What to Charge on What Cards?

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@SoFla
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What to Charge on What Cards?

Postby @SoFla » Tue Oct 07, 2014 10:26 am

I have been reading on and on and on about credit on this forum for about a solid week or two now :/ and I have learned more about credit than i've learned, ever.

That being said, let the learning continue! Now that I have the cards i want for the moment, I want to use my cards the best I can. For arguments sake I would like to table the capital one quicksilver card (I will use this the least) --> unless someone has a better suggestion that works for them...

With an AMEX PRG, a Barclay Arrival + WEMC, and a Chase Freedom...where should my expenses go...deciding which cards to use for certain expenses will go a long way in making sure that the annual fees are worth it, and the rewards keep rolling in,

My thoughts follow:
-AMEX PRG- Gas and Groceries
-BarclayArrival+ Travel and BILLS
-Chase Freedom - Everything else

Does anyone have any suggestions that they find works best for them? Thanks again!


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CarefulBuilder14
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Postby CarefulBuilder14 » Tue Oct 07, 2014 10:34 am

Arrival+ will give better rewards than Freedom for non-5% spending. The only reward-based reason to favor the Freedom would be if you had a CSP and wanted to transfer points to UR partners.

That would mean having MR points, UR points, and the Arrival+ as competing travel reward systems, but maybe you like the variety. Or maybe you like the Freedom's limit or customer service, etc.

Unless you really like having a charge card, you could replace the PRG with a BCE or Sallie Mae.

Also, unless you want to use MR transfer partners, the Arrival+ would give better rewards than the PRG for gas and groceries.
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

@SoFla
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Postby @SoFla » Tue Oct 07, 2014 10:51 am

CarefulBuilder14 wrote:Arrival+ will give better rewards than Freedom for non-5% spending. The only reward-based reason to favor the Freedom would be if you had a CSP and wanted to transfer points to UR partners.

That would mean having MR points, UR points, and the Arrival+ as competing travel reward systems, but maybe you like the variety. Or maybe you like the Freedom's limit or customer service, etc.

Unless you really like having a charge card, you could replace the PRG with a BCE or Sallie Mae.

Also, unless you want to use MR transfer partners, the Arrival+ would give better rewards than the PRG for gas and groceries.


Great ideas, what is MR (i know the answer is going to be blatantly obvious :/ and even though a BCE has no annual fee, isnt the PRG worth it because of the 3x,2x,1x more points you can accumulate?

TheSwarm
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Postby TheSwarm » Tue Oct 07, 2014 10:54 am

@SoFla wrote:Great ideas, what is MR (i know the answer is going to be blatantly obvious :/ and even though a BCE has no annual fee, isnt the PRG worth it because of the 3x,2x,1x more points you can accumulate?


MR = Membership Rewards points (AMEX rewards points)
UR = Ultimate Rewards (Chase rewards points)

I think he was saying you could get spread too thin if you're trying to rack up MR, UR, and Arrival miles.

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Vattené
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Postby Vattené » Tue Oct 07, 2014 11:15 am

To answer your later question first, the PRG may not be worth it even for category spending if you can get a better value out of Barclay's miles (plus you get 2x on everything anyway).

I agree sockdrawering the QS and spreading your spending across your other three cards is a good idea. If I were you, I would make my primary concern the rewards earned on any given transaction, my secondary concern the points system for each card, and my tertiary concern recoupong annual fees.

(1) Rewards:
You definitely want to use your Freedom for any category spending you have, and put all gas and grocery purchases through the PRG. When the Freedom has gas as a category, I would favor it over the PRG. That is the easy part. Now you have to figure out how to divide up the rest of your spending. You may also need to make choices on the transactional level in special circumstances to get a card's perks (e.g., using the PRG for a computer for extended warranty).

(2) Points System:
For the rest, I would recommend figuring out which card's rewards you prefer. This may put the Freedom in last place. Depending on how highly you value Barclay's miles and Amex's MR system, Freedom's cash back could easily be valued the lowest, unless, for example, there is a discounted gift card for which you would like to redeem. Is there a clear front-runner among the other two?

