topic Re: LONG TERM CREDIT CARDS? in Credit Cards

LONG TERM CREDIT CARDS?

Anonymous — Thu, 22 Jun 2017 04:55:00 GMT

Hi guys,

i was just wondering what Reddit cards would you keep for the long term (forever) and be happy with them one in each category so for example hotels I was thinking for the choice privileges Up until I learned that the points expire if you don't use them or after 2 years.... so here are the categories

1) travel

2) hotels

3) cashback

Im only choosing 3 because that's what intrigues me.. for me personally

1) CSP (if I had it)

2) choice privileges (or something better??????????)

3) Amazon prime visa sig. (my favorite card right now)

and I know that you could technically use the CSP for hotels, flights and prettty much everything travel related but that's not the point.

Re: LONG TERM CREDIT CARDS?

Anonymous — Thu, 22 Jun 2017 06:06:36 GMT

The chase trifecta is my ultimate goal for travel which would really cover most of my spend. However, I plan to keep an ihg or choice hotel card just because these are the brands i normally stay in, and the card would only be used if i didnt have UR points or was buying something while at the hotel. For cashback, im enjoying the simplisity of the quicksilver right now, but a citi double cash is my dream card in that category. Discover's a nice card too with the rotating categories.

In short, if i could only have three:

1) CSP since its only one card allowed but the freedom/freedom unlimited cards really compliment the CSP nicely.
2) IHG
3) Citi double cash

Re: LONG TERM CREDIT CARDS?

jacetx — Thu, 22 Jun 2017 12:35:33 GMT

1) Costco Visa (3% travel)

2) Amex Hilton Surpass (Gold status, 12x points per $)

3) Penfed Power Cash Rewards (2% cashback posts as soon as the transaction clear and can redeem in $5 increments),

Chase Amazon Prime Visa (5% on Amazon)

Discover (5% rotating)

Re: LONG TERM CREDIT CARDS?

galahad15 — Sun, 25 Jun 2017 13:35:04 GMT

(1) FNBO Travelite Amex (3% on travel and 1.5% on everything else, $100 annual travel incidentals, no AF)

BoA Travel Rewards VS

(2) N/A (I don't currently have any hotel cards)

(3) Cap1 NHM card (Venture-equivalent card with 2% cashback on all purchases, no miminum redemption)

Citi DC

FNBO BuckBack VS (2% cashback on all purchases)

US Bank Cash+ (for 5% cashback on ground travel purchases and cell phone bills)

BoA Cash Rewards WMC

BEFCU VISA (cashback rewards program + low APR)

PACU MC (~1.4% cashback on all purchases + low APR)

FNBO Amex (1.5% cashback on all purchases + low APR)

Blispay

ETA: my 2 BBRs

Re: LONG TERM CREDIT CARDS?

Anonymous — Thu, 22 Jun 2017 14:21:34 GMT

IMO, it makes little sense to do long-term planning for credit cards.

1) Cards get nerfed, so today's great card might become "meh" or worse

2) New cards come along, which might be better than your current best-in-class

3) Your needs change over time, so what might be perfect now is no longer so useful (e.g. switching from frequent dining out to cooking at home, or vice versa, and change in travel frequency)

I think people should reevaluate the portfolio regularly, maybe yearly or so, or for addicts, more frequently.

And, as a combination of 1) and 2), if a "great" card comes out, it makes sense to get it early, so you get the most out of it before nerfing. For example, Amex BCP and US Bank Cash + were AMAZING when they came out, but within a year or two became much less valuable. So, my motto would be "If something seems too good to be true, after checking for catches, get it NOW!"

(IME, it's pretty rare for a card to get better. Chase Amazon Visa is one recent example, and (maybe) changes to some Amex charge cards, although in that case, some of the AF increased. )

Re: LONG TERM CREDIT CARDS?

Anonymous — Thu, 22 Jun 2017 14:24:55 GMT

1} CSP / Freedom / FU

2} Hilton Honors

3) Amex BCE / Discover it

Re: LONG TERM CREDIT CARDS?

happypill — Thu, 22 Jun 2017 14:47:42 GMT

@Anonymous wrote:
IMO, it makes little sense to do long-term planning for credit cards.

1) Cards get nerfed, so today's great card might become "meh" or worse
2) New cards come along, which might be better than your current best-in-class
3) Your needs change over time, so what might be perfect now is no longer so useful (e.g. switching from frequent dining out to cooking at home, or vice versa, and change in travel frequency)

I think people should reevaluate the portfolio regularly, maybe yearly or so, or for addicts, more frequently.

