Too much of Presidential $1 coins perhaps?

Yes, that's what I do. I only use the HH AMEX for eligible double point purchases and HH stays, which earn 9 pts per $ on my surpass card.

On this, I tend to agree. Given a choice between 1 SPG point or 3 HH points, I'd pick SPG for its flexibility and transferability. What it comes down to is how it is earned. Personally, for domestic purchases that do not earn bonus points, I prefer the Asiana AMEX by B of A:

https://www6.bankofamerica.com/credi...100121977EN000

In short, this card earns 2 miles / $ on all purchases, no catch, no cap, straight and simple. Plus, the card pays for up to $100 per year when you book your ticket with Asiana, a Star Alliance member and it gives you an annual 10,000 miles discount when redeeming miles. In other words, when you make award redemption, say a one-way ticket from US to say, China in First class on Asiana, the normal cost of the award is 75,000 miles (150K / 2), minus the annual 10K miles discount coupon = 65K miles. Any airport fee, taxes and surcharges, which is likely within $100 and therefore paid by B of A as a credit on your statement. With no cash outlay, this ticket is one of the few cases of "Free" award ticket. Plus, the opportunity cost of earning 65K miles is only 65K /2 = spending of $32,500 This amount would earn 32,500 SPG points and at the 1.25 transfer ratio, still falls short of the earning power of the Asiana AMEX. IMO, this card is under-rated on FT but I am not complaining, really, I prefer it that way so there is no stampede.

On this, you need to take it up with Charles Schwab and verify/confirm yourself. I am not aware of such clause, but it doesn't mean it doesn't exist. It sounds like you are running a business and many FTers are in your situation as well. I'd ask around and see how they manage. In your case, you have to consider the float and the grace periods and etc. more carefully but I assume you know that already.

re: Asiana. In addition to that being a solid card, I actually like their award chart. Doing the mileage math, a typical MCI-Europe routing would be 80k in J and 110k in F before discounts. Plus, I'm assuming I wouldn't get Starnet blocked, so that'd be LH across the pond, not UA. ^

Even though I still consider 1 SPG point worth more than 2 air miles, there comes a point at which I'm too awash in hotel points and can always use more miles. I'm half thinking about adding this card to pick up an easy *A J award before and/or after I make my HH Diamond run with the Surpass card.

Does the signup bonus ever get juicier than 5k?

Nice tip on the BD/HH bit earlier, BTW. I used to have a consistent series of one-night stays at various lower-cost HHonors properties. Wish I had 'em now...I'd love to be loading up on BD miles.

Yep, 70K in J class award to Europe is unheard of these days. Plus, don't forget SQ across the pond as well, it's much better than LH IMO. Here is another tip for you. AF's FB often runs regular promotional discounts on their transatlantic redemption in J and Y. You can usually fly KLM from U.S. to anywhere in Europe return for only 50K miles. If so, the opportunity cost is only 40K SPG points or if you are willing to trade, you can get it down to about 32~33K SPG points on coupon connection. If so, you can do slightly better than the opportunity cost of $35K of Asiana 70K award to Europe (after 10K mileage discount). That's another option if you are currently awash in SPG points but do not have many Asiana miles. Be warned though, fuel surcharges are still very high with AF/KL.

Can't help you here, this is obviously a personal decision.

Never heard of anything better than 5K sign up bonus and frankly, it is not a consideration IMO.

The beautiful thing about the HH/BD arrangement is that you don't need those one-night stays, which can be quite a bit of a hassle. You earn 1,000 miles per night, not per stay, so long as the duration is no more than 3 nights. That translated into 9,000 miles per stay + all the HH points & bonus in the most recent Q2 promo - worked like a charm for me.