Difference between revisions of "Reciprocal museum programs"

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{{DISPLAYTITLE:Temp - {{Title|Chase 5/24}} (2018)}}
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{{DISPLAYTITLE: Temp - {{Title|premium cards}} (2018)}}
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{{seo|description=Optimize your credit card strategy and signup bonuses based on the Chase 5/24 rule.}}
 
 
{{Page|article|Card Strategies}}  
 
{{Page|article|Card Strategies}}  
  
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{{Image|Chase524.jpg|full}}  
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{{Image|PremiumCards.png|420}}  
  
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Chase issues some of the the best travel and reward credit cards. However, they have an approval policy that can make it hard to get many of these cards.  
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Many credit card companies offer “premium” reward cards that have high annual fees, but also provide valuable benefits, such as free airport lounge access. The most famous of these are the Amex Platinum and Chase Sapphire Reserve cards, but there are also several lessor-known premium cards available from other banks.
  
 
<blockquote>
 
<blockquote>
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Chase won't approve your credit card application, regardless of your credit score or income, if you’ve already signed up for 5 new credit cards, during the last 24 months.
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These premium cards can be very valuable. At a minimum, you’ll want to eventually sign up for all these cards, to collect their extremely lucrative signup bonuses. By spreading these applications out over time, you’ll be able to freely access airport lounges for years to come. And, depending on your travel patterns, it can be worthwhile to make one or more of these cards part of your “permanent” credit card collection.  
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</blockquote>
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</blockquote>  
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They don’t just count cards you received from Chase. They count all the (personal) cards you’ve received from any credit card company, and even include cards for which you were simply added as an authorized user. This is widely referred to as the Chase “5/24 rule".
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{{TOC}}
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*[[#What all the premium cards have in common|What all the premium cards have in common]]
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*[[#You should (eventually) sign up for every premium credit card, to collect their signup bonus bonus|Collecting every premium card's signup bonus]]
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*[[#Keeping a card for its unique benefits|Keeping a card for its unique benefits]]
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*[[#Obtaining continuous airport lounge access|Obtaining continuous airport lounge access]]
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*[[#Holding onto a premium card for travel and restaurant spending|Holding onto a premium card for travel and restaurant spending]]
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*[[#Side-by-side comparison|Side-by-side comparison]]
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{{/TOC}}
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{{Main|article}}
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=== What all the premium cards have in common ===
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While each premium card has valuable unique benefits, they also share some general features.
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<ul class="bulletlist">
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<li>'''Airport lounge access'''. Each card provides free access to over 1,000 airport lounges through the Priority Pass airport lounge program. You (and some number of additional traveling companions) can freely access airport lounges located all around the world. They aren’t the fanciest lounges around, and there may not be one in the terminal you are using for your flight, but you should still have plenty of opportunities to take advantage of this benefit. {{Link|lounge access}}.</li>
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{{ImageX|AirportLounge1.jpg}}
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The Amex Platinum card provides access to some additional lounges, besides the ones that belong to Priority Pass. For example, you get access to Amex’s own collection of Centurion lounges, which are located at a handful of locations around the world, plus access to Delta’s lounges when flying Delta.
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<li>'''Extremely valuable signup bonuses'''. All the premium cards have excellent signup bonuses—typically worth anywhere from $600, to more than $2,000, depending on current promotions, and the way you choose to use the points. Because of the signup bonuses, it is worth signing up fro all of these cards, even if you aren’t interested in holding onto them for the long run.</li>
  
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If you are following our advice, you are about to start applying for a set of new credit cards—to take advantage of their travel benefits, signup bonuses, and/or reward-earning rates. Once you hit the 5 card limit, you won’t be able to be approved for any of the Chase cards that are affected by the “5/24” rule.
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<li>'''Some sort of credit that reduces the amount of money it costs each year to have the card'''. Every premium reward card comes with a “credit”, which rebates some of the travel charges you put on the card. Except for the Ritz Carlton card, these credits are automatic. For example, the first $300 you spend on travel with your Sapphire Reserve card every year is automatically subtracted from your credit card bill, without having to take any additional action. You pay $450, but you get back $300 in free travel.</li>
  
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<blockquote>
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With some cards, it is trivial to take advantage of their travel credit. For example, everyone who is reading this is likely to spend at least $300 on travel. As long as you use your Sapphire Reserve card to pay for that travel, you’ll wind up earning the credit. With other cards, it is considerably harder. The $200 credit from the Amex Platinum card only pays for incidental expenses, like checked bag fees and inflight food and beverages, on a single airline (that you have to choose at the beginning of the year). There is a good chance that you won’t have a natural opportunity to take full advantage of this credit. Although, there are ways to maximize the Amex credit using airline gift cards. {{Link|incidental credits}}.
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As a result, we recommend that everyone sign up for these Chase cards first, and only after hitting the limit, continue on to other cards.
 
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</blockquote>
 
  
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<li>'''Global Entry rebate'''. Each high-end card (and some lower-end cards) will also pay up to $100 for your Global Entry / TSA PreCheck application fee. Since, you only need to pay these fees once every 5 years, each card’s credit can only be used once every four to five years. If you need to pay fees for family members, you may need to take advantage of the TSA fee credit from multiple cards. The Hilton Aspire cards is the only premium card that doesn't offer a TSA credit. </li>
  
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{{TOC}}
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{{ImageX|TSAPre.jpg}}
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Jump to:
 
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*[[#General approach to the Chase 5/24 rule|General approach]]
 
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*[[#1. Apply for any affected Chase 5/24 BUSINESS cards (if applicable)|1. Get as many Chase Business cards as you can]].
 
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*[[#2. Prioritize getting any “critical” cards you can't get later|2. Get the critical Chase personal cards]]
 
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*[[#3. Use any remaining slots for the affected Chase cards with the highest signup bonuses|3. Collect extra Chase 5/24 signup bonuses]]
 
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*[[#4. After you've hit the 5/24 limit, fill out the rest of your core credit card collection|4. Fill out the rest of your core credit card collection]]
 
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*[[#5. Finally, collect the best remaining “sign-up” bonuses|5. Collect the best remaining signup bonuses]]
 
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*[[#Strategies to continue qualifying for the Southwest Companion Pass|Strategies to continue qualifying for the Southwest Companion Pass]]
 
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*[[#Possibilities for bypassing the rule|Possibilities for bypassing the rule]]
 
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*[[#Advanced 5/24 strategies|Advanced 5/24 strategies]]
 
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{{/TOC}}
 
  
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{{Main|article}}
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<li>'''Some sort of elite car rental status'''. Most of the high-end reward cards entitle you to elite status with a few car rental companies. While this is nice to have, it isn’t much of a reason to go out and get the cards. Elite car rental status usually just amounts to a one-car class upgrade, and some extra bonus points from the rental company’s reward program.</li>
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=== General approach to the Chase 5/24 rule ===
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</ul>
  
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The number of new credit cards you've received in the past two years determines how many "slots" you still have left to get cards that are affected by the Chase 5/24 rule. For example, if you have previously received 2 new cards, you'll have 3 slots left.
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=== You should (eventually) sign up for every premium credit card, to collect their signup bonus bonus ===
  
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Your individual circumstances will control exactly which cards you should get to fill these slots. But, there are some general principles that most people should follow.  
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The short answer to which premium card you should sign up for is “all of them”.  
  
 
<ul class="bulletlist">
 
<ul class="bulletlist">
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<li>'''If you really want any of the affected Chase 5/24 cards, you are going to need to get them, before you hit the 5 card limit'''. Even if you not planning to collect signup bonuses, there is a good chance that you'll wind up hitting the 5/24 limit as you build out your core credit card collection. Once you do, it may be a few years before you will be able to get any of the affected Chase cards. If you are planning on collecting signup bonuses, it could be a much longer time, before you're eligible again.</li>
 
  
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<li>'''Any other personal credit card you get, before you hit the limit, blocks your ability to get one of the affected Chase cards'''. If you have room for four more cards, and you sign up for a card from another bank (or one of the unaffected Chase cards), you'll have one less slot available for getting a Chase 5/24 card. Because Chase has so many good cards affected by the rule, you'll miss out on getting a card with a lucrative signup bonus, and/or with valuable travel or reward benefits. In contrast, if you get the Chase cards first, you can usually get the other cards later.</li>  
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<li>'''All the premium cards have generous signup offers'''. For example, a typical signup offer for the Amex Platinum cards ranges from 60,000 to 100,000 Membership Reward points, valued at {{Value|MR|60000}} to {{Value|MR|100000}}. If you highly value premium-cabin frequent flyer awards, the signup bonuses are even more valuable.</li>  
  
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<li>'''There are a few non-Chase cards that you may want, that you will need to get right away'''. For example, the U.S. Bank Altitude Reserve provides a fantastic reward rate on many purchases. But, it can be hard to get approved, if you have had too many recent credit inquiries or new cards. If you want it, you can't necessarily wait till after you fill up all your Chase 5/24 slots. The important cards are listed below.</li>  
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<li>'''Annual fees are high, but they can be offset by travel credits'''. For example, the Sapphire Reserve has a $450 annual fee. But, it comes with an automatic $300 travel credit. So, while you need to pay the $450 annual fee to earn the signup bonus, you’ll get back $300 in free travel, dropping your effective out of pocket expense to $150.</li>  
  
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<li>'''If you don't want to wait to take advantage of a particular credit card, you can consider getting it earlier'''. Ideally, you would wait to after you hit the Chase 5/24 limit, so you can maximize the number of Chase 5/24 cards that you can get, and not "waste" a slot. But, it will take some time before you are finished filling your slots (especially if you are getting business cards as well). You may not want to wait to get a card that has a valuable benefit or bonus. </li>
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<li>'''In some cases, you can take advantage of the travel credit twice in your initial year'''. The Amex Platinum, Citi Prestige, and Ritz Carlton cards allow you to earn the travel credit each “calendar” year. The CNB Infinite card allows you to earn the travel credit each calendar year, and offers separate credits for each authorized cardholder.</li>  
  
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For example, you may want to get the Citi Prestige card (for its valuable 4th night free benefit), the Alaska Airlines card (for its companion certificate and checked bag benefit), or the Hilton Aspire card (for its free night certificate), so you can take advantage of their benefits for an upcoming trip; or you may want to take advantage of a particularly good promotional signup offer, while it is still available.  
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You can take advantage of the credit twice during your initial sign-up year. For example, if you sign up for the card in August, you can get the full credit for your travel spending between August and December, and then again for your spending between January and August. For some of these cards, you can get back more in credits, than you need to pay in annual fees—and that doesn’t even include the value of the sign-up points or ongoing benefits.
  
