Adding two cards to my portfolio - advice?

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politemusic
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Adding two cards to my portfolio - advice?

Postby politemusic » Tue Sep 18, 2012 8:21 pm

Hello,

I'm a guy who has long been ambivalent about credit cards, until all my friends started showing me their benefits! Compared to the lone Wells Fargo MasterCard in my wallet, it's incredible what people seem to be getting now. I've done a bit of research, and narrowed it down to me wanting two cards: a cash back card, and a travel/awards card.

I'm in my early 40's with a credit score of about 795. I make about $150k a year. I travel about 4-5 times a year, generally. So with that, a card that pays for a baggage allowance might be a nice perk. I'd like my girlfriend to also have copies of both cards, in case that's a factor in advising me towards ones that allow you to have multiple users per account. Anyway:

I'm interested in these travel rewards cards:

Amex Gold Premier Rewards
Amex Blue Sky Preferred
Chase Sapphire Preferred
Capital One Venture (though I'm a bit concerned that you can't apply partial rewards to supplement a purchase)

And these cash back cards:

Amex Blue Cash Preferred
Chase Freedom

I'm leaning towards the Amex BCP, and either the Venture or the Sapphire. That said, the Amex Gold Premier Rewards is interesting because of the fun prestige value and cool benefits, though I'm not sure if it would pay for itself in terms of the steep annual fee. Thanks so much in advance for any advice you can give.


politemusic
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Postby politemusic » Fri Sep 21, 2012 11:51 am

Any thoughts on this from anyone? I appreciate your time.

Money card
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Postby Money card » Sun Sep 23, 2012 4:01 am

I would skip the blue sky card
the Gold rewards offers 3x the points on airfare 2 on grocery and 2 on gas, will you be entertaining clients/ customers
at sporting events, do you have a need to get tickets to events before the public like rock concerts?

the Chase Sapphire perfered gets 2x the points on dining, travel , which includes airfare, hotels and rental cars
you get concierge service.

I will assume when you say Capital1 venture you mean the Blue level 2 miles.

looking at your list and what you had to say is correct the gold premiere is certainly an executive card.
if you used the chase sapphire perfered for shopping in addition to traveling , let's say for example you bought a gift card
to bare essentials for girlfriend, clothes at the gap, j crew you know you would only be earning 1 point per dollar
as you know about capital1's no partial break up , but you would get 2 miles on the gift card and clothing.

from this said I would apply for all 3 or 1 card per year try them out see how you like them , see which you like best.

jeffysdad
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Postby jeffysdad » Sun Sep 23, 2012 7:11 am

Why travel and cashback? Why not one or the other? You seem to travel enough to make travel cards worthwhile. Picking one reward type would be simpler.

If you are a very active participant in a particular airline or hotel's loyalty program, consider the card associated with that program. As you mentioned, free checked bag is attractive perk. If not, Chase Sapphire Preferred would be good. Also, any of the Amex cards; pick the best one for you. CapitalOne might be good, too, but I wouldn't know.

Also consider the combination of Chase Freedom and Chase Sapphire Preferred. Other threads on this site have discussion about using these two cards together, particularly with a Chase checking account as the checking adds a small bonus to your Chase Freedom rewards.

Amex would probably be best if you want to share your credit with your girlfriend as they might offer facilities for limiting her charges, etc. I myself would never share credit with a significant other, frankly not even a spouse, for that matter.

See my signature for cashback suggestions as that's the reward that I'm pursuing.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

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djrez4
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Postby djrez4 » Sun Sep 23, 2012 8:32 pm

jeffysdad wrote:Also consider the combination of Chase Freedom and Chase Sapphire Preferred. Other threads on this site have discussion about using these two cards together, particularly with a Chase checking account as the checking adds a small bonus to your Chase Freedom rewards.



I think this is the best option - It offers great travel rewards, including no forex on the CSP, but can also provide significant cash back. As of February of 2013, Chase willing, this will be my main combo.
[RIGHT][size=100]- Sapphire Preferred - Freedom - Ink - Platinum - Everyday Preferred -[/size]
[/RIGHT]

politemusic
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Postby politemusic » Sun Sep 23, 2012 10:42 pm

These are excellent tips. Thanks so much to all who have reached out.

Thus far, I've applied for (and was instantly approved for) the Chase Sapphire Preferred. I've also applied for the Amex Blue Cash Preferred. I may, as a third card, go for a Chase Freedom at some point, though I think for now I'll see how these two do.

Money card: I don't really need to have a card set up for entertaining clients much, nor do I need to get concert tickets too often. I think, for me, I just liked the points structure of the Amex, as well as the 1 for 1 transferability to airlines' mileage programs. The other thing is, I don't buy my own airline tickets much, they are mostly purchased on my behalf. But I do travel enough to international locations enough to warrant me having a card with no forex, hence the need for either the CSP or the Capital One Venture.

Jeffy's dad: You bring up good points. I'm not active with one particular airline. It's usually a toss-up with American, United, and Delta along with their affiliates. I'm sort of regretting not applying for a card with a free checked bag perk. :( I certainly hear you about the combo with Chase Freedom and CSP. That's interesting, certainly.

djrez4: I agree with you. How do you like your Amex Preferred Rewards Gold?

Thanks again, all.

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Postby Money card » Mon Sep 24, 2012 4:25 pm

your welcome.



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