My Credit Card Roster Cuts and Adds over the next year

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My Credit Card Roster Cuts and Adds over the next year

Postby American » Sat Aug 18, 2012 8:02 pm

So I have a lot of cards… and I want some feedback on this:

First up, American Express. I have 4, which means $$$ annual fees galore:

1. Premier Rewards Gold: Benefits are nice, and having a Charge card always is comforting. (Keeper)
2. Blue Cash Preferred: Will keep this card until I die. (Keeper)
3. Starwood Preferred Guest: I'm unsure. It's nice, but is it necessary 1% back kinda blows.
4. Delta Gold card: I got it for the sign up bonus of 40k. It mostly is awful in comparison to Amex PRG 3x on flights. (Goodbye).

Secondly, Chase & Discover.

I have the Freedom and IT. I like both, and the 5% Categories are awesome!

Thirdly, Citi.
When the Diamond Rewards intro 0% APR runs out next october, I think this card will be Product Changed, but I don't know to what. I'm thinking either Dividend or Forward.

Fourthly BarclayCard: I have the Apple Store financing card. I originally thought about product changing this to the Ring or canceling it. It's just this year I got another offer for 12 months 0% on Apple purchases, which is AWESOME! I'm trying to figure out if this is an annual thing.

Lastly, Capital one. I have some Journey card that womps. It'll forever be $750 CL. I never use it, and I've almost cancelled it 3 or 4 times.


So starting in March, I think I'm going add a couple cards to my rotation.
Chase Sapphire Preferred
Chase Ink Plus or Bold
US Bank Cash+
Discover Escape
Upgrading to Amex Platinum for more benefits. I really want to get a 50k upgrade bonus.

So next year, my wallet could look like:

Amex Platinum: Benefits + Travel (mainly global entry, airline credit, and SPG Gold Status)
Amex BCP: Groceries
Amex SPG: for staying at SPG hotels

5% Cards: Forward, Freedom, IT, Cash+, Ink+ (Utilities)

Chase Sapphire Preferred for other non-category purchases

Total Annual Fees: $685… I know that's a lot, but I'd be getting mostly 5% on all purchases, and I'll be banking from a lot of signup bonuses, that will be more than the annual fee.

Any thoughts? I have a Chase checking account, so using the Chase trifecta is pretty awesome.
American Express '02: Platinum, Blue Cash Preferred 6k, SPG 2k, Delta Gold 1k
Barclaycard '11: Apple Financing Card 2.5k
Citi: Diamond Rewards 1.5k
Chase: Freedom 500
Discover '12: Discover IT 1.5k

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Postby DavidNY » Sat Aug 18, 2012 9:04 pm

I'd suggest a 2% cash back card for whichever categories the higher cash back cards miss.

If you use Amazon or dine out a lot, I'd recommend getting the CItibank card changed to a Forward.

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Postby jlam572 » Wed Aug 29, 2012 3:10 am

I thought if you upgrade to the platinum amex from PRG then you wont get the bonus points? *shrugs*
American Express Platinum
Chase Sapphire Preferred
Hawaiian Airlines BOH MC
Capital One Visa Platinum
Citi Diamond Preferred MC

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Postby djrez4 » Wed Aug 29, 2012 9:10 am

I think your plans are good and have some of the same for myself. Not sure if you can get the 50k upgrade bonus, but if you can, great! If you can pull off the minimum spends to get all of those bonuses, even greater!

I looked at Ink! cards, but I don't really spend enough as a business to justify it. If I were to get one, it would be the Classic. I guess I could see having the Bold or Plus, but not at the same time as CSP. I can't justify two annual fees for those. Now, as a churn card, I definitely see the benefit of those cards. 25k points on the first purchase is nothing to sneeze at.

My definite plans - 61-day, 3x CLI on the Costco Amex in October. CLI on the remaining cards in January and February of 2013. Get Chase to upgrade my Freedom to Signature status and US Bank to do the same to the REI Visa.

I'm relatively pleased with the contents of my wallet right now, but I'm considering downgrading my Amex Gold to Green and getting the CSP for travel. Then, the trifecta will be in play and I can transfer points to United. I'm also looking into the Cash+ and perhaps a BCE with tentative plans to upgrade to BCP when we have kids.

The major task, however, will be to convince the wife that Dave Ramsey is only good for people who have no money and can't handle what they do have, and that there's absolutely no reason not to be getting at least 1% back on everything, every day. Cash is obsolete outside of airport skyhops and strip clubs.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]

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Postby FutureBillionaire » Wed Aug 29, 2012 10:26 am

What is the benefit of the chase cards? What is the Chase trifecta? The escape card will get you 2% on everything and is a solid card. Do you travel enough to get a good benefit from the platinum?
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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Postby djrez4 » Wed Aug 29, 2012 12:45 pm

FutureBillionaire wrote:What is the benefit of the chase cards? What is the Chase trifecta?

Bonus points at 10% + 10 if you have a Chase checking account and, with the CSP, you can rack up more points and transfer 1:1.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]


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Postby Money card » Sat Sep 01, 2012 11:40 pm

American you have good cards.
I understand where your comming from with the gold and the Delta gold. but if you were to have lunch at a Delta owned property or purchase anything on Delta property except airline tickets what points do you get with the gold premiere vs gold Delta, if you travel with say 6 people
each person is bringing 3 bags how much would the first bag per person be if you used your gold premiere rewards to book the flights
and what would the cost be if you used the Delta gold on the first 6?

the starwood perfered guest is only necessery if you travel on business, you stay at starwood hotels, you get amenties I think you get
3 points per dollar and you can tranfer to your starwood account., you get room upgrades there are different levels of the starwood perferd guest this you need to call American express to go over this.

if you don't travel on company business this card isn't for you.

American you have great cards.

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