For best cash back credit cards and we're going to talk about some credit cards that will get you the most points especially after an initial spend amount. But before we get to that let me show you my credit score, so that you'll know that I'm serious about credit.
My credit score
You can see this letter I got from BIC of America saying what credit score I haven't slept all day year and a half ago, and it said I got in the credit score of 848 and this is out of 850. This is my Discover statement from just a month ago, here it says my FICO scores 827.
It's dropped a little bit because I've been applying to other cards, and it actually dropped to 822, and it's slowly recovering back. I don't care where it is because I'm not using the score at all these days.
American Express cash card
The first card I want to talk about is this American Express cash card, says spend $500 you get $100 back right around that timeline insurance payment was due. Then I just paid my insurance which was pretty close to five hundred, some dollars every six months or so, and I got $100 off of paying insurance, 20% off just right there, just from these points is not bad at all.
I use a credit card for every type of transaction, one for gas and groceries, one for restaurant, etc or everything else. I use fidelity investment rewards, and you get two percent, automatically place it into your investment account. I'm no longer recommending this one because the American Express is just not accepted everywhere.
Citi double cash card
When I go to certain places I would try to whip this out and then go, I want to pay for something, and I'll be like no source of American Express. Therefore I want to switch to this Citi double cash card, it's blue and green on this thing. I made this just to show you, this is going to be either these are our master cards, going to get accepted a lot more places.
I can use this 2% much more often than this one, using this fidelity card I feel like I fail to use it maybe 20,30 percent of the time. I'm hoping after getting this one I get a higher rate of success, and I'll get more 2 percent back. I was like what the heck is that smell, this freak marker smells like the hat like it smells like something is rotting inside this thing.
Citibank Thank You premier card
This is the Citibank Thank You premier card, you can see the back is the front, usually, it's this way and then that's the back way. They flipped it over, I used it a few times and people keep on wondering what the heck is, how come, it's so weird looking.
I guess you can get pro any points for like having a unique car, that's always kind of cool, I guess I'm more interested in the points, you spend $3,000 get 50,000 points which are worse, 500 dollars spending $3,000 is kind of hard for me.
I cannot spend that much. So I'm going to try putting every kind of expense I have into this, but I think I'm going to come up short, so you get this and you need to fill up your expenses, can try to shift how much you spend by just buying Amazon gift cards you buy, and it's going to sit there and then rest of the year you try to whittle away at it and spend it instead.
After I meet the spending requirements I am actually going to cancel this, because the Thank You premier has a ninety-five dollar yearly fee, if it's coming up to that one year anniversary I will cancel it, and most people would ask if you cancel it isn't your credit score going to go down?
Cancel the youngest credit card
I don't care, because I have a pretty high credit score. I don't use it too often, if you cancel it, it will go down a little bit, that would depend on how young the credit card is. If you just got the credit card and then you cancel it, it won't affect your credit score too much.
Because a big factor of the credit card is the age of the credit cards you have. You don't want to cancel your oldest credit cards, these new ones that you can get them, and the cat's alone, but your credit score will still take a hit.
I've noticed me canceling two cards that it might have dipped maybe like 20 30 points for both of them, and it may take maybe six months to a year to recover, so that's just a little warning for you. If you're going to go around canceling these cards you've got to know what you're doing or your credit report.
Any of you can survive this, that make do maybe like two to three or four a year, and just recreationally, it's not a sport or anything. I hope that was useful for you.
Other web page resource
The 12 Best Cash Back Credit Cards of August 2019: https://www.nerdwallet.com/best/credit-cards/cash-back
The 5 best cash back credit cards right now: https://clark.com/credit-cards/best-cash-back-credit-cards/