Hi, I just applied for and was approved a Robinhood Gold Card with a 10k limit, this is just a few days after I applied for and received a Citi Double Cash rewards card. my plans for these cards is to use them for my work per diem costs which are reimbursed monthly to get as much as I can in returns, the charges will mostly be grocery stores, restaurants, and fuel. I'd also eventually like to shift my everyday spending to one of these cards and pay them off biweekly with my regular paycheck.
Anyway my question is does anyone have insight on which would be better to use in these cases? Im kinda new to this process of efficiently maximizing rewards from my credit cards. I assume I should just default to the gold card unless there are any specific larger multipliers to use with citi?
For further information I also cover all my travel expenses on my Venture One card which are all reimbursed and have been building up miles incredibly fast.
anyway thats it! Any advice would be greatly appreciated and I apologize for the naivety of my question! thanks!
Just got the Robinhood Gold card.
byu/dappel2007 inCreditCards
Posted by dappel2007
9 Comments
Why would you apply for the DC if you have the Robinhood Gold? There is no scenario in which it would be better for you to use the Citi card. If you have a SUB, get that then sock drawer it until you can product change to a Custom Cash.
You use the Double Cash until you hit the spend requirement for the sign up bonus.
Then you use whatever gets you the best returns.
It’s very straightforward.
Why use any other card if you’re getting 3% back on Robinhood Gold?
Don’t need to pay bi-weekly, just setup auto pay for statement balance on due date.
I think you’re thinking too hard but yeah like others said just use the RH Gold since it’s 3% on everything unless they change something. Maybe consider the C1 savor since you have the venture, so you get C1 miles with 3% back on grocery and dining. Same 3% but you can use transfer partners to get more value. But maybe might be too many cards in a short time.
Your paying strategy seems good. You just need to pay off statement credits fully by their due date.
You have to spend $26,000 on the RH Gold card before you break even compared to Double Cash, factoring in RH Gold’s effective AF and DC’s SUB. RH is not as mind-blowing as people will lead you to believe.
Since you ended up with both, be sure to get that DC SUB and then go ahead and use RH Gold for everything that qualifies. There are some cashback exceptions for RH Gold that don’t apply to DC.
Longer term, I recommend moving from Venture One to Venture or Venture X to accumulate 2x points rather than 1.25x points for use on travel. V and VX have better travel perks too.
If you like travel points, you should put your general spend and travel spend cards in the same ecosystem to maximize returns. For example, you could move all your spending to the Capital One duo (Venture or Venture X + Savor) or Citi duo (Double Cash + Strata Premier) and capture a lot more points that you do currently.
Yeah, the Gold card’s 3% is pretty sweet for everyday stuff like groceries and gas. I’d just keep an eye on Robinhood, though; seen some weird stuff with their accounts freezing up.
Kinda in the same scenario with my old fidelity visa.. I am sock drawing the Fidelity and put all my annual subscriptions on it.. Using gold as my catchall in my core setup..
How did you get approved so fast!?