My Credit Card STRATEGY for 2024

My Credit Card STRATEGY for 2024

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Hey credit Warriors welcome to the show And in this video I want to talk about My credit card strategy for 2024 which Cards I'm going to keep and which I am Going to cancel so if you know anything About me you will know that I love to Use credit cards to earn rewards and get Luxury travel experiences like business Class flights five-star hotels however Many travel credit cards charge High Annual fees and may not be worth keeping If you are not getting value out of them That is what I'll will be looking out For in 2024 so let's get into it and if You're new here hit that subscribe Button for more videos on credit cards And other personal finance topics Several times a week the Hilton Honors Surpass card all right so first up we Have the Hilton honor surpass card I got It right here this card it had some Changes in 2023 and they also increased The annual fee now they took away the 10 Priority pass Lounge passes that you Used to get and added a $200 Hilton Credit $50 every quarter and they also Increased the annual fee to $150 for me I think I will actually keep this card The reason being I can use the $50 codly Credits to offset the annual fee if I Used all four that takes me $50 positive And I probably will use at least two or Three or maybe four of them since I go On a lot of ski trips in the winter and

We often stay at hotels that are like 150 bucks a night if I can get $50 off That's a great use of the credit um but It's also a great card to use for tax Payments since it earns a Hilton free Night if you spend more than $15,000 per Year on the card Hilton free nights are Really valuable since you can use them At any Hilton brand I often get $700 or More in value per night for them so this Card is definitely a keeper for one more Year the AMX Gold All right so up next Is the MX gold obviously yours won't Look like this but I use lion credit Card to take the chip out and make this Cool exclusive Dragon credit card now on This particular card I earned 37,000 Points at restaurants and9 19,000 points At supermarkets in 2023 the card earns Four points per dollar on both of those Categories so if you value AMX points at 1 cent per Point that's $560 back which Is more than double the annual fee if You value them at 2 cents per point it's Over $11,000 in value so this car the AMX gold is definitely a keeper for me In 2024 the AMX Platinum Charles Schwab Edition okay so next up we have the Charles Schwab MX Platinum I will be Keeping this card primarily because it Is the card I use for things like Priority pass lounge access Centurion Lounges marot gold status National Car

Rental status Etc I also earned a total Of 31,000 points on the card in 2023 not Counting referrals if I count referrals IED it's a lot more but that's a little Unfair since I have a YouTube channel I Refer people through the channel so Let's just go with 31,000 points that's Worth at least $341 since the points are worth 1.1 each As cash back in my Charles Schwab Account and if I use them for travel It's probably double that now I did also Receive $184 out of the $200 Airline Credit which I used for checked bags and Lounge guest passes of the Delta Sky Club on my recent trip to Hawaii in September I received the full $200 from The fine hotels and resorts collection Credit um which I used at again the Fairmont Orchid in Hawaii awesome hotel If you go to the big island of Hawaii I Got the full $240 Digital entertainment Credit for Sirius XM which which I would Have bought anyway I listen to it in the Car and the $100 Sach credit the other Credits like clear Etc don't really Provide value to me since I've never Found a time to actually complete my Clear application at the airport anyway So I won't include them but out of the Ones that I used it is $724 in value then if we add the $341 Minimum value of the points that's going To be

$1,065 in value minus the $695 annual Fee that is going to be $370 in positive value from the card Ignoring things that are hard to Quantify like lounge access national Executive status and hotel status so you Know the real value is a lot more but at A minimum dollar value $370 but I can't Say as much for our next card the Business Platinum now I mainly got the Business Platinum for the welcome bonus I received 150,000 points in a targeted Mailin offer but the card has proved Less use ful than the personal Platinum I got $94 from the Airline Credit in 2023 and $157 from the Dell credit so Far the points I earned through regular Spending were really kind of negligible I mean I did put $29,000 on the card but That was all at tax time in 2022 I Haven't really been using the card at All month to month and even that $29,000 that was just to get the bonus With no bonus in 2024 and also credits That don't offset the $6.95 annual fee For me me I wasn't able to use the Adobe Credit at all because it doesn't cover The version of Adobe Creative Suite I Used to edit my videos I didn't need the Indeed credit and my Google F cell phone Plan didn't trigger the wireless credit So I will be canceling this card in 2024 When the renewal date comes around it's Around late March early April all right

