The best CC's for all the different categories. Giving and looking for recommendations.

Question

Hopefully this will help others just as much as it'll help me. I'm looking to add one or two more CC's (maybe more, you know how it is =P) to my wallet soon to end up with a total of 4-5 maybe 6 CC's.  I currently have a Sears store card $6k, QS1 $9k, and DCU Platinum $15k.  I'm trying to cover all my bases to round out my wallet for best savings, utilization, and earnings... 1) Low APR: I already have my low APR CC in case i need to carry a balance - DCU Platinum Visa with a 8.5% APR.  It was super easy to qualify for.  The instantly approved me when i applied for my auto loan.  They offered a $5k limit, i told them i needed a $20k limit, the countered with a $15k limit.2) Everyday Cash Rewards: I already have an everyday cash rewards CC for more of my spending - QuicksilverOne which is of course 1.5% cash back on everything (I plan to PC to Quicksilver with no AF or maybe get a JCB Marukai [3% cash back but really low credit limit] or Citi Double Cash [2% cash back})3) Gas Rewards: I need a gas rewards card since i work in the auto industry and i spend a lot on gas. Considering a Sallie May MasterCard for the 5% cash back on the first $250 of gas.  Only thing about that is i spend much more than $250 on gas a month.  What else would you folks recommend?4) Super High Limit: I'm also looking for an easily attainable super high limit CC.  There's been talk about Lowes offering credit lines in the $30k+ range.5) Rotating Rewards: Looking for a rotating rewards card.  I'll probably apply for a Discover IT card since i have good history with them, paid on time and in full and closed account years ago.  Some people advise to get two rotating rewards cards, so maybe Chase Freedom?6) "Baller Status": Maybe looking for the "baller status" card eventually but this is less of a priority for me.  Maybe Chase Sapphire Preferred or Amex Gold or Platinum?  CSP is made of metal and looks nice.  Amex seems to cater to the upper percentile. Any suggestions to consider?  Other categories i may have missed?

Answer 1

Monoglot wrote:
jfriend33 wrote:
kdm31091 wrote:
Discover IT is much nicer than Freedom IMO, on a cash back basis (without a CSP). Broader categories. You don't really need both unless you want both, because they are very similar throughout the year albeit at different times. General spend, well QS and DC are really not terribly different. If you have the QS, no reason to really rush and upgrade to a DC unless your uncategorized spend is very large as the difference is not going to be great. As far as gas yes the Sallie is an option for 5% up to 250, then you could have a second card like BCP or Cash Rewards, etc for 3% on the remaining gas spend. BCP does have an AF though. "Amex catering to the upper pecentile" is just a mere stereotype. They aren't any more high end than any other issuer. Point is, if you aren't really interested in their products, getting an Amex just to have an Amex is not necessary. As for CSP, run the numbers. Takes a good deal of spend to justify the fee. This +1 Couldn't agree more!  Unless you are a churner, which if you are, you better get that CSP/Freedom ASAP.... I will say as much as I hate chase bank, you could wait for the freedom to have the $200 sign up bonus, and double app for the CSP. This would net you 60k UR points which are slightly more versatile than Amex MR points. Then you can earn 5% rotating, dont take cash, send points to CSP, then xfer those to your company of choice...and only use CSP for dining/travel expenses. The 95 dollar fee is kinda high. If you only spend 500 a month on dining/travel, thats 6 grand in a year, or 12k UR points. If they were redeemed at their 2cents a point average, thats only $240... less the fee is 145. Not to mention their min spend would be 3500 for csp/freedom in 90 days.  Bank Of America may be your ticket. And I am not just saying that because I have one in my signature. However, they do offer generous limits, I have seen as high as $40k. Their rewards are good but not great though.  Your best bet is a trio of cards like you said.  Discover for double cash back (great for black friday shopping).  How much do you spend a month on everything?  Its going to boil down to which categories you need besides gas. How much gas a month do you spend? What are your scores? The marukai is nice but you have to spend a certain amount first to even begin earning the 3%....scroll down to spending table: http://www.doctorofcredit.com/credit-cards/cash-back/marukai-premium-jcb-card-review/  I recently discovered this and saw you have to spend a min of 20 grand a year just to get the 3%. I am sure I could run everything on a card, but 3% cash back...not great compared to other rewards and signup bonuses.... Would I say NO if chase offered me the CSP and freedom? Maybe...probably not. But still, the 2 grand in 90 days you would spend for Amex ED and PRG, that could net you up to 1500 or more in rewards..... You spend 4 grand with the CSP you will barely get 800.  Is that table accurate?... I wanted to get that card, but if that table is accurate, I see no point of getting the JCB for a college student like myself.On small spends, the difference between a tiered 3% and a 2% card is going to be very small.   I didn't know about this though: For every $100 you spend you’ll receive 1-3 JCB cash back points, depending on which tier you’re currently in (see above). This is calculated on a per month basis (e.g if you make $99 in purchases for a month you’ll receive no cash back points). That reduces the earnings, as on average you could lost the points on $50 each month, and up to $99.99.    But if you can put  nearly all except your 5% spend on it, I guess that doesn't matter that much.