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Another credit card thread
Posted on 12/3/12 at 10:27 am
Posted on 12/3/12 at 10:27 am
Hey guys,
Want some advice. I have a 799/745 credit rating with Experion and Transunion. I own three cards, one a local credit union with a $5k limit, Discover card with a $5k limit and a Bank of America card with a $10k limit. I know it hurts your credit if you cancel cards but thinking about cancelling my discover and bank of america and going with a rewards card. Problem is I don't know what are the best and what rewards to go with, i.e. airmiles, cash back, etc.
I do travel at work, but the company pays for my airfare and I don't charge it directly. I do pay for my hotel and anything else other than the rental car. Was thinking airmiles cause I do fly for LSU games or to Cali once a year.
Only debt is my mortgage and a car note. Car note is linked to my checking account, so I can't pay that with my credit card, not sure about my mortgage, but I would doubt it. I can pay most of my other bills on a credit card.
TIA
Want some advice. I have a 799/745 credit rating with Experion and Transunion. I own three cards, one a local credit union with a $5k limit, Discover card with a $5k limit and a Bank of America card with a $10k limit. I know it hurts your credit if you cancel cards but thinking about cancelling my discover and bank of america and going with a rewards card. Problem is I don't know what are the best and what rewards to go with, i.e. airmiles, cash back, etc.
I do travel at work, but the company pays for my airfare and I don't charge it directly. I do pay for my hotel and anything else other than the rental car. Was thinking airmiles cause I do fly for LSU games or to Cali once a year.
Only debt is my mortgage and a car note. Car note is linked to my checking account, so I can't pay that with my credit card, not sure about my mortgage, but I would doubt it. I can pay most of my other bills on a credit card.
TIA
This post was edited on 12/3/12 at 10:29 am
1
Posted on 12/3/12 at 10:48 am to Weaver
What does this:
Have to do with this:
Just leave them open, unless there is a fee.
Also, what are your biggest expense categories on your CC?
ETA:
You should probably get the AMEX for whatever hotel chain that you use for business travel, with the possibility of getting another one as well.
quote:
cancelling my discover and bank of america
Have to do with this:
quote:
going with a rewards card
Just leave them open, unless there is a fee.
Also, what are your biggest expense categories on your CC?
ETA:
quote:
I do pay for my hotel and anything else other than the rental car.
You should probably get the AMEX for whatever hotel chain that you use for business travel, with the possibility of getting another one as well.
This post was edited on 12/3/12 at 10:51 am
Posted on 12/3/12 at 12:55 pm to TheHiddenFlask
quote:
Just leave them open, unless there is a fee.
Just didn't want to have four, but I could just keep them.
quote:
Also, what are your biggest expense categories on your CC?
Per year, probably my auto insurance. Outside of that probably gasoline. I can pay my car note via credit card, so if I did, that would be my biggest by far. Then my cable bill then cell phone bill. I pay cash for most of this stuff, but thought if I could just charge everything and then pay it off each month, perhaps I could get cash back or some other benefit by doing so.
I like Hilton hotels. I try to stay there for work, i.e. DoubleTree, etc.
Posted on 12/3/12 at 12:58 pm to Weaver
Posted on 12/4/12 at 1:07 pm to BACONisMEATcandy
Was thinking that or Southwest Credit Card with Chase.
Posted on 12/4/12 at 2:31 pm to Weaver
quote:
probably my auto insurance.
quote:
Outside of that probably gasoline.
You pay more for insurance than gas? How is that even possible?
quote:
I can pay my car note via credit card
Is there any fee for doing this? This would be a sweet way to pick up ~10 free bucks a month.
quote:
Then my cable bill then cell phone bill
From this, it sounds like you need a general points card. I would recommend the capital one venture. It has a fee, but will more than pay for itself (if you put more than 8k a year on it).
I can't believe you don't have food on your list. If you eat out a lot, the Citi forward card will give you 5% points back, redeemable for gift certificates. It also has no fee.
If you go with the HHonors card, it's probably worth upgrading to the surpass if you spend more than 10 nights a year in Hilton hotels.
Posted on 12/4/12 at 7:13 pm to TheHiddenFlask
quote:
You pay more for insurance than gas? How is that even possible?
U are probably right. I do spend more in gas than insurance. $850 every 6 months for car insurance and about $100 per month in gas.
quote:
Is there any fee for doing this? This would be a sweet way to pick up ~10 free bucks a month
If there is I believe I pay a small fee now for paying from my checking account. I will have to look into this to be certain.
Groceries too. I don't spend a ton, maybe $100 per month.
Thanks for the advice. I think I need to do a budget and see where my money is going and see what I can do if I decide to go with a rewards card instead.
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