I have been rebuilding for three years. I am still not where I want to be, but I am well on my way. Part of the journey for me is deciding what products fit your needs, spending habits and goals. Aside from the sign up bonuses–which are temporary injections of utlra benefits, I am interested in what standard portfolio I want as my “permanent” cards. For me, I value the travel rewards, the flights, the hotels, the hotel upgrades, the priority boarding, elite status with hotels. I doubt that I would qualify for elite airline status because I simply don’t travel with the level of fequency. When I do travel, I want it to be as painless as possible and actually enjoyable.
My Ideal Collection:
HAVE NOW AND KEEP
HAVE NOW AND WILL SOCK DRAW, CANCEL, DOWNGRADE, OR MOVE CREDIT LINES
US Bank Cash+
AMEX EveryDay Preferred
Chase Freedom Unlimited
AMEX Hilton Reserve
Barclays AA Aviator or Citi AA
Delta AMEX Gold
In this mix I have a good mix for the Membership Rewards, Ultimate Rewards, hotel branded and airlines. For me it’s not about having huge credit lines, it’s about the benefits the cards offer. Also, cash back options are covered with the Chase and Discover.
Is this overkill or what are duplicates? What is missing? Which ones would you add or delete? I considered the Citi Thank You Rewards options, but their transfer partners are very useful. With each one of these I can articulate exactly what about the card I find attractive.
I look forward to seeing your lists and comments!