@Anonymous wrote:
Hi everyone.
Here are my cards:
Chase Freedom
AMEX Blue cash
AMEX Gold
Citi Forward
Bestbuy MC
I want to use the cards as tools to maximize my rewards. I always PIF.
Forward only for dining out.
Bestbuy for their purchases only. I shop there a lot and cash in a certificate often. I have this card the longest.
Freedom for rotating catagories to maximize the 5% return. I have shopped through Chase for bonus rewards which is great.
Gold has been used for everything else, particularly big ticket items for warranty protection. (second longest card).
BLUE is new for me and I don't even have the card yet. I am starting to wonder why I even got it since I am not sure how to factor it in to my rotation yet. Everything seems to have a useful place, but I am not sure about this one.
Should I upgrade it to Blue Preferred?
I spend about $100 per week on gas and $400 per month on groceries.
I like that the regular BLUE has no annual fee, since Gold is $125 per year.
In the alternative, better to upgrade the GOLD card to premier rewards and leave BLUE alone?
With your grocery spend, Blue Cash Preferred is almost a no-brainer. BCP has a lower annual fee than either version of the Gold, and the 6% back on groceries outperforms not only the Golds but also the Blue Cash Everyday by more than you lose on the BCP annual fee. We had a fairly involved conversation on the BCP-BCED analysis a few weeks ago. Long story short, your $400/month in groceries makes BCP the winner over BCED even if you could have otherwise covered some of that grocery spend by your Freedom (if you did not have the BCP).
The slight wrinkle I see is your Gold card with its fee. It really does not have much going for on the rewards. Even BCED looks better than Gold or Gold Preferred (unless you spend a LOT on airfare, but then you would probably have said that). Other than possibly increasing your average account age, the Gold seems out of place in your lineup.
Also, I am assuming that your Blue Cash is the Everyday, since you got it recently. If it is the older Blue Cash with spending tiers, the overall conclusion is the same, unless you spend a lot in pharmacies, which you did not tell us.
