GETTING A NEW CREDIT CARD

There are 4 kinds of Credit Cards in the US:

1. General Credit Card: this provides the fancy cash back 

REFERENCES:
Helpful website: thepointsguy.com

General credit card 

1. cash back on general stuff, eg. Discover, Chase Freedom ($0 fee)
2. Targeted for regular usage --> Chase Free Unlimited 1.5% cash back for everything (0$ fee)
3. Citi Double cash 2% $0 fee

Grocery, fuel, store specific card: more benefit on that particular thing. paid on the rest
Travel Cards: -- for us --

1. 3% for Dining and Travel (hotels, flights, rental cars)
2. 1% on the others
3. Chase Sapphire: Preferred and Reserved. Below, reserved:
4. annual fees: Chase $450. At least 1 booking: 1st 300 paid by Chase
5. Reserved: above + lounge pass (free at the lounge)
1. Lounge pass: not available for G gates of SF, but yes in IGI, SJC. Asian airports: good lounges. USA: non existent
6. Rental car no insurance needed
7. Chase has its own travel portal where the dollar becomes 1.5x --> 4.5%
8. Chase credit cards' points are shared
9. Signing bonus: $500

Amex Travel: 

1. $450 fees, $200 uber rides ($15 per month)
2. Better lounge

Uber: 

1. 3% on travel, 4% on dining. $0 fees
2. 2% on online purchase
3. phone insurance upto $600
4. No lounge access
5. Streaming service 

FICO score: 750 or above for Chase, 720 for Uber

Credit history:

1. pay before the bill is generated: don't pay the entire amount, just big ones. Keep 1-2% for sum of all of credit cards: > 1%, <10% across all credit cards
2. inc limit
3. use it for loans rather than credit cards (even car leases require a credit history): don't go below 730. 
4. Pay utility bills on time
5. always keep your credit card on autopay
6. Have app ready
7. turn on all alerts: if catch fraud within 24h, bank is liable. 

If loans needed for >6 months time, go for credit card now

Apply for Chase first (5 - 24 limit: 5 cards in 24 months) first, Uber 2nd

Apply together. 

Taking loan is good. 2nd becomes better. 

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Advice:

Chase useful if multiple Chase cards: cz of 4.5X and Travel Portal

Cancelling a paid card is not free cz age dec

low signing bonus

don't have to plan for chase

Discover, 

After 2.5 years:

Citi Double Cash, Chase S Reserve, Chase Freedom, Uber

Don't keep money in Debit Card

Steps:

1. Check credit score: should be > 750
2. When are you purchasing the car? > 6months: lite. < 6 months: worry about car
1. Buy big purchases at the time of paid cards: help in meeting the limit
3. Apply for Uber

Make credit karma account