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TPG Talks episode seven: Credit card strategy during COVID-19

Richard Kerr
Richard Kerr is a veteran naval officer and founder of the Award Travel 101 Facebook community. He’s one of the foremost experts in points and miles strategy, featured in Forbes, US News, Money Magazine, Kiplinger Personal Finance and presented at #SXSW 2017. Richard has visited over 45 countries, lived in England and Japan, and spends his spare time dissecting loyalty program award charts to maximize the value of points and miles. Richard holds a BBA in International Business and has his wife and two small children in tow for his travels as often as possible.

May 30, 2020 • 3 min read

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With travel at a slow down and plenty of credit card benefits going unused, now is the time to audit your credit card portfolio and reassess what should be in your wallet. On this week's TPG Talks webinar, we were joined by Credit Cards Editor Benét Wilson and Points & Miles Editor Ariana Arghandewal.

Benet and Arianna shared a recap of all the changes to credit card bonus categories, including what you should consider before closing or opening cards as well as specific card recommendations — to perhaps put in the sock drawer or add to your wallet. We concluded by looking into the future of the card industry. If you've been wondering how all of the changes to card benefits and perks should affect your wallet, make sure you watch the replay of this week's talk:

Show Notes

6:25 - Recap of Recent Credit Card Changes and Relief including New Bonus Categories and Waived Annual Fees
12:50 - Things to Think About Before Changing Cards
15:15 - What Happens if You Get a Refund to a Canceled Card
16:51 - Considerations for Getting a New Card
22:58 - Card Recommendations
27:09 - Cards to Use to Book Future Travel
28:40 - Great Sign Up Bonuses Right Now
31:15 - Cards for Beginners
35:01 - The Future of the Credit Card Industry
38:01 - Panelists Personal Comfort on Traveling Now
40:50 - Clarifications on Downgrading and Upgrading Cards
42:36 - Chase Sapphire Preferred (CSP) vs. Chase Sapphire Reserve (CSR)
45:42 - Trip Protection Coverages
48:19 - How to Manage Multiple Cards
50:37 - Timing Credit Card Applications
51:57 - Maximizing Authorized Users
53:56 - Understanding Your Credit Score
54:20 - Closing Thoughts

Follow on reading and important links

Bottom Line

TPG Talks is a series of live webinars hosted by team members from The Points Guy, covering various aspects of the travel, credit card and loyalty industries. Join from anywhere in the world on any device to learn tips and tricks that’ll get you closer to your next dream vacation.

For a list of previous sessions, visit our TPG Talks hub page, or click on any of the links below for individual recaps:

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Rewards rate
Rate	Category
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4X	Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
5X	Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App™.
3X	Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App™, or purchased directly from airlines.
2X	Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App™ and cruises booked and paid through AmexTravel.com.
1X	Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.

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Annual fee

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Regular APR

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Pros + cons

Pros

Valuable dining and food-related credits
Flexible rewards with airline and hotel transfer partners
Multiple travel and purchase protections
No foreign transaction fees
Access to Amex Offers for additional savings (enrollment required)

Cons

Not as useful for those living outside the U.S.
Some may have trouble using Uber and other dining credits

More details

You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App™.
Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App™, or purchased directly from airlines.
Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App™ and cruises booked and paid through AmexTravel.com.
Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
$120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
$100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
$84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
$120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
Enjoy complimentary Hertz Five Star® Status benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
Book two nights or more with The Hotel Collection through AmexTravel.com or the Amex Travel App™ and receive a $100* credit towards eligible charges at over 1,400 upscale hotels worldwide. *Eligible charges vary by property.
Book your travel through the Amex Travel App™ with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
No Foreign Transaction Fees.
Annual Fee is $325.
Terms Apply.

Pros

Valuable dining and food-related credits
Flexible rewards with airline and hotel transfer partners
Multiple travel and purchase protections
No foreign transaction fees
Access to Amex Offers for additional savings (enrollment required)

Cons

Not as useful for those living outside the U.S.
Some may have trouble using Uber and other dining credits

