Questions and Answers

Can you update what credit cards are in your wallet what’s your strategy during this pandemic?

I posed a similar question a few days ago and didn’t get much of a response either. I went ahead and decided to update all my cards today. Based my decisions on the following:
UA Infinite Card: I have 1K status on UA so I upgraded to the Infinite card to throw some easy miles into the account as my work travel has gone to zero. 100k sign on bonus, $5k min spend, and $525 annual fee…received instant approval
AA Citi Platinum: I’m based in Dallas so wanted to pad the AA account for direct overseas flights when flying with family vs connecting on UA. 50k sign on bonus, $2,500 min spend with $99 annual fee…awaiting approval
AMEX Platinum: until yesterday, I was seeing a 60k sign up bonus, but when I applied it was 75k. Chose this for easy mileage transfers and 5x on certain spend. 75k sign on, $5,000 min spend with $550 annual fee…received instant approval
Chase Sapphire Preferred: liked the same flexibility for transfer as AMEX. 60k sign up bonus, $4,000 minimum spend with a $95 annual fee. Awaiting approval

Good question. You have to wonder whether to dump those big fee travel cards (especially the ones whose big benefit is lounge access) that aren’t useful due to the current travel restrictions if they’re coming due unless they make a retention offer that waives part of the fee or offers something useful. I’m in a wait and see mode but I’d like to hear what others are doing.

I’m debating getting a new card but trying to decide which one. I’m having some significant work done on my house and will easily be able to meet minimum spend. Trouble is the cards I have are the ones that work for me. I could get the Alaska card but am a little hesitant to get an airline-specific one. If we get to travel in October I have a paid hotel stay I’m looking to erase with my Barclays ArrivalPlus so could get the CapOne Venture which works similarly and I’d get the signup bonus to help. I don’t forsee Chase granting me any more credit as I have quite a bit spread over several cards. Open to other options though!

I’m spending a lot on food these days due to the shelter in place so my Amex Blue with 6% back on food is working out well. Right now with all the uncertainty about when restrictions will be lifted, it’s hard to get your head into the credit card game.

Because I am not traveling for work my Amex Business Plus is getting the bulk of my biz spend. Personal spend for groceries is on the Amex Gold. Just about everything else is on the Chase Freedom Unlimited for now, including when the kids’ tuition comes due. Amex Biz Plat and Chase Ink Biz have been sidelined for the most part for the time being.

A difficult one right now. Any cards designed specifically for travel that offer travel specific benefits (so Uber/Lyft credits, lounge access, free checked baggage, TSA Pre or GE credit, those types of things) are of little use right now, to the point of not really justifying their usual CC fees (unless you can get them waived). The ones that seem to make sense to me are grocery credits, fuel credits, and cash back.

We all know these restrictions will eventually be lifted. We just don’t know when or how. Until that happens, making sense of any of this will be difficult.

I also took Gilbert’s advice from here ([URL]https://www.godsavethepoints.com/amex-has-lucrative-premium-card-retention-offers/[/URL]) and called Amex about cancelling or downgrading my Platinum card. I was offered 30,000 points for spending $4,000 in the next 90 days to stick around. So, now all my spending is going there temporarily 🙂

Some great data in this thread.

Personally, I didn’t really think of a strategy because I’m simply looking to save money as much as possible at the moment, and limit my spending to essentials. I’m fortunate that I have a job where I can work from home, but all of that can stop any day so at the moment and until things have stabilized, quite frankly, cash is king as far as I’m concerned.

I think that right now I have something like 22 credit cards, and I’m probably going to close a few that I never use, even though those usually don’t have high fees. I’m definitely conflicted about what to do with my Amex Plat and CSR, but I will reassess when the annual fee is due. Although I am now tempted to look around for retention offers 😉 .

And for what I have to spend, I mostly user my Amex Gold for 4 points on groceries and 4 points on food deliveries + Seamless credits, my Chase Hyatt for my gym that provides online classes, and my Amex Blue Biz+ for 2 points on everything else.