topic Re: If you can only have 1 credit card, which would it be? in Credit Cards

If you can only have 1 credit card, which would it be?

youdontkillmoney — Sun, 06 Apr 2014 01:56:47 GMT

if you could only have one credit card, for life, which ONE would it be?

(assume no matter how exclusive it is, even if invite only, you can have it if you want that to be your only one)

(also assume the card has to exist right now)

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youdontkillmoney Stats:

Credit experience since 1991: Got my first credit card at 18 and for the past 23 years I've NEVER been late or missed any kind payment

FICO (as of 04/04/2014): Experian: 798, Transunion: 786, Equifax: 783

"Gardening" since 04/05/2014 and for the foreseeable future.

Total 18 credit cards: $222,610:

AMEX Platinum ($85,000 with $450 annual fee plus an extra $175 for up to three additional member cards for $625 total each year); Barclay's Black Card Stainless Steel Visa card ($10,000 with $495 annual fee and the last time I used this card the reaction is "wow, your card is heavy" and I just smile); Diners Club Carte Blanche ($15,000 with $300 annual fee); Barclaycard Arrival World Mastercard ($12,500); AMEX Business Platinum ($3,000); Bank of America Visa Signature ($5,000); Capital One ($2,000); Citibank MasterCard ($13,000); Discover ($3,000); Capital One Quicksilver (formerly HSBC) $20,000; JCB Card ($3,000); Juniper MasterCard ($5,000); Merrill Lynch Visa Signature ($5,000); US Bank Visa ($3,500); Wells Fargo Visa ($9,000); Credit Union Visa ($7,500); Chase Freedom Visa ($8,000); Citi Diamond Preferred ($13,200)

Total 4 Lines of Credit: $45,200

Wells Fargo Line of Credit: $11,200 ($25 annual fee with 13.75% APR)

Credit Union: $20,000 ($0 annual fee with 15% APR)

US Bank Premiere Plus Line of Credit: $5,000 ($0 annual fee with 13% APR)

Citibank Custom Line of Credit: $9,000 ($50 annual fee waived first year, and if used once a year, annual fee waived with 12.99% APR)

Total purchasing power: $267,810

Re: If you can only have 1 credit card, which would it be?

pizzadude — Sun, 06 Apr 2014 02:51:27 GMT

Moving to credit cards forum

Re: If you can only have 1 credit card, which would it be?

Jlu — Sun, 06 Apr 2014 02:55:31 GMT

JP Morgan Palladium

Re: If you can only have 1 credit card, which would it be?

TVP125 — Sun, 06 Apr 2014 03:57:02 GMT

I would stick with the Amex TrueEarnings

Re: If you can only have 1 credit card, which would it be?

longtime_lurker — Sun, 06 Apr 2014 04:17:14 GMT

Sallie Mae WMC

Such great categories. You're always going to need gas, groceries, and "books" from Amazon

Re: If you can only have 1 credit card, which would it be?

14Fiesta — Sun, 06 Apr 2014 04:37:12 GMT

Assuming annual fee waived, and invitation status dropped, I would go for the Centurion Card from American Express, just for the prestige of it.

Re: If you can only have 1 credit card, which would it be?

vpae — Sun, 06 Apr 2014 04:43:56 GMT

Someone has to take one for the team

Re: If you can only have 1 credit card, which would it be?

Creditaddict — Sun, 06 Apr 2014 05:24:29 GMT

@Jlu wrote:
JP Morgan Palladium

This would be my choice to assuming that all the world isn't going to start taking American Express just because you can only carry 1 card... If who takes it would not be a factor, then American Express Centurion Black Card because they have been dealing with high spending a lot longer then Chase has and they get a little to froggy for me sometimes.

Re: If you can only have 1 credit card, which would it be?

Revelate — Sun, 06 Apr 2014 05:59:47 GMT

Can't really answer as certainly my own lifestyle has gone from 340 days a year travel, to one place with decent disposable income, to my soon to be running as lean as possible for the next several years and learning how to cook as a result... after which there's a payoff (or two) or it's back to the grind for call it 30 years till retirement.

As a result if I were to pick a card that I was stuck with forever, it'd either be the best flat rate rewards I could find, or a category card which I could adjust. Since I don't know if the Cash+ can be changed in it's categories, and the Huntington Voice card tops out at 3%, my one card to rule them all would have to be a JCB Makurai card and just suck up the fact it probably won't be very good for me in the next 3ish years and I qualify for it as a Cali resident.

Re: If you can only have 1 credit card, which would it be?

hayhayhayday — Sun, 06 Apr 2014 06:06:43 GMT

Old Blue cash with FR immunity (since it would be only card) otherwise Fidelity Amex

Re: If you can only have 1 credit card, which would it be?

TiggerDat — Sun, 06 Apr 2014 12:44:58 GMT

I don't do prestige cards and since I have two Amexes in some respects I have all the prestige I could want. So then for now it would be one of three:

US Bank Cash +, Hunington Voice, or Citi Dividend. Since all I care about is Rewards, not APR, I just want the best rewards cards for thctegories not yet covered benefit, nothing more.

Re: If you can only have 1 credit card, which would it be?

