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Great video Spencer! I think that going the Hyatt route is probably better than going the Southwest route unless you plan on taking lots of flight with a P2 over the next 2 years. The biggest draw for the Southwest personal/business combo is that companion pass so if that’s not high on the list, better to pound expenses onto a Hyatt card!
This is great advice! My husband and I are parents of 3 littles, so jetting off for several weekend getaways a year won't make sense. We can't make use of that companion pass anytime soon. But we DO travel as a family 1 or 2 times a year, and transferable currencies are super helpful to us.
Thank you Stan! And that’s a great point. Part of me thought just adding the business card right now would be smart so I could lock in a lot of SW points without adding to my 5/24 count, but the companion pass isn’t super high on my priority list right now. I hope by the end of the year they give the Hyatt cards a new bonus or something now that MGM isn’t partnered with them anymore, but I’m not holding my breath. But putting a lot of spend into the Hyatt card for a while is definitely not a bad idea. Good suggestions Stan, I appreciate you!!
Love that you were able to still find creative ways to accumulate MR Points while gardening (Retention Offer & Checking Account!) Like you, I've been seeing more and more value in Hotel & Airline Cards, and that is a huge reason why I've continued to add Hilton Cards & hope to add the Chase WoH sometime soon as well. Great video Spencer!
You know me.. I’m gonna find a way to get more Amex points if I can help it lol. Airline and hotel cards are definitely on my list soon enough! Thank you for watching Matt!!
I loved this video Spencer. Hearing your thought process about where you have been at the past few months up to now and what your credit card roadmap looks like now and being thoughful about what you want to add next was thought provoking for me. Some things to think about now. Thank you man!!
I’m really happy to hear that!! This was honestly a really fun one to make. I feel like everyone should sit down and make a video like this, even if they don’t record it or speak it out loud. It was super helpful in giving me better direction for myself going forward. Thank you for being here man!
ah nice! I do remember u trying to apply for the amex plat. I got the BILT card for basically the same reason as u mentioned. It's good to have and it will only keep improving.
Another person out of ATX here who primarily flies SW! A Chase predominant setup is really good in this area with the Sapphire Terrace and ATX being big SW hub. I’ve forsure seen high upside with the SW companion pass and Sapphire lounge when traveling 🤘🏽
This was an awesome video, and really grateful I found your channel! I got the 150k bonus with the Platinum 2 months ago, but feel as though it is a big reach to justify that annual fee for me personally after having the card thus far. Currently I have the, CFU, zero annual fee Savor, and delta platinum. Thinking of simplifying and going with the chase trifecta or the Cap one duo as it seems you’ve gotten a lot of value from your venture x. I’d love a video of you showing Chase Trifecta vs Cap One duo in the future! Thanks for all you do Spencer!
Another great video as always Spence! Finally completed my Chase Trifecta by getting approved for the Chase Freedom Flex last week! So happy I dont have to worry about no 5/24 rule. I was also contemplating on the southwest card, cant go wrong with 2 free checked bags lol.
Great points Spence! Im gardening as well, until dec/jan. I will also eventually add a hotel card to the collection at some point. If the Gold is too much for you, have you thought about adding the Savor 1 to pair with your Venture X?
Generally believe that building credit is important, credit cards are a means to do that, owning property, having equity in your home, having substantial savings and investments are significantly more important than earning points on credit for travel. Travel does not pay dividends.
Lol it doesn’t have to. Travel pays you experiences, experiences that you’ll remember for the rest of your life as time goes by, which will never come back unlike money
@@Human_Organic I am 44 and memory dividends are a thing. You do need to save and invest but as well optimize in everything that you do. Joy brought by experiential memories especially with loved ones definitely pays dividends in a much larger way then money.
Another great video. Since I just picked up the VX I think I may garden for six months until I can grab the Savor One for the grocery category. I think my 5X groceries on the CFF ends in November. I guess I'm slowing down because there isn't really a card that excites me right now. Maybe if the Strata comes along...
I just changed my credit card setup and I think I’m really hype about it. Had the chase freedom flex, unlimited, and preferred; and was looking to move into a citi/chase hybrid setup. But instead I opted to get the Chase ink cash, and most recently and my new driver, the altitude reserve. I don’t fly a ton so the 4 priority passes are perfect; it has an effective annual fee of 75, and I use it for gas and grocery (when the flex isn’t in those categories) for effectively 4.5x on all digital wallet purchases. Next card is gonna be the cash plus from US Bank for bills; and I think I’m pretty set. A cash back / points system feels the best right now with the current economy imo
So I’m brand new to the credit card game and I just applied for my first real credit card (American Express gold) my credit score is 720 at the moment. I want to eventually have the chase trio and the Bilt for my rent. What timeframe should I be looking to acquire all of these and how long should I wait between applying for credit cards. I’ve been doing a lot of research but I am still new to the game. Any advise is appreciated!!!
