Chase Freedom EOY summary

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mathman314
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Chase Freedom EOY summary

Postby mathman314 » Thu Jan 22, 2015 6:33 pm

So, I was checking my EOY summary and after viewing, I'm not sure some of my cards are maximizing my potential for rewards.

  • Grocery Stores and Drugstores - $231.31
  • Automotive - $73.30
  • Shopping - $362.40
  • Travel & Entertainment - $102.06
  • Home Improvement & Maintenance - $559.23
  • Restaurants - $937.74

As you can see, my 3 most groups for spending is restaurants, grocery stores, and Home Improvement & Maintenance (although that is just my cell phone bills.) Furthermore, I don't see shopping to be a huge spending category again, only on occasion. That all being said, what all do you guys think would be the best cards to maximize my rewards?

The thought of getting the Sapphire Preferred (Restaurants) and the AmEX Everyday (Grocery Stores) has already been introduced in my mind. After viewing my EOY Summary, I'm pretty my spending could be justified to get the Sapphire Preferred. Am I thinking too simple or is there something I'm not seeing?
Cards:
1FBUSA: 5.75k
Discover IT (for students): 4.6k
Chase Freedom (signature): 5k
Target REDcard: 1.5k
AmEx BlueCash Everyday: 5.5k

FICOs:
TU - 785 (December 2015)


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CarefulBuilder14
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Postby CarefulBuilder14 » Thu Jan 22, 2015 7:34 pm

If you want to avoid an AF, an Arrival is an option for dining. If you get the CSP, be sure you will be spending enough ($4k in 3 months) to get the signup bonus.

I buy a lot of everyday non-grocery things online, and use the Discover and Chase portals, so that does favor the CSP a bit if you can do some of your shopping through Chase.

Do you plan to use any of Chase's hotel or airline transfer partners in the next year? Getting a CSP and just taking the points as plain cash back would be a bit of a waste if you could end up using them later.

Arrival has a much lower minimum spend requirement at $1k in 3 months. Arrival+ has the first year fee waived, and a better bonus, but the minimum spend is $3k in 3 months.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

takeshi
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Postby takeshi » Fri Jan 23, 2015 9:23 am

Keep in mind that even at 5% your biggest spending category would only yield $46.89. I'm not sure where you'd find 5% on restaurants now that the cash+ has been nerfed though. The CSP's AF seems like it can vary but at best it's $95 which will eat into your rewards.

I'd suggest something like the DoubleCash but that's a guess and not based on any extensive analysis. I don't think there's enough spend to spread it over multiple cards to maximize the different categories.

Is there non-category spend as well?

mathman314 wrote:Am I thinking too simple or is there something I'm not seeing?

You just have to run the numbers. Can you leverage MR's transfer partners to maximize MR point value?



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