Credit Card Forum
  1. #1
    Platinum Member
    Join Date
    Jun 2008
    Location
    Illinois
    Posts
    60

    Default Which cards to use when

    Hi.

    Here's my situation.

    I have four major bank cards: AMEX BCP ( $30,000), Discover IT ($15,000), Chase Freedom Mastercard ($56,500), and BP Visa ($7500).

    AMEX BCP gets used for groceries, everywhere else where they take it, and gas (only when the Discover and Freedom don't have quarterly 5% gas promotions).

    Discover IT only gets used for quarterly promotions.

    Chase Freedom is my regular backup for AMEX, plus I use it for quarterly promotions.

    BP Visa was picked up when they first came up with this card, and I use it rarely, because it only pays 2.25% on BP gas, up to 20 gallons (My car has a 15 gallon tank). However, it is a VISA with a decent limit, so I am keeping it. Plus, you can redeem the next day at the pump, whatever you earn.

    I use mainly Shell and BP gas. I drive about 35 gallons monthly. I am in the Shell "Fuel Rewards Network."

    I do not want new cards.

    What is the best combo for me? What should I carry? What should I leave at home (I do want to maximize my rewards)? How does BP Visa fit in (or does it)?

    How many of these should I carry?

    Biggest expense: groceries about $6000 annually, and gas (but I am retiring at year-end, so will drive less).

    Sorry for the length !!
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  2. #2
    Centurion Member
    Join Date
    Jan 2013
    Location
    United States
    Posts
    527

    Default

    I think you are using the right cards properly...no need to change. The main blog on this site has written extensively about the lousy deals you usually get on gas from (ironically) credit cards from oil companies. I'd probably not carry it, but keep it around for the overall credit limit it provides you. It still makes you look good in the eyes of the credit world, especially if there is no balance on it.

    There is a free iPhone app called Smorecard that tells you the right card to use depending on the store you are in and what benefits your cards have in real time. Pretty nice to have around if you are unsure.

    And those credit limits on the other cards are insane. I carry the Chase Freedom Mastercard and I recently got bumped up to $25K. Clearly I have some work to do. Amex BCP at $30K and Discover IT at $15K are nice too. I've always thought we should have bragging rights around here for the most CL on the least amount of cards.
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  3. #3
    Centurion Member
    Join Date
    Jun 2011
    Location
    Down South
    Posts
    1,587

    Default

    Quote Originally Posted by Sevenfeet View Post
    I think you are using the right cards properly...no need to change. The main blog on this site has written extensively about the lousy deals you usually get on gas from (ironically) credit cards from oil companies. I'd probably not carry it, but keep it around for the overall credit limit it provides you. It still makes you look good in the eyes of the credit world, especially if there is no balance on it.

    There is a free iPhone app called Smorecard that tells you the right card to use depending on the store you are in and what benefits your cards have in real time. Pretty nice to have around if you are unsure.

    And those credit limits on the other cards are insane. I carry the Chase Freedom Mastercard and I recently got bumped up to $25K. Clearly I have some work to do. Amex BCP at $30K and Discover IT at $15K are nice too. I've always thought we should have bragging rights around here for the most CL on the least amount of cards.
    How good is that smorecard app?
    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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