Upsetting Amex, Citi Triple Cash, & $8,600 in Annual Fees - Q&A!

Added: 2026-05-31

[00:00:02]Hey internet, it's R.J. Welcome back.

[00:00:04]Thank you for tuning in to the show today. Now, today before we wrap up the month of May, we must, as always, do our Q&A. You know the deal. Riddle logo pops up. You drop your questions down below and we just answer them the order they came in. Uh we have quite the grab today. We're talking about what if the city double cash moved up to the triple cash. Uh we're talking about turnurning banks. We're talking about if there were inflation and how that could affect rewards points, all that more. So, of course, we go long here. Chapters, tools down below, so you can bounce around as your heart desires. All without further ado, go ahead, press the subscribe button, and let's get to work. So, we bat lead off. You know him well. He's famous or infamous around here, Mr. Grabbag himself with quite a few questions after he said last time he didn't have that many questions. So, I guess we're going to have to work as I'm taping this on a holiday weekend. So, why not? So, he bats lead off with city triple cash. What if like the double cash but triple every that's exactly how the corporate meeting would go.

[00:01:00]Everything would stay the same on the city card but earn triple rather than double. How would that compete with all other cards at this point in time? Would you get it? How would this make city I mean when you write it like that like yeah it would be totally fine. It wouldn't Yes. If they move from two to three on a free product with no deposit requirements or anything like that yes I would get it. Yes it would blow everyone else out of the water. The only other close competitor is Robin Hood Gold and they won't let anybody in right now. You don't know how to get in and plus they still require the Robin Hood Gold membership. This will obviously never happen. There's no need for it to happen. We just saw US Bank try and fail miserably. SoFi couldn't manage 2.2 for a long time. Bank of America's changed.

[00:01:42]So no, I mean I don't I already think City is like top two. I think City and Wells Fargo are up there over everybody else right now for core card products.

[00:01:50]So yeah, I don't have much else to add.

[00:01:52]Yes, if they made a triple cash card, that would be amazing. Everyone should get it. I don't think it would ever happen. I'm positive it would never happen, but yes, it would be fantastic and they would destroy everyone else ecosystem and it would not be close, especially considering the custom caches and the city strata premiere is pretty good as well. Uh, yeah, it would it would be game over. All right, next. Got approved for Wells Fargo autograph on May 5th. Well, congratulations. have been thinking you should get the Strata Premiere. Speak of the devil. Um, over this, I already have three custom cash cards and double cash, but couldn't justify the Strata Premier annual fee.

[00:02:27]So, I chose the autograph regular one.

[00:02:30]As you always said, it's close to the premiere. I think it is close. Very similar to the Visa Signature versus Wally.

[00:02:37]So, I think you're just giving me an update or something. But uh yes, I think if you're going to keep the card longterm, I think the autograph for free is pretty similar to the Strata, especially considering you have so many custom cash cards now. Whatever you're missing on the Strata, you could just make up with a custom cash and you got the autograph for free. The only real problem comes into uh if you wanted travel points, if you're like American, then by all means go city. If you're more doing the cashback thing, which you probably are from these type of cards, then it doesn't matter because cash is a universal currency.

[00:03:09]I have the autograph myself, so I like it. If I wanted the active cash, that's Wells Fargo's 2% card. How long should I wait to apply for it after I already have been approved for an autograph?

[00:03:20]Anyone in that case who wanted the autograph? Uh, last time I checked, Wells Fargo is every You can only have an intro offer every 6 months. I've seen folks report that they get them they they've gotten through sooner than six months, but I don't think it's folks who have as many cards as we normally do and taken many shots as that. So, I would say you're definitely on the bench for six months minimum before you go out to Wells Fargo. Wells Fargo is also very sensitive these days. So, I mean, if you really really want that card next for whatever reason, then you're probably going to have to take some time off um get some distance between your approvals. I think they are 524 bank as well. I don't know 100% for sure. I don't think anyone knows 100% for sure.

[00:03:59]But, uh, all that to say, minimum 6 months because of their rules. And then it could be longer just depending on how how banged up your report is from new accounts and inquiries. Um, it wouldn't, you know, it it took me quite a while to be able to get approved for the autograph journey. And even then, all they did was reallocate credit limit to the autograph to the journey. Um, I think I had to get under 524 and let some inquiries fall off to be sure. Um, are autograph and autograph journey the same weight? I don't have a scale. I have both of them. Again, as I said, they feel very similar to me. Um, if you really want to know, I mean, if we can do it live on air, I guess.

