Optimal Credit Card Lineup

[b1gr3dmachin3]

I saw a thread about your credit card lineup for 2014 and how everyone is best utilizing the cards they have to earn points/cash for different purchases. It got me thinking, if you had to rechoose all of your credit cards that you currently have and you were able to pick any card on the market, which cards would you choose for optimal cash back + rewards? Basically, which cards would you have have so that anytime you make a purchase you're earning the highest possible points or cash back for categories such as Gas, Travel, Groceries, Food, Movies, etc. Kind of like the all-star lineup for credit cards lol

[Themanwhocan]

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@b1gr3dmachin3 wrote:

I saw a thread about your credit card lineup for 2014 and how everyone is best utilizing the cards they have to earn points/cash for different purchases. It got me thinking, if you had to rechoose all of your credit cards that you currently have and you were able to pick any card on the market, which cards would you choose for optimal cash back + rewards? Basically, which cards would you have have so that anytime you make a purchase you're earning the highest possible points or cash back for categories such as Gas, Travel, Groceries, Food, Movies, etc. Kind of like the all-star lineup for credit cards lol

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Well, the priceline.com 2% card is no longer available, so swap that with the Fidelity Amex, and ditch the BCE, and basically the cards in my signature would be a good starter set for cash back. Add Bank of America better Balance Rewards (high return if used for a small recurring charge). Add Citi Dividend for no particular reason. Get a Huntington Voice if you can.

Thats about it for top cash back cards right now. Oh, someone will mention the Marukai JCB card, so it might as well be me...

If you qualify for business cards, add Chase Business Ink Cash

[b1gr3dmachin3]

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@Themanwhocan wrote:

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@b1gr3dmachin3 wrote:

I saw a thread about your credit card lineup for 2014 and how everyone is best utilizing the cards they have to earn points/cash for different purchases. It got me thinking, if you had to rechoose all of your credit cards that you currently have and you were able to pick any card on the market, which cards would you choose for optimal cash back + rewards? Basically, which cards would you have have so that anytime you make a purchase you're earning the highest possible points or cash back for categories such as Gas, Travel, Groceries, Food, Movies, etc. Kind of like the all-star lineup for credit cards lol

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Well, the priceline.com 2% card is no longer available, so swap that with the Fidelity Amex, and ditch the BCE, and basically the cards in my signature would be a good starter set for cash back. Add Bank of America better Balance Rewards (high return if used for a small recurring charge). Add Citi Dividend for no particular reason. Get a Huntington Voice if you can.

Thats about it for top cash back cards right now. Oh, someone will mention the Marukai JCB card, so it might as well be me...

If you qualify for business cards, add Chase Business Ink Cash

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Never heard of the huntington voice or marukai jcb cards....

[daybreakgonesXe]

I actually made my own google doc on it :X don't plan on applying for a while, but if i had to rechoose...

Chase Freedom - 5x rotating categories on up to $1500 per quarter (since I have chase checking, it actually equates to 5.5%)

Discover IT - 5x rotating categories on up to $1500 per quarter

GM Card - 5x on all purchases, up to $5000 a year; after that, 2x. go-to card for all purchases outside of 5x categories, or if i hit 5k cap, all purchases outside of 2x. redeemable for new GM vehicles

Better Balance Rewards - essentially, a free $120 dollars cash back per year for paying the minimum or greater each month, with checking account

BCP - 6x on groceries (up to $6k annually)

Cash+ - 5x rotating categories that i pick each quarter, up to $2k per quarter. obviously would pick categories that are not in my 5x line-up each quarter

Sallie Mae - 5x on groceries (up to $250 per month) if BCP is maxed, 5x on book purchases (including Amazon, up to $750 per month)

Fort Knox - 5x on gas, no cap that i see.

Ink Bold or Ink Plus - mostly for sign-up bonus and transfer w/ MR. 5x on office supplies, cell phone, landline, internet, and cable TV, up to $50k a year. 2x on hotels booked directly, if needed.