Gunnar419 — Sun, 06 Apr 2014 13:12:45 GMT

@longtime_lurker wrote:
Sallie Mae WMC

Such great categories. You're always going to need gas, groceries, and "books" from Amazon

I would once have said Discover. In fact for years Discover WAS my only card. Great customer service, 5% categories, occasional little gifts and (in my case) my best APR.

Now though I'd go with longtime_lurker. Sallie Mae. Forget "prestige." Forget shiny metal cards. Forget VIP concierge services. 5% on gas, groceries, and Amazon -- now THAT'S living the good life!

Re: If you can only have 1 credit card, which would it be?

bch238 — Sun, 06 Apr 2014 14:09:09 GMT

I'd move all my Chase CL to my CSP and call it a day.

Re: If you can only have 1 credit card, which would it be?

ACsteel — Sun, 06 Apr 2014 14:23:50 GMT

I'm surprised to see AMEX on here, maybe it's b/c I travel, but first the card would have to be VISA since it is more widely accepted. Some kind of rewards is necessary needless to say, and lastly no foreign transaction fee. A modest annual fee is OK if the benefits of the card is justified.

Re: If you can only have 1 credit card, which would it be?

Swapmeet — Sun, 06 Apr 2014 16:01:28 GMT

@Gunnar419 wrote:
@longtime_lurker wrote:
Sallie Mae WMC

Such great categories. You're always going to need gas, groceries, and "books" from Amazon
I would once have said Discover. In fact for years Discover WAS my only card. Great customer service, 5% categories, occasional little gifts and (in my case) my best APR.

Now though I'd go with longtime_lurker. Sallie Mae. Forget "prestige." Forget shiny metal cards. Forget VIP concierge services. 5% on gas, groceries, and Amazon -- now THAT'S living the good life!

"We'll be back in the high life again...." I think that the next card that I apply for will be the Sallie Mae World MC....but I have no idea when that will be.....after just filling up my tank for 75 bucks and spending a few hunge at Amazon....

Re: If you can only have 1 credit card, which would it be?

CreditScholar — Mon, 07 Apr 2014 02:28:35 GMT

@Creditaddict wrote:
@Jlu wrote:
JP Morgan Palladium
This would be my choice to assuming that all the world isn't going to start taking American Express just because you can only carry 1 card... If who takes it would not be a factor, then American Express Centurion Black Card because they have been dealing with high spending a lot longer then Chase has and they get a little to froggy for me sometimes.

+1. Visa/MC acceptance is critical to me, so having an Amex as my only card wouldn't be viable.

I'd pick the palladium as well, since 1.35 UR per dollar spent is about as good as it gets IMO. It also has UA lounge access, EMV, no forex, etc.

The UA Club is a close 2nd choice, but I'm definitely willing to take 0.15 less per dollar to have the flexibility of UR vs. UA miles only. I don't rent cars often enough to take full advantage of the primary CDW, and I stay at Hyatts enough to achieve plat anyways.

Re: If you can only have 1 credit card, which would it be?

Anonymous — Mon, 07 Apr 2014 03:02:03 GMT

@CreditScholar wrote:
@Creditaddict wrote:
@Jlu wrote:
JP Morgan Palladium
This would be my choice to assuming that all the world isn't going to start taking American Express just because you can only carry 1 card... If who takes it would not be a factor, then American Express Centurion Black Card because they have been dealing with high spending a lot longer then Chase has and they get a little to froggy for me sometimes.
+1. Visa/MC acceptance is critical to me, so having an Amex as my only card wouldn't be viable.

I'd pick the palladium as well, since 1.35 UR per dollar spent is about as good as it gets IMO. It also has UA lounge access, EMV, no forex, etc.

The UA Club is a close 2nd choice, but I'm definitely willing to take 0.15 less per dollar to have the flexibility of UR vs. UA miles only. I don't rent cars often enough to take full advantage of the primary CDW, and I stay at Hyatts enough to achieve plat anyways.

+2. Palladium for me, followed by CSP next.

There are also rumors going around that the perks for the Palladium will be improved sometime next year, so hopefully things can only get better.

Re: If you can only have 1 credit card, which would it be?

Crisis — Mon, 07 Apr 2014 06:49:44 GMT

I'd use the Doctor's psychic paper to be an Arrival, a Sallie Mae, and one tbd according to rewards.

Then again, if I had the Doctor's psychic paper, I probably wouldn't need a credit card.

Re: If you can only have 1 credit card, which would it be?

MrCollector — Mon, 28 Apr 2014 03:11:25 GMT

I would go with the CSP. I don't need everyone staring (more than they already do) when I pull out a Palladium, it's a visa siggy, and I can't pass up great travel points.

Re: If you can only have 1 credit card, which would it be?

SuperKirby — Mon, 28 Apr 2014 05:39:31 GMT

JPM Palladium for me. That way I don't have to carry my Amex Plat, CSP, and United cards all in one wallet. At one point I use to have the Plat, CSP and United Club card which is $940 in AFs. Having the $595 (I think) AF from one Palladium card would've saved me more in AFs. Palladium is the perfect card for me but too bad I refuse to do private banking