The Rewards Card Strategies Discussion Thread

[NoPresetSnarkLimit]

No defined strategy and I need to fix that I guess, I have a lot of cards that I use where and when it makes sense within quarterly categories or special offers. I think that I will expand into a few airline and hotel cards next and just bank points until I need them.

My current list:

 

Chase Sapphire Preferred

Chase Freedom

Sallie Mae

US Airways

Capital One QS

USAA Amex

BOA Better Balance Rewards

BOA Cash Rewards

American Express Platinum

American Express Blue Cash

American Express Green

Penfed Defender Amex

Citi Diamond Preferred

Citi Thank You Preferred

Discover It

 

My want list:

Merrill Signature Rewards

 

Waiting until I have firm Travel plans to take advantage of them:

Ritz Carlton or

Marriot Rewards

 

Waiting for better sign up bonuses list:

Amex PRG

Citi AA

United

Amex Delta (flavor undecided)

I guess I could use a 2% card, Citi DC or Fidelity no rush

NFCU (flavor undecided)

[mendelssohn]

No defined strategy and I need to fix that I guess, I have a lot of cards that I use where and when it makes sense within quarterly categories or special offers. I think that I will expand into a few airline and hotel cards next and just bank points until I need them.

My current list:

 

Chase Sapphire Preferred

Chase Freedom

Sallie Mae

US Airways

Capital One QS

USAA Amex

BOA Better Balance Rewards

BOA Cash Rewards

American Express Platinum

American Express Blue Cash

American Express Green

Penfed Defender Amex

Citi Diamond Preferred

Citi Thank You Preferred

Discover It

 

My want list:

Merrill Signature Rewards

 

Waiting until I have firm Travel plans to take advantage of them:

Ritz Carlton or

Marriot Rewards

 

Waiting for better sign up bonuses list:

Amex PRG

Citi AA

United

Amex Delta (flavor undecided)

I guess I could use a 2% card, Citi DC or Fidelity no rush

NFCU (flavor undecided)

 

You talk about adding airline and hotels cards, but what are your travel plans? There's no point in adding cards if you don't have a plan to use the rewards.

 

The Citi AA card I posted earlier has a 50K offer right now: http://www.aa.com/pubcontent/en_US/disclaimers/BP-PLATHV.jsp

 

I also picked up the business version of that card recently with a 50K offer.

Edited January 1, 2015 by mendelssohn

[RussInGotham]

2015 is mostly going to be a year where I build my foundation. That includes some more CU cards with the potential for high limits, and a few more no annual fee non-cobranded cards that can age with banks. Some Amexes later in the year just for the D* as well.

 

As I'm opening all of these cards, some will have to do with my rewards strategy.

 

My airline of choice will be AA. I already got a US Air card, which will turn into an AAdvantage card. If the signup bonus is right, I'll add a British Airways card later in the year to collect Avios. These will most likely be used to fly AA in North America.

 

I'm deep in with Amex for the D*, so I'll collect MR points. I may add UR or TY points to the mix later on if my spend supports it.

 

I'm not really hotel loyal, but I'm getting a Starwood card. Those points can be transferred into many airlines. That 25% bonus for 20,000 points is sweet.

 

Amtrak should also enter the mix when the time is right.

 

So by the end of 2015, I should have the following cards for my rewards strategy:

Amex PRG

Amex SPG

Barclays AAdvantage Aviator Red

Chase British Airways

 

By late 2015, or in 2016, an Amex EveryDay card, Chase Amtrak, and Citi AA Platinum card should be added as well. The Citi AA card will be churned.

[mrjuggalo9er]

upromise for online shopping 10%

did I mention upromise...gift cards for the stores I shop at

the rest a mix of ms between nasa 2%, capone venture (sign up bonus), quicksilver oldest card and a lengthy list of cu cc's including nfcu

discover will be on the dark side of the sock drawer for good

[mendelssohn]

2015 is mostly going to be a year where I build my foundation. That includes some more CU cards with the potential for high limits, and a few more no annual fee non-cobranded cards that can age with banks. Some Amexes later in the year just for the D* as well.

