I love credit cards so much! v2.0 (see first page for add'l details)

[wanderlust7]

Good to know about AMEX and regular spending. This would be my first AMEX. I know nothing about them.

Okay, so I will definitely want to wait to earn the CP in early 2020!

Since you're brand new to AmEx - there is a targeted offer on the personal Platinum card of 100k MRs for $5000 MSR. The prevailing theory is that if you're new to AmEx you're more likely to be targeted and once you have your first AmEx card you're less likely to be targeted. You can check on CardMatch and directly on AmEx website to see if you're targeted.

It is a personal card and will add to your 5/24. And the annual fee is high. So you may not want to keep it past the first year - which may also increase your risk of not being offered future AmEx bonuses (the dreaded pop-up).

MRs (Membership Reward points) can be transferred to airline partners or cashed out at 1.25 cent per point if you also get the Charles Schwab Platinum card. Making the bonus worth $1250. AF is $550 but can be mitigated (or even profitable double dipping) if you have use of the perks. There is a $200 airline incidental credit (meant for fees like seat selection, baggage, change fees), but current loophole exists so you can also buy Southwest gift cards or Delta (may have to be smaller increments and only on PC). It is a loophole though, the ability to buy AA gift cards was recently closed. There are also Uber credits, Saks, TSA Precheck/Global entry credit, and airport lounge access.

I don't know if it's a good fit for you at this point. But just wanted to mention it since you may be less likely to get this offer once you get your first AmEx card.

 

[georgina]

You should wait at least 1 hour before swimming in the CIP spouse waters after getting your CIP...

As soon as you can generate a referral link for your spouse, I say GO for it! The sooner you get a card, the sooner you can get ANOTHER Card

Thanks! Now I'm thinking I should do the Bonvoy business first before 3/28 (won't count against my /24 spaces, right?) and hold off a bit on the CIP for him. Decisions, decisions!

 

[jujubiee4]

I went through some large "clean-ups" for me and my wife awhile back. The general advice is don't close cards with no AF, but I got concerned when I started to have 3x my annual income in combined credit limits. I closed a bunch of cards I had no use for:

• I closed both my Barclays cards which ended up being a good thing as they seem to deny people with open cards who aren't using them. They approved me since I currently had no cards with them, lol
• I closed all my BoA cards because BoA is the devil...(at least IMO)
• I closed my Wells Fargo card because the website was garbage and I was tired of having connection issues in Mint
• I closed my TD Bank card because it seemed easier than trying to reduce the CL (and it was a super high limit that I wanted gone)
• I closed my AARP Chase cards that I didn't need, but I left open things like Disney (for support clicks), IHG (to keep pts active), etc. and just reduced the CLs WAY down
• I obviously close a lot of cards that have AFs and no fee-free downgrade option

The "reduce CL" with BoA trick is apparently something DoC recently posted on that you should do because they have a wonky system and closed CLs stay on your account record for a year. I haven't heard of that problem with any other card issuers.

Really it comes down to what makes you comfortable. I wanted to make my "open" credit profile look slightly more like a normal person. So I cancelled a ton of cards and reduced a bunch of limits. It made me feel better, and my wife has had no issue with approvals since getting under 5/24

Thank you.

I plan on closing Barclay also in June after I get that last redemption. That and Citi Discover Cap1 Amex etc just "sitting" around.
I'm the type that feels bad when i use the points and close the card so I keep it 2/3 years lol.

I really wish i would have read your advice before to someone in the older thread about opening cards for your trip needs and not just
to open/chase bonuses. Heck in 2017 I would have chased rabbits if i would have gotten some bonus carrots.

 

[jujubiee4]

Your profile is similar to mine other than that I applied for my last few cards in 2018. But I easily have 14 plus accounts most of which I don't use. I did close my Southwest card which has an annual fee this past fall.

However I'm not about to close any card that either has no annual fee or that has an annual fee but gives a yearly credit, other than the Southwest. Age of accounts is taken into account when applying. The cards I don't use regularly will be closed if as in the case of Amex, I want to open something else that will give me more value - as Amex has a limit to the number of credit cards allowed. On here that is quoted as five. I would not close the cards that are over 20 plus years old.

