Optimal Perpetual Wallet Holdings

Service Members who receive the Military Lending Act Protections for high end credit cards ($400+ Annual Fees) should consider holding only these cards as benefit producing assets despite what Dave Ramsey says is a tool for certain financial devastation. Once acquired, all travel expenses will be spread out over this card portfolio to generate perpetual memories and feels for your family that you will cherish the rest of your days, for free.

Chase (5/24 Restricted)

  • 5/24 rule: no more than 5 card opened at ANY BANK in 24 months
    • This includes Authorized Users (AU)
    • Do not make yourself an AU to a spouse card and vice versa
    • Wait until the first day of the 25th month after your fifth account was opened.
  • Due to 5/24 you should always hit Chase first
  • 2/30 rule: two applications every 30 days
  • 24 month bonus rule: Sign Up bonus per 24 months
  • 48 month bonus rule: One Sapphire Bonus per 48 months
  • Active Duty & Spousal Waivers of Fees Per MLA (Post Oct 2017)
    • Submit request via Secure Chat
  • Product change must stay each brand family
Product NameDispositionReturnReferral
Chase Sapphire ReserveAll Travel$300No
Chase FreedomChange to CSR$300Yes
Chase Freedom UnlimitedChange to CSR$300Yes
Chase United Club Card*A Lounge Access$550No
Chase Bonvoy BoundlessChange to Ritz$300, 1 NightYes
  • Chase Sapphire Reserve reimburses $300 in travel expenses
    • Resets every 12 months form open date (Anniversary Date)
    • For airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages
  • The Ritz Carlton Card offers $300 in airline credit
    • Can be used for inflight dining, luggage fees, seat change, and lounge access, but must be called in each time
    • card offers $100 off any pair of domestic round trip tickets
    • resets every 01 January

American Express Credit Cards

  • 5 Credit Card Limit (Unlimited Charge Cards)
  • 1/5 rules: one new card every 5 days
  • 2/90 rule: only 2 cards in a 90 day period
  • Lifetime Bonus Rule: 7 years between receiving bonus again
  • Active Duty Waiver of Annual Fees Always
    • Submit via website link
  • Product change must stay each brand family
Product NameDispositionReturnReferral
Hilton Honors AspireAll Hilton$500, 1 nightYes
Hilton Honors AscendUpgrade to Aspire$500, 1 nightYes
Hilton HonorsUpgrade to Aspire$500, 1 nightYes
Marriott Bonvoy BrilliantAll Marriott$300, 1 nightYes
Delta ReserveAll DeltaComp PassYes
  • Hilton Honors Aspire offers these annual benefits:
    • $250 Airline Credit (5x $50 delta gift card, 1x $250 SW Gift Card)
      • Resets 01 January
    • $250 for HIlton Resorts (room rate or room charges)
      • Resets card anniversary
    • 1 free weekend night any Hilton, except these places
      • Resets card anniversary
  • Bonvoy Brilliant has these annual benefits:
    • $300 spend on room rate or charges to room at Marriott
    • One Free 50k night at any Marriott
  • Delta Reserve
    • One free companion pass, up to first class
    • Resets every card holder anniversary

American Express Charge Cards

  • No Foreseeable card account limits (Infinite charge cards)
  • 1/5 rules: one new card every 5 days
  • 2/90 rule: only 2 cards in a 90 day period
  • Lifetime Bonus Rule: 7 years between receiving bonus again
  • Active Duty Waiver of Annual Fees Always
    • Submit via website link
  • Product change must be similar Biz or Personal charge card
  • Must wait 12 months to upgrade personal cards
  • No wait needed to upgrade business cards (although get the bonus first)
Product NameDispositionReturnReferral
Platinum ChargeDirect Airline Booking$500Yes
Gold ChargeGroceries, Upgrade to Pt$500Yes
Green ChargeUpgrade to Pt$500Yes
MS Platinum ChargeDirect Airline Booking$500No
CS Platinum ChargeDirect Airline Booking$500No
AP Platinum ChargeDirect Airline Booking$500No
Business Platinum $5,000+ Buys, 35% Refund$400Yes
Business Gold$5,000+ Buys, 35% Refund$400Yes
Business Green$5,000+ Buys, 35% Refund$400Yes
  • The Personal Platinum has the following $500 annual benefits:
    • $100 Saks Fifth Avenue: $50 Jan to Jun, $50 Jul to Dec
    • $200 Uber: $15 a month Jan to Nov, $35 Dec
    • $200 Airlines: Jan to Dec (4 x $50 Delta gift card, 1 x $200 SW)
    • 5x MR points on airline tickets booked directly with airlines
  • The Business Platinum has the following $400 annual benefits:
    • $200 Dell: $100 Jan to Jun, $100 Jul to Dec
    • $200 Airlines: Jan to Dec (4 x $50 Delta gift card, 1 x $200 SW)
    • 1.5x MR points on any charges over $5,000

Citibank

  • 1/8 rule: one application every eight days
  • 2/65 rule: two applications every sixty five days
  • 6/6 rule: max six hard inquiries in 6 months
  • Active Duty & Spousal Waivers of Fees Per MLA (Post Oct 2017)
  • Can Product Change from any card to any card (cross family)
  • 24 months between initial family bonuses (not by card, but by brand)
    • AA points earned on Executive will deny points on new platinum
    • TY points on Prestige would deny TY on Premier
    • Use Mailers to get around this language
Product NameDispositionReturnReferral
Citi PrestigeAll Dining$250, 2x 4th night FreeNo
Citi PremierPC to Prestige$250, 2x 4th night FreeNo
AA ExecutiveOW Lounges$650No
AA PlatinumPC to Prestige$250, 2x 4th night FreeNo
  • Citi Prestige gives $250 in airline travel credit and 2 free nights:
    • Credit on: airlines, hotels, car rental agencies, travel agencies/travel aggregators/tour operators, commuter transportation, ferries, commuter railways, subways, taxis/limousines/car services, passenger railways, cruise lines, bridge and road tolls, parking lots/garages, and bus lines
    • 4th night free is based on the average of nightly rate of the total 4 consecutive nights stay
    • Can product change any card to prestige after one year

U.S. Bank

The only U.S. Bank that is worthwhile is the U.S. Bank altitude which requires a prior relationship with the bank. The MLA does waive the $400 annual fee, and it offers a $325 travel credit that renews with every card anniversary. The card is hard to get and several readers have been denied because of too many open accounts at other banks. Not sure the actual numbers or rules have been established. The only other card with annual benefits is the Skypass Korean Airlines Select which comes with $200 travel credit and two lounge passes for North American Korean Airline Lounges.