Seeking advice on which credit cards to target

kierkegaard · ‎05-28-2022

Hi All,

Recently realized I'm passing on opportunities to take advantage of SUBs, cash back, and travel rewards by not really educating myself on which credit cards are out there and how I can use them to maximize gains/benefits for myself. I'm financially prudent, save most of my income, and don't carry a balance; that said, most of what I do spend revolves around dining out/delivery, groceries, home improvement costs, and travel (usually 2 international and 4-6ish domestic trips a year), and I'm looking to find the ideal combination of cards that make the most sense considering my spending habits and lifestyle. I'll include some details since I do have some open credit lines already:

Chase Sapphire Preferred, $18.4k CL: I was just approved for this and don't even have the card in the mail yet!
Capital One QuickSilver One, $1.8k CL: this is an old account, I have some autopay bills going here now (mostly streaming and Spotify)
AmEx Cash Magnet, $18k CL: AmEx offers come in handy sometimes but this is another I use sparingly and have some bills autopaying with, had this account about 2-3 years and got a hefty CLI about 3 months after opening
Discover It, $14k CL: the 5% rotating categories are great and this is my go to for spending within the quarterly category

My scores across all 3 bureaus are 740+, my only recent line of new credit is the Chase card which hasn't been reported yet, and I only have 2 hard inquiries in the last 2 years (1 in last month w/ Chase, other was about 2 years ago)

Some cards I've been considering:

AmEx Platinum: am pre-approved, love all the travel benefits, would have no problem meeting the SUB, but am not sure the amount of travel I do makes it worthwhile for me to hold (open to feedback here!)
AmEx Gold: also pre-approved but feel it duplicates what I'm already accomplishing with the Chase Sapphire Preferred I was just approved for
The host of cards that offer 5% cash-back in flexible spending categories: these seem great because I spend here in the specific ways my other cards don't give me the greatest rewards for, having 1-2 of these seems advantageous for my consumer profile but I'm not sure I have a preference on which (Chase, Citi, etc)

Anyways, would love recommendations as I try to diversify my credit profile and get more value for the money I spend. Pease let me know your thoughts/questions and appreciate your help in advance!

Hoben02 · ‎05-28-2022

Run the site awardhacker.com to get an idea if mr points will be useful. I don't know if the carrying cost of the annual fee for Amex -Latium is worth it for that amount of travel

Chase (CSP,CF,CFU,southwest premier)
Barclay(jetblue, arrival)
Bofa(US pride, premium, travel, cash, Suzy komen)
Citi(Premier, Double cash, Costco)
Fnbo(Mlife)
Amex(everyday, cash, Hilton)
Blockfi
Caesars rewards
Sofi
Gemini
Cap One Savor One

kierkegaard · ‎05-28-2022

Thanks! It looks like most of the routes I would take would be covered and somewhat generously at that. At what point do I consider the threshold for the reward worth the expense? Where I get caught up is in whether my future spending will render the card useful for me...the SUB in the first year along with the benefits would be great and more than offset the cost of the AF, but the fact the main rewards category requires spending on travel specifically and I only travel a handful of times a year makes me think I might be wondering why I have it in Years 2 on.

Thankfully, most of the rewards are relevant to my consumer profile as well (hotel expenses, digital entertainment credit, Walmart+ credit, some of the Global Lounges are on the routes I regularly take, Uber Cash, CLEAR, Airline Fees). These alone make the card worth holding IMO but there's always the risk of them nerfing / adjusting these later on.

Hoben02 · ‎05-28-2022

Just do a google search on breakeven for credit card

https://upgradedpoints.com/credit-cards/credit-card-annual-fee-break-even-spending-guide/

Chase (CSP,CF,CFU,southwest premier)
Barclay(jetblue, arrival)
Bofa(US pride, premium, travel, cash, Suzy komen)
Citi(Premier, Double cash, Costco)
Fnbo(Mlife)
Amex(everyday, cash, Hilton)
Blockfi
Caesars rewards
Sofi
Gemini
Cap One Savor One

DSTforlife · ‎05-28-2022

It really depends on your preference and if there's a specific airline you use.

For example, my family and I fly delta almost exclusively and use Amex cards. I have the Delta Platinum card for the companion ticket, and use the Amex Gold charge card for daily use. We are a family of 4 and between the 4x groceries and dining, I rack up the MR points. Yes, they both have $250 annual fee, but with the Gold, there's no annual fee for AU's (I have the family as AUs on this card), and the $250 for the platinum is worth it to me for the companion ticket. We run about 2k monthly through the card and those points add up quickly. It's not unusual for us to fly as a family for the price of one airline ticket.

which cards to get truly depends on your lifestyle and preferences.

kierkegaard · ‎05-28-2022

thank you for the input!

SouthJamaica · ‎05-28-2022

@kierkegaard wrote:
Hi All,

Recently realized I'm passing on opportunities to take advantage of SUBs, cash back, and travel rewards by not really educating myself on which credit cards are out there and how I can use them to maximize gains/benefits for myself. I'm financially prudent, save most of my income, and don't carry a balance; that said, most of what I do spend revolves around dining out/delivery, groceries, home improvement costs, and travel (usually 2 international and 4-6ish domestic trips a year), and I'm looking to find the ideal combination of cards that make the most sense considering my spending habits and lifestyle. I'll include some details since I do have some open credit lines already:

Chase Sapphire Preferred, $18.4k CL: I was just approved for this and don't even have the card in the mail yet!
Capital One QuickSilver One, $1.8k CL: this is an old account, I have some autopay bills going here now (mostly streaming and Spotify)
AmEx Cash Magnet, $18k CL: AmEx offers come in handy sometimes but this is another I use sparingly and have some bills autopaying with, had this account about 2-3 years and got a hefty CLI about 3 months after opening
Discover It, $14k CL: the 5% rotating categories are great and this is my go to for spending within the quarterly category
My scores across all 3 bureaus are 740+, my only recent line of new credit is the Chase card which hasn't been reported yet, and I only have 2 hard inquiries in the last 2 years (1 in last month w/ Chase, other was about 2 years ago)

Some cards I've been considering:

AmEx Platinum: am pre-approved, love all the travel benefits, would have no problem meeting the SUB, but am not sure the amount of travel I do makes it worthwhile for me to hold (open to feedback here!)
AmEx Gold: also pre-approved but feel it duplicates what I'm already accomplishing with the Chase Sapphire Preferred I was just approved for
The host of cards that offer 5% cash-back in flexible spending categories: these seem great because I spend here in the specific ways my other cards don't give me the greatest rewards for, having 1-2 of these seems advantageous for my consumer profile but I'm not sure I have a preference on which (Chase, Citi, etc)
Anyways, would love recommendations as I try to diversify my credit profile and get more value for the money I spend. Pease let me know your thoughts/questions and appreciate your help in advance!

Seems to me you have a pretty good lineup already for what you need. If I were going to add one, I'd think of adding a Citi Premier or Custom Cash, or a flat 2% cashback card like Citi Double Cash, PenFed Power Cash, SoFi, or FNBO Evergreen.