You can only downgrade to a Green card. Blue is not a downgrade option for the Gold card.
What's in your wallet? [credit card strategy]
Re: What's in your wallet? [credit card strategy]
Re: What's in your wallet? [credit card strategy]
Amex Schwab Platinum (5.5% cash back flights/hotels)
Amex Rose Gold (4.4% restaurants/groceries)
BofA Unlimited Cash Rewards (2.62% everything)
Amex Rose Gold (4.4% restaurants/groceries)
BofA Unlimited Cash Rewards (2.62% everything)
Last edited by 100nanos on Wed Dec 08, 2021 1:06 am, edited 3 times in total.
- ResearchMed
- Posts: 16795
- Joined: Fri Dec 26, 2008 10:25 pm
Re: What's in your wallet? [credit card strategy]
If only we could make our mortgage payments with a charge card. We'd be swimming in points!Lyrrad wrote: ↑Tue Dec 07, 2021 11:10 amMy biggest expense is rent, and I’m able to get an average of an extra 2.5% or more back of what I pay in rent over a simple 2% back credit card without much effort other than manual online credit card payments each month.calmaniac wrote: ↑Tue Dec 07, 2021 7:23 am The Boglehead Principle #9 Invest with simplicity doesn't apply to credit card simplicity?
What is the return for all of these credit card machinations? I love the idea of "free money", but on the other hand know that there is always a cost (time & energy of keeping track of multiple credit cards and potential charges for mistakes). Interested in how people analyze the utility of these approaches.
Quarterly categories and bonus categories on other credit cards are worth another several hundred dollars a year.
I haven’t been doing signup bonuses as often in the past few years, but those can be worth another several hundred or more.
In the past decade, I’ve probably averaged a net benefit of a few thousand dollars a year on top of what a 2% cash back card would return.
RM
This signature is a placebo. You are in the control group.
Re: What's in your wallet? [credit card strategy]
I just have to laugh when folks with credit card or boarding pass information in their phone go to use it, find their phone battery is down, and they are directed to step aside while they solve their unavailable information situation.H-Town wrote: ↑Tue Dec 07, 2021 10:03 am- Why would you carry Amazon Prime in your wallet if you only use the card on Amazon.com?Bigt3142 wrote: ↑Mon Dec 06, 2021 10:47 am Wondering what your credit card strategies are to see if mine can be improved. I know there are several posts about this but I thought it would be good to aggregate it in one location for anyone interested. What do you use, what do you have, and what is your strategy?
I'll start:
Main Card: Delta Platinum - Use this for almost everything to get more skymiles on the airline I use most. Also like the free companion flight every year.
Secondary: Citi Double Cash - Use this whenever my AMEX isn't accepted for the 2% cash back. This may become my main card when I get "enough" miles.
Specific Use: IHG Premier Card - I travel a lot for work and use this at IHG hotels for the points and free night every year.
Amazon Prime - I use this for Amazon purchases for the 5% cash back.
Others I have that I don't carry:
Credit Union 2% cash back - didn't like that they never send me a statement or tell me how much cash back I have available.
Fidelity 2% cash back - Limited to fidelity investments. I wanted to travel more so I don't use this much anymore.
US Bank Card - Got this for gas discount. It did not provide the discounts it advertised.
Chase Sapphire Reserve - Got this card for the 100,000 points. I don't use their partner airlines so it doesn't have much value to me. Will downgrade to freedom before the renewal fee.
- Many gas stations have its app (Shell, Exxon, BP, etc.) which you can pay from the app. So you don't have to carry a specific card to pay for gas.
- IHG allows you to save your IHG Premier card on file. Most hotels don't ask me for a physical credit card. They just confirm that I want to use the IHG Premier card on file.
- If you have an iPhone, use its wallet and Apple Pay. I think Android phone also has Google Pay?
- One should carry a health insurance card and/or emergency contact information in the wallet.
- One should carry small bills ($1, $5, and $20) in case you need it (valet, parking that not accept cards, tips, etc.)
- anon_investor
- Posts: 15122
- Joined: Mon Jun 03, 2019 1:43 pm
Re: What's in your wallet? [credit card strategy]
If a BH ever cracks that code...ResearchMed wrote: ↑Tue Dec 07, 2021 10:35 pmIf only we could make our mortgage payments with a charge card. We'd be swimming in points!Lyrrad wrote: ↑Tue Dec 07, 2021 11:10 amMy biggest expense is rent, and I’m able to get an average of an extra 2.5% or more back of what I pay in rent over a simple 2% back credit card without much effort other than manual online credit card payments each month.calmaniac wrote: ↑Tue Dec 07, 2021 7:23 am The Boglehead Principle #9 Invest with simplicity doesn't apply to credit card simplicity?
What is the return for all of these credit card machinations? I love the idea of "free money", but on the other hand know that there is always a cost (time & energy of keeping track of multiple credit cards and potential charges for mistakes). Interested in how people analyze the utility of these approaches.
Quarterly categories and bonus categories on other credit cards are worth another several hundred dollars a year.
I haven’t been doing signup bonuses as often in the past few years, but those can be worth another several hundred or more.
In the past decade, I’ve probably averaged a net benefit of a few thousand dollars a year on top of what a 2% cash back card would return.
RM
Re: What's in your wallet? [credit card strategy]
Plastiq.com (just be willing to add 2.85% fee)anon_investor wrote: ↑Tue Dec 07, 2021 10:52 pmIf a BH ever cracks that code...ResearchMed wrote: ↑Tue Dec 07, 2021 10:35 pmIf only we could make our mortgage payments with a charge card. We'd be swimming in points!Lyrrad wrote: ↑Tue Dec 07, 2021 11:10 amMy biggest expense is rent, and I’m able to get an average of an extra 2.5% or more back of what I pay in rent over a simple 2% back credit card without much effort other than manual online credit card payments each month.calmaniac wrote: ↑Tue Dec 07, 2021 7:23 am The Boglehead Principle #9 Invest with simplicity doesn't apply to credit card simplicity?