Another great video! Have you put some thought into the C1 Savor One card since it has no annual fee and 3x on dinning/grocery stores as well as other decent categories such as entertainment and steaming services as a replacement for the Amex Gold Card? Even the Savor Card with a 95$ annual fee has 4x on dinning (3x) grocery stores which is as good or better than the Gold Card. Both have a small SUB and are good feeder cards if you do not want to use the cash back method and just convert to miles for the Venture X. Keep up the informal style of videos!!
Thank you so much Steve!! I have definitely considered the Savor One. From a point earning perspective, it's one if not the best no annual fee credit card in my opinion. However, once I move again in the next few months, the Gold card will regain it's value again. I just don't have much opportunity to use the credits right now which is an argument for a card like the Savor One instead of the Gold card... that could be my setup one day, but with how much higher I value my Amex points right now, I'm gonna ride with the Gold a while longer thanks to that retention offer.
Great video Spencer! I got an Amex Platinum in 2021 with a bonus and then I downgraded to the Gold. Now I have an upgrade offer to the Platinum again for 25000 MR bonus. Would I still get it since I got a bonus initially? Or are upgrade offers different?
So what about putting your rent on the card or account from Yotta bank? With them you have a chance to get your rent for free and general purchases can also be paid by them. I know everyone on RUclips is suggesting the BILT card if you pay for rent, however I would rather have less apps and different types of points to keep track of but maybe thats just me.
Excellent content Spencer!!! The WOH is also a card I have in mind to get down the road. After that I’m planning to set my feet with team cash back, planning to shift directions towards US Bank credit cards
Right there in rethinking my credit strategy too. The difference for me is that I just will never buy a first class flight. Not that I won't travel but I'm fine sitting in economy plus reading and sleeping for 8-12 hours. I don't need tons of points as I wont be redeeming them in great 2/3 cent per point redemptions. So I'm switching to cashback and just investing any cashback. To me I'd rather have all those credit card fees and luxury travel trips invested so I can afford more cheap(er) trips.
Where would you anticipate getting value from the Amex Green if you were to downgrade the Gold? I'd assume you have Clear and Global Entry well covered several times over by other cards at this point...? Or is it just that matter of a pure lower AF without closing?
I love these kinds of videos because I always like to hear other strategies. Im constantly thinking about moving to team cash back. I have a good set up to start it and I'm curious how much money that would put in my pocket. I also think Team cash Back might be more efficient for Domestic Economy, less often travelers.
I’m glad you liked it Luke! I completely feel where you’re coming from. I’m constantly debating adding more cashback related cards (that double as domestic travel cards in a sense), especially if they compliment my current cards well too.
@@SpencerJohnsonOfficial I keep running systems in my head that have no fees and much less thought. Maybe when my boy is busier and we can’t travel as often
That’s exactly what I assume will happen one day for myself. I’ll probably go pretty hard with the travel cards until my family will get less value from it and switch to a more simple setup. Who really knows though haha. Maybe I’ll switch up sooner, idk!
Right now I’m aggressively gardening for when I get hopefully approved for the venture X later down the road like we have talked about. My last approval and application for a card was the citi custom cash back on 2/11/23. What’s great now is that you can check if your pre approved for the VX via the pre approval process. They said I need to decrease the number of recent hard pulls for their algorithm which is fine to keep waiting. The other one is number of accounts which might be their version of 5/24. Right now I’m 7/24 but I’ll be 5/24 in April of 2024.
Yeah man, I’m super excited for you to finally get to pick up the VX. Their inquiry and new account sensitivity is definitely annoying, but you’ve been working at it for quite a while so I’m looking forward to you finally getting to add it to your setup.
@@SpencerJohnsonOfficial yeah man same. I don’t think I’ll be approved this year which is fine. But I’m paying down my credit card debt (which is like $4k so it’s not to bad) before I would even think of applying. Because my rule is to have a super low reported utilization before applying for a credit card.
Might I suggest a different route? After your ink unlimited in September, get the ink cash later in the year. Then refer your girlfriend to both of these cards. No annual fee's and you will end up with 400kish chase points. You will also be way under 5/24 by the time you finish. I am working on my 4th ink bonus of the year.
Been super interested in getting the Hyatt card . I have the chase trifecta as well as my AMEX gold . I’ve stayed at two of their properties this year and plan on another at the end of the year . It seems to make sense but I fear as if it’ll take away from the versatility my chase trifecta has . Only reason why I keep the sapphire open is because of Hyatt being a transfer partner . That welcome bonus isn’t all that great either honestly :/ but it could be worse !
If you fly SW a lot. Then you should definitely get the CP. And you don’t even have to add to your 5/24 status. Instead of one personal and one biz SW card you can just get 2 SW biz cards. Obviously apply in November or December then make sure you don’t hit the spend until the start of the year. I’ve seen so many people post that they got the sub too early and ruined their chance at CP.