Upromise - 5x on eligible online shopping (thats on top of the points already offered, resulting in potentially 10%+ in rewards), 4x on upromise restaurants (if there's no 5x rotating category), 2% at movie theaters

Dividend - 5x rotating categories

Huntington Voice - 3x category that i pick per quarter, up to $2k

bolded items indicate cards with annual fees, so when i'm living on my own and/or eventually have a family, i'd have to weigh whether or not my spending justifies the card before applying. if i can't make 2x the annual fee on it, it's not a card worth having (or keeping, if my situation changes) in my line-up.

Also, the TD and Wells Fargo 5x for 6 months card are always an option if I notice I max out certain categories and would like to further maximize my rewards.

[Fico2Go]

I've also been on a journey to understand which product offers the best rewards and cashback value. Unfortunately some products are prohibitive to some due to difficulty of qualification and scoring requirement.

If I had to make a blank statement on whats best would go with any product that offer at least 3% cash or rewards is good.

I would also look for rewards or cashback in categories that most fit your lifestyle. You dont want to have to shuffle between cards everytime you are the cashier.

[Anonymous]

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@daybreakgonesXe wrote:

I actually made my own google doc on it :X don't plan on applying for a while, but if i had to rechoose...

Chase Freedom - 5x rotating categories on up to $1500 per quarter (since I have chase checking, it actually equates to 5.5%)

Discover IT - 5x rotating categories on up to $1500 per quarter

GM Card - 5x on all purchases, up to $5000 a year; after that, 2x. go-to card for all purchases outside of 5x categories, or if i hit 5k cap, all purchases outside of 2x. redeemable for new GM vehicles

Better Balance Rewards - essentially, a free $120 dollars cash back per year for paying the minimum or greater each month, with checking account

BCP - 6x on groceries (up to $6k annually)

Cash+ - 5x rotating categories that i pick each month, up to $2k per quarter. obviously would pick categories that are not in my 5x line-up each month

Sallie Mae - 5x on groceries (up to $250 per month) if BCP is maxed, 5x on book purchases (including Amazon, up to $750 per month)

Fort Knox - 5x on gas, no cap that i see.

Ink Bold or Ink Plus - mostly for sign-up bonus and transfer w/ MR. 5x on office supplies, cell phone, landline, internet, and cable TV, up to $50k a year. 2x on hotels booked directly, if needed.

Upromise - 5x on eligible online shopping (thats on top of the points already offered, resulting in potentially 10%+ in rewards), 4x on upromise restaurants (if there's no 5x rotating category), 2% at movie theaters

Dividend - 5x rotating categories

Huntington Voice - 3x category that i pick per quarter, up to $2k

bolded items indicate cards with annual fees, so when i'm living on my own and/or eventually have a family, i'd have to weigh whether or not my spending justifies the card before applying. if i can't make 2x the annual fee on it, it's not a card worth having (or keeping, if my situation changes) in my line-up.

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One correction, you pick Cash Plus categories on a quarterly basis, not monthly.

GM card is an interesting choice, obviously you need to committed to purchasing a GM vehicle to use this.   Note that the 5x up to $5000, while on everything, is less than Freedom and IT etc, which go up to $6000, and Voice and Cash Plus, which go to $8K.  Of course, with all purchases counting, it will be much easier to maximize the reward.

And since you have it, must give a plug for the TD Bank card.   Outstanding rewards for 6 months, and you can apparently close it and get another after 3 months, so a couple could have one active all the time.   With uncapped 5% on groceries, gas, utilities and dining, this is hard to beat.

[takeshi74]

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@b1gr3dmachin3 wrote:

It got me thinking, if you had to rechoose all of your credit cards that you currently have and you were able to pick any card on the market, which cards would you choose for optimal cash back + rewards? Basically, which cards would you have have so that anytime you make a purchase you're earning the highest possible points or cash back for categories such as Gas, Travel, Groceries, Food, Movies, etc. 

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2013 has been my overhauling year so I wouldn't change anything.  It's not always just about the rewards either.  I have the UMPE mainly for United flight benefits and I got the TE mainly for no fee (already paying for Costco membership anyway) backdating.  CSP doesn't have the absolute best rewards rate on dining but it's still very useful to me and dining for the CSP includes some stuff that others do not.  Two other cards aren't kept for rewards at all but they're my oldest cards with no AF's and low APR's.

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@Fico2Go wrote:
You dont want to have to shuffle between cards everytime you are the cashier.

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I'm never the cashier. 

