As we move into another year, many of us are taking an inventory of what we want to do better in different areas of our lives. And at TPG, credit cards are at the top of our list.
Whether you are looking for level up your points and miles or improve your credit scoreWe all have credit card habits that we want to adopt or eliminate this year.
Below, some of our TPG staff members share their 2023 credit card resolutions and why you might want to do them too.
Follow seller offers
TPG managing editor Melanie Lieberman intends to find a better system for keeping track of which cards have what offers. “I often blame myself for missing an offer because I don’t remember it being activated on a certain card,” she says.
Premium miles and points writer Katie Genter is also determined to keep an eye on credit card merchant offers, like Chasing Offers and Citi Merchant Offers, more careful. “My husband and I have various lists on which we record available offers that we can use, but we needed to find a better system,” she said. check these deals often (like once a week) instead of whenever I remember. There’s a lot of value to be found in the purchases we’re making — I recently got 10 back % of staying at Hyatt thanks to Chase Deals — so not maximizing these offers is essentially leaving money on the table.”
Finding and adding merchant offers to your card is an easy way to save money and earn extra points and miles on purchases. No matter what type of credit card you have, make sure you’re taking advantage of the merchant’s available offers this year.
Related: How merchant offers can save you hundreds every year
Maximize your spending portfolio
TPG editor Erica Silverstein wants to make sure she earns bonus points in all of her spending categories this year. She said, “My solution was to find a card that would give me extra points in face-to-face meetings supermarket and gas spend because I’m not maximizing these big expenses right now.”
As you think about your credit card plan for the year, consider which cards earn you rewards points and miles. highest spending category. You may find that you already have a card that offers bonuses to your main categories; if so, make sure you are intentional about which card to use for different purchases. However, if you find yourself with spending categories that you can’t maximize, you may want to focus on one more card to cover that income gap.
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Avoid tourist portals
Matt Moffitt, TPG’s senior editor of credit cards, wants to focus on kicking a habit. “My determination was not to want to earn extra points on airline tickets by booking tickets through travel portals, such as those offered by Chase or Capital One. By 2022, I had it,” he said. too many times frustrating having to change my booking; it’s a nightmare with portals and airlines through buck.I’d rather give up points to properly manage my bookings. me.”
There are many things to consider when making a decision about whether to use a travel portal or book your trip directly with a hotel or airline. There are certainly some benefits, such as earning more points and miles, but as Matt reminds us, there can also be some nasty downsides. Be sure to evaluate whether a streamlined booking process or maximized points earning is most important to you when buying travel.
Related: Using gateway vs direct booking
Cut off overlapping benefits
TPG senior aviation business reporter David Slotnick wanted to take a slightly more minimalist card approach. He said, “I have too many cards with benefits it’s redundant or I’m not maximizing. My solution was to check my cards, fees and benefits, and thin my wallet a bit.”
When we focus on cards with the highest welcome bonuses or flashiest perks, we can inadvertently collect many cards with similar benefits. We often think the annual fee for our favorite card is worth paying, but David’s personal audit plan is a wise one. If you find yourself with multiple cards with similar benefits, it can be helpful to merge by canceling or downgrading some cards.
Related: Should I cancel my credit card?
Deliberately being chased by Chase 5/24
TPG staff know that the card decisions we make when we find ourselves under Chase’s 5/24 Rule is very important.
Credit card writer Ryan Smith is carefully deciding what kind of Chase card he and his wife want to open next. “Because my wife and I have had so many business credit card applications and upgrade offers, rather than new applications, over the past year, we’re both now under 24,” he said. /5.”
“We wanted to be strategic about this because we didn’t plan to let it happen. My wife applied for it. Ink Business Unlimited Credit Card to take advantage of it unprecedented offers and Chase Sapphire Reserve during the bounty period at the end of last year. I’m reviewing my options with Unified credit card and also plan to subscribe to Ink Business Unlimited.”
TPG point and reporter Kyle Olsen finds himself in a similar situation and is planning accordingly. “In January, I’ll be back to Chase’s 5/24 rule,” he said. “Even though I don’t see much value in Chase’s product suite,” he said. Marriott co-branded card (especially given the uncertainty of the Marriott Bonvoy points), I’m considering opening Marriott Bonvoy Boundless Credit Card.”
“If the current grandfather rules for Ritz-Carlton Rewards Credit Card from Chase remaining, I will be able to switch from Boundless card to Ritz-Carlton card after one year of holding the Boundless card. Even though the annual fee on the Ritz-Carlton card is $450 (instead of $95 on the Boundless card), it’s still worth it. The Ritz-Carlton Card includes a variety of lucrative benefits such as three Ritz-Carlton club upgrades, a $300 airline ticket credit, an 85,000-point free night certificate, and generous insurance benefits. similar to the Ritz-Carlton card. Chase Sapphire Reserve.”
Information about the Ritz-Carlton Rewards Credit Card has been independently collected by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
If you’re not sure if you’re 24/5, start here. And if you are or will be under 5/24 this year, we recommend the next card from Chase while you have the option.
Related: Best ways to use your Chase 5/24 slot machine
Redeem the remaining points
TPG senior writer, Benjamin Smithson, wants to clean up his leftover points and miles balance. He says his solution is to “delete the entire balance. I keep coming across accounts with 5,000-10,000 points that I may never use because the amount is often too small to redeem. anything great.”
If you haven’t been looking lately, you might be surprised to see some of the small rewards balances you have on the cards you’ve stashed away in your sock drawer. The beginning of the new year is a great time to check all your rewards balances and redeem or plan to replenish them.
Related: What to do with small points and miles balance
bottom line
If you haven’t already, take a moment to think about your credit card habits from last year and set some goals for 2023.
Maybe you want to go back to the basics and review beginner’s guide or 10 commandments about credit card rewards. Or maybe you’re finally ready to get premium credit card.
Whatever your goals are, you can be confident knowing that TPG will be here to assist you in achieving them throughout the year.
