EDITED: Should I app for another bank/store card to learn how to build up Miles/Rewards?

[Brooklyn2018]

EDITED to change title.


Hi Everyone!😊

I have 3 cc’s:

Cap1(Secured) $7.18/$200
Discover(Secured) $0/$200
Fingerhut $0/$500

AU
Cap1 $51/$500

My scores have come up since I started my rebuild last year in March/2018. Although, I’m in NO HURRY to app soon but, I was wondering when scores DO get better...Which card to try?

I want to just focus on a card that has CashBack/rewards so, I can take my time learning how to COLLECT/REDEEM points/rewards with that card before I begin to tackle multiple rewards cards in the future. Should it be a ‘bank?’ OR “store?” card?

Anyone have some good starter cards for a Rewards Beginner?? Again, I’m in NO HURRY to app but, in say, 6-8 months(?) I’ll probably be wanting to pull the trigger(if scores can reach 660+?)

Thanks!👍

[pinkandgrey]

“Churning” isn’t really a good thing honestly, and many banks frown on it. In 6-8 months, check the Amex prequals. They have a range of great cashback cards you could get. But fair warning: Amex does NOT like churning. 

[Brian_Earl_Spilner]

You can't churn store cards, they churn you. Friggin Kohl's and their timelines to use Kohl's cash....

Start with the cash back ones. Use that cash to churn bank accounts.

[Brooklyn2018]

Right! I like the whole churn bank accounts thing, Brian👍

Thanks, Pink. I read a few old posts about churning but, didn’t realize there could be repercussions😯.

Amex, huh? Don’t tell Remedios...😂😉

Ok. So, churning is not a good idea. Cool. Glad I asked. Thanks, guy’s.👍

Anyone else have maybe other suggestions that might fit my senecio?

Thanks

[ChargedUp]

Churning is kind of a taboo subject on the forums here, and not encouraged. Most lenders are getting really stringent with the details when it comes to receiving SUB's nowadays for this reason.

As far as teaching you to maximize rewards, we would need to know where you tend to spend heavy. If you simply want cash back, there's a handful of cards that provide 2% back on every purchase. The Paypal Rewards MC or Citi's Double Cash would be decent starters for that. You show that you have a Cap One secured card. Once that graduates, you should be able to PC that to Quicksilver which would give you 1.5% cash back. There are cards that provide 5% revolving categories like Chase Freedom and Discover, but only 1% on off category spend.

If you want to get into the travel rewards game, it gets a little more involved... But using the "points" correctly can net you more value than cash back when redeemed a certain way.

[UncleB]

FYI, churning isn't taboo here; discussions on churning are fine, although there will obviously be various opinions on how wise it is in any given situation.

What is taboo here is MS, or manufactured spending - those discussions must take place somewhere else.

[ChargedUp]

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@UncleB wrote:

FYI, churning isn't taboo here; discussions on churning are fine, although there will obviously be various opinions on how wise it is in any given situation.

What is taboo here is MS, or manufactured spending - those discussions must take place somewhere else.

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My bad, I thought MS/Churning were similarly looked down upon here... (maybe as they go hand in hand a lot?)

[Brooklyn2018]

I apologize for the way I phrased that question. Sorry, Guy’s.

I’m not a sneaky kind of person or one of a malice mind. I guess what I should have asked is what I EDITED in the title. I just want to get some great advice on some cards FOR Beginners that want to get some experience collecting? Redeeming? Or however it is called?
I apologize again for that.

...and...maybe redeeming and miles and points won’t be for ME?! I may not enjoy keeping up with this category and that category or whatever it may be? But, I was just inquiring about the possibility of that being my next card(?) I read so many getting free TRIPS and THINGS and I thought maybe I’d like to test it out and see if we’re something I’d be interested in...

...and that is why I edited my tilte so, NOT to include “churning.” Sorry for the confusion😔

[Brian_Earl_Spilner]

Churning is like those timeshare giveaways. You sign up and jump through their hoops. If the product works for you, keep it, otherwise, take your gift and go.

You just need to know the rules. Like, if you get a sub from Chase and close the card, you won't be eligible for a sub on that card for 2 years. You have to keep an Amex open for 12 months before closing, the sub is once per lifetime per product, so make it count, and if you do it too many times, you may be blocked from all subs in the future.

[CreditInspired]

So the first thing, of course, is increasing your scores so your CLs are not toy limits. Since SUBS are usually ~$200-500 with ~$2K-$5K spend in 90 days, you would have a very difficult time reaching the spend, and especially so if the CL is not at least $2K.

Cashback cards with a minimum of 1.5% is good because it’s truly cash back and straightforward—no statement credits, no rewards to fiddle-faddle with.

Do you have any military affiliation or relationship? If yes, join NFCU. Now granted the redemption is higher on the goRewards card ($50) but the cashRewards card is immediate (as soon as the purchase is posted).

CitiDC is 2% cashback (1% when you purchase, 1% when you pay). The minimum redemption is $25. The first and only time I did it they sent a check. I hope now it can be transferred to your checking account. I stopped using CitiDC that much because of these two reasons.

Also, don’t get any card with an AF because if you’re not spending a lot, the rewards you do get will be negated.

If for some reason you’re in toy limit hell for longer than you thought possible—something I wouldn’t wish on my worse enemy—you could apply for Chase AARP (no it’s not just for old people😂), their SUB is $100 for a $500 spend.

GL2U