Quick question. I applied for a chase card, but I ended up with 2 hard inquiries for that single card because I accidentally inputted the wrong information when registering for the card. So I had to reapply. Will that first inquire count towards 5/24 rule if I where to apply again for another one of there cards? Or would it be overseen since its 2 inquires for the same card?
Glad to hear your thoughts on Team Travel vs Team Cash Back. Sure its nice to have friendly digs at each other. But looking down on one vs the other is uncalled for. We are ALL on the same team. Team Credit Cards. Just like there is Team Gold vs Team Rose Gold 😂
Here's my setup: U.S. Bank Cash+ for 5% back on utilities and internet. Citi Custom Cash for 5% back on groceries. U.S. Bank Altitude Go for 4% back on restaurants. Chase Freedom for 3% back on drugstores. Wells Fargo Autograph for 3% on gas. Paypal credit card for 2% general use. All zero annual fee.
For the Hyatt card, does the free room have to be for a one night stay? Or can you use one free night in a four day stay then pay for the remaining nights and not have to switch rooms at the hotel? Sorry a bit confusing of a question
Good question! To my understanding, you can use a free night no matter how you book the trip (cash or points). So it just covers one of the nights of your stay but you don't have to switch rooms.
I really feel you on the annual fee cards. I love the Amex gold multipliers, but I wouldn't make use of the credits. I might use $20-30/year, and yeah sure I could use Uber more and eat out more, but like you said, that's not really a credit since it's money I wouldn't be spending otherwise. I have the SavorOne instead, and looking at my spending habits, I wouldn't spend enough to make up for the annual fee.
I’m glad you resonated with that! Once you aren’t able to get value from the credits anymore, the Gold card really loses its appeal. The Savor One is a much better option for a lot of folks.
11:17 hotel cards are great! I like knowing that every year i have 1 free night credit, that I will 100% use / even without having the card, I will have still paid for it. So in my head I justify it.
I have been gardening for over a year now. I will be going after the Wyndham business and ink cards by October. I’ll be 3/24 in November and hopefully the holiday’s bring some big SUBS.
Ed! Thanks for joining the membership man! Sorry it took me till now to get to your comment but I'm excited to see yours every time you leave one now. It sounds like we have a pretty similar trajectory right now though! I drop to 4/24 in September and am probably gonna add an Ink card right away. Then I'll be gardening till early next year where I'll drop even lower. But if a really good SUB comes out on a card I've been wanting, I'll probably pick that up at the end of the year too.
Great thinking. I’m not on airline cards yet. But yeah; I try to avoid AFs I can’t easily justify (notices my $550 card looking at me with worry). I have a sneaking suspicion that the WoH cards might finally see some changes in light of the MGM/Marriott moves. I also see those cards undergoing a LOT of changes (some I’m worried about down the line). Great stuff as always.
Thanks Matt! Airline and hotel cards are definitely intriguing me lately. The SW business card really doesn’t look too shabby and may be one I consider adding later this year.. we’ll see! I’d love to see some positive WOH changes soon. If it happened by the end of the year then it would be hard for me to not pick it up. Thanks for being here as always!!
I snapped up the Hilton Honors right before the end of the promotion (couldn’t use anyone’s referrals annoyingly) so I’m happy about that FNC and building hotel diversity. WoH has this weird $350 statement credit on a booking signup with only 5000 points via dummy bookings; not what I’m looking for, but intriguing instant value. I can only hope that the Marriott/Chase relationship survives the start of the Marriott/MGM deal.
Hotel + Airline CCs are definitely worth it if you can get value from the perks offered (FNC, checked bags, companion cert, etc). AF CCs are the same if the math works out. If not - downgrade/cancel and move on. Thanks for the info + video.
I might be misunderstanding, but what is the exact reason for staying under 5/24 if you already have the Chase trifecta? Is it just in case Chase releases another CC that you'd want to apply for?
The 5/24 rule extends to Chase’s co-branded cards as well with partners like World of Hyatt, Southwest, United, IHG, Marriott (for now), British Airways (etc), and AirCanada’s Aeroplan card. If you want any of those, you’ll need to be under 5/24, same with their associated Business cards.
I honestly couldn’t have said it better than what Matt did here. There are so many other Chase cards I could still pick up that it’s nice to be under 5/24 if at all possible.
Technically yes you’d be denied, but some people are able to get lucky and get around it. The majority of people need to be under 5/24 to get approved for any of Chase’s cards unless you have a mailer with an invitation code on it.
What are your thoughts on the fidelity rewards credit card which gives back 2% cash back which can be used to invest in the fidelity brokerage account?
I actually talked about that card in my catch-all credit card video a while back! I think it's a solid cash back credit card, but if you want to travel a bunch, it doesn't help you a ton there.
