My NEW Credit Card Strategy in 2024 (for MAX Value)
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- čas přidán 13. 02. 2024
- After a travel-packed 2023, I have to re-evaluate my travel credit card strategy for 2024. With travel plans being vastly different than last year, and shifts in value I can get from the cards I have, these are my plans on what I’m changing, adding, and even cancelling this year, which may include some of my favorites like the Chase Sapphire Preferred or Amex Platinum.
In this video, I go over a quick recap of the new cards I added in 2023 and why, the new card I’ve added in 2024 already, and plans for the rest of the year!
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![My OPTIMAL Strategy for Travel Credit Cards [2024 Ultimate Guide]](http://i.ytimg.com/vi/lxJSXgrZ6Is/mqdefault.jpg)
![My OPTIMAL Strategy for Travel Credit Cards [2024 Ultimate Guide]](/img/tr.png)
Which cards do you plan to add, change, or cancel in 2024? Have you had a major pivot? Let's hear about it below!👇
Quite a contrast from my strategy. Just recently I was on a trip and had to go to the emergency room abroad. I ended up paying >$1000 out of pocket for the hospital bill since I booked the travel on an ink card I was working on the SUB for. The very next day after I got back, I applied and got the sapphire reserve. Having the $2,500 emergency medical coverage is worth whatever opportunity cost I give up by not putting travel spend on a card I'm churning. I'm a SWE like yourself, and honestly, credit cards are a game more than a real needle mover in terms of finances. So CSR is the way for me. And purchasing travel medical insurance for trips abroad.
Totally resonate with you there about this being more of a game than a needle mover! Do you have insurance through your employer that covers personal travel? You bring up a great point that hadn't really crossed my mind there, given my employer's insurance does cover those cases!
Simply having a top tier card, you are covered for emergency medical by simply holding the card... you don't actually need to book any of the travel using the card, holding the card is enough... for trip delay/baggage insurance etc you have to book the cost of the travel to the card to be covered
Your extensive international travel experience made me subscribe. So many "content creators" just read off scripts but have zero firsthand knowledge.
Glad to have you here! I love traveling so I wish I could always do that content haha
I’m starting a new business and I’m looking for a card to be able to use strictly for, which would you recommend?
I noticed amex is getting really stingy with their points lately. I got the gold and green card last year but I'm in PUJ for the plat. After running the numbers, I'm thinking of getting rid of my gold because even if you use the effective AF, you still need to spend $250 on dining/groceries to break even with any other 3% dining cards. I was also thinking about getting rid of the green too since both the green (and gold) don't give travel protections like my chase sapphire does. I don't have any big international trips planned until next year, so I may just get a BBP, cancel the other amex cards and stick with a Bilt card for dining like you were thinking in the video.
I think that's a great plan. It's unfortunate that you're in PUJ for the plat (have you tried different methods like referral links or mail offers, if any?). Agree with you on the rest though, the effective annual fee is nice with the Gold, but when factoring in the opportunity cost, it isn't as great as it seems. The Green is in an odd spot imo. And protections are important, so I do think that's a smart move if you have any sort of trips coming up. The BBP is also on my radar too! It's a great catch-all card, but the 15k or 25k bonus is a bit low.. I wonder if it'll ever be raised! Thanks for sharing your experience!
PUJ?
@@darith770 Amex Pop Up Jail
Interesting strategy Kevin 👍🏽.
Have you checked the C1 pre approval to see if you prequalify for the S1 w/the bonus? If you only qualify for the “good credit” version, would you still pull the trigger on it bc you value the card that much for the multipliers?
Do you mean if I'd qualify for the $200 bonus? I would imagine it's possible!
@@KevinYang Yeah, that’s it. C1 can be stingy w/approving people w/lots of accounts for bonuses & a few CC CZcamsrs haven’t been able to get either the VX or S1 (w/the SUB). At least you already got the more important card; I know a few like Mark Reese & Chad money minutes ended up taking the S1 w/o the bonus.
@@qcman2000 That's a great point, I haven't! Although given Bilt's change w/ Alaska, it's possible Bilt is the more important card for me to get there, given the 3x on dining exists there as well!
does the 5x gas & 5x dining & 5x groceries for the Chase IHG Premier applies outside US? thanks
Note that those are not your typical flexible (valuable) Chase, Amex style points, and are worth much less. That said, looking at the print seems like it should!