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<li>'''Most small business credit cards don't count against the 5-card limit'''. Of all the major banks, only Capital One will add your business cards to your personal credit report. As a result, any business cards you get from other banks won't show up when Chase is evaluating your application. You can get as many business cards as you can, even from Chase, without taking up any of your slots. And if you have kind of small business, even a side business that is not incorporated, you can get small business cards. In most cases, you don't even need to have made any money yet. {{Link|Business Cards}}.</li>  
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<li>'''You can earn the signup bonus from multiple different versions of the Amex Platinum card'''. Amex has partnered with a number of other companies, to offer slightly different versions of their Platinum cards. While you can only earn each Amex signup bonus once per lifetime, you are entitled to earn the bonus from each different version of the Platinum card.</li>  
  
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<li>'''In many cases, you can get the benefits you want from a small business version of the card'''. For example, most Airline cards come in both a personal and a business version. You can intersperse as many small business cards as you want, without using up your slots for getting other cards.</li>
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There are three personal versions of the card that are available for most readers. The regular and Ameriprise versions are available to everyone with solid credit (although the Ameriprise version usually doesn't have a signup bonus). The Schwab version is only available to people who have a Schwab account, but you can easily open a Schwab account without any fees. There is also a business version that is available to anyone who has any type of small business.  
  
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<li>'''Once you’ve hit the 5 card limit, double-check to see if you have any cards that you acquired nearly two years ago'''. If you do, you can wait a couple of months, get back under the 5 card limit, and apply for an additional affected card(s). If you want to know the exact number of newer cards you have on record, you can {{Link|Credit Score|check your credit report}}.</li>
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There are some other versions as well. The Morgan Stanley version requires a Morgan Stanley account that will either require a little effort, substantial fees, or a large amount of assets. The Goldman Sachs version is only available to existing employees or high-value customers. The Ameriprise version waives the first year’s annual fee, rather than providing a substantial signup bonus.  
 
</ul>
 
</ul>
  
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{{Box|The 5/24 Rule is Coming to More Cards}}
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=== Keeping a card for its unique benefits ===
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According to current rumors, Chase is planning to eventually apply the 5/24 rule to all of their credit cards (not just the card that are currently affected by the rule). As more cards are affected, the prioritization of which cards to get will change. We will update this guide as the list of affected cards changes.
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{{/Box}}
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'''Every premium card makes sense for the first year, due to their lucrative signup bonuses. The question is whether it make sense to make the card a more permanent part of your core credit card collection'''.
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 +
Several high-end cards have unique benefits that are potentially very valuable. Depending on your travel patterns, the unique feature of each card can be enough to warrant holding onto the card, and paying the annual fee every year.
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<ul class="bulletlist">
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<li>'''When deciding whether it is worth holding onto a premium card, you can usually ignore the Priority Pass airport lounge benefit'''. Chances are that you will already have Priority Pass access through another card. For example, if you decide to hold onto the Citi Prestige card for its 4<sup>th</sup> night free benefit, you’ll get no additional value from the Sapphire Reserve’s airport lounge access. Even if you aren’t interested in holding onto one of the other cards, you can get airport lounge access for many years, by simply spreading out your applications over time, collecting the signup bonuses, and then cancelling the cards after the first year.</li>
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<li>'''Since you will probably be signing up for these cards to collect the signup bonus, you’ll get a “free” year to decide whether the ongoing benefits are worthwhile'''. Don’t worry to much about evaluating whether you’ll get enough value from the card’s benefits to make it worthwhile to continue to pay the annual fee. When you sign up to collect the bonus, you’ll have the card for a year, and will have plenty of opportunity to evaluate the ongoing benefits.</li>
 +
</ul>
  
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=== 1. Apply for any affected Chase 5/24 BUSINESS cards (if applicable) ===
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==== Citi Prestige Card ====
  
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If you are willing and able to get small business cards, you need to get any affected Chase small business cards before you hit the 5/24 limit. Even though getting these cards doesn't add to your 5/24 "count", you won't be able to get them once you hit the 5/24 limit.
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'''If you expect to stay four nights or longer at a hotel, at least two times per year, make sure to get the Citi Prestige card'''. Whenever you use this card to book a four night stay at almost any hotel, you’ll get the average cost of one night refunded to your credit card statement. As of now, you can use the benefit as many times as you want, at anything from a $70 per night roadside motel to a $800 per night ski lodge. Starting in 2019, you'll be limited to two uses per year (of your choice)
  
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For example, if you've already gotten 3 new credit cards in the last two years, you'll have 2 slots left. If you then apply for 3 small business cards, your credit report will still only show the original 3 cards, and you'll still have 2 slots. But, if you get 2 new personal cards, you'll hit the 5 card limit, and Chase will block your ability to get their affected business cards.  
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{{Image|4thNightFree.jpg}}
  
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You never know how many Chase small business card you'll be approved for, especially for a very small business. So, prioritize these cards, and get the most important ones first. '''While you can mix in some personal cards, make sure to get whichever of these cards you want, BEFORE you use up your last Chase 5/24 slot.'''
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For example, if you pay $1,200 for a four night stay at a beach resort, Citibank will give you $300 back. Later in the year, if you pay $900 for a four night stay at a downtown hotel, Citibank will give you another $225 back. Depending on your travel patterns, this is the most valuable benefit that you can get from any credit card, savings hundreds of dollars per year. {{Link|4th night free}}
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{{Card|CitiPrestige|guide}}
  
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{{List|Card}}
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The Citi Prestige card costs $450 per year, but comes with an automatic $250 airfare credit, making the effective annual fee $200. If you are a preferred Citibank customer, you save an additional $100 off the annual fee. The card is also the only credit card (other than its sibling) to give bonus points on entertainment spending.
  
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{{CardItem|SWAPremierBiz}}
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If you can use the 4<sup>th</sup> night free benefit twice per year, it is almost always worthwhile to get this card, even if you have other premium cards.
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'''If you want to get the Southwest Companion Pass, you need to prioritize signing up for the Southwest Business Card'''. Depending on your travel patterns, the Southwest Companion Pass can be the most lucrative deal in travel hacking. It allows a second person to fly for free, on every paid and every award flight on Southwest Airlines. You can use it as many times as you like. If you are a couple, with the inclination and time to frequently jet around the country, getting the pass lets you travel at essentially half-price. On the other hand, many other travelers can’t get that much value from the pass, either because they frequently fly by themselves, or don’t have an opportunity to fly frequently on Southwest airlines. {{Link|Companion Pass}}.
 
  
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The easiest way to qualify for the pass is by collecting the signup bonuses from two Southwest Airlines credit cards in the same year. Since you can only collect the signup bonus from at most one of the personal versions of the cards, the way to get two signup bonuses iis to get the business card as well. You'll also still need a 5/24 slot to use for one of the personal versions of the card.
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==== Amex Platinum Card ====
  
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Signup bonuses for the Southwest cards vary, but are typically around 40-60,000 points. If you apply for two cards, and earn their signup bonuses, you’ll be near (or over) the number of points that entitles you to the pass. In the process, you'll also be earning points worth around $3,200 of Southwest Airline flights—$1,600 for you to buy tickets, with $1,600 worth of free tickets for your companion.  
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'''The Amex Platinum card can be very attractive to some people, and is much less attractive to others'''. Unfortunately, it is less straightforward to determine whether the unique benefits of the Amex Platinum card are worth the annual fee. Unlike the other cards, it has several different unique benefits, that you will need to value separately. It is also less clear how much value you can get from its travel credits.
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{{Card|platinumcard|guide}}
  
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Timing is tricky. Since the Companion Pass works for the rest of the year in which you earn it, and the entire following year, ideally you'd time your applications so that you earn your bonuses early in the year. But, you don't want to chance getting other Chase business cards first. So, you may want to bide your time getting other business cards, and filling out any additional Chase 5/24 personal slots, before you apply for the Southwest cards.  
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<ul class="bulletlist">
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<li>'''The Amex Platinum card gets you into more Airport Lounges than the other cards'''. The Amex card comes with a Priority Pass membership, but also provides access to Amex’s new Centurion lounges, to Delta lounges (when flying Delta), and to a small set of additional lounges. That makes it particularly valuable if you live in a Delta hub, or a city with a Centurion lounge. {{Link|lounge access}}.</li>
  
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{{CardItem|InkPreferred}}
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Just be aware that, unlike most of the other cards, you are limited to 2 free guests when you visit Priority Pass lounges (and when you are visiting one of their own Centurion lounges); and only the cardholders receive free access to Delta lounges. So, if you frequently travel with a family, and don’t pay the $175 additional fee to add authorized cardholders, the Platinum card’s lounge benefit can be less valuable than the lounge benefit from other cards.
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'''Regardless of which Ink small business card is most interesting, most people should prioritize getting the Ink Preferred card first'''. The Ink Preferred's standard bonus is 80,000 Ultimate Reward points, but the standard bonuses for the other cards is 50,000 points. And, with the Ink Preferred, you'll be able to immediately start transferring your points to partner programs, without worrying about whatever other Chase cards you have (the points from the Ink Cash and Ink Unlimited cards can only be redeemed for 1 cent each, unless you also have the Ink Preferred, Sapphire Preferred, or Sapphire Reserve cards).  
 
