I seem a bit slow on the strategy. I currently get 5% on my prime card for Amazon purchases which is where 75% biz spend comes from for me. Do I pay off the prime card with gift cards from Chase Business Ink ? Is that the play?
I would use a Citi Premier card to buy Amazon gift cards at a gas station or supermarket for 3X. Then I would buy the "office supply" gift cards to get an additional 5% back with a Chase Ink cash, and then use these cards to pay off the citi balance
The chase ink cash’s are no annual fee, so no reason to ever cancel them. Most of the other cards I use I can either downgrade to a no annual fee version or it’s worth keeping if I can easily make up the annual fee with rewards
Is there a point where you start to cancel some of the older cards? Like I assume you wouldn't keep applying for the same cards until you had 50+ of them or whatever right?
The chase ink cash’s are no annual fee, so no reason to ever cancel them. Most of the other cards I use I can either downgrade to a no annual fee version or it’s worth keeping if I can easily make up the annual fee with rewards
Bum is a G
Thanks @jarrylew! Happy to answer any questions here.
I seem a bit slow on the strategy. I currently get 5% on my prime card for Amazon purchases which is where 75% biz spend comes from for me. Do I pay off the prime card with gift cards from Chase Business Ink ? Is that the play?
5% is pretty good.
I would use a Citi Premier card to buy Amazon gift cards at a gas station or supermarket for 3X. Then I would buy the "office supply" gift cards to get an additional 5% back with a Chase Ink cash, and then use these cards to pay off the citi balance
8% total
The chase ink cash’s are no annual fee, so no reason to ever cancel them. Most of the other cards I use I can either downgrade to a no annual fee version or it’s worth keeping if I can easily make up the annual fee with rewards
Is there a point where you start to cancel some of the older cards? Like I assume you wouldn't keep applying for the same cards until you had 50+ of them or whatever right?
I'll ping Bum for you.
The chase ink cash’s are no annual fee, so no reason to ever cancel them. Most of the other cards I use I can either downgrade to a no annual fee version or it’s worth keeping if I can easily make up the annual fee with rewards