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The “one of each” strategy?

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Super Contributor

Re: The “one of each” strategy?


@wasCB14 wrote:

@Saeren wrote:


It has all of the special protections and features of Amex-issued cards. 

 

https://www.americanexpress.com/us/network/navyfederal/morerewards/cardbenefits.html

 

I got it because I wanted a grocery spend card but if I get the Cash+ later this year, Cash+ will take over my BBVA’s category spend so I’ll make the BBVA my grocery card - if I don’t get the Cash+, I’ll go for the Bank of the West card. I don’t really like the minimum redemption on the More Rewards so I would rather either merge it with my Platinum or close it and open a new cashRewards for the SUB then get a Cash Magnet for a real Amex card. 


Compare the extended warranty terms.  NFCU Amex cards get up to one extra year, but Amex-issued cards get up to two extra years.

 

Delta Blue and the other five Amex-issued cards I checked:

https://www.americanexpress.com/us/credit-cards/card/delta-blue/?eep=25330

Did Your Warranty Run Out?♦︎

Why is it that as soon as a manufacturer's warranty runs out, something always seems to happen? When you use your American Express® Card for eligible purchases, you can get up to two extra years* added to the original manufacturer's warranty. Applies to warranties of 5 years or less. Please read important exclusions and restrictions.

 

NFCU (from your link):

Extends the terms of original manufacturers' warranties (of five years or less) on a covered product purchased entirely with the Card for a period of time equal to the duration of the original manufacturer's warranty, up to one additional year, on products purchased in the United States.

 

Or maybe you're right and your link is just out of date.


Nah I’m sure it’s just a year but at least it has it. Purchase protection as well. Better than nothing even if it doesn’t match what Amex would offer directly, the rewards scheme is not bad for a 3-2-1 card, especially having groceries and gas both as 3 points. Member Deals tosses a minimum of 1 extra point per dollar for most purchases online too. 

 

There are definitely perks to the card and I would use it more if it wasn’t for the $50 minimum AND $50 incremental redemption for cash back. I don’t have enough spend to really put this card to work though. One redemption a year is not appealing. 

 

It does put an Amex network card in my wallet though so there’s that. 




Message 11 of 44
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Super Contributor

Re: The “one of each” strategy?

Why stop at one of each ... I say at least 2 or 3 of each Smiley Happy


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Message 12 of 44
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Mega Contributor

Re: The “one of each” strategy?

You should certainly have at least one of V or MC as they are the most accepted, and then one of another type for network diversity.   If you often shop at a "restricted" place, such as Costco, you will know which one you need (until they change it).   But IMO the cards are more important then the network, so get an Amex, Discover, another MC or Visa if that card makes sense to you, don't feel the need to get all four, two is enough for this.   Issuer diversity is at least as important, so make sure you have cards from more than one place.

 

I remember someone here a while back saying that you absolutely need a card from each of the big banks, in case you needed a mortgage from one of them.   I disagreed then (and now!) but it's easy to fall into the trap of overdoing diversifaction for its own sake, and not making sure you have the cards that work for you.

Message 13 of 44
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Established Contributor

Re: The “one of each” strategy?


@JaseT wrote:

I've seen special promotions like "save $10 off $50 purchase using your Mastercard" so that's enough reason for me! Smiley LOL


This!  I just got a $100 on board credit for using my lone Mastercard on my upcoming cruise with Royal Caribbean.  That's like 10 drinks!



Message 14 of 44
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Community Leader
Mega Contributor

Re: The “one of each” strategy?

I just wanted one of each because I've never had all 4 at one time before. You seriously don't need all four "just in case". 







Message 15 of 44
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Established Contributor

Re: The “one of each” strategy?


@RobertJ wrote:

@JaseT wrote:

I've seen special promotions like "save $10 off $50 purchase using your Mastercard" so that's enough reason for me! Smiley LOL


This!  I just got a $100 on board credit for using my lone Mastercard on my upcoming cruise with Royal Caribbean.  That's like 10 drinks!


Don't fall overboard! Smiley Tongue


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Future Goal Cards: US Bank Cash +, Citi Double Cash, Discover It, BoA Cash Rewards, USAA Cashback Rewards Plus Amex
Message 16 of 44
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Established Contributor

Re: The “one of each” strategy?

I thought like this but after I got one on each network, it didn't matter anymore.
I carry at least one visa/mastercard and Amex or disco(for 5% categories)
Message 17 of 44
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Community Leader
Senior Contributor

Re: The “one of each” strategy?

I have AmEx and Disco, and all my others are MCs. I have a debit card on the Visa network. When I was just out of college I remember every card I ever saw advertised was a Visa, and now it seems like many more are MC. I would like to get a Visa to complete the quadfecta at some point though.


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Message 18 of 44
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Valued Contributor

Re: The “one of each” strategy?

For 20+ years I only had a Visa. ( Survived just fine)

I get cards for rewards, benefits and needing a few for credit scores.

I think it wise to have a Visa & MC, others optional.

If not for the way credit scores are calculated, I would just have a Visa and MC.

Nothing wrong with wanting/having all issuers or many cards, but sure not a necessity.

Never been told that I needed an Amex or Discover for payment.

 

 

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Message 19 of 44
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Community Leader
Senior Contributor

Re: The “one of each” strategy?


@longtimelurker wrote:

You should certainly have at least one of V or MC as they are the most accepted, and then one of another type for network diversity.   If you often shop at a "restricted" place, such as Costco, you will know which one you need (until they change it).   But IMO the cards are more important then the network, so get an Amex, Discover, another MC or Visa if that card makes sense to you, don't feel the need to get all four, two is enough for this.   Issuer diversity is at least as important, so make sure you have cards from more than one place.

 

I remember someone here a while back saying that you absolutely need a card from each of the big banks, in case you needed a mortgage from one of them.   I disagreed then (and now!) but it's easy to fall into the trap of overdoing diversifaction for its own sake, and not making sure you have the cards that work for you.


This is kind of how I see it too. MC and Visa are the “safest” options. 

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Message 20 of 44
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