Changing up cards

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drmoo
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Changing up cards

Postby drmoo » Sat Jul 18, 2015 10:10 pm

Hi

Reviewing my CC line up

1. Amex SPG since 07 (11k limit)
2. Citi Thank you card (question about that) - since 99 (8k limit?)
3. Chase Sapphire Preferred - since 2013 (30k limit)
4. Chase Southwest airlines CC (just signed up) - brand new (35k limit)
5. Bank of America 1-2-3 CC (since 08? - 10k limit)

Just canceled
1) Discover Card (00-15, 7k limit).

Trying to take advantage of sign up bonuses, etc as they come.

The Citi card is my oldest personal card. I've had it since 1999. I'm not sure if I would qualify for the sign up bonuses that are now being offered with 50,000 Thank you points? i,e, a Citi Prestige card. I've read its good to keep one old card going.

I've been an Authorized user on one of my parents Citi AA cards since the 80s?

If not, I was thinking of cancel the BoA card and getting a different cash back card rewards card. Something geared towards gas rewards.

May or may not keep the Sapphire preferred. Undecided ...

Thoughts?

In terms of what we are looking for, like the hotel and travel rewards the most. Thought about getting a Marriott card.


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obxfisherman
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Re: Changing up cards

Postby obxfisherman » Sat Jul 18, 2015 10:24 pm

I LOVE my Marriott Card...it's practically the only card I use...this is in part due to me being a Marriott Loyalist, and part because I have platinum status. Others in this forum may bring up that the card isn't worth it unless you have Gold or Platinum status, but I guess it comes down to personal preference. Personally I love the card even if you don't get as many points as you could with an alternate card.

I would not close your oldest card since you've had it since 99, in my opinion that is too long of a history to close. Granted it would stay on your report for 10 years, but I would keep it on you report. The Marriott 80K sign up bonus is pretty good if you ask me.

Others will be more beneficial regarding what your best course of action would be, and what other cards would fit you best...just wanted to chime in how I like the Marriott Card, and to not close your oldest account.
Cards Currently In My Wallet(See Avatar)
Chase Marriott Rewards Visa Signature (Daily Purchase): 13.4K
NFCU Visa SignatureCash Rewards: 5K
Sheetz Discount Card 3c Off PerGallon Of Gas Everyday

Total Credit Card Limits Roughly: 61.5K

drmoo
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Re: Changing up cards

Postby drmoo » Sat Jul 18, 2015 10:28 pm

Thanks

It was a toss up between the discover and master card. Both had long histories, kept the slightly older one.

Was hoping I could transfer it to a better Citi card, but chances are I'd lose my history with it :|

As I just signed up for the Southwest card (fly it often to visit family in Texas). I think I need to wait a few months before making other cc changes?

I've loved the SPG points redemption and what not. Just not as happy with the SPG properties for the most part.

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obxfisherman
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Re: Changing up cards

Postby obxfisherman » Sat Jul 18, 2015 10:32 pm

drmoo wrote:As I just signed up for the Southwest card (fly it often to visit family in Texas). I think I need to wait a few months before making other cc changes?



Applying for another CC would depend on how many HP you have on your report, as well as income...well on second thought the Southwest Card is with Chase too, so yes i'd probably wait to apply for the Marriott since it is also chase, for at least a few more months. I have 5 Chase cards...don't plan on getting anymore, but they were done in month increments, never all at once.
Cards Currently In My Wallet(See Avatar)
Chase Marriott Rewards Visa Signature (Daily Purchase): 13.4K
NFCU Visa SignatureCash Rewards: 5K
Sheetz Discount Card 3c Off PerGallon Of Gas Everyday

Total Credit Card Limits Roughly: 61.5K

drmoo
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Re: Changing up cards

Postby drmoo » Sat Jul 18, 2015 10:37 pm

Thanks. Was just reading an article on nerd wallet . com about the interval.

Pretty good income, new home owner. No CC debt.

They recommended at least 3-6 months before doing another.

I'd love the Marriot card, but I'd like to keep an Amex in my wallet.

Maybe switch out the CSP for the Marriot, then down the road get into an Amex Gold or something?

CSP is a nice all around rewards card though. Tough decisions.

As for the HP, I'm sure there are a few on there now (mortgage applications, I think ATT ran another HP when I moved service from my apt to the house).

I'd have to get a copy of my credit score again to check again now.

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obxfisherman
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Re: Changing up cards

Postby obxfisherman » Sat Jul 18, 2015 10:53 pm

drmoo wrote:
I'd have to get a copy of my credit score again to check again now.



You could sign up for credit karma if you aren't familiar with them. They pull your credit (soft pull) and they allow you to see inquiries open accounts, etc. They also produce a credit score, but it is highly inaccurate. That may be something for you to look into if you haven't already. It is free.
Cards Currently In My Wallet(See Avatar)
Chase Marriott Rewards Visa Signature (Daily Purchase): 13.4K
NFCU Visa SignatureCash Rewards: 5K
Sheetz Discount Card 3c Off PerGallon Of Gas Everyday

Total Credit Card Limits Roughly: 61.5K

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CarefulBuilder14
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Re: Changing up cards

Postby CarefulBuilder14 » Sat Jul 18, 2015 11:16 pm

obxfisherman wrote:I LOVE my Marriott Card...it's practically the only card I use...this is in part due to me being a Marriott Loyalist, and part because I have platinum status. Others in this forum may bring up that the card isn't worth it unless you have Gold or Platinum status, but I guess it comes down to personal preference. Personally I love the card even if you don't get as many points as you could with an alternate card.

That's pretty much it. It's a great card for someone who has a lot of paid stays there, likes comfortable rooms, and can benefit from status. It's a card for earning room upgrades, since free nights require a lot of spending.

Gold and Platinum status require a lot of travel and spending. Silver status doesn't offer much.

Regarding the rewards program...if you let your reward points/nights expire through account inactivity, do you also lose the value of those points towards lifetime status? How do the $10k/$75k Ritz card spending levels count towards lifetime status?
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

Vermonster
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Re: Changing up cards

Postby Vermonster » Sun Jul 19, 2015 8:44 am

I don't think an Amex gold would be worth having at the same time as a CSP. They are so similar and both have a high AF. I would consider a Freedom to leverage more UR's out of purchases, then transfer them to your CSP when you want to spend. Right now the freedom has 5% on Gas until September 30.

I think an EDP or BCP would be a better compliment to the list of cards you already have. The EDP is a bit better if you can meet the 30 swipes per month. If not, the BCP is a very close second.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k



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