Best Credit Card Combination for rewards?

[kkapdolee]

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@jenn_bar wrote:

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@kkapdolee wrote:

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@longtimelurker wrote:

I see your note about AF, but BCP is a better choice than BCE for almost everyone.   Other good cashback cards include Fidelity Amex (2%), US Cash Plus for its selectable 5% categories, cards for Amazon if you buy stuff there (Cash Plus, Sallie Mae), entertainment (Citi Forward if you are a student) etc.

Depends on where you spend.  And travel is a much bigger category.  Basically the choice is between cards specific to a particular airline/hotel chain (which get FF miles/points, and allow things like free bags, priority boarding, free stays), cards where you can transfer points to partners (CSP, Amex MR cards, SPG) and travel cards that are really cash back with extra rewards for redeeming for travel (Venture, Arrival).

And for higher AF, you will get things like lounge access, airline/hotel status etc

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I looked into US Cash Plus and it looks really good. However, online it says I can only apply at a branch and there is no branch within 100 miles from where I live (Houston, TX). Is there any way to get this card via internet?

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No, you must go to a branch unfortunately (it's a great card to have!).

I think you also have to take into the fact of retention bonuses when there are cards with AF. Some banks are more willing to give retention bonuses than others, so I suggest you research it. Most of the times the retention bonus either takes care of the AF or minimizes it to make it worth the function of the card. Some are built into the card, like many hotel CC. ie. My Hyatt card comes with a yearly free night to any Hyatt in categories 1-4. In that case, I can make it worth more than the AF of $75.

PS If you get the CSP and don't like it after the first year, you can downgrade to a regular Sapphire with no AF. Regardless, you won't have the AF for the first year so you can see the benefits with the Preferred v. Regular.

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Thanks for the good info. I'd never heard about retention. It seems to be something I definitely should consider.

I will also look into CSP as well. Thanks.

[kkapdolee]

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@longtimelurker wrote:

Good point on retention.  The other thing I forgot to say is that earnings rewards on cash back cards, unless you spend a lot (which from your previous comments doesn't appear to be the case) are dwarfed by sign-up bonuses.   In other words, it is more profitable, frequently much more, to get a new card or two per year than to worry about which card gives the best reward for this transaction.   So the CSP and Arrival for example will each give you $400 after the spending requirement, whereas maxing out each quarter on the Freedom would give you only $300, and you would have to spend more than $50K on a 1.5% card to get $800.

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Yeah I agree. I'm big on going after the sign up bonuses from opening up new checking account at Chase to opening credit cards with big promotional bonuses. I opened a Amex Blue Sky a few months back because I got a promo that gave me 30,000 points for the first $500. (I erroneously thought that was a Amex BCE and started a thread about it... that was wrong information.) That is equivalent to $400 in travel expenses and 80% reward back on the first $500 which is just amazing. I took that offer and spent $500, got the bonus and never used it again since. I'm planning to use that $400 on a plane trip to Vegas soon.

So I do go after the sign up bonuses which probably add up to be greater than all the rewards I earn in a year but for the times that I'm not going for a new card, I want to make sure I use the best rewards cards each day. Plus, I'll eventually run out of new bonus cards to open.. or stop to take care of my AAoA.

[jenn_bar]

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@kkapdolee wrote:

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@longtimelurker wrote:

Good point on retention.  The other thing I forgot to say is that earnings rewards on cash back cards, unless you spend a lot (which from your previous comments doesn't appear to be the case) are dwarfed by sign-up bonuses.   In other words, it is more profitable, frequently much more, to get a new card or two per year than to worry about which card gives the best reward for this transaction.   So the CSP and Arrival for example will each give you $400 after the spending requirement, whereas maxing out each quarter on the Freedom would give you only $300, and you would have to spend more than $50K on a 1.5% card to get $800.

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Yeah I agree. I'm big on going after the sign up bonuses from opening up new checking account at Chase to opening credit cards with big promotional bonuses. I opened a Amex Blue Sky a few months back because I got a promo that gave me 30,000 points for the first $500. (I erroneously thought that was a Amex BCE and started a thread about it... that was wrong information.) That is equivalent to $400 in travel expenses and 80% reward back on the first $500 which is just amazing. I took that offer and spent $500, got the bonus and never used it again since. I'm planning to use that $400 on a plane trip to Vegas soon.

So I do go after the sign up bonuses which probably add up to be greater than all the rewards I earn in a year but for the times that I'm not going for a new card, I want to make sure I use the best rewards cards each day. Plus, I'll eventually run out of new bonus cards to open.. or stop to take care of my AAoA.

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Oh I hope this is never the case!!!

[kkapdolee]

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@Creditaddict wrote:

You have a Capital One according to your signature... why don't you PC that to Quicksilver and ask for CLI?

When were you denied? if in last 30-60 days I would recon that at same time... that seems silly they wouldn't approve.

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Capital one HATES me for some reason.

I tried PC and CLI on multiple occasions, called Cap1 EO for recon and everything. They would not do it.

I am not eligible for a PC and they just won't approve my CLI.

I'm planning on writing an email to their CEO later on but not right now as I have two new cards to take care of for sign up bonuses.

[Creditaddict]

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@kkapdolee wrote:

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@Creditaddict wrote:

You have a Capital One according to your signature... why don't you PC that to Quicksilver and ask for CLI?