@@SpencerJohnsonOfficial thank you and yes I was considering getting it in early 2024 as my catch all card as I am currently using the freedom unlimited as my catch all because of travel points.
Haha I guess you could!! It'd be a bad redemption rate I imagine, but if you don't want to transfer them out to travel partners then I can see why you'd go that route!@@EfLuis
The good category 4s cost at least $200 and when you consider the price of booking during a peak time, they can reach a lot higher than that. Obviously those numbers weren’t exact, but hopefully you still get the point.
The "team" mentality in this community is off-putting... If you really wanna label it that way, we're all on Team Rewards vs Team Banks... And when you frame it that way, Team Rewards ALWAYS wins!
That's fair! Of course, we're all on team rewards at the end of the day, but there's still a pretty big distinction between people who go for travel specific rewards and those who go for cashback rewards. In the end, I think a lot of folks mix and match cashback and travel cards so we're all a bit of a hybrid.
@@SpencerJohnsonOfficial i agree with your hybrid comment... i guess that's why the "team" lingo is weird to me, maybe because i don't feel i fall into either team haha
That's completely fair man! I think you have a similar strategy to most people at the end of the day. I'll actually talk more about that in next my video next Wednesday!@@bennnnnnnnnnnnnnnnnn
@@SpencerJohnsonOfficial sweet, I'll be sure to watch! Recently spent a week with my wife and 3 kids at a Vacasa near Gatlinburg, TN.. inspired by Frequent Miler... Citi TYP to Wyndham points, 15k Wyndham points per night (1 bedroom cabin).. this was my first time ever using Vacasa and also first time transferring cc points to a partner... Happy with the outcome!
I would reconsider him being your favorite commenter. I have noticed some strange and disturbing patterns in how he comments. He only seems to leave his comments on white male credit card channels like Adam, Mark, Ben, and Spencer's. When I asked why he doesn't comment on Ask Sebby, John Liang, or Brain Jung's CC videos he couldn't give me a good answer. He then went on to claim he was "African-American". If he is black, why doesn't he support RJ Financial, John Cannon, JP Knowledge or your channel with his engagement? This guy is very suspicious and it would be best to steer clear of him. It's too bad content creators like his engagement and turn a blind eye to what he is. He really should be blocked after over 6 months of his constant trolling.
Join The Credit Club: ruclips.net/channel/UCvzpwxUY1EH_v-tquMXUZ-gjoin 👈🏼
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What are your opinions on annual fee credit cards? 👇🏼
Say you upgrade freedom flex to sapphire preferred, does that count as one for 5/24 rule or no?
You covered a lot of topics within the CC game in this video with detailed and honest thoughts throughout! Best of luck with the new place!
Great video Spencer! I think that going the Hyatt route is probably better than going the Southwest route unless you plan on taking lots of flight with a P2 over the next 2 years. The biggest draw for the Southwest personal/business combo is that companion pass so if that’s not high on the list, better to pound expenses onto a Hyatt card!
This is great advice! My husband and I are parents of 3 littles, so jetting off for several weekend getaways a year won't make sense. We can't make use of that companion pass anytime soon. But we DO travel as a family 1 or 2 times a year, and transferable currencies are super helpful to us.
Thank you Stan! And that’s a great point. Part of me thought just adding the business card right now would be smart so I could lock in a lot of SW points without adding to my 5/24 count, but the companion pass isn’t super high on my priority list right now. I hope by the end of the year they give the Hyatt cards a new bonus or something now that MGM isn’t partnered with them anymore, but I’m not holding my breath. But putting a lot of spend into the Hyatt card for a while is definitely not a bad idea. Good suggestions Stan, I appreciate you!!
Love that you were able to still find creative ways to accumulate MR Points while gardening (Retention Offer & Checking Account!) Like you, I've been seeing more and more value in Hotel & Airline Cards, and that is a huge reason why I've continued to add Hilton Cards & hope to add the Chase WoH sometime soon as well. Great video Spencer!
You know me.. I’m gonna find a way to get more Amex points if I can help it lol. Airline and hotel cards are definitely on my list soon enough! Thank you for watching Matt!!
these are my favorite types of video man!
Solid Video. So many things in here that I always talk about
Thank you Sledge!
I loved this video Spencer. Hearing your thought process about where you have been at the past few months up to now and what your credit card roadmap looks like now and being thoughful about what you want to add next was thought provoking for me. Some things to think about now. Thank you man!!
I’m really happy to hear that!! This was honestly a really fun one to make. I feel like everyone should sit down and make a video like this, even if they don’t record it or speak it out loud. It was super helpful in giving me better direction for myself going forward. Thank you for being here man!
My first video incoming soon. And its a pleasure man. I really enjoy your content!
ah nice! I do remember u trying to apply for the amex plat. I got the BILT card for basically the same reason as u mentioned. It's good to have and it will only keep improving.
