We have several credit cards but we've always preferred cash back. Now we've decided we'd like to accumulate miles instead. We currently have a Capitol One Platinum MasterCard and are considering switching that to one of the Capitol One Venture cards, either the no fee 1.25/mile per dollar one or the $59 fee 2 mile/dollar one. Are there other options that could be better for us?

Some info about how we'd use it: We currently charge 60K - 70K per year, pay it off every month, and have excellent credit. Travel is out of Detroit, so usually on Delta, and we take one European trip most years and 1 - 2 domestic flights. No business travel at all.

I'd appreciate any suggestions, thanks!

Even though CapitalOne calls their rewards "miles" they are not transferable to any airline and have a fixed value of $0.01 each. In this sense they are simply a restricted form of cash. The advantage of real airline miles is that they do not have a fixed cash value.

In which cabin do you fly to Europe: economy or business?

I would probably choose one card (each) for primary spending in the most beneficial mileage program. (Which I'd say is probably not DL even though you fly them when you pay), then churn a couple others that can transfer into your chosen program just for the sign up bonus (with min spend)... Think SPG Amex, etc. I think I'd choose AA card for OW or US card for *A if it were me but then there are some mile chrurning opportunities left on the table as outlined next.

Unfortunately Amex Membership rewards and Diners don't have the most sexy transfer partners (most will charge fuel surcharges) may still be worth a look for sign up bonuses alone. DL is a common transfer partner of them all but is probably by far the worst of the big 4 US programs for redeeming (hence why I said DL may not be the best card even if you fly them on revenue tickets) ... If you don't mind paying the fuel surcharges then there are plenty of partners common to SPG, MR, and Diners that would give you great redemption options.

Lastly I'd be redemming for business class regardless of the card and program you choose, even if that means only one free every 2 years, your miles to ticket price value is much better that way and no worries about status as biz gets lounge, extra luggage, etc.

Signup bonuses will almost always yield much better payoff than everyday spending earnings.

How many cards are you willing to open? How frequently?

Wow, this is complicated. I was hoping I could just open a card, charge stuff on it, and sit back and accumulate miles. Maybe this isn't for me after all. Doesn't it hurt your credit score to keep opening cards?

It really depends on how much you want to get out of it. With your level of spending, you could simply use one card and expect to earn approximately 1 coach ticket to Europe each year.

Compare to the reality that each credit card signup is roughly 1 coach ticket to Europe.

Sometimes. And sometimes it improves your score. And sometimes, even if it hurts your score, it's still worth it.

Sounds like the first step for you is to become very familiar with credit scoring. This is the best place to start: http://www.myfico.com/crediteducatio...yourscore.aspx

Which one do you prefer:

1. 800 credit score - limited number of CC for all your expenses

or

2. 760 credit score - numerous CC (10+) but get all your hotel + tickets paid by the CC company.

If you prefer 1, just get Chase Sapphire Preferred & Chase freedom or Chase United.

If you prefer 2: Start learning this thread + Manufactured spending thread. No pain no gain. FWIW: we just came back for 8 days trip to hawaii (tickets + hotels paid by Chase United + Hyatt + Holiday inn, 3 CC each between my wife & I) We're going to Hilton Barbados (5 days) next april paid by Citi

It helps that my wife & I have no need to apply for mortgage or car loan in the near future.

You certainly can do just that and get some free travel out of it, but at a much slower rate. You have to remember, this site in general is full of people who try to get maximum use out of points, so that's typically the types of recommendations you will get.

Personally I wish I still lived in the US where I could work this system too since there are so many massive sign up bonuses to be had. Here in Japan you're lucky to get 10k points/miles on a sign up bonus most of the time, usually far less than that and very rarely get a first year annual fee waived.

Not in the long run and not in your situation. If you're organized, have great score, keep track of your cards, do not go into debt or late payments, then you stand a very good chance never have to pay for your travel ever again.