(3) Cost Recovery:
Of course, you will still want to make sure you're getting enough points on each card that you're not netting a loss. Since the Freedom has no annual fee, everything earned is pure "profit." With its simple cash back program, you may find it optimal to use the Freedom exclusively for category spending. Maybe you prefer Barclay's 2x miles to Amex's MR points. Besides gas and groceries, you could put all recurring bills through the PRG (phone, internet, etc.) to make sure you're still spending enough to justify keeping it.

Anyway, there's my two cents. I think you have a nice lineup of cards.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now

@SoFla
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Postby @SoFla » Tue Oct 07, 2014 11:55 am

TheSwarm wrote:MR = Membership Rewards points (AMEX rewards points)
UR = Ultimate Rewards (Chase rewards points)

I think he was saying you could get spread too thin if you're trying to rack up MR, UR, and Arrival miles.


Ah I understand, makes sense...definitely something to consider, only way to find out is to see how it goes and adjust from there, thanks to both of you

@SoFla
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Postby @SoFla » Tue Oct 07, 2014 12:15 pm

Vattené wrote:To answer your later question first, the PRG may not be worth it even for category spending if you can get a better value out of Barclay's miles (plus you get 2x on everything anyway).

I agree sockdrawering the QS and spreading your spending across your other three cards is a good idea. If I were you, I would make my primary concern the rewards earned on any given transaction, my secondary concern the points system for each card, and my tertiary concern recoupong annual fees.

(1) Rewards:
You definitely want to use your Freedom for any category spending you have, and put all gas and grocery purchases through the PRG. When the Freedom has gas as a category, I would favor it over the PRG. That is the easy part. Now you have to figure out how to divide up the rest of your spending. You may also need to make choices on the transactional level in special circumstances to get a card's perks (e.g., using the PRG for a computer for extended warranty).

(2) Points System:
For the rest, I would recommend figuring out which card's rewards you prefer. This may put the Freedom in last place. Depending on how highly you value Barclay's miles and Amex's MR system, Freedom's cash back could easily be valued the lowest, unless, for example, there is a discounted gift card for which you would like to redeem. Is there a clear front-runner among the other two?

(3) Cost Recovery:
Of course, you will still want to make sure you're getting enough points on each card that you're not netting a loss. Since the Freedom has no annual fee, everything earned is pure "profit." With its simple cash back program, you may find it optimal to use the Freedom exclusively for category spending. Maybe you prefer Barclay's 2x miles to Amex's MR points. Besides gas and groceries, you could put all recurring bills through the PRG (phone, internet, etc.) to make sure you're still spending enough to justify keeping it.

Anyway, there's my two cents. I think you have a nice lineup of cards.


Awesome feedback, and almost exactly along the same lines for how I wish to use them, and to answer your questions, No there is no clear front runner between the PRG and Arrival+....

Thanks Again, this is a good gameplan, appreciate it, all of ya

Naa Laa
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Postby Naa Laa » Tue Oct 07, 2014 12:34 pm

I would also recommend using wall.by to get you started with maximizing rewards on credit cards.
https://www.walla.by/

@SoFla
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Postby @SoFla » Tue Oct 07, 2014 12:49 pm

Naa Laa wrote:I would also recommend using wall.by to get you started with maximizing rewards on credit cards.
https://www.walla.by/


Nice, looks useful, thanks for the rec

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Vattené
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Postby Vattené » Tue Oct 07, 2014 12:53 pm

I also want to point out: I'm not a Chase member, but I am pretty sure you won't have to worry about UR points. The Freedom just gets cash back. If you have a Freedom and a CSP you can convert Freedom rewards to UR, but in your case this won't be applicable. As CarefulBuilder14 mentioned many want both cards to have access to the more valuable UR system, but since you already have two strong rewards systems on AF cards, this would likely not be to your benefit.
-Vattené
FICO-8:
EX - 809 (11/16) | TU - 803 (11/16)
Primary Cards:
American Express EveryDay - $20,000 (10/14)
Discover it - $23,000 (2/14)
AU on Barclay Sallie Mae - $10,000 (8/15)
plus several store accounts of varying usefulness now



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