My first Visa Signature... guess what it is before you click to read

[Carbon44]

If you guessed a Chase Sapphire Preferred... you are CORRECT! 

I will make my story short. I normally go for cashback cards because I tend to use my card for everyday purchases such as gas, groceries, restaurants, etc. I love my Discover More card and I also love my Chase Freedom. I will be planning a vacation next year year for a week and maybe even another mini vacation closer to home, but far enough away. I decided it was time to have a card with some travel benefits, great customer service, and heck I have been gardening for a while now so why not treat myself to a Visa Signature.  I applied online and then called the backdoor number a little while later. I got a very nice person on the phone and he asked me some simple questions and sure enough I was approved for 5k.  I plan on going on vacation at least one a year with mini vacations occuring every now and then throughout the year. I also plan on going overseas in 2 years and I thought building my ultimate reward points would be especially great for that vacation.

My question to everyone especially those of you who have been in this position before:

Do I keep my Chase Freedom open to get 5% in rotating categories and transfer them over to the CSP?

Do I close my Freedom since it has a small CL and hasn't been open very long and just use my Discover for everyday purchases when they have the 5% cashback and then use my CSP for all other purchases to get the 1% since Discover you technically only get .25% back on all other purchases? ( The small limit on the freedom would be allocated to my CSP cl I was told if I decided to close it)

Any other advice would be great

[tylaw13]

quick question thats off topic, what were your scores like when you got your Chase Freedom?

[Carbon44]

I had some trouble obtaining a Chase Freedom, but found away around it. I first apped for the Chase Amazon card, which I had them reconsider and then was approved. From their I called up because you were getting more rewards with the Freedom on Amazon, then the Amazon card so I PC'd over to the Freedom. I forget if they had to do another HP, but it was well worth it. I would say at the time my Credit Score was 690-710. The biggest factor that held me back was I was too new to credit and had too many inquiries in too short of time from trying to establish credit.  

[Anonymous]

Having Freedom, Sapphire and a checking account with chase is the best way to accumulate UR points. It is called chase trifica or somthing like that.

now may I ask your income and age of oldest account? I am going to apply for sapphire and need some info

[Carbon44]

I sent you a message BCF with the info you wanted. You are correct about the Freedom, CSP, and chase checking account as the best way, however I do not want to have a checking account with chase. It is just a personal preference, but I appreciate your help.

[bribro]

There is no reason to close your Freedom card. Use it for the 5% categories.

[Carbon44]

I agree, but also disagree. The reason why I do not agree is because my Discover More gives me identical rewards in all of the rotating categories and even sometimes the categories overlap such as the 6 months out of the year that gas is the category. In the battle between the Discover More and Chase Freedom the Discover More wins, because it was my first card, I have a higher limit on it, and I love Discover's customer service. 

[bribro]

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@Carbon44 wrote:

I agree, but also disagree. The reason why I do not agree is because my Discover More gives me identical rewards in all of the rotating categories and even sometimes the categories overlap such as the 6 months out of the year that gas is the category. In the battle between the Discover More and Chase Freedom the Discover More wins, because it was my first card, I have a higher limit on it, and I love Discover's customer service. 

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You sure? Does Discover give you 5% on restaurants like Freedom does this quarter?

[searchingfor67]

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@bribro wrote:

There is no reason to close your Freedom card. Use it for the 5% categories.

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+1

[Carbon44]

Discovers Calender: 

Jan-March: Gas + Entertainment

Apr-June: Restaraunts + Movies

May: Grocieries

Jul-Sept: Gas, Theme parks, and movies

Oct-Dec: Holiday Shopping (Department Stores)

Chase Freedoms Calender: 

Jan-March: Gas + Amazon

Apr-June: Groceries + Movies

Jul-Sept: Gas + Restaraunts

Oct-Dec: Khols, bestbuy, Airlines, Hotels

In my particular case I will only use Jan-March and Jul-Sept for Gas because I don't buy tons off amazon and if I do it's more towards the winter. It does come in beneficial in Apr- June because I in April and June I would get 5% on my groceries using my Freedom so $500 *5%= $25 more in cashback then if I didnt have the two. October through december I would just use the Discover Holiday shopping as I don't fly or stay anywhere during these months as family is in state and I  dont shop at Khols or Bestbuy so that eliminates that category for me.  It looks like I would make $25-30 more in cashback if I keep the Freedom open, but my question then is $25-30 worth it. 

Next year's categories can be different and it could be more then $30, but it could also be closer to being the same and be less. One last thing I guess that also is bothering me is I would feel like I have too many cards and then it becomes which cards should I carry in my wallet which I don't like the idea of. If the rewards were significant enough it would be worth it I must say.