How have your CC habits and views changed?

For just about anything you want to get off your chest about credit cards.
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Nixon
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Re: How have your CC habits and views changed?

Postby Nixon » Wed Jul 01, 2015 3:41 am

kdm31091 wrote:I agree with this post 100%. There's also the fact that outside of really large spend you get diminishing returns with 10+ cards. You can't possibly achieve much in rewards across that many cards without spending a ton. As you said, it often comes out to a few bucks a year. Not really worth the time, effort, or tracking of accounts. But to each their own.


Since you ask...

And that's not even including the airline cards, hotel cards. ;)

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oldsoldier
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Re: How have your CC habits and views changed?

Postby oldsoldier » Wed Jul 01, 2015 10:52 am

Hope not everyone gets a laugh at my expense lol. When I joined this site in Nov 14, I had two credit cards and to be honest I didn't know they had rewards/cash back. My only reason for getting them was for emergencies. My Habits have changed considerably from monitoring CRs to finding the cards that fit my lifestyle. I think the biggest change for me was understanding I could use a credit card for everyday use.

Told you guys not to laugh...
BoA Cash Rewards $13,000
Chase Sapphire Preferred $14,000
BoA Better Balance $12,000
Amex Every Day $24,000
Discover It $19,000
NFCU Cash Rewards $25,200
Barclay Arrival WMC $10,000
Cap One QuickSilver WMC $7,200
WF Cash back Visa Sig $11,000
Citi Thank You Premier $13,500

MemberSince99
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Re: How have your CC habits and views changed?

Postby MemberSince99 » Wed Jul 01, 2015 12:57 pm

oldsoldier wrote:Hope not everyone gets a laugh at my expense lol. When I joined this site in Nov 14, I had two credit cards and to be honest I didn't know they had rewards/cash back. My only reason for getting them was for emergencies. My Habits have changed considerably from monitoring CRs to finding the cards that fit my lifestyle. I think the biggest change for me was understanding I could use a credit card for everyday use.

Told you guys not to laugh...


No laughter here. Glad the ones you have are fitting you and your lifestyle. You have a good batch of cards there.

JonE
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Re: How have your CC habits and views changed?

Postby JonE » Wed Jul 01, 2015 8:00 pm

If I do go for six cards I may consider a BOA (either Better Balance Rewards or Cash Rewards) and possibly Discover even though the categories generally overlap with Freedom. I had considered the Sam's Club MC, but the Synchrony cards I have now are definitely not keepers for the long term.
Wallet: Chase Freedom, Discover IT
Chopping Block: Synchrony
Future: TBD

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Vattené
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Re: How have your CC habits and views changed?

Postby Vattené » Wed Jul 01, 2015 9:12 pm

CarefulBuilder14 wrote:How do you approach this, Vattené? Do you keep all your old store cards alive through small transactions, or are you just letting them eventually die from inactivity?

I'm letting all the ones for which I have absolutely no use die, I suppose. The only card that has ever been closed on me is my first, American Eagle. The rest have gone years with no activity.

Two exceptions are my Walmart card and Banana Republic Visa. I will put a charge on every six months or so to keep them alive (Walmart has a $.05/gallon upfront gas discount, so even if I get a Sallie Mae and it's never the most beneficial option, it does have some use; the BR Visa has points for Banana Republic & Co. plus I would like a Visa that's not a debit card if I have to put a large expense on it since my main cards are Discover and Amex, after all).

The rest are just store accounts, though. I'll squeeze some history out of them until they go.
-Vattené
FICO-8: EX - 827 (5/17) | TU - 824 (5/17)
My Cards: Barclay Arrival+ | Discover it | Amex ED
AU:: Discover Miles | BofA BBR | Barclay Commence (SD'd)

kdm31091
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Re: How have your CC habits and views changed?

Postby kdm31091 » Wed Jul 01, 2015 9:16 pm

Nixon wrote:
kdm31091 wrote:I agree with this post 100%. There's also the fact that outside of really large spend you get diminishing returns with 10+ cards. You can't possibly achieve much in rewards across that many cards without spending a ton. As you said, it often comes out to a few bucks a year. Not really worth the time, effort, or tracking of accounts. But to each their own.


Since you ask...

And that's not even including the airline cards, hotel cards. ;)

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Right, but you have a wife who is also spending on your cards and vice versa.

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CarefulBuilder14
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Re: How have your CC habits and views changed?

Postby CarefulBuilder14 » Wed Jul 01, 2015 9:35 pm

It might actually be kind of cool to have my Brooks Bros card declined in the store, then whip out a PRG or CSP. :ppp

*Sallie Mae and BCE can be good backups not just in the event of nerfing, but also that of a lost wallet. If either has a promo or special offer, then Arrival can become a SD card*
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

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CarefulBuilder14
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Re: How have your CC habits and views changed?

Postby CarefulBuilder14 » Wed Jul 01, 2015 11:37 pm

CarefulBuilder14 wrote:Nixon,

Have you figured out any pattern to Barclaycard's mini-bonuses?

With Discover, the criteria seem pretty straightforward. People with a history of spending a lot tend to get more lucrative and/or more frequent bonuses, but most people can get at least something.

With Barclaycard, I don't get it. Some people get showered in promos, and others get nothing. From very limited research, it doesn't look like total Barclaycard spending or credit quality are good predictors.

This got buried a little on a previous page. Does anyone have an idea about Barclaycard's criteria?
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Nixon
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Re: How have your CC habits and views changed?

Postby Nixon » Wed Jul 01, 2015 11:50 pm

CarefulBuilder14 wrote:
CarefulBuilder14 wrote:Nixon,

Have you figured out any pattern to Barclaycard's mini-bonuses?

With Discover, the criteria seem pretty straightforward. People with a history of spending a lot tend to get more lucrative and/or more frequent bonuses, but most people can get at least something.

With Barclaycard, I don't get it. Some people get showered in promos, and others get nothing. From very limited research, it doesn't look like total Barclaycard spending or credit quality are good predictors.

This got buried a little on a previous page. Does anyone have an idea about Barclaycard's criteria?


No rhyme or reason from what I can tell.
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CarefulBuilder14
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Re: How have your CC habits and views changed?

Postby CarefulBuilder14 » Thu Jul 02, 2015 11:17 am

Nixon wrote:No rhyme or reason from what I can tell.

Well, they will have plenty of time to throw something my way while they sit basically unused. If and when Brooks Bros dies off, I'll only have cards with four issuers, so staying on top of Arrival and Sallie Mae won't be inconvenient.

*I tried calling to see what I could get, but couldn't get through with the customer service wait times. Maybe they have a spike in calls of people worried about the announced Arrival+ changes.*
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card



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