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Home > Catching Up: Credit Card Shuffle

Catching Up: Credit Card Shuffle

January 2nd, 2013 at 09:47 am

I am loyal to the people (and animals) in my life.
I have zero loyalty to cc companies. Smile

I'm not as good at it as some of you (like MonkeyMama), but I do like to milk the cc rewards.

In 2012 I opened a *Marriott cc so that I could stay for free when I attended my HS reunion. I closed it today b/c my 1 year anniversary is coming up and I would have incurred a $85 annual fee that I was not willing to pay. I know that this was a "one time deal" and that *Marriott won't be offering any special promos like that to me again. That's OK with me. I don't travel that much that involves staying in hotels.

I also opened an American Express Blue Cash Preferred card for a $150 bonus and 6% cash back on groceries. I like that I can call in and have my rewards credited to my account, in $25 increments. There is a $75 annual fee but with the 6% cash back on groceries I will probably opt to keep it. (Towards the end of the year, our favorite grocery store HEB offered 12-cents off on gas if you used one of their prepaid grocery cards, so we were able to double up the 6% cash back and 12-cents discount. HEB's gas is competitive even without the discount. This promo, which HEB runs periodically, is always popular. On Dec 31, the last day of the deal, there was a line at the gas stands!)

Opened an Amazon cc in exchange for a $50 Amazon gift card. Used it to order a b-day gift for my brother, with some leftover for a future purchase. DH will also get an Amazon cc. He likes to buy some of his "ethnic" groceries from Amazon.

IMPORTANT NOTE: Opening & closing cc accounts isn't a good strategy if trying to build up your credit score. My credit score is decent, and I don't anticipate ever having to take out any loans, so I don't have to worry about qualifying or paying a higher interest rate.

P.S. - I had to edit my entry to refer to the hotel chain as *Marriott, otherwise a hyperlink to that particular hotel chain automatically appeared. That is something new in the SA blogs, isn't it?

5 Responses to “Catching Up: Credit Card Shuffle”

  1. MonkeyMama Says:

    I read something recently that said that a majority of people will be loyal to their first credit card issuer. For life. Just something along those lines. Heck if I even remember who my first credit card issuer was. I personally don't *get* it.

    You and I will obviously put much more weight on fees and terms and rewards. We are weird. Big Grin

  2. FrugalTexan75 Says:

    I don't recall my first credit card either...

    Good work on the rewards!

  3. Jenn Says:

    Well I remember my first credit card - Capital One. They enticed me to take on debt while I was still a college student. It took me years after graduation to pay it off. Lesson learned. And the loyalty back-fired: since then I have NEVER wanted any account of theirs, no matter what rewards might be available.

  4. Amber Says:

    Wow you just reminded me, I have a BoA card that earns rewards (cash) I'll start back using it to get the cash.

  5. scfr Says:

    Monkey Mama - Cheers to us and all the other PF weirdos out there! Smile
    Good plan, Amber! I think the cc companies count on people not cashing in their rewards. They don't do us any good sitting there as a figure on our statement. Best to use them up as fast as we can!

    Funny - I actually DO remember my first credit card, Dayton's department store. Got it right after I graduated from HS. Moved to an area where they didn't have Dayton's after a year so that card didn't last long.

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