  
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At the end of the first year, you can always convert your Ink Preferred card into one of the other Ink cards, to get access to a different set of reward earning rates (and to eliminate the annual fee).  
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{{Image|CenturionLounge.jpg}}
  
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{{CardItem|InkCash}}
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<li>'''The Platinum card gives you automatic Gold status at Hilton, Marriott / Starwood hotels'''. At Hilton that’s good enough for free breakfast. While you can easily get Hilton Gold status from one of the Hilton credit cards, they have a $95 annual fee. {{Link|free breakfast}}.</li>
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'''If Chase will approve you, you should definitely get the other Ink cards as well'''. Some people won't get approved for multiple Ink cards, and some people will. If you can get approved, it is always worthwhile to get both of these cards. The signup bonuses alone are valued at {{Value|UR|50000}}, they offer valuable earning rates, they don't have annual fees, getting them won't take up any of your Chase 5/24 slots, and you won't be able to get them later.
 
  
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It doesn't much matter which one you apply for first. At the end of the first year, you can convert one to the other. They both normally have the same signup bonus. And, since you'll be focusing your spending on meeting the initial spending requirements of new cards, each of these card's reward earning rates is not that critical for some time. Getting these cards early is about the lucrative signup bonuses (valued at {{Value|UR|50000}}), and holding onto these cards for later. If Chase will let you get all three cards, even better. If you have multiple businesses, you could start out with multiple Ink Preferred cards (one with your SSN, the other with an EIN), before moving onto other Ink cards.
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{{ImageX|ContinentalBreakfast.jpg|480}}
  
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{{CardItem|UnitedBiz}}
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<li>'''The Platinum card earns the highest reward rate on airfare'''. You’ll earn a whopping 5x Membership Rewards points on your airfare purchases. For every $1,000 that you spend, you’ll earn approximately $40 in extra rewards by using the Platinum card, instead of using one of the best travel reward cards, like the Sapphire Reserve. On the other hand, the Platinum card doesn't offer the extensive set of free travel protections that you can get from the other premium cards. (The Platinum card's 5x reward rate on hotels isn’t worth much, because of the drawbacks associated with needing to purchase pre-paid rates on a 3<sup>rd</sup> party booking site.)</li>
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'''If you frequently fly United, try to get the United business card, for it's free checked bags and other benefits'''. If you fly on United a lot, and you check bags, you can save some serious cash by getting and keeping the United credit card—it lets you and a companion avoid the fee on your first checked bag.  It is also useful for people who frequently fly United, because cardholders get increased availability for both “anytime” and “saver” award redemptions. If you can get the Business version, instead of the personal version, you won't need to use one of your 5/24 slots. But, if you have the space for the personal card, or you don't need the United card, it can make sense to prioritize getting the other Ink cards first, as their signup bonuses are generally more valuable.  
 
  
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{{/List|Card}}
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If you spend a lot of money on airfare, the extra rewards you earn from the Platinum card will offset a significant portion of the card's annual fee.  
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The {{Card|MarriottBiz|only}} is not affected by the Chase 5/24 rule. You can either get it early, or you can wait to get it until after you've hit the Chase 5/24 limit.  
 
  
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{{Box|Additional Business Cards from Other Banks}}
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<li>'''“Fine Hotels & Resorts” is a great program, but you can often get similar benefits elsewhere'''. If you stay in luxury hotels, you can get great benefits with the Platinum card’s highly-touted Fine Hotel and Resorts program. But to be fair, many of the hotels in the program participate in similar programs run by the other credit card programs or luxury travel agents. On the other hand, Amex’s Fine Hotel & Resorts does more frequently provide 3<sup>rd</sup> and 4<sup>th</sup> night free offers, compared to the other programs. While the potential upside can be high, you might not get any real value from this in any given year, especially if you don’t often pay for the most expensive hotels and resorts. {{Link|luxury hotels}}.</li>
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Feel free to get additional small business credit cards at any time in the process. They won't affect your 5/24 status. And, since they aren't blocked by the Chase 5/24 limit, you can also get them later.  
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</ul>
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{{/Box}}
 
  
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=== 2. Prioritize getting any “critical” cards you can't get later ===
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The annual fee for most versions of the Platinum card is $550. Like the other high-end cards, it comes with some credits that can offset that fee, but unlike the Citi Prestige, Altitude Reserve, and Sapphire Reserve cards, it isn’t easy to get full value from these credits.
  
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The 5/24 rule doesn’t affect every Chase card. However, it affects most of their more attractive cards, specifically all their Ultimate Rewards (Sapphire, Freedom, Ink), Southwest Airlines, and United Airlines cards, and the personal version of their Marriott card. '''Most people are going to want one or more of these cards as part of their core credit card collection. If so, you'll need to get them before you hit the Chase 5/24 limit.'''
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<ul class="bulletlist">
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<li>'''The Uber credit is automatic, but not everyone uses Uber every month'''. The card comes with up to $200 in Uber refunds per year—$15 per month, and an extra $20 in December. The credits only apply to rides within the US, or food delivered via Uber Eats. If you frequently use Uber, this credit will wind up coming right off your bill, and the effective annual cost of the card will drop by up to $200. However, if you only use Uber infrequently, you’ll only get a partial benefit (you can "gift" your Uber credits to someone else, by letting them register your Platinum card, if you trust them with your card information).</li>
  
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If you are willing and able to get business cards, some of the Chase Business cards can substitute for some of their personal cards, freeing up additional slots.  
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<li>'''The Saks credit is automatic, but not everyone shops at Saks'''. The card comes with a $50 credit for purchases between January and June, and another $50 credit for purchases between July and September. You'll need to spend at least $50 in a single transaction to qualify for the credit. Once you've activated this feature, it works automatically when you use your card at Saks or on Saks online.</li>
  
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In addition, there are a few cards issued by other banks, where if you have too many recent credit inquiries or new credit cards, it can be hard to get approved. If you want to get these cards, you'll need to get them before you start applying for lots of other cards.
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<li>'''It is hard to get full value from the airline credit'''. The travel credit on the Amex card is much less useful than the travel credit from the Sapphire Reserve, Citi Prestige, and Altitude Reserve cards.</li>
  
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{{List|card}}
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It only covers incidental expenses like baggage fees and onboard food, not airfare, or even seat upgrades. And it only pays for fees on a single airline that you choose at the beginning of the year. Odds are you have ways to avoid these fees on airlines you fly frequently, and you might not be able to take full advantage of the credit, if you choose a less frequently flown airline. It is very rare for people to be naturally able to take full advantage of this credit.
  
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{{CardItem|SWAPremier}}
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{{Image|DeltaGiftCard.jpg|360}}
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'''If you want to get the Southwest Companion Pass, your top priority is usually to get one of the Chase Southwest Airlines cards.'''. As discussed in the Chase Business card section above, if you frequently fly Southwest, the Southwest Companion Pass is one of the most lucrative deals in travel hacking. And the easiest path to qualify for the pass is to signup for two Southwest credit cards. {{Link|Companion Pass}}.
 
  
−
You can only have one of the personal versions of the Southwest Airlines card at a time, and you can only collect a signup bonus for one of the cards, every two years. If you are aiming for the Companion Pass, we would generally recommend the Priority version (unless one of the other cards has a higher signup bonus). The Priority cards's $75 travel credit and larger number of anniversary bonus miles more than make up for the higher annual fee. And you'll get some ongoing benefits for your future Southwest Airlines flights.  
+
However, if you are willing to work harder, there is a “trick” that allows you to get full value from the airline incidental credit. Even though it is technically against the terms-of-use, Amex often refunds gift card purchases from certain airlines. You can then use these gift cards to pay for airfare at a later time. So, if a little web research indicates that small-denomination gift card purchases are still being credited for your favorite airline, you take the time to purchase the gift cards, and then remember to use them later, you can easily take advantage of the entire credit, dropping the effective annual fee by another $200. {{Link|incidental credits}}.
 +
</ul>
  
−
If you are not willing or able to get the Southwest Business card, you have a couple of options. Rumors are that, despite the official rules, you can sign up for two different versions of the Southwest personal card on the same day, and still receive both signup bonuses. Or you can sign up for just one card, and try to earn the additional miles through other means. If neither of those work out, you may need to give up on the idea of earning the pass.  
+
Depending on how fully you can use the Uber and Airline Incidental credits, the effective annual fee ranges from $150 - $550. If you don’t frequently use Uber, and don’t want to play gift-card games with the airline incidental credit, you’ll might get very little benefit, and bear the full brunt of the $550 annual fee. On the other hand, if you can take full advantage of both credits, you’ll get the annual fee down to $150—the same range as the other cards.
  
