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Help me help someone else - card suggestions

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Valued Contributor

Re: Help me help someone else - card suggestions


@FortifiedHM wrote:

Sounds like they dont want to get into complex system, and they don't want to actively managing too nany cards.

 

Just get a double cash and call it.


+1

i gotta agreeSmiley Wink

Message 11 of 25
Established Contributor

Re: Help me help someone else - card suggestions

If they live in one of the following states

(AZ, CA, ID, LA, NV, NM, TX, WA, or WI)

3% cash back on restaurants, fast-food, groceries, and gas.

I got a nice starting limit and use this card a lot

Bank of the West - Cash Back

https://www.bankofthewest.com/personal-banking/credit-cards/cash-back-credit-card.html

 

and : or  "Citi DC"

FNBO 2% Cashback Visa (20k) / Bank of the West Cashback MC (20k)
US-Bank Cash+ (15k) / FNBO Travel Elite (15k) / Citi Double Cash (18k)
Ficos : 840 / AAoA : 9 yrs / AoOA : 23 Yrs / AoYA : 3
Message 12 of 25
Community Leader
Super Contributor

Re: Help me help someone else - card suggestions

@calyx  

 

If card with categories is not desired, I'd go with Chase. My only concern would be thin file but they already have Chase card and can check for pre approvals in branch. 

 

Chase cards and redemption are simple enough considering they only had to manage one card, at least they will be familiar with user interface. 

Next, convince them CSP is great idea 6 months down the road, get the sub and if they dont want to keep it after a year, PC to Freedom ( by that time they might be willing to play "buy this for the next 3 months" game). 

 

If that wont work, DC 

 

After a year, give them link for the forum Smiley LOL

 

 

EX 754 EQ 773 TU 752
Message 13 of 25
Senior Contributor

Re: Help me help someone else - card suggestions

Do they PIF or carry a balance?

Message 14 of 25
Highlighted
Community Leader
Super Contributor

Re: Help me help someone else - card suggestions

Sounds to me like the person is just fine with one card. I would just go for a straight 2% card if they want cash back as its not a complicated card to manage. I wouldnt worry about credit csrd nerfs if the person doesnt use them anyway. Most people dont so just depends on really what the person wants their one credit card to do. Once you figure those specifics out, choosing a card for a person with sn 800 score should be straight forward, imo. Im really liking the one card rules all approachSmiley Happy
Message 15 of 25
Frequent Contributor

Re: Help me help someone else - card suggestions


@calyx wrote:

This person is fairly conservative and would likely like to stick to one of the bigger banks. 

I wouldn't rule out a CU, but they're not a member of one/any right now.
Only one card that will rule all:  They put 100% of their spend on one card (be it 1k or 10k) and PIF every month.
No Paypal (so no paypal 2%)


My first thought is not about credit cards.  If they are the type of people they sound like, I'm truly shocked they would be banking with only big banks and not members of a good local credit union.  I have yet to find a big bank that can compete with the many credit unions I've belonged to over the years, in terms of fees, perks, and interest payments.  So my first recommendation has to be to highly suggest to them that they check out a credit union for their regular checking, savings, and maybe even some investment accounts. 

 

Once they find a good credit union, they may find a good card available there.  A lot of credit unions are offering rewards or cash back cards that are pretty decent while also offering lower APRs than the cash-back card rates with the big banks, in case they ever need to float a month. 

 

Back on the card recommendation subject:  Like most everyone here, I agree the Citi DC is probably the best fit and the first card I though of for them.  However, I don't think it's a hands-down choice, remembering who this is for.  They sound like they would rather deal with financial institutions they already do business with, so maybe Citi isn't the best fit for them??  There are only a handful of 2.0 - 2.5% (permanent) cash-back cards out there, and most of them are probably not really a good fit for them except the Citi DC.  However, there are literally TONS of 1.5% on everything cash-back options, even from credit unions in some cases.  For you and me who have been playing the cash-back game for a long time, we want to eek out every % we can and don't mind making it complicated if we have to in some cases.  That's why most of us think of the CITI DC, even if we don't bank with Citi.  For this couple, who haven't been getting ANY cash-back on most everyday purchases, they will probably be extremely pleased to get that 1.5% cash back on everything and might even prefer that over 2% from some third-party bank that they don't normally do business with.  I would present some options and explain the pros and cons.  Here are some suggestions:

 

CITI Double Cash.  Basically 2% back if PIF monthly.  (Actually works out to slightly less when redeemd for statement credit because they don't give you the 1% back when you PAY, since you are getting credit.)  *NO* SUB. 

