Refreshing my lineup, have ideas but could use suggestions/other ideas

[mwarmor]

Been in the garden for a while and the “Setting your *2022* Card Strategy” thread motivated me to evaluate my lineup.

Current Active Lineup: Amex Blue Cash (1% general purpose), Discover It (5% rotator), Chase Freedom Unlimited (1.5% general/3% restaurants), Citi Double Cash (2%), and Huntington Voice (Used for Gas Rewards).
Cards I’m considering pruning: PSECU Classic (No benefits), PNC CashBuilder (Toy limit).
Additional card: BankAmericard Rewards - This is a card I share with my parents that I was attached to years ago to establish my credit. Gives tremendous age to my file.

Scores: 800+ across the board with no pulls in the last two years. I’m trying to avoid cards with annual fees as while I do spend, I don’t spend enough for fees. Also primarily looking for cash back/rewards cards.

Cards I’m thinking about:
Bank of America Customized Cash Rewards – I like the 3% category options, and the 2% cash back at wholesale clubs would be nice.
Amazon Prime Rewards – I like the 5% at Amazon.com because I do have Prime, but I’m not sure I’d be able to maximize my usage.
PNC Cash Rewards – I REALLY like the idea of this card (4% gas and 3% dining), but with PNC offering it I’m not sure it’s worth the pull. I do have a seldom used checking account with them and a PNC CashBuilder, but that card has a toy limit with only one CLI ever offered by them.

Citi Custom Cash Card – I like the 5% category offered even with it being only on the first $500 spent. My concern might be getting a toy limit at first, which happened with my Citi Double Cash.

Cards I’m not considering: U.S. Bank Cash+ and U.S. Bank Altitude Go (reward categories), along with several other 1.5% cards.

Possible Amex Product Change: Considering if a product change to Cash Magnet from my Amex Blue Cash is possible/worth it. This has been a very reliable card for me, but the rewards are not categories I really benefit from, or have other cards that are equal/better.

I’m open for suggestions and ideas.

[Relatxbles]

Not an expert by any means, but my S/O has both the PNC CashBuilder @ $80k and PNC CashRewards @$65k and swears by them. They are the only two cards she prefers to use and banks elsewhere.

She has gotten swift CLIs without requesting over the past 3-4 years. Hope this helps 

[jasonbourne84]

I know one of these technically has an annual fee, but hear me out, as I think these are the two strongest additions to your current lineup: 

1. Amex Blue Cash Preferred. The $95 annual fee is waived the first year. And, if you spend $3k in the first 6 months, you get a $300 SUB. That means you can have the card for four full years without actually having to pay for it. Meanwhile, here are the perks:

• 6% grocery (up to $6K, then 1%) (Note: I have quickly discovered that this includes liquor stores!)
• 6% streaming services (no cap)
• 3% gas (no cap)
• 3% all transit/rideshare (no cap)
• 1% back on all other purchases (no cap). 

2. Citi Custom Cash. A toy limit wouldn't be a big deal considering what you'd use it for - $500 monthly spend in the category of your choice.

Together, I think these are a powerful combo - especially on top of your Discover card and your other no annual fee cards. 

[jasonbourne84]

Oh - and I know you said your spend isn't high, but think of it this way. After that four years is up, even if you spend only $1600 a year on groceries/liquor, that alone pays for the annual fee. Everything else would be gravy.

[wasCB14]

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@jasonbourne84 wrote:

I know one of these technically has an annual fee, but hear me out, as I think these are the two strongest additions to your current lineup: 

1. Amex Blue Cash Preferred. The $95 annual fee is waived the first year. And, if you spend $3k in the first 6 months, you get a $300 SUB. That means you can have the card for four full years without actually having to pay for it. Meanwhile, here are the perks:

• 6% grocery (up to $6K, then 1%) (Note: I have quickly discovered that this includes liquor stores!)
• 6% streaming services (no cap)
• 3% gas (no cap)
• 3% all transit/rideshare (no cap)
• 1% back on all other purchases (no cap). 

2. Citi Custom Cash. A toy limit wouldn't be a big deal considering what you'd use it for - $500 monthly spend in the category of your choice.

Together, I think these are a powerful combo - especially on top of your Discover card and your other no annual fee cards. 

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Liquor stores will vary. Keep in mind the official 6% supermarket category is smaller than all groceries.

I've done the upgrade/downgrade cycle a few times...BCE-BCP-BCE-BCP and EDP-ED-EDP-ED. Good rewards for moderate spend and no new accounts.

[longtimelurker]

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@jasonbourne84 wrote:

Oh - and I know you said your spend isn't high, but think of it this way. After that four years is up, even if you spend only $1600 a year on groceries/liquor, that alone pays for the annual fee. Everything else would be gravy.

---

Looks like it's time for my PSAs.

1) Covering the annual fee is (almost) never the right goal.  Consider the dirt cheap LTL Bank Rewards++ card, annual fee of just $1  (Yes, that's right, just one dollar a year, less than 2c per week!!!!!!)  And it earns a 0.1% ON EVERY PURCHASE.   So, just a $1000 a year makes up for the annual fee, everything else is gravy.    Interested?    Moral: always consider alternatives, would another card that you could reasonably get earn you more?

