What am I going to do :(

xgac12x · ‎10-12-2016

So I just thought about it. Once my Discover Miles 3.0% back on everything is up, it's gunna suck going back down to 2.0%. Going from a 10.2k card to $5.0k but I guess I can't really complain. Very grateful for my portfolio. REALLY holding back and using discipline to just go back to my DC rather than applying for something new and using it during promotion.

Have too many cards for my liking anyways haha.

Ps. Both of my Discovers will always stay open in my portfolio. That's a guarantee.

CARDS: CAPONEQUICKSILVERONE - $3,000.00

barthooper · ‎10-12-2016

I feel the same way about the 2% running out on my Discover It. Having my 1.5% through Quicksilver was great while it lasted, but now that I've gotten a taste of 2% minimum on everything for a year, I can't go back. Planning on getting Double Cash soon.

xgac12x · ‎10-12-2016

It's a great card. Mine started at $1,500 then went to $3,500 then to $5,000 now. This is my card I will use for general purchases (Discover It & Freedom for rotating) until I get the CSR or the next best thing in 2-3 years minimum.

CARDS: CAPONEQUICKSILVERONE - $3,000.00

longtimelurker · ‎10-12-2016

@xgac12x wrote:
So I just thought about it. Once my Discover Miles 3.0% back on everything is up, it's gunna suck going back down to 2.0%. Going from a 10.2k card to $5.0k but I guess I can't really complain. Very grateful for my portfolio. REALLY holding back and using discipline to just go back to my DC rather than applying for something new and using it during promotion.

Have too many cards for my liking anyways haha.

Ps. Both of my Discovers will always stay open in my portfolio. That's a guarantee.

I'm thinking of closing our Discover Miles cards at some point. This 1.5% with slightly less acceptance doesn't seem worthwhile. I do like the $30 airline credit per year but it's hard to remember to use an otherwise sockdrawed card for that.

Anonymous · ‎10-12-2016

I always treat bonuses as such- bonuses. It's a great one time perk that will expire and that I should be OK with the consistent rate going forward.

austinguy907 · ‎10-12-2016

How does your rewards changing from 3% to 2% change your CL? I'm confused here by these statements.

barthooper · ‎10-12-2016

@austinguy907 wrote:
How does your rewards changing from 3% to 2% change your CL? I'm confused here by these statements.

It's changing the card as well. Discover Miles will no longer be doubled from 1.5% to 3%, so OPs Citi DC will then beat 1.5% for non-category spend.

xgac12x · ‎10-12-2016

Well the reason I am going to keep it open would be for the credit line. My biggest line to date.

CARDS: CAPONEQUICKSILVERONE - $3,000.00

Anonymous · ‎10-13-2016

I am confused in comparing miles to straight cash back programs. if you want miles look for a program that offers good miles incentives. If you want maximum cash back, different ones for different spend profiles. Example Rotators don't bother me.

Anonymous · ‎10-13-2016

@xgac12x wrote:
So I just thought about it. Once my Discover Miles 3.0% back on everything is up, it's gunna suck going back down to 2.0%. Going from a 10.2k card to $5.0k but I guess I can't really complain. Very grateful for my portfolio. REALLY holding back and using discipline to just go back to my DC rather than applying for something new and using it during promotion.

Have too many cards for my liking anyways haha.

Ps. Both of my Discovers will always stay open in my portfolio. That's a guarantee.

Yeah, I faced the same angst when my Discover Miles reached its first anniversary in June. I do have a 2% Fidelity Visa, but that extra 1% seemed so lucrative! Came close to opening another Discover Miles for DW to get another year of Discover 3%. But I decided to keep that idea in reserve.

Instead, we went on a mini-spree to exploit some startup bonuses, any one of which returns more in value to us than an entire year on the Discover Miles (ymmv):

- Citi Aadvantage MasterCard (53k AA miles for $3k spending = ~17% CB equivalent)
- Capital One Venture ($400 travel credit for $3k spending = ~15% CB)
- Hilton Hhonors AmEx (75k Hilton points for $1k spending = ~25% CB)
- USBank FlexPerks Travel Rewards Visa (34800 points = $348 cash/$969 airfare for $2k spending = ~48% CB)

Also, several of our existing cards offered me targeted bonuses:
- Fidelity Visa ($100 for $2000 in spending = 7% CB)
- USBank FlexPerks Travel (2500 points for $1750 in spending = ~5% CB)
- CCU Visa ($10 for $100 in spending = 10% CB)
- AmEx Simply Cash Business card ($50 for $5000 in spending = ~3% CB, considering I'd have been putting $2,500 on that card anyway)

And ongoing, I'm planning to ride my CCU Visa credit card for the first $1k of spending each month, giving me 4.59% interest on $20k in my checking account (versus 3.09% on $10k and the rest in a 1% savings account) which, including the 1% the credit card offers each month, and factoring out income tax on the interest, amounts to an effective cashback rate of 3.76% on that $1k of spending.

I'll use the Fido Visa for 2% on whatever is leftover each month. But honestly, until the $1k/month CCU deal evaporates, I'm not seeing a crying need for a 3% card. After 5% category spending, $1k/month CCU, startup bonuses and targeted special offers, I don't think I'll see much left to put on an "everything else" card.

Chris.