 

Chase Freedom Unlimited.  I wouldn't suggest the basic Freedom.  The CFU has 3% back on first 20K spend in year one ($600 SUB) and 1.5% on everything, no categories to fool with.  Basic Freedom has categories and is complicated for someone who wants simplicity.

 

Capital One Quicksilver.  Yes, I know some might question this, but I've found Capital One very easy to work with.  They have the original 1.5% on everything cash-back card.  Current offer also has $150 SUB.  It will be issued as a Mastercard or Visa, so widely accepted.  No AF.  And from my experience, lower APR than most cash-back cards.  Very easy redemptions, no minimums and I can get the credit to my account online as soon as the charge clears pending.  There's a reason they call it "quicksilver" compared to other cash-back options.  Your couple may love that about this card.

 

Bank of America:  Cash Rewards  3-2-1 might be a good and simple choice for them, since you said they bank with BOA.   ($200 SUB).  But there is also another good option for them from BOA.  Most people overlook the fact that BOA also DOES have a no AF 1.5% cash-back card on everything.  It's their Travel Card.  (Currently a $250 SUB.)  Yes, I know you said travel isn't a priority, and while I don't have this card personally, from my understanding you can redeem the cash for statement credit on whatever you want?? (Anyone who has this, feel free to chime in.)

 

Discover Card:  MILES.  Much more simple than BOA Cash-Rewards 3-2-1 or Discover IT 5% categories cards.  You get 1.5% back (and for the first year, they will get 3% back total when DS matches first year spend, no limit.  This could be a lot higher SUB for a cash-back card than anyone else is offering.)  The downside:  it's a discover, which has a more limited network.  While Discover presents this as a "travel card", like the BOA Travel card above, you can redeem the miles for statement credits or cash back at 1 penny per mile, from my understanding.  (Once again, if anyone who actually has this card, feel free to contradict.)  For this card or the BOA TR Card, you might point out how they can save up money to use on a once-a-year vacation trip or for a special purchase, and they might rethink whether a "travel" type card is something they would consider, especially one with no fee that allows you to credit it towards whatever you want.

 

AMEX:  Cash Magnet.  Pays 1.5% on everything.  $150 SUB.  The downside:  It's an AMEX so has limited acceptance compared to MC/VS.

 

Wells Fargo Cash Wise.  Pays 1.5% on everything.  $150 SUB.  Visa Network.

 

Navy Federal Credit Union.  Cash Rewards.  Yes, they have to qualify (military service) and yes they would have to establish a banking relationship. But everyone here seems to love NFCU, they offer a $250 SUB right now, and the APR for a cash-back card is hard to beat at 11.90%.   NFCU CR pays 1.5% cash-back on everything.

 

There are many others  but you get the idea.  Note that all the card above that I mentioned have SUBs but the CITI DC does not.  That is another factor to consider. 




Total Length of Credit = 31 years; AoOA (Currently open accounts) = 26+ years; AAoA = 9.5+ years; AoYA = less than 1 year (Aug 2019)
*Hover cursor over each card to see name, CL
Message 16 of 25
Valued Contributor

Re: Help me help someone else - card suggestions


@kilroy8 wrote:

Do they PIF or carry a balance?


PIF - always.   If they're getting something big, it's no problem, they've got a sizeable savings account to cover major issues (up to and including paying cash for cars/autos or home renos).




