Back story: 26M
Income: $150,000-$180,000
Credit score: 833
Expenses: Gas, dining, grocery, insurances, shopping, (not travelling as much as I should)
Just took out a loan on a car 2 weeks ago with an interest rate at 5.1 if that makes a difference in any decision.
Current cards:
Discover: (also my longest card since 2019)
Earn 2% Cashback Bonus® at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus earn unlimited 1% cash back on all other purchases.
Plan: I called to try and convert it/upgrade and they are not allowing that. So I plan on using it only for a Spotify Bill of $10 or should I stop using this ?
Bank of America:
Student card with NO CASH BACK OFFERS.
Plan: I also called to try and convert/upgrade and they are not allowing that, only applying for a new credit card. It’s paid off I owe $0. Plan is to not use it anymore and let it sit until they close my account ?
*also the loan for my car is with Bank of America*
Citibank:
Custom cash: 5X
Thank You® Points on the first $500 spent in the eligible category where you spend the most each billing cycle
Plan: Keep it.
As you can see I only have 1 good credit card which is the citibank. Would it be alright/necessary to apply for 2 more credit cards ?
Potential setup:
- Apply for Amex blue cash everyday:
Grocery: 3%
Online retail: 3%
Gas station: 3%
Any other purchase: 1%
With my Citi custom cash:
If I can only pick one category it will be *Restaurants – 5%
*covers almost everything except in store purchases* – pharmacy ? Walmart ? Mall ? Shopping ? Home depot? Etc.*
- Apply for Amex blue cash preferred:
Grocery: 6%
Gas station: 3%
With my citi custom cash:
If I can only pick one category it will be *Restaurants – 5%
Apply for Apple Card to help cover that gap of online purchases and in store purchases with Apple Pay ?
In store purchase/online retail with Apple Pay: 2%
All apple products, Uber, gas station, Nike, walgreen: 3%
*I use my Apple Pay everyday and for almost everything*
And put my earnings in there HYSA ?
-also chase and jp Morgan just bought the Apple credit card so I wonder where that’s gonna go.
- Get Amex blue cash everyday:
Grocery: 3%
Online retail: 3%
Gas station: 3%
Any other purchase: 1%
With my Citi custom cash:
Restaurants – 5%
*And wait till one day I get accepted for the Robinhood Gold card? I’m on the waitlist still and wouldn’t mind getting
3% cash back but I don’t really use there platform as much and I don’t meet the criteria just yet to be off the waitlist (I spoke with a representative)*
I am leaning towards the second option but I would like to hear everyone’s opinion and be educated on what to do next or if there’s another credit card to check out.
Any help would be appreciated thank you.
Need some insight on acquiring a new credit card
byu/516Jose inCreditCards
Posted by 516Jose
1 Comment
You have terrible cards right now. Call/text discover and upgrade to discover it and get 5% rotating categories. Call BofA and upgrade to Customized Cash Rewards Credit Card. (none of this will affect your credit score)
Then get then Amex blue everyday card. Stay away from robinhood gold