The Capital One Duo plus BILT will get you quite far.
The Wells Fargo Autograph offers 3% on EV charging, transit, and travel with no annual fee.
Zaid said:
The Capital One Duo plus BILT will get you quite far.
The Wells Fargo Autograph offers 3% on EV charging, transit, and travel with no annual fee.
Which option would you recommend? I’m not sure how long it will take me to acquire the Capital One Duo plus BILT.
@Vick
Your credit history is solid, and your income is high. You should be able to qualify for any of these cards. I’d suggest starting with BILT and Savor—apply for them on the same day. Your credit score might dip temporarily, but you could wait six to seven months before applying for Venture X. Use BILT as a reliable travel card until you get the Venture X. If premium travel benefits like lounge access matter a lot, go for Venture X before Savor.
@Zaid
Sounds good! Should I also consider converting my Wells Fargo Platinum to Autograph for travel, or should I stop using Platinum once I have these new cards?
Is applying for both cards on the same day a strategy to minimize the impact on my credit score?
@Vick
Definitely convert your existing card to a no-annual-fee option like Active Cash at Wells Fargo. The Active Cash card is a solid 2% catch-all, which is beneficial, but the Venture X is appealing as well. The Autograph covers general travel along with transit and gas/EV at 3%.
When you apply for a new card, there’s usually a temporary hit to your credit due to the hard pull and new account. By applying for two cards on the same day, the second application may only be affected by the hard pull from the first but won’t directly reflect the new account until it’s processed. I recommend either applying for both on the same day or waiting at least three months between applications.
@Zaid
What do you think about converting my WF Platinum to Active Cash or Autograph, while applying for BILT and Savor?
I noticed that the Venture X has a $395 fee, which worries me since I’m new to credit card spending. I’m thinking of using Savor as my general-purpose card and Autograph for travel. Would that complicate things given I’m dealing with two different banks?
Am I missing something or does that budget not equal $8K?
Rants said:
Am I missing something or does that budget not equal $8K?
It doesn’t add up since I only listed my primary categories. I provided more context in a previous thread.
Yes, I have additional expenses like medical bills (hospital visits, CVS/Walgreens, dental care), insurance, and subscriptions (streaming services, app store, etc.), and mobile bills (Wi-Fi, cellphone) among others. My monthly spend can vary, typically ranging from $5K to $10K (not counting spikes from annual taxes). I tend to stick to the lower end lately in efforts to save.
@Vick
Why title it $8K if you’re not listing all your expenses? It makes it harder for people to recommend the best options since you’re leaving out a portion of your spending. The title can be pretty confusing!
@UmberLeighton
I didn’t list everything because my spending varies month-to-month, but I get your point. I’ll think about editing the post after reviewing my spending habits tomorrow.
Consider changing your Platinum card to a double cash and requesting a credit limit increase first, then go for BILT since it’s associated with Wells Fargo, which might help with your approval.
Cael said:
Consider changing your Platinum card to a double cash and requesting a credit limit increase first, then go for BILT since it’s associated with Wells Fargo, which might help with your approval.
How much your first credit line increase from Platinum is will influence what you do next. If it’s above $10K, consider applying for Venture X (though they can be tough to get).
Cael said:
Consider changing your Platinum card to a double cash and requesting a credit limit increase first, then go for BILT since it’s associated with Wells Fargo, which might help with your approval.
Thanks for your advice! Quick question: Would you recommend calling Wells Fargo or visiting a banker in person to request the credit line increase? Should I focus on increasing the credit limit on my Platinum card before applying for the Active Cash card? Also, can I request a specific credit limit, or does Wells Fargo decide based on their criteria?
@Vick
Calling will yield the same results as visiting in person, so I suggest calling. I don’t think one method is significantly better. For a credit limit increase, you can usually ask for any amount, and they will counter if they can’t approve your full request.
Your listed expenses don’t seem to total $8K a month. Is the remainder for miscellaneous spending?
@Davin
Yes, I also have medical expenses (hospital visits, CVS/Walgreens, dental treatments), insurance, subscriptions (streaming services, apps), and mobile expenses (Wi-Fi, cellphone).
My $8K monthly spending is variable—it typically ranges from $5K to $10K (excluding annual spikes from taxes). The higher end usually occurs when I travel, but I’ve been keeping around the lower end recently to save.
@Davin
Someone mentioned adding income in the WF app, but I couldn’t find that feature. Do you know if it’s available?
I’ll call about the credit limit increase—what amount do you suggest asking for? I’ve mainly been using my debit card for spending (which isn’t ideal, I know), especially since my Platinum card hasn’t been too helpful to me.
@Vick
I’m not sure where you can add your income in the app—it could be on the desktop version. Regardless, it will come up during the credit line increase request.
For your current limit of $6K, I would suggest asking for a limit of $15-20K. It’s unlikely they will double your limit, but aiming slightly above could provide some flexibility. They’ve given me increases of around 20-30% before.
@Davin
Alright, I’ll reach out to them tonight or tomorrow. If I get a credit limit increase and then request a product change to a different WF card, does that increase remain?
@Davin
Yes, I don’t plan to use the Platinum card anymore. Do I need to worry about applying for new cards while also managing the Platinum card, or should I directly consider the Capital One Duo instead?
@Vick
Both the Wells Fargo Active Cash and Autograph are solid options. It seems you could benefit from at least one of those. A product change won’t show up on your credit report, so it’s wise to pursue the cards you want. The Capital One Duo is a good option too; each bank has its pros and cons.
Unless you’re pursuing a travel setup, there’s not much benefit to only using one bank; cash back strategies can mix and match.