What is the return for all of these credit card machinations? I love the idea of "free money", but on the other hand know that there is always a cost (time & energy of keeping track of multiple credit cards and potential charges for mistakes). Interested in how people analyze the utility of these approaches.
Quarterly categories and bonus categories on other credit cards are worth another several hundred dollars a year.
I haven’t been doing signup bonuses as often in the past few years, but those can be worth another several hundred or more.
In the past decade, I’ve probably averaged a net benefit of a few thousand dollars a year on top of what a 2% cash back card would return.
RM
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
- anon_investor
- Posts: 15122
- Joined: Mon Jun 03, 2019 1:43 pm
Re: What's in your wallet? [credit card strategy]
I meant a practical hack! It has to be lower than 2.62% for it to be viable...JoMoney wrote: ↑Tue Dec 07, 2021 10:57 pmPlastiq.com (just be willing to add 2.85% fee)anon_investor wrote: ↑Tue Dec 07, 2021 10:52 pmIf a BH ever cracks that code...ResearchMed wrote: ↑Tue Dec 07, 2021 10:35 pmIf only we could make our mortgage payments with a charge card. We'd be swimming in points!Lyrrad wrote: ↑Tue Dec 07, 2021 11:10 amMy biggest expense is rent, and I’m able to get an average of an extra 2.5% or more back of what I pay in rent over a simple 2% back credit card without much effort other than manual online credit card payments each month.calmaniac wrote: ↑Tue Dec 07, 2021 7:23 am The Boglehead Principle #9 Invest with simplicity doesn't apply to credit card simplicity?
What is the return for all of these credit card machinations? I love the idea of "free money", but on the other hand know that there is always a cost (time & energy of keeping track of multiple credit cards and potential charges for mistakes). Interested in how people analyze the utility of these approaches.
Quarterly categories and bonus categories on other credit cards are worth another several hundred dollars a year.
I haven’t been doing signup bonuses as often in the past few years, but those can be worth another several hundred or more.
In the past decade, I’ve probably averaged a net benefit of a few thousand dollars a year on top of what a 2% cash back card would return.
RM
Re: What's in your wallet? [credit card strategy]
Amex BCP 6% groceries, 3% gas
US Bank Cash Plus... I always choose the Utility Bill category to get 5% cashback on paying utility bills
Discover Card... usually a useful 5% category each quarter
Classic Chase Freedom... usually a useful 5% category each quarter
Chase Sapphire Preferred... restaurants... I value UR points at 1.7% (always convert to Hyatt points) so the 3x points is effectively 5% for eating out
Chase Freedom Unlimited 1.5 UR points @ 1.7 % value = a 2.5% "other spend" card for all the stuff that dont fit in typical categories
Alliant CU Debit Card... automatic out of network ATM fee reimbursement when cash is needed
many many more in the sock drawer
US Bank Cash Plus... I always choose the Utility Bill category to get 5% cashback on paying utility bills
Discover Card... usually a useful 5% category each quarter
Classic Chase Freedom... usually a useful 5% category each quarter
Chase Sapphire Preferred... restaurants... I value UR points at 1.7% (always convert to Hyatt points) so the 3x points is effectively 5% for eating out
Chase Freedom Unlimited 1.5 UR points @ 1.7 % value = a 2.5% "other spend" card for all the stuff that dont fit in typical categories
Alliant CU Debit Card... automatic out of network ATM fee reimbursement when cash is needed
many many more in the sock drawer
Re: What's in your wallet? [credit card strategy]
Here’s what I have and use…
1. Amazon Visa for 5% off all Amazon & Whole Foods purchases.
2. Chase Freedom Flex. 5% back at Grocery stores (1st 12 months after activation), 3% back at pharmacies ( including CVS) and restaurants. Quarterly 5% bonus categories on up to $1,500 in combined purchases.
3. Costco Visa on gas (4%), restaurants and travel (3%), and Costco purchases (2%) and international travel.
4. Amex Blue Cash for groceries (3% back), but won’t use until my 1 year is up with the Chase Freedom Flex promotion, and Rental Car Premium insurance ($17.95 up to 42 days) https://feeservices.americanexpress.com ... ge/home.do
5. Citi Double-Cash Mastercard (2%) for everything not included above.
6. Southwest Visa. $149/year, but worth it. 7,500 RR Points on anniversary. $75 annual Travel Credit. Four Upgraded Boardings in the A1–A15 position each year (worth up to $50 each).
1. Amazon Visa for 5% off all Amazon & Whole Foods purchases.
2. Chase Freedom Flex. 5% back at Grocery stores (1st 12 months after activation), 3% back at pharmacies ( including CVS) and restaurants. Quarterly 5% bonus categories on up to $1,500 in combined purchases.
3. Costco Visa on gas (4%), restaurants and travel (3%), and Costco purchases (2%) and international travel.
4. Amex Blue Cash for groceries (3% back), but won’t use until my 1 year is up with the Chase Freedom Flex promotion, and Rental Car Premium insurance ($17.95 up to 42 days) https://feeservices.americanexpress.com ... ge/home.do
5. Citi Double-Cash Mastercard (2%) for everything not included above.
6. Southwest Visa. $149/year, but worth it. 7,500 RR Points on anniversary. $75 annual Travel Credit. Four Upgraded Boardings in the A1–A15 position each year (worth up to $50 each).
