The BEST Strategy for ALL of Your Credit Cards

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When it comes down to it, your overall credit card portfolio can be divided into 3 specific groups, each with their own specific function.

In this video, I'll explain each of these groups in detail and how they can help better organize your overall credit card portfolio, cut down on wasteful spending on annual fees, and maximize your rewards earnings potential.

This activity can be done whether you’re just starting out on your credit card journey or even if you’re further along and have quite a few credit cards.

I used to look at my credit card portfolio as a single collection, but if I divide it into these 3 groups, it helps to better organize all of my credit cards.

The first group is your core credit card setup, which consists of the cards used for everyday spending. These are your popular trifecta or duo setups such as the American Express Trifecta, consisting of the Amex Platinum, Amex Gold, and Amex Blue Business Plus; the Chase Trifecta, consisting of the Chase Sapphire Preferred, Chase Freedom Flex, and Chase Freedom Unlimited; the Citi Trifecta, consisting of the Citi Premier, Citi Custom Cash, and Citi Double Cash, and the Capital One Duo; consisting of the Capital One Venture X and Capital One Savor One cards.

The next group is your secondary credit card setup. The main use of these cards are the benefits that you get with them, but one downside is that these cards often have very high annual fees. Some examples of these types of cards are the Amex Platinum, Amex Hilton Honors Aspire, Chase Ritz Carlton card, and the Chase World of Hyatt card.

The third group in our portfolio is our Bench credit cards. These are your no annual fee credit cards that you either no longer use, are out of your core rotation because they’re rotating category cards, or cards that used to have annual fees, but they’ve been downgraded to those no annual fee options. Other credit cards that would fit into this group would be cards you got for just for the sign-up bonus.

So those 3 goups are how to best structure and strategy for your overall credit card portfolio!

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Chapters:
00:00 Intro
01:31 First Group
06:20 Second Group
09:33 Third Group
11:58 Outro

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Note: This description contains affiliate links, meaning that I may earn a commission if you click through these links and successfully apply, sign up, or buy the product or service mentioned.
 
Disclaimer: I am not a financial advisor, accountant, or lawyer, and as such, I do not provide financial, tax, or legal advice.  This video, and any ideas presented in it, are opinions and are provided for entertainment purposes only.  Please do your own research and consult your own financial, tax, or legal professional for specific advice.
 
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