topic Credit Card Rewards Optimization in Credit Cards

Credit Card Rewards Optimization

Anonymous — Sun, 24 Jan 2016 08:41:29 GMT

Good morning everyone.

'm trying to see if I am missing anything that can potentially give me more reward, also I am planning to close some cards that has been SD.

Thanks in advanced!

"Portfolio"

Amex TE: costco ... @ 1%

Chase Freedom - random stuff @ 5%

Chase AARP - restaurants @ 3%

Bank of America Cash Rewards - gas stations @ 5.25% ... I drive a Civic with a fill-up-with-25-dollar tank

Bank of America Travel Rewards - everything else @ 2.625%/3% travel center before airline limit

"Planned Closures"

Chase Amazon.com - AARP is better

Arrival - downgraded from Arrival+, no other Barclay's card that is currently open.

Double Cash - 2%

TY Premier - too much effort for the extra 0.375% that's another card in my wallet .. plus the annual fee

I put most spending on Travel (in particular, majority are Southwest, Cathay Pacific, IHG hotel stays and various car rentals), a good estimate would be around 70-80%. Thanks again!

Re: Credit Card Rewards Optimization

Anonymous — Sun, 24 Jan 2016 14:52:12 GMT

If your travel is around 70%-80%, I would think your portfolio would have cards more geared towards towards it?. There are better cards than the BOA travel rewards and for your hotel stay.

If you shop at Amazon alot, the Amazon card issued by Synchrony benefits outweigh all others. You seem to have a valid reason for the closures but instead of going for the Chase AARP, look at the Amazon card.

Re: Credit Card Rewards Optimization

Anonymous — Sun, 24 Jan 2016 15:49:26 GMT

What investments are you holding at BofA/ML? There are generally better places to invest (lower costs and higher rates). Look at the big picture and optimize that before you worry too much about chasing small cash rewards.