Hi all, used the template. Feel like I'm missing out on some opportunities,
My thoughts on cards:
- I feel I've outgrown my BofA card as a daily spend. I might just get a Savor and call it a day, but I'm unaware of and am curious about the Chase ecosystem
- I doubt I'll put in the effort get the "most out of" Amex Gold. Am very busy but moreso lazy. I've forgotten to make 5 transactions on BILT 2x now lol
About me:
- No car
- I travel direct (usually only United) and basic economy, no checked/carry on, 4-5x a year. Each flight usually costs me 300-500, does it get better than the VX?
- I don't cook often -> no groceries, but eat free 3 days/week. So I eat out 8x a week.
- I probably spend 40/week on uber and get uber eats 1x a week.
CREDIT PROFILE
Current credit cards you are the primary account holder of:
- BofA Customized Cash Rewards
- BILT
- VentureX
FICO scores with source: TransUnion 748
- Oldest credit card account age: 4 years
- Opened BoFA 4 Years ago, VX 4 months ago, BILT 8 months ago
Annual income $: 190k
CATEGORIES
Estimate average monthly spend in the categories below.
- Dining $: 400
- Groceries $: 50
- Gas $: 0
- Travel $: 200
- Using abroad?: no
- Other categories or stores:
- Other spend: gym membership, all subscriptions
Pay rent by card? BILT
MEMBERSHIPS & SUBSCRIPTIONS
Amazon Prime member: Yes
Big bank customer: BofA, Capital One
PURPOSE
Purpose of next card: Travel Rewards and Daily spend
Travel rewards preferences: United Airlines
Cards being considered: Chase Sapphire Preferred, Robinhood Gold, C1 Savor
I want to upgrade my current credit cards
byu/ShameForward3635 inCreditCards
Posted by ShameForward3635
4 Comments
Savor would pair nicely with your VX. Chase ecosystem is probably a bit better than capital one, but you’d need the CSP and one of the Freedom cards. Easy route is to stick with capital one by adding the savor card.
Don’t take out an Amex Gold if you are not willing to coupon unless you really want the SUB
BoA CCR is a great card for one thing – buying anything online. Outside of that it’s not particularly useful. Keep it, set the category to online shopping, use it to buy things on your phone/PC, and never swipe it in person again.
Are you in a position to get 100k in BoA via using them for banking and Merrill for investment services? If yes, there’s things to consider with BoA if you can get Platinum Honors.
If not just get the Savor it sounds like
The BoA setup might be great for you given your high income.
Do you have $100k in your bank of America or Merill Edge accounts that give you Platinum Honors?
If you do, you’re getting a 75% bonus on the cashback.
If you get the premium rewards or premium rewards elite card, you will be getting a 2.625% cashback on all spend, 3.5% cashback on dining and travel (and their categories are coded more expansive than other banks).
The you can add a CCR card every 1-2 years and carry multiple cards for different catgmegories. With those cards you are getting 5.25% back on your chosen categories + 3.5% back on warehouse clubs and groceries.
Remember that the online shopping category can be used for cell phone plans, cable, and internet.
Shift 100K into whatever Merrill/BoFA account is applicable to your life to get Plat Honors status if you don’t already have that and get the Premium Rewards.
That’s 2.625% catch-all and 3.5% of Dining and Travel. That’s basically like a Savor and VX combined.
Annual fee is $95, but you get an annual $100 credit you can just dump on United Travelbank credit, which you fly, so it’s quite literally +$5 to hold onto like VX.
Set your CCR to online purchases and just have it saved on your computer or whatever you use for online purchases and get 5.25% on the vast majority of things you buy online. Which is most things. Those United tickets? Probably online through the site. Amazon? Online.