40 yrs old & 1 CC(!)

[Anonymous]

@Anonymous  That Citi Costco Visa sound pretty tempting! So looks like I'd be using it on gas and at Costco only?

[Anonymous]

So if I keep my Discover and add the Citi Costco Visa (only for gas & Costco), what would a good 3rd one be?

BOA cash rewards?

CitiDouble Cash?

BCE?

ChaseFreedom?

Remember, we're not big spenders at all. I'm a transactor (and only spend on something if it's needed and I have the cash on hand to pay CC bill immediately).

My biggest monthly bills are electric, car insurance and car payment (my landlord doesn't take CC for rent..), then groceries and kids' clothing when they need.

[ChargedUp]

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@Anonymous wrote:

@ChargedUp Ty. I need to use as little brainspace for keeping track of CCs right, as I can (while still being responsible about using them and slowly building credit).

I'm not sure if I have the energy or headspace to jump through hoops witha credit union right now, but I'll definitely keep it in mind for the future, for 3% back.

I wonder if any USAA cards are good? I've had car insurance with them for a few yrs and a tiiiinnnnyyy (25 bucks) savings account (and if USAA has good ones, and I qualify- does that mean I can one of the Navy cards? Totally clueless).

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If you can make the military connection to get into Navy Fed, then I'd absolutely recommend them!

[Anonymous]

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@Anonymous wrote:

@Anonymous  That Citi Costco Visa sound pretty tempting! So looks like I'd be using it on gas and at Costco only?

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4% back on gas anywhere - not just at Costco.

If you decided to take the kids out to eat, 3% back on restaurants.

My spending is just like you described yours. I used debit cards for years as well, and was taught the same values about spending money.

Now I just use credit cards for all non-discretionary spend, excepting rent. I suppose you could do slightly better with a card that gives more than 1% back on those things, but how much of a difference is that really? Compared to some of the other benefits with the Costco card?

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

@Anonymous  That Citi Costco Visa sound pretty tempting! So looks like I'd be using it on gas and at Costco only?

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4% back on gas anywhere - not just at Costco.

If you decided to take the kids out to eat, 3% back on restaurants.

My spending is just like you described yours. I used debit cards for years as well, and was taught the same values about spending money.

Now I just use credit cards for all non-discretionary spend, excepting rent. I suppose you could do slightly better with a card that gives more than 1% back on those things, but how much of a difference is that really? Compared to some of the other benefits with the Costco card?

ETA: Oh yeah, get the BCE! That was my 3rd card.

[Save-n-Invest]

@Anonymous ,

I really like Double Cash. It's a no drama card I can use anywhere for any purchase. I lack the tempermanent and dispoition to spend time on the phone trying to have mistakes resolved. American Express is my problem child. There are mistakes made in computing the cash back rewards. Amex shoots from the hip with CLDs IMHO. There are times I just leave it in my wallet and use Double Cash as I don't want deal with dumb stuff for a penny. 

I used Discover for grocery the first quarter this year until I hit the ceiling. I went with DC until the second  quarter when Freedom kicked in for grocery. It just wasn't worth it for a penny. I'll do BCE now until something jumps the track and I'm on the phone with Amex again. 

Community members are very happy with American Express. I'm the outlier. I've had American Express cards for decades. Everything went smoothly until I got the BCE. My personal opinion is that Amex is not fond of the cash back market but is not willing to cede it to the competitors. Just my .02 from my experiences. You mentioned headspace waste and time. That's my only reason for posting this. 

Double Cash and BCE have minimum cash back redemptions of $25. My Chase, Capital One and Discover cash back cards will redeem any amount if that's important to you. Chase just put a check in the mail for $1.47 credit balance from a cash back reward redemption. It's a card I got a few years ago for 3% cash back on gas and dining. Made sense at the time as I was burning up the highway in a car that never passed a gas station. Most meals were not at home. Now in the pandemic universe it's different. I'll use the card again for gas beginning in July. It's Discover until then. 

I'm not a Costco member.  I have no direct experience with the Citi Costco card. I read somewhere that the cash back is awarded once a year as a Costco credit. Please verify that. Things change. If the cash back is important to you without a waiting period that could be a consideration. 

I'm a KISS person. I do let balances report and pay  in full when the statement is available. My FICO scores are north of 800 simply by paying as agreed. 

You have a great attitude toward credit and debt. You will do very well as you think things out before acting. Hope you get the cards that work best for you!

[Anonymous]

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@Save-n-Invest wrote:

I'm not a Costco member.  I have no direct experience with the Citi Costco card. I read somewhere that the cash back is awarded once a year as a Costco credit. Please verify that. Things change. If the cash back is important to you without a waiting period that could be a consideration. 

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Yes, this is still true - once a year. You can redeem the certificate for cash at Costco, or use it at checkout for a purchase.

The Citi Double Cash is an excellent recommendation.

[gingerflower]

@Anonymous +1 I agree with you the Citi bank Costco card would be the choice. Then add on Boa cash rewards...

[Anonymous]

@ChargedUp I know nothing about how being a USAA member can lead to Navy cards, any ideas?

[Anonymous]

@Save-n-Invest I so appreciate you taking the time to write about the BCE issues! You're 10000% correct, I don't want that headache right now, I literally don't have the energy for it, so it looks like that card will take a back-burner to the others I had questions about. 

I like the monthly cashback without having to wait for a minimum amount, so ty for the tips on the cards that don't do that. I just apply my Discover cash back, monthly, to my balance. Anyway, great too and super helpful! 

Out of curiosity, how do peopee keep track of what ceilings they've meet or are almost at (and which cards to use for which purchases)??? I have a friend who can seemingly keep track of about 15 different cards in her wallet and I'm flabbergasted as to how she does it (I've asked her to explain and she just laughs She has a very analytical mind and numbers are fun for her..so it's hard to explain how she keeps track. I'm curious how others do it).

Lastly, thank you for the validation on my attitude regarding credit and debt, and to thinking things out. I didn't get ANY of this growing up and I'm trying to do this correctly, from the start. It was a gigantic headache trying to teach myself what all the CC rules were, what the difference was between statement closing and statement due was, how you could leave a bit over to report, but still pay in full after the new cycles started etc. etc. Whew! I'm now teaching it to my younger sibling, so she'll have the right tools, and be better equipped than I was