−
{{CardItem|United}}
+
Once you estimate how much of the credits you are likely to use, you should also subtract the amount of extra rewards you expect to earn, by using the card to make your out-of-pocket airfare purchases. Then you need to decide whether you value the extended lounge access, elite hotel status, and Fine Hotel and Resorts program enough to justify whatever is left of the annual fee.
−
'''If you frequently fly United, you’ll want to make sure to get the United card, to get access to free checked bags and other benefits'''. If you fly on United a lot, and you check bags, you can save some serious cash by getting and keeping the United credit card—it lets you and a companion avoid the fee on your first checked bag.  It is also useful for people who frequently fly United, because cardholders get increased availability for both “anytime” and “saver” award redemptions. If you are willing and able to get business cards, you could get the business version of this card instead.
 
  
−
{{CardItem|FreedomUnlimited}}
+
==== Amex Platinum Business Card ====
−
'''Many people will want to get the Sapphire Reserve and one of the Chase Unlimited cards, to earn the highest reward rates on much of their spending'''. These cards work together to earn the most valuable rewards on travel and restaurant spending, and for any spending that doesn’t fit into a bonus category. And as a side benefit, you'll have access to a number of valuable travel benefits like airport lounge access and primary rental car insurance. (While this is our recommended general purpose reward strategy for most people, some people may want to take an alternative approach. If so, getting these cards is not crticial). {{Link|general purpose}}.
 
  
−
This Chase Unlimited combo normally take TWO slots, one for each card. The Unlimited card's reward rate is not very interesting unless you have the Sapphire Reserve, Sapphire Preferred, or Ink Preferred card, so that you can transfer your Ultimate Reward points to their travel partners (or use them at more than 1 cent each to purchase travel). And none of the other cards earn more than 1x points on everyday purchases.  
+
'''If you decide to get the Amex Platinum card, you should consider the business version instead'''. The business card costs $100 less, and gets all the valuable unique benefits of the personal card, except for the Uber credit. And it gets a few interesting extra benefits, that you only get from the business version.  
 +
{{Card|PlatinumBiz|guide}}
  
−
However, if you are willing and able to get business cards, you have some additional flexibility. Instead of getting the personal version of the Unlimited card, you can get the Business version. Or you could get the Ink Preferred cards, and convert it into an Ink Unlimited card at the end of the first year (since you'll be focusing your spending on meeting the initial spending requirements of your new cards, it isn't a big deal to defer the 1.5x Ultimate Reward rate on everyday purchases for a year).  
+
<ul class="bulletlist">
 +
<li>'''It lets you redeem any of your Membership Reward points, to pay for certain airplane tickets, at a value of 1.54 cents each'''. While you should be able to get more value than this, by transferring your Membership points to airline partners to redeem for frequent flyer tickets, having the Business Platinum card gives you the option to get solid value from your points, with hardly any effort. It makes the Membership Rewards program much more attractive for people who don’t want to mess around with frequent flyer tickets.</li>
  
−
You could even skip getting both of these cards, if you were able to get the Ink Preferred and Ink Unlimited combination. You could eventually fill-in the missing features of the Sapphire Reserve card, by getting another card that earns good bonus rewards, and using other premium cards for airport lounge access.
+
<li>'''You’ll also get 10 Gogo Inflight Internet passes per year and a few other minor benefits, that you don’t get with the Personal card'''.</li>
 +
</ul>
  
−
{{CardItem|Altitude}}
+
'''The annual fee is $450, which is $100 less than the fee for the personal card. However, you don’t get the $200 Uber credit'''. If you would get full value from the Uber credit, the business card will wind up costing you more. If you get no value from Uber credit, the business card will wind up costing you less.
−
'''Bank of America's Altitude Reserve card is a lucrative card for anyone who wants to optimize their rewards for credit card spending, and is hard to get once you start signing up for a bunch of credit cards'''. It earns 4.5% back on any purchase you make with digital wallets, like Apple Pay. This allows you to earn extra rewards at any brick and mortar or online business that supports mobile wallets. And with Samsung Pay, you can earn 4.5% at any location where you swipe your credit card. To get this card, you'll need an account at U.S. Bank. Even then, it is hard to get approved, if you have too many recent inquiries or credit card accounts.  
 
  
−
As a result, if you want to be sure to get this card, get it early, even though it will effectively take up one of your Chase 5/24 slots. Even though other cards may be higher priority, if you have enough slots, you may want to get this one first. You'll still have room to get the other important cards later.  
+
You need to have some sort of business to be entitled to get this card. It can be a part-time gig, and you don’t need a special Tax ID number. Amex requires that the business revenue is at least $1,000 per year, but many people believe that is a projection of revenue over the next year, and not a summary of revenue over the previous year. {{Link|business cards}}.
  
−
{{CardItem|Freedom}}
+
There is one other consideration. '''With the business version, it costs $300 to add an authorized user. With the personal version, you can add up to 3 authorized users for $175 total'''. If you need to add someone else on the card, so that they get airport lounge access when they are traveling alone, the pendulum can swing back to the personal card.
−
'''The Chase “Freedom” card is interesting, but you are probably better off prioritizing other cards instead'''. The “Freedom” card is a different card than the “Freedom Unlimited”. It earns 5x points on purchases made in a set of categories that change every quarter; which is an incredible earning rate, since the points are worth around {{Value|ur}} cents each. These rewards, however, are capped at $1,500 of spending per quarter, so you can only earn up to an 30,000 bonus category points per year (or 21,000 points on top of the Unlimited Combo's base earning rate). It can take a bit of effort to use this card effectively, so be sure you are willing to take the time to follow this approach, before prioritizing it too highly, especially because the signup bonus is so low. {{Link|Rotating Category}}.
 
  
−
{{/List|card}}
+
==== Altitude Reserve ====
  
−
=== 3. Use any remaining slots for the affected Chase cards with the highest signup bonuses ===
+
'''The U.S. Bank Altitude Reserve card is the least expensive high-end card, and can earn back its cost, with extremely high rewards on mobile wallet payments'''. The Altitude Reserve’s signature feature is a 4.5% reward rate whenever you use a mobile wallet, like Apple Pay or Google Pay, to make a payment. This is much higher reward rate than you would get from any other card. For each $1,000 you spend with your mobile wallet (at brick and mortar stores, in apps, or online), you’ll earn somewhere between $15-25 in extra rewards. {{Link|mobile wallet}}.
 +
{{Card|altitude|guide}}
  
−
Once you've figured out how many of your available slots you need to use to get the cards that are important to you, you can use the remaining slots to maximize the value of the signup bonuses you collect.  
+
<ul class="bulletlist">
 +
<li>'''Plus, you’ll get 12 Gogo Inflight Internet passes per year'''. The Altitude Reserve costs $400 per year, but comes with an automatic $325 travel credit, making the effective annual fee $75.</li>
  
−
You'll wan to focus any remaining slots on Chase 5/24 cards (which you won't be able to get once you've hit the 5/24 limit) and on any other cards which have valuable signup bonuses, but can be hard to get once you've started applying for a bunch of new cards.  
+
<li>'''Keep in mind that this card only has limited airport lounge access'''—you only get 4 visits per year (and 4 total guest visits). Since you are likely to want at least one of the other cards that offers full access, this isn’t a big deal. But if this is going to be your only premium card, you’ll need to live with more limited lounge access.</li>
 +
</ul>
  
−
Our suggestions are below. This list shows the “normal” signup bonuses for each card. Promotions are sometimes available, which may temporarily make one of the cards a more attractive option. {{Link|Promotional Offers}}.
+
For many people, the unique benefits aren’t amazing, but they easily outweigh your $75 in out-of-pocket expenses.  
  
−
{{List|card}}
+
'''We consider it indispensable for people who can spend at least $5,000 on mobile wallet payments each year, and who want to fully optimize their reward earning. But it is an easy card to pass on, if you don’t want to deal with the added complexity of integrating this card into your point-earning routine.'''
−
{{CardItem|SapphirePreferred}}
 
−
'''Sapphire Preferred: 50,000 Ultimate Reward points'''. This is the best pure signup bonus from any of the Chase personal cards. Unlike the Sapphire Reserve, there is no first-year annual fee, and you can get an extra 5,000 points by adding an authorized cardholder. 50,000 Ultimate Reward points are worth $600-750 when redeemed like cash, $750-1,000 (or more) when redeemed for hotels, and potentially much more when redeemed for flights. To earn the bonus, you'll need to spend $4,000 in the first three months.  
 
  
−
However, you can no longer have both this card and the Sapphire Reserve at the same time, so if you wanted the Sapphire Reserve for its ongoing benefits, you'll need to pass on the Sapphire Preferred's slightly better signup bonus. However, there are rumors that, despite the official rules, if you apply for both versions on the same day, you can get them both, and still be eligible for each card's signup bonus (this will still use up two slots).
+
==== The Hilton Aspire Card ====
  
−
{{CardItem|swaplus}}
+
'''The Hilton Aspire card provides good value for anyone who can take advantage of its free night certificate and various annual credits'''. You get an annual $250 airline incidental credit, that is otherwise identical to the one from the Amex Platinum card, an annual $250 credit for paying your bill at a Hilton Resort, and an annual free weekend night certificate good at almost any of Hilton's most expensive hotels.  
−
'''Southwest Personal: 40,000 Southwest points'''. This works out to about $600 towards flight purchases. Because Southwest operates a fixed-value award program, you don't need to worry about award availability. You can get good value for your points on any flight that offers "Wanna Getta Away" fares.  
 
