What's in your wallet? [credit card strategy]

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills.
Jags4186
Posts: 8198
Joined: Wed Jun 18, 2014 7:12 pm

Re: What's in your wallet? [credit card strategy]

Post by Jags4186 »

Pitagoras wrote: Tue Dec 07, 2021 12:00 pm
Bigt3142 wrote: Tue Dec 07, 2021 10:38 am
Pitagoras wrote: Tue Dec 07, 2021 10:17 am
Have but not use
Amex Gold (costly, but one of my oldest accounts in the US, keeping for credit score)
I'm you don't use your Amex Gold, you can downgrade it to the Amex Blue and it will keep your account open date. The Blue card has no annual fee.
didnt know that! Great tip, thanks.
You can only downgrade to a Green card. Blue is not a downgrade option for the Gold card.
100nanos
Posts: 45
Joined: Mon Nov 29, 2021 9:12 am

Re: What's in your wallet? [credit card strategy]

Post by 100nanos »

Amex Schwab Platinum (5.5% cash back flights/hotels)

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.
User avatar
ResearchMed
Posts: 16795
Joined: Fri Dec 26, 2008 10:25 pm

Re: What's in your wallet? [credit card strategy]

Post by ResearchMed »

Lyrrad wrote: Tue Dec 07, 2021 11:10 am
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.
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.
If only we could make our mortgage payments with a charge card. We'd be swimming in points!

RM
This signature is a placebo. You are in the control group.
Jeepergeo
Posts: 876
Joined: Sun Dec 20, 2020 1:33 pm

Re: What's in your wallet? [credit card strategy]

Post by Jeepergeo »

H-Town wrote: Tue Dec 07, 2021 10:03 am
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.
- Why would you carry Amazon Prime in your wallet if you only use the card on Amazon.com?
- 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.)
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.
User avatar
anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: What's in your wallet? [credit card strategy]

Post by anon_investor »

ResearchMed wrote: Tue Dec 07, 2021 10:35 pm
Lyrrad wrote: Tue Dec 07, 2021 11:10 am
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.
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.
If only we could make our mortgage payments with a charge card. We'd be swimming in points!

RM
If a BH ever cracks that code... :shock:
User avatar
JoMoney
Posts: 16260
Joined: Tue Jul 23, 2013 5:31 am

Re: What's in your wallet? [credit card strategy]

Post by JoMoney »

anon_investor wrote: Tue Dec 07, 2021 10:52 pm
ResearchMed wrote: Tue Dec 07, 2021 10:35 pm
Lyrrad wrote: Tue Dec 07, 2021 11:10 am
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.
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.
If only we could make our mortgage payments with a charge card. We'd be swimming in points!

RM
If a BH ever cracks that code... :shock:
Plastiq.com (just be willing to add 2.85% fee)
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
User avatar
anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: What's in your wallet? [credit card strategy]

Post by anon_investor »

JoMoney wrote: Tue Dec 07, 2021 10:57 pm
anon_investor wrote: Tue Dec 07, 2021 10:52 pm
ResearchMed wrote: Tue Dec 07, 2021 10:35 pm
Lyrrad wrote: Tue Dec 07, 2021 11:10 am
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.
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.
If only we could make our mortgage payments with a charge card. We'd be swimming in points!

RM
If a BH ever cracks that code... :shock:
Plastiq.com (just be willing to add 2.85% fee)
I meant a practical hack! It has to be lower than 2.62% for it to be viable...
audioaxes
Posts: 212
Joined: Tue Feb 13, 2018 6:16 pm

Re: What's in your wallet? [credit card strategy]

Post by audioaxes »

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
rbrand1
Posts: 18
Joined: Sun Mar 22, 2015 4:37 pm
Location: California

Re: What's in your wallet? [credit card strategy]

Post by rbrand1 »

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).
User avatar
anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: What's in your wallet? [credit card strategy]

Post by anon_investor »

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
That US Bank Cash Plus card looks pretty good. Are the 5% cash back categories options static or do they change every quarter?
audioaxes
Posts: 212
Joined: Tue Feb 13, 2018 6:16 pm

Re: What's in your wallet? [credit card strategy]

Post by audioaxes »

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.
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.
audioaxes
Posts: 212
Joined: Tue Feb 13, 2018 6:16 pm

Re: What's in your wallet? [credit card strategy]

Post by audioaxes »

anon_investor wrote: Tue Dec 07, 2021 11:21 pm
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
That US Bank Cash Plus card looks pretty good. Are the 5% cash back categories options static or do they change every quarter?
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.
Marseille07
Posts: 16054
Joined: Fri Nov 06, 2020 12:41 pm

Re: What's in your wallet? [credit card strategy]

Post by Marseille07 »

deleted
Last edited by Marseille07 on Wed Dec 08, 2021 3:32 pm, edited 1 time in total.
Jack FFR1846
Posts: 18503
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]

Post by Jack FFR1846 »

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.
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.