- anon_investor
- Posts: 15122
- Joined: Mon Jun 03, 2019 1:43 pm
Re: What's in your wallet? [credit card strategy]
That US Bank Cash Plus card looks pretty good. Are the 5% cash back categories options static or do they change every quarter?audioaxes wrote: ↑Tue Dec 07, 2021 11:07 pm Amex BCP 6% groceries, 3% gas
US Bank Cash Plus... I always choose the Utility Bill category to get 5% cashback on paying utility bills
Discover Card... usually a useful 5% category each quarter
Classic Chase Freedom... usually a useful 5% category each quarter
Chase Sapphire Preferred... restaurants... I value UR points at 1.7% (always convert to Hyatt points) so the 3x points is effectively 5% for eating out
Chase Freedom Unlimited 1.5 UR points @ 1.7 % value = a 2.5% "other spend" card for all the stuff that dont fit in typical categories
Alliant CU Debit Card... automatic out of network ATM fee reimbursement when cash is needed
many many more in the sock drawer
Re: What's in your wallet? [credit card strategy]
I do alot less productive and time consuming things than spending a little extra time to manage multiple cards over having just a couple. Plus once you are fully indoctrinated in the hobby of credit card points it becomes second nature and a negligible effort to manage my cards.calmaniac wrote: ↑Tue Dec 07, 2021 7:23 am The Boglehead Principle #9 Invest with simplicity doesn't apply to credit card simplicity?
What is the return for all of these credit card machinations? I love the idea of "free money", but on the other hand know that there is always a cost (time & energy of keeping track of multiple credit cards and potential charges for mistakes). Interested in how people analyze the utility of these approaches.
Not sure I have the psychic energy to maintain more than 2 cards.
Re: What's in your wallet? [credit card strategy]
you select 2 5% categories and 1 2% category. The categories you get to choose from each quarter are more or less static but they have removed/added some at times.anon_investor wrote: ↑Tue Dec 07, 2021 11:21 pmThat US Bank Cash Plus card looks pretty good. Are the 5% cash back categories options static or do they change every quarter?audioaxes wrote: ↑Tue Dec 07, 2021 11:07 pm Amex BCP 6% groceries, 3% gas
US Bank Cash Plus... I always choose the Utility Bill category to get 5% cashback on paying utility bills
Discover Card... usually a useful 5% category each quarter
Classic Chase Freedom... usually a useful 5% category each quarter
Chase Sapphire Preferred... restaurants... I value UR points at 1.7% (always convert to Hyatt points) so the 3x points is effectively 5% for eating out
Chase Freedom Unlimited 1.5 UR points @ 1.7 % value = a 2.5% "other spend" card for all the stuff that dont fit in typical categories
Alliant CU Debit Card... automatic out of network ATM fee reimbursement when cash is needed
many many more in the sock drawer
-
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Re: What's in your wallet? [credit card strategy]
deleted
Last edited by Marseille07 on Wed Dec 08, 2021 3:32 pm, edited 1 time in total.
-
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- Joined: Tue Dec 31, 2013 6:05 am
- Location: 26 miles, 385 yards west of Copley Square
Re: What's in your wallet? [credit card strategy]
There are tons of programs and apps that can apply to gas. I tend to stick with Shell because I am in their rewards program that gives me 5 cents a gallon off, but the program is also linked to my stop & shop grocery store card, so an additional $1.50 per gallon is possible. How? I get points for every shopping trip to stop & shop, using my rewards card there along with whatever rewards credit card is best that day. Periodically, they give 3 times the points for buying Visa or master card gift cards. So a $500 gift card hits their max of $1.50 per gallon off. I tend to first use that gift card to buy my grocery stuff for the day, mainly to just verify the points hit my card and if not, off to customer service. Then to the shell station with gas cans on my trailer hitch rack. There, I use the visa gift card to buy a $100 shell gift card. That's just to make it easier at the pump. Visa gift cards have to go inside, shell can go right into the pump. Then I get my gas for $1.55 off per gallon. I'm now also using the fletch app, where you take a picture of any receipt and points are added to the point where you have $10 you can get in gift cards.JoMoney wrote: ↑Tue Dec 07, 2021 7:46 am Currently have a 2% cash back card (Fidelity) in my wallet, and I use a 5% category card (Citi Custom Cash) for groceries and gift cards bought at grocery stores (for gas, a few restaurants I frequent, sometimes other things.) Spending at Kroger grocery gets additional "Fuel Points" (2x for buying gift cards) to get discounted gas.
The other programs I sometimes use are at Exxon/Mobil. I'll use getupside to locate a discount at a gas station. Use my EM rewards program number to get credit for the purchase and sometimes a reduction up front...usually a couple bucks, then at the end, key in the app to verify the station, take a picture of the receipt and get points towards cash back when I hit $50 (I could do $25 with paypal, but who needs them?).
While these might seem like a hassle to you, it's fun for me. How do I get many multiple refunds, points and credits for my normal purchases. I have had too many gallons of gas and switched over to diesel, which can legally be used for home heating oil. It's quite satisfying to put $1.50 diesel into the house when my oil company charges way over $3 a gallon.
Bogle: Smart Beta is stupid
Re: What's in your wallet? [credit card strategy]
Plastiq to pay Wells Fargo Mortgage (not sure about other servicers) codes as travel with BOA...anon_investor wrote: ↑Tue Dec 07, 2021 10:59 pmI meant a practical hack! It has to be lower than 2.62% for it to be viable...JoMoney wrote: ↑Tue Dec 07, 2021 10:57 pmPlastiq.com (just be willing to add 2.85% fee)anon_investor wrote: ↑Tue Dec 07, 2021 10:52 pmIf a BH ever cracks that code...ResearchMed wrote: ↑Tue Dec 07, 2021 10:35 pmIf only we could make our mortgage payments with a charge card. We'd be swimming in points!Lyrrad wrote: ↑Tue Dec 07, 2021 11:10 am
My biggest expense is rent, and I’m able to get an average of an extra 2.5% or more back of what I pay in rent over a simple 2% back credit card without much effort other than manual online credit card payments each month.