[00:04:41]Yeah. I mean, they Well, let's turn them around. Um, they feel the exact same weight. They look the exact same thinness, so I'm going to say yes, they're Yeah, maybe. No, I think they're the same. The Journey maybe feels a little bit heavier, but not by much. I think it's just in my head. Um, I would say they are the same. Same type of material, same metal like consistency, if you will. Not much different. It's not like the platinum car where it's like a sizable piece of metal or anything like that. Um, all right. I've heard some people keep the freedom unlimited because the high transfer that's probably the reason why to sapphire or even preferred even though it earns 1.5.

[00:05:22]Um, basically the question is why? Yes, I think you're right. I mean that's the the main thing in this community propping face up is folks love of Hyatt and obviously if you want United or Southwest but mainly Hyatt's the one um cuz high points been hard to get I I guess I don't really know what the love of Hyatt is. is I think I've stated a few of them and when I did I remember this was a few years ago but it felt nicer for the redemption in category level than I would have gotten at that type of Marriott or Hilton. Now, this was so long ago. I don't remember what category or how much I paid for it, but it felt like their category. There was a lower category, but it felt better than, you know, maybe a two or three level above Marriott to me. But people generally do love Hyatt. I think Hyatt has done a good job, depending on where you land. Hi done a decent job of protecting their status. They don't sell it even though people want them to. So, getting it and having that top status probably gets you more. or you run into maybe less issues because you're not just selling diamond or selling titanium or or platinum or whatever it is. That would be it. American Airlines is probably well for again American it was just again they were kind of protecting their points. They had credit cards but you know you you're still limited to how many points you can earn. So once city has American it really opens up how you easily you can earn American points.

[00:06:50]Now, I would have going to assume that eventually at some point American will adjust their points uh program to protect against the mass influx of American points they're going to see. Um but I think they were American the big thing there was they were just the last major chain to yes have a credit card partner and a royal loyalty program but not fully in it. I mean, you can't walk down the Delta terminal without someone trying to sell you a Delta card, uh, you know, which is a little bit similar, but of course, obviously, you can get other American Express cards and transfer over to Delta as well as where American Airlines is. Yeah, you could get their card, but you know, how many it's still going to be pretty tough to earn a significant amount of American points on spend. Now, you got all these intro offers. So, even the Strod Elite isn't a good card, but that you could look at it as 80,000 American points if you wanted to, which I don't know the valuation, but that's I think that's part of it.

[00:07:43]Um, continuing on here, it seems like the Quicksilver on the Discover network will be earning the bonus categories versus the Visa Mastercard Quicksilver.

[00:07:50]I have no idea. I didn't I haven't heard that. I saw that Discover had a new intro offer for their cashback credit cards, like a $200 intro offer plus like a full cashback match in the first year.

[00:08:03]Uh, but I didn't know they were going to plan that. That would be that'd be interesting to split them. Um, so yeah, I haven't heard that. Uh, opinion on the PNC cash unlimited card. It's one of the few credit cards I think of 2% cash back and no annual fee and no foreign transaction fees. I mean, I don't have a strong opinion about it. It's a 2% card.

[00:08:22]If you need I don't know off the top of my head how many 40 no foreign transaction fee 2% cards there are. Um if that suits your needs and so be it.

[00:08:29]You're going to have to deal with PNC.

[00:08:30]The problem with that one is I I don't even think you can apply for a PNC card not being a customer. You'd have to become a customer in a deposit account and then you can apply for it. Means it's probably not worth the hassle unless you really need that. I think you said the fidelity rewards visa signature is also probably easier to get um less annoying to deal with. So, I'd probably lean that one. I don't have a problem.

[00:08:52]I've never had the PNC. I never looked too much into it because there's no intro offer for it. So, it's never really hit the radar. Plus, again, it's annoying to get. So, you'd have to time out your churn at PNC with that application. They are super picky as well. So, be burning a slot in an inquiry for no uh no annual no um intro offer. So, for that, I would just lean if you absolutely positively needed one, probably just Fidelity. I would I would say because at least there's a $150 in true offer right now. I want to say how would you rate my wallet setup? I mean Discover card with 5% rotating categories Chase Freedom Flex Saver and Quicksilver both world elites. Um three city custom cash cards city double cash.