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
Jags4186
Posts: 8198
Joined: Wed Jun 18, 2014 7:12 pm

Re: What's in your wallet? [credit card strategy]

Post by Jags4186 »

anon_investor wrote: Tue Dec 07, 2021 10:59 pm
JoMoney wrote: Tue Dec 07, 2021 10:57 pm
anon_investor wrote: Tue Dec 07, 2021 10:52 pm
ResearchMed wrote: Tue Dec 07, 2021 10:35 pm
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.
If only we could make our mortgage payments with a charge card. We'd be swimming in points!

RM
If a BH ever cracks that code... :shock:
Plastiq.com (just be willing to add 2.85% fee)
I meant a practical hack! It has to be lower than 2.62% for it to be viable...
Plastiq to pay Wells Fargo Mortgage (not sure about other servicers) codes as travel with BOA...
doxo - 3.5% fee but you can use Apple Pay...
Parkinglotracer
Posts: 3949
Joined: Fri Dec 20, 2019 2:49 am
Location: Upstate NY

Re: What's in your wallet? [credit card strategy]

Post by Parkinglotracer »

Jags4186 wrote: Mon Dec 06, 2021 1:07 pm For cash back lovers:

AOD FCU Visa: 3% cash back everywhere
PCMCU Mastercard: 5% cash back everywhere up to $1000/mo spend
Citi Custom Cash: 5% cash back on 1 category up to $500/mo spend
What org is AOD FCU? Is it open to all? Thanks
BashDash
Posts: 1263
Joined: Mon Nov 28, 2016 11:31 am

Re: What's in your wallet? [credit card strategy]

Post by BashDash »

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
Jags4186
Posts: 8198
Joined: Wed Jun 18, 2014 7:12 pm

Re: What's in your wallet? [credit card strategy]

Post by Jags4186 »

Parkinglotracer wrote: Wed Dec 08, 2021 7:09 am
Jags4186 wrote: Mon Dec 06, 2021 1:07 pm For cash back lovers:

AOD FCU Visa: 3% cash back everywhere
PCMCU Mastercard: 5% cash back everywhere up to $1000/mo spend
Citi Custom Cash: 5% cash back on 1 category up to $500/mo spend
What org is AOD FCU? Is it open to all? Thanks
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.
Jags4186
Posts: 8198
Joined: Wed Jun 18, 2014 7:12 pm

Re: What's in your wallet? [credit card strategy]

Post by Jags4186 »

BashDash wrote: Wed Dec 08, 2021 7:13 am 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
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.
User avatar
AnnetteLouisan
Posts: 7263
Joined: Sat Sep 18, 2021 10:16 pm
Location: New York, NY

Re: What's in your wallet? [credit card strategy]

Post by AnnetteLouisan »

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.
Parkinglotracer
Posts: 3949
Joined: Fri Dec 20, 2019 2:49 am
Location: Upstate NY

Re: What's in your wallet? [credit card strategy]

Post by Parkinglotracer »

Jags4186 wrote: Wed Dec 08, 2021 7:18 am
Parkinglotracer wrote: Wed Dec 08, 2021 7:09 am
Jags4186 wrote: Mon Dec 06, 2021 1:07 pm For cash back lovers:

AOD FCU Visa: 3% cash back everywhere
PCMCU Mastercard: 5% cash back everywhere up to $1000/mo spend
Citi Custom Cash: 5% cash back on 1 category up to $500/mo spend
What org is AOD FCU? Is it open to all? Thanks
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.
Thank you

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 !
User avatar
JoMoney
Posts: 16260
Joined: Tue Jul 23, 2013 5:31 am

Re: What's in your wallet? [credit card strategy]

Post by JoMoney »

Jags4186 wrote: Mon Dec 06, 2021 1:07 pm For cash back lovers:

AOD FCU Visa: 3% cash back everywhere
PCMCU Mastercard: 5% cash back everywhere up to $1000/mo spend
Citi Custom Cash: 5% cash back on 1 category up to $500/mo spend
That PCMCU card looked too good to be true... then I found the limited membership requirements for that CU :annoyed
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
User avatar
anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: What's in your wallet? [credit card strategy]

Post by anon_investor »

