Current wallet cards vs sock drawer

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MemberSince99
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Current wallet cards vs sock drawer

Postby MemberSince99 » Fri Jun 14, 2013 9:35 pm

In my case, my current wallet is both Amex cards, CSP and the FNBO card. I'm kind of on the fence about the Fidelity and BofA cards - they probably won't ever grow, but they don't really need to.

That leaves both Associated cards on the outside. They are issued and serviced by Elan, which I really don't particularly care for (it's US Bank, same thing, just like FIA is basically BofA). They don't seem to want to show the luv with that Signature Visa as I've had it 13 months now and it's hardly budged on limit, in spite of a lot of heavy spending on it and PIF. I could ask but 1. it would be a hard pull if I ask and 2. It's on the short list to get canned anyway. They did give me a nice boost on the Platinum I have to give them that.

I guess I'm just waiting for the Amexs to report, as the Associated cards are my oldest revolvers, and once those report, which they should be in about 10 days or so, I'll probably go ahead and close both Associated cards.

By the way, I noticed Chase SP me on EX June 1, and Amex did on June 6th. They both kind of keep a wary eye on you for a while. Can't really blame them.


TheLethargicAge
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Postby TheLethargicAge » Fri Jun 14, 2013 9:52 pm

What are the rewards on the FNBO card? I'm trying to figure out why you would prefer it over the FIA Amex.
Blue Cash Preferred ($24K), Costco TrueEarnings ($8K), Better Balance Rewards ($6K), CashForward ($15K), Sallie Mae Rewards ($10K), Quicksilver ($17K), AARP Rewards ($15K), Freedom ($15K), Double Cash ($16.5K), It ($28.5K), Fidelity Investment Rewards ($18K), Cash+ ($11K)

MemberSince99
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Postby MemberSince99 » Fri Jun 14, 2013 10:05 pm

I think 2% on gas and groceries and 1% on everything else. I realize the FIA has 2% across the board which is a good thing. But you have to remember, FNBO allows you to call in every 4 months to see if you are eligible for a SP CLI. If you are, you get an increase, no HP. With FIA you are very likely going to take a HP if you request an increase, not 100%, but I would expect a hard inquiry as a rule with them.

So the FNBO card has more growth potential at less cost in terms of inquiries. Plus when I call them I get Americans who are almost as good as Discover. With BofA, you just never know who you will talk with - will it be one of their good reps or Peggy? So far I've had only good experiences all in all even with the foreign CS but I don't call them much either. (Twice, the first time I got an American, the second time a foreign rep, both were good experiences).

And you may question this, but they beat my high limit card, I mean flat out beat it to give me my current high limit. They wanted my business, clearly, by doing that, and I find it hard not to want to reward that. The companies that don't do that are now gone (that means you Discover, Barclay's, etc with your toy limit cards that won't grow).

Those are my reasons, good or bad.

Robrus1
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Postby Robrus1 » Fri Jun 14, 2013 10:44 pm

I am carrying my Platinum, BCP, CSP, and that's it. I now have all bases covered and these three cards should be all I need. Feels good! Gas, groceries, restaurants, now all earn more than 1%. I have two good options for travel so that's covered and both earn double points on travel. .....pacing and waiting on my Centurion invitation.....lol
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

Marcov719
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Postby Marcov719 » Fri Jun 14, 2013 11:41 pm

MemberSince99 wrote:I think 2% on gas and groceries and 1% on everything else. I realize the FIA has 2% across the board which is a good thing. But you have to remember, FNBO allows you to call in every 4 months to see if you are eligible for a SP CLI. If you are, you get an increase, no HP. With FIA you are very likely going to take a HP if you request an increase, not 100%, but I would expect a hard inquiry as a rule with them.

So the FNBO card has more growth potential at less cost in terms of inquiries. Plus when I call them I get Americans who are almost as good as Discover. With BofA, you just never know who you will talk with - will it be one of their good reps or [color="red"]Peggy[/color]? So far I've had only good experiences all in all even with the foreign CS but I don't call them much either. (Twice, the first time I got an American, the second time a foreign rep, both were good experiences).

And you may question this, but they beat my high limit card, I mean flat out beat it to give me my current high limit. They wanted my business, clearly, by doing that, and I find it hard not to want to reward that. The companies that don't do that are now gone (that means you Discover, Barclay's, etc with your toy limit cards that won't grow).

Those are my reasons, good or bad.


Peggy, aka Mr Petrut my old high school algebra teacher lol

MemberSince99
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Postby MemberSince99 » Sat Jun 15, 2013 8:51 am

Really you had a teacher like that? :)

Ok this is what I did - I've sock drawered the Associated cards they are no longer in my wallet. I've done the same with the BofA and FIA cards but put a small recurring monthly charge on each that comes nowhere near the statement date so I can pay them on my second pay day every month (not that I have to wait just a good time to remember to do that, otherwise it's just use and forget to make this process easier).

The Amex cards get the bulk of the spending but Chase gets rent and I'm sure other things as well and is the go to card when they don't take Amex. The FNBO card is a rotater.

A little more complicated than I'd ideally like, so maybe eventually I put another specific payment on the FNBO and take that out of the picture and just carry 3 cards in my wallet. That will make life a lot simpler it's just too damn complex trying to manage 8 different cards, at least for me, on a monthly basis. I mean I CAN do it, I just don't WANT to do it. Life is complex enough without making it worse.

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Snowman
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Postby Snowman » Sat Jun 15, 2013 9:43 am

I keep all my cards this quarter except for my Discover (not a useful category for me). It will come out soon, and then probably my PRG will get rotated out. In about 5 months, I am planning to apply for the Marriott Rewards or the premier version and the Citi AAdvantage so the PRG will be gone in October, and I'll have all the cards I really need or want.
Bank Of America: BankAmeriCard Cash Rewards-4.2k
Citi: Forward-4.5k American Airlines Advantage Platinum Select World Elite MasterCard 9/6/15-4K
Discover: More-7k
Amex BCE.2k- Amex SPG-5k
Chase: Freedom-5kSouthwest Rapid Rewards Plus- 3.6k
Capital one: Venture one-10,000, Visa Signature.

MemberSince99
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Postby MemberSince99 » Sat Jun 15, 2013 10:38 am

You have a nice collection of cartds Snowman. Just have to get some CLIs on them. I think once you break the 5k barrier, from then on it will be all smooth sledding. I have never had a Citi so I have no first hand experience with them (and never will since they really do not like me) but from what I've read they seem to be generous with limits and CLIs, maybe they will bump your Forward card up a bit.

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djrez4
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Postby djrez4 » Sat Jun 15, 2013 11:12 am

Travelling this weekend. The wallet has: Platinum, BRG, CSP, and Ink Bold.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

Marcov719
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Postby Marcov719 » Sat Jun 15, 2013 12:06 pm

MemberSince99 wrote:Really you had a teacher like that? :)


Peggy from the Discover commercial was my algebra teacher. Sorry for taking your thread off-topic haha

Chase Freedom from time to time stays in the sock drawer. I don't have a complicated life style of credit cards, yet.



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