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Yes, the 'everything else' card is really necessary. Because all the "interesting" spending opportunities usually fall into the everything else category. For example I can't tell you how many times I've opened a bank or credit union account (because I really wanted the account, not for nefarious purposes) only to find our during the process that they accept credit cards for your opening deposit... sometimes a sizeable amount. They never take Amex though, so while you never want to leave home without it, it doesn't do you much good at home, it seems.
Lots of other non-online opportunities present themselves too. This is the only reaon I keep my Citi DC and QS1 limits higher than I usually would.
I always feel like these pseudo-philosophical musings -- when taken down the same slippery slope that forms the basis of the threads I've seen that are similar to this -- really all end up with the same conclusion. Why have a Double Cash when you already have a Quicksilver -- it's only a .5% difference!!! .5% difference in a month is only a small amount, a few dollars really!! So why bother?? But then, why bother having a Quicksilver when you have a Freedom that earns 1% on non-category spending -- only a .5% difference!? The difference is only a small amount, a few dollars really!! Is it necessary?!
Well, of course it's not "necessary". Virtually no one earns rewards in such a substantial fashion (assuming they are earning their rewards in an artless way) that it has a vastly meaningful difference in their lives, particularly when we're talking about a few percentage points in rewards for each swipe. When people get a Double Cash over a Quicksilver they have been using, their mindset isn't, "Oh, my gosh. The extra .5% cashback on my purchases will help me afford my water bill this month that I never would have been able to afford before with my Quicksilver's 1.5%!" It's not a matter of necessity, of course, but this is not only obvious, it's also a bit of a straw man argument to depict anyone's position as such. These people are simply looking for a long-term, better value card, and that's fine.
@Anonymous wrote:I always feel like these pseudo-philosophical musings -- when taken down the same slippery slope that forms the basis of the threads I've seen that are similar to this -- really all end up with the same conclusion. Why have a Double Cash when you already have a Quicksilver -- it's only a .5% difference!!! .5% difference in a month is only a small amount, a few dollars really!! So why bother?? But then, why bother having a Quicksilver when you have a Freedom that earns 1% on non-category spending -- only a .5% difference!? The difference is only a small amount, a few dollars really!! Is it necessary?!
Well, of course it's not "necessary". Virtually no one earns rewards in such a substantial fashion (assuming they are earning their rewards in an artless way) that it has a vastly meaningful difference in their lives, particularly when we're talking about a few percentage points in rewards for each swipe. When people get a Double Cash over a Quicksilver they have been using, their mindset isn't, "Oh, my gosh. The extra .5% cashback on my purchases will help me afford my water bill this month that I never would have been able to afford before with my Quicksilver's 1.5%!" It's not a matter of necessity, of course, but this is not only obvious, it's also a bit of a straw man argument to depict anyone's position as such. These people are simply looking for a long-term, better value card, and that's fine.
Perhaps "necessary" conveys the wrong tone but I mean it with the implication of "worthwhile" more than anything. Of course, no cash back or rewards are a necessity to live one's life. My point here is that are the gains from having a "generic" card, amongst a handul or more of category cards, really useful enough to justify a separate account and the HP/AAOA ding? That's the discussion, not so much whether these things are vital/necessary to life, which of course they are not.
Some of my uncategorized spending:
TV/landline/internet bill
Cell phone bills
Water bill
Gas/electricity bill
Trash bill
AAA Auto Club
Car insurance
Yes.
That 2% adds up.
@kdm31091 wrote:Just another musing of mine similar to my "spreading too thin" thread in the past. Most of us have several cards for various categories, be it groceries, gas, dining, whatever. Most also have a generic 1.5% or 2% card for "everything else".
But outside very large spenders, is that "everything else" card really necessary?
I sort of look at it in the opposite way... DC and Discover (while it's in the double cash back promo) *are* my everything cards. "Everything else" is made up of the category cards for me (Discover sort of fits the bill for both everything and everything else right now, actually, but it will be an everything else card after the first year is up). While the category cards reflect things that I do spend a good amount on, the extra benefits are icing on the DC/Discover cake.
edit: I realize my wording is kind of odd by categorizing my spend as 'everything' and 'everything else,' but I think it gets the point across
@kdm31091 wrote:
@Anonymous wrote:I always feel like these pseudo-philosophical musings -- when taken down the same slippery slope that forms the basis of the threads I've seen that are similar to this -- really all end up with the same conclusion. Why have a Double Cash when you already have a Quicksilver -- it's only a .5% difference!!! .5% difference in a month is only a small amount, a few dollars really!! So why bother?? But then, why bother having a Quicksilver when you have a Freedom that earns 1% on non-category spending -- only a .5% difference!? The difference is only a small amount, a few dollars really!! Is it necessary?!
Well, of course it's not "necessary". Virtually no one earns rewards in such a substantial fashion (assuming they are earning their rewards in an artless way) that it has a vastly meaningful difference in their lives, particularly when we're talking about a few percentage points in rewards for each swipe. When people get a Double Cash over a Quicksilver they have been using, their mindset isn't, "Oh, my gosh. The extra .5% cashback on my purchases will help me afford my water bill this month that I never would have been able to afford before with my Quicksilver's 1.5%!" It's not a matter of necessity, of course, but this is not only obvious, it's also a bit of a straw man argument to depict anyone's position as such. These people are simply looking for a long-term, better value card, and that's fine.
Perhaps "necessary" conveys the wrong tone but I mean it with the implication of "worthwhile" more than anything. Of course, no cash back or rewards are a necessity to live one's life. My point here is that are the gains from having a "generic" card, amongst a handul or more of category cards, really useful enough to justify a separate account and the HP/AAOA ding? That's the discussion, not so much whether these things are vital/necessary to life, which of course they are not.
Ah, but see, that's a very different question and one that is much more subjective. Is couponing worthwhile? Is discount-hunting worthwhile? Is getting that small amount of extra cashback worthwhile?
It's a complicated equation for each person that involves many variables -- one's value of time, savings, expended effort, and enjoyment gained from doing it are the main ones. It seems to not be worthwhile to you -- that's ok. It is to me and a lot of other people as well. We can agree to disagree.