Just added the freedom unlimited to my setup. Getting the 5% grocery offer as well as getting that 1.5% on misc purchases.
Congratulations on that! It's a super solid card in my opinion. Especially with that welcome offer.
Great video! Get that Hyatt card when you can!
we are at very similar points in our journey, im just behind you, will be really diving into the business cards very soon
Another person out of ATX here who primarily flies SW! A Chase predominant setup is really good in this area with the Sapphire Terrace and ATX being big SW hub. I’ve forsure seen high upside with the SW companion pass and Sapphire lounge when traveling 🤘🏽
I have the personal plat and business gold and Amex just played me by denying me on the Amex Amazon 😭
This was an awesome video, and really grateful I found your channel! I got the 150k bonus with the Platinum 2 months ago, but feel as though it is a big reach to justify that annual fee for me personally after having the card thus far. Currently I have the, CFU, zero annual fee Savor, and delta platinum. Thinking of simplifying and going with the chase trifecta or the Cap one duo as it seems you’ve gotten a lot of value from your venture x. I’d love a video of you showing Chase Trifecta vs Cap One duo in the future! Thanks for all you do Spencer!
Another great video as always Spence! Finally completed my Chase Trifecta by getting approved for the Chase Freedom Flex last week! So happy I dont have to worry about no 5/24 rule. I was also contemplating on the southwest card, cant go wrong with 2 free checked bags lol.
Great points Spence!
Im gardening as well, until dec/jan.
I will also eventually add a hotel card to the collection at some point.
If the Gold is too much for you, have you thought about adding the Savor 1 to pair with your Venture X?
Great video and congrats on that retention offer from Amex. Stay cool this Texas heat is brutal.
Love your content Spencer! Found your channel last week and it’s been awesome.
Thank you so much! I’m happy to have you as a part of our community!
Right on Spencer. I’m respecting your transparency and looking forward to seeing more from this channel. Keep up the good work.
Generally believe that building credit is important, credit cards are a means to do that, owning property, having equity in your home, having substantial savings and investments are significantly more important than earning points on credit for travel. Travel does not pay dividends.
Lol it doesn’t have to. Travel pays you experiences, experiences that you’ll remember for the rest of your life as time goes by, which will never come back unlike money
@@gabriel08607 you sound like you're in your 20s
Just wait
@@Human_Organic Lol what does that have to do with anything
@@gabriel08607 yeah, you're definitely in your 20s
Just wait
@@Human_Organic I am 44 and memory dividends are a thing. You do need to save and invest but as well optimize in everything that you do. Joy brought by experiential memories especially with loved ones definitely pays dividends in a much larger way then money.
Another great video. Since I just picked up the VX I think I may garden for six months until I can grab the Savor One for the grocery category. I think my 5X groceries on the CFF ends in November. I guess I'm slowing down because there isn't really a card that excites me right now. Maybe if the Strata comes along...
I just changed my credit card setup and I think I’m really hype about it. Had the chase freedom flex, unlimited, and preferred; and was looking to move into a citi/chase hybrid setup. But instead I opted to get the Chase ink cash, and most recently and my new driver, the altitude reserve. I don’t fly a ton so the 4 priority passes are perfect; it has an effective annual fee of 75, and I use it for gas and grocery (when the flex isn’t in those categories) for effectively 4.5x on all digital wallet purchases. Next card is gonna be the cash plus from US Bank for bills; and I think I’m pretty set. A cash back / points system feels the best right now with the current economy imo
Good job on the plan, those are some good cards to get.
So I’m brand new to the credit card game and I just applied for my first real credit card (American Express gold) my credit score is 720 at the moment. I want to eventually have the chase trio and the Bilt for my rent. What timeframe should I be looking to acquire all of these and how long should I wait between applying for credit cards. I’ve been doing a lot of research but I am still new to the game. Any advise is appreciated!!!
Another great video! Have you put some thought into the C1 Savor One card since it has no annual fee and 3x on dinning/grocery stores as well as other decent categories such as entertainment and steaming services as a replacement for the Amex Gold Card? Even the Savor Card with a 95$ annual fee has 4x on dinning (3x) grocery stores which is as good or better than the Gold Card. Both have a small SUB and are good feeder cards if you do not want to use the cash back method and just convert to miles for the Venture X. Keep up the informal style of videos!!
Thank you so much Steve!! I have definitely considered the Savor One. From a point earning perspective, it's one if not the best no annual fee credit card in my opinion. However, once I move again in the next few months, the Gold card will regain it's value again. I just don't have much opportunity to use the credits right now which is an argument for a card like the Savor One instead of the Gold card... that could be my setup one day, but with how much higher I value my Amex points right now, I'm gonna ride with the Gold a while longer thanks to that retention offer.