  
−
You can only get one of the three versions of this card. If you don't fly Southwest very frequently, the Plus version is the better deal. It has the lowest annual fee, and all three versions typically have the same signup bonus. If you fly Southwest more frequently, you'll get enough extra value from the Priority version to offset its higher annual fee.
+
{{Card|hiltonaspire|guide}}
  
−
{{CardItem|United}}
+
If you are willing to use the "gift-card trick", or can otherwise get good value from the Amex Incidental Airline Credit, and can expect to use the resort credit and free hotel night certificate every year, you can easily get more value than the $450 annual fee. The credits alone are worth $500 per year, and the free hotel night can be worth even more than that. In addition, you'll get automatic Hilton Diamond status, good for free breakfast and lounge access.
−
'''United Explorer: 40,000 United miles'''. You can use these on a variety of partner airlines, even if you don’t fly United. So, they are more flexible than Southwest Points, but you will need to find available awards space first.  You need to spend $1,000 in the first 3 months. The annual fee is $95, but it is waived the first year, and if you are only getting it for the signup bonus, you won’t keep it longer than that. The signup bonus on this card is still valuable, even if you got (and are planning to hold onto) the business version.  
 
  
−
{{CardItem|Arrival}}
+
==== The SPG Luxury Card ====
−
'''Barclays Arrival Plus: 50,000 arrival points'''. These points can be used for $500 of travel purchases. You can use your card to book almost any travel related expense, and then use your points to get reimbursed. This is one of the best cash-like signup bonuses, and it can be hard to get approved for this card, unless you get it early.
 
  
−
{{CardItem|Marriott}}
+
'''The SPG Luxury Card is somewhat interesting for its annual free night certificate. For some people it also provides a possible path towards high-level Marriott / SPG Status, and/or can be the most cost-effective way to get airport lounge access.'''  Its $300 Marriott / SPG credit can be used to offset actual room charges, and not just incidental expenses. Most people should be able to take full advantage of this credit, and lower their out-of-pocket cost for the card to $150.  
−
'''Marriott: 75,000 Marriott points'''. These points are valued at {{Value|Marriott|75000}} and can easily be used for Marriott / SPG hotel rooms or converted into 30,000 airline miles with a larger number of different frequent flyer programs. $3,000 initial spending requirement in the first 3 months. $95 annual fee.  
 
  
−
{{/List|card}}
+
{{Card|SPGLuxury|Guide}}
  
−
=== 4. After you've hit the 5/24 limit, fill out the rest of your core credit card collection ===
+
Every year, you'll receive a free night certificate. Unlike the certificates from the "regular" Marriott and SPG cards, the Luxury card's certificate is capped at 50,000 points. 50,000 Marriott / SPG points are valued at {{Value|Marriott|50000}}, and can be used for free nights at many nice hotels, even in expensive locations. Of course, the certificate is less valuable, because it has less flexibility than 50,000 actual points, and expires in 1 year. You also get Marriott / SPG Gold status, which comes with some minor benefits.
  
−
After you’ve hit the limit for your Chase “5/24 cards”, you are ready to get any unaffected cards, from Chase or other credit card companies, that you want to make part of your core credit card collection.  
+
Given that the annual free night certificate and hotel credit are somewhat more valuable than the annual fee, the SPG Luxury card can be a very inexpensive way to get airport lounge access, if you don't already have it from other cards. However, it would be worthwhile to investigate the Hilton Aspire card as a potentially better alternative.  
  
−
{{Box|Getting These Cards Earlier}}
+
Marriott / SPG Platinum status is the level that comes with free breakfast and lounge access (at most hotels), and free room upgrades to the best available room (including regular suites) at check-in. The Luxury card allows you to receive Platinum Status by spending $75,000 with the card in a year. Assuming you have a way to generate this amount of spending, it could conceivably be worthwhile to take this path, as this is a compelling status level and can last for up to two years. You'll need to stay frequently enough to get enough benefit, but not so frequently that you would naturally earn this level of status.
−
While we generally recommend using any remaining Chase 5/24 slots to get cards you can't get later, that means having to wait some time before you can get any unaffected non-business cards.
 
  
−
If a potential travel benefit is extremely valuable to you, you may not want to wait. For example, if you could save hundreds of dollars with the Citi Prestige's 4<sup>th</sup> night free benefit, by getting the card earlier, it may be worth missing out on one of your potential Chase 5/24 slots. You have to trade off the value of having earlier access to the benefit, while you are still under the 5/24 limit, versus the value of being able to get an additional valuable Chase card or signup bonus.
+
==== CNB Infinite Card ====
  
−
If you are planning on getting Chase Business cards, make sure you don't use up your final slot, until after your done getting these cards.  
+
'''Some people should consider the CNB Visa Infinite card (if you can get it) for its reusable $100 airfare credit'''. This card is one of only three cards, along with the UBS card and the no-longer-available-to-new-signups Ritz Carlton card, that comes with the valuable “Visa Infinite $100 Airfare Benefit”. Every time you book a domestic economy airplane reservation for two or more people, you get a $100 refund. For example, if you booked a quick getaway for two people on flights that cost $180 each, you would wind up paying $260, instead of $360. If you fly as a couple or family on several domestic flights per year, these rebates can really add up. You’ll also get 12 Gogo Inflight Internet passes per year. {{Link|Visa Infinite}}
−
{{/Box}}
+
{{Card|CrystalInfinite|guide}}
  
−
=== 5. Finally, collect the best remaining “sign-up” bonuses ===
+
However, it can be difficult to get this card. You need to apply in-branch. Most of the branches are in California and Nevada, but they have “entertainment industry” branches in New York City, Nashville, and Atlanta, and a trust office in Wilmington. You are also likely to have to produce paperwork detailing your financial position, rather than just filling in a quick application form.
  
−
After you've used up your Chase 5/24 slots, and filled out your core credit card collection, you don't need to stop. You can continue to get additional cards, just to take advantage of their signup bonuses. {{Link|Best Offers}}.
+
The annual fee is $400, but you get a $250 automatic airline incidental credit on domestic flights (per cardholder). Unlike Amex’s credit, this works for any airline. Depending on how much money you spend on these purchases, or how willing you are to try to get around the terms-of-use by buying airline gift cards, this credit can put a big dent into the annual fee. Uniquely, every authorized user of the Crystal Infinite card gets their own travel credit. Therefore, it is possible to take advantage of multiple credits per year, and more than completely offset the annual fee. {{Link|incidental credits}}.
  
−
'''We generally suggest getting non-Amex cards first'''. However, don't hesitate to get any Amex cards that have important benefits, are offering a particularly good signup promotion, or are about to get discontinued. 
+
==== UBS Infinite Card Guide ====
  
−
<ul class="simplelist">
+
'''The UBS Infinite Card is a less desirable option for taking advantage of the Visa Infinite $100 airfare credit'''. It has a $495 annual fee and a $250 airline incidentals credit that is good on only a single airline. In addition, there is no online access to manage your card or your points, unless you have a separate cash management account with UBS (and no online applications either).  
−
<li>You can often receive non-Amex signup offers multiple times. Although, you'll usually need to wait until enough time has past since you last received the offer. The sooner you sign up for these cards, the sooner you'll be able to get them again. Since you can only receive Amex signup offers once per lifetime, there is no harm in waiting to apply.</li>
+
{{Card|ubsinfinite|guide}}
  
−
<li>Amex is pretty forgiving of people who have signed up for a lot of cards with other banks. Many, but not all, other banks are less likely to approve you, if you have a bunch of recent inquiries or new cards. By getting non-Amex cards first, and saving Amex cards till later, you are likely to be able to receive more total approvals over a several year time period.</li>
+
On the plus side, it does come with up to 24! free authorized users, primary rental car insurance, 12 Gogo inflight wi-fi passes, and airport lounge access.
−
</ul>
 
  
−
{{Box|Avoiding Other Chase Cards Once You've Signed Up for a Lot of Cards}}
+
====The Sapphire Reserve Card ====
−
While many of Chase's best cards are affected by the Chase 5/24 cards, some of its other cards, such as the Hyatt, IHG, and British Airways cards, are not. As a result, you can sign up for these other cards after you've hit the 5/24 limit.
 
  
−
However, if you've been signing up for lots of cards in a relatively short period of time (across all of the credit card companies), there is some risk in trying to sign up for one of these other Chase cards. As part of processing your application, there is a small risk that Chase will decide that your large number of new cards and/or inquiries makes you a risk, and they will cancel all of your existing cards. This hasn't happened to many people, but it has happened to some.  
+
'''The main reason to hold onto the Sapphire Reserve card is for its reward earning rates'''. If you’ve read our {{Link|General Purpose|recommendation for the best general-purpose reward card}}, you know that we recommend that most people get the Sapphire Reserve / Freedom Unlimited combination to earn great reward rates on travel, restaurants, and any purchases which doesn’t qualify for a category bonus on your other credit cards. The Sapphire Reserve has a $450 annual-fee, but an automatic $300 travel credit makes the effective annual fee only $150.  
  
