Discover It $1800 limit, 03/2023, Amex Blue Cash Everyday $1000 limit, opened 02/2024
* FICO Scores: All 3 around ~750
* Oldest credit card account age with you as primary name on the account: 1 year, 4 months
* Number of personal credit cards approved for in the past 6 months: 1
* Number of personal credit cards approved for in the past 12 months: 1
* Number of personal credit cards approved for in the past 24 months: 2
* Annual income $: ~25000* Estimated average monthly spend:
* Dining $: 150-200
* Groceries $: 50-100
* Gas $: 0
* Travel $: 0
* Do you plan on using this card abroad for a significant length of time ?: no
* Any other significant, regular credit card spend you didn't include above?: Sweeps Casinos (often coded as entertainment): $300* Random misc online/offline purchases: $~200 (highly variable)
* Monthly Internet bill: $160
Since you don't spend much, I don't see why you're (a) bothering with getting another card, and (b) focusing on rewards cards. Why not just take care of the credit you've got and let your scores keep going up?
If you're going to get another card, why not get something different, such as (a) a low interest, no cash advance fee, no balance transfer fee, credit union platinum card, or (b) a travel card so that you can save up points or miles for trips.
@Outbackexplorer wrote:@ southjamaica (sorry don't know how to quote yet)
Well getting another card makes sense, getting them while my credit history is still young means if I have to close an early card later on it won't effect my AAoA much in the long run. Also since I don't have much spend/income, the bonus amounts I can earn are more signifigant to me. My scores are around 750, as far as I understand it going much higher than that is more for bragging rights than anything, I'm not getting a morgatge anytime soon so what's the point of my credit if I'm not actually using it?
I don't see much point in getting a low interest or balance transfer card because I don't intend on ever carrying a balance.
I'm not actually *entirely* opposed to getting a travel card, but I travel really rarely, it's been more than 5 years since I stayed at a hotel or took a flight. And when I do stay at a hotel or fly, I opt for whatever's cheapest. I do intend to take a trip in 2-3 years that'll be international, and if I like it I might fly there every couple years after, but if I don't I'll probably go back to non travel. Any card I got specifically for travel would have to let me use part of the rewards points as a discount rather than having to have the points cover the entire cost of the flight, since there's little chance I'll get enough reward points to cover a long international flight anytime soon.
Thank you for the suggestions though
Most welcome.
The way to quote is to hit the "quote" button above the screen where the text goes.