I know this is rehashing of an old and possibly talked-to-death subject. But nobody seems to have mentioned Providian, which is providing 1% rate, just like cap1. I just got the card and was pleasantly surprised when I saw this terms.

I read somewhere (cc forum) that cap1 is going to be increasing rates soon, so don't hold your breath.

Providian plus my 2 mbna cards that are keeping to 1% are what I'm going to use overseas now. However, mainly merril lynch + card because providian doesn't offer rewards. Get a providian card for emergencies and for checking your credit report lol