my parents actually signed me up for my current only credit card as a birthday gift. i need advice on where to get another one.
Current card: DISCOVER it chrome card since december 2023
FICO Score: 774
length of credit: 2 years
Average monthly spend: $400
grocery: ~$150
gas: $120
(everything else is misc. shopping, mostly amazon for the cash back)
Open to Business Cards: i don't know what that means
What's the purpose of your next card?: cash back, building credit. cash back would be nice on essentials like groceries and gas. i commute to school. minimum 2x a week.
Do you have any cards you've been looking at?: no thats why i'm here actually
Are you OK with category spending or do you want a general spending card?: i don't know what that means either
parents say i should get another credit card and didn't give any actual advice ¯_(ツ)_/¯
byu/2feef2furious inCreditCards
Posted by 2feef2furious
6 Comments
You don’t need another credit card. You’ve built solid credit history while earning cash back. As a student you’re not spending enough to justify doing anything different from your current setup–which seems to be working great. Check back after you graduate or have some other big lifestyle change.
I like the Amex Blue cards for grocery, 3% back with Blue everyday, no AF, or 6% back with Blue Cash Preferred with $95 AF, and the Disney Plus benefit offsets the AF. For restaurants, I prefer PayPal Debit, and get 5% back on that.
A good all around card would be good to get, 3% with Robinhood Gold (do you have a retirement account?) or one of the 2% cards
What kind of birthday gift is signing you up for a credit card?
Anyway, you don’t spend enough for any of this matter. Just keep using that one and check back in after you graduate and start getting some real money and expenses
paypal debit for 5x on gorcery or other category while it lasts
fidelity visa for a good 2x card that introduce you to investing while also have some perks
altitude connect. a good no fee travel card with 4x on gas
With ur current spending, I wouldn’t worry about credit cards too much till later in life
IMO don’t optimise for rewards, churn bonuses. Some cards like the beginner ones from Chase offer $200 back after $500 of spending, which you will hit in over a month. That $200 would take you quite a while to get from rewards even if you get 5% on bonuses from every cent of spending.