And, as a combination of 1) and 2), if a "great" card comes out, it makes sense to get it early, so you get the most out of it before nerfing. For example, Amex BCP and US Bank Cash + were AMAZING when they came out, but within a year or two became much less valuable. So, my motto would be "If something seems too good to be true, after checking for catches, get it NOW!"

(IME, it's pretty rare for a card to get better. Chase Amazon Visa is one recent example, and (maybe) changes to some Amex charge cards, although in that case, some of the AF increased. )

Spot on as usual.

I do have some suggestions though.

1. SSFCU Power Travel if you can get it. 3.3% on travel, dining and gas. It is geographically limited though, but it is awesome and hasn't changed in a long time.

2. BofA Travel Rewards. 2.625% on everything if you have the right relationship with BofA.

If you like cash back, that's it right there. If you want to chase points or sign-on bonuses, there are a lot of other cards to consider.

Re: LONG TERM CREDIT CARDS?

Blackswizz750 — Thu, 22 Jun 2017 15:11:30 GMT

I dont have any longterm cards at the moment. I really just use Discover IT, BCE, and my Amex Green for all the above right now. I get cash back from Disco and statement cash on the BCE, and the green I get points. Sometimes I use Capt1 QS. I just want to have cards to help me with daily spend and travel when I have to go somewhere. The environment for really good cards are shrinking as they get nerfed and benefits are reduced. I have about a dozen other cards but these three are the most used.

Re: LONG TERM CREDIT CARDS?

Anonymous — Thu, 22 Jun 2017 15:24:03 GMT

I’d like a Freedom unlimited to go with my CSP to keep long term. If my discover card ever unsecures than that takes care of rotating categories as well. I’m just not using the BCE much I’ve been putting most of my spend on the CSP.

I’d be happy with those three forever, but I’m not huge on apping so I’m sure there are better choices haha.

Re: LONG TERM CREDIT CARDS?

Anonymous — Thu, 22 Jun 2017 15:31:20 GMT

Interesting answers, and I agree that products change over time and that you need to upgrade your portfolio or every now and then but I'm guessing cards like the IT and Freedom will not change all that much...

Also I saw the Hilton honors mentions twice I thought it was a meh card since the points aren't really worth that much??? Or am I wrong?

Re: LONG TERM CREDIT CARDS?

Anonymous — Thu, 22 Jun 2017 23:39:39 GMT

@Anonymous wrote:
Interesting answers, and I agree that products change over time and that you need to upgrade your portfolio or every now and then but I'm guessing cards like the IT and Freedom will not change all that much...

Also I saw the Hilton honors mentions twice I thought it was a meh card since the points aren't really worth that much??? Or am I wrong?

I guess it depends on what is "that much" but the Freedom has been nerfed (causing distress to some at the time). Freedom used to offer, for those with a Chase checking account an additional 10points per swipe AND an additional 10% per transaction, so if you bought a lot of very cheap things, it would add up to a decent amount. They then changed this to an annual 10% bonus, but then that (and the CSP 7% for everyone) went away.

So any good card is a potential target for nerfing if the issuer deems the situation to demand it.

Re: LONG TERM CREDIT CARDS?

Anonymous — Fri, 23 Jun 2017 01:42:02 GMT

I think the Hilton Surpass card is very valuable if you stay at lots of Hiltons like me. When staying at hiltons and getting the full 12 points per dollar spent I value this at 6 cents per dollar based on I value the average stay in my neck of the woods is 150 dollars per night and the average points per reward stay per night is 30K. I think six cents on the dollar makes this a great card.

Lots of people on here don't think Hilton points are valuable but Hilton gives you so many points per dollar they add up quickly. It took me lots of research and actually getting the card to figure this out. I use my Hilton card instead of my CSR for stays at Hilton branded hotels because of all of the above.

The CSR gets the rest of my travel and resteraunt spend and the BCP gets everything else.

Re: LONG TERM CREDIT CARDS?

ChargedUp — Fri, 23 Jun 2017 04:17:53 GMT

Interesting thoughts to me, as I'm traveling for work right now and the cards I'm using the most are PRG, BoA AAA Rewards Visa and Discover (Which is still under a year old, so in 2% mode).

