I got my first blog related question from a friend/reader the other week.  He was fine with sharing the question and the related advice. Question: We have an expense coming up that will total around $4000 due in the next week or two, so I’m thinking about opening a new credit card and floating it on there.  We will be able to pay off the expense slowly over time.  The other option is to pay it in full with our tax return in early 2017, so a 15-month 0% APR intro period should get us there..  That said, I’ve narrowed it down to three cards: 1. Chase Freedom 2. American Express Blue Cash Preferred 3. Citi Diamond Preferred The first two have a 15-month 0% period, while the Citi has a 21-month period. The Chase Freedom card has rotating categories that earn 5% back up to $75 each quarter ($300 per year) and 1% back on everything else.  It has no annual fee and is usually issued as a Visa card. The Blue Cash Preferred gets 6% back on groceries (up to $6000 in charges / $360 in cash back per year) and unlimited 3% on gas and has a $75 annual fee, which we would easily earn back. The Citi Diamond Preferred earns Citi Easy Deals Points that can be used toward merchandise, gift cards, and local deals. I don’t think we would get much use out of the Citi rewards, so I’m leaning more toward the Chase Freedom or American Express Blue Cash Preferred. That said, the 21-month 0% APR intro versus 15-month is attractive. Our highest expenses that can be paid with a CC are, in order: groceries, electric bill, real estate tax, gas, cell phone, home insurance, and satellite TV.  That said, I’m concerned that I won’t be able to take advantage of one or two of the potential Chase Freedom categories each year because we don’t spend much on dining, shopping, or travel. Whatever card I get I would want to have for the long term; I’m not picking solely based on the ability to finance this short term payment. According to Credit Karma, I have very good odds of getting approved for all three cards, so that factor doesn’t narrow it down. Do you have any feedback on any of these three cards? Answer:

Thanks so much for asking.  Here are my thoughts: read more