What's your ideal CC portfolio?

[Anonymous]

I believe I'm all set with everything I want or need. If I end up travelling more in the future, something with lounge access and other travel perks like an AMEX Platinum may be worth it.. or if ever need to finance something, a store card such as Home Depot, Menards, Sears, Best Buy, etc may become useful.. But for now, my spending is covered to maximize rewards.. would like to see my two Citi cards CL increase so that if needed in the future I could put large travel expenses on Costco card and/or other large purchases on the DC while sticking below 10%util.. but un all reality my current lineup covers my needs..

PCM CU Platinum Rewards Mastercard
5% up to first 1k/mo on any purchase
(Use this for rent, utilities, and recurring bills.. just shy of 1k/mo)

Fleet Farm Visa Signature
4% back on everything at FF, including my ethanol free mid grade gas for my car (need mid grade and its the only place in town that sells it without ethanol)

AMEX Blue Cash Everyday
3% Groceries (when not a rotating category on other cards), AMEX offers, 'safety net' w/ high CL

Chase Freedom Visa Signature
Rotating 5% categories

Discover It
Rotating 5% categories

Costco Citi Visa Signature
4% fuel (for anything I dont need ethanol free)
3% Restaurants(when not rotating cat), Hotel, Airfare
2% Costco (when not rotating category)

Citi Double Cash World Elite Mastercard
2% Everything else

I'm 'in' with every network. 99% of spending is maximizing rewards.. I could afford to lose a couple cards and not be destroyed. If trying to optimize score for a mortgage or credit app, I could put all spending on AMEX and be at <9% Util on that card, 0% on the rest easy enough..

[RaiseMyScoreASAP]

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@galahad15 wrote:

J/c, why do you want to close the Cash+, since you have the two 5% cashback categories plus the one 2% cashback category?

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I am really into making travel enjoyable. I love nice hotels and the elite status. The cash backs don't really do it for me, but the US Bank Cash+ is a good one to have. (Who knows? Maybe soon I will be all about the cash back and won't care for the travel stuff!) I applied for that card for the 0% BT an got rejected. Then I received the card without the balance transfer rate and with only a $1,500 limit. So, it didn't work out the way I wanted, but I probbaly will keep it. I want to be able to fly to Europe in business class and have hotel upgrades. Am resarching and thinking more (probably WAY too much) about what cards I really do want. Finding that the ariline cards are not great miles earners and the only thing of possible value is the priority boarding. And can't you just buy that as needed? I value that if it is a long flight on a large airplane. Not as much on a smaller connection regional jet.

It's an ever changing journey!

[Anonymous]

^I also have no annual fees.. and my gf does most of the grocery shopping.. When its time to add her, may upgrade to BCP if it makes sense.

[RaiseMyScoreASAP]

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@Kevin86475391 wrote:

Interesting thread.

I'm exclusively a cash back person. I virtually never travel and have no desire to start. So that makes finding the best rewards cards fairly simple since I just look at what card will give me the best percent back in the areas I spend the most. i don't have to worry about trying to stay loyal to point programs like UR or MR, and I don't really care how long it takes to redeem my cash back (within reason), so I mostly ignore thresholds and don't worry about trying to consolidate my spending on one or two cards to redeem more quickly.

Anyway, the cards I have and will definitely keep are:

• Discover It & Freedom - For rotating 5% categories (Mostly dining, online shopping, and groceries. I have no use for their home improvement or gas quarters)
• Bank of America Cash Rewards - For 2% on groceries (when Discover and Freedom aren't doing higher redemptions) and rarely 3% gas (I buy virtually no gas and 3-6 months out of the year can typically do 5% with Discover or Freedom, but on those other occasions)
• Citi Double Cash - My original 2% on everything else rewards card
• Blispay - My now preferred 2% on everything else rewards card since I've never been overly fond of Citi, but I still mostly split the two.
• Target Redcard store card - For 5% at Target, where I shop quite a lot

Don't really need and will probably/may eventually close:

