different cards let you request either statement credit or direct deposit of accumulated rewards

many of mine are automated for recurring payments (utilities/gym/Paypal) and I mainly just designate a card for grocery or restaurants or other, and can net average close to 4% back across all purchases

I just do credit statements for now. The Points Guy analysis shows that is generally the best ROI for my card.

My biggest haul was 2019 when I elected for straight cash back. $7K. That was a nice little surprise.

Everything without a fee. Wife and I went to Hawaii in February entirely on points for our 10 year anniversary, and it was glorious.

ea1060 said:

---

htxag09 said:

---

Tangent but lounges have to have become the biggest crock of **** in all of travel and credit cards. My wife was in Las Vegas last week and sent this picture of the line to get into the Amex lounge. Yes, that many people are waiting to get into an exclusive, private, and "free" lounge vs just paying for a drink at a bar

---

100% agree. The biggest reason I keep the AMEX platinum is access to lounges. But the last two times I tried to get into the IAH centurion lounge, it was full and they wouldn't let us in. So frustrating.

A few weeks ago I had an international flight at IAH. I tried the centurion lounge and it was full. Then tried the KLM lounge and they wouldn't let AMEX Priority pass members in. So went to Air France lounge, which is the crappiest lounge out of all 3, and they finally let me in. This exact scenario has happened twice in a row for me.

Might be time to cancel the AMEX with their increased annual fee.

---

Figured I'd bump this. We were going to downgrade AMEX cards because of the increased fee. I just did the online chat with a rep and asked if I had any retention offers, they went through the hoops of well if you do this and this it's paid for. I replied yeah, but we only do that because of the benefit, if it weren't free we'd cancel (for example Walmart+). They offered 55,000 points if I keep my platinum card (also have to spend like $4k in 3 months). Figured that was worth pushing off the downgrade another year.

my offer was kind of the flip of that.

they "let" me use points at 1,000:1 (instead of whatever typical crap exchange they have) to keep the card another year.

I was already past the renewal data and they were threatening to clawback the 40-50K they offered last time I tried to cancel (since it was less than 12 months since the bonus).

I feel trapped in this stupid card but at least I get decent value on the benefits. one day I hope to be allowed to quit.

Haha!

Yeah, the terms the rep sent me said if I canceled or downgraded the card within 12 months they could take the points back. Good news is my renewal is in mid February, so I feel like I could still downgrade in late January, be outside the 12 months but not renewed for the following year yet. Unless I'm missing something?

Edit: may have been missing something…. Is it 12 months after getting the bonus? So if I get the actual bonus in April I have to wait until April 2024?

yeah, I think it's after getting the bonus, but you should get it as soon as you meet the spend

Terms said 6-8 weeks. Could kind of see them waiting that long just so I can't downgrade next year. May just downgrade now and pass on the 55k points….

they always post as soon as I hit the spend, so fingers crossed for you.

htxag09 said:

---

ea1060 said:

---

htxag09 said:

---

Tangent but lounges have to have become the biggest crock of **** in all of travel and credit cards. My wife was in Las Vegas last week and sent this picture of the line to get into the Amex lounge. Yes, that many people are waiting to get into an exclusive, private, and "free" lounge vs just paying for a drink at a bar

---

100% agree. The biggest reason I keep the AMEX platinum is access to lounges. But the last two times I tried to get into the IAH centurion lounge, it was full and they wouldn't let us in. So frustrating.

A few weeks ago I had an international flight at IAH. I tried the centurion lounge and it was full. Then tried the KLM lounge and they wouldn't let AMEX Priority pass members in. So went to Air France lounge, which is the crappiest lounge out of all 3, and they finally let me in. This exact scenario has happened twice in a row for me.

Might be time to cancel the AMEX with their increased annual fee.

---

Figured I'd bump this. We were going to downgrade AMEX cards because of the increased fee. I just did the online chat with a rep and asked if I had any retention offers, they went through the hoops of well if you do this and this it's paid for. I replied yeah, but we only do that because of the benefit, if it weren't free we'd cancel (for example Walmart+). They offered 55,000 points if I keep my platinum card (also have to spend like $4k in 3 months). Figured that was worth pushing off the downgrade another year.

---

This is pretty much the only reason why I keep my AMEX Platinum, I call every year and threaten to cancel membership unless they have a retention offer lol. Last year they gave me a $550 credit to stay, the year before 25k miles. I hear lately they are offering more miles like in your case, so I will be calling them very soon

I use amzn prime card everything. +$780 to my checking acct for 2022 via Prime card rewards

I attempted the play the churn game a few years ago and f that noise. As mentioned previously, ain't nobody got time for that!

Down to 3 now. Amazon for online, Marriott for travel, and Apple to capture everything else. Though my travel has lessened to almost nonexistent last year or so may give up that card in the future. It's a simple setup and actually have it all tied to my apple wallet now so convenience is top notch. It's actually why I decided to try the Apple Card and honestly, I like it. I can get nearly all my gas and food at 2% which is fine for me and their app is amazing.

