Card usage

[Anonymous]

So I currently have 5 cards: Cap1 QS and QS1, Merrick Bank Visa, Disco it, and the Amex BCE.

Now from what I been reading my 2 cap1 cards are more then likely in the bucket seeing as I got them at the start of my rebuild journey and won't likely increase CL wise. The Merrick Visa doubles after 7 months. Leaving the Amex and the Disco cards as potential growers.

So here's what I'm thinking would be my best bet on using the TLs I have.

The 2 cap1 cards use them maybe every 2-3 months just to keep them open until I can combine the QS and QS1 together. (QS and QS1 is my oldest cards) Use the merrick card for maybe like a soda or something each month. Then for my normal everyday spending use the Amex and Disco cards since they have the best odds of growing.

Does that seem like a logical plan?

[mikesonthemend]

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@Anonymous wrote:
So I currently have 5 cards: Cap1 QS and QS1, Merrick Bank Visa, Disco it, and the Amex BCE.

Now from what I been reading my 2 cap1 cards are more then likely in the bucket seeing as I got them at the start of my rebuild journey and won't likely increase CL wise. The Merrick Visa doubles after 7 months. Leaving the Amex and the Disco cards as potential growers.

So here's what I'm thinking would be my best bet on using the TLs I have.

The 2 cap1 cards use them maybe every 2-3 months just to keep them open until I can combine the QS and QS1 together. (QS and QS1 is my oldest cards) Use the merrick card for maybe like a soda or something each month. Then for my normal everyday spending use the Amex and Disco cards since they have the best odds of growing.

Does that seem like a logical plan?

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Congrats on your re-build, looks like you are off to a great start!

I am not familiar with Merrick, but if they charge any fees just for the privelage of having a TL with them I would look to close that one. Keeping in mind it may hurt your utilization if you are carrying balances. The same can be said for your QS1 card. I would try to PC it to the Platinum with no annual fee. $39 is $39.

Let the AMEX and DISCO grow and wait on Chase, Citi or some other preium cards.

[Anonymous]

Merrick is a rebuilders dream and oddly very hard for most to let go of...   because they were there when nobody else was, so they obtain a soft spot in the hearts of many, myself included.

For those starting a rebuild, if you can hold off long enough after Merrick starts email or sending offers...  they will eventually offer the NO AF card.  Bonus is that the entire CL is also available for cash advance.  To get Merrick to grow, let them do their double after 6 months or so...  then If you want it to grow run the util up during periods when it does not matter about your score.  They love the util, and will regularly bump you 200 or 300 for it.

as for pumping Disco & Amex with spending, you know it!  Thats the way.  Amex -Use -  PIF - Rinse and repeat.  Boom!!  and they will love you long time too!

[Shooting-For-800]

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@Anonymous wrote:
So I currently have 5 cards: Cap1 QS and QS1, Merrick Bank Visa, Disco it, and the Amex BCE.

Now from what I been reading my 2 cap1 cards are more then likely in the bucket seeing as I got them at the start of my rebuild journey and won't likely increase CL wise. The Merrick Visa doubles after 7 months. Leaving the Amex and the Disco cards as potential growers.

So here's what I'm thinking would be my best bet on using the TLs I have.

The 2 cap1 cards use them maybe every 2-3 months just to keep them open until I can combine the QS and QS1 together. (QS and QS1 is my oldest cards) Use the merrick card for maybe like a soda or something each month. Then for my normal everyday spending use the Amex and Disco cards since they have the best odds of growing.

Does that seem like a logical plan?

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Sure.

Cap One may bucket your card but they do not bucket the client.

My first Cap One card was $3k SL Platinum after starting rebuild,

A year later I was getting $10k SL QuickSilver Visa Siggys,

3 years later I got a Venture Visa Siggy with $30k SL @ 12.99% APR.

I would not write off Cap One, but Discover and Amex are both good choices.

Merrick is great bank for starting rebuild but it will NEVER grow.

Merrick closed my account for not use in 366 days.

I never paid a penny in fees or interest though.

GL!

[Anonymous]

I would definitely put spend through the BCE. In my experience Amex seems to be one of those companies that is very proactive with a CLI if they see you using the account often and paying in full. In my first year I went from $1000 to $12000 with them. That included a 3x auto CLI at around the one year mark.

For Data Points, I usually put between $500-$700 a month through in groceries, plus whatever misc stuff I pick up along the way, and PiF each month.

I don't use my Disco nearly as much, so I can't speak to that, but the CL on that one is enough for my use anyway if I am hinest.

[HeavenOhio]

@Anonymous, I'd run with the five cards you have for the next year or so. The worst thing you have going for you is the QS1 annual fee. I don't think that's a hugely bad thing under your circumstances. Add a year of history to your current deck of cards, and I think you'll be set to hopefully acquire some higher limits.

Use the QS1 every month. These cards are hard to upgrade, but there's evidence that consecutive months of usage might help generate an offer. I was able to PC two QS1s after 12 or 13 consecutive months of usage. Call in each month and check for offers.

QSes can optionally be kept as an older account on one's report. There's no fee, and the card's from a "good" bank. While Merrick is non-predatory, people tend to dump their cards eventually. Using the cards as you have planned is fine.

I think it makes sense to concentrate your spending on your Discover and AMEX cards, although you might want to put some general spend charges in your QS1. Of course, the other cards can serve as backups for when Discover and AMEX aren't accepted.

[Anonymous]

Currently I been dumping spending through the disco, after the 5th of this month im going to switch over and start start using the Amex to go for the sign up bonus. I'm hoping with the disco I'll get a CLI it since all of my spendimg has been going through it. I'll find out on the 5th if I get one or not.