@jenn_bar wrote:
@HiLine wrote:
@jenn_bar wrote:
@HiLine wrote:
@jenn_bar wrote:
@LawStudentCivilis wrote:
@jenn_bar wrote:
@LawStudentCivilis wrote:If I apply for an Amex it will for sure be within the next month. So if I do apply for an AMEX, My cards will be: Chase Freedom, Cap One CW, Dillard's Amex, and AMEX?? Good point about them aging in a few years. My last worry is I just opened the Cap One to balance off my last Chase card that I closed and if I open another AMEX it will drag down the overall age of my accounts. Sigh decisions decisions.
Honestly, the way I look at is from the viewpoint of the future. I never plan to really utililize these cards in general plus none of them have tremendous signing bonuses like the CSP that I received last month. I want them for the purpose of extending my CL, therefore increasing my score within the next three years. Granted, when I travel, I'm going to try as best I can to stay at a Hyatt and retain points for the way future, but my goal is not to change my credit lifestyle as it is right now.
I will not touch anything for a few years after I apply for the Amex and Hyatt Chase. I'm super frugal as it is, so this all scares me a bit, but I know it will be worth it when I need a mortgage or a car loan in 2+ years.
Seems like we have the same worries and habits. It's great talking with someone with the same concerns. I haven't found a travel card that is helpful to me just yet, because I have no allegiance to one place, I usually like the best deals. Most travel cards have an AF and that turns me off to them.
That is totally true; however, I'm making an allegiance today! Haha no, but really I've chosen Hyatt because they give the best service to their credit card members. Everything from upgrades to quality of service is better. Also, I am apart of the ABA Law Student Division and all of their annual/regional meetings are never far from a Hyatt!
Provided that you have your heart set on Hyatt, using your current Freedom - CSP combo is the best way to maximize Hyatt points. Regarding BCE/BCP, whether the annual fee is worth it depends on how much you spend on groceries. Give me an estimate of your monthly grocery bill and I can do some quick math to figure out if the annual fee is justifiable.
Do you have another idea besides Hyatt? Always open to hear! I will do this process tonight.
According to Mint.com I have already spent $260 on groceries for this month, so let's double that and say $500?
I'll do the BCP math first. At your quarterly grocery spending of $1.5k:
The BCE will give you $45 back (3% of 1.5k)
The BCP will give you $90 back (6% of 1.5k), or $45 in excess of the BCE's rewards
Annualized, the BCP gives you an extra $180 back. Compared to the annual fee of $75, that's a profit. So the annual fee is very much justifiable
In terms of hotel availability, Hilton and Mariott are the best, so their respective credit cards are worth looking at. If you typically travel to big cities where just about every single hotel chain is present, SPG offers easily the best value. Second to that is Club Carlson, whose credit card is sponsored by US Bank.
Thank you! That is SO helpful!
I was considering the Hilton; however, because I am doing this to increase my credit limit, I've heard that Hyatt Visa Sig gives a large sum usually at approval. Plus, Hyatt's are very awesome to their credit card guests. Curious to know if this is the same with the Hilton? Which Hilton card would you suggest?
It is true that Hyatt credit cardholders are treated differently; at a minimum the card gives you Platinum status. I have heard that Hyatt cards tend to have a high credit limit, but provided that you already have 2 cards with sizable limits with Chase, I'm not sure how much extra credit Chase will be willing to extend to you for a Hyatt card. Do you have banking relationship with Chase? If you have significant assets with them, that may help.
Hilton has so many members that holding their credit card doesn't really give you anything except status upgrades, and even status upgrades only matter if that's for Gold status or higher. For this purpose Citi actually has a better card than Amex. I'm talking about the Citi Hhonors Reserve, a card that awards you with Gold status and earns points very quickly if you use it to buy airline tickets or rent cars. For Hilton booking and regular spending, this card sucks compared to the Amex Surpass. So it depends on your pattern of spending and how much you value the added benefits of Gold status.
@jenn_bar wrote:
Yes, I do have decent banking accounts with Chase, but you might be onto something there. I just read more about the Citi HHR and it sounds great if I make it my major credit card. I do not do tons of traveling right now being in school, so spending the $10,000 a year (I feel like it would be necessary to make it worth while) would only happen with it being my major card. The 3:1 typical purchase points seem great too--points would definitely add up fast.
Making that my main card would put my CSP on the back burner, which I was hoping would help with my Hyatt card.
Why does it seem like you cannot win?! Now I am nervous about Chase extending my credit because of my Freedom and CSP card.. Eek.
Do you think making the Citi HHR my main card worth the benefits? If you had a Freedom, CSP, CHHR, and Amex BCP, how would you use each card?
Given that you probably will use your BCP for supermarket and gas station spending and rarely eat out, a Citi card will give you more Hhonors points than an Amex card in general. But with that level of spending the $95 annual fee is not justifiable; I would suggest that you apply for the Reserve, get the bonus points and certificates, then downgrade the card to the regular Hhonors within the first year.
The complicatedness of credit card reward structures are probably planned, but if you play the cards right you'll still come out ahead. 
If I had those 4, I would put my grocery spending on the BCP and maximize the 5% Freedom categories if possible. For travel booking and general spending, it will be between the CSP and the Reserve, depending on how much you value Hyatt points vs Hilton points. If you're really into Hilton, the Reserve is the winner. If you don't have a clear preference, the Hyatt probably wins.
@HiLine wrote:Given that you probably will use your BCP for supermarket and gas station spending and rarely eat out, a Citi card will give you more Hhonors points than an Amex card in general. But with that level of spending the $95 annual fee is not justifiable; I would suggest that you apply for the Reserve, get the bonus points and certificates, then downgrade the card to the regular Hhonors within the first year.
The complicatedness of credit card reward structures are probably planned, but if you play the cards right you'll still come out ahead.
If I had those 4, I would put my grocery spending on the BCP and maximize the 5% Freedom categories if possible. For travel booking and general spending, it will be between the CSP and the Reserve, depending on how much you value Hyatt points vs Hilton points. If you're really into Hilton, the Reserve is the winner. If you don't have a clear preference, the Hyatt probably wins.
Oy my head is spinning. The more I research, the more questions I have lol