 

As I'm opening all of these cards, some will have to do with my rewards strategy.

 

My airline of choice will be AA. I already got a US Air card, which will turn into an AAdvantage card. If the signup bonus is right, I'll add a British Airways card later in the year to collect Avios. These will most likely be used to fly AA in North America.

 

I'm deep in with Amex for the D*, so I'll collect MR points. I may add UR or TY points to the mix later on if my spend supports it.

 

I'm not really hotel loyal, but I'm getting a Starwood card. Those points can be transferred into many airlines. That 25% bonus for 20,000 points is sweet.

 

Amtrak should also enter the mix when the time is right.

 

So by the end of 2015, I should have the following cards for my rewards strategy:

Amex PRG

Amex SPG

Barclays AAdvantage Aviator Red

Chase British Airways

 

By late 2015, or in 2016, an Amex EveryDay card, Chase Amtrak, and Citi AA Platinum card should be added as well. The Citi AA card will be churned.

 

There's a 50K offer on that Citi AA card right now.

 

The British Airways card is good for the bonus, but the CSP/Freedom combo is more powerful for earning points. BA is a transfer partner of Chase UR, Amex MR, SPG, Citi TYP and DC.

[mendelssohn]

upromise for online shopping 10%

did I mention upromise...gift cards for the stores I shop at

the rest a mix of ms between nasa 2%, capone venture (sign up bonus), quicksilver oldest card and a lengthy list of cu cc's including nfcu

discover will be on the dark side of the sock drawer for good

 

If you're going for cash back, why don't you have the other 5% cards (you only have Discover)?

 

If you have the NASA card, sock drawer that Cap1 QS and just keep it active. Why give up the extra cash back?

[RussInGotham]

I'm going for a PRG and SPG this month. That will eat up my spend for a while. I'm not doing MS at this point in time, so I have to budget spend requirements for bonuses.

 

ETA to add "not doing MS"

Edited January 1, 2015 by RussInGotham

[mendelssohn]

I'm going for a PRG and SPG this month. That will eat up my spend for a while. I'm doing MS at this point in time, so I have to budget spend requirements for bonuses.

 

I think it's a good idea NOT to count on M$ in a rewards strategy. I play around with it a little bit, but my strategy is based off of real spending. I've seen people freak out on travel blogs and forums after something gets shut down and they have no real plan.

[HoustonLynne]

... isn't going to help you if you're only ever going to hop on a Southwest flight to go to Indianapolis and stay in a HoJo.

 

I'm trying to figure out why this sounds vaguely familiar...

 

If you're going to be inspired by (and take a page from) The Misadventures of HL, please be prudent with the breadth of latitude. It wasn't a HoJo.

[mrjuggalo9er]

 

upromise for online shopping 10%

did I mention upromise...gift cards for the stores I shop at

the rest a mix of ms between nasa 2%, capone venture (sign up bonus), quicksilver oldest card and a lengthy list of cu cc's including nfcu

discover will be on the dark side of the sock drawer for good

 

If you're going for cash back, why don't you have the other 5% cards (you only have Discover)?

 

If you have the NASA card, sock drawer that Cap1 QS and just keep it active. Why give up the extra cash back?

 

discover has yet to credit cash back correctly a single time with me! anything under 2% will get a cup of coffee a month the rest will be ms

[mendelssohn]

 

 

 

 

upromise for online shopping 10%

did I mention upromise...gift cards for the stores I shop at

the rest a mix of ms between nasa 2%, capone venture (sign up bonus), quicksilver oldest card and a lengthy list of cu cc's including nfcu

discover will be on the dark side of the sock drawer for good

If you're going for cash back, why don't you have the other 5% cards (you only have Discover)?

