sigmazero

I'm looking at reconfiguring my credit card setup. Right now its just a standard bank-issued credit card. I think I can do better.

I was thinking of getting an Amex SPG for the rewards, and combining it with a cash back credit card that offers high cash back at the "everyday" stores (grocery stores, etc.).

What cash back credit cards would you guys and gals suggest?

Also, what do you guys think of my general credit card configuration here?

(As a side note, I carry no balance on my credit cards, and have no debt, so those considerations shouldn't be an issue.)

Thanks.

awake

AMEX SPG is a good choice. It is very flexible for reward redemption. You cannot go wrong (unless you intend to fly on an airline that does not accept transfers OR does not accept transfers at 1 mile per SPG point...check the list on www.spg.com).

Cash back cards are a good choice. Given that most "points/miles" cards offer only 1 pt per $, I think that cash back is becoming even more interesting.

For cash back, consider:

Chase Freedom Visa Signature or World MC - 3% on everyday spending
Visit www.visasignature.com

AMEX Blue - A good choice for higher spenders

sigmazero

Well, I was doing some more research, and got myself a bit confused.

What's the better deal: SPG Amex, Preferred Rewards Gold Amex, or Rewards Plus Amex?

Then I was thinking, the cash back card would be used pretty much only where it would earn more than 1% back; and so it seems like Amex Blue Cash is the best in that category.

But then I don't want to carry just 2 Amex cards, because Amex isn't taken everywhere; so I'd want a Visa or Mastercard as well as a backup; and so I was thinking maybe of the Merrill+, because while I wouldn't jump up tiers in the near future, I probably will later on...

I'm not so sure about Chase; I heard they had really bad customer service.

So, the "What do you think of my (revised) plan?" still stands, and I am still on the lookout for a good cash back card, and now I need to know which of the Amex rewards cards are best...

Thoughts?

awake

If you move away from a cash card as your backup to the SPG AMEX, then following are good Visa/MC choices:

a. Merrill+ - Has excellent benefits if you spend $$. However, the reward yield is a bit lower than some other cards. (I personally carry this card. I like it.)

b. Marriott Visa Reward Signature - If you travel alot, this card gives 15 nights credit toward Marrioot status and a free night each year. Its reward yield is a bit low.

c. Citi Professional MasterCard - 3 pts per $ (or 3% cash back...there are two different versions of this card) on Restaurant/Rental Car/Gas charges. There is a secret 15k point bonus available. This card offers primary rental car insurance and a basic business concierge.

Personally, I use the following cards:

1. Delta Platinum AMEX up to $50k in spending (I travel on DL, so the Qualifying Miles are good for me. For many people SPG AMEX is a better choice)

2. Merrill+ Visa up to $20k in spending

Beyond that spending I use: Citi Professional MC and Citi Chairman AMEX.

Oh, I almost forgot. I would pick SPG AMEX over the Gold Card. You save on the annual fee, generally earn more points per $ (using the SPG 5k bonus on transfers), and your points are more flexible.

sigmazero

I like the Citi Professional MC that you mentioned. I didn't know it came in a Cash Back version.

Any advice on the SPG vs Gold cards?

Besides that, I have one last question...should I apply for all these cards at once, or try to space them out?

awake

I would go with the SPG card. Its hard to provide advice on when to apply. Try www.fatwallet.com and look at the finance forum. If you have well established credit and a high credit score it may not be a big deal to apply at one time.

pgary

Take a look at the cash back cards I list in that section of the Free Cards page of the Credit Card section of my website below.

I value miles at about 1.6 cents/mile.

1. I use my Pentagon Credit Union Visa for gasoline at 5% back. I also use it for transactions in foreign currency for 1.25% cash back. They charge only 1% for the currency conversion, so I make a .25% profit on these transactions.
2. I use my Citi Platinum Mastercard for 2% cash back on purchases at supermarkets, drugstores, convenience stores, and utilities, including cable, but excluding telephone.
3. I use my Starwood American Express everywhere else that accepts American Express cards, for 25,000 miles for 20,000 points.
4. I use whatever free airline card I have for everything else. Currently that is a United Airlines card.

I have in hand an ad for a 1.5% cash back card from Fidelity. I have not looked at it yet. Will do so when I have an even multiple of 20,000 points at Starwood, and have the miles I need for two business class trips on United.

Pizzaman

SPG continues to offer the most flexibility for awards, both hotel and airline. They have some great properties, and the 25% bonus for transfers to airlines is also a cool benefit. Nights and flights is a great redemption promo from hotel rooms and airline miles combined.