My FULL Credit Card Strategy 2023 (Exposed)
ฝัง
- เผยแพร่เมื่อ 24 ก.ค. 2024
- It’s time to revamp my credit card strategy for 2023! Take a look at my favorite credit cards to use and which ones I want to get for more free travel, cash back rewards, and more! Click “Show More” to see Ad Disclosure, links, and additional information below.
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At the beginning of a new year, it’s a good idea to take an inventory of the credit cards you already have, which ones you want, and why you want them (i.e. what goals do you want to achieve?).
For me, my 2023 credit card strategy has 4 parts: CHASE credit cards, CORE credit cards, SUPPLEMENTARY credit cards, and NEW credit cards.
The overall focus will be primarily on cash back credit cards and secondarily on travel credit cards.
For CHASE credit cards, I’ll be using the Chase Freedom Flex as often as I can. That’s because the Chase Freedom calendar allows you to earn 5% cash back (issued as Chase Ultimate Rewards points) in useful, everyday categories that change every 3 months. Since you can earn at the 5% rate on up to $1,500 in spend per quarter, that’s 7,500 Ultimate Rewards points alone! There’s also the Shop through Chase portal and Chase Refer a Friend program to earn even more.
For CORE credit cards, I’ll be using my American Express cards (Amex Platinum for Schwab, Amex Gold, Amex Green, Amex Blue Business Plus) as my main 4, plus some additional cash back credit cards with no annual fee. Since I redeem my Amex Membership Rewards points for cash back into my Schwab brokerage account, it makes for a great cash back setup.
For SUPPLEMENTARY credit cards, these are the ones I use for more isolated situations. I use airline credit cards (currently just the CitiBusiness AAdvantage Platinum Select) for perks / benefits, but not for spend; hotel credit cards for the same reason, but also for spending directly at hotels; and miscellaneous cards for select airport lounge access, individual retailers (e.g. using my U.S. Bank Altitude Reserve card for Costco and Target), and for other reasons like when I want 1 credit card for everything.
For NEW credit cards, there are currently 8 on my radar, one of which is the BILT credit card.
Disclosure: This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor.
#creditcards #bestcreditcards #americanexpress - แนวปฏิบัติและการใช้ชีวิต
⁉ *WHICH CARD do you want most in 2023? Tell me below!* 😃👇
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Get Gold level for free with PROMO CODE = markr
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💳👉VIEW CREDIT CARD OFFERS!
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🛍 RAKUTEN - Earn Cash Back!
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Just used your promo code Mark.
@@bradfordtransportation3832 - Thanks Bradford! Give it a go & hope you find value in it.
Am looking to build Chase trifecta, need Freedom Unlimited, and US Bank Cash+ card. Then might apply for a business card, my first Amex, and another Navy Federal card. Will wait till near end of year and then may just do an app spree.
@@a3sully - Sounds great!
I would love to see a video all about cash back cards that you can deposit rewards into a bank account instead of statement credits. I think that’s a strategy that many people would be interested in 😉
I get the idea of why people don’t like statement credits…but why not redeem for statement credit and then take that cash out of your checking and into a separate account. It’s functionally identical.
I think sofi lets you do it. Im not sure since i focus on trabel but ive heard my friend mention it.
Thanks for the suggestion, Anthony! 🎬
US bank cash+ let’s you deposit into your checking account with them. You must have at least $25 to transfer. Also they waive the checking account fee for having a credit card account with them.
I really enjoy your videos.. Im learning soooo much..Thanks Mark!
Glad to hear it! 💯
Nice strategy + setup. Very interesting! I really like your hotel CC setup with all the FNCs you get. Thanks for the info + video!
Glad you enjoyed it!
Great strategy Mark! Your videos have helped me decide on what cards to put in my wallet! Looking forward to expanding and looking forward to hearing your experiences with your current and new cards.
Glad it helped, Max!