Yeah I have a 20 yr old green Amex that i will keep open AF is 55. I will always keep that just for offers..lol I want to close the everyday one
though even with no fee it doesnt get used because of having the Premier/Gold one that groceries now go on.

I would love to keep open just 5 or 6 main ones that i USE. Now i have about 13 or 14 with 9 not being used and most of those no a/f.

 

[Judique]

Yesterday we had a balmy 75 degrees and today we are at 52 degrees so I'm freezing again.

Every time I read, I'm tempted by what I read about to open a card. I want the Amex Plat 100K offer with 5K spend, but it's just not a good idea right now as it will add to my 5/24 and hold me back from my UR plan. I can do it later once I have my other ducks in my wallet.

Anyway I'll keep reading and 'liking' when someone else gets approved, because in a bunch of months it will be me, my turn!!!!

 

[SouthFayetteFan]

Thanks! Now I'm thinking I should do the Bonvoy business first before 3/28 (won't count against my /24 spaces, right?) and hold off a bit on the CIP for him. Decisions, decisions!

Are you able to refer him (or self refer) to the Bonvoy Biz? That's a good offer, especially if you're getting both the signup and support points!

 

[SouthFayetteFan]

...once I have my other ducks in my wallet...

I loved how you put this...but I also have to ask, was that ducks IN your wallet...or ON your wallet??

Was it this kind of duck:

Or this kind:

Sorry,I had to...

 

[Judique]

Yeah I have a 20 yr old green Amex that i will keep open AF is 55. I will always keep that just for offers..lol I want to close the everyday one
though even with no fee it doesnt get used because of having the Premier/Gold one that groceries now go on.

I would love to keep open just 5 or 6 main ones that i USE. Now i have about 13 or 14 with 9 not being used and most of those no a/f.

Most of my annual fees are hotel cards - 8 of them, so they pay their way. Amex has paid it's way in offers over all 5 cards.

I just sock them away and forget about the ones I'm not using. I'll check the accounts to watch for anything unusual, but they really don't bother me.

My Rose Gold has a way of making me use it the most. Groceries and restaurants and offers. It's making me neglect my other Amex cards.

 

[Judique]

I loved how you put this...but I also have to ask, was that ducks IN your wallet...or ON your wallet??

Was it this kind of duck:

Or this kind:

Sorry,I had to...

I like the yellow ones best! But I wouldn't want them 'on' my wallet. Maybe in the bath tub......

 

[palhockeymomof2]

This thread is such a bad influence on me! I have always said I did not want to go for business cards, but after seeing all the CIP recommendations I broke down and got one. I will have no problem meeting the MSR, so now I am wondering if there is an amount of time I should wait before referring DH for one? We will have a large amount of medical expenses coming up so would like to get him a new card for them!

As long as you have a plan to meet the MSR...you can generate a link from your CIP as soon as you get it to refer DH

 

[kittykorat]

5% cash back, earned as 5x Ultimate Rewards points.

The current quarter (Q1 Jan-March) is gas and drug stores, next quarter (Q2 April-June) is grocery stores and home improvement stores. Q3 (July-Sept) has usually been restaurants and entertainment. Other past quarterly bonus categories have included specific stores like Target, Walmart, Walgreens; mobile wallets like Apple Pay, Samsung Pay, Chase Pay; warehouse clubs like Costco, BJ's, and Sam's Club; department stores; ride hailing services like Uber or Lyft.

The great thing about drug stores, grocery stores, home improvement stores, and mobile wallets when they're the bonus category is you can use them to buy third-party gift cards to hundreds of other retailers. Take a look at the gift card rack at your local Walgreens, CVS, supermarket, Lowe's or Home Depot, or places that accepts mobile payments like Best Buy and Target. You can use your Chase Freedom at these stores, buy a gift card to another merchant (Amazon, Disney, gas, restaurants, retailers, Netflix, etc.), earn 5x UR on that purchase, and spend the gift card elsewhere. So this method can really expand the Chase Freedom's bonus categories to hundreds of other merchants.

