topic Re: Maximize my Lineup in Credit Cards

Maximize my Lineup

Lymin — Tue, 07 Jun 2016 19:20:02 GMT

I just expanded my portfolio and want to take complete adavantage of all the potential rewards. I doubt I will carry all the cards regularly, so I am more so trying to figure out what 2-3 cards I will keep in my wallet. Could you guys help me out, how would you best maximize the rewards for my lineup? Any suggestion is welcome.

My Lineup:

Citi AAdvantage Platinum

CP1 QS1

Discover IT

Target

Chase Slate

Amex Everyday

Chase Sapphire

Thanks in advance.

Re: Maximize my Lineup

Anonymous — Tue, 07 Jun 2016 20:03:14 GMT

Hmm all of those are 1% for general spend except the QS1 at 1.5% and Amex Everyday if you use it 20 times per month for a 20% increase, or 1.2%

Use Discover it for the categories (must be activated)

Try to change QS1 to QS to avoid annual fee, then use that for all general spend.

Sapphire for restaurants for 2%

Use Sapphire or AAdvantage for travel purchases depending on which you prefer.

Use Amex Everyday for 2% on groceries, and 20% bonus if you use card 20 times per month, for 2.4% on groceries.

Re: Maximize my Lineup

Lymin — Tue, 07 Jun 2016 22:12:54 GMT

Well laid out. Thank you.

How would I best go about changing my QS1 over? I have been reading around and couldn't find a clear line if advice.

Re: Maximize my Lineup

RonM21 — Tue, 07 Jun 2016 22:14:15 GMT

Is there something in particular you want to change it to?

Re: Maximize my Lineup

Lymin — Tue, 07 Jun 2016 22:43:33 GMT

@Chess mentioned that I should attempt to but back on my AFs and the QS does not have one. So, the question is how to go about upgrading my QS1 to a QS.

Re: Maximize my Lineup

redpat — Wed, 08 Jun 2016 01:42:04 GMT

Use CSP for everything if you travel. AA has been devalued and if you only pick one reward program there is no dilution in reward spend.

Stick to a plan and don't have rewards all over the place.

Re: Maximize my Lineup

Anonymous — Wed, 08 Jun 2016 04:21:37 GMT

@redpat wrote:
Use CSP for everything if you travel. AA has been devalued and if you only pick one reward program there is no dilution in reward spend.

Stick to a plan and don't have rewards all over the place.

Well, use Target at Target probably. Is it the CS or CSP?

Re: Maximize my Lineup

Lymin — Wed, 08 Jun 2016 04:53:18 GMT

It is CSP.

Re: Maximize my Lineup

Anonymous — Fri, 10 Jun 2016 22:53:22 GMT

I would PC the Slate to a Freedom to maximize the CSP (besides as a balance transfer card, Slate kinda sucks, so if are in your regular APR there is no real use in having it around) and as others said, definitely try to PC the QS1 to a regular QS. The Freedom is very similar to the It, but in conjunction with the CSP being able to transfer over to UR is great and much more flexible than Discover's program.

Re: Maximize my Lineup

Lymin — Tue, 14 Jun 2016 23:50:43 GMT

Thanks for the recommendations I will look into that. I am definitely willing to try for the QS, though, I am not sure how to best go about that.

I don't know if I should push it with Chase since I had to recon just to get the CSP. I might wait a bit before trying for something else.

Re: Maximize my Lineup

Anonymous — Wed, 15 Jun 2016 00:14:57 GMT

@Lymin wrote:
Well laid out. Thank you.

How would I best go about changing my QS1 over? I have been reading around and couldn't find a clear line if advice.

Call or chat with Cap1 and ask if your account is eligible for an upgrade to the QS without an annual fee.

Re: Maximize my Lineup

Anonymous — Wed, 15 Jun 2016 00:48:13 GMT

@Lymin wrote:
Thanks for the recommendations I will look into that. I am definitely willing to try for the QS, though, I am not sure how to best go about that.

I don't know if I should push it with Chase since I had to recon just to get the CSP. I might wait a bit before trying for something else.

It may be time to garden. See my previous post about upgrading from QS1 to QS. Good luck!

Re: Maximize my Lineup

Lymin — Wed, 15 Jun 2016 18:14:51 GMT

Thanks BBP, I just gave them a ring and was given a very polite no. But I agree, gardening is all I am up for right now. It is the wisest thing to do.

