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You’re in a relationship. Remember that when it comes time to paying your annual fee. You must, as I do, sit down and assess the fees you’re paying and if you’re truly worth the price year after year. To me, and most of the bloggers advising you, we view credit cards as memberships to a club. If that club doesn’t continue to provide the goods, we cancel our membership, and look elsewhere. This ideology lead my decision to make 3 phone calls this morning. 2 cancellations and 1 card conversion.
The two cards I canceled: Barclay Aviator and Barclay Aviator Business
Both cards enticed be with generous welcome offers, but after recent devaluations…it wasn’t worth the wallet real estate. Let’s dig in.
I’ve kept a Barclay Aviator in my wallet for a few years now. I happily paid the annual because the card offered benefits that created more value than what I was paying. Namely…10% back on all redeemed purchases, up to 100k a year, and access to reduced mileage awards with AA. You could also earn EQMs via spend, but I had pivoted away from AA as my carrier of choice, and so that specific benefit was moot. The latter benefit can be accessed via the Citi branded cards, which I’m now eligible to get a welcome offer on again, but the first benny was where the juice lived in my wallet. 10% back meant I was getting 10k points a year for $99. Absolutely no brainer.
Also…I recently got AA Gold status off of the Hyatt/AA partnership challenge, so the waived bag fee and priority boarding are redundant.
Barclay Aviator Business
I’m not really sure what I would continue to pay $95 to receive? The card offers an amazing welcome offer, but what’s keeping me around? I’d need to spend $25k on the card to get $3k EQD which I don’t need, nor do I need the free bag or priority boarding. If you’re a high spending business that falls short of EQD…you could argue it out, but for me, especially when I’m aligned with Alaska…not worth it.
Would I get them again?
Sure. If the benefits changed, earn structure was better, my elite status falls off, am eligible for welcome offers again. Sure, why not? But right now Chase, Amex, and Citi are killing the game. Citi, you say, let’s move on to my card conversion.
The credit card I converted. My Citi Thank You Preferred just became a Citi Double Cash.
If you missed the news…Citi Double Cash is no longer just a cash back card. It’s the Citi equivalent, in conversion ability, to Chase Freedom cards. Sure, you technically earn cash back, but there is a new function whereby you can convert $1 into 100 Thank you points if you maintain a premium Thank You card suddenly you can make use of that Citi Double Cash to earn 2x points. Here’s a look at the earning structure of the card.
- Earn 1% cash back when you make a purchase
- Earn 1% cash back when you pay that purchase off
This means you can earn 2% cash back on all purchases, which is effectively earning 2 Citi Thank You points on every single dollar you spend, without limit. That’s amazing.
I phoned in to inquire. I’ve held onto my Citi Thank You Preferred for several years now ( it was once a Citi Thank You Premier, downgrade to avoid the Citi clock.) It sat in my wallet and collected dust. I asked the rep if I could do it. She said yes. I asked could they be converted to Thank You points, she said no. I asked again and she said no. Instead of pushing, I said, you know what? I’m going to do it anyways. Thank You, no pun intended. Now my Citi Thank You Preferred is a Citi Double Cash.
I keep a lot of credit cards, but they all serve a purpose. I’m looking to add to my portfolio, but first I wanted to thin out the weak.
Monkey Miles has partnered with CardRatings for our coverage of credit card products. Monkey Miles and CardRatings may receive a commission from card issuers
Capital One lit the premium card market on fire when it dropped this card. It quickly was added to our wallet for the following reason!
♥ Earn 100k Bonus Points after $10k Spend in 6 months
♥$300 Annual Travel credit within Capital One Travel Portal
♥2x on every single purchase without limit
♥10x on hotels and car rentals purchased via Capital One Travel
♥5x on airfare purchased within Capital One Travel
♥Erase any travel purchase off your card at a penny a piece with Capital One Travel Eraser
- Access to the Capital One lounge network
- Priority Pass access ( including restaurants for you and two guests ) Authorized Users have access as well
♥ 10k Anniversary Miles every year you keep the card – worth $100 in Capital One Travel or transferred to partners
♥$395 Annual Fee
If you spend more than $400 a year on travel, you’ll quickly offset the annual fee with the $300 travel credit and 10k anniversary bonus. The rest is gravy. And you can add up to 4 Authorized Users fee free!