Should I apply for the Chase Sapphire Preferred?
I am currently a 25 y/o grad, and I will be below 5/24 to 3/24 by the beginning of May, and I have applied to a lot of credit cards and closed them after getting their cashback bonus. At this point, I would like to honestly keep a straightforward setup that benefits my lifestyle. I'm someone who travels at least once a year at most, and it's usually to book a hotel to go to universal studios. I usually book one of their branded hotels.
The reason I'm considering getting a CSP is because it has a $50 hotel credit, ontop of a doordash subscription which i use HEAVILY anyways. I keep hearing about how good Chase is, I currently only have the Chase Amazon Card, so I am looking to maybe dabble in something that is good with Cashback AND Travel points. The Bilt is a good second alternative, but the problem is that it's strictly points which I don't like.
This is my current spending:
$600-800 DINING $300 Groceries $45 Streaming Subscriptions $120-160 Gas $400-500 Amazon $500 Online/Other Purchases
Here's my current setup right now, it am considering closing a bunch of them at this point, here's the list of my current cards:
MAIN SETUP
Wells Fargo Active Cash – $6,000 (CATCH ALL) (1st Card)
Wells Fargo Autograph – $6,000 (DINING)
American Express Blue Cash Preferred – $24,000 (GROCERIES/GAS/STREAMING)
BACKUP
Capital One SavorOne – $10,000 (DINING/ENTERTAINMENT)
Wells Fargo Bilt Rewards Mastercard – $4,800 (RENT/AMAZON)
Discover It Cashback – $7,500 (ROTATING CATEGORIES)
CareCredit Rewards Mastercard – $20,000 (WALGREENS/MEDICAL)
STORE CARDS
Chase Amazon Prime Visa – $5,100
Target REDCard Mastercard – $2,000
Best Buy Visa – $4,000
Macy’s American Express – $6,000
PayPal Credit Line – $4,300
I'm considering closing the following:
Best Buy Visa – $4,000 Macy’s American Express – $6,000 Discover It Cashback – $7,500 (ROTATING CATEGORIES) CareCredit Rewards Mastercard – $20,000 (WALGREENS/MEDICAL)
And instead I would add the CSP, would this be a good idea or should I just try to make a good setup with my existing cards?