Does it make sense to apply for many different CC and use them accordingly? For example, should I get a Amazon CC, Target CC, Ikea CC and everytime I can, use them? Many of them have nice cashback rewards. what are the downsides?
Just get chase freedom and Discover Both have 5% categories in 2 separate quarters which covers Amazon, Target etc. In the other 2 quarters they have 5% cashback on Grocery purchases which you can use to purchase gift cards of any stores from Safeway.. So effectively you get 5% cashback on at least 2 stores (Amazon and Target) for the whole year Additionally I would get a premium card like Chase Sapphire Reserve which increases the points conversion factor to 1.5 times
Yes that should suffice. No need to have too many cc unless you want to get a high credit score over the long term. I personally have 11 credit cards in 7 years and plan to get a couple more.
I have no credit score at all as a recent Immigrant. Should I still follow ur advice or is it more effective to more CCs to build up the score faster?
I have 7 credit cards and each has its purpose
Amazon cc everyone definitely should have. You enter it once and have 5%. Also a travel card, not critical with the pandemic but convenient in regular times
You can check out sites like creditjuicer.com or nerdwallet.com for some nice breakdowns
You can just get just a few powerful cc instead of getting store cc. Check out Reddit