• Chase Sapphire Preferred - I honestly only got this for the attractive signup bonus, and still use it for 2% dining when Freedom and Discover aren't in category, but I obviously don't need it since I have other 2% options without an AF. I'll close it a bit before the AF is due.
• US Bank Cash Rewards - I seldom use this. I got it years ago thinking it would give me 3% back on Kroger-branded grocery items. Turns out I didn't read the fine print and the redemption rate essentially drops it down to 1.5% instead, which I have no use for. I've thought about PC-ing to the Cash+ and still may at some point, but I don't really need that either. Right now I keep it because it doesn't cost anything, is no trouble for me to monitor, and is my go-to "hmm, this merchant seems sketchy" card in case the info is stolen and the card needs to be replaced (because obviously I wouldn't really care if I didn't have this card for a few days or so while it's being replaced).

If Chase ever forces people to do a PC from the Freedom to the Freedom Unlimited I'll have no use for that card either. As long as it has rotating 5% I love it though. I'd happily get another 1-2 rotating 5% cards if they'd cover the other 2 or 3 quarters when restaurants, groceries, and online shipping/Amazon aren't covered by the Freedom and Discover It. I never have a reason to take 1-1.5% or less rewards though, so no Freedom Unlimited please!

I've thought about getting the Amex BCE in the past, but have decided against it. The extra grocery bonus I'd get is fairly negligible and I'm not that fond of Amex.

If a new 2% or higher 'everything card' came out, or a new rotating 5% card, I'd consider it if it fit my spending, but otherwise I'm set.

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The introduction of the Freedom Unlimited may be good for some people to add, but I can see you have no reason to have it. I really hope Chase is not wanting to phase out the Freedom. I like the rotating categories and the ability to build UR.

[galahad15]

For me, I am thinking about possibly closing out my Chase Freedom and Chase Slate, since I am not happy with the 20+% APRs on them, and as we all know, Chase doesn't budge on APR reductions.

My cards that I use on a regular basis fall basically into 2 camps:  low APR cards and rewards cards.

Low APR cards (for long-term usage/emergencies/revolving needs, where required or as-needed; fixed rates preferred):

(1)  FNBO Amex

(2)  Premier America Privileges Rewards MC

(3)  Barclay Ring

(4)  BoA Cash Rewards MC

(5)  Unify Fixed-Rate VISA

Rewards cards:

(1)  all four 2% cashback cards (Citi DC, Cap1 NHM MC, FNBO BucksBack VISA, and Blispay)

(2)  BBR

(3)  Cash+ VISA (for 5% cashback rewards categories)

(4)  Discover IT (for Cashback Match feature and BTs)

The only card I don't currently have but dream of is (as I mentioned earlier in another thread) is the Unify Variable-Rate VISA, as low as 4.99% V, which I plan to app for eventually in the next 1-2 years.

ETA:  adds/edits

[RaiseMyScoreASAP]

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@Gmood1 wrote:

My ideal portfolio is one where I don't have more than one or two cards with the same lender. Preferably one card per lender is the goal. Doubt I get there completely, since Chase has their hands in everyone's pot.lol

Diversifying is my goal.

Had US Bank and Barclay's..dropped like a bad habit.

Still have

Capital one

Blispay

Amex

BofA

Chase

PenFed

USAA 

Navy Fed

NASA Fed

Citi

FNBO

BBVA

Discover

Synchrony bank

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Good strategy. On my list, it does concern me that it has too much Chase in it. It seems that sometimes these companies will just close accounts for unknown reasons. If you don't diversify then OUCH.

One thing I am discovering is that I am trying to ignore the sign up bonus parts. So the question is would I want this card if it had no sign up bonus and what if the value of the benefits to ME. 

[Anonymous]

Galahad15- just looked up that Unify card.. Added that to the Radar.. Thanks! Will wait a couple years for my accounts to age, inquiries to drop, and score to rise.. want the best chance possible to get lowest APR possible with highest starting limit.. Would be a great sock drawer, emergency card... as most Ive seen with that low of APR generally have an Annual fee that makes hanging onto to it for possible future use less exciting

[RaiseMyScoreASAP]

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@galahad15 wrote:

For me, I am thinking about possibly closing out my Chase Freedom and Chase Slate, since I am not happy with the 20+% APRs on them, and as we all know, Chase doesn't budge on APR reductions.

