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Here’s a window into my personal credit card strategy – and whether I’m walking the walk.
I’ve cleaned out my wallet and I’m not carrying nearly as many credit cards on a daily basis any longer. Still, my wallet is a great window in the spending choices I make every day. What gets a wallet slot, and what cards I have but keep in a drawer, go a long way towards illustrating how I put my mileage and spending strategies into practice. Sharing this also adds a bit to my transparency to my credit card strategy as I cover credit card rewards.
Here’s a peek into what’s really going on behind the scenes of my daily spending life.
My Wallet Credit Card Strategy
I don’t have any cards I’m trying to meet minimum spend on at the moment, so the cards I’m carrying are meant to (1) maximize return on my spending and (2) be available to swipe or show to obtain benefits.
What do I spend money on? Airfare, hotels, restaurants and groceries. I have other spending items, but those are mostly online purchases or recurring ‘set it and forget it’ expenses that don’t require the most rewarding card to be in my wallet (we’ll get to cards I have in a drawer next).
- The American Express® Gold Card is really underappreciated. It’s probably the best Membership Rewards-earning card overall: Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year; Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year. Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com. This is my favorite card for restaurant spend (though haven’t been using it that way lately) and for grocery spend – my wife and I can maximize spending in that category.
- I have been putting restaurant spend on my Bilt Mastercard, though, because even though its 3x on dining is less than the 4x I could be earning with the Amex Gold this helps me to diversity my points, since I’m working with a seven figure Chase and Amex balances already.
Bilt transfers to both Alaska Airlines Mileage Plan and United MileagePlus, and also has programs including Aeroplan, Hyatt and Turkish – so they’re valuable points – and this diversification nis why it makes sense for me even though I am not a renter and can’t take advantage of the truly unique selling proposition for the card which is earning up to 100,000 points per year paying rent at no fee (something that would cost $2850 per year using a service like Plastiq.com). Of course you must make a minimum of 5 purchases per month to earn points.
- A majority of my hotel nights are with Hyatt and so I carry the The World Of Hyatt Credit Card which earns 4x on Hyatt stays. I love that every $5000 spend on the card earns two elite nights, and that the card not only comes with an annual category 1-4 free night but a second one after $15,000 spend each year. That makes $15,000 of spending on the card super rewarding (free night and 6 elite nights) especially when the spending is in bonus categories. It’s also unique in bonusing fitness and gym memberships.
- For airfare I find The Platinum Card® from American Express to be a no-brainer, 5 points per dollar for flights booked directly with airlines or with American Express Travel (up to $500,000 on these purchases per calendar year).
I also carry the card for access to American Express Centurion airport lounges; access to Delta lounges when flying Delta same-day, and Plaza Premium and Escape lounges. The card gives me Hilton Honors Gold (I don’t use the Marriott Gold from the card because I’m currently Marriott Titanium).
And I make the economics of the card work – this is a $695 annual fee card (see rates and fees) – because I make real use of the statement credit benefits it comes with to cover expenses I’d really otherwise incur.
I’ve been using the up to $200 airline fee credit with Southwest Airlines quite successfully; the up to $240 Digital Entertainment Credit has been covering real out of pocket expenses; $200 Uber Cash spread out through the year is something I’d spend anyway (you will need to pay with the card to use the credits); The CLEAR® Credit has covered me and my wife in the past; $50 Saks credit semi-annually buys my toiletries. That doesn’t even count the up to $200 Fine Hotels & Resorts credit offer or up to $155 Walmart+ Credit, which have terms and details to look at.
- For unbonused spend I’m using my Capital One Venture X Rewards Credit Card which earns 10 Miles per dollar on hotels and rental cars booked through Capital One Travel, 5 Miles per dollar on flights booked through Capital One Travel, plus unlimited 2X miles on all other purchases (Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more-you can even transfer your miles to your choice of 15+ travel loyalty programs.) (See rates and fees)
It’s crucial in my view never to earn just one point per dollar on spend. I think of the Citi Double Cash Card‘s no annual fee and 2% cash back as the opportunity cost of spending – if you earn just one point per dollar then you’re effectively buying that point for 2 cents and no mileage currency is worth two cents in my opinion. But 2 Capital One miles? I value each one at 1.6 cents, so I consider the lowest rebate eon my spending I achieve to be 3.2%.
- Finally I’m also carrying a Priority Pass card, my Texas Drivers License, and my office swipe card even though I don’t travel to my office in DC twice a month anymore.
My Desk Drawer Credit Card Strategy
These are cards I have that I don’t use often, but have a strategic purpose, or cards I may have already gotten value out of but don’t plan on keeping.
- My Ink Business Cash® Credit Card is a long-term keeper but not one I pull out regularly.
This no annual fee card has an offer to earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening
Think of that as up to 75,000 points, which – if you have an Ultimate Rewards card whose points transfer to airline miles and hotel points – can be combined into one of Chase’s annual fee Ultimate Rewards products, and then transferred to a variety of loyalty program partners.
Ongoing earn includes 5% cash back (again, potentially transferable as 5 points per dollar) on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. This covers my internet and cell phone spend which is on auto-pay. And, of course, I’ll use it at Staples and Office Depot.