Re: Maximize my Lineup

Anonymous — Wed, 15 Jun 2016 18:25:19 GMT

i would look at themanwhocan's cash back charts and just compare for that. And then regarding the travel cards.... you want to make sure your annual spending is enough for the annual fees. And also too, if you do fly quite a bit, it will make less and less since to use the cash back cards so much aside from their category caps.

Is american your only airline? Do you utilize chase UR transfer partners?

Re: Maximize my Lineup

Anonymous — Wed, 15 Jun 2016 18:38:07 GMT

The only thing I dislike about credit is that it may give the consumer the illusion of having more spending power than they might actually have. They may purchase something at a higher price than if they only had cash. The purpose of these cash back rewards is only to encourage consumers to purchase more than they originally would have if they only had cash--the credit card company do offer very powerful products for their merchant, "How can I get my customers to purchase more than they usually would?"

Re: Maximize my Lineup

Anonymous — Wed, 15 Jun 2016 18:39:39 GMT

@Anonymous wrote:
The only thing I dislike about credit is that it may give the consumer the illusion of having more spending power than they might actually have. They may purchase something at a higher price than if they only had cash. The purpose of these cash back rewards is only to encourage consumers to purchase more than they originally would have if they only had access to cash--the credit card company do offer very powerful products for their merchant, "How can I get my customers to purchase more than they usually would?"

Yes, there have been studies (albeit also criticized) showing people spend more with ccs than with cash, and I would think reward cards only increase that. "Since I get 2% back, may as well buy 2" or "If I spend $1000 I'll get 30K points" etc

Re: Maximize my Lineup

Anonymous — Wed, 15 Jun 2016 22:34:04 GMT

@Anonymous wrote:
The only thing I dislike about credit is that it may give the consumer the illusion of having more spending power than they might actually have. They may purchase something at a higher price than if they only had cash. The purpose of these cash back rewards is only to encourage consumers to purchase more than they originally would have if they only had cash--the credit card company do offer very powerful products for their merchant, "How can I get my customers to purchase more than they usually would?"

You sound like Dave Ramsey

Re: Maximize my Lineup

Lymin — Thu, 16 Jun 2016 01:49:56 GMT

@Anonymous wrote:
i would look at themanwhocan's cash back charts and just compare for that. And then regarding the travel cards.... you want to make sure your annual spending is enough for the annual fees. And also too, if you do fly quite a bit, it will make less and less since to use the cash back cards so much aside from their category caps.

Is american your only airline? Do you utilize chase UR transfer partners?

As far as airline cards go, yes American is all I have. I am moving to a city that is an AA hub, which is why I got it. I currently use the Suntrust Skymiles debit as I live at a Delta hub. For what I was able to access at the time, it has served me well. Though, I am excited for the bonus miles and other perks of having an airline card of an airline I know I will frequent. They will be great to have even if I don't use them all, as I haven't really needed them before.

As far as UR points, CSP is my first UR card so I have not used it enough to know how I will utilize it. But I anticipate it will complete the airline miles gap so I am covered at the big 3, Delta, AA, and United. After much thought I think the cards I will use the most daily are CSP, AMEX ED, and either Discover IT or QS1.

Thanks for the chart.

Re: Maximize my Lineup

kdm31091 — Thu, 16 Jun 2016 01:54:26 GMT

@Anonymous wrote:
The only thing I dislike about credit is that it may give the consumer the illusion of having more spending power than they might actually have. They may purchase something at a higher price than if they only had cash. The purpose of these cash back rewards is only to encourage consumers to purchase more than they originally would have if they only had cash--the credit card company do offer very powerful products for their merchant, "How can I get my customers to purchase more than they usually would?"

Totally agree, and I think this extends to the "special category" cards as well. We can just use Discover as an example since right now they're running 5% back on dining (10% if you have the double promo). This 5-10% off provides a convenient excuse to do something you probably want to do anyway, i.e. eat out. So you end up spending more than you otherwise would, which means you are still falling for their scheme in the end. Same with the Apple Pay promo they did. Many admittted overspending to get the rewards, which is ultimately a losing proposition.

This also can apply to just generic category cards. Do you spend more if you have a special grocery store card? Even one extra impulse purchase can basically wipe out your rewards by being the same value.

None of this is to say I haven't fallen into these same patterns but I work hard to avoid it at this point. I will not let rewards or a bank in general dictate my spend.