@M_Smart007 wrote:
@NRB525 wrote:
@M_Smart007 wrote:"It's odd that you eliminate the Chase Freedom card due to rotating categories but then include the US Bank Cash plus which is a rotating category card!"
I wonder if US Bank Cash+ is really defined as a rotating category card, since you can pick the same quarters all year round?
Same principal, you have to activate the categories each quarter.
Technically, it's more challenging to do that with Cash+, as you have to go through more steps. It can be better for some specific spend, but doesn't really help general spend. Chase Freedom is a single click on a standard page to activate.
@NRB525, Pulling @Aim_High's leg just a little
Lol ... well, I do see what you mean @M_Smart007! But yes, it's categories and yes, you have to activate them. I always supposed that USBank could change them at their whim, even though they apparently do not!??
I'll consider my leg pulled 
@Aim_High wrote:Lol ... well, I do see what you mean @M_Smart007! But yes, it's categories and yes, you have to activate them. I always supposed that USBank could change them at their whim, even though they apparently do not!??
I'll consider my leg pulled
Well,, FWIW, I generally don't consider Cash+ as rotating, but in the context of the OP maybe. To me, it depends on what is meant by the issue of "switching categories" Yes, in all cases you need to sign up every quarter, but what distinguishes the "choose" cards like Cash+ from the others is that you are somewhat less at the whim of the issuer: (e.g. for those that don't do Wholefoods or amazon, Freedom is useless this quarter). Yes, Cash+ categories come and go, but changes are rare, and there are always lots of choices, compared to Freedom/Discover take-it-or-leave-it
@credit8502020 wrote:Hi All,
First, let me say thank you for all the information that has been shared on this forum!
I'm working to help my Mother get the absolute best cash back credit card(s). Although, I defintely want to help her get one, I'm curious as to advice regarding applying for 2 ideal credit cards considering she only has one inquiry and also only has store cards at this point.
Ideally, I think it would be best for her to have an excellent cash back card. I have considered the following, but would like your help with any helpful data points as to the best card(s) to apply for and when. If there are other cards, that you would suggest, please chime in.
-Chase Unlimited (Because of the cashback and not Chase Freedom because of needing to switch categories)
-NFCU Credit Card - Cash Rewards, but open to feedback about other NFCU cards (My Mother will be opening an account with NFCU today. Although I think it would be great to get a card from NFCU, how long should we wait before she applies for a credit card?)-AOD Visa Signature 3% Credit Card - It appears that this credit union does a Eq 5 HP for membership, so was thinking to apply for the credit card during the application process as well.
-US Bank Cash Plus Credit Card
-Blue Cash Everyday Card from American Express - Was told that American Express has been denying consumers, even with high credit scores lately.
***Monthly Spend***
About $785 (including some utilities that can be paid using a credit card)
FICO 8 Scores:
761 - EQ
759 - TU
753 - EXP
1 Inquiry on TU (8/2019)
Negatives are from me on our joint accounts:
Navient - 6 Lates (2014)Discover - 3 Lates (2018) - Closed, but with a $3100 balance I'm paying off (Had a $10,000 CL)Thank you in advance for your feedback!
What about is Citi Double Cash? I would try to goodwill the Navient and Discover lates. It never hurts to try. I would also try to prequal for Amex and see what comes up. The discover lates might pose an issue. What current cards does your mom have ? I would be willing to bet she would have 800 + scores if it werent for the lates. NFCU is also a great choice as far as great SL and decent APR and they have they have 150 sign up bonus and 1.5 cash back
If you choose utilities as a 5% category, the Cash+ could be a good option, but I would go for it first as US Bank is quite new account sensitive.
Who is the primary on the Discover? You mentioned it was a joint account, but Bank of America and Wells Fargo are the only two major lenders to allow joint owners on bank cards. If you are the primary, removing her as an authorized user would likely eliminate those lates from reporting on her credit reports.
@Aim_High wrote:Welcome to My Fico Forums @credit8502020
Agreed that much more description of spending priorities would be helpful.
It's odd that you eliminate the Chase Freedom card due to rotating categories but then include the US Bank Cash plus which is a rotating category card! The rotating category cards (Discover It, Chase Freedom, US Bank Cash Plus, Amalgamated Bank of Chicago Mastercard) can give high 5% yield but are limited by category and spending caps so not ideal for everyone. And they only earn 1% off-category, a lackluster return, except that Cash + allows one 2% category also.
You also mention the AOD FCU Signature Visa which is a great flat-rate 3% card. However, getting accounts approved and set up for many of us out of the geographic fence was cumbersome and some would not tolerate it just to get a card. Like most credit unions, you have to be a approved as a member to get this card.
I noticed you did *NOT* mention some other good flat-rate 2% cards. There are many and they might be a better overall fit for your mom, especially if she wants to simplify choosing cards at point-of-purchase. Top contenders in the 2% category are the PenFed Power Cash Rewards, Synchrony Bank PayPal Mastercard, Citibank Double Cash, and the State Department FCU Premium Cash Back Plus. There are actually quite a few others also but those are some of the more popular. Getting at least 2% instead of 1.5% (with cards such as NFCU Cash Rewards, Chase Freedom Unlimited, Wells Fargo Cash Wise, AMEX Cash Magnet, or Capital One Quicksilver for examples) adds up over time.
Blue Cash Everyday is not a bad card, but the 3% is capped at $6K grocery spend which is less than many people spend on groceries. (That's only $115 per week.) And the 2% is only on gas and selected department stores. Everything else is only 1%, so depending on spending, a flat-rate 1.5% or 2% card might come out ahead and be more simple to manage.
The FICO Score 8's you post are good, but the negatives may hurt approvals somewhat, even though they are not recent. Lenders are a little more picky today with the economic downturn.
Thank you for your feedback! It is really helpful in continuing to consider the best options. I included US Bank because of the utility and cell phone category. I think she would get more return from their categories than those with Chase. Thanks for mentioning the other cards. Out of that list, the State Department Federal & PenFed Credit Unions would be at the top of my list because I'm also helping her identify a new bank that has great rates and products, etc. After joining one of the credit unions, how long do you suggest waiting before applying?
I've looked into getting those negatives removed. However, based on advise I've received, I'm being careful to do so to avoid the possibility of them unintentionally removing the entire account.