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What card(s) should I apply for?

1LostArk
Valued Member

What card(s) should I apply for?

  • Currently at 2/24, 2/12
  • 4 HP's, none for CC's (personal, auto, mortgage)
  • I will be adding an Amex Gold in June, but this may not result in a HP? (my Platinum didn't)
  • Re-opening Chase Sapphire in December for a 2nd SUB, which will be a HP
  • I like to stay at or under 4/24 at all times
  • Upgrading Cash Magnet to BCP at some point
  • BofA Platinum Honors

What I have in mind: open another card in June, which will space out HP's six months apart. If my Amex Gold app results in an HP as well, then my CSP app will put me at 5/24 for less than a year, which I can tolerate. My current strategy is to maximize cash back, MR points, and UR points respectively, based on spend categories. Some of my ideas:

 

BofA Premium Rewards — $500 SUB, and would basically replace my Citi Double Cash as my "catch all" card, fleixibility to redeem for travel if I want.

US Bank Cash+ — For me even just 5% on utilities will outpace BofA PR value in 2-3 years, but I'm not sure I like the idea of opening a card for a single spend category. I really wouldn't use any of the other categories on this card, so if they change the categories it's a waste. No current relationship with US Bank.

 

Obviously I'm open to suggestions, hence this thread. Thank you!

 


Message 1 of 4
3 REPLIES 3
sarge12
Senior Contributor

Re: What card(s) should I apply for?


@1LostArk wrote:
  • Currently at 2/24, 2/12
  • 4 HP's, none for CC's (personal, auto, mortgage)
  • I will be adding an Amex Gold in June, but this may not result in a HP? (my Platinum didn't)
  • Re-opening Chase Sapphire in December for a 2nd SUB, which will be a HP
  • I like to stay at or under 4/24 at all times
  • Upgrading Cash Magnet to BCP at some point
  • BofA Platinum Honors

What I have in mind: open another card in June, which will space out HP's six months apart. If my Amex Gold app results in an HP as well, then my CSP app will put me at 5/24 for less than a year, which I can tolerate. My current strategy is to maximize cash back, MR points, and UR points respectively, based on spend categories. Some of my ideas:

 

BofA Premium Rewards — $500 SUB, and would basically replace my Citi Double Cash as my "catch all" card, fleixibility to redeem for travel if I want.

US Bank Cash+ — For me even just 5% on utilities will outpace BofA PR value in 2-3 years, but I'm not sure I like the idea of opening a card for a single spend category. I really wouldn't use any of the other categories on this card, so if they change the categories it's a waste. No current relationship with US Bank.

 

Obviously I'm open to suggestions, hence this thread. Thank you!

 


I must be doing something wrong...I have never had a 500 SUB offer before, well, at least not on a card without an AF. I have 2 cards from BofA and 2 from US Bank. I did get a 200 dollar reward for the BofA Cash rewards, and only met the SUB requirements before SD due to higher rewards. Then, amazingly a few months ago, and about 3 years after the first 200 dollar SUB, they offered another 200 SUB to PC it to the Unlimited Cash Rewards card. I really can't figure out why they have given me 400 bucks on 2000 dollars spend, since I never pay a dime in interest, and had not used the card for a year. Personally, I use my Chase Amazon Prime card more than any other card, followed by the Amex Blue Cash Preferred. It really depends on your lifestyle, because some of these cards used for travel offer crazy SUB. I never travel due to my health, so it is not for me. It sounds like you have some great offers. I am a sucker for SUB bribes, and any card under 2% cash back is never obtained without a decent SUB. One possible suggestion, rather than PC the magnet to a BCP, you might want to just get the BCP, and transfer some CL to the BCP. Being disabled I order a lot from Amazon, although I do compare prices with Costco and Walmart. I had 2 BofA Cash rewards cards before the recent PC on one of them. The other has online shopping as my 3% catagory. At least 80% of all my charges get 3-6% cash back...including 3% on utilities on US Bank Quicken card.

TU fico08=844 09/16/21
EX fico08=833 09/16/21
EQ fico09=829 09/16/21
EX fico09=823 09/16/21
EQ fico bankcard08=864 09/16/21
TU Fico Bankcard 08=879 09/16/21
EQ NG1 fico=802 04/17/21
EQ Resilience index score=58 03/09/21
Unknown score from EX=784 used by Cap1 07/10/20
Message 2 of 4
Hoben02
Regular Contributor

Re: What card(s) should I apply for?

It's a good strategy I have been moving what I know is a travel expense to the bofa cash or us pride card, but when in question I will default to the bofa premium and your platinum honors gets a nice rate. 

Chase (CSP,CF,CFU,southwest premier)
Barclay(jetblue, arrival, frontier)
Bofa(US pride, premium, travel, cash, alaska)
Citi(Premier, Double cash, Costco)
Fnbo(Mlife)
Amex(everyday, cash, Hilton)
Blockfi
Caesars rewards
Sofi
Gemini
Message 3 of 4
coldfusion
Community Leader
Super Contributor

Re: What card(s) should I apply for?

With the Platinum Honors 2.62% and 3.5% cashback uplifts and the 50K point SUB I think it would be pretty tough to come up with a better alternative for uncategorized spend over at least the next 2 years than the BoA Premium Rewards card even factoring in the AF and if you weren't able to leverage any of its TSA or airline incidentals credits.   You could revisit the landscape in 2 years and plot next moves.

(5/2022)
FICO 8 (EX) 827 (TU) 834 (EQ) 829
FICO 9 (EX) 837 (TU) 845 (EQ) 846

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 4 of 4
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