Thoughts on credit cards

I should actually not close my 1st Financial Visa for a while; at least, I should leave it for the rest of this year, even if I apply for a new card tomorrow.  It’s helping hold up the average age of my credit lines, has the second longest standing of my accounts at 5 years in July, and it gives me a pretty good buffer on the used credit ratio.  But I shouldn’t use it.

I’m thinking, at this point, I want the Citi Forward Visa card.  The only real downside is that, unlike the Capital One card, it does charge a fee for purchases in foreign countries (3%).  However, I don’t go abroad often and probably won’t go abroad soon.  Besides, if I did go the WWOOF way, I wouldn’t even need to spend much.  On the upside, Citi has:

5 points per $1 on restaurants, bookstores (including Amazon), music and movies and maybe something I’m forgetting;
1 point per $1 on everything else;
Points can be redeemed at 100/$1 for certain gift cards (including TJ Maxx) and checks for student loan payments;
Points last 5 years and you can earn 75,000 in a year (limit, granted, but I won’t reach it);
I forget what else, I just like this list thing.

All in all, pretty good for a card that I haven’t seen the negative reviews that Capital One got.  Of course, I don’t know what credit level it requires – good or excellent, to be sure, but I’m also not sure what mine is.  It ought to be excellent unless the high amount of available credit used (because of student loans) really, really counts against me.  Otherwise, I have accounts 5+ years old, over a $15,000 limit on my credit card, no late payments, no new accounts for almost two years, and I don’t carry a balance (so credit card used to available ratio is 0).

Also, the Visa Rewards charge has disappeared from my checking account, so I guess it was just a test?  Anyway, no longer there so that’s good.


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