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40 yrs old & 1 CC(!)

EastTortall
Established Member

Re: 40 yrs old & 1 CC(!)

I think I need to make a quick pros/cons list for the next 1 or 2cards I may add..bear with me if I have incorrect info (and go easy on me as I'm still a newb). Can anyone help me add to the list, below?

 

(For anyone reading and new to the topic, I'm a transactor, I don't spend unless it's something needed (so groceries, gas, car insurance, car lease payment kids' clothing when they outgrow, odds/ends for household (shampoo, dish soap etc), parking meters, occasional ice cream treats for kids at Carvel)

 

Looking for a card with no annual fee, and easy-to-get cash back (no waiting for minimums). I need to keep it simple, but would like to raise my score. 

 

Hoping to try AZEO for the first time, since I've only had 1 CC (Discover) ever, and only in last 2 yrs.

 

720TU

 

--------------------------------

 

 

BOA cash rewards-

 

NavyFed-

 

USAA-

 

Costco Citi Visa- cashback is only once a yr

 

Citi Double Cash- need min $25 to get cashback

 

BCE- some headaches with getting cashback & need min $25 to get cash back

 

Chase Freedom-

 

 

 

Edit: I've been reading that USAA has gone downhill and that their insurance rates aren't that competitive anymore, so I'm not sure how much longer I'll be a member with them [if say Geico has better rates]. Not sure if that will affect if I can/should get a CC with USAA or NavyFed.

 

 

Message 51 of 76
Save-n-Invest
Frequent Contributor

Re: 40 yrs old & 1 CC(!)

You need a cash back Visa to use at Costco, correct? 

 

I have Capital One Quicksilver. It's a 1.5% cash back card. No AF. I can redeem any amount anytime. I have no experince with CS so cannot speak to that. 

 

Chase Freedom Unimited is a 1.5 % cash back card. No 5% categories like Freedom. Freedom is a 1% card in non-category spend. No minimums or AF on Freedom. I don't have Freedom Unlimited. I also have Chase AARP Visa. It's 3% cash back on dining and gas. Other spend is 1%. No AF or minimum redemption requitements. I like Chase. No issues for many years as a cardholder. 

 

You asked about how people keep up with category spend. Grocery is my only item to watch the limits for me. I use an envelope. Jan thru March I put all Disco grocery receips inside and noted the date and total on the outside. I did an running tally occasionally. I used DC when  I hit $1500.  Same for Freedom this quarter. I'll change to BCE soon for grocery. 

 

The 5% bonus quarters are nice when they work with you usage. Freedom's third quarter was just announced. It's Amazon and Whole Foods. Not my cup of tea. 

 

Disco and Freedom covered me for gas and grocery with the 5% quarters this year to date. July I will use the AARP Visa for gas and BCE for grocery. 

 

Your friend with the wallet full of cards is amazing. I only carry cards I am likely to use. I remove cards during time periods they will not be used to avoid misplacing them. I have a list of all my cards with issuers and phone numbers to call if lost or stolen just in case. I hope I never need the info.

 

The BOA card you mentioned higher on the thread sounds interesting. Maybe that could work for you. 

 

In a prior post I did not mean to turn you off to BCE or American Express products. My BCE can be problematic at times. I default to DC until the issue is resolved. My favorite was noting on the electronic account that my grocery spend was being paid as 1% because I exceeded the 6k limit. The rewards year is a calendar year. This was in February or March of that year. I didn't spend 6k on BCE at that time much less grocery. I phoned cs. The rep told me I am at 1%. I asked her to review the account. She agreed that I didn't spend 6k YTD. She told me the 1% applies because "it's in the system".

 

She referred to someone else. He said it will take two months to investigate. Back to DC while Amex does what they do. Eventually I received a VM advising that the 3% will be paid. That's the kind of stuff that makes my eyes roll. Smiley Happy 

 

 

Message 52 of 76
Save-n-Invest
Frequent Contributor

Re: 40 yrs old & 1 CC(!)

@EastTortall 

 

I was just looking at the BOA cash back rewards card. It looks like there is a $25.00 minimum redemption. Again, please verify. I don't have this card. 

 

Possibly a 1.5% cash back Visa would be the settled for to earn rewards at Costco without minmums or waiting periods. If your spend at Costco is high enough maybe the half penny is not as important as the quick painless redemption. 

 

Message 53 of 76
MaizeandBlue
Senior Contributor

Re: 40 yrs old & 1 CC(!)