Jags4186 wrote: Wed Dec 08, 2021 7:07 am
anon_investor wrote: Tue Dec 07, 2021 10:59 pm
JoMoney wrote: Tue Dec 07, 2021 10:57 pm
anon_investor wrote: Tue Dec 07, 2021 10:52 pm
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
If a BH ever cracks that code... :shock:
Plastiq.com (just be willing to add 2.85% fee)
I meant a practical hack! It has to be lower than 2.62% for it to be viable...
Plastiq to pay Wells Fargo Mortgage (not sure about other servicers) codes as travel with BOA...
doxo - 3.5% fee but you can use Apple Pay...
Interesting, too bad my monthly mortgage is larger than the BOA CCR quarterly cap...
User avatar
ResearchMed
Posts: 16795
Joined: Fri Dec 26, 2008 10:25 pm

Re: What's in your wallet? [credit card strategy]

Post by ResearchMed »

JoMoney wrote: Tue Dec 07, 2021 10:57 pm
anon_investor wrote: Tue Dec 07, 2021 10:52 pm
ResearchMed wrote: Tue Dec 07, 2021 10:35 pm
Lyrrad wrote: Tue Dec 07, 2021 11:10 am
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.
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.
If only we could make our mortgage payments with a charge card. We'd be swimming in points!

RM
If a BH ever cracks that code... :shock:
Plastiq.com (just be willing to add 2.85% fee)
Thanks. Good to know.

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. :happy

RM
This signature is a placebo. You are in the control group.
jbmitt
Posts: 657
Joined: Mon Jul 14, 2008 1:00 am

Re: What's in your wallet?

Post by jbmitt »

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.
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.
Jags4186
Posts: 8198
Joined: Wed Jun 18, 2014 7:12 pm

Re: What's in your wallet? [credit card strategy]

Post by Jags4186 »

anon_investor wrote: Wed Dec 08, 2021 8:44 am
Jags4186 wrote: Wed Dec 08, 2021 7:07 am
anon_investor wrote: Tue Dec 07, 2021 10:59 pm
JoMoney wrote: Tue Dec 07, 2021 10:57 pm
anon_investor wrote: Tue Dec 07, 2021 10:52 pm

If a BH ever cracks that code... :shock:
Plastiq.com (just be willing to add 2.85% fee)
I meant a practical hack! It has to be lower than 2.62% for it to be viable...
Plastiq to pay Wells Fargo Mortgage (not sure about other servicers) codes as travel with BOA...
doxo - 3.5% fee but you can use Apple Pay...
Interesting, too bad my monthly mortgage is larger than the BOA CCR quarterly cap...
That’s why you need the business version which has a $50k annual cap instead of a $2k quarterly cap.
User avatar
anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: What's in your wallet? [credit card strategy]

Post by anon_investor »

Jags4186 wrote: Wed Dec 08, 2021 10:50 am
anon_investor wrote: Wed Dec 08, 2021 8:44 am
Jags4186 wrote: Wed Dec 08, 2021 7:07 am
anon_investor wrote: Tue Dec 07, 2021 10:59 pm
JoMoney wrote: Tue Dec 07, 2021 10:57 pm
Plastiq.com (just be willing to add 2.85% fee)
I meant a practical hack! It has to be lower than 2.62% for it to be viable...
Plastiq to pay Wells Fargo Mortgage (not sure about other servicers) codes as travel with BOA...
doxo - 3.5% fee but you can use Apple Pay...
Interesting, too bad my monthly mortgage is larger than the BOA CCR quarterly cap...
That’s why you need the business version which has a $50k annual cap instead of a $2k quarterly cap.
:shock: That is crazy. The $2.5k quarterly cap basically means I can't use the CCR for family travel either, I use the PR.
auggiedoggies
Posts: 158
Joined: Tue Sep 30, 2014 10:16 pm

Re: What's in your wallet? [credit card strategy]

Post by auggiedoggies »

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.
bgvg
Posts: 56
Joined: Wed Oct 14, 2020 2:12 am

Re: What's in your wallet? [credit card strategy]

Post by bgvg »

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.
JBTX
Posts: 11228
Joined: Wed Jul 26, 2017 12:46 pm

Re: What's in your wallet? [credit card strategy]

Post by JBTX »

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.
User avatar
nebraskaman
Posts: 38
Joined: Tue Apr 30, 2013 2:06 pm

Re: What's in your wallet? [credit card strategy]

Post by nebraskaman »

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 :happy
The early bird gets the worm but the second mouse gets the cheese.
THY4373
Posts: 2771
Joined: Thu Mar 22, 2012 3:17 pm

Re: What's in your wallet? [credit card strategy]

Post by THY4373 »

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
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.
User avatar
anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: What's in your wallet? [credit card strategy]

Post by anon_investor »

