Maximize rewards by using different cards

[Anonymous]

So I understand you guys use different cards for different places to maximize your rewards ---- for example :

Credit Card 1 - good rewards for restaurants 

Credit Card 2 - good rewards for gas

Credit card 3 - good rewards for shopping

Credit Card 4 - good rewards for general spend

Lets say you use an app like Wallaby or you're just really good at remembering your rewards, how do you use your rewards since they're spaced out on different cards? Do you just wait til one card is eligible to be redeemed or do you combine the rewards onto one card?

[nachoslibres]

I use Barclaycard Arrival+ (which is essentially a cash back card since the miles are redeemed for a fixed amount), Chase UR (So Ink and Freedom combos), and Marriott points.

I put anything on my Chase cards that will earn me 2 UR/$ or greater because I value URs at $0.02/UR.  I will only use the Marriott card for Marriott stays because their points are generally valued at $0.005/point and so I earn about $0.025 per 1$ spent at Marriott (since you get 5 points/$ at Marriott with their card).  Everything else goes on the Arrival+ because it earns $0.0222 per 1$ spent.

So - to rank them:

1.  Chase purchases I earn a minimum $0.04 per 1$ spent (but this can be $0.10 per 1$ spent if it is a 5% category or even more if I can get more than $0.02/UR when redeeming them)

2.  Marriott purchases I earn $0.025 per 1$ spent but again this is only used for Marriott purchases

3.  Barclaycard Arrival+ puchases I earn $0.0222 per 1$ spent

To answer your question on how I use the rewards I'm basically saving my URs for international flights on United or for Hyatt stays.  I will also use them for Southwest flights occassionally.  For Marriott points I use those strictly for redeeming for free Marriott stays.  For the Arrival+ miles I use those to redeem against our Disney Cruise every year.

[Anonymous]

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@Anonymous wrote:

So I understand you guys use different cards for different places to maximize your rewards ---- for example :

Credit Card 1 - good rewards for restaurants 

Credit Card 2 - good rewards for gas

Credit card 3 - good rewards for shopping

Credit Card 4 - good rewards for general spend

Lets say you use an app like Wallaby or you're just really good at remembering your rewards, how do you use your rewards since they're spaced out on different cards? Do you just wait til one card is eligible to be redeemed or do you combine the rewards onto one card?

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Welcome to MYFICO..  For me, I wait till the card is eligible to be redeemed and then go ahead.  The way credit cards are you can't combine rewards to one card only with a few exceptions such as Barclays U.S Airways card and Citi AA (for miles).

[Anonymous]

Most cards don't have limits on when you can redeem. I tend to redeem every couple of months or so, and check on those with limits at the same time. 

[kdm31091]

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@Anonymous wrote:

So I understand you guys use different cards for different places to maximize your rewards ---- for example :

Credit Card 1 - good rewards for restaurants 

Credit Card 2 - good rewards for gas

Credit card 3 - good rewards for shopping

Credit Card 4 - good rewards for general spend

Lets say you use an app like Wallaby or you're just really good at remembering your rewards, how do you use your rewards since they're spaced out on different cards? Do you just wait til one card is eligible to be redeemed or do you combine the rewards onto one card?

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I'm not sure what you mean by "combine the rewards onto one card". You can't do that. Discover's rewards are on your Discover account. Capital One's are on that account. etc. There's no combining involved.

I tend to use them when there's something I want, either a gift card redemption, or just a statement credit if I want to buy something just for fun and get it for "free". I'm saving up my Quicksilver cash back all year to use against my Disney trip in October. Will be roughly ~$200 by then, better than nothing.

As far as your list, "good rewards for shopping" vs "good rewards for general spend" confuses me a bit. Are these not the same thing? There is no "shopping" reward category, I would think that would fall under general spend. Depends where you're shopping I suppose.

Welcome to myfico, by the way!

[Anonymous]

i use my amex for everything besides what is covered in the 5% category by chase freedom. so the rewards may be spaced, but over time it'll all come out fine. i literally have almost 700 points waiting for me on my next statement from chase and i barely spent over $100 lol. i will take my $7 thank you!

[jamesdwi]

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 Resturants   CSP/Sam's Club MC or freedom/discover depending on the month

Gas   BCP/Sallie Mae/Sams Club MC

Grocery Shopping  BCP/Fidelity AMEX/Venture/Freedom  (depens on store and catagorie spend and travel plans)

General spend  Fidelity/QSP/Venture

Books/Amazon  Amazon Store/Sallie Mae

Department Stores: BCP/CSP/Freedom

[red259]

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@Anonymous wrote:

So I understand you guys use different cards for different places to maximize your rewards ---- for example :

Credit Card 1 - good rewards for restaurants 

Credit Card 2 - good rewards for gas

Credit card 3 - good rewards for shopping

Credit Card 4 - good rewards for general spend

Lets say you use an app like Wallaby or you're just really good at remembering your rewards, how do you use your rewards since they're spaced out on different cards? Do you just wait til one card is eligible to be redeemed or do you combine the rewards onto one card?

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Well some cards generate the same points (freedom/ink/cs) and I combine all those points into the same program. In terms of how I redeem my rewards it depends on my need. For a bigger trip I may use points in different programs for different things. For example I use my AA miles for airfare, I use my Chase UR points for hyatt stays in conjunction with my hyatt card account points. I use my barclays cash back for rentals. Maybe I take some of my SPG points and use it to top of my AA account for a higher end redemption. Or for a smaller trip maybe I just need some points from one program. It all depends on my needs. It is important not to spread your spend out too much, otherwise you don't have enough points in any account to do anything. This is why I have certain cards in a SD and have my go to favorites to earn points in the program I want most. 

[Anonymous]

thanks for all the replies.  I was mainly curious if you'll wait for your Discover (example) rewards to rack up before you redeem your Discover card or if you guys somehow were able to combine all rewards onto one rewards program.

Because I rarely use my discover/capital one card but I use the heck out of my chase cards. Theres random rewards/miles on the discover and capital one card but not enough to really redeem.

[Anonymous]

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@Anonymous wrote:
i use my amex for everything besides what is covered in the 5% category by chase freedom. so the rewards may be spaced, but over time it'll all come out fine. i literally have almost 700 points waiting for me on my next statement from chase and i barely spent over $100 lol. i will take my $7 thank you!

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700 points are about $4.2 on Amex ED - 1p is 0.6c