What do you all think of my credit card usage plan?

[Anonymous]

This is how I'm thinking of using my credit cards, what do you all think? I prefer to only hold three cards on me at all times, if you know any better deals let me know!

Rotating: Discover It

Vacations: Chase Sapphire Reserve

Everything else/Grocery:      

• Bankamericard             1.1%/2.2%     = $92 (assuming I'll be a BOA checking customer)
• Blue Cash Preferred    1.0%/6.0%    = $85.0 (minus $95 annual fee)
• Quicksilver                     1.5%               = $90
• Citi Double Cash          2.0%               = $120 (seems like the best deal, worth it?)

*Based on spending about $3600 in everthing else and $2400 on groceries

Cards that I leave locked up somewhere:

Gas: Fort Knox Credit Union Platinum Visa

Amazon: Amazon Store Card

Uber: Capital One (My first credit card, need to use it for something)

[Anonymous]

Don't forget about the $100 bonus with the quicksilver. You would have to spend 20K with double cash first year to beat QS. I went for quicksilver first. Double cash took multiple recons and was difficult to get too. Sounds like you already have both though.

[Anonymous]

Yep I already have the quicksilver, and I don't Citi Double Cash yet, I'm hoping to use these cards for very very long term use. 

[itgirl74]

Don't miss out on this quarter's 5% cash back on Uber with Disocver just to make use of your Capital One card. CO will let a card go unused for a long time before cancelling it.

[Anonymous]

Thanks! I'll only be using Cap 1 for Uber when Discover doesn't have it. But I won't be getting the Discover for a few more months so I'm sol in the meantime.

[longtimelurker]

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@Anonymous wrote:

Yep I already have the quicksilver, and I don't Citi Double Cash yet, I'm hoping to use these cards for very very long term use. 

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Each to their own etc, but planning for very long term use (and especially very very long term!) doesn't always make a whole lot of sense.   The environment is somewhat dynamic

1) Cards get nerfed

2) New cards come along

3) Your needs change

so IMO starting out with "This card is a keeper" may make it harder to realize the time has come for a change.   I would reevaluate a cc portfolio at least as often as considering if you need a new phone or computer.

[NRB525]

So you don't have the Discover yet? 

Dont have a Freedom with the 5 UR categories?

The CSR, with minimum 1.5c redemption rate makes those UR points look pretty good. 

[Anonymous]

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@longtimelurker wrote:

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@Anonymous wrote:

Yep I already have the quicksilver, and I don't Citi Double Cash yet, I'm hoping to use these cards for very very long term use. 

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Each to their own etc, but planning for very long term use (and especially very very long term!) doesn't always make a whole lot of sense.   The environment is somewhat dynamic

1) Cards get nerfed

2) New cards come along

3) Your needs change

so IMO starting out with "This card is a keeper" may make it harder to realize the time has come for a change.   I would reevaluate a cc portfolio at least as often as considering if you need a new phone or computer.

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As often as I need a new phone? Mine is almost four years old now lol, but still I see your point. What I ultimately mean is I don't get new cards, or care to very often, so I'm hoping these are the best in their categories atm.

[longtimelurker]

If groceries are $2,400 a year, the BCE is probably a little better than the BCP.

BCE earns $72, BCP earns $144 - $95 = $49.   Since you have a better gas card, the difference there doesn't matter, so it's whether the extra 1% on "select department stores" is significant (needs $2300 spending there)

[Chris679]

For me using more than three cards is too much of a pain. On top of that it takes too long to accumulate any substantial rewards. I always carry the three most useful cards on me, keep the rest in the sock drawer.