Playing favorites with so many cards offering the same?

[Anonymous]

So I see more and more credit card commercials these days, and it seems like ads/offers are EVERYWHERE I look online.

New cards have points bonus offers from 20k-75k on the first $1000-$3000 spend in the first 3 mos, or whatever. THEN your points for purchases:

3-5 points for card/brand specific purchases

3 points on gas

2-3 points on groceries

3 points on travel (gas/air/hotel tolls - Citi Premier is 3% on tolls, btw)

So with those who have cards who have met the "welcome offer" how do you decide what card you use when most of the cards pay points for the same purchases? Are you brand loyal, or swap each month?

Sometimes I favor a card for a while, for no other reason than its look really. I can use any card for gas and get the 3%, sometimes its just trying to get use of all my cards.

[Anonymous]

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@Anonymous wrote:

So I see more and more credit card commercials these days, and it seems like ads/offers are EVERYWHERE I look online.

New cards have points bonus offers from 20k-75k on the first $1000-$3000 spend in the first 3 mos, or whatever. THEN your points for purchases:

3-5 points for card/brand specific purchases

3 points on gas

2-3 points on groceries

3 points on travel (gas/air/hotel tolls - Citi Premier is 3% on tolls, btw)

So with those who have cards who have met the "welcome offer" how do you decide what card you use when most of the cards pay points for the same purchases? Are you brand loyal, or swap each month?

Sometimes I favor a card for a while, for no other reason than its look really. I can use any card for gas and get the 3%, sometimes its just trying to get use of all my cards.

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I use them when their use benefits me most. I use my Ritz-Carlton for Marriott stays, SPG is an all purpose card for me as I can xfer to AA at 125% for a value to me of 3cpp at minimum. Prestige on non AA airfare, Hotels other than Marriott or Sheraton family, dining when other cards aren't "in season" There's a lot more, but that is just a brief example.

[Anonymous]

1) AmEx Plat for tech purchases
2) Sign up bonuses or special offers (amex offers, UR mall, discover deals)
3) Freedom and Discover for their categories
4) Sallie Mae for its categories
5) BCP for other groceries and gas
6) CSP for its categories
7) JCB if it's accepted
8) FNBO, DoubleCash for all else

More or less my logic, though 4&5 and 7&8 will probably get consolidated longer term.

As for new card applications:
1) Will I use the bonus?
2) Will I use it at least a few times per month outside of the sign up bonus?
3) Is it a special/limited time offer of some sort?

At least 2 of these must be yes.

[Anonymous]

I know, if there is an advantage for specific offers/points  (why wouldnt I use my Amazon Visa on Amazon, right?) but when its equal (if you have 3 cards that give you 3% for gas, or 10 cards that give you 2% on groceries), do you chose, or just random?

[yfan]

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@Anonymous wrote:

I know, if there is an advantage for specific offers/points  (why wouldnt I use my Amazon Visa on Amazon, right?) but when its equal (if you have 3 cards that give you 3% for gas, or 10 cards that give you 2% on groceries), do you chose, or just random?

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I dunno, if you've got a Discover card, you may not want to use the Amazon Visa on Amazon at least till the end of the year.

Now I don't have 3 cards that offer 3% on gas, I have 2. The Costco Amex TE and the Bank of America Cash Rewards. Because I mostly get gas from Costco though, that's the card that usually comes out. We'll see how that changes next year.

[happypill]

Yeah, a lot of cards offer the same type of rewards, so I definitely wouldn't keep around multiple similar cards if they require an AF.  I can definitely see keeping one card with an AF if it offers rewards that are valuable to you, but paying multiple AF for the same benefits is silly.

There cards that are really standouts are the ones that offer the same benefits without AF.  3 points on travel with the Citi Premier is nice, but 3.3% with no AF on the SSFCU Power Travel Rewards is way better.  The Sallie Mae is a real standout for this same reason - 5% on the categories it covers with no AF (it does have limits of course).  Amazon store card is great as well.