These are excellent points and have me leaning towards the Chase Freedom card. The 5% bonus rewards, plus 15 months interest free introductory offer and no annual fee sounds great. Plus I can use the bunus categories to buy gift cards for essentially 5% off. Thanks!!

 

[jujubiee4]

Yesterday we had a balmy 75 degrees and today we are at 52 degrees so I'm freezing again.

Every time I read, I'm tempted by what I read about to open a card. I want the Amex Plat 100K offer with 5K spend, but it's just not a good idea right now as it will add to my 5/24 and hold me back from my UR plan. I can do it later once I have my other ducks in my wallet.

Anyway I'll keep reading and 'liking' when someone else gets approved, because in a bunch of months it will be me, my turn!!!!

When the 100k Amex pops up I have to physically close message and laptop and walk away for a while. It is THAT TEMPTING
to me. Like you I have UR plan I want to get that one last Chase card.

Heck after a few more target/bucketlist trips it will be back to pinching pennies for DCL lol

 

[georgina]

Are you able to refer him (or self refer) to the Bonvoy Biz? That's a good offer, especially if you're getting both the signup and support points!

I have no clue! I can check. He has a gold AmEx, I have the blue cash preferred.

 

[mamalovesdis]

Since you're brand new to AmEx - there is a targeted offer on the personal Platinum card of 100k MRs for $5000 MSR. The prevailing theory is that if you're new to AmEx you're more likely to be targeted and once you have your first AmEx card you're less likely to be targeted. You can check on CardMatch and directly on AmEx website to see if you're targeted.

It is a personal card and will add to your 5/24. And the annual fee is high. So you may not want to keep it past the first year - which may also increase your risk of not being offered future AmEx bonuses (the dreaded pop-up).

MRs (Membership Reward points) can be transferred to airline partners or cashed out at 1.25 cent per point if you also get the Charles Schwab Platinum card. Making the bonus worth $1250. AF is $550 but can be mitigated (or even profitable double dipping) if you have use of the perks. There is a $200 airline incidental credit (meant for fees like seat selection, baggage, change fees), but current loophole exists so you can also buy Southwest gift cards or Delta (may have to be smaller increments and only on PC). It is a loophole though, the ability to buy AA gift cards was recently closed. There are also Uber credits, Saks, TSA Precheck/Global entry credit, and airport lounge access.

I don't know if it's a good fit for you at this point. But just wanted to mention it since you may be less likely to get this offer once you get your first AmEx card.

I'll check and see if I'm targeted. Is the Charles Schwab Platinum card another personal card that I would get later? $550 is the AF for which card?

 

[SouthFayetteFan]

These are excellent points and have me leaning towards the Chase Freedom card. The 5% bonus rewards, plus 15 months interest free introductory offer and no annual fee sounds great. Plus I can use the bunus categories to buy gift cards for essentially 5% off. Thanks!!

For somebody looking for an everyday card, Freedom really isn't a bad idea! Many of us here have Freedom cards. You've had some people give you great advice here, please consider signing up for DISchurners and supporting a fellow DISer if you apply

 

[SouthFayetteFan]

I have no clue! I can check. He has a gold AmEx, I have the blue cash preferred.

Yes - you should be able to refer yourself (or each other) to that card! It would come down to whether you want to earn some more MRs from the support click or $75 cash back. With AMEX branded cards, you can generate a link for ANY Amex card (just make sure it's for the BEST offer before applying).

 

[SouthFayetteFan]

Since you're brand new to AmEx - there is a targeted offer on the personal Platinum card of 100k MRs for $5000 MSR. The prevailing theory is that if you're new to AmEx you're more likely to be targeted and once you have your first AmEx card you're less likely to be targeted. You can check on CardMatch and directly on AmEx website to see if you're targeted.

It is a personal card and will add to your 5/24. And the annual fee is high. So you may not want to keep it past the first year - which may also increase your risk of not being offered future AmEx bonuses (the dreaded pop-up).

