I currently have a pretty plain credit card, the First Tech Platinum, but I was thinking that I don't really get much out of it, so I started to looked into other cards with better rewards, and cancel my First Tech.
My main question is: is it OK credit-wise to cancel my current CC, and get TWO other cards in different banks, using them to get the most of out of the points.
Now, I don't have a problem with CCs, I know have to use them and pay the entire balance each month.
So this are what I'm looking into:
One of my biggest expense categories is Groceries, so I was thinking about getting an an American Express Blue Cash Preferred, and use it only for Groceries. I made the math according to what I spent last year in this category (thanks mint!), and I should come up at least a hundred after the annual fee.
I was also thinking on getting a Capital OneVenture Rewards, since it gives 2x miles on every dollar spent, and you can buy the flights/hotels anywhere, not only through their portal. Their rate is dollar value * 100 (ie $300 ticket costs 30,000 miles), so that would essentially be 2% cashback on everything else (but only redeemable towards travl, but I fly a few times a year so I think that would be pretty good).
I don't have a car, so I don't worry about cards that give points on gas.
Is that a good idea or would it mess up my credit score?