Definitely some interesting new cards that you're looking into for the year. I'm definitely planning to get the Bilt card myself! 😍
Legit! 💯
Another great video
Thanks Jose!
Awesome video as always 🙌🏽
Thank you 🙌
Hey Mark, I can answer your questions about the Paypal CC since I have it, it is indeed issued by Synchrony bank but it is managed through the Paypal app/website, the cashback shows up instantly after your transaction has posted, and it is redeemed to your paypal balance, after that you can transfer it directly to your bank, although you have to have at least $1 to redeem your cashback from the card to your paypal balance. Overall, very solid card when paying via paypal.
Ya i like it too
Awesome thanks for sharing these details, Erick!
Great strategy mark. Good options for new cards to. I like the paypal card. Works great.
Thanks Doc! Glad to hear you like the PayPal card 💯
Loving the strategy Mark! Like you, I am also looking to add the Bilt card this year. I think everyone else is too with how much hype it's been getting lately 🤣 Also, I think your focus on simplicity this year is something I strive for as well. I like to get the max earnings for all my purchases, but sometimes simple is just better. Great video!
Thanks Spencer!
Great video. I like your strategy
Appreciate it!
Love the strategy. You just hipped me to a card I wasn't thinking about. The PayPal MC. I use PayPal a ton and hadn't thought about this card. Thanks for the heads up.
Glad to help!
I clicked so quick , I’ve been waiting for this video.
The wait is over! 🎬
Whoa Mark that’s a heck of a plan very nice, great video question i am looking at the Amex Business Plat however the spend requirement might be to steep for me but the perks I def could use. In your honest opinion does it make sense to get a card and not be able to hit the spend? Thanks and keep the great content coming
Hi Clausell - getting a card without a sign-up bonus can still make sense. I've done it myself with the Amex Gold Card and Capital One SavorOne. However, just because I (or others) have done it, doesn't mean you should or should not. Look at the ongoing rewards, benefits, etc. Then look at the cost (i.e. annual fee) vs. the value _you personally would get._ If the value outweighs the cost, then it can make sense.
I'm interested in increasing my travel with a travel card. I frequently fly American airlines so I will be analyzing the best card and perks with them. I am looking forward to getting an option for seat upgrades through status.
Sounds good!
Liked and subbed cause ur intro was on point. 😆
Thanks Sir Koux! 🥇
Whoa! 9-card core setup! That's ultra-maximizer status right there! Cool strategy Mark! If Amex comes out with their fabled Optio card (b/w Platinum + Centurion), I'm going to be all over that one - I'm guessing you would be too!
And yet what I'd like even more is 1 card to rule 'em all (or at least several) 👊
11:06 this part made me laugh, I love your videos, Mark! I'm doing a ton of research on credit cars rewards because I love to travel but I don't like spending money. I only have one credit card at the moment with my local credit union, but I'm planning on adding Chase, BILT, and maybe Capitol One to start racking up those points
Glad you're enjoying the videos! Since you like to travel, it sounds like you've got your eyes set on the right issuers ✈️ Continue spending only the money you'd normally spend in cash. Smart financial habits ought to be in place first prior to using credit cards. If a certain sign up bonus has too large of a spend requirement, avoid it ✌️
Solid strategy!
Thanks Chad!
With my 2023 card strategy in line, I am using the cash back setup with the OG Chase Freedom and Freedom Unlimited. I love these cards because the Freedom Unlimited has one of the best catchall card and OG Freedom grants me 5% quarterly cash back for select categories.
I think my last card is the United Gateway for anything United related flight awards. I am hoping to extract the maximum value of the card before I sock drawer it.
Those 2 cards work really well together, great choice!
Nice Video sir. What are your thoughts on a 2 card Amex strategy. Blue Cash preferred & Amex Gold.
Gas
Grocery
Restaurants
Streaming
Transit / Flights All covered.
Happy New Year!
