On the right track?

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
6 posts
HighQuality
 
Posts: 2
Joined: Thu May 29, 2014 12:22 pm
Location: NJ

On the right track?

Postby HighQuality » Thu May 29, 2014 12:44 pm

Hi everyone,

I did some reading around here, and I think I'm on the right track based on what I've read, but I'd like to double check.

I currently have a Discover that I am happy with, so I have no interest in the Chase Freedom. I also have a Capital One that I am happy with that I will be keeping as a catch all. I've read a lot of mixed reviews about CO's CS, but they've always been great to me and have never denied a CLI.

I have excellent credit (804 FICO)

I am considering adding the AMEX Blue Cash and the Sallie Mae Mastercard.

Gas spending is $120-$150/month. Less in the summer, due to commuting by motorcycle.

Food spending is $130-150/week ($6700-$7800/yr.)

Amazon spending is ~$4000/year.

I buy a decent amount of clothes and shoes from the department stores on the AMEX's department store list.

Are these the best cards to fill out my portfolio?

Thank you!!


antiism
Green Member
Green Member
 
Posts: 4
Joined: Thu Apr 17, 2014 3:28 pm
Location: USA

Postby antiism » Thu May 29, 2014 9:58 pm

Food spending is $130-150/week ($6700-$7800/yr.)


You need to break your food spending into categories, specifically: groceries, fast food/pizza, sit down restaurants. They show up as different categories so it makes a big difference with which cards to get. If you spend less than $250/month on groceries, skip the Amex and just go with Sallie Mae. As someone else mentioned, the Cash+ is best for restaurants and fast food, although, you could drop one of those categories in favor of department stores.

freyj6
Platinum Member
Platinum Member
 
Posts: 82
Joined: Tue Jan 28, 2014 5:29 am
Location: United States

Postby freyj6 » Fri May 30, 2014 4:33 am

From what you listed, probably yes. If you travel some and don't mind getting complicated enough to use transfer partners, the AMEX Everyday Preferred might be a good option for you too (if you can get a value of 1.5-2 cents on MR points that is -- if not, or you don't want to bother, just get the Blue Cash Preferred).

Anyway, looks good. Cool that you can find 5-6% cards that cover the bulk of your spending :)
Current Strategy

Chase Freedom + Discover IT + Churning

takeshi
Centurion Member
Centurion Member
 
Posts: 1733
Joined: Wed Jun 05, 2013 3:12 pm
Location: US

Postby takeshi » Fri May 30, 2014 9:41 am

HighQuality wrote:I am considering adding the AMEX Blue Cash and the Sallie Mae Mastercard.

Which Blue Cash and why are you adding both? +1 to the comment that a breakdown on "food" is needed. Groceries and dining out (and even restaurants versus fast food) are typically considered different spend categories.

HighQuality
 
Posts: 2
Joined: Thu May 29, 2014 12:22 pm
Location: NJ

Postby HighQuality » Fri May 30, 2014 11:30 am

Apologies, I wasn't quite as clear as I could be. $130-$150/week is grocery stores exclusively. That's why I was looking at adding both.

In retrospect, I am rather hesitant about spreading my rewards across too many cards. I'm also kind of suspicious of the Sallie Mae's 5% on Amazon sticking around.

Fast food is never. Restaurants are 1-3 times per month, tops. Most of the time I'd rather cook some nice meat myself.

takeshi wrote:Which Blue Cash and why are you adding both? +1 to the comment that a breakdown on "food" is needed. Groceries and dining out (and even restaurants versus fast food) are typically considered different spend categories.


I was planning on the Preferred card. (6000*.06)-75 is $285 while 6000*.03 is $180.

Thanks for the replies.

User avatar
Terry
Centurion Member
Centurion Member
 
Posts: 119
Joined: Fri Sep 28, 2012 9:22 pm
Location: Texas

Postby Terry » Wed Jun 04, 2014 8:01 pm

HighQuality wrote:Hi everyone,

I did some reading around here, and I think I'm on the right track based on what I've read, but I'd like to double check.

I currently have a Discover that I am happy with, so I have no interest in the Chase Freedom. I also have a Capital One that I am happy with that I will be keeping as a catch all. I've read a lot of mixed reviews about CO's CS, but they've always been great to me and have never denied a CLI.

I have excellent credit (804 FICO)

I am considering adding the AMEX Blue Cash and the Sallie Mae Mastercard.

Gas spending is $120-$150/month. Less in the summer, due to commuting by motorcycle.

Food spending is $130-150/week ($6700-$7800/yr.)

Amazon spending is ~$4000/year.

I buy a decent amount of clothes and shoes from the department stores on the AMEX's department store list.

Are these the best cards to fill out my portfolio?

Thank you!!



I have really enjoyed my BCE. Certainly a MUST in one's wallet.
AMEX Green Card - NPSL [Member Since 1995]
AMEX Everyday Card ($25,000)
Chase Visa Signature ($17,000)
Citi Visa Signature ($16,000)
Discover IT ($17,500)
Sam's Club MasterCard - ($20,000)
Wells Fargo Personal Line of Credit - ($15,000)

FICO's - 803 EX, 805 EQ, 799 TU [01/2017]



Return to “Rewards”

Who is online

Users browsing this forum: No registered users and 2 guests