It seems like the last time this topic came up was three years ago. Like the person who started that post, I’m fairly new to credit (around 2 years and 3 months old accounts) and instead of seeking personal recommendations, I’m curious about how others optimize their spending across multiple credit cards to maximize rewards and slightly boost their spending capacity.
Since I’m a low spender, it would be great if other low spenders could share their experiences. For those who spend more than just a bit, how is your setup structured for spending more than $500 monthly like with the CitiBank Custom Cash?
That covers most needs with minimal hassle. My partner just uses the BCP for everything with the CFU as a backup since they prefer a simple setup. If they were willing to explore more options, we could create a more complex system, but well, happy partner, happy life.
@Benn
I have 8 cards total, but these are my go-tos each month. My AAoA is 2 years, 5 months, pretty similar to yours! I unwittingly spaced them out as I got into credit cards after turning 18 in 2020 during COVID. About the Chase trifecta, I don’t think the CSR would help me right now since I’m not traveling much.
@Evans
Same here, I don’t plan on traveling a lot either. Nice to meet another '02 kid. I’m thinking of getting a Freedom Flex or Unlimited. Do Discover and Freedom Flex often overlap in terms of rotating categories?
@Benn
I believe they don’t overlap much. It’s handy to have both, as before I got the Custom Cash, one card would often have 5x Gas while in the next quarter, the other would have it.
@Benn
Go for the Flex, unless you qualify for a better signup bonus - missing out on 0.5% won’t matter much. The baseline should be about 2% for general spending.
Congrats on the Custom Cash! That was my exact plan. My score dipped because of student loans now on my report, and my longest account is only slightly over a year. But I hope to secure one next year.
Evans said: @Oaklan
You’ll get there! Remember, it’s a marathon, not a sprint
I keep reminding myself. I know it’s a long game, but now that I’m getting more stable financially, I can’t help but obsess a bit. Any tips aside from just paying on time?
I’m on my second statements with my two cards and will pay off the full balance. I think patience is needed to let my account age grow, and I hope for credit limit increases in Q1.
@Oaklan
I’m in a similar position, except for net worth/investments since I landed my first full-time job right after finishing college in June. But seriously, make sure to take breaks and enjoy life outside of finances! There are plenty of other hobbies and activities available (for me, it’s gym, video games, concerts, etc.)
@Evans
I have some investment accounts but they’re small. I opened a Schwab account, which is nice. It’s all about slow and steady progress.
I’m a freshman in college, so I’m slightly behind. I sometimes find myself constantly thinking about increasing my income because any missed opportunity can be a regret.
I made time for the games but haven’t lately. I believe that having free time makes me more productive with work and studies; however, I can’t have everything all the time.
Evans said: @Oaklan
You’re a freshman in college? You’re doing great! Yes, investments require patience, but any progress counts!
Indeed, just a conventional freshman. Schwab’s free stock offerings are great. I’m wise enough not to solely obsess over investments.
I began preparing for credit last year with a debit card acting as a credit card, offering cashback, and a decent savings APY. Definitely recommend it for anyone needing a jumpstart.
Started my credit journey at 738, but utilization and inquiries have dropped it a bit, and with student loans now reported, I’d say it’s tanked. Not sure why it’s so impactful; might be the amount or account age.
@Winslow
Hello fellow BOA user, I’m also using multiple CCRs. I wasn’t aware that hotels counted as online shopping? Are you booking directly with hotels (such as Hilton or Marriott) or through a third-party site?