[00:09:35]Kroger if you've got the double cash I don't know that you need to waste an inquiry on the active cash. Kroger world elite that's a good one. All cash back no annual fee and five card setup. I think you have most things covered here.

[00:09:48]Um, you know, you got a lot of optionality with the custom cash cards.

[00:09:53]Uh, I like that the uh the Kroger card is another 5% that could basically be your primary catchall from 5% mobile wallets is good. You've got your 2%. I would say your next move instead of going to get the active cash like I don't the active cache doesn't do anything for you unless you really just want to get rid of your double cache and move it into a fourth custom cache. But at some point we'll run into like what are you going to do with all these custom caches. The point being I would maybe consider something like the AAA daily advantage. Uh you could do something like that to get your 5% groceries. So I think the thing I would do is look at these freedom cards and discover cards and see what you're doing with those. What categories are you hoping for and then try to solidify those by getting a card that's dedicated to that. So like the AAA card comes to like that would be in my mind a better pickup than going after an active cash, right? and free up, you know, something like that or the travel advantage and free up a custom cash from gas perhaps.

[00:10:47]But I think your next step up is either chasing large intro offers with the active cash isn't or going through and seeing how you can solidify your setup a little bit more goldplated, get away from relying on rotating category cards, which are nice, but you know, it's it's hit or miss what they get. So that would be my but overall I think this is a very fine start of really solid collection here especially with all those city cards considering that city is getting tougher sometimes.

[00:11:14]Should I keep my quicks now that I have 2% card or should I possibly wait until my quicksilver card becomes on Discover network? Um I mean I don't know these three oh the 3% bonus categories. I mean it I wouldn't I wouldn't worry about like canceling it or anything. I I wouldn't worry about that. I don't know if it's going to be super useful to you.

[00:11:30]You've got the 2% card which is fine.

[00:11:33]I I would imagine your custom cash cards probably cover off both of those because it was going to be like gas and dining or something was going to be on the uh Quicksilver card. So, you're probably covered off, I would say. So, you probably won't find a use for the Quicksilver. Um, if you don't do anything with groceries, I I they're kind of weird with product changes. You might flip it to a saver, I guess, but uh I don't think you're going to have a use for it. So, if you wanted to kill it, you definitely could.

[00:12:00]Um, what do you say is it about three years old as well if this plays effect?

[00:12:05]Uh, I mean, I think you've got enough cards and the history stays on your credit report for like seven years. So, closing it wouldn't be the worst thing in the world. Also, it's a free product and you're probably done at Capital One anyway. So, I don't think it hurts to just leave it. I would probably just leave it, but I think it's fine if you want to get rid of it because I don't think it's going to be super helpful.

[00:12:22]Um, what's your opinion on the Chase Amazon Prime Visa card? I do have that card. I like it a lot. lot. It's one of my favorites, one of my favorite Chase card. The weird thing is I don't use it that much since uh we do so many Amazon reloads on the second channel to satisfy gift card spend. I use a lot of those refer live uh gift cards they send you.

[00:12:42]I just load into my Amazon account. So, as a result, I don't use it as much as I thought I was going to, but I do like the card. I have Prime. So, if you're a big Amazon person, you don't find yourself ending up with a lot of Amazon reloads, I would recommend that card to most anyone. It says happy 5:24, which is technically tomorrow. I'm taping this on the 23rd. So either way, yes, happy 524. It's a weird thing to celebrate.

[00:13:04]Um, but we'll say happy 524. So there you go. Grab bag. You got the first 13 minutes of the show all to yourself. I hope that's enough to get you through the weekend as always. Thank you, sir.

[00:13:15]All right, 50 grand here. Another long one, but I think it's just one long one.

[00:13:19]So, trying to find out how to determine if I cancel one of my MX credit cards in order to get approved for the MX Business Blue Business Plus. If canceling a credit card will negatively impact my credit score. So, he gives us his vitals. FICO 800, total of nine MX cards, three charge cards. One is a business green, six MX credit cards. So, yeah, I think you're I can see why cuz you're over like isn't that the limit like four or five credit cards with MX?

