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Coming out of the garden, some advise?

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Anonymous
Not applicable

Coming out of the garden, some advise?

Hi myFico forums, long time no see.  I've been in the garden for a while and I've been avoiding the forums like a plague trying to stay in there.  I got weak and apped for the BoA Premier rewards (I shouldn't have) a few months back, but no new cards in over a year (too much open credit with BoA).

 

I recently closed a couple of accounts and I'm considering closing my SD Capital One QS, but the $20,000 CL is causing me some hesitation. 

 

In any event, we just closed on a house and I find myself in need of a couple new credit cards!  I know one card for certain, the Amazon Prime card for 5% back on my Amazon purchases - the $70 Amazon gift card is a nice bonus.

 

For my second card, I'm looking for a card with a 0% APR for 12+ months with the largest sign up bonus I can find.  No AF is preferred, but waived for year 1 would work too.  I've done some digging and I can't find a card with a decent signup bonus that also has a 0% APR (redoing our floors and plan to put the materials on the card).  The best I've found is the Discover It Miles with the $75 statement credit through Amazon and the Chase FU with the $150 bonus.  I think I'd lean toward the It Miles because the card would have some utility outside of the purchase, but if anyone knows of a card with a better sign up bonus, I'd really appreciate the input.

 

FYI, the Venture card is out, I picked one up 11/16.  The Arrival Plus appears to have gone the way of the dodo.  CSP doesn't seem to have a 0% APR offer.

Message 1 of 9
8 REPLIES 8
QCS123
Established Contributor

Re: Coming out of the garden, some advise?

No idea if this is what you are interested in but my credit union (First Tech Fed) has a credit card with the following:

 

Earn 30,000 Bonus Rewards Points2 when you spend $3,000 in the first 3 months.

3x Points per $1 spent on travel

Introductory 0.00% APR2 balance transfer for 12 months

No balance transfer fee2, no foreign transaction fee2

Premium rewards, benefits, concierge service and security

As low as 12.24% APR

 




Message 2 of 9
Anonymous
Not applicable

Re: Coming out of the garden, some advise?

Thank you for the suggestion, unfortunately First Tech is out of my membership reach.

I'll be a sole proprietor in real estate with the purchase of my home (renting a room, currently renting the home back to the seller), so I'm not seriously looking into the Ink Cash for the $500 bonus and 12 months 0%.

If I'm at 4/24 can I get 2 new chase cards?
Message 3 of 9
Anonymous
Not applicable

Re: Coming out of the garden, some advise?

I've heard that at 4/24 you can get an Ink business card and still be at 4/24, but a Chase rep told me that their business cards do count toward 5/24. So either the business cards will or will not count towards it. In either case your best bet is to app for the Ink Preferred alone first. Then wait however long to apply for another business card and apply for the Ink Cash and a personal card on the same day - I'd suggest the Freedom if you don't have it, as with the Ink Preferred a Sapphire isn't exactly redundant but it loses its core necessity. Apping for the IP first ensures that if the business cards do count to 5/24 that you are "stuck" with a workable single card, but if you apply for the IC first and it turns out the business cards do count to your 5/24, then you're stuck with a cash back only card, and if you apply for a Sapphire first then you're already at 5/24 no matter what.
Message 4 of 9
Gregory1776
Valued Contributor

Re: Coming out of the garden, some advise?

FWIW, Home Depot and Lowe’s credit cards are perfect for putting House expenses on them...catch is it’s exclusive to the store....🙂🙂🙂
AMEX 30k & 8.3k
Discover 27K
Wells Fargo 23k
Chase Amazon 22k
US Bank Cash+ 20K
Plat 14.4K
Citi Simplicity 9.1K
Loan 8K -> 4.4k
Auto Loan 5.9K -> 1.4K



Message 5 of 9
Anonymous
Not applicable

Re: Coming out of the garden, some advise?

You should try AMEX or Discover for BTs
Message 6 of 9
Anonymous
Not applicable

Re: Coming out of the garden, some advise?


@Anonymouswrote:
I've heard that at 4/24 you can get an Ink business card and still be at 4/24, but a Chase rep told me that their business cards do count toward 5/24. So either the business cards will or will not count towards it. In either case your best bet is to app for the Ink Preferred alone first. Then wait however long to apply for another business card and apply for the Ink Cash and a personal card on the same day - I'd suggest the Freedom if you don't have it, as with the Ink Preferred a Sapphire isn't exactly redundant but it loses its core necessity. Apping for the IP first ensures that if the business cards do count to 5/24 that you are "stuck" with a workable single card, but if you apply for the IC first and it turns out the business cards do count to your 5/24, then you're stuck with a cash back only card, and if you apply for a Sapphire first then you're already at 5/24 no matter what.

Thanks for your advise.  I'm actually not too keen on the Ink Preferred, aside from the bonus I have no use for it.  The 80,000 points would be nice, but the categories don't fit my lifestyle.  Similarly with the Sapphire, I may pull the trigger sometime next year (the 4 cards graduate the 24 month requirement by then), but not anytime soon.

 

I'd go with the Ink Cash for the 5% category + the bonus and 0% and the Amazon card for 5% off Amazon.

Message 7 of 9
Anonymous
Not applicable

Re: Coming out of the garden, some advise?


@Gregory1776wrote:
FWIW, Home Depot and Lowe’s credit cards are perfect for putting House expenses on them...catch is it’s exclusive to the store....🙂🙂🙂

Thanks for the advise!  Home Depot doesn't have rewards, but the Lowes 5% is tempting!  I don't know how much I'll need it, I may have the fiancee app for one of those to keep my # of cards down, she needs to start building credit anyways.

Message 8 of 9
Anonymous
Not applicable

Re: Coming out of the garden, some advise?

Thank you, but I'm not really looking to BT, especially if I'd have to ~3% to BT.  I could pay the renos in full if necessary, but I'd rather keep my cash liquid if its free to do so.

Message 9 of 9
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