Sounds good provided that you:
- Spend enough in those categories
- Don't need/want to maximize non-category spend
- Can use enough of the credits on the cards to justify the annual fees
- Want to earn a blend of cash back and travel points
- Shop at places that all accept Amex
@@MarkReese Thankz ! For insight. Maybe.a 3 card setup is best. Use my SoFi CC for 3% non category spend. I’m thinking simple in 23.
I forgot about the Wells Fargo card, will be interesting to see if it's a travel card that has the built travel partners
That'd be awesome to see ✈️
Hey hey, shoutout to the Discover It card 😃😃😃😃. Excellent video Mark, idk if I’d be as dedicated to manage that many cards 😂😂. I’m trying to build up my Chase UR points too, mainly to use for Hyatt. I’ll be looking at getting the CIC for that 90k SUB, and I may as well get the Bilt card as well. I really have to checkout Max Rewards.
There's a reason I've had my Discover it since 2016 😎👊 Good luck on that Ink Cash application if you decide to go for it!
How do you add the BILT card to MaxRewards? The Wells Fargo log in doesn't work
It appears when you sync with your Wells Fargo account. The connection is having issues for some people, so keep trying throughout the week.
For your curiosity, the PayPal Cashback Mastercard is managed through PayPal. The cashback is earned when the charge is posted and has to be redeemed to PayPal balance with no minimum requirement. One thing to note is that if you pay by PayPal, it will choose to use the PayPal balance first so make sure you move it somewhere else right after redeeming since paying via the balance doesn't generate any rewards. Unfortunately there is no longer a SUB for this card.
As for myself, I probably should pick up the Amazon Prime Rewards card. I have a BOA Customized Cash and Platinum Honors for wholesale clubs and online purchases, but I have recently been going over the $2500/quarter limit so I need to spread out the spending. For other cards I have no plans unless I see a good SUB and the card makes sense for me to have.
Thanks for all the info above, Jeslena! Very helpful 💯
Does the gym memberships on freedom flex include things like apple fitness?
Not sure, my guess would be no. Here's a link you can browse for more info: creditcards.chase.com/freedom-credit-cards/flexfaq
I'll be earning my lifetime platinum this year. I have SW, United, and AA as well as Hilton and business and personal cards and the Amtrack card. I looking at IHG or Hyatt as I'm under 5/24.
Awesome!
If you don’t have Schwab, you can get a Amex Checkjng account and that gets you cash back at 0.8c per point instead of the 0.6c per point for a statement credit. Benefit is that you can transfer the cash out of the checking account too.
Correct 👍 However, to me anything less than 1¢ per point for cash back is not worth doing in most situations.
@@MarkReese Totally get it. Was just putting it out there just in case someone did want to go down the cashback route without a Schwab account so that they could get better than 0.6c per point.
Hey Mark, How do you have more than 4 Amex/Amex branded card at once? I am having a hard time with that since I have 3 Amex cards already and cant choose which card to use for last slot
Generally, Amex allows you to have 4-5 'credit' cards and up to 10 'charge' cards.
Yeah my strategy for 2023 is to build more Chase UR, followed by Amex MR then Capital One Miles and Citi TY. My first priority is Chase followed by Amex. I just got the CSP so working on SUB. (My 2nd Sapphire bonus). I'm 5/24 now so I'm done with Chase for a few months. Honestly idk what other cards I need or want for a while.
Great that you're focused on some of the highest-value points out there! ✈️
I'm 6/24 now since I picked up the amazon prime card. I'm happy with my chase setup and don't think I'll venture out into other setups.
Sounds good! Congrats on adding the Amazon card!
nice
👍
I'm trying to get the freedom flex since I already have the freedom unlimited and the Marriot bonvoy bondless from chase
Awesome!
Waiting to upgrade my Boundless to the Ritz💥
That'll be an awesome day 😎
So how are you coming up ahead despite the annual fees on all of these? Huge yearly spend? Referal bonuses?
Here's a link to a video that will give you an example of how it works: th-cam.com/video/2mA6unQQdJw/w-d-xo.html
I need some hotel cards added to my mix for sure.