Just get the Bilt and forgo the savior one as they both get 3x on dining. Bilt points are superior anyways.
Great point! My grocery spend is quite low anyways so those other categories may not be as useful too. Will have to think about that!
I have Bilt and want to get into Chase cards to double dip into Hyatt/United while also having option for AA transfers
@@Jiggy609 Bilt 🤝 Chase for those cases!
Didn't realize you're my Seattle homie. It's a good thing to follow you then. The only thing I would tweek is just going ahead and switching in the CSR instead of the CSP. Yeah it's more expensive and there's more to manage, but with those oversized values you've been getting from Chase, you as well maximize them for the addition %155 in af.
Ay Seattle! The CSR is an interesting one... cause I'm not sure what extra value it'd give versus the CSP or CIP, given the effective "$250" AF. I use Chase points via transfer partners which the CSR doesn't give extra benefits from, and no Sapphire lounges here
@@KevinYang True, I will be going thru JFK a few times this summer and I am looking forward to experience the Chase lounge. All I want is one good redemption with the 1.5 UR boost and the $155 difference is justified, I am hoping.
@@lewis20002000 Yeah those lounges there look amazing!
How do you feel about the new Wells Fargo transfer partners and lineup coming out next month!
How they do the transfer partners will make or break it imo
I wish the Green had a gas category since the Gold already covers dining.
Yeah overlapping categories can be annoying (like on the Chase side of things). Do you have a preferred card for gas?
Domestic: Citi custom cash: 5% or
Citi Costco: 4%
International: WF Autograph 3%
@@dannyanderson6189 Great choices, and Custom Cash is a really popular choice for that!
Does 3x dining on CSP work on foreign restaurants?
Yup!
How do you transfer the cash back you get from the savor one into venture x miles?
Go under your savorone rewards and there is a box called "Move Rewards"
Check out some of these guides! thepointsguy.com/news/capital-one-convert-cash-back-miles/
I read the guide and I’m still unclear how you can turn the cash back into miles. I have both cards. Sorry I’m new to this stuff
Hey Kevin, I have a slightly different approach. I would keep the CSP card because it is 3.1X on dining and 2.1 on travel. The .1% comes from the 10% anniversary bonus. I was able to use the hotel credit in Asia as the hotels are not expensive. For example, I was traveling in Indonesia to attend a wedding there and I was able to book 1 hotel night at a 4 Points Sheraton (the 4 Points in Asia are in a different class than the ones in the US) and combine it with my hotel stay booked with my Marriott Brilliant card (I am from California and the Marriott Brilliant Card is a must if you go to Disneyland and or Universal). The front desk is super friendly and combined it for me after I just told her that I have 2 separate bookings. I also have a Chase Ink Business Cash for 5% internet/cable/phone/Office Supply. The bonus was $900 after spending $6000 and the no annual fee sweetened the deal. As someone else has pointed out here, credit cards is more of a game rather than a financial decision.
Some great insight! The 10% anniversary bonus is nice, but I don't think the .1% extra really moves the needle much... Hotel credit makes sense too in isolation, but when I also have my Venture X and Amex Plat travel/hotel credits to use, makes the CSP a bit difficult in my specific situation. The Marriott Brilliant is amazing, I'm just not sure if I can commit to it without set plans for those credits this year!
Why not just get the Citi premier card?
I've thought about it, but adding another whole ecosystem to the mix would also add more mental load on both managing and leveraging those points. What about that card would you say is better than the SavorOne or Bilt options here?
@@KevinYangI have 3 custom cash cards 5X on gas, groceries and restaurants. The premier can be used to convert cash back to points. I myself have 3 custom cash and premier but I'm team cash back. The reason for the premier was the 80K SUB.
And the biz gold gets you 4x on transit.
Yup great point! Unfortunately don't think I benefit too much from it given my usual spend, but for those that do, it's a great way to earn some more points!
@@KevinYang I live near Seattle too and always pay to keep my car parked at one of the lots in the area so I get a lot of points off that category. 😀
@@joephillips5594 Parking in Seattle is a pain, so I understand haha. Don't forget that some Amazon lots are open to the public for free in the evenings and weekends!
I've grown to despise Capital One as a rule. BILT is better.
It's a sentiment I've heard a lot of - why do you despite Capital One?
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