Garden goal: keep on keepin' on until 2020.
Message 17 of 25
Valued Contributor

Re: Help me help someone else - card suggestions


@Remedios wrote:

@calyx  

 

After a year, give them link for the forum Smiley LOL

 


smiley-laughing021.gif




Garden goal: keep on keepin' on until 2020.
Message 18 of 25
Mega Contributor

Re: Help me help someone else - card suggestions


@Aim_High wrote:

@calyx wrote:

This person is fairly conservative and would likely like to stick to one of the bigger banks. 

I wouldn't rule out a CU, but they're not a member of one/any right now.
Only one card that will rule all:  They put 100% of their spend on one card (be it 1k or 10k) and PIF every month.
No Paypal (so no paypal 2%)


My first thought is not about credit cards.  If they are the type of people they sound like, I'm truly shocked they would be banking with only big banks and not members of a good local credit union.  I have yet to find a big bank that can compete with the many credit unions I've belonged to over the years, in terms of fees, perks, and interest payments.  So my first recommendation has to be to highly suggest to them that they check out a credit union for their regular checking, savings, and maybe even some investment accounts. 

 

  

 

Seems to be reading quite a lot into a very brief description!   To me, "conservative" here doesn't mean "searching for value" or anything like that, it means "traditional/not one for change" and so you go for a big bank because that's what most people do!

 

For this couple, who haven't been getting ANY cash-back on most everyday purchases, they will probably be extremely pleased to get that 1.5% cash back on everything

 

If they are using Chase Amazon, they are getting at least 1% on everything, and 2% on some non-Amazon items (restaurants/drug stores/gas)

 

But I agree that Citi might not be the obvious choice.   However, I would simply choose between Citi DC (for the 2%) and the Chase FU (as they already have Chase)

Message 19 of 25
Valued Contributor

Re: Help me help someone else - card suggestions


@Aim_High wrote:

@calyx wrote:

This person is fairly conservative and would likely like to stick to one of the bigger banks. 

I wouldn't rule out a CU, but they're not a member of one/any right now.
Only one card that will rule all:  They put 100% of their spend on one card (be it 1k or 10k) and PIF every month.
No Paypal (so no paypal 2%)


My first thought is not about credit cards.  If they are the type of people they sound like, I'm truly shocked they would be banking with only big banks and not members of a good local credit union.  I have yet to find a big bank that can compete with the many credit unions I've belonged to over the years, in terms of fees, perks, and interest payments.  So my first recommendation has to be to highly suggest to them that they check out a credit union for their regular checking, savings, and maybe even some investment accounts. 

 

Once they find a good credit union, they may find a good card available there.  A lot of credit unions are offering rewards or cash back cards that are pretty decent while also offering lower APRs than the cash-back card rates with the big banks, in case they ever need to float a month. 

 

Back on the card recommendation subject:  Like most everyone here, I agree the Citi DC is probably the best fit and the first card I though of for them.  However, I don't think it's a hands-down choice, remembering who this is for.  They sound like they would rather deal with financial institutions they already do business with, so maybe Citi isn't the best fit for them??  There are only a handful of 2.0 - 2.5% (permanent) cash-back cards out there, and most of them are probably not really a good fit for them except the Citi DC.  However, there are literally TONS of 1.5% on everything cash-back options, even from credit unions in some cases.  For you and me who have been playing the cash-back game for a long time, we want to eek out every % we can and don't mind making it complicated if we have to in some cases.  That's why most of us think of the CITI DC, even if we don't bank with Citi.  For this couple, who haven't been getting ANY cash-back on most everyday purchases, they will probably be extremely pleased to get that 1.5% cash back on everything and might even prefer that over 2% from some third-party bank that they don't normally do business with.  I would present some options and explain the pros and cons.  Here are some suggestions:

 

CITI Double Cash.  Basically 2% back if PIF monthly.  (Actually works out to slightly less when redeemd for statement credit because they don't give you the 1% back when you PAY, since you are getting credit.)  *NO* SUB. 