[daybreakgonesXe]

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@Anonymous wrote:

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@daybreakgonesXe wrote:

I actually made my own google doc on it :X don't plan on applying for a while, but if i had to rechoose...

Chase Freedom - 5x rotating categories on up to $1500 per quarter (since I have chase checking, it actually equates to 5.5%)

Discover IT - 5x rotating categories on up to $1500 per quarter

GM Card - 5x on all purchases, up to $5000 a year; after that, 2x. go-to card for all purchases outside of 5x categories, or if i hit 5k cap, all purchases outside of 2x. redeemable for new GM vehicles

Better Balance Rewards - essentially, a free $120 dollars cash back per year for paying the minimum or greater each month, with checking account

BCP - 6x on groceries (up to $6k annually)

Cash+ - 5x rotating categories that i pick each month, up to $2k per quarter. obviously would pick categories that are not in my 5x line-up each month

Sallie Mae - 5x on groceries (up to $250 per month) if BCP is maxed, 5x on book purchases (including Amazon, up to $750 per month)

Fort Knox - 5x on gas, no cap that i see.

Ink Bold or Ink Plus - mostly for sign-up bonus and transfer w/ MR. 5x on office supplies, cell phone, landline, internet, and cable TV, up to $50k a year. 2x on hotels booked directly, if needed.

Upromise - 5x on eligible online shopping (thats on top of the points already offered, resulting in potentially 10%+ in rewards), 4x on upromise restaurants (if there's no 5x rotating category), 2% at movie theaters

Dividend - 5x rotating categories

Huntington Voice - 3x category that i pick per quarter, up to $2k

bolded items indicate cards with annual fees, so when i'm living on my own and/or eventually have a family, i'd have to weigh whether or not my spending justifies the card before applying. if i can't make 2x the annual fee on it, it's not a card worth having (or keeping, if my situation changes) in my line-up.

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One correction, you pick Cash Plus categories on a quarterly basis, not monthly.

GM card is an interesting choice, obviously you need to committed to purchasing a GM vehicle to use this.   Note that the 5x up to $5000, while on everything, is less than Freedom and IT etc, which go up to $6000, and Voice and Cash Plus, which go to $8K.  Of course, with all purchases counting, it will be much easier to maximize the reward.

And since you have it, must give a plug for the TD Bank card.   Outstanding rewards for 6 months, and you can apparently close it and get another after 3 months, so a couple could have one active all the time.   With uncapped 5% on groceries, gas, utilities and dining, this is hard to beat.

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longtime,

thanks for correcting my post! i shall edit! and indeed, the TD Bank and Wells Fargo cards with 5x categories for uncapped 6 months are always an option!

I'll have to see if i ever bust through the caps on groceries, gas, utilities, and dining each year, then utilizing the TD and Wells every so often would be worth it!

[Feather_Hat]

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@Themanwhocan wrote:

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@b1gr3dmachin3 wrote:

I saw a thread about your credit card lineup for 2014 and how everyone is best utilizing the cards they have to earn points/cash for different purchases. It got me thinking, if you had to rechoose all of your credit cards that you currently have and you were able to pick any card on the market, which cards would you choose for optimal cash back + rewards? Basically, which cards would you have have so that anytime you make a purchase you're earning the highest possible points or cash back for categories such as Gas, Travel, Groceries, Food, Movies, etc. Kind of like the all-star lineup for credit cards lol

---

Well, the priceline.com 2% card is no longer available, so swap that with the Fidelity Amex, and ditch the BCE, and basically the cards in my signature would be a good starter set for cash back. Add Bank of America better Balance Rewards (high return if used for a small recurring charge). Add Citi Dividend for no particular reason. Get a Huntington Voice if you can.

Thats about it for top cash back cards right now. Oh, someone will mention the Marukai JCB card, so it might as well be me...

If you qualify for business cards, add Chase Business Ink Cash

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i dunno why but that made me laugh so hard lol

[MACFRME]

The only other cards I would like to add to my portfolio are below. I have almost all the ones I want right now. Fidelity AmEx - 2% cash back on everything. Barclay's Arrival - 2 points on everything, probably wouldn't though because Barclay's is too paranoid for me. There needs to be a card that gives 5% back at drug stores all the time! I spend a lot at Walgreens, LOL.