- This one will surprise some folks but I have the Miami Marlins Credit Card, it has no annual fee and offers great baseball experiences inexpensively. I wanted a Cardless card to directly experience their product, and I pulled it out over the holidays when they ran a 10,000 point promotion for $1000 card spend.
- AAdvantage® Aviator® Silver Mastercard if the loyalty points threshold bonuses at $20,000; $40,000; and $50,000 spend levels, I do use its annual $99 companion ticket (for two companions) and the one which comes after $20,000 spend on the card as well.
- Citi® / AAdvantage® Executive World Elite Mastercard for Admirals Club membership, and it comes with Loyalty Point bonuses on American without actually spending on the card.
What I Need To Do Next
There’s not a lot on my long-term credit card strategy want list at the moment. I have myself well-covered both in terms of maximizing points-earning for the kind of spend that I do and in terms of the benefits that I value.
If I were under 5/24 I’d look to the Aeroplan® Credit Card though I don’t really need Star Alliance Gold status from spend and don’t fly Air Canada enough to take advantage of Aeroplan’s status.
I can even get myself under 5/24 while getting new small business cards from American Express and Citibank.
My credit card strategy also involves waiting for the next big thing!
For rates and fees of the American Express® Gold Card, click here.
For rates and fees of The Platinum Card® from American Express, click here.
Gary, assuming you are not bound to Costco, which card do you use for gas?
You said “; The CLEAR® Credit [AmEx] covers me and my wife”. How do you get the credit to cover your wife? I’m getting the base credit for myself, but have to pay for my wife.. Thanks.
Is the Marlins credit card still available? I just checked the Cardless webs and it doesn’t show.
You stated you use the The World Of Hyatt Credit Card for fitness and gym memberships. Anything else besides those and Hyatt reservations? It would seem to be hard to $15,000 on spend in just that. I read that you put everything else on Capital One (which I also do) because of the 2X.
Is this article revised through the year – or just a replay of the same thing written a few months back? I could swear I’ve seen at least 3x. If it’s modified, it would be helpful to note what has changed. at the beginning. Otherwise it’s a waste of everyone’s time.
If you live in Northern Virginia and don’t fly from BWI is any Southwest card is beneficial?
@Shazia Ljaz – they have a presence at DCA, in fact they have the only legally permitted non-stop DCA – Austin, so I find them very useful (since I live in Austin and have an office in Northern Virginia)
Why do you keep republishing this with a different date. It is massively annoying.
What do the fees on those cards total to on an annual basis?
Or do you think your readers are rubes, as you called the United Airlines union for not being totally transparent?
You can put the Priority Pass digitally on your phone in your apple wallet to save a bit of space
“I don’t have any cards I’m trying to meet minimum spend on at the moment”
You lost me right there.
Isn’t that $2-3,000 in annual fees????
No way you come out ahead.
With Hyatt I also get 2X at Golf and tennis clubs. Nobody ever mentions this!
Surprised dont have Citi Premier/Double Cash cards as well as premium amex hotel cards Marriott Bonvoy Brilliant or Hilton Aspire. And did you not use the $200 FHR benefit?
I keep an active spreadsheet to make sure all such benefits are used across my cards (Amex Plat, Amex Gold, Amex Bonvoy Brilliant, Amex Bonvoy Business, Amex Aspire, Citi Premier, Citi DC, Citi Costco, Barclays Red Aviator, and Cap1 Venture X). I’ve been blacklisted from any cards by Chase for last 6 years due to excessive churn, manufactured spend activity!
“and for grocery spend – my wife and I can maximize spending in that category.”
By “maximize”, do you mean you’re spending $25,000 per year at grocery stores? For two adults and one child?
Gary, I’ll buy you a new wallet, this one has been featured in the last few articles you wrote on this topic and looks beat up 🙂 Let me know where I can send it to you.
> I don’t really need Star Alliance Gold status from spend
How do you get Star Alliance Gold from spend? I thought you could only get silver or a bump to the next level.
One tip on offer… one can add the Priority Pass card to one’s mobile phone’s wallet so there isn’t a need to carry the physical card around. Although there’s little argument that Gary’s card choices are individually strong, each person will need a mix that best matches personal spending patterns, perk usage, and award redemption priorities. Annual fees can also add up and cut into the value unless the card benefits are fully utilized. Gary, let’s see what card choice changes you make for 2025.
Even Titaniums benefit from having the Ritz-Carlton card, which you should get. The 85K cert got me an otherwise $1,975 night at the Maui Ritz-Carlton over Christmas and an upgrade. That alone more than justifies the $450 annual fee. And the R-C gets Sapphire Lounge unlimited access, along with Priority Pass restaurants, Be Relax, and Minute Suites.
Kind of surprised not to see many biz cards in your wallet which have the advantage of not counting against Chase 5/24 and reducing utilization on your personal credit score.