2) Covers the AF for X years argument.   This also makes little sense.   Every time you are about to pay an AF, you should basically consider the moral of #1 Should I pay this fee or is there a better choice.   The SUB is yours to keep, no need to spend it down with AF if you don't have to.

Not that the Blue Cash Preferred is a bad card.   For some, it's good, for others, there are better choices, certainly after the first year with a fee waiver. But as @wasCB14 says, it is good for BCE-BCP-BCE loops, that's how I use it (as for me Chase Amazon at WholeFoods and USB Altitude Reserve are better at the grocery stores I use)

[FinStar]

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@longtimelurker wrote:

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@jasonbourne84 wrote:

Oh - and I know you said your spend isn't high, but think of it this way. After that four years is up, even if you spend only $1600 a year on groceries/liquor, that alone pays for the annual fee. Everything else would be gravy.

---

Looks like it's time for my PSAs.

1) Covering the annual fee is (almost) never the right goal.  Consider the dirt cheap LTL Bank Rewards++ card, annual fee of just $1  (Yes, that's right, just one dollar a year, less than 2c per week!!!!!!)  And it earns a 0.1% ON EVERY PURCHASE.   So, just a $1000 a year makes up for the annual fee, everything else is gravy.    Interested?    Moral: always consider alternatives, would another card that you could reasonably get earn you more?

2) Covers the AF for X years argument.   This also makes little sense.   Every time you are about to pay an AF, you should basically consider the moral of #1 Should I pay this fee or is there a better choice.   The SUB is yours to keep, no need to spend it down with AF if you don't have to.

Not that the Blue Cash Preferred is a bad card.   For some, it's good, for others, there are better choices, certainly after the first year with a fee waiver. But as @wasCB14 says, it is good for BCE-BCP-BCE loops, that's how I use it (as for me Chase Amazon at WholeFoods and USB Altitude Reserve are better at the grocery stores I use)

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You keep teasing me/us about this marvelous LTL Bank++ but we can never get to the app. Is it by invitation only? I don't recall, but it sounds lucrative. What are the average limits, if approved?  I'm assuming no FTF or AF? VI/WEMC? 

Asking for a friend.

On the topic regarding AFs, yes there's better alternatives if BCP is not the right fit (covering the AF shouldn't be a goal). I've done the same song and dance with BCE>BCP>BCE and ED>EDP>ED and for me it's sustainable with the right spend, but I wouldn't recommend it for someone who can find a better product w/o the AFs involved.

[jasonbourne84]

Of course covering the annual fee shouldn't be the goal. That's not my point, and I don't think that kind of tone is helpful nor welcoming to these types of discussions.

All I'm saying is that because of a combination of factors (especially b/c 6% is such an incredibly high CB rate), the fee is essentially non-existent for someone who spends even 1/3 of what the average family spends on groceries each year. Obviously OP and others need to decide if their spend above and beyond that is enough to make that breakpoint worth it. 

[jasonbourne84]

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@wasCB14 wrote:

---

@jasonbourne84 wrote:

I know one of these technically has an annual fee, but hear me out, as I think these are the two strongest additions to your current lineup: 

1. Amex Blue Cash Preferred. The $95 annual fee is waived the first year. And, if you spend $3k in the first 6 months, you get a $300 SUB. That means you can have the card for four full years without actually having to pay for it. Meanwhile, here are the perks:

• 6% grocery (up to $6K, then 1%) (Note: I have quickly discovered that this includes liquor stores!)
• 6% streaming services (no cap)
• 3% gas (no cap)
• 3% all transit/rideshare (no cap)
• 1% back on all other purchases (no cap). 

2. Citi Custom Cash. A toy limit wouldn't be a big deal considering what you'd use it for - $500 monthly spend in the category of your choice.

Together, I think these are a powerful combo - especially on top of your Discover card and your other no annual fee cards. 

---

Liquor stores will vary. Keep in mind the official 6% supermarket category is smaller than all groceries.

I've done the upgrade/downgrade cycle a few times...BCE-BCP-BCE-BCP and EDP-ED-EDP-ED. Good rewards for moderate spend and no new accounts.

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This is interesting. I thought there there was some sort of lookup tool online that allows you to see how stores are merchant categorized, but I can't seem to find it at the moment.  

[longtimelurker]

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@jasonbourne84 wrote:

Of course covering the annual fee shouldn't be the goal. That's not my point, and I don't think that kind of tone is helpful nor welcoming to these types of discussions.

All I'm saying is that because of a combination of factors (especially b/c 6% is such an incredibly high CB rate), the fee is essentially non-existent for someone who spends even 1/3 of what the average family spends on groceries each year. Obviously OP and others need to decide if their spend above and beyond that is enough to make that breakpoint worth it. 

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Sorry, it sounds as if that IS your point to some extent!  Referring again to a fee being essentially non-existent after a spend is again neglecting other options, which, on that same spend, could generate more net rewards.   It's not "above and beyond", it's also below.