@LawStudentCivilis wrote:
@jenn_bar wrote:
@LawStudentCivilis wrote:If I apply for an Amex it will for sure be within the next month. So if I do apply for an AMEX, My cards will be: Chase Freedom, Cap One CW, Dillard's Amex, and AMEX?? Good point about them aging in a few years. My last worry is I just opened the Cap One to balance off my last Chase card that I closed and if I open another AMEX it will drag down the overall age of my accounts. Sigh decisions decisions.
Honestly, the way I look at is from the viewpoint of the future. I never plan to really utililize these cards in general plus none of them have tremendous signing bonuses like the CSP that I received last month. I want them for the purpose of extending my CL, therefore increasing my score within the next three years. Granted, when I travel, I'm going to try as best I can to stay at a Hyatt and retain points for the way future, but my goal is not to change my credit lifestyle as it is right now.
I will not touch anything for a few years after I apply for the Amex and Hyatt Chase. I'm super frugal as it is, so this all scares me a bit, but I know it will be worth it when I need a mortgage or a car loan in 2+ years.
Seems like we have the same worries and habits. It's great talking with someone with the same concerns. I haven't found a travel card that is helpful to me just yet, because I have no allegiance to one place, I usually like the best deals. Most travel cards have an AF and that turns me off to them.
That is totally true; however, I'm making an allegiance today! Haha no, but really I've chosen Hyatt because they give the best service to their credit card members. Everything from upgrades to quality of service is better. Also, I am apart of the ABA Law Student Division and all of their annual/regional meetings are never far from a Hyatt! 
jenn_bar wrote:
That is totally true; however, I'm making an allegiance today! Haha no, but really I've chosen Hyatt because they give the best service to their credit card members. Everything from upgrades to quality of service is better. Also, I am apart of the ABA Law Student Division and all of their annual/regional meetings are never far from a Hyatt!
Ugh I need to get on that. I may even be apart of it and just unaware. Haha don't we already have plenty to worry about? I am about to do hard researching. AMEX gives me a green light because it seems they are generous with their initial CL and even more generous with a CLI. Keep us updated on the status of cards and I will do the same.
@LawStudentCivilis wrote:
jenn_bar wrote:That is totally true; however, I'm making an allegiance today! Haha no, but really I've chosen Hyatt because they give the best service to their credit card members. Everything from upgrades to quality of service is better. Also, I am apart of the ABA Law Student Division and all of their annual/regional meetings are never far from a Hyatt!
Ugh I need to get on that. I may even be apart of it and just unaware. Haha don't we already have plenty to worry about? I am about to do hard researching. AMEX gives me a green light because it seems they are generous with their initial CL and even more generous with a CLI. Keep us updated on the status of cards and I will do the same.
You would know! I had to interview and travel, etc etc. You may be a part of the ABA though, which you can still join in the meetings you just don't HAVE to go through it...
I will let you know! I'm hoping to get it done tonight, but I want to wait until I get home from the office so I can do it on my own secured computer.
@LawStudentCivilis wrote:
@unc0mm0n1 wrote:
@jenn_bar wrote:I've decided to get my third credit card with AMEX. I currently have a Freedom (5k limit) and CSP (5k limit) and a Fico score of 735. I also have am an authorized user of a Costco AMEX. I just received the CSP at the end of May, so I would like to add one more card so I will be hard inquiry free in two years when I go to buy a house.
I am a 22 year old law student with a steady job (during the school year too). I use the Freedom only for the 5% categories and CSP for everything else.
What do you think is the best American Express card that I would benefit from? I do not mind another hefty annaul fee, as in with the Gold card, but how would a charge card affect my credit compared to a credit card? Also, how should I share my expenses with the CSP and the Amex?
Thanks!! You guys are amazing and I give you all full props for bringing my credit score up 16 points in the past few months, due to the moves with CSP, etc.
Another law student? There are a ton of us on this site.
Yea, quite a few of us here. Quick question, I am considering buying a home in a few years as well. I am afraid if I get a fourth credit card it will make conservative mortgage lenders think I'm a young credit chaser that can easily get over my head. Any thoughts on this?
jenn_bar I am toying with the idea of getting an American Express too except I am trying to compare it to Discover.
In a few years accounts that you obtain today will help, not damage, your credit profile as long as you manage them well. Since you already know you'll be looking for mortgage in the foreseeable future, now is the best time to obtain any cards you want so they will age together. Applying for a new trade line within one year prior to a mortgage application would not be advisable.
@jenn_bar wrote:
@LawStudentCivilis wrote:
@jenn_bar wrote:
@LawStudentCivilis wrote:If I apply for an Amex it will for sure be within the next month. So if I do apply for an AMEX, My cards will be: Chase Freedom, Cap One CW, Dillard's Amex, and AMEX?? Good point about them aging in a few years. My last worry is I just opened the Cap One to balance off my last Chase card that I closed and if I open another AMEX it will drag down the overall age of my accounts. Sigh decisions decisions.
