CREDIT PROFILE
* Current credit cards you are the primary account holder of:
* Citi Simplicity $24,000 limit, 2013 – $0 balance currently
* FICO scores with source: Experian 776, Well Fargo 817, Citi 781
* Oldest credit card account age: 13 years
* Cards approved in the past 6 months: 0
* Cards approved in the past 12 months: 0
* Cards approved in the past 24 months: 0
* Annual income $: 80,000
CATEGORIES
* Ok with category-specific cards?: Yes
* Ok with rotating category cards?: Yes
* Estimate average monthly spend in the categories below.
* Dining $: 400
* Groceries $: 400 (Factor Subscription)
* Gas $: 120
* Travel $: 0 (don't travel regularly)
* Using abroad?: no
* Other categories or stores: Subscriptions – Amazon, Netflix, Factor, Apps via Google Play
* Other spend: no
* Pay rent by card? Yes? (I think), amount and fee: $2100 – actually not entirely sure on fees, but rental company uses Bilt if that helps
MEMBERSHIPS & SUBSCRIPTIONS
* Amazon Prime member: Yes
* Big bank customer: Wells Fargo
PURPOSE
* Purpose of next card: Other
* Cards being considered: No. Too many/overwhelmed.
ADDITIONAL INFO
The way I have approached my credit card in the past was I have all of my recurring payments hit my credit card each month. I then have auto-pay setup to pay off the balance every month just to keep the card active and maintain a credit presence. There are sometimes larger, irregular costs applied (car insurance, vacation travel and car rental, etc.) applied as well. I am looking for a lower APR (for when I can't pay the balance immediately) and/or getting rewards or some other benefit from the charges.
Posted by Taurus517
3 Comments
I like picking a card that complements what I already have for example, if your current one is flat cash back, a travel-oriented one or a rotating category card can balance things out.
I always recommend a credit card that earns unlimited 2% cash back on all purchases with no annual fee as one’s second credit card, after outgrowing the starter/student/secured card stage. Sets the baseline for cash back you can expect on all the spending you can route via credit cards, and is the metric against which you weight the value of any new cards. The Wells Fargo Active Cash would suit you excellently, given you’re already a Wells Fargo customer and are looking for something simple to throw all your spending at.
A perfect Case study example for the Capital One Savor card.
No AF, 3% back on Dining and Groceries.
Many cards only have one or the other so this is ideal versatility for your spend.
It also pairs very well with the C1 Venture C if you ever want to change into a travel setup, VX/Savor is probably the best one-bank simple setups.
Other options for versatility: Amex Gold is 4x back but has a $325 you might not be able to offset because it’s through multiple sources, and Amex’s cash back rate is low.
Bilt wouldn’t hit 3% back on spend unless you get one of the AF cards, and since you wont use the hotel credits that offset the AF, those probably aren’t great options.