USC CU Platinum Rewards vs Citi DC & BoA TR

[Anonymous]

Hi all -

So my oldest credit line and my largest CL ($1500) in my young 1 year credit history is my USC Credit Union Platinum Rewards card, which offers 2pt/$ for groceries and gas and 1pt/$ for everything else; for redemption, 6250pt is $50, meaning 1pt is actually less than 1cent. I also have a Citi Double Cash ($700) and a BoA Travel Rewards ($800).

I was thinking that the redemption rate on my USC Rewards is rather poor, and hence I would leave the USC card open to maintain my AAoA up but shift most of my spending over to the DC and TR, since credit utilization isn't per card, I always PIF, and I often pay early anyway. Does this sound like a good plan? The only time I'd feel compelled to use the USC card is if I'm making a large purchase my TR can't handle out of country (USC card also has zero FTF, and I foresee at least 1-2 trips abroad per year in the coming years).

Related, I was planning on adding an Amazon Prime Store Card to my portfolio soon, but does anyone have any other card recommendations?

[kdm31091]

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@Anonymous wrote:

Hi all -

So my oldest credit line and my largest CL ($1500) in my young 1 year credit history is my USC Credit Union Platinum Rewards card, which offers 2pt/$ for groceries and gas and 1pt/$ for everything else; for redemption, 6250pt is $50, meaning 1pt is actually less than 1cent. I also have a Citi Double Cash ($700) and a BoA Travel Rewards ($800).

I was thinking that the redemption rate on my USC Rewards is rather poor, and hence I would leave the USC card open to maintain my AAoA up but shift most of my spending over to the DC and TR, since credit utilization isn't per card, I always PIF, and I often pay early anyway. Does this sound like a good plan? The only time I'd feel compelled to use the USC card is if I'm making a large purchase my TR can't handle out of country (USC card also has zero FTF, and I foresee at least 1-2 trips abroad per year in the coming years).

Related, I was planning on adding an Amazon Prime Store Card to my portfolio soon, but does anyone have any other card recommendations?

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Nothing wrong with shifting your spend to what works for you. I'm sure you do realize though that except for travel purchase redemptions, the BOA Travel card fares no better with redemption values -- gift cards, cash etc get way less than 1cent/1 point. I'm assuming you know this though.

[Anonymous]

Oh yeah, of course, wasn't gonna redeem for anything besides travel from the TR.

Wanted to make sure, I haven't done the specific math, but wanted to know for USC card - it's generally accepted that redeeming points for stuff other than cash (electronics, etc) unless with a card known to be good for a particular category is a poor value, right?

[kdm31091]

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@Anonymous wrote:

Oh yeah, of course, wasn't gonna redeem for anything besides travel from the TR.

Wanted to make sure, I haven't done the specific math, but wanted to know for USC card - it's generally accepted that redeeming points for stuff other than cash (electronics, etc) unless with a card known to be good for a particular category is a poor value, right?

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Yes, usually redeeming for "stuff" is a bad value on almost any card. Merchandise is basically never recommended as a redemption option unless there is a steep point discount on it

[SunriseEarth]

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@Anonymous wrote:

Hi all -

So my oldest credit line and my largest CL ($1500) in my young 1 year credit history is my USC Credit Union Platinum Rewards card, which offers 2pt/$ for groceries and gas and 1pt/$ for everything else; for redemption, 6250pt is $50, meaning 1pt is actually less than 1cent. I also have a Citi Double Cash ($700) and a BoA Travel Rewards ($800).

I was thinking that the redemption rate on my USC Rewards is rather poor, and hence I would leave the USC card open to maintain my AAoA up but shift most of my spending over to the DC and TR, since credit utilization isn't per card, I always PIF, and I often pay early anyway. Does this sound like a good plan? The only time I'd feel compelled to use the USC card is if I'm making a large purchase my TR can't handle out of country (USC card also has zero FTF, and I foresee at least 1-2 trips abroad per year in the coming years).

Related, I was planning on adding an Amazon Prime Store Card to my portfolio soon, but does anyone have any other card recommendations?

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I'd say SD the CU card and use it for your foreign spend, since there's no FTF.   CU cards can also be handy if you ever need to BT, so there's definitely good reasons to keep it open.

Have you looked into Sallie Mae MC?   They have 5% cash back on groceries, gas, and bookstores.   Since Amazon is a bookstore, it counts.   However, if you need special financing for large Amazon purchases, their store card is a good option

[Anonymous]

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@kdm31091 wrote:

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@Anonymous wrote:

Oh yeah, of course, wasn't gonna redeem for anything besides travel from the TR.

Wanted to make sure, I haven't done the specific math, but wanted to know for USC card - it's generally accepted that redeeming points for stuff other than cash (electronics, etc) unless with a card known to be good for a particular category is a poor value, right?

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Yes, usually redeeming for "stuff" is a bad value on almost any card. Merchandise is basically never recommended as a redemption option unless there is a steep point discount on it

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Why is that? Unless im understanding your post wrong. If you just redemmed awards, let's say, on a CB card like the Citi DC as a statement credit, wouldnt that in essence be the same as "redeeming" for whatever it is..travel, check, gift card, etc

[Anonymous]

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@Anonymous wrote:

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@kdm31091 wrote:

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@Anonymous wrote:

Oh yeah, of course, wasn't gonna redeem for anything besides travel from the TR.

Wanted to make sure, I haven't done the specific math, but wanted to know for USC card - it's generally accepted that redeeming points for stuff other than cash (electronics, etc) unless with a card known to be good for a particular category is a poor value, right?

---

Yes, usually redeeming for "stuff" is a bad value on almost any card. Merchandise is basically never recommended as a redemption option unless there is a steep point discount on it

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Why is that? Unless im understanding your post wrong. If you just redemmed awards, let's say, on a CB card like the Citi DC as a statement credit, wouldnt that in essence be the same as "redeeming" for whatever it is..travel, check, gift card, etc

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Redemption rates on umbrellas purses etc. are often less than 1c per point (eg 5000 points for a $40 purse). In that case, a $50 statement credit is better, and if you want the purse, you can buy it for $40 and pocket the extra $10.

In general, transfer to travel partner > redeeming through travel portal > statement credit/check/direct deposit > merchandise. But some travel partners are awful value so it's always best to check ahead of time (ideally before you even app).

[bk510]

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@Anonymous wrote:

Hi all -

So my oldest credit line and my largest CL ($1500) in my young 1 year credit history is my USC Credit Union Platinum Rewards card, which offers 2pt/$ for groceries and gas and 1pt/$ for everything else; for redemption, 6250pt is $50, meaning 1pt is actually less than 1cent. I also have a Citi Double Cash ($700) and a BoA Travel Rewards ($800).

I was thinking that the redemption rate on my USC Rewards is rather poor, and hence I would leave the USC card open to maintain my AAoA up but shift most of my spending over to the DC and TR, since credit utilization isn't per card, I always PIF, and I often pay early anyway. Does this sound like a good plan? The only time I'd feel compelled to use the USC card is if I'm making a large purchase my TR can't handle out of country (USC card also has zero FTF, and I foresee at least 1-2 trips abroad per year in the coming years).

Related, I was planning on adding an Amazon Prime Store Card to my portfolio soon, but does anyone have any other card recommendations?

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hey, speaking of USC Platinum Reward card, How long did it take for you to receive your card from the day you apped?

I'm interested in BT......( I just received a pre-approved email up to 10,000 and promo until 3/2017 and apr up to 17% depending on credit)

And did you app online or at the branch?