topic Re: I finally Figured it out.. my plan. in Credit Cards

I finally Figured it out.. my plan.

Anonymous — Tue, 14 Aug 2018 21:40:25 GMT

Hey it’s me again.

So I’ve posted here recently about wanting to maximize Cashback on my cards, and that I’m thinking of closing a few, well after a while of thinking I finally figured out my plan without having an overwhelming amount of credit cards to track.. here it is.

MY CASH BACK PLAN:

AMEX CASH BACK PREFERRED: (I need it)
- 6% US Supermarkets $6000
- 3% US gas & US department stores

CHASE AMAZON PRIME:
- 5% Amazon/WholeFoods
- 2% Restaurants/Gas/Pharmacies

UBER VISA (I finally got it)
- 4% Dinning/bars/takeout/ect
- 3% Hotel / Travel
- 2% Online purchases/ Apple Pay
I Only received a $500 limit but it’ll work, it’ll be my main card. I’m not a huge traveler but it’ll be cool to have a “Travel Card” without an annual fee.

FIDELITY REWARDS
- 2% Everything
- Bill card.

AMEX MAGNET/BofA REWARDS
- 1.5% Everything else.
- non Category stuff
- 3% Gas and non category stuff (Premium Rewards. My card is Really Economic so I only spend 50-60 a month on gas. Not worth it to carry it around after I get the Bounus.. unless they have some good Amerideals like one I read where but 2 $15 times on AT&T and get $70.... 🧐 targeted but I can hope lol.

AND there you have it, my Cashback Plan.. to maximize my spending. And the best thing, I’ll only have to worry about 4 accounts. 2 Amex 1 Barclays 1 Chase 1 Fidelity (Auto Pay)

so I’ll be closing the Venture or PCing to a QS before the annual fee hits next August, PRG, PayPal Cashback, Maybe The Citi card, I don’t like any other Citi card . Their all trash. The Discover I’ll SDit for 0apr offers and stuff.

Re: I finally Figured it out.. my plan.

OmarR — Tue, 14 Aug 2018 21:54:06 GMT

@Anonymous wrote:
UBER VISA (I finally got it)
- 4% Dinning/bars/takeout/ect
- 3% Hotel / Travel
- 2% Online purchases/ Apple Pay
I Only received a $500 limit but it’ll work, it’ll be my main card. I’m not a huge traveler but it’ll be cool to have a “Travel Card” without an annual fee.

A lot, and I mean a lot of people, get a default starting limit of $500. They will call and ask for an increase. 5 mins on the phone. I remember vaguely, but it was 2K to 10K for me.

Re: I finally Figured it out.. my plan.

digitek — Tue, 14 Aug 2018 21:59:11 GMT

Maybe I'm smoking dust...but you list 6 cards then say you only have to worry about 4 and then put numbers for banks/cards that add up to 5 😁

Either way I like your 4 card plan,very efficient, very effective. Good work!

Re: I finally Figured it out.. my plan.

jesseh — Tue, 14 Aug 2018 21:57:52 GMT

Looks pretty good, thanks for sharing.

SDing the discover is probably a good idea, the rotating categories often come in handy.

the amex is a BCP I'm guessing

Re: I finally Figured it out.. my plan.

Anonymous — Tue, 14 Aug 2018 22:36:40 GMT

@digitek
Well, after I get the bonus on the BofA I won’t really use it... soooo it’s getting SDed
And the Fidelity is in auto. So I won’t worry about that one either.

Re: I finally Figured it out.. my plan.

staticvoidmain — Wed, 15 Aug 2018 00:07:07 GMT

I am targetting a similar structure to your setup. Now I am wanting that Uber card, especially now that Cap1 decided to offer the new 4% Savor with an annual fee.

Re: I finally Figured it out.. my plan.

kerplunk — Wed, 15 Aug 2018 12:13:05 GMT

What is the purpose of these cards?

AMEX MAGNET/BofA REWARDS

Your Fidelity card covers the “everything else” category with a higher cashback rate and your AMEX card covers the gas at the same rate. Just seems unnecessary.

Re: I finally Figured it out.. my plan.

Anonymous — Wed, 15 Aug 2018 12:24:29 GMT

That's a good plan.

I love the BCE/BCP because of its practicality.

I love the Amazon for WF plus online shopping. Although the BCP will get you 6% at WF over the 5%. I'm considering upgrading to the BCP on an offer and ditching the Amazon eventually.

The Uber is great too. I think it stacks up pretty well against CSP/CSR/PRG, unless you're traveling all the time.

Re: I finally Figured it out.. my plan.

Anonymous — Wed, 15 Aug 2018 15:57:03 GMT

@Kerplunk

I’m using the BofA until I get my $200 bonus. Same with the Magnet... after that, I’ll just SD them. Occasionally use the BofA for any good Amerideal.