Let's move on to another MX card but First if you have a lot of credit cards That you struggle to keep track of Especially AMX cards and I'll tell you Why that is in a moment there's a Special reason for that but a great way To get data on all your cards in one Place is the app Max rewards the sponsor Of today's video max rewards pulls data From all your credit cards from Different banks in one place the free Version of the app gives you Transactions balances points and rewards Balances All in One dashboard and has Useful things like welcome bonus Spending trackers it also tells you Which card to use in which spending Category and at which store for the Maximum rate of rewards it also takes Into account whether Apple pay is an Option and what rotating quarterly categ Ories are available on any of your cards They've just come out with version three Of the app and it's a big upgrade There's a load of new features like easy Ways to track or your coupon book style AMX credits and warnings to use them Before the deadline then if you get Max Rewards gold the pro version you get the Function where Max rewards will activate All of your MX offers for you and you May even use an MX offer without Realizing it and come home to an email Saying you save money that's happened to

Me several times and when you activate All your your AMX offers new offers you Never even knew existed appear in your Account and guys you can get a free Month of Max rewards gold with my link Below or you can just download it Through my link and check out the free Features all right so our next card is The Marriott bonvoy AMX so this is what The old SPG card became after they Merged with Marriott you can't apply for This card but many people are still Grandfathered into it like me the annual Fee is $95 but the card offers a free Night every year at a value of 35,000 Points and you can add up to 15,000 Points for that I just use my marot fre Night from this card to stay at the Courtyard by Maria in Queens the night Before my flight to Hawaii and I added I Think it was 4,000 points to the Certificate to take it up to$ 39,000 Which is what the hotel was charging the Nightly rate for a week night is $165 so If you minus the annual fee $95 the card Gave me $71 in positive value thus even Though my spending on this card is Minimal I think I'll keep it it's always Good to have that free night and it's The card I would use for charges when I Stay at Marriot Hotels anyway which I do Do sometimes Hilton and marott are my Two biggest brands so I think I will Keep it all right let's move on Chase

Freedom times two so I have two of what We in the credit card game call the OG Freedom all right this is the one that You can't apply for anymore I think you Can get it through product change maybe And it is a Visa rather than a MasterCard so I could product change to The newer Freedom flex and I get a few Extra benefits but that is a MasterCard Right so if I did that my numbers would Change and that would mess with a load Of subscription ions that I've got the Card paying for so I prefer to keep them As visas I'll be using these two cards In quarter one of 2024 for all my Grocery spending since the Chase Freedom Will be earning five points per dollar On groceries in the quarter one rotating Categories grocery is one of the easiest Categories to max out for me so I will Be keeping both cards and if I spend $1,000 a month on grocery I will max out The $1,500 cap on both cards for the Quarter so that is $3,000 in total in That period get me to 15,000 chase Points all right let's move on to our Last Chase Card the British Airways Visa Signature now this card I got partly for The welcome bonus which is 75,000 points At the time but also for the discount on British Airways flights 10% so on a $4,000 business class ticket that's $400 That matches the old AARP deal that was $400 off a few years ago but then it

Went down to $200 more recently there's Also a $200 discount on ba taxes and Fees on business class flights when you Book award tickets to London so this Card was basically designed for people Like me living in the US but flying to The UK frequently however this year I Flew to London on JetBlue mint and I Really liked it and I flew back on United Polaris and I have to say I like Them both better I mean JetBlue was the Best the food was really good but United Was definitely up there it had a really Comfortable bed and it passed the Meditation test with flying colors I Meditated for about half an hour before I was rudely interrupted by the seat Belt sign so I may not be as loyal to British Airways in this coming year and Thus I might cancel this card still I'm Not totally decided about that but maybe Now on to one that I'm definitely going To cancel the Capital One Quicksilver This is a card I never use I only got it To improve my credit score back in the Early days and I've put off canceling it Because I thought canceling an old card Would hurt your credit but it really Isn't as big of a deal as many people Think especially when you have things Like mortgages car loans Etc all in good Standing on your credit report my credit Score doesn't easily Dent now that I Have many different types of credits and

