Maximize my Lineup

[Anonymous]

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@Lymin wrote:
Well laid out. Thank you.

How would I best go about changing my QS1 over? I have been reading around and couldn't find a clear line if advice.

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Call or chat with Cap1 and ask if your account is eligible for an upgrade to the QS without an annual fee.

[Anonymous]

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@Lymin wrote:
Thanks for the recommendations I will look into that. I am definitely willing to try for the QS, though, I am not sure how to best go about that.

I don't know if I should push it with Chase since I had to recon just to get the CSP. I might wait a bit before trying for something else.

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It may be time to garden. See my previous post about upgrading from QS1 to QS. Good luck!

[Lymin]

Thanks BBP, I just gave them a ring and was given a very polite no. But I agree, gardening is all I am up for right now. It is the wisest thing to do.

[Anonymous]

i would look at themanwhocan's cash back charts and just compare for that.  And then regarding the travel cards.... you want to make sure your annual spending is enough for the annual fees.  And also too, if you do fly quite a bit, it will make less and less since to use the cash back cards so much aside from their category caps.

Is american your only airline?  Do you utilize chase UR transfer partners?

[Anonymous]

The only thing I dislike about credit is that it may give the consumer the illusion of having more spending power than they might actually have. They may purchase something at a higher price than if they only had cash. The purpose of these cash back rewards is only to encourage consumers to purchase more than they originally would have if they only had cash--the credit card company do offer very powerful products for their merchant, "How can I get my customers to purchase more than they usually would?"

[Anonymous]

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@Anonymous wrote:

The only thing I dislike about credit is that it may give the consumer the illusion of having more spending power than they might actually have. They may purchase something at a higher price than if they only had cash. The purpose of these cash back rewards is only to encourage consumers to purchase more than they originally would have if they only had access to cash--the credit card company do offer very powerful products for their merchant, "How can I get my customers to purchase more than they usually would?"

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Yes, there have been studies (albeit also criticized) showing people spend more with ccs than with cash, and I would think reward cards only increase that.  "Since I get 2% back, may as well buy 2" or "If I spend $1000 I'll get 30K points" etc

[Anonymous]

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@Anonymous wrote:

The only thing I dislike about credit is that it may give the consumer the illusion of having more spending power than they might actually have. They may purchase something at a higher price than if they only had cash. The purpose of these cash back rewards is only to encourage consumers to purchase more than they originally would have if they only had cash--the credit card company do offer very powerful products for their merchant, "How can I get my customers to purchase more than they usually would?"

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You sound like Dave Ramsey

[Lymin]

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@Anonymous wrote:

i would look at themanwhocan's cash back charts and just compare for that.  And then regarding the travel cards.... you want to make sure your annual spending is enough for the annual fees.  And also too, if you do fly quite a bit, it will make less and less since to use the cash back cards so much aside from their category caps.

Is american your only airline?  Do you utilize chase UR transfer partners?

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As far as airline cards go, yes American is all I have. I am moving to a city that is an AA hub, which is why I got it. I currently use the Suntrust Skymiles debit as I live at a Delta hub. For what I was able to access at the time, it has served me well. Though, I am excited for the bonus miles and other perks of having an airline card of an airline I know I will frequent. They will be great to have even if I don't use them all, as I haven't really needed them before.

As far as UR points, CSP is my first UR card so I have not used it enough to know how I will utilize it. But I anticipate it will complete the airline miles gap so I am covered at the big 3, Delta, AA, and United. After much thought I think the cards I will use the most daily are CSP, AMEX ED, and either Discover IT or QS1.

Thanks for the chart.

[kdm31091]

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@Anonymous wrote:

The only thing I dislike about credit is that it may give the consumer the illusion of having more spending power than they might actually have. They may purchase something at a higher price than if they only had cash. The purpose of these cash back rewards is only to encourage consumers to purchase more than they originally would have if they only had cash--the credit card company do offer very powerful products for their merchant, "How can I get my customers to purchase more than they usually would?"

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Totally agree, and I think this extends to the "special category" cards as well. We can just use Discover as an example since right now they're running 5%  back on dining (10% if you have the double promo). This 5-10% off provides a convenient excuse to do something you probably want to do anyway, i.e. eat out. So you end up spending more than you otherwise would, which means you are still falling for their scheme in the end. Same with the Apple Pay promo they did. Many admittted overspending to get the rewards, which is ultimately a losing proposition.

This also can apply to just generic category cards. Do you spend more if you have a special grocery store card? Even one extra impulse purchase can basically wipe out your rewards by being the same value.

None of this is to say I haven't fallen into these same patterns but I work hard to avoid it at this point. I will not let rewards or a bank in general dictate my spend.