Credit card reform, advice needed

For just about anything you want to get off your chest about credit cards.
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kdm31091
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Re: Credit card reform, advice needed

Postby kdm31091 » Tue Feb 14, 2017 4:16 pm

CarefulBuilder14 wrote:Whatever you decide on, I'd not add anything else for a bit. Opening and closing accounts frequently can become a headache unless it's part of a particular plan...and your credit plans change often.

Agreed. Generally speaking there is no major rush so take it easy and evaluate your options before closing/opening/closing/etc.


mountaindewvoltage
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Re: Credit card reform, advice needed

Postby mountaindewvoltage » Tue Feb 14, 2017 11:27 pm

CarefulBuilder14 wrote:Whatever you decide on, I'd not add anything else for a bit. Opening and closing accounts frequently can become a headache unless it's part of a particular plan...and your credit plans change often.


Agreed, need to build the AAoA and get rid of every inquiry I have. For now if I need TrueBlue or HHonors points, the PRG is the card to use, even if AMEX has HHonors cards worth looking at. I wish AMEX still had the TrueBlue card instead of not being able to negotiate to the point where Craplays now has them.

Good point about the plan in the future. I guess it depends on whether or not I'll be a single man still. It's not encouraging to go on vacation by yourself, lol.

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CarefulBuilder14
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Re: Credit card reform, advice needed

Postby CarefulBuilder14 » Sun Feb 26, 2017 12:16 am

CarefulBuilder14 wrote:It may help to develop a sort of "decision tree" to help you determine which cards you'll use in certain situations...and which may actually be useless.

My tree (somewhat simplified...a 100% accurate and thorough one would take ages to write out) is:

1. Do I distrust the merchant, or does the merchant have some very unfavorable return/warranty policy?
If yes, use Platinum.
If no, go to the next step.

2. Do I think I can get a Price Rewind for it?
If yes, use Prestige or AA/Costco. (I occasionally switch between them in case some fortunate surprises bring me near the annual limit on either one.)
If no, use what gives me the most rewards.

Complicating this otherwise simple tree are factors like special offers, limited network acceptance, FTFs, keeping "special use" cards active, categorizing some expenses for simplicity, etc.

I filed my first extended warranty claim with Citi for a $100 appliance. I had used Prestige for the purchase thinking...maybe correctly, maybe incorrectly...that Citi honored the extended warranty perk consistently and efficiently. Price protection was my priority.

I was able to submit the initial extended warranty claim over the phone, but it may take time to process and they will probably ask for some documentation. The manufacturer warranty is full of holes and exclusions and unlikely to be useful. I pointed out the holes to the CSR, so I hope my claim will not be denied by someone reading through quickly on the basis that I should have first pursued the manufacturer warranty. I declined to purchase the retailer's warranty.

Depending on how smooth and successful the rest of the claim process with Citi is, I may expand or reduce the circumstances which call for Platinum.
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: Credit card reform, advice needed

Postby CarefulBuilder14 » Sun Mar 05, 2017 12:41 pm

CarefulBuilder14 wrote:
CarefulBuilder14 wrote:It may help to develop a sort of "decision tree" to help you determine which cards you'll use in certain situations...and which may actually be useless.

My tree (somewhat simplified...a 100% accurate and thorough one would take ages to write out) is:

1. Do I distrust the merchant, or does the merchant have some very unfavorable return/warranty policy?
If yes, use Platinum.
If no, go to the next step.

2. Do I think I can get a Price Rewind for it?
If yes, use Prestige or AA/Costco. (I occasionally switch between them in case some fortunate surprises bring me near the annual limit on either one.)
If no, use what gives me the most rewards.

Complicating this otherwise simple tree are factors like special offers, limited network acceptance, FTFs, keeping "special use" cards active, categorizing some expenses for simplicity, etc.

I filed my first extended warranty claim with Citi for a $100 appliance. I had used Prestige for the purchase thinking...maybe correctly, maybe incorrectly...that Citi honored the extended warranty perk consistently and efficiently. Price protection was my priority.

I was able to submit the initial extended warranty claim over the phone, but it may take time to process and they will probably ask for some documentation. The manufacturer warranty is full of holes and exclusions and unlikely to be useful. I pointed out the holes to the CSR, so I hope my claim will not be denied by someone reading through quickly on the basis that I should have first pursued the manufacturer warranty. I declined to purchase the retailer's warranty.

Depending on how smooth and successful the rest of the claim process with Citi is, I may expand or reduce the circumstances which call for Platinum.

After a few days, with no further action on my part, I got a statement credit for the amount of my claim. A fairly smooth process compared to what I've heard others report.
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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