[00:13:44]So, you're kind of over the limit. So, MX. So, anyways, the man told me I have to cancel one of my credit cards and I'll be approved. Uh, I just hit the wrong button. Um, you'll be approved for it card. I was thinking closing with Ammex every day with no fee credit card that only has a 7900 limit out of. So, that's fine. So, overall, there's a few things here. So, first of all, I would be I would not I'm surprised that they said they will approve you because they're not allowed to say that. Um the you know it's annoying right but there are rules you can't it's basically like steering I think is you can't deter anyone from applying from a product and you can't like overly sell them on it either right if you ever talk to a banker they kind of just tell you what the card does and say you have this offer would you like to apply for it right but they really don't tell you you'll get approved it's very annoying even when you know you're very unlikely to get approved but so I I can't imagine a guaranteed approval there which is somewhat concerning because we know how sensitive MX So, if you just close the card and you turn right around a month later and apply one, apply for a new one, that's something that could upset them or they could do pop-up jail or whatever. So, I wouldn't take that as a guarantee. Wouldn't change course for it, but at the same time, you know how they are. Number two thing here is I you'd be totally fine. So, the the thing about the 800 is it's kind of irrelevant. After a certain point in the sevens, I don't know where exactly, but you get past like 750, it stops mattering. you're getting the best pricing we have. And especially if you're talking about a mortgage, so many other things go into your pricing. When I say pricing, I mean the finance, like the interest rate, right? Like what type of property are you buying? Uh condos are seen as more risk riskier than single family residents. Why? Because you've got people on both sides of you that we don't know. So even if you're fine, but the other person, I don't know, leaves the stove on, like you're pretty much hit. So it's that that risk has to be priced into it. how much money down you put is seen in is seen as more or less risky. All that to say, there's so many different pricing factors that go into it beyond just having an 800.

[00:15:50]The other thing about an 800 is that it's like a tool in my opinion. So, you get a tool, you get a hammer, it looks all new and pristine, but a new and pristine hammer is no good. You want to use the hammer. Using the hammer for its purposes is going to have some dents and bangs on the tool, right? Or if not, if it's just useless. And also the 800, you know, where you're going to apply for a new credit card and that might be an inquiry as well, which will be a momentary ding as well. So, all that to say, at an 800, you've got tons of credit history, tons of good approvals and everything. So, you're good there. I wouldn't worry about it going down. As far as the history, if you close the card, personal card, again, it will show closed, but the history I believe stays on report for like seven years. So, if for whatever reason you relying on the history, will also be there. Um, all those on-time payments and everything.

[00:16:36]the business green you talked about.

[00:16:37]Well, it's a business card. It doesn't really report to a personal credit. So, again, no no big deal there. So, I think from a credit perspective, I'd say you're perfectly fine. I close cards on occasion. I closed the Well, the Rocket Mortgage card got closed for me. I didn't do anything, but it didn't hurt anything. I'm trying to remember to call and close my Venmo credit card. I just don't need it anymore. And it would bring my limit down, my total credit limit down. So, the only real thing that would really matter instantly is your utilization. But again, you got 400 grand in credit limit right now. And uh I doubt you're carrying a really big balance. So, you should be fine there.

[00:17:15]My bigger concern I would say credit, no, no concern. Bigger concern is would American Express actually turn around and approve you for it? Um, but if you're not using the card anyways, cancel it, give it a shot, and if they don't or they pop up jail, you just try again in a little bit, you know. But I I'd say you're totally fine. That's my view on it. Anyways, um, Red Sox Nation, ARJ, with a highly generous welfare system in America that incentivizes people to not work, when are we going to end the war on work in America?

[00:17:47]Um, I don't know that we are. Isn't Well, it's really isn't the war going the opposite way and the fact that we've got folks demanding quotable wages for people who work at McDonald's and things of that nature. So, you know, I I think we're actually going the other way.

[00:18:02]Like, we want people to work, but we're trying to jack up the salary, which is funny because it ends up costing us. And now, you know, that's why McDonald's and things like that are more expensive and they give you less and this, that, and the other. I don't think we're going to get rid of the war on work because it's it's just really hard to change anything considering it's a popularity contest. I mean, this is why your boys had to do the everything through executive order.

