What's in My Wallet? July 2018 Edition

The cards in my wallet rotate each month depending on if I received a new card to meet minimum spend requirements, a retention offer, or trying to optimize for a 5% cash back category.

American Express Premier Rewards Gold (Now the Gold Card)

The annual fee for my American Express PRG card just hit, and I called American Express for a retention offer. 

I accepted a retention offer to receive 5,000 MR points to keep the account open, and receive another 15,000 MR points after $3,000 in spend within the next three months.

Amex PRG retention offer:

  • Now = receive 5,000 MR points

  • Spend = 15,000 MR points after $3,000 in spend within the next three months

Value of retention offer

The value of the retention offer varies depending on how you plan to redeem points. If you have the Amex Platinum Charles Schwab card, you can cash the MR points out at 1.25 cents per point (CPP). The ideal value is to transfer MR points to airline partners for travel to get 2 CPP in value. 

Minimum value (1.25 CPP via Schwab)

  • Now = 5,000 * 1.25 CPP = $62.50

  • Spend = 15,000 * 1.25 CPP = $187.50

Ideal value (2 CPP via transfer partners)

  • Now = 5,000 * 2 CPP = $100

  • Spend = 15,000 * 2 CPP = $300

My plan is to pay my rent through Plastiq with a credit card to fulfill the $3,000 retention offer. Learn more about Plastiq in this post

Hilton Honors American Express Ascend Card

The Hilton Honors American Express Ascend Card card gives you a free weekend night when you spend $15,000. I have a redemption in mind, so the card is usually my default card when I need to pay rent with a credit card.

  • Welcome bonus: 125,000 Hilton Honors points after you spend $3,000 within the first 3 months of account opening

  • Earn 12x on Hilton purchases

  • 6x at U.S. supermarkets

  • 6x at U.S. restaurants

  • 6x at U.S. gas stations

  • 3x on everything else

  • Earn Diamond status after spending $40,000 in a calendar year

  • Earn a free weekend night after spending $15,000 in a calendar year

  • Complimentary Hilton Gold status

  • No foreign transaction fees

  • Priority Pass: 10 free visits

  • Terms apply

Discover It

The Discover It 5% cash back category for Q3 2018 is restaurants. Since July is the start of Q3, the Discover It replaces my Chase Sapphire Reserve for all dining purchases. I'm also in my first year of having the card, so I'll earn 10% with first-year Cashback Match.

If you're not in the first year of your Discover It card, it might make sense to keep the Chase Sapphire Reserve in your wallet if you plan to redeem points with transfer partners.

Cash Card (by Square)

The Cash Card by Square is one of my favorite cards in my wallet because it gives me discounts at places I frequent often like coffee shops and Whole Foods.

Try Cash App using our code and we'll both get $5 when you send $5: https://www.asksebby.com/cashapp Promo code PNFWRFW

You can select which merchant you want a Cash Boost on, and save each time you use the boost. 

Editorial Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines or hotel chain, vendors or companies, and have not been reviewed, approved, or otherwise endorsed by any of these entities. 

UGC disclosure: These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.