Maximizing rewards

[takeshi74]

---

@Anonymous wrote:

Gas is generally the most easy category to remember but I always am second guessing when I visit a restaurant, departmental,drug, grocery, etc. store.

---

You could probably simplify groceries by looking at that chart floating around versus relying on rotators and the BCE.

---

@Anonymous wrote:

I was wondering how everyone has devised a plan to use which credit card when especially rotating categories.

---

I try to avoid rotators for my major spend categories to ensure that I'm getting higher rewards rates where I spend the most.  It's second nature for me to pull the appropriate card for those categories since it's always the same.  I do have a couple of rotators but it's really no big deal for me to keep their current quarters in mind.

---

@Anonymous wrote:

Also, how do you keep track of monthly cap where applicable.

---

No monthly caps here -- just quarterly and annually.  I track in my head and I rely on reports from the creditor and Mint.

---

@Anonymous wrote:

Probably using this method might not be univerally applicable...

---

No method is universally applicable.  Each has to determine what works for the individual.  Some don't even really worry about it and just carry around just a couple 2% and/or 1.5% cards for all spend to keep it simple.

---

@Anonymous wrote:

Sign up bonuses might be a lucrative option for those probably low on CC usages or for the daring kind as nmac warns.

---

There's another approach.  There are a lot of churners on FlyerTalk.

[Themanwhocan]

---

@Fico2Go wrote:

---

@Anonymous wrote:

---

Ghoshida wrote

Try the Wallaby app. Instead of actually putting CC numbers, tell it what kind of cards you have (that's what I do) if you're not comfortable with 3Party sites.

---

Thanks but isn't this app only for online purchases ?

From their website:

Know the Best Card to Use Before You Checkout

The Wallaby Browser Extension gives you free access to expert credit card advice in your browser. Just shop online like normal. When you are ready to checkout, click the Wallaby icon and we'll show you which of your credit cards will earn you the most rewards or cash back. It's that easy.

Edit:

I was looking for strategies where I need to hand out a credit card.

Saw the Mobile App... I think that addresses what I was looking for. Will give it a try now.

---

If find that the absolute best way to maximize your rewards is to get approved for a 5-6% cashback product and then research ways to make purchases using that card. 

For example, learn how to buy furniture at gas stations on cards that pay 5% at gas stations.

Learn how to buy cars at grocery stores on cards that pay 5% at grocery stores.

Learn how to buy daily consumptions at drug stores on cards that pay 5% at drug stores.

Learn how to buy all your electronic items, iphones and samsung smart phones at grocery stores..

Learn how to buy your laptops and computers at gas stations.

That's how I maximize my cards. 

I don't mess with measely 2-3% programs.  Just creates too much hassle in finding which card to use at the checkout counter.

---

Thats similar to my system. Only I just get 5% cards for every place I shop. Preferrably in a nice Blue.

[Fico2Go]

TMWCan, I studied your system for several weeks and seriously considered adopting it.

Then found out the wallet thickness for all the cards didn't go well for me.

[longtimelurker]

---

@Fico2Go wrote:
TMWCan, I studied your system for several weeks and seriously considered adopting it.

Then found out the wallet thickness for all the cards didn't go well for me.

---

Apart from wallet bulk, TWMC's system has two other potential drawbacks:  1) caps, although he partially solves that through getting multiples of a card and 2) you may have to restrict where you shop, e.g. I'm not aware of a 5% card for in-store purchases at fine-art dealers etc.

[Themanwhocan]

---

@longtimelurker wrote:

---

@Fico2Go wrote:
TMWCan, I studied your system for several weeks and seriously considered adopting it.

Then found out the wallet thickness for all the cards didn't go well for me.

---

Apart from wallet bulk, TWMC's system has two other potential drawbacks:  1) caps, although he partially solves that through getting multiples of a card and 2) you may have to restrict where you shop, e.g. I'm not aware of a 5% card for in-store purchases at fine-art dealers etc.

---

Thats easy. Use an American Express.

Heres a link for a guy who bought a tea cup 2 months ago, and got 421,860,000 AmEx points for the purchase.

http://www.bloomberg.com/news/2014-07-18/chinese-gets-422-million-amex-points-with-36-million-cup.ht...

[longtimelurker]

---

@Themanwhocan wrote:

---

@longtimelurker wrote:

---

@Fico2Go wrote:
TMWCan, I studied your system for several weeks and seriously considered adopting it.

Then found out the wallet thickness for all the cards didn't go well for me.

---

Apart from wallet bulk, TWMC's system has two other potential drawbacks:  1) caps, although he partially solves that through getting multiples of a card and 2) you may have to restrict where you shop, e.g. I'm not aware of a 5% card for in-store purchases at fine-art dealers etc.

---

Thats easy. Use an American Express.

Heres a link for a guy who bought a tea cup 2 months ago, and got 421,860,000 AmEx points for the purchase.

http://www.bloomberg.com/news/2014-07-18/chinese-gets-422-million-amex-points-with-36-million-cup.ht...

---

That's not 5%!   The example they give,  spend $36M and get rewards with $180K suggests a value of 0.5%

[Themanwhocan]

---

@Fico2Go wrote:
TMWCan, I studied your system for several weeks and seriously considered adopting it.

Then found out the wallet thickness for all the cards didn't go well for me.

---

Oh? I only carry 2 or 3 credit cards with me. It doesn't seem so bad.

Lets see. Right now I carry one US Bank Cash+, but mainly that was so I could withdraw cash from a US Bank ($100 in quarters, about 6 weeks worth for me**). One Sallie Mae (the 7% on groceries is still good through tomorrow), and the BOA Better Balance Rewards. i think I have the BBR to use at CVS, but since the Sallie is getting 3% at drug Stores through tomorrow, i really don't have a reason to carry that card.

Usually I carry 1 Sallie Mae, the Priceline for 2% everywhere, and then a third card If there is a special reason or no reason... Some of these cards are for utilities, some for online or amazon purchases, Some for no reason (BCE) and some for sign up bonuses (CSP). But those latter reasons don't require me carrying a card.

Oh, if i ever get a Target card I'll carry that, since i do walk past the target express twice a day. But that just means i'll carry 3-4 cards.

** the quarters are for doing laundry. Evidently I'm a very clean person, or a very dirty one. Now, if anyone can figure out what movie I paraphrased that line from, I'll be quite astonished.

[Fico2Go]

Another big issue for me is limited time rewards such as..

5% for six months;

5% cashback per quarter up to $1500 purchase;

3% cashback every 1st Friday after the Sunday following the full moon;

3% for eating out once a month on Tuesday;

etc..

etc..

I don't have evidence to prove otherwise, but such a schedule can accelerate the rate of insanity. 

[longtimelurker]

---

@Themanwhocan wrote:

---

 Evidently I'm a very clean person, or a very dirty one. Now, if anyone can figure out what movie I paraphrased that line from, I'll be quite astonished.

---

I know!!!  Texas ChainSaw Massacre (1974) version.  The original quote is " I just can't take no pleasure in killing. There's just some things you gotta do. Don't mean you have to like it." and you, um, paraphrased it.