THY4373 wrote: Wed Dec 08, 2021 11:12 pm
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
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.
That's crazy. So you paid your mortgage with Plastiq, which you paid with PayPal Key, which charged your Amex? :shock: How long did that last?
THY4373
Posts: 2771
Joined: Thu Mar 22, 2012 3:17 pm

Re: What's in your wallet? [credit card strategy]

Post by THY4373 »

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? :shock: How long did that last?
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).
User avatar
anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: What's in your wallet? [credit card strategy]

Post by anon_investor »

THY4373 wrote: Wed Dec 08, 2021 11:25 pm
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? :shock: How long did that last?
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 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).
I assume you can't pay taxes with PPK and have it coded as a debit card (lower fees than a CC).
THY4373
Posts: 2771
Joined: Thu Mar 22, 2012 3:17 pm

Re: What's in your wallet? [credit card strategy]

Post by THY4373 »

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).
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.
User avatar
VictorStarr
Posts: 746
Joined: Sat Jan 04, 2020 9:13 pm
Location: Washington

Re: What's in your wallet? [credit card strategy]

Post by VictorStarr »

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)
xb7
Posts: 319
Joined: Sat Jun 09, 2018 6:13 pm
Location: WA State, USA

Re: What's in your wallet? [credit card strategy]

Post by xb7 »

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.
michaeljc70
Posts: 10843
Joined: Thu Oct 15, 2015 3:53 pm

Re: What's in your wallet? [credit card strategy]

Post by michaeljc70 »

Jeepergeo wrote: Tue Dec 07, 2021 10:48 pm
H-Town wrote: Tue Dec 07, 2021 10:03 am
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.
- Why would you carry Amazon Prime in your wallet if you only use the card on Amazon.com?
- 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.)
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.
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.
Lyrrad
Posts: 928
Joined: Sun Jul 27, 2008 10:59 am

Re: What's in your wallet? [credit card strategy]

Post by Lyrrad »

Jags4186 wrote: Wed Dec 08, 2021 7:19 am This is particularly disappointing because the BOA AAA Member Rewards card is a Visa...
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")
User avatar
LadyGeek
Site Admin
Posts: 95704
Joined: Sat Dec 20, 2008 4:34 pm
Location: Philadelphia
Contact:

Re: What's in your wallet? [credit card strategy]

Post by LadyGeek »

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.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
Rasputin13
Posts: 58
Joined: Wed Oct 20, 2021 8:05 am

Re: What's in your wallet? [credit card strategy]

Post by Rasputin13 »

LadyGeek wrote: Thu Dec 09, 2021 1:09 pm 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.
Some people, I swear.
User avatar
anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: What's in your wallet? [credit card strategy]

Post by anon_investor »

Lyrrad wrote: Thu Dec 09, 2021 11:33 am
Jags4186 wrote: Wed Dec 08, 2021 7:19 am This is particularly disappointing because the BOA AAA Member Rewards card is a Visa...
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")
Does the AAA card get the 75% cash back boost? I thought it didn't.
Cruise
Posts: 2750
Joined: Mon Nov 21, 2016 6:17 pm

Re: What's in your wallet? [credit card strategy]

Post by Cruise »

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.
Perhaps it is not this way with an HMO, but every doctor's office I visit wants to photocopy my insurance cards.
Lyrrad
Posts: 928
Joined: Sun Jul 27, 2008 10:59 am

Re: What's in your wallet? [credit card strategy]

Post by Lyrrad »

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.
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).
xb7
Posts: 319
Joined: Sat Jun 09, 2018 6:13 pm
Location: WA State, USA

Re: What's in your wallet? [credit card strategy]

Post by xb7 »

Cruise wrote: Fri Dec 10, 2021 9:55 am
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.
Perhaps it is not this way with an HMO, but every doctor's office I visit wants to photocopy my insurance cards.
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.

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.
User avatar
anon_investor
Posts: 15122
Joined: Mon Jun 03, 2019 1:43 pm

Re: What's in your wallet? [credit card strategy]

Post by anon_investor »

Lyrrad wrote: Fri Dec 10, 2021 11:01 am
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.
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).
What is the benefit of the AAA card and normal CCR? Do you have to be an actual AAA member to have it?
Lyrrad
Posts: 928
Joined: Sun Jul 27, 2008 10:59 am

Re: What's in your wallet? [credit card strategy]

Post by Lyrrad »

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?
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.
UNCHEEL
Posts: 209
Joined: Fri Dec 18, 2015 8:36 am

Re: What's in your wallet? [credit card strategy]

Post by UNCHEEL »

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.
hudson
Posts: 7119
Joined: Fri Apr 06, 2007 9:15 am

Re: What's in your wallet? [credit card strategy]

Post by hudson »

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.
Post Reply