My cards that I use on a regular basis fall basically into 2 camps:  low APR cards and rewards cards.

Low APR cards (for long-term usage/emergencies/revolving needs, where required or as-needed):

(1)  FNBO Amex

(2)  Premier America Privileges Rewards MC

(3)  Barclay Ring

(4)  BoA Cash Rewards MC

(5)  Unify Fixed-Rate VISA

Rewards cards:

(1)  all four 2% cashback cards (Citi DC, Cap1 NHM MC, FNBO BucksBack VISA, and Blispay)

(2)  BBR

(3)  Cash+ VISA (for 5% cashback rewards categories)

The only card I don't currently have but dream of is (as I mentioned earlier in another thread) is the Unify Variable-Rate VISA, as low as 4.99% V, which I plan to app for eventually in the next 1-2 years.

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Great selections. I had the Slate for a BT and when the interest kicked in a 23.24% it was a real eye opener. That is why I am resisting any applying for any new cards until I am pretty sure I will get the best rate. Even though ideally people shouldn't carry a balance well it happens. Then you are trapped. 

With Discover however I was really pleased that they were willing to offer an APR reduction--even gave me three different options. Besides Discover really does have the best customer service. Keeping Discover it--want diversity and maybe someday cash back will be more important than travel. Gotta keep this options open!

[galahad15]

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@Anonymous wrote:
Galahad15- just looked up that Unify card.. Added that to the Radar.. Thanks! Will wait a couple years for my accounts to age, inquiries to drop, and score to rise.. want the best chance possible to get lowest APR possible with highest starting limit.. Would be a great sock drawer, emergency card... as most Ive seen with that low of APR generally have an Annual fee that makes hanging onto to it for possible future use less exciting

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Anytime, glad to be able to help & good luck & best wishes!    One other caveat to be aware of for the Unify credit cards is, they pull EX FICO Score 2, not FICO Score 8.  According to the Unify bank rep I spoke with and applied for the current card I have with them, the FICO Score 2 scores needed to qualify for Unify's best rates are 740-750, just to try to give you an idea of what the score range they want is to get the best rates.

[galahad15]

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@RaiseMyScoreASAP wrote:

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@galahad15 wrote:

For me, I am thinking about possibly closing out my Chase Freedom and Chase Slate, since I am not happy with the 20+% APRs on them, and as we all know, Chase doesn't budge on APR reductions.

My cards that I use on a regular basis fall basically into 2 camps:  low APR cards and rewards cards.

Low APR cards (for long-term usage/emergencies/revolving needs, where required or as-needed):

(1)  FNBO Amex

(2)  Premier America Privileges Rewards MC

(3)  Barclay Ring

(4)  BoA Cash Rewards MC

(5)  Unify Fixed-Rate VISA

Rewards cards:

(1)  all four 2% cashback cards (Citi DC, Cap1 NHM MC, FNBO BucksBack VISA, and Blispay)

(2)  BBR

(3)  Cash+ VISA (for 5% cashback rewards categories)

The only card I don't currently have but dream of is (as I mentioned earlier in another thread) is the Unify Variable-Rate VISA, as low as 4.99% V, which I plan to app for eventually in the next 1-2 years.

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Great selections. I had the Slate for a BT and when the interest kicked in a 23.24% it was a real eye opener. That is why I am resisting any applying for any new cards until I am pretty sure I will get the best rate. Even though ideally people shouldn't carry a balance well it happens. Then you are trapped. 

With Discover however I was really pleased that they were willing to offer an APR reduction--even gave me three different options. Besides Discover really does have the best customer service. Keeping Discover it--want diversity and maybe someday cash back will be more important than travel. Gotta keep this options open!

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Same thing here for me as well about the Chase Slate go-to APR, had the same thing happen to me!    Hence the temptation for me to want to close it, lol.

Your cards are also very excellent and quite nice as well btw!   

ETA:  edits/corrections