Have narrowed it down to my 4 card core

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MemberSince99
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Have narrowed it down to my 4 card core

Postby MemberSince99 » Fri Jul 10, 2015 7:23 am

I've decided which 4 cards I ultimately want to keep long term. The winners are:
Amex PRG
Citi DC
Citi TY Premier
Home Depot

The cuts to be are:
Discover IT
Cap One Buypower

I don't expect anyone to agree with me, and i don't care if you don't - that's your right, just as it's my right to do what I want with my life and my credit. (As I say, when you pay my bills you can start telling me how to live, until then, good luck with that).

Basically at that point it will be two lenders as Home Depot is offered by Citi. The ONLY value of the card since it has no rewards is to allow you to float large purchases at 0%. Well being a homeowner, i can always use that.

Otherwise I'm set until my next vehicle purchase. Not sure when that might be.

My credit life may be boring from here on out, so not sure how much I'll post I'll try to check back from time to time, but look at it this way - you'll have one less aggravation in your day :) Not goodbye, but until we next talk....


Nixon
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Re: Have narrowed it down to my 4 card core

Postby Nixon » Fri Jul 10, 2015 10:37 am

Your portfolio is pretty Citi-centric. I hope you took that into account...
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JonE
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Re: Have narrowed it down to my 4 card core

Postby JonE » Sun Jul 12, 2015 3:58 pm

I'm still mulling over which four cards I want to end up with, or even if I want to end up with 4 at all. Ultimately one of each (VISA/MC/AMEX/Discover) would be alright, or just keep any combination of 3 (2 VISAs/MC/AMEX or 2 VISAs/AMEX/Discover).

Chase Freedom is definitely going to be there, CSP isn't far behind after my situation improves, then AMEX (BCP or EDP) for the 61 day CLI, after that it's a crap shoot. I would say the Synch cards wouldn't be included but a Sam's Club MC would change all that.
Current Cards: Chase Freedom, Discover IT
Future: TBD

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CarefulBuilder14
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Re: Have narrowed it down to my 4 card core

Postby CarefulBuilder14 » Sun Jul 12, 2015 5:54 pm

JonE wrote:I'm still mulling over which four cards I want to end up with, or even if I want to end up with 4 at all. Ultimately one of each (VISA/MC/AMEX/Discover) would be alright, or just keep any combination of 3 (2 VISAs/MC/AMEX or 2 VISAs/AMEX/Discover).

Chase Freedom is definitely going to be there, CSP isn't far behind after my situation improves, then AMEX (BCP or EDP) for the 61 day CLI, after that it's a crap shoot. I would say the Synch cards wouldn't be included but a Sam's Club MC would change all that.

If you're willing to jump through the 30-transaction and airline transfer hoops, EDP can really shine. It does mean having a second travel reward currency, though. Unless you're spending a lot, you may find your rewards are spread too thinly.

I like Discover. If you want a MC that delivers a lot of value without needing a lot of ongoing spending, look at Chase IHG (assuming you would occasionally stay at one of their properties). I'd get CSP before IHG, though, given that Chase has been tightening their standards on UR-based cards and frowning on a lot of new accounts.
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

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kcm7
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Re: Have narrowed it down to my 4 card core

Postby kcm7 » Tue Jul 14, 2015 8:52 am

MemberSince99 wrote:
The cuts to be are:
Discover IT
Cap One Buypower



Just curious -- what turned you off for the Discover it?

My card strategy has always been bare-bones. Life is just easier that way. I got my QS for some short-term expenses my mom and I are sharing, and I'll be cancelling it after that, simply because it's another thing to worry about bouncing around in my head.
Cards:

-Capital One Quicksilver
-Barclaycard Arrival (no AF)
- US Bank (no rewards)
-IHG

Gamma
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Re: Have narrowed it down to my 4 card core

Postby Gamma » Tue Jul 14, 2015 1:08 pm

MemberSince99 wrote:I've decided which 4 cards I ultimately want to keep long term. The winners are:
Amex PRG
Citi DC
Citi TY Premier
Home Depot

The cuts to be are:
Discover IT
Cap One Buypower

I don't expect anyone to agree with me, and i don't care if you don't - that's your right, just as it's my right to do what I want with my life and my credit. (As I say, when you pay my bills you can start telling me how to live, until then, good luck with that).