You may be eligible for as high as 100,000 Membership Rewards® Points after you spend $8,000 in eligible purchases on your new Card in your first 6 months of Card Membership. Welcome offers vary and you may not be eligible for an offer. Apply to know if you’re approved and find out your exact welcome offer amount – all with no credit score impact. If you’re approved and choose to accept the Card, your score may be impacted.
Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
Earn 5X Membership Rewards® points on prepaid hotel stays booked through AmexTravel.com or the Amex Travel App™.
Earn 3X Membership Rewards® points on flights booked through AmexTravel.com, the Amex Travel App™, or purchased directly from airlines.
Earn 2X Membership Rewards® points on prepaid car rentals booked through AmexTravel.com or the Amex Travel App™ and cruises booked and paid through AmexTravel.com.
Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
Pay It® lets you tap in the American Express® App to quickly pay for small purchase amounts throughout the month and still earn rewards the way you usually do. Plan It® gives you the option to split up big purchases into equal monthly payments with a fixed fee. You’ll know upfront exactly how much you’ll pay.
$120 Dining Credit: Earn up to a total of $10 in statement credits monthly when you pay with the Gold Card at Grubhub (including Seamless), Buffalo Wild Wings, Five Guys, The Cheesecake Factory, and Wonder. This can be an annual savings of up to $120. Enrollment required.
$100 Resy Credit: Get up to $100 in statement credits each calendar year at over 10,000 qualifying U.S. Resy restaurants after you pay for eligible purchases with the American Express® Gold Card. That’s up to $50 in statement credits semi-annually. Enrollment required.
$84 Dunkin' Credit: Earn up to $7 in monthly statement credits after you pay with the American Express® Gold Card at U.S. Dunkin’ locations. Enrollment required.
$120 Uber Cash on Gold: Enjoy up to $120 in Uber Cash annually with your Gold Card. Just add your Card to your Uber account and you'll get $10 in Uber Cash each month to use on orders and rides in the U.S. when you select an Amex Card for your transaction.
Enjoy complimentary Hertz Five Star® Status benefits like skipping the counter at select locations, adding an additional driver at no additional cost*, and vehicle upgrades**. Benefit enrollment and Hertz Gold+ registration are required. *Additional drivers must meet standard rental qualifications and must be a spouse or domestic partner to qualify as complimentary. Other additional drivers subject to fees. **Benefits are subject to availability and vary by location. Additional Hertz program Terms and Conditions including age restrictions apply.
Book two nights or more with The Hotel Collection through AmexTravel.com or the Amex Travel App™ and receive a $100* credit towards eligible charges at over 1,400 upscale hotels worldwide. *Eligible charges vary by property.
Book your travel through the Amex Travel App™ with added peace of mind – backed by American Express® service and support. Only for American Express® Card Members.
Whenever you need us, we're here. Our Member Services team will ensure you are taken care of. From lost Card replacement to statement questions, we are available to help 24/7.
No Foreign Transaction Fees.
Annual Fee is $325.
Terms Apply.

Show Notes

6:25 - Recap of Recent Credit Card Changes and Relief including New Bonus Categories and Waived Annual Fees
12:50 - Things to Think About Before Changing Cards
15:15 - What Happens if You Get a Refund to a Canceled Card
16:51 - Considerations for Getting a New Card
22:58 - Card Recommendations
27:09 - Cards to Use to Book Future Travel
28:40 - Great Sign Up Bonuses Right Now
31:15 - Cards for Beginners
35:01 - The Future of the Credit Card Industry
38:01 - Panelists Personal Comfort on Traveling Now
40:50 - Clarifications on Downgrading and Upgrading Cards
42:36 - Chase Sapphire Preferred (CSP) vs. Chase Sapphire Reserve (CSR)
45:42 - Trip Protection Coverages
48:19 - How to Manage Multiple Cards
50:37 - Timing Credit Card Applications
51:57 - Maximizing Authorized Users
53:56 - Understanding Your Credit Score
54:20 - Closing Thoughts

Follow on reading and important links

Bottom Line

For a list of previous sessions, visit our TPG Talks hub page, or click on any of the links below for individual recaps:

Comments

By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.

Show Notes

Follow on reading and important links

Bottom Line

Comments

Comments

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TPG featured card

TPG featured card

American Express® Gold Card

Rewards rate

Intro offer

Annual fee

Regular APR

Recommended credit

Pros + cons

Pros

Cons

More details

Pros

Cons

Show Notes

Follow on reading and important links

Bottom Line

Comments

TPG featured card

American Express® Gold Card

Rewards rate

Intro offer

Annual fee

Regular APR

Recommended credit

Pros + cons

Pros

Cons

More details

Pros

Cons

American Express® Gold Card

Rewards rate

Intro offer

Annual fee

Regular APR

Recommended credit

Pros + cons

Pros

Cons

More details

Pros

Cons

American Express® Gold Card

Rewards rate

Intro offer

Annual fee

Regular APR

Recommended credit

Pros + cons

Pros

Cons

More details

Pros

Cons

American Express® Gold Card

Rewards rate

Intro offer

Annual fee

Regular APR

Recommended credit

Pros + cons

Pros

Cons

More details

Pros

Cons

American Express® Gold Card

Rewards rate

Intro offer