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Frequent Contributor
Posts: 498
Registered: ‎02-08-2013
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Disliking revolving category cards

Probably just me, but revolving category cards have given me a slight headache. I guess I like to manage my expenses in detail on spreadsheets, and the changing categories (i.e. Freedom, Discover) makes it annoying. Just a rant @ 3 in the morn, anyone feel the same? =)

     
Frequent Contributor
Posts: 291
Registered: ‎03-17-2011
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Re: Disliking revolving category cards

I think we'd all like 5% off gas purchases year-round, but that's not happening. 

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Frequent Contributor
Posts: 498
Registered: ‎02-08-2013
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Re: Disliking revolving category cards

Yeah no doubt. But I rather have 5% gas year round but capped heavily (by 1/4 of course). Same math. I guess the 5% rotating cats is a great marketing tool.

     
Super Contributor
Posts: 9,603
Registered: ‎04-22-2013
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Re: Disliking revolving category cards

Yes, I have posted here before my dislike of revolvers, and in fact I don't have any.   Major reason is when I app for a card I want to choose one that gives the biggest rewards for my spending pattern.   With revolvers, I can't do this as I don't know which categories will be chosen.   And with Freedom/Discover, the cap on 5% makes them even less attractive for me, as when they DO have a good category, my rewards are limited.

Valued Contributor
Posts: 2,101
Registered: ‎04-04-2013
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Re: Disliking revolving category cards

[ Edited ]

I have a Discover, and plan to get a Chase Freedom eventually, but they aren't my primary cards by any means. I could certainly live without them. Here is my current primary usage breakdown, as well as my plans for the end of the year. BTW, these are all cashback cards:

 

My spending categories        Now                        Future plans

 

Fast Food                5%   US Bank Cash+         5%   US Bank Cash+

Drugstore                2%   US Bank Cash+         2%   US Bank Cash+

Amazon.com               5%   US Bank Cash+         5%   SallieMae World Mastercard

Storage Facility Rent    2%   priceline.com         2%   priceline.com

Grocery Stores           3%   Amex BCE              5%   SallieMae World Mastercard
Cell/Internet/Cable TV   2%   priceline.com         5%   US Bank Cash+

 

Of course, the Priceline.com 2% card isn't available anymore, but you can substitute the 2% Fidelity card, or even a 1.5% Quicksilver card.

 

Now, you should be able to do the same. Just figure out what categories you spend the most money in each month (Gas is missing from my categories, as I don't buy any gas. Thats probably why I spend so much at amazon.com). Then start targeting the cards that fit those categories, and do whatever you need to do to get them. Sure, I have a Discover, and its still useful. I like the online shopping mall discounts. If I can't get the SallieMae card, I'll get a 3% Chase amazon.com card, and adjust the plan accordingly.

 

BTW, I only need to carry 2 credit cards with me, as all my in-person spending goes on one card, unless its groceries where it goes on my grocery card. All other categories are setup for automatic billing, or in the case of amazon.com is setup as the default billing card. So following my card usage plan will be easy peasy.

 

Good luck.


Senior Contributor
Posts: 4,616
Registered: ‎02-23-2011
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Re: Disliking revolving category cards

From my perspective, I just SD them until a category I like pops up.  For example, last year when Discover had 5% for online purchases, I just used amznpayments for the allocation.  Easy 5%.  Aside from that, I'd agree with you there's very limited utility, especially since the caps are so abysmally limiting rendering these as nothing more than "novelty" cards.

 

Even for gas, unless it's 5% from Freedom, I'd prefer the Inks 2X UR over the 5% cash/credit options.  For a pure gas card, you guys really should look into the Fort Knox one.

Valued Contributor
Posts: 1,524
Registered: ‎08-17-2008
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Re: Disliking revolving category cards

Yeah im simple too I guess. I stick to MR points to transfer to Hawaiian miles 1:1. Can't do the whole spreadsheet thing

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Super Contributor
Posts: 9,603
Registered: ‎04-22-2013
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Re: Disliking revolving category cards


Open123 wrote:

From my perspective, I just SD them until a category I like pops up.  For example, last year when Discover had 5% for online purchases, I just used amznpayments for the allocation.  Easy 5%.  Aside from that, I'd agree with you there's very limited utility, especially since the caps are so abysmally limiting rendering these as nothing more than "novelty" cards.

 

Even for gas, unless it's 5% from Freedom, I'd prefer the Inks 2X UR over the 5% cash/credit options.  For a pure gas card, you guys really should look into the Fort Knox one.


Why Fort Knox rather than Penfed? 

Valued Contributor
Posts: 2,101
Registered: ‎04-04-2013
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Re: Disliking revolving category cards


longtimelurker wrote:

Open123 wrote:

From my perspective, I just SD them until a category I like pops up.  For example, last year when Discover had 5% for online purchases, I just used amznpayments for the allocation.  Easy 5%.  Aside from that, I'd agree with you there's very limited utility, especially since the caps are so abysmally limiting rendering these as nothing more than "novelty" cards.

 

Even for gas, unless it's 5% from Freedom, I'd prefer the Inks 2X UR over the 5% cash/credit options.  For a pure gas card, you guys really should look into the Fort Knox one.


Why Fort Knox rather than Penfed? 


Probably because the Penfed card only gives 0.25% cash back on purchases other than gas. The Fort Knox one gives 1% on everything else, plus automatic Auto Rental and Travel insurance (dunno the exact details on the insurance).


Senior Contributor
Posts: 4,616
Registered: ‎02-23-2011
0

Re: Disliking revolving category cards


Themanwhocan wrote:

longtimelurker wrote:

Open123 wrote:

From my perspective, I just SD them until a category I like pops up.  For example, last year when Discover had 5% for online purchases, I just used amznpayments for the allocation.  Easy 5%.  Aside from that, I'd agree with you there's very limited utility, especially since the caps are so abysmally limiting rendering these as nothing more than "novelty" cards.

 

Even for gas, unless it's 5% from Freedom, I'd prefer the Inks 2X UR over the 5% cash/credit options.  For a pure gas card, you guys really should look into the Fort Knox one.


Why Fort Knox rather than Penfed? 


Probably because the Penfed card only gives 0.25% cash back on purchases other than gas. The Fort Knox one gives 1% on everything else, plus automatic Auto Rental and Travel insurance (dunno the exact details on the insurance).


And, mainly since both are CUs and require an "extra" effort to join, it seems like there's more of a chance for Penfed to reduce the 5% on gas than Fort Knox.

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