 

If you have the NASA card, sock drawer that Cap1 QS and just keep it active. Why give up the extra cash back?

discover has yet to credit cash back correctly a single time with me! anything under 2% will get a cup of coffee a month the rest will be ms

What about the Chase Freedom and US Bank Cash+?

 

Why M$ on a 1.5% card when you have a 2% card?

[RussInGotham]

 

I'm going for a PRG and SPG this month. That will eat up my spend for a while. I'm doing MS at this point in time, so I have to budget spend requirements for bonuses.

 

I think it's a good idea NOT to count on M$ in a rewards strategy. I play around with it a little bit, but my strategy is based off of real spending. I've seen people freak out on travel blogs and forums after something gets shut down and they have no real plan.

 

I forgot the word "not." Edited it in, but I think that you figured that out.

[mendelssohn]

 

 

 

I'm going for a PRG and SPG this month. That will eat up my spend for a while. I'm doing MS at this point in time, so I have to budget spend requirements for bonuses.

 

I think it's a good idea NOT to count on M$ in a rewards strategy. I play around with it a little bit, but my strategy is based off of real spending. I've seen people freak out on travel blogs and forums after something gets shut down and they have no real plan.

I forgot the word "not." Edited it in, but I think that you figured that out.

Yes, I did.

[RussInGotham]

 

 

 

I'm going for a PRG and SPG this month. That will eat up my spend for a while. I'm doing MS at this point in time, so I have to budget spend requirements for bonuses.

 

I think it's a good idea NOT to count on M$ in a rewards strategy. I play around with it a little bit, but my strategy is based off of real spending. I've seen people freak out on travel blogs and forums after something gets shut down and they have no real plan.

I forgot the word "not." Edited it in, but I think that you figured that out.

Yes, I did.

 

[donuteric]

I fly a lot for work, but will likely be grounded for the next six months, so spending in 2015 will be reduced by quite a bit. For personal travel, I routinely have a few short hauls out of BOS and one or two BOS/JFK-HKG/NRT-SIN per year. So the strategy for 2015 will be:

 

Arrival+: I am charged 1.6% for paying rent, and will continue to do so until Barclay decides to not waive my AF.

Freedom: 5% categories

CSP: Dining and travel

Everyday Preferred: Everyday spending outside of the above.

 

My goal is to redeem a few short hauls by Avios-AA and to have enough points for one trip to SIN in premium cabin. If redeeming SQ, will use the Arrival+ to offset the expensive surcharges.

[mendelssohn]

I fly a lot for work, but will likely be grounded for the next six months, so spending in 2015 will be reduced by quite a bit. For personal travel, I routinely have a few short hauls out of BOS and one or two BOS/JFK-HKG/NRT-SIN per year. So the strategy for 2015 will be:

 

Arrival+: I am charged 1.6% for paying rent, and will continue to do so until Barclay decides to not waive my AF.

Freedom: 5% categories

CSP: Dining and travel

Everyday Preferred: Everyday spending outside of the above.

 

My goal is to redeem a few short hauls by Avios-AA and to have enough points for one trip to SIN in premium cabin. If redeeming SQ, will use the Arrival+ to offset the expensive surcharges.

Have you considered getting the Chase BA card for the 50K signup bonus?

 

It looks like you've thought out your strategy pretty well.

[donuteric]

 

I fly a lot for work, but will likely be grounded for the next six months, so spending in 2015 will be reduced by quite a bit. For personal travel, I routinely have a few short hauls out of BOS and one or two BOS/JFK-HKG/NRT-SIN per year. So the strategy for 2015 will be:

 

Arrival+: I am charged 1.6% for paying rent, and will continue to do so until Barclay decides to not waive my AF.

Freedom: 5% categories

CSP: Dining and travel

Everyday Preferred: Everyday spending outside of the above.

 

My goal is to redeem a few short hauls by Avios-AA and to have enough points for one trip to SIN in premium cabin. If redeeming SQ, will use the Arrival+ to offset the expensive surcharges.

Have you considered getting the Chase BA card for the 50K signup bonus?