There is only one major condition though. You must be willing to do your homework and start studying this thread. It has everything you want.

You need to concentrate on sign up bonuses rather than regular cahsback. Which is easier: to apply for a card and get 50,000 miles or to spend $50,000 and get 50,000 miles? Just think about it!

Anyway, back to your question. I don't recommend dealing with Delta at all, at this point. I know it's convenient for your hometown, but Delta is a pain for accruing and for redeeming miles.

Citi AA currently has a personal and business credit card with 50,000 mile sign up for each. You and wife can easily get 200,000 miles fast. That's 4-5 Roundtrips to Europe in coach or 2 in First/Business. Read the relevant thread: http://www.flyertalk.com/forum/credi...ost-first.html (Wiki and the last 10-15 pages).

Yes, you absolutely can apply for a business card even if you don't have a business.

Chase United has 55,000 bonus but there is a trick that need to be employed. I wouldn't start there.

Chase Sapphire Preferred has 40,000 point bonus, and their points can be transferred to United and other airlines. Chase also has two separate business cards, Ink Bold and Ink Plus with 50,000 point bonus each. It's easy to collect 280,000 Ultimate Reward points between the two of you in a short period of time if you don't mind high spend requirements. An RT flight to Europe will cost you 60,000 miles on United. Find discussions about Chase Ultimate Reward cards here: http://www.flyertalk.com/forum/chase...e-rewards-722/

All this stuff will make your head spin at the beginning, so you'll have to decide if you're willing to learn and change your paying and charging habits. Because habits, as everyone knows, die really, really, hard.

Good luck, and welcome to Flyertalk.

Based on this travel pattern I might argue that a cash back card is as optimal as a miles card. A good 2% cash back rewards card can pay off your 1-2 domestic flights a year.

If you're going to go into the hobby to accumulate miles and points through sign-up bonuses, I would start slowly. Chase Sapphire Preferred is a good all around card. Maybe also consider a hotel card that gives you a free night every year (like Hyatt or Marriott or IHG). Two of those between you and your better half can pay for a quick weekend getaway.

So here are my thoughts on the different type of people.

1. Set it and forget it! - Just want 1 card that gets you the most travel benefit. Super easy. I am sure you can find this somewhere on this site. This is not me but works for some people.

2. Churn and Burn - Wants the most miles possible. Almost to the hording extent but often times will use the miles (unlike a hoarder who just fills their basement with junk). Takes a lot of research and effort just to stay on top of everything. I have a friend who went from nothing to almost 1 million miles in 18 months. This is also not me.

3. Controlled Value seeker - Only signs up for cards when they are at good bonus levels but no more than 2-3 at a time. Once miles post then cancel the card and look for the next one to replace. This is me. Some that I have done and would recommend would be:
- British Airways Avios (75k if you can still get it was worth 7 R/T tickets on AA from ORD to BWI)
- American (wait for at least 60k option)
- S/W when the 50k comes around. Double up with both versions and get the free companion pass (100k miles in a year)
- US airway (merging with AA soon, no min spend or annual fee)

My rule of thumb is that each "hard pull" of my credit history causes about an initial 8 point hit to my credit score. That initial hit is reduced by about 50% after 6 months and then disappears after about 12 months.

However, if your credit utilization % goes down as a result of acquiring more credit, it could help your score too.

As was mentioned, even if it's a net reduction in your FICO score for a while, unless you're planning to apply for a mortgage or other loan sometime soon, it's often worth it.

Well, since it's not 2011, I wouldn't wait for 75K Avios or 60K AA. 50 and 50 are still quite decent especially that Avios is waiving the annual fee right now. 50K SW and US Air are available right now, so there is no reason to wait.

And I still hope the US Airways merger with AA will fall through. A guy can dream.

Is there a reason you would choose the US card over the Chase United card for *A?

While I understand that this is not an uncommon view, it still seems strange to me. Having a great redemption value in cents per mile doesn't necessarily make up for reducing the number of trips that you take.