My Best Credit Card Wallet
Any time is a great time to earn points and miles, but I like to focus even more on it in the winter when I’m not traveling as much. Indeed, we just finished up a credit card application spree to earn points at high rates. I’m not talking about those cards today, though. I’m also not discussing an everyday credit card for spend outside of bonus categories. I don’t use one, and I have my reasons. But I’m carrying and using a particular combination of cards right now for specific, sometimes obscure, reasons. Today, I’ll describe those cards and why I’m using them. Let’s dive in!
Citi Premier
I and many others have repetitively preached the good word on the Premier. In my view, it has the best collection of bonus earning in generous categories – 3x at grocery stores, restaurants, gas stations, hotels, and airfare. But we’re maxing out a Premier account for another reason. Almost a year ago, we received a Citi checking account bonus which provides 25% more ThankYou points on all Premier account spend for the subsequent year. That year is almost done, and I’m doing everything I can to get the most out of this bonus. In particular, that’s 3.75x at grocery stores. I’m easily turning that into 7.5x Choice points, 1.875x Amtrak points, and, of course, 3.75% cash back.
Amex Blue Cash Preferred
The Blue Cash Preferred provides 6% cash back on the first $6k in supermarket spend annually. I described here how I want to finish off this spend ASAP in 2022 and close the account after the second year annual fee hits. Blue Cash Preferred cardmembers can only redeem cash back via statement credit, though. In my experience, it takes a bit longer than necessary to finish off and quickly realize the rewards. What should be a quick project turns into one taking multiple statement cycles (for me, at least). I’ll be done soon.
Banana Republic Visa
Probably my favorite niche card for the past few years, the Banana Republic Visa continues to provide outstanding rewards via periodic spending bonus offers. Currently, I’m earning 5x at grocery stores, wholesale clubs, gas stations, and restaurants. Even better, this current offer lasts for the whole first quarter of 2022. Points are worth 1 cent each, and (of course) are only redeemable for Banana Republic, Gap, Old Navy, and Athleta purchases. The card’s not for everybody, but for our family of four, it definitely is.
Chase Sapphire Reserve
I’m currently using this card for dining out for two stackable reasons. First, it earns 3x Ultimate Rewards points on these purchases, which translates to 4.5% cash back via Chase’s Pay Yourself Back feature. Second, dining is currently a Pay Yourself Back-eligible category for redemption. I’m simultaneously earning and enabling a high rate redemption. While 4x on the Amex Gold is great, I love this efficiency from the Reserve.
Air France World Elite Mastercard
I’ll be holding onto the Air France card for the foreseeable future. The 5k mile anniversary bonus makes swallowing the $89 annual fee a bit easier. But to receive that in future years, I must annually spend a minimum of $50 on the card. I’m getting that out of the way currently so I don’t forget about it later, and I’m earning 1.5x while doing so.
Rakuten Visa
Since the ugly death of high scale Amex Membership Rewards earning via Gift Card Mall and Giftcards.com, I’ve primarily used this card online for purchases via the Rakuten portal. More recently, I’ve started using the card for dining and in-store purchases. By linking offers to the card via the Rakuten app, I then earn the Rakuten rate plus an additional 3x Membership Rewards for using this card. Over time, the dining and store selection has improved in our region. Check your Rakuten app for what’s possible in your area.
IHG Select Visa
I haven’t spent much, if any at all, on this card in the past few years. We’ve kept ours and paid the $49 annual fees for the annual free night certificates. Thanks to the current Chase spend offer, I’m earning 5x points on all Amazon, grocery store, and restaurant purchases through the end of March. My IHG account balance is dwindling, so earning 5x right now is nice. A Premier upgrade is probably in my future, though.
Conclusion
That is the best credit card combination I have currently. This lineup will turn over in a few months, and that’s probably a good thing. That will mean other cards are giving me solid reasons to spend there. Curves are constantly thrown at us in this hobby, and I wouldn’t have it any other way. Why? Because, on a whole, I feel like the positives outweigh the negatives. What are the best credit cards for you to carry right now and why?
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Synchrony Bank, issuer of the Rakuten Card, has the WORST web portal in the known universe. Customer service is terrible. When I did a charge on Rakuten, it did an authorization hold. When the charge actually posted, it did not release the authorization hold. My credit line was frozen. Week after week, the authorization hold would renew. Customer service — when I could reach them — said they couldn’t do anything. Three months later, the authorization hold finally cleared. Then, it happened again. In frustration, I closed the card.
Which merchants were placing those auth holds?
Reno Joe,
Wow – I’m sorry this happened to you! I haven’t had that experience with Synchrony, but I’m not surprised to hear about it.