−
To play it safe, if you want a couple of these cards, get them before you've signed up for many other cards, and don't try to sign up for every possible Chase card as fast as you can. Then, don't apply for new Chase cards, unless you wind up slowing down your credit card applications in the future.  
+
'''If you decide on an alternative option for your general-purpose reward card, it can still make sense to get the Sapphire Reserve, just for the high reward rates on travel and restaurant spending'''. However, unless you spend a lot of money in these categories, or don’t expect to have lounge access through another card, you may be better off using other cards instead. For example, the {{Card|Uber|only}} has no annual fee and earns 4% on dining. For every $1,000 you spend on restaurants, you are only getting an extra $20 on rewards from the Sapphire Reserve. The {{Card|CitiPrestige|only}} and {{Card|Altitude|only}} earn compelling rewards on travel. If you are getting either of these, you’ll get less value from the Sapphire Reserve’s bonus rewards.
−
{{/Box}}
 
  
−
=== Strategies to continue qualifying for the Southwest Companion Pass ===
+
=== Obtaining continuous airport lounge access ===
  
−
If you qualify for a Southwest companion pass, by earning your signup bonuses towards the beginning of the year, you will have access to the pass for almost two years (the pass is good until the end of the year following when you qualify for it).  
+
Free access to airport lounges is one of the most valuable benefits of premium credit cards. Most people are going to always want one card that provides this benefit.  
  
−
When the pass expires, most people will to want to re-qualify for it. But to do that, you’ll need to be under the Chase 5/24 limit, so that you can reapply for the cards.  
+
{{ImageX|PriorityPassCard.jpg}}
  
 
<ul class="bulletlist">
 
<ul class="bulletlist">
−
<li>'''The simplest approach is to have one person stick to a smaller number of cards'''. Every two years, they are eligible for a total of 5 personal cards. As long as you sign up for the Southwest Business card first, you can get the Southwest personal card, as well as four other personal cards during every each two year period. The other person doesn’t have to worry about the signup limit, and can sign up for as many cards as they want.  </li>
+
<li>'''If you decide you want to make one of these cards part of your core credit card collection, you’re all set'''. If you are planning to hold onto the Citi Prestige for its 4<sup>th</sup> night free benefit, the Amex Platinum or Ritz cards for their unique blend of benefits, the Sapphire Reserve for its reward earning rates, and/or one of the Infinite cards for the Visa Infinite Air Credit, you’ll already have a card that gives you ongoing lounge access.</li>
 +
 +
<li>'''You may want to spread out your Amex Platinum applications for access to additional lounges'''. The Amex Platinum card provides access to additional lounges, beyond the Priority Pass program, most notably the Amex Centurion lounges. If this is important to you, you should spread out your Platinum card applications.</li>
 +
 
 +
There are currently four different versions of the Platinum card that don’t have access restrictions, and that either have a valuable signup bonus or a waived first-year annual fee—the regular, Schwab, Ameriprise, and small-business versions. By signing up for a different one each year, you’ll have ongoing access to the additional Amex lounges (and the other benefits), while you are collecting each card’s signup bonuses. Hopefully, other versions will become available sometime over the next five years, and you can extend this strategy even further. Alternatively, you could try cancelling the Ameriprise version after the initial year, waiting a few months, and then re-applying.
 +
 +
Even if you want to permanently hold onto an Amex Platinum card, you are better off signing-up for a different version each year, and saving your favorite version untill last.
 +
 
 +
<li>'''Each person will need their own card, if they want to access lounges while travelling separately'''. While each card lets the cardholder bring in at least one guest, this doesn’t let another member of your family access a lounge without you. To do this, they will need their own card, or you will need to pay to add them as an authorized user. Only the Ritz Carlton card allows you to add authorized users for free, and gives them lounge access.</li>  
  
−
<li>'''The skip-a-year method'''. Under this approach, you get all the credit cards which are most important to you, including the Southwest Airlines cards, during the first year. That way, you can be sure to get all the cards you want for your core credit card collection, and collect all the best signup offers. Then, you stop signing up for new credit cards. A year later, your Southwest pass will expire, but you won’t be able to immediately re-qualify. Then, about two years after you finished your initial burst of signup activity, you’ll back under the limit, and will be able to apply for the Southwest Airlines cards again. Depending on how quickly you acquired the other cards you want, you may only need to live without the pass for 12-18 months.</li>
+
<li>'''If you need lounge access for more than two people, you may need to spread out your non-Amex applications'''. The Platinum card provides access to the largest number of lounges, but it only allows two guests per visit. Many of the other cards allow an entire family, or even an unlimited number of travelling companions. If both adults have access to their own Platinum card, you are set. However, if that isn’t possible, and you aren’t holding onto another premium credit card, like the Citi Prestige, you can spread out your applications, to extend the period of time, when you have at least one card that provides the right level of guest privileges.</li>  
 
</ul>
 
</ul>
  
−
=== Possibilities for bypassing the rule ===
+
=== Holding onto a premium card for travel and restaurant spending ===
  
−
While is almost impossible to get approved for the affected cards, if you are over the 5/24 limit, it is not completely impossible.  
+
The best reward rates for travel (and restaurant) spending are primarily available from high-end reward cards.  
 +
 
 +
{{ImageX|Restaurant3.jpg}}
  
 
<ul class="bulletlist">
 
<ul class="bulletlist">
−
<li>'''If you are “pre-approved” in-branch, you will usually be able to get the card, even if you are over 5/24'''. You need to ask your banker to see if you are pre-approved for any cards, and fill out the application in the branch. Just be aware that there isn’t a high likelihood that you will qualify for any pre-approved offers if you are over 5/24.</li>  
+
<li>'''If you have an Amex Platinum card, you probably want to use it for your airfare purchases'''. You’ll earn 5x Membership Reward points, valued at {{Value|mr|5}} cents per dollar, which is much higher than any other card. However, unlike other options, such as the Sapphire Reserve and Citi Prestige card, the Platinum card doesn’t provide most automatic travel insurance benefits. So, depending on the risk of covered trip cancellation or delays, you may want to settle for a lower reward rate. Also, unless you have the business version of the Platinum card, there are no good redemption options other than frequent flyer tickets.</li>
 +
 
 +
<li>'''It can be worth getting the Sapphire Reserve card, just for it's bonus rewards on travel and restaurant purchases'''. It earns 3x Ultimate Reward points, valued at {{Value|UR|3}} cents per dollar, on both of these categories. For every $1,000 you spend on restaurants, you'll earn an extra $10 in rewards, compared to the no annual fee {{Card|Uber|only}}. For every $1,000 you spend on travel, you'll earn an extra $20 in rewards, compared to the Uber card, or an extra $5 in rewards compared to the Altitude Reserve card. Even if you already have the Citi Prestige card, it is somewhat better to earn 3x Ultimate Reward points, than 3x Thank You points.</li>
 +
 
 +
Depending on how much you spend on restaurants and travel, it can be easy to earn more in additional rewards, than the Sapphire Reserve's effective annual fee of $150. For example, if you use your Sapphire Reserve for $5,000 restaurant spending, and $3,000 of travel spending, you will be around breaking even.
  
−
<li>'''If you have a more significant business, you may be able to get approved for additional cards, even if you are over the limit'''. You will need to have your own “Business Relationship Manager”, and fill out a paper-based application form. For this to work, you usually need to be doing a significant amount of business-related banking with Chase.</li>  
+
<li>'''If you can't get the Sapphire Reserve, don't spend enough money on travel per year, and already want to get the Citi Prestige or Altitude Reserve card, you’ll probably want to use one of them for your travel spending'''. However, you’ll need to avoid the Citi Prestige card, if you aren’t interested in redeeming your points for frequent flyer tickets, as that is its only reasonable redemption option.</li>
  
−
<li>'''Being a Chase Private Client no longer exempts you from the rule'''. During the earlier days of the Chase 5/24 rule, Chase didn’t always apply the rule to its best customers. If you were a Chase Private Client, your application might still get approved, or you could wind up getting up approved by having your personal banker help you with the reconsideration process. While anything is possible, this is no longer working for most people.</li>
+
<li>'''If you can't get the Sapphire Reserve, and don’t have one of these cards, you might want to get one just for your travel spending'''. For every $1,000 you spend on travel, you'll earn about $15 in extra rewards compared to the Uber card. For example, if you spend at least $5,000 on travel with the Altitude Reserve card, you'll earn enough extra rewards to offset the card's $75 effective annual fee. </li>
 
</ul>
 
</ul>
  
−
=== Advanced 5/24 strategies ===
+
=== Side-by-side comparison ===
 +
 
 +
{{Table|basic|6in}}
 +
!
 +
!style="width: 1in;"|Chase Sapphire Reserve
 +
!style="width: 1in;"|Amex Platinum Card
 +
!style="width: 1in;"|Citi Prestige card
 +
!style="width: 1in;"|U.S. Bank Altitude Reserve
 +
!style="width: 1in;"|Hilton Aspire
 +
|-
 +
| colspan="6" style="background-color: ghostwhite;"|Points Earning
 +
|-
 +
|Type of points
 +
|Ultimate Rewards
 +
|Membership Rewards
 +
|ThankYou
 +
|Altitude
 +
|Hilton
 +
|-
 +
|Bonus Categories
 +
|3x Travel
 +
 
