topic Re: My Final Lineup?? Rebuild Results (2015 to Now) in Credit Cards

My Final Lineup?? Rebuild Results (2015 to Now)

credit_is_crack — Sun, 24 Jun 2018 15:17:49 GMT

I added (2) more cards in the last week and I think I'm good with my lineup Over the last several months, I've either closed out cards that just had no long-term value (either the use didn't justify annual fee, or cards I used heavily (for traveling) have seen more dust than light in the last 12-18 months).

As I started my rebuild the goal was just to get credit and grow it; after about 18mo I got to a point where better rewards options opened up and I started chasing those. Of course like most you hit that phase where you have too many and thinning the heard begins. I got to that point about a year ago and have been focusing on cards with the highest ROI, no or very low annual fee, and that I'd use regularly.

My OCD helps me keep all these bad boys under control but I think my 'comfort' number is about 20 cards. I've re-organized all my cards this weekend and here is where I'm at. I COULD NOT have ever gotten to a point where I CHOOSE THE BANK and the rewards without this site and all the fantastic contributors here -- I've learned so much and can never repay it, but THANK YOU!!!

MY CORE CARDS (Tier 1 & 2) -- each 'main' card has a back up since most high rewards card have a cap on what you can earn. My excel doc keeps track of that cap and when it's reached I flip to the Tier 2 card until it's safe to return to the Tier 1 card.

MY LOW RATE/BILL CARDS -- The low rate cards speak for themselves offering 0% APR on purchases for X amount of time. All my bills go on (3) cards and they're paired with the highest ROI. Yes, I could just put them all on one card, but where's the fun in that? LOL They serve their overly complicated, self-inflicted purpose lol

MY BONUS & TRAVEL CARDS -- The 5% cards pay for themselves over and over, along with no annual fee. I mainly use the Freedom/Discover if the right category pops up while I'm using Tier 2 cards. My Tier 1 cards get the same/better returns thru the year. I don't travel as much as I used to, just for work now, but when I'm going between FL and TX or NY, I like to use cards dedicated for trips. Not because these cards offer a special reward for doing so, but in case someone jacks/skims my data I'll know exactly where it came from and it keeps it isolated from my core cards. I don't want to deal with banking disputes and trying to use the same card at the same time. I'd rather put it down and let everything iron out while they do their thing. This has happened a couple times and there's never a guarantee this method works, but since I started it a few years ago I've never had an issue with it. It works for me.

MY LEGACY/BIZ CARDS -- Legacy I keep either due to the high limit or age. They get very little use but provide perks just by keeping them around, so that's what I'm doing. My USAA card is my oldest active card and the Navy is about $34k, not my highest limit, but high enough that I'm keeping it around. The SPG, Discover Chrome & Prestige are all on the chopping block. Marriott cancels out the SPG, Chrome is definitely going and Prestige, I might downgrade to a TY card or purge it. I'm hoping after a while I can roll that $23k limit into my DC/Simplicity, but it's just a strong 'hope' lol Citi may force me to just close it and move on. The annual fee is no longer useful with its nerfed changes over the years

I'm sure I still might have a few more corners I could slim down, but for today I feel good about this lineup. Between personal and biz I have 24 cards. With a few exceptions of eliminating some, I'm not sure there is much out there that will gain me better rewards (based on my spending, etc). It may seem overly dense for the 'avg consumer' but I've banked at least $2,800 - $3,500 each year for the last (3) years with this setup. I charge all my junk thru the year and when those sleigh bells start ringing, I start cashing out! Happy Free Holidays!! Some folks do coupons, I do cards

Again it's awesome to finally get to this point and can't thank everyone enough for their help guiding thru my journey. In time, you can put things back together and sometimes, it's even better than it was before.

Re: My Final Lineup?? Rebuild Results (2015 to Now)

Anonymous — Sun, 24 Jun 2018 15:27:23 GMT

Well presented. What categories are you using for Cash+? Fast food and ground transportation? I recently started using for utilities fast food and restaurants.

