What is in my Wallet: August 2018

With another month in the books, it looks like August will be a pretty great month too! Not quite as good as our gains in June of 2018, but I’d say this was the second best month.

Updates

There are no new cards for me this month. However, I can’t complain, with two different credit limit increases! The first one comes from Discover. I was able to increase that credit limit to $7,500 from $6,500. After the credit limit increase, I tried double dipping the credit limit increasing by calling in to no avail. As last month, the customer service representative said I was at the max they were willing to give me.

The other credit limit came from a surprise card actually, and that would be the Care Credit. I’ve had the Care Credit card for a very long time as well and use it from time to time for anything dental or vision related. Because its a Synchrony card, they are pretty generous with regards to getting credit limit increases, and a soft pull no less. After calling in and requesting an increase, they were able to approve me for an increase from $6,000 to $12,000. Score! That puts me at two cards over $10,000. 

Cards In My Wallet

  • Blue Cash Preferred
  • Chase Freedom
  • Discover IT NHL
  • Citi Double Cash 

Strategy

  • Meet Upgrade Bonus: Spend every penny on Blue Cash Preferred

After Upgrade Bonus:

  • Grocery: Amex Blue Cash Preferred (6%)
  • Gas: Chase Freedom (5%)
  • Restaurant: Discover IT NHL (5%)
  • Everywhere else: Discover IT NHL (1%) or Citi Double Cash

Strategy

Although I’m not there JUST yet at the time of writing, I’m pretty close to finishing up my upgrade spending offer on my Blue Cash Preferred. That offer is $250 for spending $2,000 within the first 3 months. I will finish this month though, and when that happens I’ll go back to a more conventional setup. Groceries will be on the Blue Cash Preferred with its 6% back in spend. For Q3, Chase is offering 5% back on gas, and Discover is offering 5% back on restaurant spending. For every other purchase, I’m cycling between the Discover IT NHL card to boost spending on that card, and the Citi Double Cash card. 

Next Card

The next card I’m looking at getting is the Chase Sapphire Reserve. Because of the status of the card, there are a few requirements that you must meet before getting approved. The first restriction of course is Chase’s 5/24 rule, and the second is the $10,000 credit limit minimum. Luckily for me, I’m under 5/24, and with the Care Credit credit limit increase, I have 2 cards that are above a $10,000 limit. 

Final Thoughts

I’m really really excited to see the direction my credit is going in. If you would have asked me a year ago if I would have multiple cards above the $10,000 range, I’d call you crazy. But here we are! It really goes to show if you take the right steps, and really clean up your profile, you can achieve anything you want. For me, I’m hoping I can get the Chase Sapphire Reserve card as soon as it makes sense. 

What are your credit card goals, and what are you doing to achieve them? Let us know down in the comment section below. 

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