 

It looks like you've thought out your strategy pretty well.

 

 

Absolutely, but I will unlikely to app until mid 2015.

[andersons]

I am very interested in this discussion. But I have a more basic question: how exactly do you extract so much value from points??

 

I now have a clean but extremely thin file and am researching what cards to app. My file consists of

1) Amex Blue AU (MS 2002). Husband is cardholder. We have ~60,000 MR points, and I don't see how to get more than 0.5 cents per point out of them.

2) JCP closed 2005. Will fall off in a few months.

 

A Macy's card closed some unknown time ago should probably be reporting but isn't.

 

I also have Discover Platinum AU card (MS 2002) which has never reported to my file. (I used my "married" name when I got it, but then never really changed my legal name.) 1% cash back plus rotating categories (which I have never taken advantage of). We have over $1000 cash back racked up, which I know is rather dumb and I should just log in and use it somehow. I shop on Amazon a lot, always see the "use your Discover cash back on Amazon," but then when I go to check out get a message that there is some problem, won't let me do it.

 

I do not yet know my FICO because I hate spending to see it, but I'm researching the cards I want, and once I have my apps planned, I will use a 7- or 30-day trial to see my score, then check the creditpulls database, and track my score over my initial spree.

 

I do not travel for work any more, but wouldn't mind travel rewards for a flight. I live in OC, CA, and my mother lives in New Hampshire, and I have a toddler. Flights from OC to NH are $$$. My last few flights have been with Southwest. I used to like JetBlue out of Long Beach, but the schedule is now painful. People don't seem to like the JetBlue rewards card. We don't eat at restaurants very much, but spend about $700 per month at Trader Joe's. We buy quite a lot from Costco, and have some sort of cash back deal for Costco through the Amex Blue card. It pays (at least) for Executive membership. I also shop at Target and occasionally Nordstrom. And I buy a lot of stuff on eBay and Amazon. We spend very little on gas; we actually bike to work and even to Trader Joe's for our groceries.

 

I'm opted out since cleaning up ID theft a few years ago, but I get a few targeted offers in the mail:

1) Southwest Rapid Rewards Premier (BofA) with 50,000 points signup bonus. This is better than the standard 25,000 offer, but with $99 AF with 6,000 anniversary points bonus. Don't know if that's worth it. 2 points per $ spent at SW and hotel/car partners. 1 summer flight SNA -> MHT is about 70,000 points right now! Ouch!

2) Bank Americard Cash Rewards Visa. (I don't know how I got this offer; maybe they got my info from my Southwest FF, or maybe through Merrill Brokerage account?) $100 signup, no AF, 3% gas, 2% grocery, 1% everywhere.

3) I've gotten Amex offers but not recently.

 

So, my list of possible apps:

1) Nordstrom? Might be nice to have when I do shop there. They are INQ sensitive so maybe I should apply now with my clean file?

2) AMEX is obviously top priority for the D*. BCP for 6% groceries as long as they recognize Trader Joe's.

3) Fidelity AMEX. 2% everywhere. I don't know if it helps with the app, but I have a brokerage account.

3) Chase Freedom. $100 signup bonus, 5% grocery Jan-Mar.

4) Amazon Rewards. 3% Amazon.

5) Union Bank Graphite Amex? 3% airline, 2% gas & grocery, 1%. $99 AF 2nd year. I have longtime Union Bank checking which I will close soon due to new fees.

6) TD Easy Rewards Visa. $100 after $500 spend/90 days. 5X points for 6 months on grocery, gas, dining, utilities. I have TD Ameritrade brokerage account.

7) Target?

8) Lowe's, maybe. We will be remodeling soon, and if I can plan a major purchase at Lowe's, 10% initial discount or 5% ongoing could be quite nice. I never read here about Home Depot card, but a lot of time Home Depot, not Lowe's, has products want, like Cree high-CRI LED bulbs with warranty, attractive value bathroom vanities, etc.

 

I also want accounts that provide free FICOs and have to work those into my plan.