Build a team cashback deck and tell your strategy when your switching to team cashback
If you had the Platinum & Gold would you close out your Amex trifecta with the Green Card or BCP/BCED ? Nice video
Great video Spencer! I got an Amex Platinum in 2021 with a bonus and then I downgraded to the Gold. Now I have an upgrade offer to the Platinum again for 25000 MR bonus. Would I still get it since I got a bonus initially? Or are upgrade offers different?
So what about putting your rent on the card or account from Yotta bank? With them you have a chance to get your rent for free and general purchases can also be paid by them. I know everyone on RUclips is suggesting the BILT card if you pay for rent, however I would rather have less apps and different types of points to keep track of but maybe thats just me.
Excellent content Spencer!!! The WOH is also a card I have in mind to get down the road. After that I’m planning to set my feet with team cash back, planning to shift directions towards US Bank credit cards
What do you use for groceries and dining if you give up the Amex Gold?
The Amex Delta purple card is very attractive to me.
Right there in rethinking my credit strategy too. The difference for me is that I just will never buy a first class flight. Not that I won't travel but I'm fine sitting in economy plus reading and sleeping for 8-12 hours. I don't need tons of points as I wont be redeeming them in great 2/3 cent per point redemptions. So I'm switching to cashback and just investing any cashback. To me I'd rather have all those credit card fees and luxury travel trips invested so I can afford more cheap(er) trips.
Where would you anticipate getting value from the Amex Green if you were to downgrade the Gold? I'd assume you have Clear and Global Entry well covered several times over by other cards at this point...? Or is it just that matter of a pure lower AF without closing?
I love these kinds of videos because I always like to hear other strategies. Im constantly thinking about moving to team cash back. I have a good set up to start it and I'm curious how much money that would put in my pocket. I also think Team cash Back might be more efficient for Domestic Economy, less often travelers.
I’m glad you liked it Luke! I completely feel where you’re coming from. I’m constantly debating adding more cashback related cards (that double as domestic travel cards in a sense), especially if they compliment my current cards well too.
@@SpencerJohnsonOfficial I keep running systems in my head that have no fees and much less thought. Maybe when my boy is busier and we can’t travel as often
That’s exactly what I assume will happen one day for myself. I’ll probably go pretty hard with the travel cards until my family will get less value from it and switch to a more simple setup. Who really knows though haha. Maybe I’ll switch up sooner, idk!
@@SpencerJohnsonOfficial I’ll be honest. As a full time RUclipsr, I could see a lot of value in cash back cards for the first 24 months or so for you.
In what ways exactly? Now you’ve got me interested haha.
Right now I’m aggressively gardening for when I get hopefully approved for the venture X later down the road like we have talked about. My last approval and application for a card was the citi custom cash back on 2/11/23. What’s great now is that you can check if your pre approved for the VX via the pre approval process. They said I need to decrease the number of recent hard pulls for their algorithm which is fine to keep waiting. The other one is number of accounts which might be their version of 5/24. Right now I’m 7/24 but I’ll be 5/24 in April of 2024.
Yeah man, I’m super excited for you to finally get to pick up the VX. Their inquiry and new account sensitivity is definitely annoying, but you’ve been working at it for quite a while so I’m looking forward to you finally getting to add it to your setup.
@@SpencerJohnsonOfficial yeah man same. I don’t think I’ll be approved this year which is fine. But I’m paying down my credit card debt (which is like $4k so it’s not to bad) before I would even think of applying. Because my rule is to have a super low reported utilization before applying for a credit card.
Currently at 4/24 waiting for Q4 and go for CSP and increase in bonus. I also have my eye on Hyatt card from the personal side.
@@jeffreyplatt7703if you’re carry a balance you’re losing the game. Period. Unless it’s 0% apr.
I enjoy watching you on RUclips ❤
"Whenever your book your Maldives trip ... which you never actually do, BTW...."
🤣 - as Homer Simpson would say, "It's funny because it's true!"
Hahaha I’m glad you liked that!
Great video! I think. Haven’t watch yet but I know it will be!
Thank you man! I hope you enjoy!
Might I suggest a different route?
After your ink unlimited in September, get the ink cash later in the year. Then refer your girlfriend to both of these cards. No annual fee's and you will end up with 400kish chase points. You will also be way under 5/24 by the time you finish.
I am working on my 4th ink bonus of the year.
Been super interested in getting the Hyatt card . I have the chase trifecta as well as my AMEX gold . I’ve stayed at two of their properties this year and plan on another at the end of the year . It seems to make sense but I fear as if it’ll take away from the versatility my chase trifecta has . Only reason why I keep the sapphire open is because of Hyatt being a transfer partner . That welcome bonus isn’t all that great either honestly :/ but it could be worse !
The year 5% bonus for a year is back on the Chase Freedom cards. It is gas category
Great content as always
If you fly SW a lot. Then you should definitely get the CP. And you don’t even have to add to your 5/24 status. Instead of one personal and one biz SW card you can just get 2 SW biz cards. Obviously apply in November or December then make sure you don’t hit the spend until the start of the year. I’ve seen so many people post that they got the sub too early and ruined their chance at CP.