MRs (Membership Reward points) can be transferred to airline partners or cashed out at 1.25 cent per point if you also get the Charles Schwab Platinum card. Making the bonus worth $1250. AF is $550 but can be mitigated (or even profitable double dipping) if you have use of the perks. There is a $200 airline incidental credit (meant for fees like seat selection, baggage, change fees), but current loophole exists so you can also buy Southwest gift cards or Delta (may have to be smaller increments and only on PC). It is a loophole though, the ability to buy AA gift cards was recently closed. There are also Uber credits, Saks, TSA Precheck/Global entry credit, and airport lounge access.

I don't know if it's a good fit for you at this point. But just wanted to mention it since you may be less likely to get this offer once you get your first AmEx card.

I'll check and see if I'm targeted. Is the Charles Schwab Platinum card another personal card that I would get later? $550 is the AF for which card?

This is a good thought but keep in mind that @mamalovesdis is already at 3/24 and doesn't have a card dropping off until March 2020. With an early 2020 CP on the strategy sheet IF you get any personal card (including the AMEX Plat) you absolutely have to avoid all personal cards until you go for the CP. AND your strategy for the CP needs to be SW Biz first, then SW personal. The Plat is a good card to get, and would potentialy warrant using that slot but then it's all biz cards until 2020!

$550 would be the AF on the Plat card AND the Schwab Plat you'd get later. That could be partially offset by some credits and of course hopefully a lucrative signup bonus.

 

[LuckyMamaInDE]

Yesterday we had a balmy 75 degrees and today we are at 52 degrees so I'm freezing again.

Every time I read, I'm tempted by what I read about to open a card. I want the Amex Plat 100K offer with 5K spend, but it's just not a good idea right now as it will add to my 5/24 and hold me back from my UR plan. I can do it later once I have my other ducks in my wallet.

Anyway I'll keep reading and 'liking' when someone else gets approved, because in a bunch of months it will be me, my turn!!!!

When the 100k Amex pops up I have to physically close message and laptop and walk away for a while. It is THAT TEMPTING
to me. Like you I have UR plan I want to get that one last Chase card.

Heck after a few more target/bucketlist trips it will be back to pinching pennies for DCL lol

I'm getting itchy because we have no MSR to meet right now. But we're working on UR (with a small detour for the SW CP) to have everything in place for booking a trip to Australia in Oct/Nov. I cannot switch to MR. I must stay the course.

I haven't even gone looking for that 100k Plat offer in months.

 

[wanderlust7]

I'll check and see if I'm targeted. Is the Charles Schwab Platinum card another personal card that I would get later? $550 is the AF for which card?

Yes, the Schwab Platinum is another personal card. They both have a $550 AF. The Schwab Plat comes with similar perks as the regular (non-cobranded) Plat. You could get the Schwab before you cancel the regular Plat (to avoid the pop-up). If that fits in your 5/24 plan.

You do need a Schwab brokerage account to cash out. If you travel internationally, the Schwab checking is quite nice for ATM use overseas. No foreign transaction fees and ATM fees rebated. There's a $100 bonus on that. I got that before I ever got into churning. They do a hard pull though.

ETA: forgot to mention the Schwab Plat comes with a 60k MR bonus for $5000 spend.

 

[SouthFayetteFan]

Thank you.

I plan on closing Barclay also in June after I get that last redemption. That and Citi Discover Cap1 Amex etc just "sitting" around.
I'm the type that feels bad when i use the points and close the card so I keep it 2/3 years lol.

I really wish i would have read your advice before to someone in the older thread about opening cards for your trip needs and not just
to open/chase bonuses. Heck in 2017 I would have chased rabbits if i would have gotten some bonus carrots.

It's been a monumental shift in the game since the introduction of 5/24 and now the AMEX RAT on the loose... Back in 2015 and before, you just got every card. It didn't matter, there wasn't really a strategy. If a high bonus came out you signed up, no questions asked. I remember getting the Citi Hilton card (back before they discontinued their relationship with Hilton) and I had no USE for Hilton points. It was a high bonus though, who cares, I'll figure out how to use them! When 5/24 hit shortly thereafter I REALLY regretted getting that card. I was super lucky that 5/24 hit while I was still early in my "heavy churning" days.

Obviously now it's so much more important to have a strategy on what points you're earning, how you plan to use them, etc. Luckily we have so many smart people here that can help people strategize how to EARN best and also how to get the most value out of their points too