@smc733 wrote:Hi all,
So Chase flat out will not budge on moving me to an APR that isn't insane, and I really just don't feel comfortable using a card, only to have that APR over my head if I can't PIF for some reason. (It really, really bothers me).
I was thinking of one of the following two strategies, moving forward:
1. Use just my BofA Visa, keep that and my BofA debit in my wallet, and that's all I need. I'll keep the rest sockdrawered, and my Citi MasterCard at home as my primary backup.
2. Use my BofA Visa for everything, but Discover More for the 5% categories. I wonder if this will stretch me thinner as far as rewards go, I was hoping to just use one card, Chase freedom, for all the points, but that's seeming ever more unlikely with the way Chase is acting.
Terms:
Chase Freedom (4/11) - $6,000/22.9
BofA 1-2-3 (6/10) - $5,000/10.99
Discover More (1/11) - $2,500/15.99
(Also have Citi and Amex BCE)
Thanks in advance everyone!
I like this option. If Chase does not wan't to budge, let them taste the sock for awhile!!
I agree with LS! Send it to the sock drawer.
The limit still helps with utilization and over time they may do a review and find you deserve a better rate.
@smc733 wrote:
@LS2982 wrote:I like this option. If Chase does not wan't to budge, let them taste the sock for awhile!!
That's what I'm thinking. So you think using just BofA over BofA+Discover is a better idea?
I have a feeling Chase will never end up budging about this, tbh. I hear of people indefinitely stuck with high APRs.
I'd make BofA my main go-to card and use discover for the 5% category's every now and then
Chase should budge when they see no usage, otherwise their loss.
@rootpooty wrote:
Sounds like good rewards card comes with a high apr price. Honestly that's a crazy apr. Id hit up bofa for a cli being that your highest is with chase and focus on bofa. Didn't discover more match chase as far as rewards go?
+1
On CLI request for BofA
@smc733 wrote:
@LS2982 wrote:I like this option. If Chase does not wan't to budge, let them taste the sock for awhile!!
That's what I'm thinking. So you think using just BofA over BofA+Discover is a better idea?
I have a feeling Chase will never end up budging about this, tbh. I hear of people indefinitely stuck with high APRs.
I don't know that anyone can tell you what's a better idea. If you want to maximize rewards, you have to spread spend across multiple cards. But the more cards you spread it across, the more complex it gets. So it's always a balancing act depending on your spend patterns and how many cards you feel like juggling. I currently only spread my spend across two cards, but I am thinking of adding a couple more after I buy a house. To me, it's not that problematic to keep track of. I certainly don't think two cards is that difficult, so BoA, plus Discover in the rotating categories seems like a better idea to me. But I can certainly appreciate that you may want it completely streamlined. If you value simplicity that much, then you'd use BoA only. Only you can figure out how much you value that simplicity versus how much it will 'cost' you from not using Discover. And, as I believe you've pointed out before, if you find that you're coming up with reasons to buy things in Discover's categories just to maximize rewards, i.e., overspending compared to what you would normally spend, then that's a good reason to cut an extra card out of the mix as well.
As for Chase, I think you're right. It's a pretty good cashback card with no annual fee. They've got to make their money somewhere.
@smc733 wrote:I'm glad I'm not the only one that thinks Chase is CRAZY with their APR.
Discover and BofA both have grown with me to a degree.
BofA went from 700>1500>2500>3500>5000 since June 2010, and went from 14.24>12.99>10.99
Discover went from 1,500>2,500, and I'm hoping they'll go from 15.99>10.99 soon.
If Chase wants to make some changes, I'll gladly give them a shot, but I suppose it is better anyhow to use more than just 1 card.
BofA is much more willing to grow with you so keep running $$$ through it!