[00:18:24]Just shove it through, ram it on through because that's that's how it goes. So, I don't think we're I think very rarely you're going to see anyone try to drastically change anything because it's a popularity contest and you know it's you you know you have to do some stuff for your side but you don't want to totally upset the other side because you still need some of their votes as well.

[00:18:44]Um so I don't know that we're going to go do anything uh of the sort to make people I also think that the people don't want to work thing is a little bit overblown. is more so people don't want to do what it takes to live the way they want, not that they don't want to go to work and they just kind of think, well, I'm doing a job and this job should come with this salary regardless of what the job is. That's probably the stuff I think we should go after. We should go after the whining. Like, stop whining.

[00:19:09]The job is the job. You agreed to do the job for the price. Just do it. That that's the part I think we that annoys me more. But as far as from the government perspective, getting rid of those incent incentives and everything, I think it would just be way too polarizing for whatever reason. Then they changed what you could redeem like food stamps for and that that upset people. So, but which it didn't even seem unreasonable, but you know, I'm not totally dialed into it. So, I don't know. We'll wait for you to run our office and get us sorted out.

[00:19:39]Back on topic here, KC says, "You wake up and are married. She's not interested in credit cards or bank account bonuses, but is totally cool letting you open anything under her name. How would you incorporate player two into your game?"

[00:19:51]I mean, if this fate befell me, I woke up one day and there was just someone else in bed. Just a horrible a horrible fate. Can you imagine having to share a bed? It'd be terrible. But if it happened, I have a friend who does this and his wife has no interest in it. And so the easy part is signing them up for it. You run into issues when like how reasonable are they going to be? Because eventually you're going to have to talk to the bank at some point and they have zero idea what's going on and they want zero involvement in it. like that's going to be a problem. So he he's told me he has a problem when the bank calls or you have to call the bank like your account gets locked and you have to go and branch or you know you want to close the account you have to do it over the phone things of that nature end up being really tough but the opening process not that bad. Um also phone numbers are an issue right you want to use her phone number but they want to have it match the name so you can't just use a random phone number like if you had a second phone or something and the the two factor codes. Uh the other more interesting part would be like I'm a believer that you keep money separate.

[00:20:51]Yeah, you're not you you'd have to be so ridiculously hot to uh get on a bank account with me and even then I'll just again I'll settle for a four. I'm not doing it. Um so like if I'm going to do all this work and I'm a proponent of keeping finances separate, well then why am I doing all this work to benefit you if I don't get any of it? So maybe the split, maybe the offer would be I will sign up for these and you can keep the money, but I get all the referral money because I'm the one who's famous and on TV. So I can take your referral link for I don't know, Chime. I can get you the $100 for Chime, you keep that, but I'm going to take the referral offer and use it. Or maybe we split it. If my first counter would be I get all of it and then I'll counter with we can split it.

[00:21:30]But again, I want to I keep things separate. So, like why would I want to I I say that as if this has ever been a topic of conversation like a serious topic conversation for me. But that would be my big thing. But like incorporating them, you know, yeah, just you know, make sure that you're referring them or you're using their referral things of that. That's just I don't know how you get around the times you have to talk to the bank. I think there have to be some sort of agreement like look, I'm putting this much money in your pocket. You know, what are you going to do? Like you you got to you're going to have to pick up the phone.

[00:21:59]Business is done on the phone. you know, I I don't know what to tell you. Um, you know, now who gets all the points in the divorce? I don't know because I mean, as I answer this question, you can probably see why this has been a non-issue for me. But, uh, I would try it. I mean, because again, if I could double my money, like that would be insane. Um, you know, I yeah, I think I I'd be fine doing it. It's not that much more work.

[00:22:21]How are we going to split the money? How unreasonable are you going to be when it comes time to interacting with the bank?

[00:22:26]Those would be my main main concerns.

[00:22:29]Uh, brother, let's see. Leo here. We were just emailing the other day.

[00:22:33]Brother R.J., I'm currently at $8,600 in annual fees, 19 cards. All keepers, by the way. Do you know anyone that pays more in annual fees?

[00:22:43]I sound off down below if you can beat 8,600.

