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You need to work the credit card system if you have yet to...


Sol Diabler
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Every penny I spend goes on Amex Blue or my Visa Signature. Cash back so far this year is about $300. I haven't used my debit card in so long they recently cancelled it and I had to get a new one. I don't have any major monthly purches that will ramp it up but I'm content with them giving me money and paying no interest.

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Every time you open or close an account it can impact your credit score

Sure but it can also benefit you. You add credit to total available credit and lower you credit utilization percentage due to having more available. If you have decent credit to begin with, taking advantage of these sorts of things will actually benefit your credit score.

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Sure but it can also benefit you. You add credit to total available credit and lower you credit utilization percentage due to having more available. If you have decent credit to begin with, taking advantage of these sorts of things will actually benefit your credit score.

In the short term opening new accounts can and will negatively impact your credit score because of inquiries. But JoSeph is absolutely correct. In the long term it's beneficial because it raises your available credit and lowers your debt to credit ratio :cigar

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In the short term opening new accounts can and will negatively impact your credit score because of inquiries. But JoSeph is absolutely correct. In the long term it's beneficial because it raises your available credit and lowers your debt to credit ratio :cigar

Exactly. I was toying with piglet cop. I was a realtor and part of getting your licensing you had take a credit course where they explain how , why, and how much things change your score. Inquires really aren't a big deal when it comes down to it. Getting more credit and using less of it is almost always good.

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I only have 1 cc.  It's a chase business card.  I spend anywhere between 5k and 10k per month.  It pays 3% back at gas stations, hardware, office supply,  and grocery stores.  It pays 1% on all other purchases.  I usually get at least $1,200 per year.  

 

I use my Chase Sapphire card if I'm not taking advantage of the airline deals.  Chase Sapphire is very similar to the one you use as far as cash back.  Free money.

 

But if you are going to travel anyway, the cash back on that card does not even touch the money you could save on airline tickets.  

 

The $4k I spent on those airline cards was worth over $1,500.  That $4k on my Chase Sapphire card would be just over $40.  

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I use my Chase Sapphire card if I'm not taking advantage of the airline deals.  Chase Sapphire is very similar to the one you use as far as cash back.  Free money.

 

But if you are going to travel anyway, the cash back on that card does not even touch the money you could save on airline tickets.  

 

The $4k I spent on those airline cards was worth over $1,500.  That $4k on my Chase Sapphire card would be just over $40.  

 

No doubt about it.  

 

I am not a fan of flying.  I try and avoid it if at all possible.  I actually drove from PA to orlando two weeks ago when amtrak cancelled due to bad weather in the carolinas.

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I just signed up for American Express Blue Cash Card or whatever.  They sent me an RSVP code so I signed up and got approved in 30 seconds.  Spend $1,000 in the first 3 months and you get back 250 cash on your statement.  I'm moving to my new house in a few weeks so I'll be buying a TV which will get me close already to the $1,000.  No annual fee and 250 bucks for buying something I was going to anyways, wonderful.

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Discover it and chase freedom have quarterly 5% cash back reward programs.    Stuff like gas, restaurants, dept stores etc.

 

AMEX BLUE CASH is 6% on groceries which is an absolute must.

 

My debit card is only for direct deposit from work and withdrawing from ATM.  Every purchase I make is with CC's and I pay them off immediately every Monday.,

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