Quick question. I applied for a chase card, but I ended up with 2 hard inquiries for that single card because I accidentally inputted the wrong information when registering for the card. So I had to reapply. Will that first inquire count towards 5/24 rule if I where to apply again for another one of there cards? Or would it be overseen since its 2 inquires for the same card?
Glad to hear your thoughts on Team Travel vs Team Cash Back. Sure its nice to have friendly digs at each other. But looking down on one vs the other is uncalled for. We are ALL on the same team. Team Credit Cards. Just like there is Team Gold vs Team Rose Gold 😂
That’s exactly right man!! We’re all just here trying to make our lives a little bit better at the end of the day!!
Here's my setup: U.S. Bank Cash+ for 5% back on utilities and internet. Citi Custom Cash for 5% back on groceries. U.S. Bank Altitude Go for 4% back on restaurants. Chase Freedom for 3% back on drugstores. Wells Fargo Autograph for 3% on gas. Paypal credit card for 2% general use. All zero annual fee.
Nice!! No annual fee setups are great for those on team cash back!
For the Hyatt card, does the free room have to be for a one night stay? Or can you use one free night in a four day stay then pay for the remaining nights and not have to switch rooms at the hotel? Sorry a bit confusing of a question
Good question! To my understanding, you can use a free night no matter how you book the trip (cash or points). So it just covers one of the nights of your stay but you don't have to switch rooms.
@@SpencerJohnsonOfficialawesome! Thanks for replying!
No problem!@@wichertj3
I m really waiting for the Citi Strat cards coz I use Double cash and Custom cash as my daily drivers at this point
The problem with southwest in Texas is no lounges 😭
I really feel you on the annual fee cards. I love the Amex gold multipliers, but I wouldn't make use of the credits. I might use $20-30/year, and yeah sure I could use Uber more and eat out more, but like you said, that's not really a credit since it's money I wouldn't be spending otherwise.
I have the SavorOne instead, and looking at my spending habits, I wouldn't spend enough to make up for the annual fee.
I’m glad you resonated with that! Once you aren’t able to get value from the credits anymore, the Gold card really loses its appeal. The Savor One is a much better option for a lot of folks.
11:17 hotel cards are great! I like knowing that every year i have 1 free night credit, that I will 100% use / even without having the card, I will have still paid for it.
So in my head I justify it.
That's a strong argument for them for sure!!
Why not get a second ink card b4 adding anymore personal?
I have been gardening for over a year now. I will be going after the Wyndham business and ink cards by October. I’ll be 3/24 in November and hopefully the holiday’s bring some big SUBS.
Ed! Thanks for joining the membership man! Sorry it took me till now to get to your comment but I'm excited to see yours every time you leave one now. It sounds like we have a pretty similar trajectory right now though! I drop to 4/24 in September and am probably gonna add an Ink card right away. Then I'll be gardening till early next year where I'll drop even lower. But if a really good SUB comes out on a card I've been wanting, I'll probably pick that up at the end of the year too.
Great thinking. I’m not on airline cards yet. But yeah; I try to avoid AFs I can’t easily justify (notices my $550 card looking at me with worry). I have a sneaking suspicion that the WoH cards might finally see some changes in light of the MGM/Marriott moves. I also see those cards undergoing a LOT of changes (some I’m worried about down the line).
Great stuff as always.
Thanks Matt! Airline and hotel cards are definitely intriguing me lately. The SW business card really doesn’t look too shabby and may be one I consider adding later this year.. we’ll see! I’d love to see some positive WOH changes soon. If it happened by the end of the year then it would be hard for me to not pick it up. Thanks for being here as always!!
I snapped up the Hilton Honors right before the end of the promotion (couldn’t use anyone’s referrals annoyingly) so I’m happy about that FNC and building hotel diversity.
WoH has this weird $350 statement credit on a booking signup with only 5000 points via dummy bookings; not what I’m looking for, but intriguing instant value.
I can only hope that the Marriott/Chase relationship survives the start of the Marriott/MGM deal.
Hotel + Airline CCs are definitely worth it if you can get value from the perks offered (FNC, checked bags, companion cert, etc). AF CCs are the same if the math works out. If not - downgrade/cancel and move on. Thanks for the info + video.
Meh. Hotel cards are touchstone piece. Not foundational. IMO
Would a line of credit from Citizens pay ( Xbox All Access) or TD Bank ( Samsung Financing) count against the chase 5/24?
If its a credit card that reports to your personal credit report then it adds to your 5/24 count unfortunately.
Although the math might make sense for cards with annual fee, All the credits on high annual fee cards are starting to get really annoying
I might be misunderstanding, but what is the exact reason for staying under 5/24 if you already have the Chase trifecta? Is it just in case Chase releases another CC that you'd want to apply for?
