To me, 2% cash back is better than earning miles unless I'm spending to get a bonus, such as a sign-up offer with a lot of miles. The past two years have involved a lot of those bonuses, but I have still charged a lot on my Schwab Visa during the gaps.
Instead of 2% cash back and no forex on one no fee card, I would settle for 2 no fee cards, one with high cash back (stay on the hunt for those 2%ers, Gary), and another with no forex. A couple of years back, getting no forex was getting tougher, but Chase has several usable cards now.
Looking back over the last 10 years, I think I have always had at least one card with no forex fees. For a while, it was Cap One, and while I know their terms are attractive, I'm really hoping I don't have to jump back in bed with them.
One other observation-I don't disparage BofA for dumping the Schwab card. As I've posted in the past, I'm surprised they kept it this long-they couldn't have made much if anything on that card.
I wonder what BofAs card strategy is-they obviously aren't serious players in the airline business. Do they have other market segments where they lead?
Last edited by mia; Sep 2, 2011 at 3:55 pm
Reason: Combine two consecutive posts