[00:22:47]Maybe I don't know. I met him once, but maybe the Sebie Mandy combination. I know they mentioned multiple platinums, multiple Spires, multiple Bonvoy whatevers. Maybe them. I mean that's he just got a proof of the JetBlue card. I think you're somewhat of an anomaly because you have multiple cards from multiple chains, right? Is where most people even though they're paying a lot in annual fees. It might be a platinum, then it might be a Delta card, then it might be a Hilton card and those get expensive, but they're not going I'm flying American today and I also have the premium jet blue card and then I have the Venture X or whatever. So, you know, every time I talk to this guy, he is on the road. He's not a drunkard anymore. I'm told he may have turned his life around. So, we we salute you for that. But, uh yeah, I I don't know anyone. I I'm paying $95 on one card.

[00:23:32]I'm like, "God, this sucks, but I want my travel insuranceances and things of that nature."

[00:23:38]A tip of the cap to you, sir. I I almost feel like I should bring you on the show and just run through them. I don't have anything to say. I Yeah, let us know down below if you can beat $8,600.

[00:23:48]That's That's almost how much money it's I make 10 grand a year from banks and promotions and like you're blowing it all on annual fees. Uh I'm impressed. I had no notes.

[00:24:00]Nano Particle. Have you ever worn two different colored socks before? I am a beacon of fashion, sir. Do you think I would? I No. I maybe when I was a baby and it didn't matter, but all my socks you'd be surprised to know are black.

[00:24:14]Can I flex? There we go. Um, feet pictures are extra. But, uh, I get them from a company called black socks.com, believe it or not, from Switzerland.

[00:24:23]Fancy. So, they're just all the same.

[00:24:25]And then like my ones for the gym are just black Nike ones. So, I couldn't wear two different colors if I tried.

[00:24:32]And it's been that way for quite some time now. Years and years ago, I used to, you know, have different shades of like, you know, tan because your socks, if you're putting on a suit, technically, I think your socks are supposed to match match to your pants. I think that's how it goes. But so back in the day, I'd have like tan or browns or something, but no, I wouldn't. And I've never been one for like the pattern socks or anything like that. I don't like to have to think too much. I prefer the uniform. You can just grab stuff in the dark if you had to and go. So everything is just black. They're the same all the same style of socks. So I don't have to worry about mix and matching when you pull them out of the dryer or anything like that. Um so no two different colored socks. I'm not that stylish. Um, sorry to break it to you, but but no.

[00:25:14]Um, when I take out my laundry, it's like all just black. Um, again, I have colored dress shirts and ties and things of that nature, but casual clothes that I wear most of the time. No, no chance.

[00:25:26]Matt Clawson, Mr. I believe he's Mr. Wells Fargo himself, the only bigger fan than me. Would any credit unions or any other banks possibly jump into a system like PNC and Bank of America running based on relationship? So, credit banks, I mean, the top guys know.

[00:25:43]I mean, Chase has just has no need. Bank of America does it, so they're fine. US Bank tried it and they crashed and burned, so they're out. City, I would have thought City would be into this.

[00:25:53]City from just from what I glean from their promotional materials, they tend to, I think, like higher net worth customers. I would have thought they would have, but now Wells Fargo again, they kind of do, but they've got like a premium version, Visa Infinite version of the autograph journey, but they don't have anything else. Um, so I think the top four guys are definitely out. I just don't think there's a need to. They get all the money anyways. Um, as far as credit unions, I mean, I think credit unions would be an interesting one, but credit unions aren't really, in my perview, having spent time at one, like competitive or competing. They do interesting things. Like, you'll see a credit union or two pop up with like a 5% checking account, things like that, and it won't take that much to trigger that that type of earnings. So, I think you're probably looking at the midsize banks who want to move farther up like PNC. PNC is a I don't know off the top of my head, but they are a big bank.

[00:26:46]They're just not like G said, like globally too big to fail. You know what?

[00:26:50]I forget the acronym, but too they're not like too big to fail, but if they want to move up, then yeah. So, I could see someone like a Huntington or a fifth fifth third probably wouldn't because their card is only 1.67.

[00:27:01]I guess that's still more than 1.5, which is what the other ones are at. So, I think it had to be somebody like that.

[00:27:07]I don't think credit unions would really do it. I don't think credit unions are built to do it. most credit union products because most credit credit unions are supposed to offer better price and we assume I haven't priced them all out, right? But like when you're getting an auto loan, no one says, "Hey, go see what Wells Fargo's offering." They say, "Go to your local credit union, see what they're offering auto finance and comp that against what the dealer's offering." They're supposed to not be as aggressive as the other ones. And so, I don't think that would work. I don't think they're making enough in fees potentially and things like that. the other big guys doing it.

