Guidance from ppl rocking multiple different point systems (and why?)

[elixerin]

some individuals im seeing here have 0 issues running 2-3k per year just in annual fees and using multiple setups from different banks, question is, why? i feel somewhere in the 3000 a year fees most benefits and points overlap with each other not to mention the gradual earning of one system's point vs the other. Naturally if ur sane, how can you rock a bunch of AF setups and genuinely obtain value from each curious to learn and see how these individuals manage without a worry of value from the fees they give (@K IM LOOKING AT U xD)

Thanks for the read and input FICOFaM

[Anonymous]

Because their income/spend supports it?

[elixerin]

huh? so ur saying if ur income supports wasting money go for it? 

i think you missed the point, credit to me is all about value ive earned without expense. after 2K+ a year in fees you're pretty much bound to get overlapping benefits.. what does spend or income for that matter have to do with positive expected value from multiple systems? often times than not with already experienced benefits/point earning.

Thats how im seeing it, waiting on a response from "the other side" to actually get a good grasp of what im inquiring about

Thanks for the replies

[Anonymous]

I never said "if income supports wasting money go for it." I was stating a question as it's the only reasons that I could think of that would warrant what you're asking. To each their own! 

[elixerin]

Indeed, these people know what they are doing tho.. theres no way anyone purposely pays thousands a year in fees if the reward in return isn't exponential? 

If you're gonna play the game, least learn from the best... all ears here

[Anonymous]

Benefits don't always overlap (much) on some high-fee cards.  For example, free nights on some hotel cards, companion passes on airline cards, 4th night free on Prestige, mobile purchases on USB AR etc, can each be very useful in their own right.   And within an eco system, you can certainly argue the case for having the Green, Gold, Plat and CS Plat Amexs, as each provides unique benefits.

Where high income can come into it:  with "enough" money, you can decide to get a card if the expected benefits are somewhat more than the AF, and so long as each card is net positive, collect them all.   With lower incomes, if you are about to spend $400+ on an AF, you may want to make sure that it is the best you can do for that cost, and so will be more selective (because $400 is real money at this income level!)

It is certainly possible to be wasteful and get overlapping benefits (how many TSA-PRE/Global Entry credits are useful) that don't exceed the cost, but you don't have to....

[elixerin]

thanks for the thought out reply Lurker

Indeed was a bit of an overstatement on overlapping benefits or rewards on all cards hah, n i guess the income is more the "justify" factor that everyone has in them

[FinStar]

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@Anonymous wrote:

Benefits don't always overlap (much) on some high-fee cards.  For example, free nights on some hotel cards, companion passes on airline cards, 4th night free on Prestige, mobile purchases on USB AR etc, can each be very useful in their own right.   And within an eco system, you can certainly argue the case for having the Green, Gold, Plat and CS Plat Amexs, as each provides unique benefits.

Where high income can come into it:  with "enough" money, you can decide to get a card if the expected benefits are somewhat more than the AF, and so long as each card is net positive, collect them all.   With lower incomes, if you are about to spend $400+ on an AF, you may want to make sure that it is the best you can do for that cost, and so will be more selective (because $400 is real money at this income level!)

It is certainly possible to be wasteful and get overlapping benefits (how many TSA-PRE/Global Entry credits are useful) that don't exceed the cost, but you don't have to....

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This ^^^

Plus, IME, those who have the income and their own strategy to support a variety of ecosystems for these AF products isn't "wasteful".  The question really is not 'why', but if someone has the leverage, why not?

Oh...and... xD

[AverageJoesCredit]

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@elixerin wrote:

huh? so ur saying if ur income supports wasting money go for it? 

i think you missed the point, credit to me is all about value ive earned without expense. after 2K+ a year in fees you're pretty much bound to get overlapping benefits.. what does spend or income for that matter have to do with positive expected value from multiple systems? often times than not with already experienced benefits/point earning.

Thats how im seeing it, waiting on a response from "the other side" to actually get a good grasp of what im inquiring about

Thanks for the replies

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Spend or income does matter because those who have  the income and pays all those fees do so becsuse of their specific spend. Most people here who pay thousands in AF normally do so with a purpose , not many do just because. Generic answers sometimes work because its that simple

[elixerin]

dang, who woulda thought it was just that simpL