My wife was traveling for work and used the Chase twins, along with Discover almost exclusively, so I'm spreading the love around a bit. Just my AirBnB is running about $1500/month (SF Peninsula) so I'm racking up rewards pretty fast on anything I use. Air BnB is counting as travel on CSP so they (and PRG) get the lions share of those charges. AAA Rewards gets the gas, grocery, pharmacy and the nearby Costco. Discover picks up the rest.

(edit due to misinfo.)

Re: LONG TERM CREDIT CARDS?

Anonymous — Fri, 23 Jun 2017 02:37:32 GMT

I would want the CSR, Freedom and Unlimited! I have it now as of this month and it's my dream arsenal!

Re: LONG TERM CREDIT CARDS?

GeorgiaBulldog — Fri, 23 Jun 2017 04:00:34 GMT

@ChargedUp wrote:
Air BnB is counting as travel on PRG and CSP so they get the lions share of those charges.

This confuses me--PRG doesn't have a bonus for travel, I thought? Just 3x airfare, 2x gas, groceries, restaurants, 1x everything else.

Re: LONG TERM CREDIT CARDS?

ChargedUp — Fri, 23 Jun 2017 04:15:59 GMT

@GeorgiaBulldog wrote:
@ChargedUp wrote:
Air BnB is counting as travel on PRG and CSP so they get the lions share of those charges.
This confuses me--PRG doesn't have a bonus for travel, I thought? Just 3x airfare, 2x gas, groceries, restaurants, 1x everything else.

You are correct! and I thought I was getting extra MR points

Re: LONG TERM CREDIT CARDS?

driftless — Fri, 23 Jun 2017 13:56:42 GMT

I value both UR and MR points so I use CSR and ~~PRG~~ soon to be Platinum the most. I lump travel and hotels together. I don't value cashback cards and I don't have any. I have my long term cards until something new is introduced.

Re: LONG TERM CREDIT CARDS?

pipeguy — Fri, 23 Jun 2017 15:41:08 GMT

First let me say I agree 100% with what @Longtimelurker posted, my loyality to a card has more to do with "what have you done with me lately" than anything else. Of course it helps that I have a very thick file which allows me to open/close cards at will. I do look for cash back sign up bonuses and 12-15-18 month 0% intro promos. If I had to pick cards that I'd keep no matter what they would be:

#1: Old Amex Orinianl Optima card dated 1978 with a low CL - I'm NOT a fan of AmEx but the member since 1978 is kinda cool (stupid reason I know and I hardly use the card).

#2: DCU no rewards Visa ($15k CL) due to the flexibility of using the no fee "payday cash advance" feature for short term cash flow transfers. My CFCU Visa has this feature too, but with a higher standard APR and my NFCU card too but with small fees and an extra 2% APR.

Re: LONG TERM CREDIT CARDS?

Anonymous — Fri, 23 Jun 2017 15:58:43 GMT

@Anonymous wrote:
Hi guys,

i was just wondering what Reddit cards would you keep for the long term (forever) and be happy with them one in each category so for example hotels I was thinking for the choice privileges Up until I learned that the points expire if you don't use them or after 2 years.... so here are the categories

1) travel
2) hotels
3) cashback

Im only choosing 3 because that's what intrigues me.. for me personally
1) CSP (if I had it)
2) choice privileges (or something better??????????)
3) Amazon prime visa sig. (my favorite card right now)

and I know that you could technically use the CSP for hotels, flights and prettty much everything travel related but that's not the point.

I pretty much consider my current portfolio as all long term cards as they each have a specific purpose for me. However, my favorite cards for each category are:

1) Chase Sapphire Reserve and AMEX Platinum

2) Chase Sapphire Reserve (I am not loyal to one brand so do not have a branded card. That and hotel points aren't valuable enough for me. If I did, I soppose I would get SPG or Hyatt.)

3) Chase Freedom Unlimited and Chase Freedom

Re: LONG TERM CREDIT CARDS?

Anonymous — Sat, 24 Jun 2017 02:59:39 GMT

Hmmm three cards long-term..

1.) Bank of America BBR. Good if I ever wanted or needed to carry a balance for any reason (high limits, lowest APR tier, constant special offers for BT's).
2.) American Express Platinum for Schwab. Premium travel benefits that I actually use, and the flexibility to either save my points for travel redemptions, or "invest with rewards" getting $125 for every 10,000MR redeemed.
3.) Amex EveryDay Preferred paired with #2 to accelerate the number of points earned since they pool together.