 

I also want a prybar, but I don't see too many recommended CUs I am eligible to join. Penfed, NASA? I'm eligible for SchoolsFirst in OC but don't know what limits they give.

 

I highly appreciate any advice! One other question I have: it is often recommended to app for Amex revolver AND charge card. I've looked at the charge cards and don't see the benefit if I don't travel a lot. Should I still do this?

 

OK, so just as I'm finishing this post, I see a suggested thread below, "Maximizing value of Amex Rewards Redemptions," and am off to read...

[RussInGotham]

I am very interested in this discussion. But I have a more basic question: how exactly do you extract so much value from points??

 

I now have a clean but extremely thin file and am researching what cards to app. My file consists of

1) Amex Blue AU (MS 2002). Husband is cardholder. We have ~60,000 MR points, and I don't see how to get more than 0.5 cents per point out of them.

2) JCP closed 2005. Will fall off in a few months.

 

A Macy's card closed some unknown time ago should probably be reporting but isn't.

 

I also have Discover Platinum AU card (MS 2002) which has never reported to my file. (I used my "married" name when I got it, but then never really changed my legal name.) 1% cash back plus rotating categories (which I have never taken advantage of). We have over $1000 cash back racked up, which I know is rather dumb and I should just log in and use it somehow. I shop on Amazon a lot, always see the "use your Discover cash back on Amazon," but then when I go to check out get a message that there is some problem, won't let me do it.

 

I do not yet know my FICO because I hate spending to see it, but I'm researching the cards I want, and once I have my apps planned, I will use a 7- or 30-day trial to see my score, then check the creditpulls database, and track my score over my initial spree.

 

I do not travel for work any more, but wouldn't mind travel rewards for a flight. I live in OC, CA, and my mother lives in New Hampshire, and I have a toddler. Flights from OC to NH are $$$. My last few flights have been with Southwest. I used to like JetBlue out of Long Beach, but the schedule is now painful. People don't seem to like the JetBlue rewards card. We don't eat at restaurants very much, but spend about $700 per month at Trader Joe's. We buy quite a lot from Costco, and have some sort of cash back deal for Costco through the Amex Blue card. It pays (at least) for Executive membership. I also shop at Target and occasionally Nordstrom. And I buy a lot of stuff on eBay and Amazon. We spend very little on gas; we actually bike to work and even to Trader Joe's for our groceries.

 

I'm opted out since cleaning up ID theft a few years ago, but I get a few targeted offers in the mail:

1) Southwest Rapid Rewards Premier (BofA) with 50,000 points signup bonus. This is better than the standard 25,000 offer, but with $99 AF with 6,000 anniversary points bonus. Don't know if that's worth it. 2 points per $ spent at SW and hotel/car partners. 1 summer flight SNA -> MHT is about 70,000 points right now! Ouch!

2) Bank Americard Cash Rewards Visa. (I don't know how I got this offer; maybe they got my info from my Southwest FF, or maybe through Merrill Brokerage account?) $100 signup, no AF, 3% gas, 2% grocery, 1% everywhere.

3) I've gotten Amex offers but not recently.

 

So, my list of possible apps:

1) Nordstrom? Might be nice to have when I do shop there. They are INQ sensitive so maybe I should apply now with my clean file?

2) AMEX is obviously top priority for the D*. BCP for 6% groceries as long as they recognize Trader Joe's.

3) Fidelity AMEX. 2% everywhere. I don't know if it helps with the app, but I have a brokerage account.

3) Chase Freedom. $100 signup bonus, 5% grocery Jan-Mar.

4) Amazon Rewards. 3% Amazon.

5) Union Bank Graphite Amex? 3% airline, 2% gas & grocery, 1%. $99 AF 2nd year. I have longtime Union Bank checking which I will close soon due to new fees.

6) TD Easy Rewards Visa. $100 after $500 spend/90 days. 5X points for 6 months on grocery, gas, dining, utilities. I have TD Ameritrade brokerage account.

