What’s in My Wallet: July 2018

I think it would be unreasonable to expect another big month in the form of updates to my credit situation, but I am happy to say that I still have some. Of course, all of these are positive and are all according to plan. 

Updates

Even though the majority of my spending has been on the Blue Cash Preferred to meet the upgrade bonus, I think Discover is starting to notice that I’ve been giving them some love too. Certainly, I’ve been giving them more spend than when I had the Chrome card, as my restaurant spend was almost non-existent. In either case, I got a credit limit increase on the card from $5,000 to $6,500! 

I tried doing the double dip, by calling in afterwards, but the customer service rep said that I was maxed out for the time being. 

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
  • Places that don’t take Amex: Discover IT NHL (1%) / Citi Double Cash (2%)

The strategy for this month is pretty simple. Continue spending on the Blue Cash Preferred to meet the upgrade bonus. The upgrade offer is good for $250 after spending $2,000 within the first 3 months. That would be a return on spending of 12.5%, not including any rewards earned for that spend. For any merchant that does not accept American Express, the next play is the Discover IT NHL card. In the very worse than case, the Double Cash is for the places that don’t accept either.

Next Card

I’m still certain that I want the Chase Sapphire Reserve and I can’t wait! I’m trying everything I possibly can to groom my credit profile before I apply for the card in October. I’ve accomplished both of my goals of staying under 5/24, and by getting a credit limit above $10,000. Unfortunately, my Discover isn’t quite there yet, but I’m hopeful that by October I can get it up to that point to look even better. 

Final Thoughts

Every month is bringing more exciting updates in regards to my credit. While I don’t think there will be a month quite like June 2018 for quite some time, this one is pretty good too. I didn’t quite get the $10,000 credit limit increase I was hoping for on Discover, but at least I’m headed in the right direction. I’m thinking once I get past the upgrade bonus on the Blue Cash Preferred, I can focus in on the Discover IT NHL card. 

What do you think about these latest updates? Have you had any success with Discover’s Double Dip? Let us know down in the comment section below!

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