Today I Worked Out Our Credit Card Strategy for 2013

As 2012 draws to a close, it’s time for me to assess our credit card strategy for 2013. In 2012, we got a variety of new credit cards:

– a Chase MileagePlus Explorer card for me, for the 40,000 bonus miles AND United perks (eg. free checked bags)

– a Chase MileagePlus Explorer card for Jay, for 50,000 bonus miles (ditto the United perks)

– the Chase MileagePlus Explorer business card, for the 25,000 bonus miles (and United perks)

– the Chase INK Bold Mastercard for the 25,000 bonus points and great 5X points on Comcast, Verizon and office supply purchases

– the Chase Sapphire card, for the 40,000 bonus points

We were successful in earning all the bonus points/miles possible – 180,000 in all! That’s seven round trip tickets to Calgary, not to mention the hundreds of dollars I saved in checked bag fees.

NOW, however, I have to decide which cards to keep and which to cancel. Each card comes with an annual fee of $95 or more (waived for the first year). I don’t need more than a couple of cards and I’m not interested in paying hundreds of dollars in fees for cards I no longer need.

We are definitely going to keep one of the Explorer cards. The business card charges an additional $25 fee for Jay to have an “employee” card, while the household Explorer card doesn’t have an additional fee for him as an authorized user. Plus, I was able to get a card for our daughter to use without paying a fee. Both cards have an annual bonus of 10,000 miles for $25,000 spend, so I may as well try to make that happen by having as many of us using it, as possible. The business Explorer offers some better 2x miles options, but I’m going to stick with the household card with the lower fees.

The other card we’re keeping is the Chase INK Bold business card. It doesn’t have any annual bonuses, but it offers 5x points on our Comcast, Verizon and office supply purchases. I’ve been buying $500 Vanilla Visas at Office Depot and using them wherever I can. This really racks up the points!!

I will be canceling all the other cards before having to pay the annual fee.

And I will be on the lookout for new card offers with signup bonuses.

 

2 thoughts on “Today I Worked Out Our Credit Card Strategy for 2013

  1. Pingback: Today I Worked Out Our Credit Card Strategy For 2014 | How I Saved Money Today (and other stuff I think about)

  2. Pingback: 325,000 Miles Used in Three Weeks | How I Saved Money Today (and other stuff I think about)

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