Monday, May 28, 2007
After doing some more research and getting emails from friends, here's an update on which credit cards give you the best rewards:
If you want cash back:
Gary points out that the Chase Perfect card gives you 1% back and it's credited to your statement every month. Doesn't get much easier than that
Nick Hsu pointed me to the Costco True Earnings card which is great if you already have a Costco membership. You get 3% back on food, 2% on travel, and 1% on everything else. But you must pick up the check once a year at Costco.
I still think earning miles on a frequent flier program are a better way to go (for international tickets). For that I have decided the best card is the Knot card from American Express. If you spend $15k per calendar year, you get 10k bonus miles. So that's 1.66 miles per dollar.
I'm going to switch to the Knot card starting in 2008 since I don't think I will spend $15k this year. For now I've applied for the Amex Platinum Delta card which will give me 20k bonus miles and push me into medallion status for 2007/2008! I also got the Starwoods Preferred Guest Card which has no fee for the first year and gives 1.25 miles per $ (and also 10k for signing up).
There are other amex cards with more rewards but they charge an annual fee. I don't believe in paying a fee for any credit card, and so I think the Knot card is the best card.
If you want cash back:
Gary points out that the Chase Perfect card gives you 1% back and it's credited to your statement every month. Doesn't get much easier than that
Nick Hsu pointed me to the Costco True Earnings card which is great if you already have a Costco membership. You get 3% back on food, 2% on travel, and 1% on everything else. But you must pick up the check once a year at Costco.
I still think earning miles on a frequent flier program are a better way to go (for international tickets). For that I have decided the best card is the Knot card from American Express. If you spend $15k per calendar year, you get 10k bonus miles. So that's 1.66 miles per dollar.
I'm going to switch to the Knot card starting in 2008 since I don't think I will spend $15k this year. For now I've applied for the Amex Platinum Delta card which will give me 20k bonus miles and push me into medallion status for 2007/2008! I also got the Starwoods Preferred Guest Card which has no fee for the first year and gives 1.25 miles per $ (and also 10k for signing up).
There are other amex cards with more rewards but they charge an annual fee. I don't believe in paying a fee for any credit card, and so I think the Knot card is the best card.