Honestly, the way I look at is from the viewpoint of the future. I never plan to really utililize these cards in general plus none of them have tremendous signing bonuses like the CSP that I received last month. I want them for the purpose of extending my CL, therefore increasing my score within the next three years. Granted, when I travel, I'm going to try as best I can to stay at a Hyatt and retain points for the way future, but my goal is not to change my credit lifestyle as it is right now.
I will not touch anything for a few years after I apply for the Amex and Hyatt Chase. I'm super frugal as it is, so this all scares me a bit, but I know it will be worth it when I need a mortgage or a car loan in 2+ years.
Seems like we have the same worries and habits. It's great talking with someone with the same concerns. I haven't found a travel card that is helpful to me just yet, because I have no allegiance to one place, I usually like the best deals. Most travel cards have an AF and that turns me off to them.
That is totally true; however, I'm making an allegiance today! Haha no, but really I've chosen Hyatt because they give the best service to their credit card members. Everything from upgrades to quality of service is better. Also, I am apart of the ABA Law Student Division and all of their annual/regional meetings are never far from a Hyatt!
Provided that you have your heart set on Hyatt, using your current Freedom - CSP combo is the best way to maximize Hyatt points. Regarding BCE/BCP, whether the annual fee is worth it depends on how much you spend on groceries. Give me an estimate of your monthly grocery bill and I can do some quick math to figure out if the annual fee is justifiable. 
@HiLine wrote:
@jenn_bar wrote:
@LawStudentCivilis wrote:
@jenn_bar wrote:
@LawStudentCivilis wrote:If I apply for an Amex it will for sure be within the next month. So if I do apply for an AMEX, My cards will be: Chase Freedom, Cap One CW, Dillard's Amex, and AMEX?? Good point about them aging in a few years. My last worry is I just opened the Cap One to balance off my last Chase card that I closed and if I open another AMEX it will drag down the overall age of my accounts. Sigh decisions decisions.
Honestly, the way I look at is from the viewpoint of the future. I never plan to really utililize these cards in general plus none of them have tremendous signing bonuses like the CSP that I received last month. I want them for the purpose of extending my CL, therefore increasing my score within the next three years. Granted, when I travel, I'm going to try as best I can to stay at a Hyatt and retain points for the way future, but my goal is not to change my credit lifestyle as it is right now.
I will not touch anything for a few years after I apply for the Amex and Hyatt Chase. I'm super frugal as it is, so this all scares me a bit, but I know it will be worth it when I need a mortgage or a car loan in 2+ years.
Seems like we have the same worries and habits. It's great talking with someone with the same concerns. I haven't found a travel card that is helpful to me just yet, because I have no allegiance to one place, I usually like the best deals. Most travel cards have an AF and that turns me off to them.
That is totally true; however, I'm making an allegiance today! Haha no, but really I've chosen Hyatt because they give the best service to their credit card members. Everything from upgrades to quality of service is better. Also, I am apart of the ABA Law Student Division and all of their annual/regional meetings are never far from a Hyatt!
Provided that you have your heart set on Hyatt, using your current Freedom - CSP combo is the best way to maximize Hyatt points. Regarding BCE/BCP, whether the annual fee is worth it depends on how much you spend on groceries. Give me an estimate of your monthly grocery bill and I can do some quick math to figure out if the annual fee is justifiable.
Do you have another idea besides Hyatt? Always open to hear! I will do this process tonight.
According to Mint.com I have already spent $260 on groceries for this month, so let's double that and say $500?
@jenn_bar wrote:
@HiLine wrote:
@jenn_bar wrote:
@LawStudentCivilis wrote:
@jenn_bar wrote:
@LawStudentCivilis wrote:If I apply for an Amex it will for sure be within the next month. So if I do apply for an AMEX, My cards will be: Chase Freedom, Cap One CW, Dillard's Amex, and AMEX?? Good point about them aging in a few years. My last worry is I just opened the Cap One to balance off my last Chase card that I closed and if I open another AMEX it will drag down the overall age of my accounts. Sigh decisions decisions.
Honestly, the way I look at is from the viewpoint of the future. I never plan to really utililize these cards in general plus none of them have tremendous signing bonuses like the CSP that I received last month. I want them for the purpose of extending my CL, therefore increasing my score within the next three years. Granted, when I travel, I'm going to try as best I can to stay at a Hyatt and retain points for the way future, but my goal is not to change my credit lifestyle as it is right now.