Make it happen!
Hey Mark, can you review the Best Western credit cards issued by First National Bank of Omaha please?
Perhaps at some point!
Great vid
How do you redeem points from your us bank altitude reserve??
Thanks Kemar! Are you asking about the steps to redeem the points? Or how I personally use them?
@@MarkReesethe steps to redeem the points?
@@hanchardjo - Here are the steps...
1. Log into your U.S. Bank account from a desktop computer.
2. Select your Altitude Reserve card.
3. In the middle of the page, you'll see a box with a light blue background & a link that says "Go to rewards & benefits." Click it.
4. You'll then be taken to the rewards portal to see options like redeeming for Merchandise, Gift Cards, Cash Back, Travel, and more. The menu options are listed across the top of the page.
Hey, I love your videos I've been watching them for a while now. I thought I was a sub but now I am. I'm planning on getting a travel card in the summer. I want to travel about 1-2 times a year I was thinking of getting the gold and the plat Amex. Any thoughts? I would be using uber, the Digital Entertainment Credit, and the Airline Fee Credit ( well as much as I can when I travel) for the plat. and I would be using the Dining Credit and maybe uber as well? any thoughts? and would you recommend Amex?
What kind of travel are you planning to do?
@@MarkReese well, mostly in the states right now. I want to start traveling about 2 to 3 times a year. and probably traveling to Europe or South America in about 3 years or so. And most of the time it would be me and a plus one
@@santiagososa7514 - Chase tends to be strong for blending domestic + international travel. It's also an easier overall program to use.
Amex / Citi / Capital One tend to have better options for international travel, but they require more effort to learn.
That said, any of them can work well for all types of travel.
If you want to use 1 card system for now, I recommend researching topics like "How to fly to [name of place] with points and miles." There are a lot of full-time travel bloggers out there who write about which points they use to travel to certain countries / cities. Go with the system that gives you the best options to where you want to go.
@@MarkReese Thank you !!!
hey mark off topic question I been meaning to get a card to use on Amazon purchase. What do you think is better the Amex prime business or the prime chase visa? Or do you have any other cc recommendations that are 5% or better for online purchases like Amazon. Thanks
Both the Amex and the Chase options will give you 5%. However, a couple things to keep in mind...
1. Amex generally allows around 5 credit card products per person, meaning the Amex version will use up one of those slots. On the positive side, as an Amex business card, it will not show up on your personal credit report & therefore not count towards your 5/24 status with Chase.
2. Chase does not have a known limit to how many card products you can get. Getting this version, therefore, would not use up one of your Amex slots. However, Chase does have the 5/24 Rule, and since this is a personal card, opening it would increase your 5/24 count.
An alternative card to look into is the U.S. Bank Shopper Cash Rewards Visa Signature card. It has a $0 annual fee in Year 1 (then $95 starting in Year 2) and can earn 6% at Amazon while also not using up an Amex slot. Opening this card will increase your 5/24 count.
There's no right or wrong here, rather, just a few options with things to consider based on what you care about.
@@MarkReese thanks
I noticed you had and use the Schwab Platinum card, do you know if your able to transfer MR points from another Amex card to your Schwab account or does it only allow you to transfer points earned from the Schwab card. I have about 600k amex points currently and was thinking of getting it to cash out some into investments since i dont plan to travel much or at all this year.
Amex MR points earned across all cards are combined into 1 point balance (provided you use 1 login). So, by adding the Schwab Platinum Card, you can redeem all of your 600K Amex MR points via Schwab if you like.
My daily drivers for 2023: WF Autograph, USB AR, AMEX Business Bonvoy. Do you get net positive value excluding TH-cam from the 40 some cards you have? Or is it a "necessary business expense" to support the channel?
Great cards! In years prior when I had 30+ cards, I did get positive value when traveling more. Nowadays, I'm not sure. Travel is down for me, so probably not. I'm more focused on getting cards out of curiosity / fun so I can learn how different programs work & do accurate / more in-depth reviews on TH-cam for better education.
