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multiple large purchases coming, one card? multiple?

59 66 May 16, 2023 at 06:06 AM in Finance
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Hello,
I have a few large expenses coming up.... new roof (12-15k), finishing a renovation (5k), new hvac,

Do you all think it's better to open a couple credit cards to try and maximize the benefit? or just pick one (and which one? I saw the amex platinum offer and considering it as we will use a good number of the benefits (Global entry, flights, uber, etc).

I'm scouring the posts to find other good options... but also thought I would ask,. Current credit score is 800+

Thank you in advance for your thoughts/comments
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dcdoc
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YanksIn2009
05-16-2023 at 01:53 PM.
05-16-2023 at 01:53 PM.
Quote from dcdoc :
Hello,
I have a few large expenses coming up.... new roof (12-15k), finishing a renovation (5k), new hvac,

Do you all think it's better to open a couple credit cards to try and maximize the benefit? or just pick one (and which one? I saw the amex platinum offer and considering it as we will use a good number of the benefits (Global entry, flights, uber, etc).

I'm scouring the posts to find other good options... but also thought I would ask,. Current credit score is 800+

Thank you in advance for your thoughts/comments
Assuming you are not limited by the number of recent cards, your total income, etc., I would get the best 2 cards that offer me the best sign up bonuses in cash\points that can be turned into cash almost regardless of what their other benefits are. When I finally escaped NJ and moved to the free state of Florida, I got two cards knowing that I would blow around 10-15k on moving expenses. I got like around $1500 back doing that. I ended up moving the cards to different offerings by the same banks after the first year to avoid an annual fee (otherwise I would have just closed them). Rarely use either now since they do not offer anything I can't get on other cards. The way I look at it, unless they offer something you can't get with your current cards that is worth worrying about, then just go get the max sign up bonuses you can get and in the worst case just close them after the first year.

My 2 cents.
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Dr. J
05-16-2023 at 05:18 PM.
05-16-2023 at 05:18 PM.
$15k for a new roof - must be nice, mine will be like $35k (yes I got multiple quotes) But, the place also offers 1.99% financing. I could pay outright for the roof in cash, but why do that when it's earning 5% and I'm paying under 2% for financing?
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komondor
05-16-2023 at 09:52 PM.
05-16-2023 at 09:52 PM.
use multiple cards with first time offers I used 3 for my daughter's wedding it was about 30k overall.
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dcdoc
05-17-2023 at 03:57 AM.
05-17-2023 at 03:57 AM.
Quote from Dr. J :
$15k for a new roof - must be nice, mine will be like $35k (yes I got multiple quotes) But, the place also offers 1.99% financing. I could pay outright for the roof in cash, but why do that when it's earning 5% and I'm paying under 2% for financing?

Ours is a flat roof for a rowhouse. Thankful it isn't 35k! I hadn't checked financing options, but will this week (to your point of financing rates vs CD interest rate )

Thank you
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dcdoc
05-17-2023 at 03:58 AM.
05-17-2023 at 03:58 AM.
Quote from komondor :
use multiple cards with first time offers I used 3 for my daughter's wedding it was about 30k overall.

How much total came back to you with the three offers?
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komondor
05-17-2023 at 07:06 AM.
05-17-2023 at 07:06 AM.
Well the offers were for over 100,000 some 150K about 2500.00 worth of stuff.

Check here

https://thepointsguy.com/guide/ch...me-offers/


We timed our cards as best we could used them this past December on vacation I needed a hotel for the day and wanted to check in early so I paid for 2 nights with points and also I flew back to Boston on points first class and still have some left over. You might need to spread the cards over different people as Chase seems to have the most offers and I have a lot of Chase cards.
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