Which cards to use when

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3 posts
Michael
Platinum Member
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Posts: 75
Joined: Sat Jun 07, 2008 6:11 am
Location: Illinois

Which cards to use when

Postby Michael » Tue Feb 19, 2013 8:33 am

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 !! :oooo


Sevenfeet
Centurion Member
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Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Tue Feb 19, 2013 8:45 am

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.
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

FutureBillionaire
Centurion Member
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Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Tue Feb 19, 2013 11:10 am

Sevenfeet wrote: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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