Quarterly categories and bonus categories on other credit cards are worth another several hundred dollars a year.
I haven’t been doing signup bonuses as often in the past few years, but those can be worth another several hundred or more.
In the past decade, I’ve probably averaged a net benefit of a few thousand dollars a year on top of what a 2% cash back card would return.
RM
doxo - 3.5% fee but you can use Apple Pay...
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- Joined: Fri Dec 20, 2019 2:49 am
- Location: Upstate NY
Re: What's in your wallet? [credit card strategy]
Jags do you expect all mortgage services to code for travel using boa? I have 4 boa cards with the preferred boost. I use gas online restaurant and have a second for online but will change to travel if that works
Re: What's in your wallet? [credit card strategy]
AOD Federal Credit Union is a small credit union in Alabama. Apparently you can join the Northeast Alabama Bike Riders association to gain membership ($5 fee).
In all fairness, I haven't done this and since it's a credit union expect significant hoops to jump through.
Re: What's in your wallet? [credit card strategy]
Sorry, I can't answer that question. Your best bet is to try a small amount like $100 and see what happens. Remember, you can only use Mastercards or Business Visa cards to pay mortgages via Plastq. Personal Visa cards are verboten. This is particularly disappointing because the BOA AAA Member Rewards card is a Visa... However, the BOA Business Customized Cash card with Business Platinum Honors will give you 5.25% back on travel... Business Platinum Honors is significantly harder to get than personal PH status.
Last edited by Jags4186 on Wed Dec 08, 2021 7:23 am, edited 2 times in total.
- AnnetteLouisan
- Posts: 7263
- Joined: Sat Sep 18, 2021 10:16 pm
- Location: New York, NY
Re: What's in your wallet? [credit card strategy]
Amex traditional green, legacy $55 annual fee, no membership rewards. I’ve really thrashed this out on another thread and due to my personality, like an alcoholic or addict it’s best that I limit any inducements. All quiet in the wallet works for me right now. I’ve tried the other way, which was also fun and I still enjoy those memories but I enjoy living off 1/8th of my gross even more at this stage of life. May try a cash back w one of my banks like TD Bank. Or not.
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- Posts: 3949
- Joined: Fri Dec 20, 2019 2:49 am
- Location: Upstate NY
Re: What's in your wallet? [credit card strategy]
Thank youJags4186 wrote: ↑Wed Dec 08, 2021 7:18 amAOD Federal Credit Union is a small credit union in Alabama. Apparently you can join the Northeast Alabama Bike Riders association to gain membership ($5 fee).
In all fairness, I haven't done this and since it's a credit union expect significant hoops to jump through.
I just did this to join mid Florida credit union for 2.5% cash back … and moved all auto charges over to new card, etc
Might have to pace myself !
Re: What's in your wallet? [credit card strategy]
That PCMCU card looked too good to be true... then I found the limited membership requirements for that CU
https://pcmcu.org/select-employee-groups-segs/
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
- anon_investor
- Posts: 15122
- Joined: Mon Jun 03, 2019 1:43 pm
Re: What's in your wallet? [credit card strategy]
Interesting, too bad my monthly mortgage is larger than the BOA CCR quarterly cap...Jags4186 wrote: ↑Wed Dec 08, 2021 7:07 amPlastiq to pay Wells Fargo Mortgage (not sure about other servicers) codes as travel with BOA...anon_investor wrote: ↑Tue Dec 07, 2021 10:59 pmI meant a practical hack! It has to be lower than 2.62% for it to be viable...JoMoney wrote: ↑Tue Dec 07, 2021 10:57 pmPlastiq.com (just be willing to add 2.85% fee)anon_investor wrote: ↑Tue Dec 07, 2021 10:52 pmIf a BH ever cracks that code...ResearchMed wrote: ↑Tue Dec 07, 2021 10:35 pm
If only we could make our mortgage payments with a charge card. We'd be swimming in points!
RM
doxo - 3.5% fee but you can use Apple Pay...
- ResearchMed
- Posts: 16795
- Joined: Fri Dec 26, 2008 10:25 pm
Re: What's in your wallet? [credit card strategy]
Thanks. Good to know.JoMoney wrote: ↑Tue Dec 07, 2021 10:57 pmPlastiq.com (just be willing to add 2.85% fee)anon_investor wrote: ↑Tue Dec 07, 2021 10:52 pmIf a BH ever cracks that code...ResearchMed wrote: ↑Tue Dec 07, 2021 10:35 pmIf only we could make our mortgage payments with a charge card. We'd be swimming in points!Lyrrad wrote: ↑Tue Dec 07, 2021 11:10 amMy biggest expense is rent, and I’m able to get an average of an extra 2.5% or more back of what I pay in rent over a simple 2% back credit card without much effort other than manual online credit card payments each month.calmaniac wrote: ↑Tue Dec 07, 2021 7:23 am The Boglehead Principle #9 Invest with simplicity doesn't apply to credit card simplicity?
What is the return for all of these credit card machinations? I love the idea of "free money", but on the other hand know that there is always a cost (time & energy of keeping track of multiple credit cards and potential charges for mistakes). Interested in how people analyze the utility of these approaches.
Quarterly categories and bonus categories on other credit cards are worth another several hundred dollars a year.
I haven’t been doing signup bonuses as often in the past few years, but those can be worth another several hundred or more.
In the past decade, I’ve probably averaged a net benefit of a few thousand dollars a year on top of what a 2% cash back card would return.
