Hi there! I’m a 26 yo M. I have about 25k$ in my bank account. Currently investing on acorns (1k) and just started with fidelity. Looking to get a credit card and torn between a few options.
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Amex blue cash preferred – 6% back on groceries, $0 annual, 95 per year after 1 year
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Citi double cash – 2% back on everything, 0$ annual
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Discover it – 5% back rotating categories, 1%, 0$
Paying off school loans still, my credit score is in the 800s and I consider myself pretty financially responsible
Thoughts on which card for me? Open to suggestions as well. Thanks.
Which credit card for me? Open to suggestions
byu/Ryan9320 inCreditCards
Posted by Ryan9320
4 Comments
No advice for you as i’m new myself, however just reading that you use acorns I love to see that. I’m currently at 5k on acorns and i’ll never turn back. such a great app.
If you do not have any credit history getting most cards will be impossible. You may want to start with a secured credit card from Capital One. Discover used to be another option but is now owned by Cap1. After several months of on time full payments, Cap 1 will refund your deposit and may upgrade to a better card such as Quicksilver.
You could potential get the first 2 cards and use them together so that you’ve always getting at least 2% cash back (I have the BCP and love it). However If you’re already investing with Fidelity, I would look into the Fidelity Visa as an alternative of the Citi Double Cash. It’s a highly recommended card on this sub reddit. 2% cash back on everything and can link directly to a CMA if you have one with Fidelity. No foreign transaction fee so it’s great to use for international travel and you also get a $100 rebate on Global Entry/TSA Pre Check ($120).
Amex and Discover aren’t as widely accepted, so I’d suggest the Citi Double Cash between the three since it’s a Mastercard.
It has no annual fees as well which can be nice.
If you’ve never had loans or another credit card, you’ll need to apply at the bank with your checking account though for best chance of actually getting approved IMO.
Does that all make sense?