Obi-dan wrote:How often to cards go through major revamps? Do clients ever get grandfathered?
I've never applied for a card that was later phased out, but I have been enrolled in cards whose reward structures get revamped... and not on the side of generosity. :o)
Obi-dan wrote:How often are you all applying for new cards? Do you rotate around based off what the best offer is? Do you try to keep a stable of cards that should see you through most scenarios?
I think someone's habits reflect what their current goals are for their credit. The cards are just tools to get there, so your approach is going to vary depending on what your priorities are. For me, for example, I was surprised and indignant when I was told "No" on a Lowe's store card, because I was looking forward to that 5% discount for my biz and was regularly spending a good five digits at Lowes each year and was looking forward to getting rewarded for my loyalty. But even though I had access to about $40k in credit cards, it wasn't doing me much good. So I started applying for starter cards and ho-hum cards, because I wanted a sure acceptance, not because I needed another $2k here and $4k there, or because I liked their rewards. They're cards that I'll outgrow, and that's okay... because the important part to me is getting my credit as an individual to a point where I won't be told "no" if something ever happened to my husband, my marriage, or my family. As far as actual use goes, I use my Cap One 1% with a .5% annual bonus to isolate business expenses; I use my 1.33% BlueSky for hobbies and travel; and I bring my Freedom, WorldPoints, and ThankYou into play depending on what their rotating 2% and 5% categories are. I don't particularly like splitting up my points like that... I'd rather have one account with a million points instead of ten accounts of 100k each... but, since I'm just collecting the things for now, with no expectation of spending them anytime in the near future, it's no biggie.