 +
3x Restaurants
 +
|5x Airfare, prepaid hotels through Amex travel
 +
|3x Airfare
 +
 
 +
3x Hotel
 +
 
 +
2x Restaurants
 +
 
 +
2x Entertainment
 +
|3x Travel
  
−
Our basic approach to the Chase 5/24 rule is simple. Sign up for as many affected cards as you can, move onto other cards, and don’t look back.
+
3x Mobile Wallet
 +
| 7x Flights and rental cars with Amex travel
  
−
Until Chase gets rids of the policy, or you slow-down, you won’t be getting any additional affected cards. But, if you are willing to deal with some complexity, you can optimize this further.  
+
7x Restaurants
  
−
<ul class="bulletlist">
+
14x Hilton
−
<li>'''If you are at 4 cards, you can probably be approved for 2 additional Chase cards, as long as you apply on the same day'''. This allows you to sneak-in an additional affected card. Apply for the card you want more first.  Then apply for an additional card later that same day.  There is a limit of 2 new Chase cards every 30 days, so you need to make sure at least 30 days have passed since you were approved for your previous card.</li>
 
  
−
<li>'''Most business credit cards don’t count towards your Chase 5/24 limit'''. Credit card companies usually look at your personal credit report when deciding whether to give you a small-business card. But once you get the card, it usually won’t be listed among the open accounts on your personal report. So, when Chase looks at your credit report, they won’t see (most of) the small-business cards that you’ve already signed up for.  To see the best information about whether a card will show up or not, check [//www.doctorofcredit.com/which-business-credit-cards-report/ Doctor of Credit’s List].</li>
+
|-
 +
| colspan="6" style="background-color: ghostwhite;"|Lounge Access
 +
|-
 +
|Locations
 +
|Priority Pass
 +
|Priority Pass
  
−
<ul>
+
Centurion
−
<li>'''You can sign up for affected Chase business cards (Ink, Southwest, United) before you hit 5/24, and they shouldn’t count against your limit'''. This lets you squeeze in extra Chase 5/24 cards. Even though Chase obviously knows that you signed up for these cards, most people report that they don’t count against the 5-card limit. This can be confusing, because you can’t get these cards if you have already gotten 5 cards, but getting this card earlier doesn’t count as one of those 5. There are some conflicting reports, so don’t be too upset, if they wind up counting against your 5-card limit</li>
 
  
−
<li>'''If you are trying to stay or get back under 5/24, you don’t need to worry about signing up for (most) business cards'''. As soon as you drop below 5 personal cards in the last 24 months, you are re-eligible to get another Chase 5/24 card. To repeat, you can get as many business card as you want, from almost any bank, without affecting your Chase 5/24 status. </li>
+
Delta
 +
|Priority Pass
 +
|Priority Pass (4 times only)
 +
|Priority Pass
 +
|-
 +
|Guests
 +
|2
 +
|2 (none at Delta)
 +
|Family or 2
 +
|1 per visit
 +
|2
 +
|-
 +
| colspan="6" style="background-color: ghostwhite;" |Other Benefits
 +
|-
 +
|Primary Rental Car Insurance
 +
|Yes
 +
|
 +
|
 +
|Yes
 +
|
 +
|-
 +
|Global Entry Fee Credit
 +
|Yes
 +
|Yes
 +
|Yes
 +
|Yes
 +
|
 +
|-
 +
|Hotel Elite Status
 +
|
 +
|Hilton Gold
  
−
<li>'''To increase your flexibility of signing up for Chase offers, you focus on business cards first, even before getting all the affected Chase cards that you want'''. Since business cards generally won't be listed on your credit report, you'll stay under the 5/24 limit. This allows you to sign-up for one of the affected Chase cards if a particularly good opportunity comes along; or if your plans change. Until you've started running out of business credit cards to apply to, or you need more than one or two non-Chase personal cards for other reasons, you can postpone getting the personal cards from Chase (or any other bank). </li>
+
Marriott Gold
−
</ul>
 
  
−
<li>'''If Chase cards are extremely important to you, you can use a one-year-on, two-years-off strategy'''. With this approach, you go crazy with credit cards sign-ups, and then go close to cold-turkey for two years. At the end of your two-year abstinence, you can sign-up for up to a set of Chase cards again, then a bunch of other credit cards, and then possibly go cold-turkey again.</li>
+
SPG Gold
 +
|
 +
|
 +
| Hilton Diamond
 +
|-
 +
|Gogo inflight Internet passes per year
 +
|
 +
|10 (business version only)
 +
|
 +
|12
 +
|
 +
|-
 +
|$100 off domestic coach airfare for 2 or more people
 +
|
 +
|
 +
|
 +
|
 +
|
 +
|-
 +
|4<sup>th</sup> night free at any hotel
 +
|
 +
|
 +
|Yes
 +
|
 +
|
 +
|-
 +
|Other notable benefits
 +
|
 +
|Fine Hotel Resorts
  
−
During the two “down years”, you can always sign-up for a particularly amazing or useful card. You’ll still get under the 5-card limit around the same time. You just will have room for one less Chase card, when you do. And, you can still sign-up for business cards the entire time.
+
Amex Offers
  
−
Also, there is no hard and fast rule about how long your active period should be. You could limit it to six months, so you can get Chase cards every 2.5 years; or you can lengthen it out to 2 years, and wait to get Chase cards every four years.
+
Discount Airfare Program
  
−
<li>'''It MAY still be possible to earn the signup bonuses for both versions of the Sapphire card and/or both personal versions of the Southwest Airline cards'''. Chase's official rule is that you can only have one Sapphire card and one personal Southwest Airline card at any one time, and can only earn one Sapphire card bonsu every 48 months, and one personal Southwest card bonus every 24 months. However, some people have reported being able to sign up for both Sapphire or both Southwest cards on the same day, and earn the bonuses from both cards.
+
Boingo Wi-Fi
−
</li>
+
|
−
You are still subject to Chase's 2/30 rule, so make sure you haven't signed up for any Chase cards in the last month. According to an excellent post on [//www.reddit.com/r/churning/comments/837eq3/faq_credit_card_recommendation_flowchart/ Reddit], wait to get approved for the first card (if you aren't immediately approved called the reconsideration line at 888-270-2127), then apply for the second card in a different browser. The post suggests "starting early in the day, on a non-holiday weekday".
+
|
−
</ul>
+
|Annual free night certificate
 +
|-
 +
| colspan="6" style="background-color: ghostwhite;" |Credits
 +
|-
 +
|Travel Credit Applies
 +
|$300, any travel
 +
|$200, airline incidentals w/1 airline
 +
|$250, any airfare
 +
|$325, any travel
 +
|$250, airline incidentals w/1 airline
 +
|-
 +
|Per Year
 +
|Cardholder year
 +
|Calendar year
 +
|Calendar year
 +
|Cardholder year
 +
|Calendar Year
 +
|-
 +
|Other credits
 +
|
 +
|$15/month ($35 in December) for Uber rides or Uber eats. 2x $50 credits at Saks.
 +
|
 +
|
 +
|$250 resort credit (cardholder year)
 +
|
 +
|-
 +
|Applies
 +
|Automatically
 +
|Automatically
 +
|Automatically
 +
|Automatically
 +
|Automatically
 +
|-
 +
| colspan="6" style="background-color: ghostwhite;" |Signup Bonus
 +
|-
 +
|Bonus
 +
|50,000 points
 +
|40-100,000 points
 +
|40-50,000 points
 +
|50,000 points
 +
|100,000 points
 +
|-
 +
|Spending Requirement
 +
|$4000
 +
|$5000
 +
|$4000
 +
|$4500
 +
|$4000
 +
|-
 +
| colspan="6" style="background-color: ghostwhite;" |Annual Fee
 +
|-
 +
|Base Fee
 +
|$450
 +
|$550
 +
|$450, $350 for Citigold
 +
|$400
 +
|$450
 +
|-
 +
|Authorized card Holder
 +
|$75
 +
|$175 for up to 3
 +
|$50
 +
|$75
 +
|$0
 +
{{/Table}}
  
 
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Revision as of 22:51, 27 October 2018

  Credit Card Reference

PremiumCards.png

Many credit card companies offer “premium” reward cards that have high annual fees, but also provide valuable benefits, such as free airport lounge access. The most famous of these are the Amex Platinum and Chase Sapphire Reserve cards, but there are also several lessor-known premium cards available from other banks.

These premium cards can be very valuable. At a minimum, you’ll want to eventually sign up for all these cards, to collect their extremely lucrative signup bonuses. By spreading these applications out over time, you’ll be able to freely access airport lounges for years to come. And, depending on your travel patterns, it can be worthwhile to make one or more of these cards part of your “permanent” credit card collection.


Jump to



What all the premium cards have in common

While each premium card has valuable unique benefits, they also share some general features.

  • Airport lounge access. Each card provides free access to over 1,000 airport lounges through the Priority Pass airport lounge program. You (and some number of additional traveling companions) can freely access airport lounges located all around the world. They aren’t the fanciest lounges around, and there may not be one in the terminal you are using for your flight, but you should still have plenty of opportunities to take advantage of this benefit. Get Free Airport Lounge Access from a Credit Card.
    • AirportLounge1.jpg

    The Amex Platinum card provides access to some additional lounges, besides the ones that belong to Priority Pass. For example, you get access to Amex’s own collection of Centurion lounges, which are located at a handful of locations around the world, plus access to Delta’s lounges when flying Delta.

