Hello everyone,
We have been traveling around the world for the last 6 years (loving our Capital one non foreign fees). However this year we are going to plant ourselves and kids in the USA for good. We will be buying everything.....cars, house, furniture, etc, etc. Its going to be a very expensive year. We have the cash to pay for most of this but we would love to not waste the opportunity to earn miles/cash/something! We are 1k on United, Platinum Elite on Marriott, Platinum on Priority Club, Diamond on Hilton and then lower levels of other things. Our local airport will still be a United hub.
Currently we have a Capital one card (earning miles or cash at 1%), Amex Cash (1% back until $5k then goes up). But I think we could do better. We both have excellent credit scores (797/793) and our income is good also. I always thought that you didn't want to keep getting new cards because it hurts your score, but that doesn't seem to be an issue from what I see on this board. Is it any issue if applying for a home loan?
I have been trying to read up on everything on this board (getting a little lost due to not understand the abbreviation), and it seems our best bet would be a SPG Amex. But since Amex isn't taken everywhere whats the next best visa/mc? Should hubby and I each apply for our own cards or just one account with one company? Also since it looks like referrals get a better deal on some cards, please SPAM me with some referral links so we can help each other out!
And finally how about checking/saving/MMA do those have any perks now a days?
Thanks in advance for helping!

I'd start with a mortgage application first and then move into looking for new plastic. One or two credit card apps probably wouldn't impact the mortgage decision... But I'd stay on the safe side of that.

As far as credit cards are concerned: Do you want points/miles or cash? Do you need to maintain status?

Agreed, even a tiny difference in the mortgage APR can amount to thousands of extra dollars over 15 - 30 years.

So do upgrades affect your credit score? Could you go from a no annual fee HHonors American Express to the Surpass without it affecting your credit score? I am curious as I too will likely be shopping for a new mortgage this year.

There are a few cards out there with 2% cash back. Fidelity Amex is one of them, I think Schwab has one also. I think the Fidelity card pays off in $2500 increments; i.e. charge $2500, they pay you $50. They call it a "retirement rewards" card but in practice you can have the money deposited to any Fidelity account, even their cash management (e.g. checking) account.

We would need help maintaining our 1k status and marriott platinum..... wouldn't care much about maintaining the rest of them.

Yes, you can switch back and forth between the regular HH Amex and the Surpass. They'll let you keep the same account number so this shouldn't be considered a new line. In fact, I moved from Delta Amex to the HH to the Surpass back to HH. (i had a year of heavy hilton stays). I have the same card number as in the beginning. It's reported as the same card on my credit report.

I think you could try the Presidential Plus card from Chase for a bit of help on United. I'm not sure of specifics, but the fee is hefty. Likewise, the Marriott card has some status accumulation points. The surpass HH Amex also gives top tier for 40k spending, so you may want to look into that if you aren't completely set on Marriott.

Lastly, I agree that some combo of cash back cards would also be good. You have to breakdown where you'll be spending to really figure out the specific card. You should be shooting for 2% or better.

Again, I'd probably wait until after your mortgage clears before putting in a bunch of credit card apps...but after that is done is when the fun begins.

did you get sign-up bonuses for all the cards when switching? That would be nice to know if you can go HH-Surpass-HH and get all 3 sign-up bonuses

Absolutely positively NOTHING is MORE important that getting your mortgage rate locked in first. If you're talking about opening 1 or 2 cards, fine, do it at any time, but DO NOT CLOSE, open more than 2, or start churning cards - until you have a locked in mortgage rate.

Your credit is most valuable when used for home loans - period.