RM
We might be willing to pay an extra fee, but that 2.85% is more than we'd currently need to purchase the points outright.
Thus far we haven't needed to purchase extra, but with some luck, that could change.
RM
This signature is a placebo. You are in the control group.
Re: What's in your wallet?
I thought the Brooks card was interesting. I have one as well. I regularly get offers from them. I just redeemed a spend $1500 anywhere and get $150 Brooks cash. I redeemed it on some polos and casual shirts with an additional 15% cash back through Rakuten, a buy 4 get 40% off, and an additional 20% off. It’s not a primary card, but helpful for deal shopping BB.cabfranc wrote: ↑Mon Dec 06, 2021 10:56 am Fidelity 2% cash back used for everything. Brooks Brothers credit card as a back up which is rarely used because I no longer have to buy nice clothes in the pandemic. I have too little time and energy to play credit card rewards games for a a couple of hundred bucks that will be insignificant in the big financial picture.
Re: What's in your wallet? [credit card strategy]
That’s why you need the business version which has a $50k annual cap instead of a $2k quarterly cap.anon_investor wrote: ↑Wed Dec 08, 2021 8:44 amInteresting, too bad my monthly mortgage is larger than the BOA CCR quarterly cap...Jags4186 wrote: ↑Wed Dec 08, 2021 7:07 amPlastiq to pay Wells Fargo Mortgage (not sure about other servicers) codes as travel with BOA...anon_investor wrote: ↑Tue Dec 07, 2021 10:59 pmI meant a practical hack! It has to be lower than 2.62% for it to be viable...
doxo - 3.5% fee but you can use Apple Pay...
- anon_investor
- Posts: 15122
- Joined: Mon Jun 03, 2019 1:43 pm
Re: What's in your wallet? [credit card strategy]
That is crazy. The $2.5k quarterly cap basically means I can't use the CCR for family travel either, I use the PR.Jags4186 wrote: ↑Wed Dec 08, 2021 10:50 amThat’s why you need the business version which has a $50k annual cap instead of a $2k quarterly cap.anon_investor wrote: ↑Wed Dec 08, 2021 8:44 amInteresting, too bad my monthly mortgage is larger than the BOA CCR quarterly cap...Jags4186 wrote: ↑Wed Dec 08, 2021 7:07 amPlastiq to pay Wells Fargo Mortgage (not sure about other servicers) codes as travel with BOA...anon_investor wrote: ↑Tue Dec 07, 2021 10:59 pmI meant a practical hack! It has to be lower than 2.62% for it to be viable...
doxo - 3.5% fee but you can use Apple Pay...
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- Joined: Tue Sep 30, 2014 10:16 pm
Re: What's in your wallet? [credit card strategy]
I have ~40 credit cards, the main ones I carry/use are:
Delta Reserve for the first 25k of non bonused spend each year. This gives me a MQD Waiver on Delta, has allowed me to easily maintain Gold/Platinum each year on Delta.
US Bank Altitude Reserve (3x on Apple Pay)
Chase Freedom for rotating 5% categories (Paypal this quarter)
Amex Gold (4x on grocery/restaurant)
Costco Visa (4% on gas)
Amex Platinum (high end purchases where I want extended warranty coverage or anything that's final sale, also 5x return on flights)
Amex Blue Business Plus (2x points back on everything else)
Hilton Aspire (major points on hilton)
It takes me almost no time to manage all this, and the benefits are substantial.
Delta Reserve for the first 25k of non bonused spend each year. This gives me a MQD Waiver on Delta, has allowed me to easily maintain Gold/Platinum each year on Delta.
US Bank Altitude Reserve (3x on Apple Pay)
Chase Freedom for rotating 5% categories (Paypal this quarter)
Amex Gold (4x on grocery/restaurant)
Costco Visa (4% on gas)
Amex Platinum (high end purchases where I want extended warranty coverage or anything that's final sale, also 5x return on flights)
Amex Blue Business Plus (2x points back on everything else)
Hilton Aspire (major points on hilton)
It takes me almost no time to manage all this, and the benefits are substantial.
Re: What's in your wallet? [credit card strategy]
In my wallet: Amazon Prime Rewards Visa for Amazon purchases and as a backup for businesses that don’t accept Apple Pay or have NFC terminals.
A couple of hotel credit cards that rarely get used stay at home unless I’m traveling and staying at the hotel associated with the credit card. The annual free night more than pays for the annual fee. Hyatt seems to be the only one that allows you to book a room for someone else.
https://frequentmiler.com/bet-you-didnt ... eone-else/
A bunch of canceled airline credit cards have been shredded over the years. Can’t justify the annual fee after receiving the signup bonus.
A couple of hotel credit cards that rarely get used stay at home unless I’m traveling and staying at the hotel associated with the credit card. The annual free night more than pays for the annual fee. Hyatt seems to be the only one that allows you to book a room for someone else.
https://frequentmiler.com/bet-you-didnt ... eone-else/
A bunch of canceled airline credit cards have been shredded over the years. Can’t justify the annual fee after receiving the signup bonus.
Re: What's in your wallet? [credit card strategy]
Walmart 5% cash back - mostly groceries
Chase business cash -5% phones/internet/entertainment subscriptions.
Cap one savor 4% meals entertainment
BOA cash rewards - approx 3.75% on gas ( I think?)
Amazon 5%
Target 5% (rarely use)
Fidelity card 2% everything else.
Back to pursuing some large upfront bonuses
Just completed chase ink business unlimited - $750 bonus.
Working on chase in business preferred - $1000 bonus
Thinking about adding a card mentioned in here that has elective categories at 5% including utilities? Us bank signature card I think.
I have a bunch of other cards that I rarely use.
