Since I offer advice on earning frequent flyer miles, often with credit cards and sometimes other financial techniques, I think it’s only fair to share my own strategies.
And the best window into what I do is to share with you my wallet. Because that will shows you what I carry with me through my daily life, and is a great opportunity to explain my thinking about each choice I make — a choice that’s constrained by space and that reveals a lot about me.
I should say that my wallet just shows what is most important to me right now. I have cards in two other places as well — a drawer at home (cards I have but am not using currently) and then another place I keep some specialized products (e.g. cards for work, Suntrust debit card, American Express student card).
Allow me to explain why each card pictured has a slot in my wallet.
Chase Sapphire Preferred
I continue to view this as the best card for frequent flyers and also the best card for beginnings in the hobby.
The points are among the best you can earn because of their flexibility (transfers to airlines in all three alliances and more, plus hotel transfers) and you earn them quickly with a strong signup bonus (40,000 points after $3,000 spend within three months; 5,000 more for adding an authorized user and making a purchase; double points on all travel and also all dining; 7% annual bonus on points earned.
Chase Ink Plus Business Card
Ink Plus is probably my favorite card.
It’s got a fantastic bonus of 50,000 points after $5,000 spent within three months.
The points are among the best you can earn because of their flexibility (transfers to airlines in all three alliances and more, plus hotel transfers) and you earn them faster probably than with any other card with 5x at office supply stores and on telecommunications (internet, cable/satellite tv, cell phone) and 2x on gas and hotels. There’s no foreign transaction fees, either.
I’ve used a BankDirect checking account since July 2003. It earns 100 American AAdvantage miles for every $1,000 average balance each month (no 1099 at the end of the year).
They’ve added a $12 per month fee that you cannot avoid with a minimum balance and they’ve capped the earning at 5,000 miles per month. But in a low interest environment and since I wind up with big expense reimbursements sitting in a checking account until I pay off my credit card bill, it makes good sense for me.
There’s a signup bonus of up to 22,000 miles and they not only don’t charge out of network ATM fees, but also offer a rebate of fees that other banks charge you for use of their cash machines.
Security card for my office building, elevator, and suite
This one is pretty self-explanatory.
British Airways Executive Club Silver membership card
I was recently downgraded from British Airways Gold. My Silver card gets me into American Airlines lounges when flying domestically. Losing Gold means I no longer have access to American’s Flagship (first class) lounges during domestic travel.
I really only carry this to show to the TSA, and because I’m supposed to have it with me when I’m driving a rental car. Bizarrely, I’m either flying somewhere or within a mile of my home most of the time (unless I’m eating here).
Citi American AAdvantage Executive Card
I signed up for the card because of the 100,000 mile signup bonus and $200 statement credit. I’ve earned the bonus, and even met the $40,000 in spend that gets me 10,000 elite qualifying miles. It gets me access to American’s lounges, but my British Airways Silver card does too (and that gets me two chits for premium drinks or bottled waters). So it’s time to cycle this out of my wallet.
Starwood Preferred Guest American Express Business Card
Starwood points are the currency I value most (my three favorite are Chase, American Express, and Starwood points but I do think one Starpoint is worth the most). That’s because of the lucrative points-to-airline miles transfers.
I’ve had a Starwood American Express (personal card) since 2001, and it was the first card I ever recommended on this blog in 2002.
I do have both the personal and the business card open, each gives me two stays and five nights towards status and I want to be Starwood Platinum by the end of the year.
The one I carry currently is the business card because of OPEN savings, which I use primarily for domestic Hyatt stays (5% rebate).
I’m carrying the card because I plan to hit $40,000 spend on it this year. That gets me 10 nights towards requalifying for Diamond elite status (which requires 50 nights). That’s a lot of spend for just 10 nights considering that Hilton gives you their top tier at $40,000 spend. But it saves me from ever having to mattress run while I plan to earn top tier this year with both Hyatt Gold Passport and Starwood Preferred Guest.
This is a good but not great credit card. I tend not to use it for my domestic Hyatt hotel stays because small business American Express cards rebate 5% on those in addition to earning points.
The signup bonus of two nights in any Hyatt in the world is good (use the nights at the Park Hyatts in Park or Sydney, for instance) but do have to be used within a year. There’s an annual free night (up to redemption category 4) that’s worth more than the $75 annual fee. And the card has no foreign currency transaction fees.
It’s frequently possible to sign up for the card with a statement creditby walking through the process of making a reservation on the Hyatt website.
American Express Platinum Card
I used to use this card for American and US Airways lounge access, but the card lost that benefit March 22. It still has Delta lounge access but guests will come at a charge starting next month
I don’t put any spending on this card, though I love Membership Rewards points this isn’t the best Membership Rewards-earning card (both Premier Rewards Gold and Amex Everyday and Everday Preferred are better).
But I travel through Dallas a lot. This card is in my wallet primarily to get into the Centurion lounge there.
I also have it on me in case I have time to stop into an American Airlines lounge to pick up a free lounge pass that I can give away.
Between the frequency with which I use their expanding lounge network, National Car Rental status (I may not requalify), and the annual fee credit the math works out well for me.
Here’s a more extensive review of the card. Here are the latest benefits that they’re adding starting in June.
(Note that two cards in this post – Chase Sapphire Preferred and Chase Ink Plus Business Card – offer credit to me if you’re approved using my links. I appreciate your support! The opinions, analyses, and evaluations here are mine. The content is not provided or commissioned by American Express, by Chase, by Citibank, US Bank, Bank of America, Barclays or any other company. They have not reviewed, approved or endorsed what I have to say.)
SEE ALSO: The 9 Credit Cards I Leave In My Drawer