cancel
Showing results for 
Search instead for 
Did you mean: 

Want big cash back, $300~ a month in spend

tag
unsungivy
Established Contributor

Re: Want big cash back, $300~ a month in spend


@Azza wrote:

@coldfusion wrote:

inquiries can be reported by type (unspecified, auto loan, etc.) but it's up to whomever is reviewing the credit report to decide how they want to evaluate each individual inquiry. 

 

US Bank is notoriously sensitive to inquiries, BoA less so.   If you want to pursue the Cash+ you may want to also look at its fraternal twin the Elan Max Cash Preferred card that is issued through a number of banks and credit unions, as emperically US Bank has been shown to be somewhat less inquiry-sensitive when evaluating Max Cash applications than for the Cash+. 

 

As an aside, isn't your Alliant Platinum the Rewards (i.e. the 2% cashback) version?   I know it's closed for new applications but they're still servicing the card for existing cardholders. 


It is the 2% version but they are notorious for jerking stuff around, it'd be a hard pull AU and their reward structure is less than stellar.

 

Also I'm confused. Is US Bank less inquiry-sensitive or more inquiry-sensitive? The card looks good for a few categories.

 

As to the responses here, really great ones. I know that I'm not going to be getting huge cash back. I figured that if I was able to get 5% back on $300 spend that'd be $15 back a month, then multiply that by 12 and that'd be an extra $180 a year. Basically the equivalent of having a SUB every year just for using the card that I could award as a bonus at the end of the year for gifts or extra stuff. I dunno, just musing. I think something flat would probably be the best catch-all, and saying "hey, if you buy something on amazon use this card."

 

The online shopping is the BoA, right? Not sure if I'm inquiry-proof for that. And the department stores is USBank, right? Hmm. The BCE might be an okay choice as I'm already in their ecosystem. Actually dang, I might just want that card for myself... heh. What a nice card! I wish they moved those benefits to the BCP. Can I get both?


The BCE and the BCP? Absolutely (just did it myself, though in my case I'm playing a long game of "I don't like the APR you gave me on the BCP a year ago"). And AmEx is a good choice for setting limits on an AU card. Pro tip: If you elect to do the BCE, grab the Resy link for it for 10% back on restaurants as well Smiley Wink

 

Dept Stores is Elan or US Bank... both of them have it as a selectable category, although only US Bank has "Select Clothing Stores" as well. (here's US Bank's categories https://cashplus.usbank.com/merchants?ecid=PS_23178&ds_e=GOOGLE&ds_c=Cash%2B_US+Bank+Cash%2B+CC_Bran...).

SD - Biz -
Message 21 of 25
calisig
Regular Contributor

Re: Want big cash back, $300~ a month in spend


@disdreamin wrote:

As the previous post mentioned, with ~$300 in monthly spend, you aren't looking at a whole lot in rewards or cash back, even if you optimize the heck out of the card(s) you're using. I'd just pick something convenient and make sure you can set limits on it unless you are comfortable with the possibility that your AU may go over their predicted monthly spend.

 

If it's a young user, the ability to freeze the card via an app, in case it's misplaced or stolen may also be highly useful. Those would be the things I'd focus on rather than trying for the biggest rewards. My AU have AmEx Gold for groceries and normal spend, and BCE for fuel (since all but one have a vehicle). I know I'm missing out on rewards using the Gold for general spend, but I'm comfortable with that. It's minimal as the AU's typically don't run all that much general spend through the cards in any given month. When there is a sizeable purchase, that is discussed in advance to optimize rewards, if possible.


THIS ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

 

@Azza  - there is no such thing as "Big Cash or Huge Rewards" for $300 / mo spend! You wrote you don't want to have to "babysit" the card for the AU. With that in mind, you are much better off adding an AU to one of your existing cards that can have a seperate number. Most personal CC accounts do not allow AU's their own number, but you have four cards that can. Consider adding this AU to either of your AmEx accounts, your Citi Costco, or your Apple Card. How else are you going to keep track of $300? Unless you are getting a new card just for the AU's use, mixing charges with your charges isn't going to work. Getting a new card for a maximum of $6 / month (difference between 1% to 3%) isn't worth it! 2% from your Apple Card, which should be possible for mall boutiques, is potentially worth $72 / year. If you make 3%, that is only $36 more. We are NOT talking "Big Cash or Huge Rewards" here. Even in your 5% calculaiton, it mistakenly assumes you would make 0% from any other card options.

 

RE US Bank and inquiries: It is up to banks to decide how they want to treat inquiries, but it is my perception that inquiries affect credit scores more than they affect credit decisions in and of themselves. US Bank seems to look more at new accounts opened than inquiries. The new account metric US Bank seems to adhere to is roughly 2/6 and 4/12.

 

This is simple: For dining, gas and Costco ONLINE, add the AU to Costco. For 2% on EVERYTHING ApplePay, add to Apple. If you don't want to or can't add to Costco, for dining add to AmEx Gold. For gas add to BCP. For everything else, accept 1% - and so what if you lose out on $36-$72 / year ...

13Oct22 Exp F8: 812
Message 22 of 25
Azza
Regular Contributor

Re: Want big cash back, $300~ a month in spend

Okay. Got the BCE on a soft pull, $20,500 SL.

Okay so USBank Cash+ might not work because we aren't going to hit enough of those stores (but I DO love me some Eddie Bauer heh!). I think yeah a general spend card like the FU will be the best play here, most likely, unless there is a "catch-all" card that does all retail stores under one umbrella somehow (super doubtful).
Currently Reporting:

Current Score:

Gardening Started with:


Message 23 of 25
disdreamin
Valued Contributor

Re: Want big cash back, $300~ a month in spend


@Azza wrote:
Okay. Got the BCE on a soft pull, $20,500 SL.

Okay so USBank Cash+ might not work because we aren't going to hit enough of those stores (but I DO love me some Eddie Bauer heh!). I think yeah a general spend card like the FU will be the best play here, most likely, unless there is a "catch-all" card that does all retail stores under one umbrella somehow (super doubtful).

Chase personal cards are a no-fly zone with me for AU. I don't have any way to limit their spend and, although I can lock their card(s), that is a huge deal for me. I don't want to log in to a huge bill without any warning. I figure I'm not much worse off with a flat-rate 1% card versus CFU.

Message 24 of 25
cws-21
Established Contributor

Re: Want big cash back, $300~ a month in spend


@unsungivy wrote:

Elan doesn't have "clothing" stores as an option, just dept stores. US Bank has clothing stores. Bear that in mind if you go that route.


Thank you for the correction. I have edited my post as a result.

Message 25 of 25
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.