Chase business cash -5% phones/internet/entertainment subscriptions.
Cap one savor 4% meals entertainment
BOA cash rewards - approx 3.75% on gas ( I think?)
Amazon 5%
Target 5% (rarely use)
Fidelity card 2% everything else.
Back to pursuing some large upfront bonuses
Just completed chase ink business unlimited - $750 bonus.
Working on chase in business preferred - $1000 bonus
Thinking about adding a card mentioned in here that has elective categories at 5% including utilities? Us bank signature card I think.
I have a bunch of other cards that I rarely use.
- nebraskaman
- Posts: 38
- Joined: Tue Apr 30, 2013 2:06 pm
Re: What's in your wallet? [credit card strategy]
Anyone with that uses the easy 1.5 option chase freedom unlimited platinum receive an email that they were getting a new chase freedom unlimited visa signature? Hoping that was an upgrade
The early bird gets the worm but the second mouse gets the cheese.
Re: What's in your wallet? [credit card strategy]
Oh but you could for a glorious few months last year. When PayPal introduced their PayPal Key product which allowed you to attach a credit or charge card to what was a debit card so much fun was had. You could pay so many things with your charge card your head was spinning mortgages were but one thing. Good times but then Amex and PP ended the fun. I'll be spending all the points I generated for years to come. The debit card had the advantage that it coded at 1% on Plastiq.ResearchMed wrote: ↑Tue Dec 07, 2021 10:35 pm
If only we could make our mortgage payments with a charge card. We'd be swimming in points!
RM
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Re: What's in your wallet? [credit card strategy]
That's crazy. So you paid your mortgage with Plastiq, which you paid with PayPal Key, which charged your Amex? How long did that last?THY4373 wrote: ↑Wed Dec 08, 2021 11:12 pmOh but you could for a glorious few months last year. When PayPal introduced their PayPal Key product which allowed you to attach a credit or charge card to what was a debit card so much fun was had. You could pay so many things with your charge card your head was spinning mortgages were but one thing. Good times but then Amex and PP ended the fun. I'll be spending all the points I generated for years to come. The debit card had the advantage that it coded at 1% on Plastiq.ResearchMed wrote: ↑Tue Dec 07, 2021 10:35 pm
If only we could make our mortgage payments with a charge card. We'd be swimming in points!
RM
Re: What's in your wallet? [credit card strategy]
Yes that was basically the angle though not just Amex and not just Plastiq there were quite a number of plays that were available. I actually didn't pay my mortgage (though plenty of others did) as I rent but I paid a lot of things it was an absolutely glorious 3.5 months. Amex blocked PPK at the beginning of the year and PP started blocking the really good methods around the same time. While I am not personally aware of any current angles I suspect there are still some folks playing the game to some degree. PPK still allows you to connect CCs (other than Amex) to what is effectively a debit card for online use (no physical card).anon_investor wrote: ↑Wed Dec 08, 2021 11:19 pm That's crazy. So you paid your mortgage with Plastiq, which you paid with PayPal Key, which charged your Amex? How long did that last?
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Re: What's in your wallet? [credit card strategy]
I assume you can't pay taxes with PPK and have it coded as a debit card (lower fees than a CC).THY4373 wrote: ↑Wed Dec 08, 2021 11:25 pmYes that was basically the angle though not just Amex and not just Plastiq there were quite a number of plays that were available. I actually didn't pay my mortgage as I rent but I paid a lot of things it was an absolutely glorious 3.5 months. Amex blocked PPK at the beginning of the year and PP started blocking the really good methods around the same time. While I am not personally aware of any current angles I suspect there are still some folks playing the game to some degree. PPK still allows you to connect CCs (other than Amex) to what is effectively a debit card for online use (no physical card).anon_investor wrote: ↑Wed Dec 08, 2021 11:19 pm That's crazy. So you paid your mortgage with Plastiq, which you paid with PayPal Key, which charged your Amex? How long did that last?
Re: What's in your wallet? [credit card strategy]
You could at one point but I believe that is all blocked now though certainly give it a shot. Basically it was originally wide open but of course folks found all kinds of unintended angles and PP slowly blocked most of the good ones either by blocking quasi-cash transaction codes or blocking specific providers (such as Plastiq). That said I know folks who still pay their rent via PPK charging a non-Amex CC and pay a debit flat fee vs a percent if they directly charged their CC. So some things still work if there wasn't real room to scale them and attract PP's attention.anon_investor wrote: ↑Wed Dec 08, 2021 11:29 pm I assume you can't pay taxes with PPK and have it coded as a debit card (lower fees than a CC).
- VictorStarr
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Re: What's in your wallet? [credit card strategy]
I usually do not have a wallet, just a phone with a card holder, I carry one or maximum two cards:
- Schwab Amex Platinum - 10 points x 1.1 for dining
- Bank of America Premium - 2.625% for everything else
Majority of my in person and online spending goes to US Bank Altitude Reserve (Apple Pay using Apple Watch)
- 3 points x 1.5 for all mobile payments (groceries, Costco, gas, car insurance, lawn maintenance, etc)
In a sock drawer:
- 5% - Chase Amazon with Amazon
- 5.25% - online purchases using BofA Custom Cash
- 2% - Fidelity Visa for all recurring fees (subscriptions, utilities, etc)
- Schwab Amex Platinum - 10 points x 1.1 for dining
- Bank of America Premium - 2.625% for everything else
Majority of my in person and online spending goes to US Bank Altitude Reserve (Apple Pay using Apple Watch)
- 3 points x 1.5 for all mobile payments (groceries, Costco, gas, car insurance, lawn maintenance, etc)
In a sock drawer:
- 5% - Chase Amazon with Amazon
- 5.25% - online purchases using BofA Custom Cash
- 2% - Fidelity Visa for all recurring fees (subscriptions, utilities, etc)
Re: What's in your wallet? [credit card strategy]
In my wallet:
- Chase Freedom Unlimited
- Driver's license
- HMO (medical) card
- adjacent to the wallet (too big to fit) I've got a copy of my COVID vaccination card, with birthdate and HMO number blacked out for those places that check
- a little cash, like $20 - $40, where the same bills stay there for months these days
I tend to pay with my watch (or phone, but usually watch) at those mercantile institutions that have successfully moved to the 21st century. These are sadly still lacking, to include that too many are inconsistent about it, with clerks who will give ready opinions on what should or shouldn't work, but generally seem to have no interest or clue. We'll get there, but it's in indifferent fits and starts.