@Save-n-Invest wrote:

@EastTortall 

 

I was just looking at the BOA cash back rewards card. It looks like there is a $25.00 minimum redemption. Again, please verify. I don't have this card. 

 

Possibly a 1.5% cash back Visa would be the settled for to earn rewards at Costco without minmums or waiting periods. If your spend at Costco is high enough maybe the half penny is not as important as the quick painless redemption. 

 


@Save-n-Invest The BofA Cash Rewards card no longer has a minimum redemption requirement.  They changed the rules when they implemented the  multiple 3% categories.  Previously you were limited to 3% gas, 2% groceries, and 1% for everything else.  It was the reverse of the Amex BCE that offers 3% groceries, 2% gas, and 1% on everything else.

 

And since we're recommending cards, how about the U.S. Bank Cash+ card.  Its a 5-5-2-1 card meaning you can select two 5% categories, 1 2%, and 1% on everything else each quarter; and there's no minimum redemption.

 

Screen Shot 2020-06-15 at 2.16.10 PM.png





Message 54 of 76
EastTortall
Established Member

Re: 40 yrs old & 1 CC(!)

@Save-n-Invest  I don't need it for Costco in specific, it's just one of the groceries I use and since I only have a Disco and they don't take that..I thought it was a shame that I had to use my Visa debit when there, and not get any rewards or cashback (I actually don't even have a membership anymore, I usually go with a a friend who's going anyway). I don't spend a ton there, maybe $150 every 2 months.

 

I'd just like to slowly add to the Disco I've had for 2 yrs (my first and only real CC that I'm now comfortable using and have become familiar with). If I do AZEO, I'd need 2 more cards, but I'm okay adding 1 new CC now and another in a bit, so I can take things slowly and see how I manage a new CC (I hate headaches Smiley Wink )

 

Thank you for the tip about keeping track of category limits!out if curiosity, when are bonus quarters announced (how far before new month starts)? And is it generally for one month only?

 

Thanks for the tip on keeping a list of cards and numbers, in case any are lost.

 

You didn't turn me off fully from BCE, but I'm more wary, and that's fine Smiley Happy Like I said, I need the least-headache now. 

Message 55 of 76
EastTortall
Established Member

Re: 40 yrs old & 1 CC(!)

@MaizeandBlue Thanks for clarifying about the BOA cash back rewards. 

 

Is the US Bank Cash+ quirky at all? I was explaining above that I need the least-headache cards now as I slowly branch out from my sole CC (Discover) and raise my credit score. 

 

 

Can you pick the 5% categories, monthly? Is there an AF?

Message 56 of 76
MaizeandBlue
Senior Contributor

Re: 40 yrs old & 1 CC(!)


@EastTortall wrote:

@MaizeandBlue Thanks for clarifying about the BOA cash back rewards. 

 

Is the US Bank Cash+ quirky at all? I was explaining above that I need the least-headache cards now as I slowly branch out from my sole CC (Discover) and raise my credit score. 

 

 

Can you pick the 5% categories, monthly? Is there an AF?


@EastTortall I'm not sure what you mean by "quirky."... as you've no doubt noticed, all the credit cards discussed so far have their own little quirks in terms of cashback redemptions, etc.  Like the other cards mentioned so far, the U.S. Bank Cash+ card does not have an annual fee and you can choose the 5-5-2 rewards categories each quarter.





Message 57 of 76
EastTortall
Established Member

Re: 40 yrs old & 1 CC(!)

@MaizeandBlue  I should have explained- by quirky, I meant was there anything to be aware of that people had encountered (like a few posts up, the BCE had given someone issues with cashback).

Message 58 of 76
EastTortall
Established Member

Re: 40 yrs old & 1 CC(!)

@MaizeandBlue  Also, I see by your signature that you seem to be familiar with NavyFed. Is that a card option for me (I'm a USAA insurance member if that helps)?

 

Can I ask why people speak so highly of their cards? Smiley Happy

Message 59 of 76
Save-n-Invest
Frequent Contributor

Re: 40 yrs old & 1 CC(!)

@EastTortall , Discover announced the bonus quarters for the year quite a while ago. Freedom announces about two weeks before the beginning of the quarter. Discover has a spend analyzer for categories on the electronic account. Freedom has a progress bar. Activation is required each quarter for both to enjoy the 5% reward. Each quarter is three months. They are the regular calendar quarters. 

 

My envelope method may be too much of a hassle for you. I save receipts for tax purposes. Many items from my grocery trips are taxable. IRS likes documentation. 

 

Posters here have given you some good leads on cash back Visa cards. You have some good choices Smiley Happy

Message 60 of 76
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