@@MarkReese I understand. Thanks for the response. My travel is down also.
Total annual fees for all these cards is more than my total credit limit on my CCs😂 but seriously thanks for all the information on these cards. Using points to pay for my next trip
Well done on using points for your next trip! ✈️
Why so many Marriott?
Are their fees justified?
Must you earn them before RC card request?
Does United or AA offer a Reserve level card that grants seat upgrades and priority boarding beyond group 4? Bilt is the truth, especially on the 1st.
1. The fees are justified for me. Each Marriott card offers 'free' night certificate.
2. You only need 1 Chase Marriott card to request the Ritz card.
3. No card from United or AA exists like that.
Point me towards your Chase Ink referral, if you have one. If the 90k Ink Business Cash offers stays around about until mid-February, then I'll try for it. I just got the 90k Ink Unlimited on 1/1, so I'm trying to space it out a bit, given the 1/30 rule and that Chase seems a little picky about velocity with their business cards.
Congrats on your approval for the Ink Business Unlimited, Max! Thanks for your willingness to use my link for the Ink Business Cash 👊 Here's the main link: markscreditcards.com/offers. Scroll down to the 'Business Credit Cards' section. On the page that follows, you should see the 90K offer 🏆
@@MarkReese Just got approved for the Chase Ink Cash. Hope that referral option gives you a solid bonus!
@@MaxWilliams247 - Right on, congrats!
BTW, Savor One reduces Vivid Seats from 8% to 3% next month.
Correct. Per the communication from Capital One, the Capital One Entertainment portal (8%) will have the full inventory of Vivid Seats tickets. Unsure about pricing discrepancies, though.
I recommend you getting Ink Preferred instead of Amex Green. Also get more Custom Cashes, this will eliminate Amex Gold. I eliminated most of my Amex cards, except Hilton and BBP. I still have Business Gold, which I got last year to pay the taxes (and get a bonus), but it's on a chopping block, since Ink Preferred and Wyndham Business beat it big time for my needs. I have Paypal card, got it just in case, and there was a small bonus, but don't use it, since I have a better card, which earns more than 3% on everything, and has no AF and no FTF. I also like USB AR, one of the best cards on the market.
Good cards above 👍 Already have the Ink Preferred. Good call on using it for travel / transit.
Hi would someone with only 1 credit card that was the persons very first credit card with low credit limit and after that only got Amex charge cards get approved for high limit new credit card ?
There's not a way for me to determine that ✌
@@MarkReese ok thank you 🙏🏽
Just got approved for the Amex Gold with a 90k point welcome bonus. Couldn’t pass up on this offer.
Fantastic offer, congrats Alex!
Max rewards is still having trouble connecting to chase and citi 😢
Really? Both of those banks synched for me yesterday. Try disconnecting both, logging out of MaxRewards, logging in again, and reconnecting.
I like Max Rewards, but the link to chase seems to be down more than it is up.
Same here. Here's the latest from the MaxRewards team:
"...banks don't have official APIs where we can access rewards, offers, credit scores, and other data points that we show and that our members love. Therefore, we have had to build our own connectors. At times, the banks make changes without warning, and those changes trickle down to use and affect our ability to sync accounts."
As of 1.03.2022, they now have proof-of-concept of a new method working. Extensive testing is now being done to get it ready to deploy.
@@MarkReese great news. Thanks for sharing!
Mark, I have a son and a friend living at my house and wondering if they apply for a credit card, can they include my income on the application? My son is currently unemployed, but I am paying his expenses. Our friend has a job, and is covering their own expenses. Can my income be counted in those situations? I'm trying to get my son his first non authorized user card, and some better cards for our friend.
Hey Shawn - I'm going to defer to the banks on this & let you decide what to do.
For example, here's what Citi says on their applications...