The 5/24 rule extends to Chase’s co-branded cards as well with partners like World of Hyatt, Southwest, United, IHG, Marriott (for now), British Airways (etc), and AirCanada’s Aeroplan card. If you want any of those, you’ll need to be under 5/24, same with their associated Business cards.
I honestly couldn’t have said it better than what Matt did here. There are so many other Chase cards I could still pick up that it’s nice to be under 5/24 if at all possible.
if im at 6/24 but i only want a chase business card since i have the sapphire preferred would i get denied or ?
Technically yes you’d be denied, but some people are able to get lucky and get around it. The majority of people need to be under 5/24 to get approved for any of Chase’s cards unless you have a mailer with an invitation code on it.
What are your thoughts on the fidelity rewards credit card which gives back 2% cash back which can be used to invest in the fidelity brokerage account?
I actually talked about that card in my catch-all credit card video a while back! I think it's a solid cash back credit card, but if you want to travel a bunch, it doesn't help you a ton there.
@@SpencerJohnsonOfficial thank you and yes I was considering getting it in early 2024 as my catch all card as I am currently using the freedom unlimited as my catch all because of travel points.
Are you putting personal expenses on your business card?
So 6 months in and im going to end up canceling the Amex gold card, before it renews next year. Just going to stick with the chase cards
That's fair! However, definitely leave it open for the full year. They'll clawback points and everything if you don't.
@@SpencerJohnsonOfficial since I don’t need the points, might use them for an Apple Watch ultra 😂😂😂
Haha I guess you could!! It'd be a bad redemption rate I imagine, but if you don't want to transfer them out to travel partners then I can see why you'd go that route!@@EfLuis
Just curious, what do you not like about the card?
@@docsays not worth the annual fee
I’m on Amex pop up jail. It is probably because I pay off my cards and pay no interest on my Hilton card.
I’m first, I don’t care what anyone else says. Here’s my medal 🥇 too cause I know Spencer won’t give me one 😂😂😂😂😂
Hahah that’s a rose gold medal if anything… 😉
The 5/24 rule is not a concrete rule.
Hi spencer😀😃
Hey Pablo!! 👋🏼
@@SpencerJohnsonOfficial thank you spencer😀😃🤝🙏🏻🙏🏻🙏🏻
Hyatt cat 1-4 ain’t worth $500 lol
The good category 4s cost at least $200 and when you consider the price of booking during a peak time, they can reach a lot higher than that. Obviously those numbers weren’t exact, but hopefully you still get the point.
Yo I swear if you don’t put that mic on a stick.
👍🏻
You beat me this time!
He’s done it!! Congrats on #1 👑
The "team" mentality in this community is off-putting... If you really wanna label it that way, we're all on Team Rewards vs Team Banks... And when you frame it that way, Team Rewards ALWAYS wins!
That's fair! Of course, we're all on team rewards at the end of the day, but there's still a pretty big distinction between people who go for travel specific rewards and those who go for cashback rewards. In the end, I think a lot of folks mix and match cashback and travel cards so we're all a bit of a hybrid.
@@SpencerJohnsonOfficial i agree with your hybrid comment... i guess that's why the "team" lingo is weird to me, maybe because i don't feel i fall into either team haha
That's completely fair man! I think you have a similar strategy to most people at the end of the day. I'll actually talk more about that in next my video next Wednesday!@@bennnnnnnnnnnnnnnnnn
@@SpencerJohnsonOfficial sweet, I'll be sure to watch! Recently spent a week with my wife and 3 kids at a Vacasa near Gatlinburg, TN.. inspired by Frequent Miler... Citi TYP to Wyndham points, 15k Wyndham points per night (1 bedroom cabin).. this was my first time ever using Vacasa and also first time transferring cc points to a partner... Happy with the outcome!
I’m out of the game… jk, just wanted to say something like my favorite commenter 😂
Hahah good ole Jason Kazama.
@@MrBankRelations ngl, I do always get a chuckle out of them😂
I would reconsider him being your favorite commenter. I have noticed some strange and disturbing patterns in how he comments. He only seems to leave his comments on white male credit card channels like Adam, Mark, Ben, and Spencer's. When I asked why he doesn't comment on Ask Sebby, John Liang, or Brain Jung's CC videos he couldn't give me a good answer. He then went on to claim he was "African-American". If he is black, why doesn't he support RJ Financial, John Cannon, JP Knowledge or your channel with his engagement? This guy is very suspicious and it would be best to steer clear of him. It's too bad content creators like his engagement and turn a blind eye to what he is. He really should be blocked after over 6 months of his constant trolling.
First, jk I got third
People were ready this time! Great work nonetheless 🥉
My strategy: leave the game and never come back.
He's back and better than ever!
@@MrBankRelations that's crazy
1st
So close! 🥈
King