Hi there, it's Ernest from Trip Astute. Happy holidays! In this video, we're going
to review what credit cards are in my wallet at the end of 2017, and which ones
are out.
(light chiming music)
With the end of the year comes an opportunity to reevaluate which cards
are staying in my wallet, and which ones are leaving. So, here's a rundown of my
current credit cards. First, we'll cover the newcomers in my wallet this year.
Number 1: The Chase Ink Business Preferred: Since Trip Astute is now an
LLC, I wanted to make sure to separate my business and personal spending. I decided
to get the Ink Business Preferred, and I love it. The card not only came with an
80,000 point opening bonus, but it has bonus spending categories that
match up with our business spending, especially when it comes to advertising
and travel expenses. Also, I like that the Ink Preferred offers cell phone damage
coverage when we pay our mobile phone bill with the card. The card is
definitely a keeper in my wallet. Number 2: The Chase Southwest Rapid
Rewards Plus. I wasn't planning to get this card, but then Chase and Southwest
offered a promotion for California residents that allowed us to get a free
companion pass with just one purchase. I was pretty sure that I wasn't going to
qualify because of Chase's 5/24 rule, but after I did a quick search on Credit
Karma, I found that I only had four cards in
the past two years. So, I recently applied and I got it. And now I should be getting
a Southwest companion pass for 2018, which will be really helpful for some
of our upcoming trips. Now we're going to cover some of the cards that have become a
regular part of my everyday carry this year. Number 1: Chase Sapphire Reserve.
You all know how much I love Chase's Ultimate Rewards points, so this shouldn't
be a surprise. I still love my Sapphire Reserve, and it's probably the most
valuable card in my wallet since I tend to spend a lot on dining out and travel
expenses, especially with parking expenses here in L.A. This card works
really well for me. Also, the $300 annual
travel credit makes this card feel like it only has a $150 annual fee, which helps
me justify the annual cost. Number 2: American Express Blue Cash
Preferred. You might be wondering why I carry a cash back card when all I talk
about is points and miles. Well, the American Express Blue Cash Preferred
card gives me 6% cashback on groceries and 3% back on gas.
Even though I love points, it makes sense for me to earn cash back on those
categories of spend and put the money toward my travel budget. Number 3:
Chase Freedom. This card is a real workhorse in my wallet. I try to take
advantage of the 5% quarterly rotating bonus categories, which can earn
around 7,500 Ultimate Rewards points every quarter. With no annual fee, this card is
definitely staying in my wallet. Number 4: Chase Freedom Unlimited.
This card is my go-to card for any expense that's not covered by a bonus
category. It earns a flat rate of 1.5 points per dollar. It's a great "no nonsense"
card for expenses where I can't maximize a bonus category. Number 5: Discover It.
Like the Chase Freedom, the Discover It card offers a rotating quarterly bonus.
However, similar to my American Express Blue Cash Preferred card, it earns cash
back rather than points. But I can put that money toward my travel budget. So,
those are the cards I actually carry in my wallet. However, I do have a bunch of
other credit cards that I don't necessarily carry with me all the time,
but I do keep active because I get some kind of benefit or reward with them. So,
here's a list of the cards that I have as well. Number 1: Chase IHG Rewards
Club Select. I've covered this card in several videos. I basically keep it
because I get Platinum Elite status with IHG, and more importantly, a free
anniversary night certificate as part of my $49 annual fee. The free night
alone is worth so much more than the annual fee. The next card on my list is
the Chase Hyatt card. Like the IHG Rewards Club card, this card offers a
bump in loyalty status and provides a free night every year with an annual fee
of $75. There are a ton of awesome hotels in Hyatt's portfolio where you can use
your annual certificate. We just did a video on the Andaz Mayakoba in Mexico,
which is part of the Hyatt umbrella of brands. So there are plenty of luxurious
places where you can redeem your annual free night. Next is the Chase United
MileagePlus Explorer card. I've actually contemplated canceling
this card, but the reason I keep it is for the lounge passes, priority boarding,
and additional award availability. If you have this card, you'll actually see more
awards seat availability for flights. To me, these benefits are worth the $95 annual
fee. But since I have been flying United as much as past year, I'm still not sure
it's gonna make the cut in 2018. The Chase Ink Business Cash is another card
that I keep and use. I have another side business that I run, so I use the Ink
Business Cash for all those expenses. I also charge my internet and streaming
services on this card since it earns five points per dollar on purchases from
office supply stores, internet, cable, and phone services. It doesn't have an annual
fee, but it's a great card to have, especially since it earns Ultimate
Rewards points. And sadly, there are a few cards that I'm not planning to keep in
2018. They include the following: Number 1: Club Carlson Premier Rewards. While I
have a ton of Club Carlson points thanks to this card, I have to admit that I seem
to struggle with finding places to redeem the points. I know that Club
Carlson has some incredible resorts around the world, and their Radisson Blu
brand is popular and luxurious, but I honestly have not had a chance to redeem
the points. So even though I get 40,000 Club Carlson points every year with my
$75 annual fee, I'm not sure that it makes sense to keep this card. Number 2:
Citi Double Cash. This was my go-to cash back card for a long time, and I was
using it from my non-bonus category spend. However, the Chase Freedom
Unlimited has really taken over when it comes to my non-bonus spend, so I'll
likely either cancel this card or just keep it in the drawer. So that's my
wallet wrap-up for 2017. Let me know what you think in the comment section below.
Also, I would love to hear what cards are staying in your wallet in the new year.
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I hope you have a wonderful holiday season. Until next time, travel safe
and travel smart.