_"Total Annual Income, examples: Salary, wages, interest, dividends, rental income, retirement benefits. If you are 21 or older, you may include income from others that you can reasonably access to pay your bills. You do not have to include alimony, child support, or separate maintenance income if you do not want it considered as a basis for repaying this obligation."_
Read what each application says is allowed & then proceed from there 👍
Thanks.
I'd like to get the Bank of America Premium Rewards Elite card in 2023
💯👍
If you have the AmEx Platinum and the BBP then there's virtually no reason to have the Green. With your BBP, you get 2X minimum with whatever you charge on it; therefore, your real return with the Green in the categories which you use it (transit and non-chain hotels) is 1X. $150 divided by 1% is $15,000. That means you need to spend at least $15,000 on transit and non-chain hotels to make having the Green worth the $150; recalling, of course, that you get your Clear from Platinum. Once I did that math, I dumped my Green as soon as the year 2 AF hit. The BBP sets a great floor, which means cards like Gold and Platinum need to be bringing the thunder to add them to your wallet. Which, as well all know, they do.
Excellent points above, Stephen!
you should add chapters
Thanks for the suggestion, Faisal!
Mark I get that you're trying to make new content, but the last 3 videos kinda felt the same to me. I'd be more interested in you analyzing investment options for CDs or bank accounts or doing anything beyond the credit card space. Do a bit more finance than credit. Just my two cents.
Thanks for the suggestion, Babu!
Interested to see if the strategy stays the same throughout the year, looking forward to finding out!
😎👊
Max Rewards has not worked for Chase in almost an entire month…buyer beware if you chose to pay for the broken service.
Yeah it's definitely been frustrating recently, though the synch worked for me a day or two ago.
Here's what the team said...
"...banks don't have official APIs where we can access rewards, offers, credit scores, and other data points that we show and that our members love. Therefore, we have had to build our own connectors. At times, the banks make changes without warning, and those changes trickle down to use and affect our ability to sync accounts."
As of 1.03.2022, they now have proof-of-concept of a new method working. Extensive testing is now being done to get it ready to deploy.
Hey Mark, great video. Since you mentioned liking to fly through American. Shell / Fuel rewards has an affiliation with American Airlines so when you use a designated card you can earn AA miles, also check out American’s e-dining and e-shopping options so that when you use a linked card you can earn AA miles….e.g. when I bought TYCB for my kids with a linked card I earned AA miles, it wasn’t a lot but better than nothing and everything adds up over time.
Thanks Ryan! Yep, I linked my Shell / AA accounts 1-2 years back and also tried the dining program for a time. I no longer use them as I found them inconvenient, but they're definitely a good idea for those who want to earn more AA miles ✈️
Have you looked into the X1 credit card?
I have ✌️
MaxRewards keeps needing accounts synced. It’s not great
Hey Kevin - I share in your frustration on that. Do you know of any other apps that can pull accurate rewards data without synching?
@@MarkReese I tried the others ones on the App Store like card pointers, etc. Nothing showed me the info of my credit card benefits like max rewards did. Luckily Maxrewards just sent an email today regarding a potential solution next week and giving 1 month free gold to affected members. Really hoping they can find a solution because 5 of my credit cards are with chase.
@@Rawrued - I got the email, too. Hope to see a fix come through shortly 👊
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I’m not sure you should leave your Credit Card in your car. I wouldn’t.
A risk I'm willing to take ✌
These credit cards reviewers are all doing the same videos at this point.
Likely because this is the best time of the year to do the "2023" style videos ✌
Stop the BS on maxrewards and tell the people half the time you get locked out your credit card account and have to reset your password
Sounds like you had a bad experience. Did that happen to you? If so, which bank?
PayPal card is managed through PayPal app. When you click card it used to navigates you to synchrony still within the app but they updated it and now it's all in PayPal smoothly. Signing up for it just to test the UI is a waste. I use PayPal frequently so this is my 2% card over Wells Fargo Active Cash.
Great to know, thanks Rezalion!
Overkill
Yep 👍