Plus the Fidelity is just for bills...

Re: I finally Figured it out.. my plan.

Anonymous — Wed, 15 Aug 2018 16:01:43 GMT

@User9721

Well honestly there is not a Whole Foods anywhere near me soooooooo I’ll never use that category.... but I do shop on amazon A LOT.

And yeah, the Uber is definitely a great card, i was a little hesitant on getting it, and I finally pulled the trigger after reading reviews and and noticed that it was geared towards me a millennial. I’m just mad at the $500 limit but like another comment said, I’ll just call them and see if they can increase my limit.

Re: I finally Figured it out.. my plan.

Anonymous — Sat, 18 Aug 2018 19:49:06 GMT

@Anonymous wrote:
Hey it’s me again.

So I’ve posted here recently about wanting to maximize Cashback on my cards, and that I’m thinking of closing a few, well after a while of thinking I finally figured out my plan without having an overwhelming amount of credit cards to track.. here it is.

MY CASH BACK PLAN:

AMEX CASH BACK PREFERRED: (I need it)
- 6% US Supermarkets $6000
- 3% US gas & US department stores

CHASE AMAZON PRIME:
- 5% Amazon/WholeFoods
- 2% Restaurants/Gas/Pharmacies

UBER VISA (I finally got it)
- 4% Dinning/bars/takeout/ect
- 3% Hotel / Travel
- 2% Online purchases/ Apple Pay
I Only received a $500 limit but it’ll work, it’ll be my main card. I’m not a huge traveler but it’ll be cool to have a “Travel Card” without an annual fee.

These three are a great start on cash back plan! Others to consider:

Ducks Unlimited = 5% on gas, convenience stores at gas stations, and sporting goods stores

Discover = great rotating 5% categories to augment the above (restaurants, groceries)

US Bank Cash + = great quarterly 5% categories (home utilities, department stores, etc.)

Finally, your Fidelity 2% card is a good catchall. Same for Citi Double Cash. But Orbitz Visa offers a 2% catchall, and 5% on Orbitz purchases. It's not technically cash back, but points are easy to use on hotel rooms. Something to think about.

Re: I finally Figured it out.. my plan.

Anonymous — Sat, 25 Aug 2018 00:36:35 GMT

@OmarR wrote:
@Anonymous wrote:
UBER VISA (I finally got it)
- 4% Dinning/bars/takeout/ect
- 3% Hotel / Travel
- 2% Online purchases/ Apple Pay
I Only received a $500 limit but it’ll work, it’ll be my main card. I’m not a huge traveler but it’ll be cool to have a “Travel Card” without an annual fee.
A lot, and I mean a lot of people, get a default starting limit of $500. They will call and ask for an increase. 5 mins on the phone. I remember vaguely, but it was 2K to 10K for me.

Right, I got $500 approved, called back and increased to $5500.

Re: I finally Figured it out.. my plan.

NRB525 — Sat, 25 Aug 2018 03:42:40 GMT

OP, where do you usually get groceries and gas?

When you look at the points earning on the PRG, did those locations code to get the added points for Groceries and Gas at those locations? The question comes up because AMEX does not code Groceries everywhere you can buy groceries. Fred Meyer, as an example is considered more like Wal-Mart or Target and none of those code Groceries.

Re: I finally Figured it out.. my plan.

Anonymous — Sat, 25 Aug 2018 12:49:38 GMT

Nice job on your choices, I like your plan.

I have taken a simpler route:

AMEX BCP (groceries 6%, gas 3%)

Citi Double Cash (2% all else, except dining, Costo, and Costco gas)

Wife's Costco Visa (Costco gas 4%, Costco 2%, and dining 3%)

Wife uses Target Redcard for 5% and also uses Kohl's for sales

In sock drawer:

Chase Freedom: Only pull out when quarterly category is something I cann use, and even then, I only take it for the single trip, like Walgreen's this quarter

Cap One Savor: Even though I am grandfathered in for the 4% dining, I have elected to leave this in sockdrawer. At about $3000 annually the difference between Costco's Visa at 3% and Savor at 4% is only about $30, and this is not worth carrying an extra card in wallet, for me.

Speaking of wallets (total non sequitar), I just ordered a Bellroy "Thin Sleeve" minimalist wallet. Does anyone have this one?

Re: I finally Figured it out.. my plan.

Anonymous — Sat, 25 Aug 2018 14:21:11 GMT

@Anonymous wrote:
@kerplunk

I’m using the BofA until I get my $200 bonus. Same with the Magnet... after that, I’ll just SD them. Occasionally use the BofA for any good Amerideal.

Plus the Fidelity is just for bills...

I know this was discussed before, but why not use it as your catchall card as well? How will you get 2% non-category with your other cards? Is the CL small or something? I use mine as my default card and have non-category/no-surcharge bills auto-paid on it as well.