It works for me.

Brian Earl Spilner said:

---

As a rule I never use my debit card whatsoever, outside of the ATM when I need cash for some reason. Which is usually like twice a year at most.

For gas, I use my gas card which is tied directly to my bank. Outside of that, everything goes on my WF Active Cash Card.

Debit cards are the devil. Never use one if you can help it. If your card info is ever stolen/cloned and fraudulent charges made, good luck ever seeing that money back, much less in timely fashion.

Never mind the fact that you're leaving free money on the table. The trick is to not treat credit cards like credit. Tie everything to Mint, track your assets/debts together, and never spend what you don't have.

---

Dave Ramsey just had an aneurysm.

But I do pretty much exactly what you do.

MyNameIsJeff said:

---

Dave Ramsey just had an aneurysm.

But I do pretty much exactly what you do.

---

Lol I follow Graham Stephen, who in some ways is Dave Ramsey's millennial arch nemesis: someone who is extremely frugal in their quest for financial independence, BUT uses debt strategically (real estate, CC, etc.) to help reach his goals.

Last year, they both went on each others online shows/podcasts, and it was cool to see the exchange and respect between two financial pundits who have found success with almost polar opposite core philosophies.

Where I really like Graham's philosophy over Dave's is, while Dave has the hard zero debt philosophy, Graham encourages it, BUT only if whatever you have financed can/will appreciate in value over time. Dave's philosophy definitely works for a certain demographic of people (those struggling with managing debt/finances).. but really throttles your ability to generate wealth if you are responsible.

And before you check him out on Youtube.. yes.. his video headers are extreme clickbait.. but the content is generally solid and insightful outside the doomsday header he uses to lure in the uninitiated into his content.

Also, The Money Guy Show is another channel I like to listen to.

Everyone's got the usual answers here. For the slightly unconventional, I usually pay for home contractors on credit cards and eat the extra fee as an insurance. 2% goes back as points anyway, so its really just a 1% fee for someone to be able to charge back in case of egregious issues.

I know too many people who have gotten robbed blind by contractors not finishing their work or just taking the first tranche of money and running.

Granted, I've never done anything so big that a credit card would be a killer to the whole deal (like 50k+). But at that rate I would seriously consider a third party escrow account. Had a family member put a 40k down payment on a barn build. The contractor immediately declared bankruptcy and skipped town.

I'd like to think a credit card or escrow would have prevented that situation from happening.

MyNameIsJeff said:

---

Brian Earl Spilner said:

---

As a rule I never use my debit card whatsoever, outside of the ATM when I need cash for some reason. Which is usually like twice a year at most.

For gas, I use my gas card which is tied directly to my bank. Outside of that, everything goes on my WF Active Cash Card.

Debit cards are the devil. Never use one if you can help it. If your card info is ever stolen/cloned and fraudulent charges made, good luck ever seeing that money back, much less in timely fashion.

Never mind the fact that you're leaving free money on the table. The trick is to not treat credit cards like credit. Tie everything to Mint, track your assets/debts together, and never spend what you don't have.

---

Dave Ramsey just had an aneurysm.

But I do pretty much exactly what you do.

---

Dave Ramsey is for people who can't help themselves and it works for them. They can't have credit cards in the house or it goes straight to amazon and then a debt spiral.

I laugh/cry that those people just can't contain themselves but then immediately declare to my family that we can't keep sweets in my house or I'll devour them and then yell at the scale.

one MEEN Ag said:

---

Everyone's got the usual answers here. For the slightly unconventional, I usually pay for home contractors on credit cards and eat the extra fee as an insurance. 2% goes back as points anyway, so its really just a 1% fee for someone to be able to charge back in case of egregious issues.

I know too many people who have gotten robbed blind by contractors not finishing their work or just taking the first tranche of money and running.

Granted, I've never done anything so big that a credit card would be a killer to the whole deal (like 50k+). But at that rate I would seriously consider a third party escrow account. Had a family member put a 40k down payment on a barn build. The contractor immediately declared bankruptcy and skipped town.

I'd like to think a credit card or escrow would have prevented that situation from happening.

---

just my viewpoint, but if you're worried about the contractor, then order the materials yourself and pay the trades (in cash) by the day. Everyone wins.

Diggity said:

---

one MEEN Ag said:

---

Everyone's got the usual answers here. For the slightly unconventional, I usually pay for home contractors on credit cards and eat the extra fee as an insurance. 2% goes back as points anyway, so its really just a 1% fee for someone to be able to charge back in case of egregious issues.

I know too many people who have gotten robbed blind by contractors not finishing their work or just taking the first tranche of money and running.

