LONG TERM CREDIT CARDS?

[Anonymous]

Hi guys, 

i was just wondering what Reddit cards would you keep for the long term (forever) and be happy with them one in each category so for example hotels I was thinking for the choice privileges Up until I learned that the points expire if you don't use them or after 2  years.... so here are the categories 

1) travel

2) hotels

3) cashback

Im only choosing 3 because that's what intrigues me.. for me personally 

1) CSP (if I had it) 

2) choice privileges (or something better??????????)

3) Amazon prime visa sig. (my favorite card right now) 

and I know that you could technically use the CSP for hotels, flights and prettty much everything travel related but that's not the point. 

[Anonymous]

The chase trifecta is my ultimate goal for travel which would really cover most of my spend. However, I plan to keep an ihg or choice hotel card just because these are the brands i normally stay in, and the card would only be used if i didnt have UR points or was buying something while at the hotel. For cashback, im enjoying the simplisity of the quicksilver right now, but a citi double cash is my dream card in that category. Discover's a nice card too with the rotating categories.

In short, if i could only have three:

1) CSP since its only one card allowed but the freedom/freedom unlimited cards really compliment the CSP nicely.
2) IHG
3) Citi double cash

[jacetx]

1) Costco Visa (3% travel)

2) Amex Hilton Surpass (Gold status, 12x points per $) 

3) Penfed Power Cash Rewards (2% cashback posts as soon as the transaction clear and can redeem in $5 increments),

     Chase Amazon Prime Visa (5% on Amazon)

     Discover (5% rotating)

[galahad15]

(1)  FNBO Travelite Amex (3% on travel and 1.5% on everything else, $100 annual travel incidentals, no AF)

      BoA Travel Rewards VS

(2)  N/A (I don't currently have any hotel cards)

(3)  Cap1 NHM card (Venture-equivalent card with 2% cashback on all purchases, no miminum redemption)

      Citi DC

      FNBO BuckBack VS  (2% cashback on all purchases)

      US Bank Cash+ (for 5% cashback on ground travel purchases and cell phone bills)

      BoA Cash Rewards WMC

      BEFCU VISA  (cashback rewards program + low APR)

      PACU MC (~1.4% cashback on all purchases + low APR)

      FNBO Amex (1.5% cashback on all purchases + low APR)

      Blispay

      ETA:   my 2 BBRs

[Anonymous]

IMO, it makes little sense to do long-term planning for credit cards. 

1) Cards get nerfed, so today's great card might become "meh" or worse

2) New cards come along, which might be better than your current best-in-class

3) Your needs change over time, so what might be perfect now is no longer so useful (e.g. switching from frequent dining out to cooking at home, or vice versa, and change in travel frequency)

I think people should reevaluate the portfolio regularly, maybe yearly or so, or for addicts, more frequently.

And, as a combination of 1) and 2), if a "great" card comes out, it makes sense to get it early, so you get the most out of it before nerfing.  For example, Amex BCP and US Bank Cash + were AMAZING when they came out, but within a year or two became much less valuable.    So, my motto would be "If something seems too good to be true, after checking for catches, get it NOW!"

(IME, it's pretty rare for a card to get better.  Chase Amazon Visa is one recent example, and (maybe) changes to some Amex charge cards, although in that case, some of the AF increased. )

[Anonymous]

 1}   CSP / Freedom / FU

 2}   Hilton Honors

 3)   Amex BCE / Discover it

[happypill]

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@Anonymous wrote:

IMO, it makes little sense to do long-term planning for credit cards. 

1) Cards get nerfed, so today's great card might become "meh" or worse

2) New cards come along, which might be better than your current best-in-class

3) Your needs change over time, so what might be perfect now is no longer so useful (e.g. switching from frequent dining out to cooking at home, or vice versa, and change in travel frequency)

I think people should reevaluate the portfolio regularly, maybe yearly or so, or for addicts, more frequently.

And, as a combination of 1) and 2), if a "great" card comes out, it makes sense to get it early, so you get the most out of it before nerfing.  For example, Amex BCP and US Bank Cash + were AMAZING when they came out, but within a year or two became much less valuable.    So, my motto would be "If something seems too good to be true, after checking for catches, get it NOW!"

(IME, it's pretty rare for a card to get better.  Chase Amazon Visa is one recent example, and (maybe) changes to some Amex charge cards, although in that case, some of the AF increased. )

---

Spot on as usual.

I do have some suggestions though.

1. SSFCU Power Travel if you can get it.  3.3% on travel, dining and gas.  It is geographically limited though, but it is awesome and hasn't changed in a long time.

2. BofA Travel Rewards.  2.625% on everything if you have the right relationship with BofA.

If you like cash back, that's it right there.  If you want to chase points or sign-on bonuses, there are a lot of other cards to consider.

[Blackswizz750]

I dont have any longterm cards at the moment. I really just use Discover IT, BCE, and my Amex Green for all the above right now. I get cash back from Disco and statement cash on the BCE, and the green I get points. Sometimes I use Capt1 QS. I just want to have cards to help me with daily spend and travel when I have to go somewhere. The environment for really good cards are shrinking as they get nerfed and benefits are reduced. I have about a dozen other cards but these three are the most used. 

[Anonymous]

I’d like a Freedom unlimited to go with my CSP to keep long term. If my discover card ever unsecures than that takes care of rotating categories as well. I’m just not using the BCE much I’ve been putting most of my spend on the CSP.

I’d be happy with those three forever, but I’m not huge on apping so I’m sure there are better choices haha.

[Anonymous]

Interesting answers, and I agree that products change over time and that you need to upgrade your portfolio or every now and then but I'm guessing cards like the IT and Freedom will not change all that much...

Also I saw the Hilton honors mentions twice I thought it was a meh card since the points aren't really worth that much??? Or am I wrong?