- Centurion Member
- Posts: 3751
- Joined: Thu May 08, 2014 7:42 pm
- Location: United States
I've had EDP now for six months and decided to do an analysis of my spending (in the pre-EDP past vs. the last 6 months, as well as expected changes) to get a clearer picture of how well the card was working.
1. Costco spending is up, and will likely remain high. This is good for EDP currently, but bad for EDP after the Costco switch to Visa.
2. Spending for the signup bonuses on Arrival and IHG didn't take (and Hyatt isn't taking) much in the way of gas or grocery purchases away from EDP. In other words, EDP has been working at close to full steam.
3. I am exceeding $250 in groceries every month, but not by a huge amount. The last six months had one $500+ month and one $400+ month. Mostly it's $300-$350. Before I got EDP, I was usually spending $400+. In part I'm eating less myself, and I'm cooking for a group less. I associate the value of EDP with getting some giant $150+ piece of meat for a big group, but that's really only likely to happen maybe 3 times a year in the future. Assuming Sallie hangs around and I combine it with BCE without accidentally overspending on Sallie very much...I'll still be earning conservatively 3.5% on groceries. That's pretty good for no AF.
4. My "miscellaneous" spending is pretty high, but I don't think 1.5 MRs is very much better than 1 UR.
5. The BA nerfs (MR/Avios conversion and short-haul partner rate) has to hurt my valuation of MRs, though I'm not sure exactly what value to assign to MRs now.
6. I don't terribly mind tracking my number of transactions, but the extra 50% isn't terribly lucrative compared to the alternative mix of Sallie, BCE, and UR cards. *The 50% bonus really only makes a worthwhile difference in months with a lot of groceries. The extra 50% on 1x/1.5x spending doesn't really do much since 1 UR is nearly as good.*
7. The offers I get on EDP are pretty close to what I get on BCE. The fact that I am paying an annual fee and using the card frequently isn't getting me better offers.
So my thinking is:
1. Keep the card with the AF if I can get a retention offer worth around $50. I'd use the card less, and almost certainly not get a retention bonus in spring 2017.
2. If I can't get one, try to PC the card to no-AF ED. *Maybe this should be my primary option...to drop the AF when I can.*
3. If I can't do either...I'm not sure what. Maybe I'll keep it if I get some good offers. *Closing it completely would be a last resort*.
I still think EDP is a great card for some people...it's just that I have a lot of great cards and its role is less clear as Amex, Costco, and my spending all change.
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