Stored, not carried in wallet:
- Chase Sapphire Reserve --- I rarely pay for travel in person, and the Freedom Unlimited card now gives the same benefit for dining out
- Chase Amazon Prime card --- I don't tend to go to Whole Foods, could pay with my phone if I did, and so just use this in online purchases
- ATM card --- don't tend to use cash these days, and could get it from a Chase ATM with my phone if I needed any
- a raft of other less important cards, one of two of which I might grab if going on a trip (AARP card maybe? senior card for national parks ... that sort of thing)
I do appreciate having a thin, lean wallet. I sometimes leave the HMO card home too, as I've got a (secured) image of both sides of this on my phone and am just never asked for it for local visits (I've memorized my HMO number) --- so really this too could be one I add just for travel.
- Chase Freedom Unlimited
- Driver's license
- HMO (medical) card
- adjacent to the wallet (too big to fit) I've got a copy of my COVID vaccination card, with birthdate and HMO number blacked out for those places that check
- a little cash, like $20 - $40, where the same bills stay there for months these days
I tend to pay with my watch (or phone, but usually watch) at those mercantile institutions that have successfully moved to the 21st century. These are sadly still lacking, to include that too many are inconsistent about it, with clerks who will give ready opinions on what should or shouldn't work, but generally seem to have no interest or clue. We'll get there, but it's in indifferent fits and starts.
Stored, not carried in wallet:
- Chase Sapphire Reserve --- I rarely pay for travel in person, and the Freedom Unlimited card now gives the same benefit for dining out
- Chase Amazon Prime card --- I don't tend to go to Whole Foods, could pay with my phone if I did, and so just use this in online purchases
- ATM card --- don't tend to use cash these days, and could get it from a Chase ATM with my phone if I needed any
- a raft of other less important cards, one of two of which I might grab if going on a trip (AARP card maybe? senior card for national parks ... that sort of thing)
I do appreciate having a thin, lean wallet. I sometimes leave the HMO card home too, as I've got a (secured) image of both sides of this on my phone and am just never asked for it for local visits (I've memorized my HMO number) --- so really this too could be one I add just for travel.
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Re: What's in your wallet? [credit card strategy]
A few trips ago the woman in front of me had a boarding pass on her phone. It wouldn't scan at the TSA checkpoint. The TSA agent told her if it doesn't scan we cannot take it. She was frantic because she had to go get a printed boarding pass and wait in line again. Lesson learned.Jeepergeo wrote: ↑Tue Dec 07, 2021 10:48 pmI just have to laugh when folks with credit card or boarding pass information in their phone go to use it, find their phone battery is down, and they are directed to step aside while they solve their unavailable information situation.H-Town wrote: ↑Tue Dec 07, 2021 10:03 am- Why would you carry Amazon Prime in your wallet if you only use the card on Amazon.com?Bigt3142 wrote: ↑Mon Dec 06, 2021 10:47 am Wondering what your credit card strategies are to see if mine can be improved. I know there are several posts about this but I thought it would be good to aggregate it in one location for anyone interested. What do you use, what do you have, and what is your strategy?
I'll start:
Main Card: Delta Platinum - Use this for almost everything to get more skymiles on the airline I use most. Also like the free companion flight every year.
Secondary: Citi Double Cash - Use this whenever my AMEX isn't accepted for the 2% cash back. This may become my main card when I get "enough" miles.
Specific Use: IHG Premier Card - I travel a lot for work and use this at IHG hotels for the points and free night every year.
Amazon Prime - I use this for Amazon purchases for the 5% cash back.
Others I have that I don't carry:
Credit Union 2% cash back - didn't like that they never send me a statement or tell me how much cash back I have available.
Fidelity 2% cash back - Limited to fidelity investments. I wanted to travel more so I don't use this much anymore.
US Bank Card - Got this for gas discount. It did not provide the discounts it advertised.
Chase Sapphire Reserve - Got this card for the 100,000 points. I don't use their partner airlines so it doesn't have much value to me. Will downgrade to freedom before the renewal fee.
- Many gas stations have its app (Shell, Exxon, BP, etc.) which you can pay from the app. So you don't have to carry a specific card to pay for gas.
- IHG allows you to save your IHG Premier card on file. Most hotels don't ask me for a physical credit card. They just confirm that I want to use the IHG Premier card on file.
- If you have an iPhone, use its wallet and Apple Pay. I think Android phone also has Google Pay?
- One should carry a health insurance card and/or emergency contact information in the wallet.
- One should carry small bills ($1, $5, and $20) in case you need it (valet, parking that not accept cards, tips, etc.)
Re: What's in your wallet? [credit card strategy]
The AAA Card has a narrower definition of travel than the Customized Cash or Premium Rewards cards. See the Program Rules for a list of merchant categories that count as travel. (The rules should have come with the card, or you can do a web search for "AAA Member Rewards Visa Program Rules" or "Bank of America Cash Rewards Program Rules")
Re: What's in your wallet? [credit card strategy]
This is a "family friendly" forum. Not just for language, but subject matter. I removed an interchange regarding a wallet item intended for the "adult" crowd.
