ARL is in the process of adding contactless payment, but until that’s finalized it’s cash and QR payments only. BTS CC’s are accepted at the ticket offices, not the machines, and charges are coded as travel for Chase at least. Not sure if you can load Rabbit with CC though as I’ve only ever done that with QR. Rabbit cards also work on some buses and boats so for those that plan on using those, it may be a good option (see https://www.rabbit.co.th/transport.) MRT accepts Visa/MC contactless.

If one is staying at a hotel near Asoke or Phrom Phong BTS, it would make more sense getting off the ARL at Makkasan and do Grab Taxi/Bolt to the hotel from there instead of transferring to BTS and backtracking from Phayathai.
The ARL to MRT at Makkasan/Phetchaburi option to Silom or Lumpini stations would cover hotels in Silom/Sathorn areas respectively.
Unless you’re staying at a hotel that’s connected directly to a BTS/MRT station or via a walkway or within a few minutes walking, you’ll likely need to take a Taxi/Grab to your hotel from the station anyway if you have any luggage. So unless traffic is showing 1.5 hours+ to/from the airport, taxi/Grab/Bolt/aot the whole way might just be the easiest (not the cheapest).

Luggage is not a problem starting the trip from the airport station as that’s the end of the line. For the reverse, getting on at Phayathai would solve the luggage issue for the ARL, but not the BTS if its during rush hours.