What's In Your Wallet?

[Dan]

Should work, but for smaller spenders and/or for people who prefer miles Chase has better offers for a 3bm IMHO.

+1.
Even if you spend $10K in 6 months you still only get $500.
Versus $10K on another card which would give 50K miles+~12K for the spending.
Even at a very conservative 1.7 cpp that's $1,050 versus $500 on AARP.

[HelpMe]

I don’t want to get into a p***ing contest but if you are churning substantial amounts each month there is no comparison between cash back and miles/points. The second thing everyone seems to forget is you are not comparing apples to apples. You have a very small option on what can be done with miles/points.

[AsherO]

I don’t want to get into a p***ing contest but if you are churning substantial amounts each month there is no comparison between cash back and miles/points. The second thing everyone seems to forget is you are not comparing apples to apples. You have a very small option on what can be done with miles/points.

It's not a pi**ing contest, it's different people's preferences/spending habits compared to other people. If a new AARP every 6-months works best for you, go for it. Personally, I just got an Amex biz rewards gold that'll give me a 75k bonus after $10k spend, which is worth way more (at least to me, they can easily be flipped to a broker for >1.3) than the $500 I'd get with a 5% card.

[HelpMe]

That is why I said "substantial amounts". Let’s take a conservative figure of 50k (don’t ask) spend a month. What card will beat the AARP card?

[AsherO]

That is why I said "substantial amounts". Let’s take a conservative figure of 50k (don’t ask) spend a month. What card will beat the AARP card?

At 5% flat it's hard to beat, but please admit $50k a month isn't typical.

There are also other possible considerations for people with that kind of spending, such as cards that earn EQMs or points towards (lifetime) status with an airline.

[HelpMe]

At 5% flat it's hard to beat, but please admit $50k a month isn't typical.

True.

We are talking in general and not for any one member. 

[Dan]

conservative figure of 50k

ROFL!

[HelpMe]

ROFL!

What is so funny?

[Dan]

What is so funny?

$50K/month is not a conservative figure by any stretch of the imagination by for 99.9% of people.
Yes, in that extreme situation anyone will agree to take the 5% for 6 months and run with it.

[HelpMe]

$50K/month is not a conservative figure by any stretch of the imagination by for 99.9% of people.

Sorry, I wasn’t referring to 99.9% of the people.

[good sam]

Sorry, I wasn’t referring to 99.9% of the people.

We are the 99!!
-Occupy Dansdeals

[HelpMe]

We are the 99!!
-Occupy Dansdeals

...and what do you call the 1% around these parts?

[Drago]

...and what do you call the 1% around these parts?

Dan

[spetropo]

Here is what I have, just started so I have a few cards from long ago that do nothing (I think). So with that, I am also looking for advice on which (If any) to cancel and to keep etc.  Of course the gas cards only benefit is paying the cash price, HSBC and Barclay have only because I have had forever I dont think they have any points. The universal to me seems useless. Should I cancel them if they do not have a yearly fee or should I just hold them?
Thanks
S

Citi
Hilton (2)
Thank You

Chase
Freedom
Hyatt
Continental OnePass

Capital One
Venture

Amex (GE Money?)
Universal

Barclays
BarclayCard Rewards

HSBC
Platinum

Gas Cards
Sunoco
Gulf
Citgo
Shell

Department Store
Kohls

Debit
Paypal

[AJK]

I don't see a compelling reason to cancel a card (especially if its an older one) that does not charge an annual fee.

[spetropo]

Thanks, how about gas cards, would it be better to use lets say the Citi Hilton card for gas with 3 point per dollar for gas or the gas card?
S

[AJK]

Thanks, how about gas cards, would it be better to use lets say the Citi Hilton card for gas with 3 point per dollar for gas or the gas card?
S

Depends on what the Gas cards give

[spetropo]

nothing afaik except for gas at the cash price

[AJK]

nothing afaik except for gas at the cash price

Depending on the gas in your neighborhood, it may be worth it to use the gas cards.

In my neighborhood, I'd save anywhere from 4-6 % if I used a card that gave me the cash price.

That being said, I'd use the freedom when gas is one of the 5% rotating categories.

[bem684]

An update:
I am the primary cardholder on the following accounts (an asterisk denotes that the card is actually in my wallet at the time of this writing):


Citi
AA Visa
Hilton*

Chase
Freedom*
Continental OnePass* (I closed my old one in September and opened a new one this month)
United
Sapphire Preferred*

Capital One
No Hassle Rewards

Amex
Blue Cash
SPG Consumer (x2)*

Sovereign Bank
Sovereign Bank Mastercard (one of my oldest cards I just keep for the account age and no fee)

Department Stores
Kohls*

That's 12 accounts in my name.  I am also an AU on two of my wife's accounts (Capital One No Hassle Rewards and Amex PRG*)

7 of 14 total cards are in my wallet at the moment.  Two will be removed soon when I meet the spending requirements.