Granted, I've never done anything so big that a credit card would be a killer to the whole deal (like 50k+). But at that rate I would seriously consider a third party escrow account. Had a family member put a 40k down payment on a barn build. The contractor immediately declared bankruptcy and skipped town.

I'd like to think a credit card or escrow would have prevented that situation from happening.

---

just my viewpoint, but if you're worried about the contractor, then order the materials yourself and pay the trades (in cash) by the day. Everyone wins.

---

This is true. But every time I've compared prices contractors for piddly stuff they use their buy house for they have about 10-15% price advantage over me running to Home Depot.

I guess it depends on the trade too. If it was a home addition, yeah I'm going to place that order with BFS for dimensional lumber myself. Same with paint. Too many painters will cheap out on the paint. So yeah that order is going from me straight to benjamin moore.

But for example, we had electrical work done recently. The contractor's rate on the panel was like 20% cheaper than me buying retail. And he didn't ask for any payment until the end anyway.

Sidenote, everyone should be signing up for home depot as a pro. They don't ask for any documentation about a business. Just tell em a business name and start getting rewards. Just make up a name. Ben Dover Residential Contracting. I recently rented a $200 ditch witch for free after accumulating enough points.

You're right.

The last job I did, the things I could order online for better prices, I would (like fixtures).

Paint and crap like that, I either used my buddies Pro # or had the contractor purchase himself and reimbursed him based on receipts.

It's a bit of extra work but I've found trades to be much less motivated right after you give them a big chunk of money.

I tried to be flexible in any case. When the main guy needed a bit of extra cash up front for a trip he was taking, I gave it to him, but he had proven to be reliable at that point.

Anyone got any new cards ideas? I just redeemed and am annoyed Chase Sapphire reduced the pay yourself back feature. 1 pt was worth $1.50 when redeemed and they just reduced it to $1.25. Not terrible, but I'm slightly annoyed.

https://thriftytraveler.com/news/credit-card/chase-pay-yourself-back-devaluation/

damn...I hadn't heard that. what a pisser

Wells Fargo Active Cash for a flat 2% back on all purchases. And a $200 intro bonus.

Beats having to keep track of different cards for different months. Just put everything on that and never think twice about it.

yeah, it's a bit of a pain to juggle several cards but I just looked at my cash rewards last year and my payback was just under 4% so it's worth the extra hassle to me. It was depressing to see just how much I put on those cards though.

The "pay yourself back" program with Chase was a breeze to use when they added restaurants. I'm sure I'll still be able to get full value for those points, but I'll have to be more intentional about it.

I feel like the credit card rewards game is the modern version of coupons from 20 years ago. Remember all those stories about moms spending their days clipping coupons and going to Kroger for 2x or 3x value then bragging that they bought their groceries for free? This feels like the same thing and like several here I just don't have time for it.

We use the Citi Double Cash for everything personal and a Chase Preferred 1.5% cash card for everything business. Between the two we probably realize $2k/year in cash and that seems adequate. I'm sure if we dedicated more time to it we could do better but it feels like a lot of work for marginally better results. Maybe that's wrong.

Honestly, it's nothing like that.

It's about carrying 2 or 3 cards and knowing which one to use. Not rocket science.

Some of the churners definitely take it to the next level but I don't pretend to be rich enough to pass up a couple extra grand a year in rewards.

Diggity said:

---

Honestly, it's nothing like that.

It's about carrying 2 or 3 cards and knowing which one to use. Not rocket science.

Some of the churners definitely take it to the next level but I don't pretend to be rich enough to pass up a couple extra grand a year in rewards.

---

Ok that makes a bit more sense.

Amazon credit card for Amazon things

Amex BC preferred for groceries, gas, and streaming

Chase Freedom 5% categories when possible

Then I usually just put everything else on the Amex BC preferred because it's easy to not have to remember another one

Check out my comment right above this one.

Doesn't have to be super complicated.

Even just adding the Amex Blue cash preferred for gas and groceries can help a ton these days

Quote:

---

6% back at U.S. supermarkets on up to $6,000 a year in spending, plus 6% back on select U.S. streaming services and 3% back at U.S. gas stations

---

https://www.nerdwallet.com/reviews/credit-cards/american-express-blue-cash-preferred



Here's a referral link you need one. gets you $250 in credits after spending $3K


http://email.americanexpress.com/a/hBj2fHQAQB6FsB95cJTNuY70Y.AQB6FsRZ/amex1?SHORT_URL=americanexpress.com/en-us/referral/STEVEHudYx?XL=MNDEM&CMPGN_VER_CELL_ID=&ECP_CELL_ID=

I just use the Citi double cash for everything that's run rate. Amex platinum for travel and anything they give a rebate on like streaming services or Uber.

I'm sure there are better cards out there, I just haven't bothered to shift.

Worth mentioning the $95 annual fee. Eats into those rewards significantly.