[00:27:39]They've all got a fee, their fee income is likely significantly higher than a credit union to begin with. So, I think you're really looking at the mid-range folks who want to punch farther upstream. Um, so PNC is a good one. I think Fther, Huntington, Key Bank maybe.

[00:27:54]I mean, I'm talking about ones in my region that I know off the top of my head. Um, but they they would have to have a almost national presence though.

[00:28:00]So, I guess I would PNC I think does, but yeah, I would say you almost need a N. You don't want to. Yeah, I think you would need to be still trying to push towards national be a mid-range trying to move farther up, but I don't think it' be a credit union. I'd like to see Fifth Third or Key Bank do it because they have better user interface. Even Huntington anyone but PNC like god, why did it have to be PNC interface sucks so bad? Uh, good question. I've often wondered why more people don't do it.

[00:28:28]I'm sure there's a reason, but I think the reason is they don't really have to do it. people are just tend to go to the bank next to them and they stay there forever. So, I hope so. Nick, um, with inflation continuously pushing prices up, do you think we'll ever see credit card issuers raise their base reward rates to match, for example, seeing 1.5 move to two? No chance.

[00:28:50]Um, I think part of the inflation and price rises is companies and institutions simply pushing off their price increases. they have to bite onto the consumer and uh you know I think that still goes for financial institutions we don't really see it as much you know because they're not selling they're selling stuff it's not like the same as you go to the grocery store right but if this price of you know something is going up you know I would imagine the cost for a bank goes up we've seen Visa and Mastercard want significantly more of a cut of that of the uh you know the fees so we might see interest rates go up that's kind of how a bank would get more money you'd see fee income go up. Well, actually, when we've seen like Well, Swagago change how to keep their their checking account free. They moved it up from like a $500 direct deposit or $500 minimum to like $1,500, for example. We've seen Chase say, "Hey, we're not going to make it as easy for you to cash out reward points anymore." Things like that. So, we see it in different ways, but because of that, I would imagine the bank's costs are still going up as well. You know, they're still going to have to play pe pay new employees more, not existing employees, but new employees. they're going to still have to pay more for things, more materials that they're using. Um, so I I don't think so. Plus, we also know for whatever reason it breaks after 2%. All right, for the most part, if you were doing 2% everything, it works, but anything after that, it really breaks. And we know after 5% has to be capped or it starts to break. 3% you can do on some categories, but even then we're still seeing city sending out the survey about the Shrata Premier.

[00:30:23]like, hey, we might be change reducing some of these categories uh a little bit. So, you know, I I think it's uh I I think for whatever reason it breaks. I mean, so couldn't do two maintain 2.2%.

[00:30:36]They had to ration it back down or they were charging a fee for it. And the Robin Hood gold is out there still, but we still assume they're kind of in like fintech space where like it doesn't they don't have to make a ton of money yet even though they've been around for quite some time. Uh, US Bank failed, Bank of America readjusted theirs. PNC's coming out. I think theirs will last for a while, but you know, uh, just to readjust it to kind of say, "Hey folks, we know your money isn't worth what it was before." No chance. Um, no chance at all. I I can't see that happening because again, they'd want to return that money to shareholders or reinvest it in the company or something like that. Should it happen? Yeah. I mean, is the one thing about cash back though? We do make a big deal about high devaluations and that whole thing. But cash back is devalued through inflation to your exact point. We just can't do anything about it. So we tend to we complain but like not as loudly as when Hyatt does it. But I don't think we're going to see that. Um I used to think eventually someone would have to push past 2%. The problem is we've we've seen it and it just hasn't gone. I mean, to get past 2% with to get 4% from US Bank, you've got to stake $100,000 in dead money essentially to do it. Um, so it's been proven in the other ones will again will allow you to put it in a brokerage account, but you're not going up to three 3%. It's a half a million at PNC to get to 2.7%.

[00:31:58]And by then, we've got to assume I've got, you know, multiple things and PNC still seems to be pushing managed services over self-managed, which would probably make up for it at half a million, I would guess. So, uh, unfortunately, no. Long story long, I don't I don't think so. Two more here.

