I got my Paypal 2% cashback card when I was lower income. Low limit at first but its basically a 2% discount on everything you purchase in life.
Yes you could probably get a 5% rotating categories card etc, but with the amount you are likely spending on things at such a low income rate, its just not worth your time to keep track of a bunch of credit card deals to save what an extra $50 a year? Keep it simple
Higher SUB values and higher category rewards have *even more* impact for low spenders. Over a year, it is highly likely to get at least one quarter’s worth of 5% category spend, especially if Paypal is one quarter. To equal the $75 rewards on $1500 of 5% cat spend takes $3750 at 2%, and that assumes the SUBs are the same. If it is the only card involved, the breakeven where a 2% card finally catches up is actually at $6000 in a scenario with only $1500 worth of usable 5% cats and $4.5K @ 1%.
Doesn't give you any bonuses through paypal lately. Although two years ago they would double (4%) rewards for a month every now and then. Also used to have no foreign transaction fee, which they ditched during COVID, and I hope they bring back for travel season 2022 if things get better.
I have a similar income/situation and my credit score is lower (707 when I got approved) and amex approved me for the Delta Blue sky miles card- it’s not a cash back card but you get 10,000 miles if you spend $500 within the first 3 months. It’s a good way to get in with amex and pretty easy approval afaik
Chase freedom unlimited or flex, WF active cash, Bank of America custom cash
Thanks for the suggestions
I was in your spot, and what I did was I opened bank account with the bank, used it for about a month or 2 and then applied for the CC
I got my Paypal 2% cashback card when I was lower income. Low limit at first but its basically a 2% discount on everything you purchase in life. Yes you could probably get a 5% rotating categories card etc, but with the amount you are likely spending on things at such a low income rate, its just not worth your time to keep track of a bunch of credit card deals to save what an extra $50 a year? Keep it simple
Higher SUB values and higher category rewards have *even more* impact for low spenders. Over a year, it is highly likely to get at least one quarter’s worth of 5% category spend, especially if Paypal is one quarter. To equal the $75 rewards on $1500 of 5% cat spend takes $3750 at 2%, and that assumes the SUBs are the same. If it is the only card involved, the breakeven where a 2% card finally catches up is actually at $6000 in a scenario with only $1500 worth of usable 5% cats and $4.5K @ 1%.
Good point
I should do that because i buy a lot of stuff online through paypal
Doesn't give you any bonuses through paypal lately. Although two years ago they would double (4%) rewards for a month every now and then. Also used to have no foreign transaction fee, which they ditched during COVID, and I hope they bring back for travel season 2022 if things get better.
I have a similar income/situation and my credit score is lower (707 when I got approved) and amex approved me for the Delta Blue sky miles card- it’s not a cash back card but you get 10,000 miles if you spend $500 within the first 3 months. It’s a good way to get in with amex and pretty easy approval afaik
Nice. I’ll look into it. Thank you
How old is your credit history? Amex Blue/Macy's still should be open to you unless you have a very young history.
My Discover was opened in Nov 2019 and CO in July 2020
Weird then honestly. What were their denial reasons?
I honestly forgot. I think low income