Personally I like to carry the Cap1 Spark Miles with the same 2/$1 on everyday spend but $0 AF (this one unfortunately does report to CRAs). And Amex Biz Blue+ with the same 2/$1 on everyday spend and no AF. Also Citi Premier which earns 3/$1 on grocery & dining spend (inferior to Amex Gold but lower AF and adds diversification). And finally my JP Morgan Reserve which I use for almost all airline tix due to the excellent travel insurance.
I didn’t know people still subscribe to the NY Times but I guess if you work there it might make sense.
Not an advertisement or anything here, but I have Verizon and use the Verizon Visa card for gas and groceries. It’s 4% cash on those categories with no limit. It’s 3% for restaurants so it’s my sometimes card for that. The ‘verizon dollars’ can be used for statement credits or used for gift cards and travel purchases. It’s only available to Verizon customers. I switched after I saw their globally fully unlimited (including voice and data worldwide) service. For an international traveler no charge for any roaming is incredible, particularly because voice calls are included.
Again, no advertisement or anything implied here. Just sharing my strategy. It’s got a so-so portal, but a good card overall with no annual fee. It doesn’t work for everyone, but I’ve gotten use and savings out of it.
My two cents.
I can’t find a way to sign up for the Marlins card – those ‘priceless’ experiences are the best part of rewards programs.
The Chase Sapphire is noticeably absent. I have had the card for over a decade (mostly CSP; switched to CSR for a few years in the middle) and am wondering why I still have the card… Venture X made it obsolete.
Chase has a problem on its hands, and if they don’t answer to the Venture X, they’re going to get left behind.
Hi Gary,
When you bump these legacy posts, it would be helpful to regular readers if you’d highlight any updates or additions at the top ,like the folks at FM do (to cite one example).
AMEX cards are coupon books with diminishing benefits. Will be reviewing their role in my credit portfolio over this year. Downgraded two cards this year already.
I carry platinum AMEX for Centurion Lounge. I travel every two weeks and there are lounges in my hub city and destination.
I carry Silver Barclays Aviator for purchases on AA
I carry Chase Hyatt, Amex Hilton (will review that strategy since free night certs are gone) and Amex Marriott. All for targeted hotel stays
Chase Sapphire and Capital One X
Be a modern man and put all your credit cards in your digital wallet. You can dispose of your wallet if you keep your license and money on the back of your phone.
Gary, I second the comment from Court. And I’ll add to “annoying” that it give a false impression of new content and somewhat disingenuous.
“Court says:
October 4, 2023 at 3:26 pm
Why do you keep republishing this with a different date. It is massively annoying.”
You should update that Bilt no longer transfers to AA, but to AS.
Recycled post with same active links – Gary this is click bait
why dont you preface it with updated on each time, so we can see when the last post was
e.g.
updated June 1 2024
Updated May 1 2024
etc at the top
> If I were under 5/24 I’d look to the Aeroplan® Credit Card though t I don’t really need Star Alliance > Gold status from spend and don’t fly Air Canada enough to take advantage of Aeroplan’s status.
Gary, how do you get Star Alliance gold from that card via spend? I thought you could only get to 35k without flying AC a lot.
Gary
This seems like a cut and paste. I remember reading this earlier this year but you never bothered to update the bilt card section. They no longer transfer to AA but have added Alaska
I keep my Platinum Card and my Priority Pass card in the personal item I always take with me when flying, rather than in my wallet. Sometimes my Freedom card is in my wallet depending on the quarterly categories. I’m surprised a debit card isn’t on your list since cash is still useful once and awhile.
One thing that’s worth calling out is that while the Platinum Card’s 5x on airfare is nice, you have to book round-trip tickets to be covered by AmEx’s travel protections. For one-way trips it’s better to use a card from another issuer – IIRC Chase has the best coverage, but I think Citi is okay too.
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@ted poco “Be a modern man and put all your credit cards in your digital wallet.” Every card I have is in my phone, but I’ve always needed the card to check in to hotels. Many bars and restaurants still aren’t set up for tap to pay.
I wish I could put all my cards into a digital wallet. These days you cant as some places do not support Apple pay.
Wallet: AMEX Gold (4x restaurants, 4x groceries); Citi Prestige (5x airfare, 5x restaurants); Citi Strada (3x gas; 3x EV charging; 10x hotels IF thru Citi Travel Portal); Citi Double Cash (2x on non-bonus spend); Bank ATM card.
Drawer: Chase Sapphire (formerly used a lot, but now for primary insurance coverage on car rentals); Chase British Airways (got large sign-up bonus; put some regular once-a-month automatic charges on it to keep active, and keep Avios from expiring); BofA Alaska Airlines (used for *some* flights on AS, but primarily for Companion Pass and free bags); Citi AA Exec (lounge access to AA, AS, and others; free bags; keep points from expiring); Barclay’s AA Aviator Red (I haven’t used this since earning the bonus; might close, but like the high credit limit); Amex Hilton Aspire (Hilton hotel stays, Diamond status, resort credits); Amex SPG/Marriott (Marriott hotel stays, free night);
Unused: Chase Marriott (kept for annual free night); Barclay’s Arrival+; Discover; Citi AA MileUp, BofA Cash Rewards (product change when BofA lost the Virgin Atlantic co-branded cc).