Many accounts that are very old on there So I think I will cancel this one in the Coming year all right lastly let's look At a few business cards the Windom Rewards earner business so this is a Card and I have got this one with me um It gets you Windom Diamond status which You can then match to get Caesar's Diamond status which is a really high Status not not quite their highest but a Really high status in Caesar's hotels Now I got this card back when I was Really into going to Vegas and I'd like To go there again in 2024 I just didn't Get a chance last year um so I'm going To hold on to this card it only has a $95 annual fee but it gets you you know A really high status at Windam and Caesars so I think it is worth it it Also earns eight Winden points per Dollar on gas so I basically use it as My gas card I also have 75,000 Windom Points in my account just sitting there And so I might go on a trip this year And use that card you know use those Points to pay for the hotel and I'll use That card as my payment method for all My incidental charges all right next we Have the chase Inc preferred now this Card is important because this is the Keystone card in my Chase Trifecta look I just made up a new term all right the Keystone card sounds very dramatic Doesn't it that is the card that strings

It all together okay it's like the key The the main piece since this is the Card with all the Transfer Partners and The higher value for points when you Redeem them through the portal 1.25 Cents per point so I earn points on the Two Chase Freedom cards and I then Transfer them over to redeem them on the Chasing preferred it's also the highest Credit limit I have on any regular Credit card like not a charge card all Right it's $49,000 that's kind of a flex but I mean I'd have to pay it all back if I spent It so it's not really that useful but I Guess it is comforting to know that I Have a card in my wallet that could Literally cover any foreseeable expense At least temporarily and then I'd have To figure out what to do right on top of That it gives me 3x on all travel so I Used the Char Schwab MX Platinum for air Travel and then any other type of travel I put on The Chase Ink preferred and for That reason I'm keeping it all right Let's now look at our final card in my 2024 setup the chase Inc unlimited now This one is my everything else card in My Chase Trifecta since it earns 1.5 Points per dollar on everything although I mostly just use it for business Purchases and this card is currently Maxed out at $111,000 because I used a 0% APR intro offer to buy all the

Furniture for my new Airbnb cabin Business which is opening in January if You want to know more about that by the Way and when you can book particularly If you live in the New York tri-state Area right it's in the Catskills Mountain so that's pretty close to New York City uh you can follow mini waska Cabin on Instagram okay that's how it's Spelled go and check it out but um I got This card around tax time last year with A bonus of 90,000 points that's how I Paid for my United flight back from London and uh I got the bonus by using It to pay my my state and local taxes And I have until April on the 0% APR Offer so actually once my cabin opens I Have to pay this one off pretty fast Okay or I'm going to end up paying Interest I thought I was going to open The cabin this summer and pay it off at A rate of like $1,000 a month or so but With construction there's always delays So it's going to be a bit more tense but All around the Inc unlimited is a great Card with no annual fee so there's Really no harm in keeping it I just got A ped all off before April I'll probably Have to supplement it with you know Using my some of my savings to pay it Back but hey I've got a cash flowing Business started up so uh it's nothing Really to worry about and that is the Video for today guys there you have it

That's my 2024 credit card strategy Which cards I'm keeping and which I will Cancel in 2024 I'm going to be very much Focused on cash flow so I'm not going to Be investing in any growth stocks or Anything like that I think the economic Outlook is also a little bit uncertain Too I'm not going to say terrible I did Upload that video a few days ago talking About the 2024 depression but that was Just one person's point of view Analyzing that one point of view it Won't necessarily be like that but Anyway in general I'm going for cash Flow and paying down some of the debt I Have like the chase Inc unlimited I'll Also be looking at minimizing annual Fees by canceling the business Platinum Which saves almost $700 per year let me Know in the comments what you think of This strategy and what cards you are Canceling or keeping for the coming year Don't forget to get a free month of Max Rewards gold with my link below we'll See you in the next video bye-bye

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