Help with Long Game

[Anonymous]

Greetings Forums

Thank you to all that has given me input as before discoving this forum I was clueless with credit and used cash and debit cards only. It seems the long game is what this is all about and that includes building a strong profile of credit cards. With my new approvals I have been formulating a long term strategy with what cards I want for the long term. Here are my current cards in my wallet:

CSP - $7k

CFU - $5600

BCP - $7k

In my sd:

Quicksilver - $2k

Sync Amazon - $4k

Citi Best Buy - $1500

Amex Delta Plat - $2200

The three cards in my wallet are the ones I got this year. The SD cards I have had for about five years so I do not plan on closing them. If I read correctly to prevent a card to be AA you will have to use it about once every 3 months. Would it make sense to spread your subscriptions across some cards? For Hulu I put it on my Amex Delta because of the promotion.

I want to PC my Amex Delta Plat to the no AF blue card after I use my companion pass. I was considering keeping it so long as I use it on flights over $400 but I can find greater value with Chase travel partners. In one year I want to PC my CFU to a Freedom card and my CSP to a CSR. Then get the Ink Unlimited. So next year my goal it to have this lineup:

CSR

Freedom

Ink Unlimitted 

BCP (spend a lot on groceries)

I was thinking of the Ink Preferred and just use my business travel on that (I get reimbursed through my job) or maybe both. Think it will be too excessive plus I do not want to risk Chase AA my accounts if it appears that I am SUB chasing. That is not the case because I plan on having these cards for the long term. The Ink Cash seems good but I am not sure if I feel like going to Office Depot and buying gift cards but maybe in two years or so I will reconsider it. I was also thinking of a hotel card but I want to see where I end up staying this year and see if it makes sense to get one. Statuses are nice but my hotel picks are random so maybe I will try to book one brand and see how it goes. I go by the quality of the property, location, and price. I will pay an extra $150 a night to not stay near the airport and closer to the ocean or French Quarter (traveled to FLL and MSY a lot past few years).  

My income is going to go up over the next few years as I am being groomed to take over the CBO position. The current CBO is three to five years from retiring and picked me as his successor so I have been training with him the past year. So if all goes to plan I want to get into the Amex ecosystem too but that is within 3-5 years where I can justify my spend to have MR and UR. I

I was hoping for feedback on my plan and also a recommendation for a card. I want to add a card for emergencies that has a low APR and a high limit. Looking to add it in a year once I get my Chase cards as I am currently 3/24. I was looking into the Citi Simplicity card as an option. I can also get a 0% APR card every 12-15 months too. Anyone have a card for emergencies and if so, what kind?

Thanks again for all of your help!

[FinStar]

Your long term outlook plan appears to be a good one.

One quick note, as much as I like Citi, do not get the Simplicity CC. Much better options as far as a BT CC. Simplicity is a dead-end product that doesn't allow PCs. It works for some people, but given what you have shared, there's other contenders. I'd look into a CU, for instance.

Also, as far as a CC for emergencies - none. Build up your savings. You could potentially have a CC as a back up, for a short term period, though. Sure, life happens. However, if you strategically plan ahead, savings would ensure fluid sustainability, a CC not so much.

[Anonymous]

Thanks for the tips Fin!

As far as emergencies go I usually use my emergency fund. For example I had $5000 of unforseen medical expenses this year. I paid half on one card and the other half I paid today when I got my CSP. Figured I get points for it to. Sometimes I prefer not to use savings but it is easier to pay myself back at 0% interest than a credit card that has 20% interest. That is why I was thinking of getting a card with 0% interest every two years or so. I have 13 months of 0% APR on CFU so I paid half of the one medical bill one month and the other half the following month without using my savings.