My Credit Card Strategy for 2016

Throughout 2015, my little family of four enjoyed credit card rewards-fueled trips to a broad range of travel destinations. It all started with a trip to St. Maarten to relax on the famous Maho Beach in February. After that, we hit up destinations like Montego Bay for Spring Break, Las Vegas and the West Coast, then on to Denver and Beaver Creek, Colorado. We also saw Charlotte, North Carolina for a financial blogging convention, then went off to explore Italy a few weeks later. As I write this, I’m getting ready to pack for our final family trip of the year on credit card rewards – seven nights at the JW Marriott in Cancun.

So yeah, I earned a ton of points and miles in 2015. The crazy thing is, I didn’t even apply for a new card in the second half of the year. Once my husband applied and was approved for his new Chase Ink Plus card, I decided to give both of our credit reports a much-needed break from hard inquiries.

Now that 2016 is here and I have burned through a bunch of points and miles, I am ready to ramp things back up. Here’s a rundown of the cards I hope to get- and when:

I might get a few of the Southwest credit cards – Since we cashed in a bunch of Marriott points for an Air + Hotel package, my husband’s companion pass is good through the end of 2016. Mine isn’t, however, although I hope to change that. If the Southwest 50,000 point offers come back around at the first of the year, I plan to pick up both a personal and business version of the card and earn the companion pass for 2016-17. {Related: Is the Southwest Companion Pass Worth Getting?}

One of us is definitely getting the Citi Prestige card – Believe it or not, neither one of us have ever had the Citi Prestige card. Since we have a big chunk of Citi Thank You points already, at least one of us plans to get this card in 2016. While the $450 annual fee is high, it is offset by the $250 air travel credit each year as well as the complimentary 4^th night on any hotel stay and the improved redemptions on American Airlines flights booked through the Citi travel portal.

I’m keeping my eye open for new business card offers – Since my husband and I merged several businesses into one last year and got a new TAX ID number, we are on the hunt for lucrative business card offers. So far that business only has the Chase Ink Plus card, but I would like to sign up for a few more excellent offers if they ever come along. {Related: How Can I Get a Business Credit Card?}

I plan to continue racking up Chase Ultimate Rewards – Chase Ultimate Rewards is my favorite rewards program hands down, which is why I am heavily invested in it. Currently, we both have a Chase Sapphire Preferred card and we share a Chase Freedom card and a Chase Ink Plus business card. Using this combination of cards, we’re able to take advantage of the benefits of each – the 2X points on travel and dining with the Chase Sapphire Preferred, for example, plus the 5X rotating categories on the Chase Freedom. We also use our Chase Ink Plus card for 5X points on phone and internet, plus office supply stores. In 2016, I plan to continue this strategy.

Final Thoughts

One question people frequently ask is if there is an “end” to this game. I always say “no” because, no matter what, there are always new rewards cards or offers to pursue.

The key to making it last is to have a comprehensive strategy. Space applications out appropriately and try not to be too greedy. At the end of the day, there will always be credit card sign-up bonuses, special incentives, and rewards for those of us with good credit. It’s up to make the most out of what is out there, and to continue using these offers to see he world at prices we can afford.

What are your credit card rewards plans for 2016? What cards do you have your eye on?