Credit Cards Worth Keeping?

[ushdadude]

Are there any cards worth keeping long term or are all cards meant to be churned?
Whenever Dan has a credit card post he lists the advantages of certain cards. For example, he is a fan of SPG for general spending and the sapphire preferred for international spending.
Does that mean certain cards are worth keeping or should you still close them and replace them with similar cards?

[Marco Polo]

Are there any cards worth keeping long term or are all cards meant to be churned?
Whenever Dan has a credit card post he lists the advantages of certain cards. For example, he is a fan of SPG for general spending and the sapphire preferred for international spending.
Does that mean certain cards are worth keeping or should you still close them and replace them with similar cards?

It may depend on what you are doing with your points/miles. If you need to "store" certain points, it may be worthwhile to keep a card open.

For one, the Chase Freedom is a no AF card and will hold all UR points you earn...

[ushdadude]

So a card like SPG, is it worth keeping open to accrue SPG points or is it better to close and churn?
The same question can be asked about pretty much every card since they each have different features that make them good (eg sapphire for international, united for baggage, etc)

[@Yehuda]

So a card like SPG, is it worth keeping open to accrue SPG points or is it better to close and churn?
The same question can be asked about pretty much every card since they each have different features that make them good (eg sapphire for international, united for baggage, etc)

I think it's a valid Q. There is a thread about Retention Bonuses, but I don't really get it - calling to fight for a couple thousand bonus miles or to get some of the fee credited back to you. I would think to just drop the card after you get the bonus (and churn - still learning how that works) assuming you don't want the spending benefits. So I would keep cards like SP but not SW/BA bc really their only benefit seems to be when you spend $ on flights (otherwise it's just 1% like every card), but the goal here is to get free flights, isn't it?

[Marco Polo]

So a card like SPG, is it worth keeping open to accrue SPG points or is it better to close and churn?
The same question can be asked about pretty much every card since they each have different features that make them good (eg sapphire for international, united for baggage, etc)

This is all JMHO and may not be the case for everyone in all scenarios.

A card which has a 12 month wait time, is one i would close down and wait for the next bonus, unless the benefit is something i truly value.
A lot of cards don't have a set wait time, or they are shorter, making it easier to churn and keep the benefits.

A lot of people are churning under multiple SS#'s (spouse or someone else) which makes churning the "12 mont wait cards" not bad.
For example, the SPG card. One can get the bonus and keep it for a period of time and then apply for it under another SS #. This way you ca get the benefits of the card, and the signup bonus, sooner than a year.

[@Yehuda]

This is all JMHO and may not be the case for everyone in all scenarios.

A card which has a 12 month wait time, is one i would close down and wait for the next bonus, unless the benefit is something i truly value.
A lot of cards don't have a set wait time, or they are shorter, making it easier to churn and keep the benefits.

A lot of people are churning under multiple SS#'s (spouse or someone else) which makes churning the "12 mont wait cards" not bad.
For example, the SPG card. One can get the bonus and keep it for a period of time and then apply for it under another SS #. This way you ca get the benefits of the card, and the signup bonus, sooner than a year.

Isn't it obvious that you could use a spouse's SS - even the same day and get both bonuses?

[@Yehuda]

I'm also curious what people's thoughts are on keeping the SW card. Is the $99 AF worth the 6000 annual bonus miles they give you? Especially now that after March '14 it will cost more miles to book a flight.

[ushdadude]

Isn't it obvious that you could use a spouse's SS - even the same day and get both bonuses?

Marco Polo's point was that if you always want a SPG card in your wallet but still want to be able to get the signup bonus, you can stagger you and your wife's ss

[@Yehuda]

Marco Polo's point was that if you always want a SPG card in your wallet but still want to be able to get the signup bonus, you can stagger you and your wife's ss

Gotcha. There should be a way to like a comment instead of making a comment that just says thanks or acknowledges the point made.

[ushdadude]

So I guess the answer is no...there is no card worth keeping (unless you're married :-) )

[itsyehuda]

United Mileage Plus Club Card.

[ushdadude]

United Mileage Plus Club Card.

why?

[itsyehuda]

why?

So you can book last minute united awards without paying $75 close in fee, and so you can access United Clubs.

[gozalim]

Chase freedom

[bubbles]

So I guess the answer is no...there is no card worth keeping (unless you're married :-) )

If you still have this I would not let it go
http://forums.dansdeals.com/index.php?topic=10824.0

[midnightinharlem]

The only card that I've found to be worthwhile to keep and pay the AF is the Amex BCP, as the 6% cashback on groceries up to $6000 exceeds the opportunity cost of that spend elsewhere plus the annual fee. CSP, Chase Ink Bold/Plus, Amex Plat, Amex PRG, SPG are close and churn. Airline and hotel cards are likely personal preferences depending on your redemption plan/pattern..