 

Chase Freedom Unlimited.  I wouldn't suggest the basic Freedom.  The CFU has 3% back on first 20K spend in year one ($600 SUB) and 1.5% on everything, no categories to fool with.  Basic Freedom has categories and is complicated for someone who wants simplicity.

 

Capital One Quicksilver.  Yes, I know some might question this, but I've found Capital One very easy to work with.  They have the original 1.5% on everything cash-back card.  Current offer also has $150 SUB.  It will be issued as a Mastercard or Visa, so widely accepted.  No AF.  And from my experience, lower APR than most cash-back cards.  Very easy redemptions, no minimums and I can get the credit to my account online as soon as the charge clears pending.  There's a reason they call it "quicksilver" compared to other cash-back options.  Your couple may love that about this card.

 

Bank of America:  Cash Rewards  3-2-1 might be a good and simple choice for them, since you said they bank with BOA.   ($200 SUB).  But there is also another good option for them from BOA.  Most people overlook the fact that BOA also DOES have a no AF 1.5% cash-back card on everything.  It's their Travel Card.  (Currently a $250 SUB.)  Yes, I know you said travel isn't a priority, and while I don't have this card personally, from my understanding you can redeem the cash for statement credit on whatever you want?? (Anyone who has this, feel free to chime in.)

 

Discover Card:  MILES.  Much more simple than BOA Cash-Rewards 3-2-1 or Discover IT 5% categories cards.  You get 1.5% back (and for the first year, they will get 3% back total when DS matches first year spend, no limit.  This could be a lot higher SUB for a cash-back card than anyone else is offering.)  The downside:  it's a discover, which has a more limited network.  While Discover presents this as a "travel card", like the BOA Travel card above, you can redeem the miles for statement credits or cash back at 1 penny per mile, from my understanding.  (Once again, if anyone who actually has this card, feel free to contradict.)  For this card or the BOA TR Card, you might point out how they can save up money to use on a once-a-year vacation trip or for a special purchase, and they might rethink whether a "travel" type card is something they would consider, especially one with no fee that allows you to credit it towards whatever you want.

 

AMEX:  Cash Magnet.  Pays 1.5% on everything.  $150 SUB.  The downside:  It's an AMEX so has limited acceptance compared to MC/VS.

 

Wells Fargo Cash Wise.  Pays 1.5% on everything.  $150 SUB.  Visa Network.

 

Navy Federal Credit Union.  Cash Rewards.  Yes, they have to qualify (military service) and yes they would have to establish a banking relationship. But everyone here seems to love NFCU, they offer a $250 SUB right now, and the APR for a cash-back card is hard to beat at 11.90%.   NFCU CR pays 1.5% cash-back on everything.

 

There are many others  but you get the idea.  Note that all the card above that I mentioned have SUBs but the CITI DC does not.  That is another factor to consider. 


Thanks for this list and all of the thought and effort you put into it!

They *can* qualify for NFCU (so that one is on the table) and a variety of other CUs - geo and due to the fact they work for a blue chip company.   I'm in the same geo-area, and know of a number of solid CUs, and yes, my CU (which I adore) has a flat rate card (which I don't have because where's the fun in that? lol).

I'm pushing for a CU over BofA, but that's another battle Smiley Wink  Maybe I'll let my Navy Fed CashRewards flyer fall out of my bag for an "oh hey!" casual conversation.  haha.

As for banking relationships - you are right.  Parents have credit cards with Chase, which is why I think they ended up there (one of the parents is a churner and we chatted, so I probably know more about their spend than the kid, lol), they have prior relationship with BofA due to geographic reasons (they're from BofA homebase, plus friends work there, etc. etc) and Cap1.    They admit to being kind of banking/credit clueless and sometimes ask for help, so I do my best.

Unlike my sister, who asks for help and referral codes and doesn't follow up Smiley Tongue  She has an epic grocery and dining spend and has a 1% card and it hurts my soul.  HER, I badger Smiley Wink




Garden goal: keep on keepin' on until 2020.
Message 20 of 25
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