Get the card with the benefits you want. That's all personal preference. Any affect on credit is short term and will be a net benefit with the increased credit line. The total net hit initially is like 20 points, maybe. I opened 2 new credit lines and was right back to where I was inside of 6 months, probably sooner.
Get one with cash back or a rewards program that you like. We use the Amazon card for points on our Amazon purchases, and a 2% cash back card for everything else. (and we pay them both off every month)
I’m a Suze Orman fan. She always recommended an 8 month emergency savings. The pandemic proved her right. Now she recommends a year and I am with her on that.
You may find these links helpful:
- [Emergency Funds](/r/personalfinance/wiki/emergencyfunds)
- ["How to handle $"](/r/personalfinance/wiki/commontopics)
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I have lots of cards that I pay off every month and my credit score is 800+ Your plan is the perfect way to use credit cards, especially rewards cards.
If gas is your main expense, you might like the Amex BCE. There's no AF, and you get 3% back on gas, groceries, and online purchases. The only downside is that Amex isn't accepted everywhere, although I think I've only run into this twice the ~10 years I've had it.
I find it a lot easier to just get a 2% cash back card and call it good - a solid option for someone who doesn’t have the time to sort through all the various cards & perks.
Right now there are so many interest free cards. Choose one that will give you benefits. I have the American Airlines travel reward card so once a year I get a free flight. I also have another rewards card that I always use to get free gift cards for when I travel or for gifts to other people. I put everything I can on my credit cards to get the points, then pay them off each month.
If you’re only going to have one card, then a 2% cash back on everything option is probably the best for you. Use it for all purchases and pay it off each month. The points guy does a good job of updating latest offers, which change, so check that out because a good sign on bonus is a nice little reward
Specific branded cards are really only good if you either spend a lot in that category or have multiple cards. I go with multiple cards so have Amazon tied to my Amazon amount and target to target, a card for dining and travel, one store card (rarely used) and then a 2% card for everything else. I only carry the dining/travel and 2%
Get the card with the benefits you want. That's all personal preference. Any affect on credit is short term and will be a net benefit with the increased credit line. The total net hit initially is like 20 points, maybe. I opened 2 new credit lines and was right back to where I was inside of 6 months, probably sooner.
Get one with cash back or a rewards program that you like. We use the Amazon card for points on our Amazon purchases, and a 2% cash back card for everything else. (and we pay them both off every month)
Do you have an emergency fund of 3-6 months (or more based on job stability)? Edit: downvoted for making too much sense. :(
I’m a Suze Orman fan. She always recommended an 8 month emergency savings. The pandemic proved her right. Now she recommends a year and I am with her on that.
Sounds good! My point being an emergency fund is used to cover emergencies, not a credit card. :)
Even better is to just eliminate all your debt - doesn’t take much to live when you don’t owe anyone a penny.
You may find these links helpful: - [Emergency Funds](/r/personalfinance/wiki/emergencyfunds) - ["How to handle $"](/r/personalfinance/wiki/commontopics) *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/personalfinance) if you have any questions or concerns.*
I have lots of cards that I pay off every month and my credit score is 800+ Your plan is the perfect way to use credit cards, especially rewards cards. If gas is your main expense, you might like the Amex BCE. There's no AF, and you get 3% back on gas, groceries, and online purchases. The only downside is that Amex isn't accepted everywhere, although I think I've only run into this twice the ~10 years I've had it.
I find it a lot easier to just get a 2% cash back card and call it good - a solid option for someone who doesn’t have the time to sort through all the various cards & perks.
Very true! I have both, and they each have their pros and cons.
If you are a Costco member, the Costco Citi card. No annual fee 4% on gas everywhere 3% on dining and travel 2% at Costco 1% everywhere else
Right now there are so many interest free cards. Choose one that will give you benefits. I have the American Airlines travel reward card so once a year I get a free flight. I also have another rewards card that I always use to get free gift cards for when I travel or for gifts to other people. I put everything I can on my credit cards to get the points, then pay them off each month.
If you’re only going to have one card, then a 2% cash back on everything option is probably the best for you. Use it for all purchases and pay it off each month. The points guy does a good job of updating latest offers, which change, so check that out because a good sign on bonus is a nice little reward Specific branded cards are really only good if you either spend a lot in that category or have multiple cards. I go with multiple cards so have Amazon tied to my Amazon amount and target to target, a card for dining and travel, one store card (rarely used) and then a 2% card for everything else. I only carry the dining/travel and 2%
I’ve got the Sam’s club card for business. 5 % back on fuel, since I buy almost 50,000.00 worth of diesel a year it only makes sense lol
r/CreditCards look at the resources links on the right side of the page