Re: My Final Lineup?? Rebuild Results (2015 to Now)

UpperNwGuy — Sun, 24 Jun 2018 15:36:37 GMT

Hmmm... I have my ideal lineup with just 4 cards and 3 backups. The only way I would add a card at this point is if a new card came along that rewarded grocery purchases at 3% without all the silliness that makes Amex BCE and NFCU More Rewards so unappealing.

-- Chase Sapphire Reserve for dining and travel (3% --> 4.5%)

-- PenFed Power Cash for most other things (2%)

-- United Explorer for United flights to get the perks

-- UNFCU Azure for true chip+PIN in Europe

Re: My Final Lineup?? Rebuild Results (2015 to Now)

credit_is_crack — Sun, 24 Jun 2018 15:32:39 GMT

Thanks Avogadro! Cash+ is set to Transportation (UberEats), Fast Food and Reataurants. I know some are 2.5% and others 5.5% but it’s easier for me to just keep it as a ‘food’card. I was thinking about a 2nd Card for Cell and Utility, maybe, but my spend on food is larger than those bills so I get a better return this way. 2.5% on bills and 3% on cell phones is close enough for me lol

Re: My Final Lineup?? Rebuild Results (2015 to Now)

wasCB14 — Sun, 24 Jun 2018 15:34:03 GMT

On mobile now. Will share thoughts later, but I wonder...

How do you value MRs? Marriott? TYs?

Because some cards might be superfluous from a rewards standpoint.

Re: My Final Lineup?? Rebuild Results (2015 to Now)

credit_is_crack — Sun, 24 Jun 2018 15:35:28 GMT

@Upper...I think as time goes by my lineup will continue to dwindle as life gets more complicated, but I don’t want to do something crazy like move overall credit from $400k > $150k over night. I’m sure my scores would have convulsions lol in time my friend, in due time

Re: My Final Lineup?? Rebuild Results (2015 to Now)

Anonymous — Sun, 24 Jun 2018 15:38:40 GMT

@credit_is_crack wrote:
Thanks Avogadro! Cash+ is set to Transportation (UberEats), Fast Food and Reataurants. I know some are 2.5% and others 5.5% but it’s easier for me to just keep it as a ‘food’card. I was thinking about a 2nd Card for Cell and Utility, maybe, but my spend on food is larger than those bills so I get a better return this way. 2.5% on bills and 3% on cell phones is close enough for me lol

That is great. Have you tried postmates or anything similar to that? Latest postmates order came through as transportation on my PRG, so maybe I can get 5% on future orders! I know what you mean. I am often pleasantly surprised as what actually comes through as fast food instead of restaurant. However disappointed when I only get 2%

Re: My Final Lineup?? Rebuild Results (2015 to Now)

credit_is_crack — Sun, 24 Jun 2018 15:39:16 GMT

I’m definetely interested in your thoughts.

MR is minimal and I use those on amazon easily. Marriott I do get reward out of but I exclusively use that for hotel charges. Those points add up fast and in just last year alone I’m back up to 117k points. That gets me about 6-7 free days/nights at a star 3 so not too shabby.

TY - I also use those on amazon but this card gets very little attention anymore. I don’t count TY at all really. I’ve been shifting to cash back cards mostly to avoid the silly various conversion rates.

Re: My Final Lineup?? Rebuild Results (2015 to Now)

credit_is_crack — Sun, 24 Jun 2018 15:42:42 GMT

@Avogadro, the thing I love is that I’ve become disciplined enough that I don’t spend more money for points, but just get rewarded for things I was already buying! I have that extra .5% for the first year, I think it expires in late summer, but 5% or 2% still beat 0% and the redemption is easy. Just drop it right into the USB account and if it’s more than $100 you get an extra $25 Visa gift card. Money on Money on Money haha

Re: My Final Lineup?? Rebuild Results (2015 to Now)

Anonymous — Sun, 24 Jun 2018 15:47:06 GMT

@credit_is_crack wrote:
@Avogadro, the thing I love is that I’ve become disciplined enough that I don’t spend more money for points, but just get rewarded for things I was already buying! I have that extra .5% for the first year, I think it expires in late summer, but 5% or 2% still beat 0% and the redemption is easy. Just drop it right into the USB account and if it’s more than $100 you get an extra $25 Visa gift card. Money on Money on Money haha

This is what made me get the card over 4 years ago. Unfortunately, it was only usable once! Did you get an offer to use that multiple times?