[00:32:15]Boomer grad here. AAA is apparently using another method. Um, I don't know the OT means to for to basically to check MCC, merchant category code.

[00:32:24]received 1% via PayPal payment for Walmart usually 5% for all purchases. US Bank MCC download still displays groceries.

[00:32:33]So he's basically asking is there a workaround because AAA used to get 5% for Walmart in person even though it was a super center. I don't know of any workaround. the old the old old workaround for many of them used to be um well some things not all the things like PayPal had like I can't remember the name of the feature but basically you could put a credit card or something in PayPal pay with PayPal and then it would you know show up as something else they got rid of that likely because the banks didn't like not knowing where the payment was coming from just security risk they don't need to deal with it so as far as masking MCC code no I don't I mean there's in the app sometimes you can change the category manually but that doesn't change the MCC code. I think that just changes how it hits like your budget tracker or something. I don't think there's a way to actually um change it like that. I don't know a way around it by any means. I think because the MCC code is picked by the merchant when they set up their payment processing and even then as we've learned like you know AAA or community bank, they have a way to like take it and translate it on their end to what they wanted to code as. Cuz we have seen some cards really messed up like when the Wells Fargo tune came out, there was issues with how it was coding MCC's. And even though everyone else was coding it one way, they were just translating it on the back end to something entirely different. Probably wrong. So, no, I don't know another way. If you want the 5% Walmart, you're probably looking at having to get the Walmart credit card, which isn't a bad credit card if you've got Walmart Plus and you you hit Walmart pretty frequently. It's not a bad option, but I don't I don't know another way. Uh, sadly, so sorry.

[00:34:07]Um, technically good, which is not something you can say about this show, but we'll answer your question. Are there any premium travel cards that still offer lounge access for your player, too? No. I guess you're going to have to break up. Um, kind of sort of. So, I think priority pass, you can still sometimes get a priority pass select. You can get like yourself and two other people uh in there on some of them, not all of them.

[00:34:30]I you have to look at the priority pass membership. I don't remember off the top of my head. What I think you care more about is like the actual lounge like a Delta or United. I think triple no not AAAmerican Airlines double A. Uh the executive card you can still bring in a guest I want to say with that one which either will be super helpful to you or not helpful at all if you don't fly American. But um Centurion most definitely not or you got to spend 75 grand and then you can do it. Um, Chase, Sapphire Lounges, no Venture X, not in their lounges, but in their priority pass, I believe you can. Um, United, I think it's just you as well, cuz they've all kind of figured out like, hey, even though most people don't travel alone, unless it's for work, you're either going to have to buy a product or go or pay the fee to get in. I mean, I think they're still unreasonable with the the amount they charge for kids. I I don't the age cut off for kids is like surprisingly low that you know because they're going to get their their money's worth out of it. So I don't know off I think American Airlines may be the executive card but outside of that and not counting priority pass just a dedicated lounges Delta might let you use one of your lounge passes on a guest you know like six visits a year or whatever it is for like the platinum maybe but that's still not quite what you're asking. You just want to bring a buddy or a play or two. And I think they've all that's when when when the overcrowding started to get really really bad. That's one of the things they scaled back. I think either hey you're going to have to because you used to be able to pay more for I think Delta used to you could pay. I think they got rid of that. I could be wrong. Um so you're just limited. Yes. They really want you to have a card even kids now which is I think pretty messed up because again how are you going to get a kid in there? They're charging way too much for what you get in my opinion. But anyways, if you world drag Leo sound, if you made it this long, you might have a card that works with your $8,600 in annual fee. So, let our guy know what you're using uh to get into the lounge with all your mates. But anyways, dude, mates is in friends, not player, too. I don't know why I said it like that, but anyways, uh that has been the Q&A for this month. So, of course, thank you so much for writing in. If you found it interesting or liked it, consider dropping me a thumbs up down below. If you found it particularly interesting, consider subscribing to the channel.

[00:36:39]We're posting content just like this every single week. Of course, right back here every Sunday with all the news you can use in the week that wasn't credit and finance and of course every single day over on profitable content.com which is of course our blog linked down below for you and on the channel homepage over there we post latest news stories, have plenty of bank promotions and some credit card offers. I don't know what their lounge situation is like but we got some points for you. Anyways guys, that'll do it for this one. As always, thank you so much for watching and talk to you very soon in the next one.