When were you denied? if in last 30-60 days I would recon that at same time... that seems silly they wouldn't approve.

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Capital one HATES me for some reason.

I tried PC and CLI on multiple occasions, called Cap1 EO for recon and everything. They would not do it.

I am not eligible for a PC and they just won't approve my CLI.

I'm planning on writing an email to their CEO later on but not right now as I have two new cards to take care of for sign up bonuses.

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you need to send the e-mail to ceo now... not sure how you talked to EO before if it wasn't through the ceo email way... maybe you weren't actually in the right department because I have yet to hear EO not at least doing the Quicksilver PC... that is a basic given these days!!

just a quick short email is all you need.

Mr. Fairbank,

I currently hold a worthless Platinum Card with your company and after many many attempts with many different departments in your company this is the last time I will try to do something with your bank or I will close my product.

I would like to be product changed to the QuickSilver Card.

I would like my AF removed

I would like my APR reduced

I would like my Credit Line Increased to $10k

Thank you

Cardmember name

Card Number

Cell Phone Number

There you go... you probably will get a call in a few hours giving you 1-3 instantly and asking couple income questions and if you would consider less than $10k and they will send it for review and get back to you by next week for the CLI.

and done

[kkapdolee]

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@Creditaddict wrote:

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@kkapdolee wrote:

---

@Creditaddict wrote:

You have a Capital One according to your signature... why don't you PC that to Quicksilver and ask for CLI?

When were you denied? if in last 30-60 days I would recon that at same time... that seems silly they wouldn't approve.

---

Capital one HATES me for some reason.

I tried PC and CLI on multiple occasions, called Cap1 EO for recon and everything. They would not do it.

I am not eligible for a PC and they just won't approve my CLI.

I'm planning on writing an email to their CEO later on but not right now as I have two new cards to take care of for sign up bonuses.

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you need to send the e-mail to ceo now... not sure how you talked to EO before if it wasn't through the ceo email way... maybe you weren't actually in the right department because I have yet to hear EO not at least doing the Quicksilver PC... that is a basic given these days!!

just a quick short email is all you need.

Mr. Fairbank,

I currently hold a worthless Platinum Card with your company and after many many attempts with many different departments in your company this is the last time I will try to do something with your bank or I will close my product.

I would like to be product changed to the QuickSilver Card.

I would like my AF removed

I would like my APR reduced

I would like my Credit Line Increased to $10k

Thank you

Cardmember name

Card Number

Cell Phone Number

There you go... you probably will get a call in a few hours giving you 1-3 instantly and asking couple income questions and if you would consider less than $10k and they will send it for review and get back to you by next week for the CLI.

and done

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Hahaha

Thanks a lot for the awesome email template!

I was thinking of just opening QuickSilver as new instead of PCing so I can take advantage of their $100 sign up bonus. Your template will be very useful in either case.

I contacted the EO through a backdoor number. The person who answered the phone specifically said "Executive Office" so I think that was EO.

[Crashem]

OP,

Any reason the EQ score is so much lower than EX aside from different scoring models?

As someone mentioned earlier, unless you have significant spend, your best option reward wise is to gather sign up bonuses.  Yes your AAoA is hurt in short term.  But you seem to be younger.  Unless you have significant credit events coming up and your credit score can support it, getting a bunch of cards early is a good thing later on as your AAoA will be based on a huge amount of accounts and be barely effected by new cards in the future.

[kkapdolee]

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@Crashem wrote:

OP,

Any reason the EQ score is so much lower than EX aside from different scoring models?

As someone mentioned earlier, unless you have significant spend, your best option reward wise is to gather sign up bonuses.  Yes your AAoA is hurt in short term.  But you seem to be younger.  Unless you have significant credit events coming up and your credit score can support it, getting a bunch of cards early is a good thing later on as your AAoA will be based on a huge amount of accounts and be barely effected by new cards in the future.

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Thanks for the advice!

I have no idea why my EQ is so much lower than my EX.

I'm not even sure if my EQ was FICO 04 or something else. The letter said it was out of 300-850 so I just assumed FICO.

I'm trying to understand it better and have asked multiple questions on this thread.

http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/Difference-in-Scores/td-p/2384297/page/3

My understanding on AAoA was the same. I opened up my first CC 1 year and 4 months ago and I now have 10. I like to go after cards with both good sign up bonus and also good rewards so I can actually use them after the sign up period. My Amex Blue Sky was an exception as I basically got $400 back for spending $500 (80% reward) but those deals aren't that common.

Most cards I've seen have $100 back bonus for spending 500 or 1000. If I'm making a new card anyways, might as well have good enough rewards to be used later on.

[Networth]

CSP = for my general travel, dining, and URMall

Chase Ink= Gas, Cell bill, Satellite, Internet, Office supplies(gift cards)

Freedom= Rotating Categories

All these are combined into my Chase Ultimate Rewards account which I use for airfare and hotels. As someone has said I aim for maximizing one rewards program the most.

United Mileage Explorer plus= Airfare, checked bags, lounge access for international vacations, priority boarding. 

I do also have a Amex Blue Sky before that I got before I started the Chase Cards

I may get a SPG for when I am not staying at Hyatt, Marriott, or Ritz properties.