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Re: What's in your wallet? [credit card strategy]
Does the AAA card get the 75% cash back boost? I thought it didn't.Lyrrad wrote: ↑Thu Dec 09, 2021 11:33 amThe AAA Card has a narrower definition of travel than the Customized Cash or Premium Rewards cards. See the Program Rules for a list of merchant categories that count as travel. (The rules should have come with the card, or you can do a web search for "AAA Member Rewards Visa Program Rules" or "Bank of America Cash Rewards Program Rules")
Re: What's in your wallet? [credit card strategy]
Perhaps it is not this way with an HMO, but every doctor's office I visit wants to photocopy my insurance cards.xb7 wrote: ↑Thu Dec 09, 2021 11:05 am
I do appreciate having a thin, lean wallet. I sometimes leave the HMO card home too, as I've got a (secured) image of both sides of this on my phone and am just never asked for it for local visits (I've memorized my HMO number) --- so really this too could be one I add just for travel.
Re: What's in your wallet? [credit card strategy]
Yes, it does. In the past, it apparently only got it on the base points, but this was changed to get it on the whole amount. See the "AAA Member Rewards Visa Program Rules" document where it describes this in detail and for specific details on what MCC support the 2x and 3x points (up to 3.5 and 5.25 with 75% bonus).anon_investor wrote: ↑Fri Dec 10, 2021 7:51 am
Does the AAA card get the 75% cash back boost? I thought it didn't.
Re: What's in your wallet? [credit card strategy]
Just a guess, but my HMO issues me my card, so presumably there's no need for them to photocopy it. Pre-HMO I had Regence Blue Shield and a regular doctor who would then direct me to various specialists as needed. In those days I well recall having everyone want to copy the card. Perhaps if the HMO were to tell me to see an out-of-system specialist I would need (or at least "they would want") the physical card, but in a couple of years now this hasn't happened yet.Cruise wrote: ↑Fri Dec 10, 2021 9:55 amPerhaps it is not this way with an HMO, but every doctor's office I visit wants to photocopy my insurance cards.xb7 wrote: ↑Thu Dec 09, 2021 11:05 am
I do appreciate having a thin, lean wallet. I sometimes leave the HMO card home too, as I've got a (secured) image of both sides of this on my phone and am just never asked for it for local visits (I've memorized my HMO number) --- so really this too could be one I add just for travel.
My guess is that in the game of medical chicken, even if I didn't have the physical card, they might be the first to blink, especially if I were prepared on the spot to email or text them the image that they want to scan in the first place. But it's a really thin card, so at this point I just carry it. If someone were to haul my unconscious body in for treatment somewhere, it might ultimately save some financial hassle if the card was with me ... plus the emergency folks could then contact my HMO for details on things like potential allergic reaction, medical history in general as needed.
- anon_investor
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Re: What's in your wallet? [credit card strategy]
What is the benefit of the AAA card and normal CCR? Do you have to be an actual AAA member to have it?Lyrrad wrote: ↑Fri Dec 10, 2021 11:01 amYes, it does. In the past, it apparently only got it on the base points, but this was changed to get it on the whole amount. See the "AAA Member Rewards Visa Program Rules" document where it describes this in detail and for specific details on what MCC support the 2x and 3x points (up to 3.5 and 5.25 with 75% bonus).anon_investor wrote: ↑Fri Dec 10, 2021 7:51 am
Does the AAA card get the 75% cash back boost? I thought it didn't.
Re: What's in your wallet? [credit card strategy]
You can get a 20% bonus on redemptions for AAA vouchers that you might be able to redeem in a branch in some areas/states. I don't have the card and I'm not an AAA member so I don't know if it's useful in my area. You may also be able to transfer PR and CCR points to the AAA card.anon_investor wrote: ↑Fri Dec 10, 2021 11:08 am
What is the benefit of the AAA card and normal CCR? Do you have to be an actual AAA member to have it?
Re: What's in your wallet? [credit card strategy]
I carry 2 cards:
Fidelity VISA for 2% Cash Back.
AmEx Blue for 6% on groceries (up to $6,000/yr), and 5% on gas.
The Amazon card is nice, but I use the AmEx to buy Amazon gift cards at the grocery store. It gives up some float, but I effectively get 6%
off on Amazon, PLUS $1/gallon off on up to 35 gallons of gas from the grocery store (or BP) whenever I stock up on on cards.
Technically, I also use Chase VISA that pays 5% on cable/phone. It's all automatic billing & payment, so it's hands-free.
I used to use Citi Double cash, but switched to Fidelity because VISA is somewhat wider acceptance than MC.
Fidelity VISA for 2% Cash Back.
AmEx Blue for 6% on groceries (up to $6,000/yr), and 5% on gas.
The Amazon card is nice, but I use the AmEx to buy Amazon gift cards at the grocery store. It gives up some float, but I effectively get 6%
off on Amazon, PLUS $1/gallon off on up to 35 gallons of gas from the grocery store (or BP) whenever I stock up on on cards.
Technically, I also use Chase VISA that pays 5% on cable/phone. It's all automatic billing & payment, so it's hands-free.
I used to use Citi Double cash, but switched to Fidelity because VISA is somewhat wider acceptance than MC.
Re: What's in your wallet? [credit card strategy]
I figure that sellers already have the credit card costs built in.
If I don't use cash back strategies, I'm losing out.
In this situation, cash isn't king.
I don't mind paying the 5 credit card bills; it's just a few clicks.
If I don't use cash back strategies, I'm losing out.
In this situation, cash isn't king.
I don't mind paying the 5 credit card bills; it's just a few clicks.