Hey guys,
So my wife and I are relatively new to this points thing. Having just had a baby and now actually making good money its always been on the backburner. Now I have a few questions as I have just hung around in this forum and read a bunch of things but still have a few questions. We have a chase preferred card that we have been using and like especially for dining. We just applied and got the amex platinum card. My dad has always had one and I love the fact you can use lounges everywhere you go practically plus it had a 60,000 sign on bonus. . Also like the luxury status you get at hotels and car rental etc... My wife and I dont travel much but when we do we like to travel nice so it is a nice perk to have. Now however I kind of feel regret as I think the saphirre reserve has better points system than platinum, or is it just a glorified preffered card that costs $450 a year?

1. Many people say to just pair CSP with the platinum. I never understood this concept as this gets you points in two different companies, you would not be able to combine them so I am not sure how that is beneficial. Anything I am missing here?

2. Would it be better to get the amex preffered everyday as it is basically 4.5x supermarket, 3x gas and 1.5 everything else (we do more than 30 transactions a month) which sounds really good and I could pair it with Platinum 5x on flights.

Kind of lost on what to do

Thank you everyone!

Welcome to FlyerTalk, gbahri.

Depending on where you want to fly, only one (or two) of the three major airline alliances may have award flights. So many people don't want to restrict their miles collection to just one airline / alliance. Thus some people might get Amex MR for Delta, while using Chase UR for United, for example, so that they'll have (the ability to quickly transfer to) miles whether only Delta shows an award or only United shows an award.

On the other hand, if you don't have a plan to collect enough points/miles in each program to get to a "usable" level (for whatever you want to do with them), then yes it can "hurt" you to have split your collection of points/miles to too many places that aren't combinable.

And thus there's no one answer (as to whether to collect multiple currencies or just one) that fits everyone.

As to your specific question, yes, if you buy groceries, then definitely either Everyday Preferred or the no-annual-fee Everyday would make perfect sense to pair with any other Amex MR card. Whether you should go for the Everyday Preferred or the no-annual-fee Everyday depends on if you'll use it enough to make the extra earnings pay for the annual fee. (That, in turn, is a balance between how much you spend on credit cards annually and how much you'll be applying for other cards where you have to do big spend to get a signup bonus. Big spend for a signup bonus may mean that for a while you have to stop using other cards, meaning you no longer get as much justification toward annual fee on those other cards.)

Some very good points made above.

I definitely think it's worth having both CSP (or CSR) and Platinum, as the transfer partners are different. Also, with the CSR, you can use points for airfare at 1.5 cents per point by booking through Chase, though that's not necessarily the best use for them.

You and your wife could alternate years with some of these cards -- this year you get the Platinum and your wife gets the CSR; then you cancel (unless you get a good retention offer) and you switch for the second year. Then by year two you'd have a sizable point balance between the two of you. That's assuming you can meet the minimum spends. The CSR is worth it for one year because you get the $300 travel credit twice (once each calendar year) in addition to the points. Whether it's worth it compared to the CSP after that depends on how much spending in the bonus categories you do, and whether you value the other benefits enough. Also, make sure you read the threads in the Membership Rewards forum regarding maximizing the Platinum's airline-incidentals credit, as you also get that once each calendar year (so twice in your first cardmember year unless you happen to open it on January 1).

The biggest point accumulation happens through signup bonuses. So if you can meet a bunch of minimum spends, you can get a few cards, which may translate into free flights or hotel rooms. Go for Chase cards first, as many Chase cards won't be approved if you already have 5 new cards opened in the past 24 months (the dreaded "5/24 rule"). As was mentioned above, meeting minimum spends means shifting spend (ideally non-bonused spend) to your new cards, so you have to consider whether annual fees are worth it to keep old cards that you may not use as much when opening new ones.

Seth

There's a way to not have all Amex cards count toward 5/24: One you have one of the Everyday cards, concentrate on business cards rather the personal cards (at least to the degree necessary to stay below 5/24). Chase can't see Amex business cards because they don't show up on your credit report (as long as your account stays "in good standing"). And Amex has business versions of many of its cards (though not the Everyday series). And you don't have to have a real business to apply for a business card.

Thanks for the responses guys!!!
If there are more thoughts keep them coming!

Actually not.

It is about what benefit you can use, but not what benefit you can get.

Even with many different kinds of perks, bottom line - if you can't get a minimum $550 in value back, it will be a waste to keep a card that has such benefit.

Glorified, especially given the previous 100K UR offer.

Contrary to popular beliefs - card selection is a personal question. A card fitting others does not mean fitting you.

The simplest way to understand is you should never put all the eggs into a single basket. So in case, you will have others to rely on.

Yes.