Re: My Final Lineup?? Rebuild Results (2015 to Now)

wasCB14 — Sun, 24 Jun 2018 16:16:07 GMT

@credit_is_crack wrote:
I’m definetely interested in your thoughts.

MR is minimal and I use those on amazon easily. Marriott I do get reward out of but I exclusively use that for hotel charges. Those points add up fast and in just last year alone I’m back up to 117k points. That gets me about 6-7 free days/nights at a star 3 so not too shabby.

TY - I also use those on amazon but this card gets very little attention anymore. I don’t count TY at all really. I’ve been shifting to cash back cards mostly to avoid the silly various conversion rates.

Why keep a PRG and pay a $195 AF for rewards you find inferior to no-AF cash back options?

You have a 2.5% USAA card. I can understand getting the bonus on Cash Magnet, but why rotate two 2% cards? Why have a separate 2.5% grocery card? I have a Double Cash, but it's for price/warranty benefits and not rewards. Your presentation suggests you have it for rewards.

If you're Platinum Honors, BofA Premium makes some other cards superfluous. If you're not, it's superfluous.

Re: My Final Lineup?? Rebuild Results (2015 to Now)

wasCB14 — Sun, 24 Jun 2018 16:20:51 GMT

Also, SPG will be getting a renewal night. I just got rid of my Prestige and would encourage you to do the same if you're not a frequent 4th nighter. If that second Discover is a Chrome it seems superfluous.

Re: My Final Lineup?? Rebuild Results (2015 to Now)

credit_is_crack — Sun, 24 Jun 2018 16:24:02 GMT

@Anonymous wrote:
This is what made me get the card over 4 years ago. Unfortunately, it was only usable once! Did you get an offer to use that multiple times?

I did - it stated it was recurring up to 7 times max (i've used 2 so far), not sure why '7' is the cap, but it is for me. I think they ran an exceptional promo on it last summer where it came with .5% extra in every tier for 1 year (so 5.5%, 2.5% and 1.5%), $25 gift card each time $100 or more is redeemend and a $150 SUB for $500 spend. I think i just got lucky. At that time tons of folks applied for it and had issues with getting the published bonuses, but I didnt have any issues and it all pays out like clockwork.

Re: My Final Lineup?? Rebuild Results (2015 to Now)

credit_is_crack — Sun, 24 Jun 2018 16:34:51 GMT

@wasCB14 wrote:
@credit_is_crack wrote:
I’m definetely interested in your thoughts.

MR is minimal and I use those on amazon easily. Marriott I do get reward out of but I exclusively use that for hotel charges. Those points add up fast and in just last year alone I’m back up to 117k points. That gets me about 6-7 free days/nights at a star 3 so not too shabby.

TY - I also use those on amazon but this card gets very little attention anymore. I don’t count TY at all really. I’ve been shifting to cash back cards mostly to avoid the silly various conversion rates.
Why keep a PRG and pay a $195 AF for rewards you find inferior to no-AF cash back options?

You have a 2.5% USAA card. I can understand getting the bonus on Cash Magnet, but why rotate two 2% cards? Why have a separate 2.5% grocery card? I have a Double Cash, but it's for price/warranty benefits and not rewards. Your presentation suggests you have it for rewards.

If you're Platinum Honors, BofA Premium makes some other cards superfluous. If you're not, it's superfluous.

I agree. I recently downgraded from Platinum to PRG; I did use the airline credits, uber credits and TSA stuff so it was paying for itself mostly, but as my travel has decreased the Platinum isn't a good fit any longer. I downgraded it to PRG about a month ago, but was torn between closing it altogether. I decided to keep it because it is my oldest amex card and it does give me perks still, but it's still up for debate. Right now its been placed in 'travel only prison' lol

I know the Limitless won't be grandfathered forever and I suspect it'll drop to a 2% or even the 1.5% Preferred Cash Rewards. I keep the Citi/FNBO 2% cards so when USAA does finally make that change I have those two to keep in the rotation. If the USAA card goes to 2% or 1.5% then it's getting axed, mainly because its younger than the Citi/FNBO cards I have.