7) Target?

8) Lowe's, maybe. We will be remodeling soon, and if I can plan a major purchase at Lowe's, 10% initial discount or 5% ongoing could be quite nice. I never read here about Home Depot card, but a lot of time Home Depot, not Lowe's, has products want, like Cree high-CRI LED bulbs with warranty, attractive value bathroom vanities, etc.

 

I also want accounts that provide free FICOs and have to work those into my plan.

 

I also want a prybar, but I don't see too many recommended CUs I am eligible to join. Penfed, NASA? I'm eligible for SchoolsFirst in OC but don't know what limits they give.

 

I highly appreciate any advice! One other question I have: it is often recommended to app for Amex revolver AND charge card. I've looked at the charge cards and don't see the benefit if I don't travel a lot. Should I still do this?

 

OK, so just as I'm finishing this post, I see a suggested thread below, "Maximizing value of Amex Rewards Redemptions," and am off to read...

 

 

See if you can convert your Discover to an "it." That will get you a free TU 08 FICO every month where there is activity on the account.

 

You should able to get a free Eq 08 FICO from Citi, with any of their non-cobranded cards, in the coming months.

 

Amex is supposedly rolling out Ex 08 FICO.

 

That Fidelity Amex won't help with D*, but it might become a prybar. You should open a cash management account with Fidelity too.

 

The Chase Freedom is an excellent card to have.

 

I'd avoid the Amazon card. Get the Sallie Mae card instead. 5% cash back on groceries, gas stations, and book stores. Amazon is usually coded as a book store.

 

That Union Bank card looks awful in the second year.

 

TD is awful after six months.

 

Target is an excellent store. Their card, however, is CLI-challenged.

[RussInGotham]

1) Amex Blue AU (MS 2002). Husband is cardholder. We have ~60,000 MR points, and I don't see how to get more than 0.5 cents per point out of them.

 

Can you transfer them to British Airways? If so, you can use BA to book flights on American. If not, then you need to think about redeeming those points, closing the card, and getting an Amex EveryDay.

[Konrad2012]

I am thinking of apping the JetBlue Amex.

 

Jet Blue is in talks to replace Amex for their card management at the end of 2015...so you could possibly get two Jet Blue sign up bonuses (the Amex and their new card) and then just cancel the Amex or see what Amex offers as a PC/retention offer.

 

Thinking of doing this one early so the 13 statements to CL transfer comes that much sooner.

 

Jet Blue sucks but they go all over the Caribbean and to Cancun.

Edited January 1, 2015 by Konrad2012

[RussInGotham]

I am thinking of apping the JetBlue Amex.

 

Jet Blue is in talks to replace Amex for their card management...so you could possibly get two Jet Blue sign up bonuses (the Amex and their new card) and then just cancel the Amex or see what Amex offers as a PC/retention offer.

 

Jet Blue sucks but they go all over the Caribbean and to Cancun.

 

JetBlue points don't expire, which is a great feature. Just make sure that you click on the link from the JetBlue website to get the annual fee waived for the first year, and 20K points instead of 10K .

[donuteric]

 

1) Amex Blue AU (MS 2002). Husband is cardholder. We have ~60,000 MR points, and I don't see how to get more than 0.5 cents per point out of them.

 

Can you transfer them to British Airways? If so, you can use BA to book flights on American. If not, then you need to think about redeeming those points, closing the card, and getting an Amex EveryDay.

 

 

The AA redemption through BA is particularly good for short distance, especially less than 650 miles.

[Konrad2012]

The 20k points and AF waiver is the standard offering on the Amex website.

 

I would set up a frequent flyer account with Jet Blue first and see if I get a targeted special offer

[RussInGotham]

The 20k points and AF waiver is the standard offering on the Amex website.

 

I would set up a frequent flyer account with Jet Blue first and see if I get a targeted special offer

 

They were offering me 10K with the annual fee when I was logged in. Got around it by clicking from the jetBlue site.