Basically at that point it will be two lenders as Home Depot is offered by Citi. The ONLY value of the card since it has no rewards is to allow you to float large purchases at 0%. Well being a homeowner, i can always use that.

Otherwise I'm set until my next vehicle purchase. Not sure when that might be.

My credit life may be boring from here on out, so not sure how much I'll post I'll try to check back from time to time, but look at it this way - you'll have one less aggravation in your day :) Not goodbye, but until we next talk....

Didn't you have a credit card with 20k limit? That could have been useful for balance transfers if you ever needed it. Too bad my fico can't learn from this. They would never close a card because you would lower your overall credit and lower your score. Good to see you're only keeping cards that you want not for the hell of it.

morgacj2004
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Re: Have narrowed it down to my 4 card core

Postby morgacj2004 » Tue Jul 14, 2015 2:22 pm

Re: OP I would have kept the IT. But otherwise looks like good choices. If you are like others on this forum I am sure you will leave the garden again soon enough :)

JonE
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Re: Have narrowed it down to my 4 card core

Postby JonE » Tue Jul 14, 2015 8:10 pm

CarefulBuilder14 wrote:
JonE wrote:I'm still mulling over which four cards I want to end up with, or even if I want to end up with 4 at all. Ultimately one of each (VISA/MC/AMEX/Discover) would be alright, or just keep any combination of 3 (2 VISAs/MC/AMEX or 2 VISAs/AMEX/Discover).

Chase Freedom is definitely going to be there, CSP isn't far behind after my situation improves, then AMEX (BCP or EDP) for the 61 day CLI, after that it's a crap shoot. I would say the Synch cards wouldn't be included but a Sam's Club MC would change all that.

If you're willing to jump through the 30-transaction and airline transfer hoops, EDP can really shine. It does mean having a second travel reward currency, though. Unless you're spending a lot, you may find your rewards are spread too thinly.

I like Discover. If you want a MC that delivers a lot of value without needing a lot of ongoing spending, look at Chase IHG (assuming you would occasionally stay at one of their properties). I'd get CSP before IHG, though, given that Chase has been tightening their standards on UR-based cards and frowning on a lot of new accounts.


I'm not sure I'd put 30 transactions one one card unless I'm trying to meet a spending bonus (like I probably will be with CSP). That's why I wouldn't want more than three cards since managing more than that would probably give me a panic attack. BCP would probably work if it doesn't have the 30 transaction requirements. Barring that, I could go for a Discover Card or Sallie Mae MasterCard for the 5% on Amazon purchases.
Current Cards: Chase Freedom, Discover IT
Future: TBD

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CarefulBuilder14
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Re: Have narrowed it down to my 4 card core

Postby CarefulBuilder14 » Tue Jul 14, 2015 8:34 pm

JonE wrote:I'm not sure I'd put 30 transactions one one card unless I'm trying to meet a spending bonus (like I probably will be with CSP). That's why I wouldn't want more than three cards since managing more than that would probably give me a panic attack. BCP would probably work if it doesn't have the 30 transaction requirements. Barring that, I could go for a Discover Card or Sallie Mae MasterCard for the 5% on Amazon purchases.

BCP is just plain cash back. There's the $6k grocery special rewards cap, but no transaction-number tracking.
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

MemberSince99
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Re: Have narrowed it down to my 4 card core

Postby MemberSince99 » Wed Jul 15, 2015 1:20 pm

kcm7 wrote:
MemberSince99 wrote:
The cuts to be are:
Discover IT
Cap One Buypower



Just curious -- what turned you off for the Discover it?

My card strategy has always been bare-bones. Life is just easier that way. I got my QS for some short-term expenses my mom and I are sharing, and I'll be cancelling it after that, simply because it's another thing to worry about bouncing around in my head.


What put me off was them ending the CLI train. With Discover it might be years to get another one now that this was ended.

And the realization I'm not really the market they prefer, as well as reading they tend to prefer merchants in disputes. I only dispute something I flat out got screwed on, which means I've only filed a few disputes in many thousands of transactions over the years, but when I do file, I got screwed BADLY and I want the lender in my court, not holding me down while the merchant bones me.

This combination of factors outweighs the excellent reward structure/customer service for me. They offer killer rewards, but are as stingy as a miser with limits if you have decent credit and high limit cards.



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