I didn't get the PenFed Platinum for groceries specifically@, but its my 2nd oldest card with a $47,600 limit @ 9.99% APR. It was my gas card, but when they changed it from Gas Stations to Gas Pump, it began to limit itself. BofA is 3% and now I have the 5% USAA card. Due to age and limit, I'm not getting rid of this one. Having it as the Tier 2 Grocery card ensures I put at least some use thru it each year, vs no use and risk of closure/CLD - but that doesn't seem to be a PenFed problem - they prefer Egyptians lol. Until then I 'assigned' it to that spot. It will outlive the Limitless. I've considered PC'ing it to something else but the Gold card is not useful for me since I don't finance things on cards and the PowerCash is good, but back to your point, why layer in more 2% cards when I already have 2 for that purpose. Above that PenFed doesn't PC, but instead just closes the old and transfers the limit over to a new card, losing all tenure in the process.

I'm sure my reasoning seems overly complex, but there's a bit rhyme to my reason lol

Re: My Final Lineup?? Rebuild Results (2015 to Now)

credit_is_crack — Sun, 24 Jun 2018 16:37:45 GMT

@wasCB14 wrote:
Also, SPG will be getting a renewal night. I just got rid of my Prestige and would encourage you to do the same if you're not a frequent 4th nighter. If that second Discover is a Chrome it seems superfluous.

Yeah i'm not sure exactly whats going to happen with the SPG card, but it looks like the Marriott will offer the same items (if not more) for the same costs. The Chrome is on the chopping block, SPG is heading that way and Prestige is only staying open until I can transfer the limit and spread it over the DC and Simplicity cards. I'm with you there...Prestige is on its way out but not willing to just toss the $23k Citi limit on it. Not quite yet anyway..

Re: My Final Lineup?? Rebuild Results (2015 to Now)

wasCB14 — Sun, 24 Jun 2018 17:34:21 GMT

You can PC Prestige to something without an AF.

What's your criteria for deciding between 0% financing and something with better rewards?

Re: My Final Lineup?? Rebuild Results (2015 to Now)

Anonymous — Sun, 24 Jun 2018 17:36:17 GMT

Nothing to add to what has already been said but had to commend you on your presentation and graphics. Well done

Re: My Final Lineup?? Rebuild Results (2015 to Now)

credit_is_crack — Sun, 24 Jun 2018 18:18:14 GMT

@wasCB14, right now nothing really lol both are a step up from where it’s at now for me lol I know I can have 2 DC cards, but will they let me merge them?

The no AF is option 1, after that based on the amount of redundancy I have now, it would seem off to have 2 of the same card lol but I get what you mean

Re: My Final Lineup?? Rebuild Results (2015 to Now)

credit_is_crack — Sun, 24 Jun 2018 18:20:30 GMT

Thanks Irish, that was cool to say. Pics help me to dissolve the chaos of words lol

Re: My Final Lineup?? Rebuild Results (2015 to Now)

wasCB14 — Sun, 24 Jun 2018 20:10:47 GMT

@credit_is_crack wrote:
@wasCB14, right now nothing really lol both are a step up from where it’s at now for me lol I know I can have 2 DC cards, but will they let me merge them?

The no AF is option 1, after that based on the amount of redundancy I have now, it would seem off to have 2 of the same card lol but I get what you mean

I think Citi will merge, but that it takes a HP. I don't know if any CL is lost. I'm not at all certain as I've just requested SP CLIs from them and never reallocated. As an aggressive price rewinder, closing a Citi account entirely when I can keep it without an AF is not something I've explored.

You could try to PC to a Dividend. I thought about doing that with my Prestige, but didn't like the rest of the 2018 calendar.

I take it BofA is mostly about the airfare extras credit? Lender diversification?

Having two Double cash cards might feel off, but it's not as off as keeping a Prestige you're not putting to good use. If redundancy is a problem, there are plenty of other such situations in your 27-card lineup.