I am in similar circumstances with the op, and have flubbed around over the years... accruing points but not always satisfied how I did it.

I have an AMEX platinum for use in access to the crown rooms for Delta, NWA and (I forget) one other airline. It's important to me and psychologically worth the money.

It also gives me gold status with SPG and Hertz, among other things which has value to me.

I also have a Citicard American Airlines Master Card for places that dont' take AMEX. I've over the years accrued enuf miles that I just booked 2 tickets for my son and his fiance to Hawaii for their upcoming honeymoon.

But I've been displeased with AMEX's limitation on the airlines I can transfer to... esp since I don't think Delta has the award availability on skysaver awards... so I would love to have been able to transfer those Membership Rewards miles from AMEX to AA so I could have given my son and his bride first class seats.

Based on that and also the prospect of getting the bonus points for my first purchase, I just applied and was approved for the SPG AMEX credit card.

In it's simplest form, I'd want the SPG card for it's flexibility of redemption and a MC as a backup for where AMEX is not accepted.

Rita