Hey everyone,
Looking into getting a more practical card or two for when I start my full-time job. All I have currently is a Wells Fargo Student card with a super low limit and minimal rewards I used to build credit.
What would you all recommend? What is your go to card? I've looked at websites like The Points Guy, but it seems a bit tailored towards travel, so any other opinions would be great.
| +50 | Interviews Are So Fake | 33 | 8h | |
| +33 | 2024 UK Election - Tories finished? | 21 | 1d | |
| +29 | ADHD ! | 14 | 8s | |
| +29 | Non-Competes Banned | 34 | 2h | |
| +28 | Being Christian in investment banking | 14 | 2d | |
| How do I become Sigma | 15 | 1d | ||
| +19 | Moelis has the cutest Analysts? | 4 | 2d | |
| +18 | Best NYC neighborhood for single 30M | 12 | 4d | |
| +16 | Underage intern, drinking? | 7 | 2d | |
| +13 | Secretive vs Universal Prestige? | 7 | 2d |
Career Resources
Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.
I recommend no credit card. No need to have more complexity in your life.
Chase sapphire preferred, DM me and I’ll refer you
One of the best things you can do is look at your current spending habits and just crunch the numbers. I'm sure a lot of people on here will recommend the typical "status" cards like the AMEX Platinum or Chase Sapphire Reserve but most of your travel and late night dinners will be on your corporate card (assuming you'll have a corporate card) so you won't be getting the points, really not worth the $550 annual fee. I've had the Chase Freedom Unlimited for years and it's great, redeem all my points for cash back and end up with $400-$500 back each year. Chase Sapphire Preferred is fairly enticing though, if you get the bonus points after hitting the spending threshold in the first three months the cash back on those points will cover the $95 annual fee for 8 years (current offer of 80k points)
This is good advice - those premier cards are only worth it if you are already spending on those categories pretty heavily and want some ancillary benefits. AMEX in particular is geared towards high spending - some of the discounts and 'offers' I get are actually pretty awesome... if you are already committed to spending on luxury items generally (i.e. some of their wine deals are awesome).
Both very solid pieces of advice. Given that no one knows what's going to happen, I'd recommend a straight cashback card, Citi's Double Cash is good, Capital One might have something similar, and I know the Bank of America Bankamericard Cash Rewards card is great if you have other status with Bank of America, I think that might be the best all around cashback card if you meet the criteria.
It depends. The first thing I would tell you is to look to see if your bank has any credit cards. My bank offers one and it is great... it has additional cash back for employees. And I earn over 2% on everything, and over 3% in travel. Only $99 fee.
edit: also, had like $300 bonus. So technically already paid for itself for the next 3 years.
Get good entry levels that have ZERO annual (discover, some store credit cards with 5% cash back like Costco Sams club are actually pretty good if you shop there a lot u get 5% back so why not), after 6 months apply to better ones like chase reserve and stuff that don’t have annuals, then apply for whatever ones with annuals that are nice after 1-2 years.
Boom good credit
Get good entry levels that have ZERO annual (discover, some store credit cards with 5% cash back like Costco Sams club are actually pretty good if you shop there a lot u get 5% back so why not), after 6 months apply to better ones like chase reserve and stuff that don’t have annuals, then apply for whatever ones with annuals that are nice after 1-2 years.
Boom good credit
I love Chase. Especially since they are on your side when you're disputing a charge. I've won chargebacks against the MTA, and am currently disputing a bogus airline charge from budget airline.
If you don't know what you'll be spending on or using perks for it's tough to go wrong with a no fee cash-back card like Chase's Freedom series. Personally, I've had a Fidelity Retirement Rewards card since forever, which dumps 2% into my IRA. (backdoor Roth conversion for me these days, but go straight into Roth if you're eligible for simplicity's sake) I'd also suggest the Amazon card if you shop there, (who doesn't?) which gives you 5% off everything they sell. I made the mistake of going with the store card, but I'd suggest the CC instead. I'd switch if not for the hit my credit would take from the change. (hard inquiry + new account replacing one with significant history)
I don't think that this needs to be said, but try to never carry a balance. If you can't pay cash for it, you can't afford to put it on your credit card. The card should be there for benefits and to keep you from having to carry a dozen C notes around, not to finance unreasonable spending. If you are regularly carrying a balance you really need to reevaluate your spending habits.
Also, regarding those 'prestige' metal cards: If you ever play 'credit card roulette' where everybody puts a card into a bag and the waitress picks one out to put the bar tab on. She's ALWAYS going to pull the metal card hoping for a big tip. Be baller at your own risk.
AMEX delta card. Get 75k miles when signing up which is a first class round trip to London.
I went simple. I have 2 cards, one is BoA 3% cash back on dining which I use for food and the other is Citi 2% cash back on everything which I use for all other purchases.
Sint reiciendis enim amet velit impedit. Rerum ea sunt sunt voluptas vel illo iure. Et eum numquam est in a.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...