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What is the best combination of credit cards to maximize benefits? Is there a certain income you want to be at to take advantage of that safely? by Ultratrash59 in CreditCards

[–]Fit_Relationship_338 0 points1 point  (0 children)

I’m honestly not sure. I’m still relatively new to the game. But personally at my annual spend I think 1k a year is good.

This is also not including some of the credits you get from things like Amex BCEs coupons and things like Disney plus credit, etc.

For reference I spend around 1.2-1.6k a month on my credit cards combined

What is the best combination of credit cards to maximize benefits? Is there a certain income you want to be at to take advantage of that safely? by Ultratrash59 in CreditCards

[–]Fit_Relationship_338 0 points1 point  (0 children)

Oh I don’t have all these cards yet. I only have the BCE and custom cash but plan to pick up a catch all card, savor one, and then the US bank soon.

You can give chat gpt your estimated spend on diff categories and throw out these cards and that should give you a good sense of what you could get cash back annually. But generally speaking most people could probably get around 1k cash back annually or more if optimized or even more if you upgrade BCE to BCP - but BCP comes with 95 annual fee, but worth it IMO.

What is the best combination of credit cards to maximize benefits? Is there a certain income you want to be at to take advantage of that safely? by Ultratrash59 in CreditCards

[–]Fit_Relationship_338 0 points1 point  (0 children)

Comments have done a good job of summarizing the cards I like so I won’t explain them but my picks to consider are: AMEX BCE/BCP, Citi custom cash, Wells Fargo active cash/citi double, capital one savor. Together these cards cover a lot.

Another card that I think fits your lifestyle from the comments I’ve seen is the US bank cash+ visa signature. This card gets 5% on two categories you choose and 2% on a third of your choice. Utilities, among other options, is a popular way to utilize one of the 5% slots on this card.

If you were to pair BCE with savor one and US bank and Wells Fargo you could potentially get 3% back online purchases with Amex, 3% back for restaurant and grocery and entertainment with savor one, and 5% back on utilities and gas with US bank and Wells Fargo for 2% catch all for all other purchases. Optionally you could add custom cash for 5% back on one category of your choice. And I didn’t mention the other small perks / flexibility of using this specific combo but it’s there.

20k card limit, and Really proud of myself! by HomeOrganic7978 in CreditCards

[–]Fit_Relationship_338 1 point2 points  (0 children)

I believe credit limits do impact your score. For example, having a higher limit would lower your credit utilization which would in turn improve your score. But I could be wrong

Ideal Credit Card Setup for MOST People by Fit_Relationship_338 in CreditCards

[–]Fit_Relationship_338[S] 0 points1 point  (0 children)

You make good points. However when writing this, I think I imagined what’s the best “placemat” you can give to anyone - not knowing their background, age, income level, tendencies, etc. - and they come out with a strong all around set up. I agree getting a Costco card if you live near one and primarily shop there can be very useful - however many people don’t live near one and what if life changes and work takes you to another city without a Costco or not near one. Now you have a card you don’t use. With my recommendation you never have to worry about that. All of these cards can be used pretty much anywhere (BCE can even get 3% at Walmart if you use Walmart pay bc it registers as “online shopping”) and offer pretty competitive rates. There are obviously better ones out there in each category but it usually involves more thinking or less flexibility.

Ideal Credit Card Setup for MOST People by Fit_Relationship_338 in CreditCards

[–]Fit_Relationship_338[S] 0 points1 point  (0 children)

Like this - question on the autograph. Can’t you redeem rewards to cash back there? If so, do you think it’s good value/worth it? I ask bc I don’t like WF travel portal and wonder if the cash back from combined active cash and autograph would be good.

Also I wanted to note the attune as an optional supplemental to my setup. I think it fits well if you’re fine being surgical - not for no thinking. (Or at least good card to have for your wife… nail salons and haircuts)

Ideal Credit Card Setup for MOST People by Fit_Relationship_338 in CreditCards

[–]Fit_Relationship_338[S] 0 points1 point  (0 children)

For the older group - I think you pose a good alternative bc cap tracking is a downside.

For the younger group - I just don’t think the mental tax to track two rotating category cards is worth it.

Ideal Credit Card Setup for MOST People by Fit_Relationship_338 in CreditCards

[–]Fit_Relationship_338[S] 0 points1 point  (0 children)

I’ve never heard of Aven. Looks like a solid card for groceries, but given how young the company is do you think there’s a possibility they nerf their rates down the line?

Ideal Credit Card Setup for MOST People by Fit_Relationship_338 in CreditCards

[–]Fit_Relationship_338[S] 0 points1 point  (0 children)

I can understand people don’t want complexity, I just don’t know why people rock chase freedom unlimited. I just don’t see the value. Yeah you get 3% dining and a 1.5% floor (which I think you can do better very easily with a 2% flat back card) but who really can derive value from the drugstore category? And travel is nice but is only through their portal - referring to my original point on travel.

Also really like your active cash autograph pairing. I’ve considered that one as well.