I will not touch anything for a few years after I apply for the Amex and Hyatt Chase. I'm super frugal as it is, so this all scares me a bit, but I know it will be worth it when I need a mortgage or a car loan in 2+ years.
Seems like we have the same worries and habits. It's great talking with someone with the same concerns. I haven't found a travel card that is helpful to me just yet, because I have no allegiance to one place, I usually like the best deals. Most travel cards have an AF and that turns me off to them.
That is totally true; however, I'm making an allegiance today! Haha no, but really I've chosen Hyatt because they give the best service to their credit card members. Everything from upgrades to quality of service is better. Also, I am apart of the ABA Law Student Division and all of their annual/regional meetings are never far from a Hyatt!
Provided that you have your heart set on Hyatt, using your current Freedom - CSP combo is the best way to maximize Hyatt points. Regarding BCE/BCP, whether the annual fee is worth it depends on how much you spend on groceries. Give me an estimate of your monthly grocery bill and I can do some quick math to figure out if the annual fee is justifiable.
Do you have another idea besides Hyatt? Always open to hear! I will do this process tonight.
According to Mint.com I have already spent $260 on groceries for this month, so let's double that and say $500?
I'll do the BCP math first. At your quarterly grocery spending of $1.5k:
The BCE will give you $45 back (3% of 1.5k)
The BCP will give you $90 back (6% of 1.5k), or $45 in excess of the BCE's rewards
Annualized, the BCP gives you an extra $180 back. Compared to the annual fee of $75, that's a profit. So the annual fee is very much justifiable
In terms of hotel availability, Hilton and Mariott are the best, so their respective credit cards are worth looking at. If you typically travel to big cities where just about every single hotel chain is present, SPG offers easily the best value. Second to that is Club Carlson, whose credit card is sponsored by US Bank.
@HiLine wrote:
@jenn_bar wrote:
@HiLine wrote:
@jenn_bar wrote:
@LawStudentCivilis wrote:
@jenn_bar wrote:
@LawStudentCivilis wrote:If I apply for an Amex it will for sure be within the next month. So if I do apply for an AMEX, My cards will be: Chase Freedom, Cap One CW, Dillard's Amex, and AMEX?? Good point about them aging in a few years. My last worry is I just opened the Cap One to balance off my last Chase card that I closed and if I open another AMEX it will drag down the overall age of my accounts. Sigh decisions decisions.
Honestly, the way I look at is from the viewpoint of the future. I never plan to really utililize these cards in general plus none of them have tremendous signing bonuses like the CSP that I received last month. I want them for the purpose of extending my CL, therefore increasing my score within the next three years. Granted, when I travel, I'm going to try as best I can to stay at a Hyatt and retain points for the way future, but my goal is not to change my credit lifestyle as it is right now.
I will not touch anything for a few years after I apply for the Amex and Hyatt Chase. I'm super frugal as it is, so this all scares me a bit, but I know it will be worth it when I need a mortgage or a car loan in 2+ years.
Seems like we have the same worries and habits. It's great talking with someone with the same concerns. I haven't found a travel card that is helpful to me just yet, because I have no allegiance to one place, I usually like the best deals. Most travel cards have an AF and that turns me off to them.
That is totally true; however, I'm making an allegiance today! Haha no, but really I've chosen Hyatt because they give the best service to their credit card members. Everything from upgrades to quality of service is better. Also, I am apart of the ABA Law Student Division and all of their annual/regional meetings are never far from a Hyatt!
Provided that you have your heart set on Hyatt, using your current Freedom - CSP combo is the best way to maximize Hyatt points. Regarding BCE/BCP, whether the annual fee is worth it depends on how much you spend on groceries. Give me an estimate of your monthly grocery bill and I can do some quick math to figure out if the annual fee is justifiable.
Do you have another idea besides Hyatt? Always open to hear! I will do this process tonight.
According to Mint.com I have already spent $260 on groceries for this month, so let's double that and say $500?
I'll do the BCP math first. At your quarterly grocery spending of $1.5k:
The BCE will give you $45 back (3% of 1.5k)
The BCP will give you $90 back (6% of 1.5k), or $45 in excess of the BCE's rewards
Annualized, the BCP gives you an extra $180 back. Compared to the annual fee of $75, that's a profit. So the annual fee is very much justifiable
In terms of hotel availability, Hilton and Mariott are the best, so their respective credit cards are worth looking at. If you typically travel to big cities where just about every single hotel chain is present, SPG offers easily the best value. Second to that is Club Carlson, whose credit card is sponsored by US Bank.
Thank you! That is SO helpful!
I was considering the Hilton; however, because I am doing this to increase my credit limit, I've heard that Hyatt Visa Sig gives a large sum usually at approval. Plus, Hyatt's are very awesome to their credit card guests. Curious to know if this is the same with the Hilton? Which Hilton card would you suggest?