  • Extremely valuable signup bonuses. All the premium cards have excellent signup bonuses—typically worth anywhere from $600, to more than $2,000, depending on current promotions, and the way you choose to use the points. Because of the signup bonuses, it is worth signing up fro all of these cards, even if you aren’t interested in holding onto them for the long run.
  • Some sort of credit that reduces the amount of money it costs each year to have the card. Every premium reward card comes with a “credit”, which rebates some of the travel charges you put on the card. Except for the Ritz Carlton card, these credits are automatic. For example, the first $300 you spend on travel with your Sapphire Reserve card every year is automatically subtracted from your credit card bill, without having to take any additional action. You pay $450, but you get back $300 in free travel.

    • With some cards, it is trivial to take advantage of their travel credit. For example, everyone who is reading this is likely to spend at least $300 on travel. As long as you use your Sapphire Reserve card to pay for that travel, you’ll wind up earning the credit. With other cards, it is considerably harder. The $200 credit from the Amex Platinum card only pays for incidental expenses, like checked bag fees and inflight food and beverages, on a single airline (that you have to choose at the beginning of the year). There is a good chance that you won’t have a natural opportunity to take full advantage of this credit. Although, there are ways to maximize the Amex credit using airline gift cards. Get Full Value from Your Airline Incidental Credits.

  • Global Entry rebate. Each high-end card (and some lower-end cards) will also pay up to $100 for your Global Entry / TSA PreCheck application fee. Since, you only need to pay these fees once every 5 years, each card’s credit can only be used once every four to five years. If you need to pay fees for family members, you may need to take advantage of the TSA fee credit from multiple cards. The Hilton Aspire cards is the only premium card that doesn't offer a TSA credit. 
    • TSAPre.jpg
  • Some sort of elite car rental status. Most of the high-end reward cards entitle you to elite status with a few car rental companies. While this is nice to have, it isn’t much of a reason to go out and get the cards. Elite car rental status usually just amounts to a one-car class upgrade, and some extra bonus points from the rental company’s reward program.

You should (eventually) sign up for every premium credit card, to collect their signup bonus bonus

The short answer to which premium card you should sign up for is “all of them”.

  • All the premium cards have generous signup offers. For example, a typical signup offer for the Amex Platinum cards ranges from 60,000 to 100,000 Membership Reward points, valued at $900 to $1500. If you highly value premium-cabin frequent flyer awards, the signup bonuses are even more valuable.
  • Annual fees are high, but they can be offset by travel credits. For example, the Sapphire Reserve has a $450 annual fee. But, it comes with an automatic $300 travel credit. So, while you need to pay the $450 annual fee to earn the signup bonus, you’ll get back $300 in free travel, dropping your effective out of pocket expense to $150.
  • In some cases, you can take advantage of the travel credit twice in your initial year. The Amex Platinum, Citi Prestige, and Ritz Carlton cards allow you to earn the travel credit each “calendar” year. The CNB Infinite card allows you to earn the travel credit each calendar year, and offers separate credits for each authorized cardholder.

    • You can take advantage of the credit twice during your initial sign-up year. For example, if you sign up for the card in August, you can get the full credit for your travel spending between August and December, and then again for your spending between January and August. For some of these cards, you can get back more in credits, than you need to pay in annual fees—and that doesn’t even include the value of the sign-up points or ongoing benefits.

  • You can earn the signup bonus from multiple different versions of the Amex Platinum card. Amex has partnered with a number of other companies, to offer slightly different versions of their Platinum cards. While you can only earn each Amex signup bonus once per lifetime, you are entitled to earn the bonus from each different version of the Platinum card.

    • There are three personal versions of the card that are available for most readers. The regular and Ameriprise versions are available to everyone with solid credit (although the Ameriprise version usually doesn't have a signup bonus). The Schwab version is only available to people who have a Schwab account, but you can easily open a Schwab account without any fees. There is also a business version that is available to anyone who has any type of small business.

    There are some other versions as well. The Morgan Stanley version requires a Morgan Stanley account that will either require a little effort, substantial fees, or a large amount of assets. The Goldman Sachs version is only available to existing employees or high-value customers. The Ameriprise version waives the first year’s annual fee, rather than providing a substantial signup bonus.

Keeping a card for its unique benefits

Every premium card makes sense for the first year, due to their lucrative signup bonuses. The question is whether it make sense to make the card a more permanent part of your core credit card collection.

Several high-end cards have unique benefits that are potentially very valuable. Depending on your travel patterns, the unique feature of each card can be enough to warrant holding onto the card, and paying the annual fee every year.

  • When deciding whether it is worth holding onto a premium card, you can usually ignore the Priority Pass airport lounge benefit. Chances are that you will already have Priority Pass access through another card. For example, if you decide to hold onto the Citi Prestige card for its 4th night free benefit, you’ll get no additional value from the Sapphire Reserve’s airport lounge access. Even if you aren’t interested in holding onto one of the other cards, you can get airport lounge access for many years, by simply spreading out your applications over time, collecting the signup bonuses, and then cancelling the cards after the first year.
  • Since you will probably be signing up for these cards to collect the signup bonus, you’ll get a “free” year to decide whether the ongoing benefits are worthwhile. Don’t worry to much about evaluating whether you’ll get enough value from the card’s benefits to make it worthwhile to continue to pay the annual fee. When you sign up to collect the bonus, you’ll have the card for a year, and will have plenty of opportunity to evaluate the ongoing benefits.

Citi Prestige Card

If you expect to stay four nights or longer at a hotel, at least two times per year, make sure to get the Citi Prestige card. Whenever you use this card to book a four night stay at almost any hotel, you’ll get the average cost of one night refunded to your credit card statement. As of now, you can use the benefit as many times as you want, at anything from a $70 per night roadside motel to a $800 per night ski lodge. Starting in 2019, you'll be limited to two uses per year (of your choice)

4thNightFree.jpg

For example, if you pay $1,200 for a four night stay at a beach resort, Citibank will give you $300 back. Later in the year, if you pay $900 for a four night stay at a downtown hotel, Citibank will give you another $225 back. Depending on your travel patterns, this is the most valuable benefit that you can get from any credit card, savings hundreds of dollars per year. Get Your 4th Night Free with the Citi Prestige Card

The Citi Prestige card costs $450 per year, but comes with an automatic $250 airfare credit, making the effective annual fee $200. If you are a preferred Citibank customer, you save an additional $100 off the annual fee. The card is also the only credit card (other than its sibling) to give bonus points on entertainment spending.

If you can use the 4th night free benefit twice per year, it is almost always worthwhile to get this card, even if you have other premium cards.

Amex Platinum Card

The Amex Platinum card can be very attractive to some people, and is much less attractive to others. Unfortunately, it is less straightforward to determine whether the unique benefits of the Amex Platinum card are worth the annual fee. Unlike the other cards, it has several different unique benefits, that you will need to value separately. It is also less clear how much value you can get from its travel credits.

  • The Amex Platinum card gets you into more Airport Lounges than the other cards. The Amex card comes with a Priority Pass membership, but also provides access to Amex’s new Centurion lounges, to Delta lounges (when flying Delta), and to a small set of additional lounges. That makes it particularly valuable if you live in a Delta hub, or a city with a Centurion lounge. Get Free Airport Lounge Access from a Credit Card.

    • Just be aware that, unlike most of the other cards, you are limited to 2 free guests when you visit Priority Pass lounges (and when you are visiting one of their own Centurion lounges); and only the cardholders receive free access to Delta lounges. So, if you frequently travel with a family, and don’t pay the $175 additional fee to add authorized cardholders, the Platinum card’s lounge benefit can be less valuable than the lounge benefit from other cards.

    CenturionLounge.jpg
  • The Platinum card gives you automatic Gold status at Hilton, Marriott / Starwood hotels. At Hilton that’s good enough for free breakfast. While you can easily get Hilton Gold status from one of the Hilton credit cards, they have a $95 annual fee. Get Free Breakfast or Club Floor Access with the Right Credit Card.
    • ContinentalBreakfast.jpg
  • The Platinum card earns the highest reward rate on airfare. You’ll earn a whopping 5x Membership Rewards points on your airfare purchases. For every $1,000 that you spend, you’ll earn approximately $40 in extra rewards by using the Platinum card, instead of using one of the best travel reward cards, like the Sapphire Reserve. On the other hand, the Platinum card doesn't offer the extensive set of free travel protections that you can get from the other premium cards. (The Platinum card's 5x reward rate on hotels isn’t worth much, because of the drawbacks associated with needing to purchase pre-paid rates on a 3rd party booking site.)

    • If you spend a lot of money on airfare, the extra rewards you earn from the Platinum card will offset a significant portion of the card's annual fee.

  • “Fine Hotels & Resorts” is a great program, but you can often get similar benefits elsewhere. If you stay in luxury hotels, you can get great benefits with the Platinum card’s highly-touted Fine Hotel and Resorts program. But to be fair, many of the hotels in the program participate in similar programs run by the other credit card programs or luxury travel agents. On the other hand, Amex’s Fine Hotel & Resorts does more frequently provide 3rd and 4th night free offers, compared to the other programs. While the potential upside can be high, you might not get any real value from this in any given year, especially if you don’t often pay for the most expensive hotels and resorts. Take Advantage of Luxury Hotel Programs for Valuable Extra Perks.

The annual fee for most versions of the Platinum card is $550. Like the other high-end cards, it comes with some credits that can offset that fee, but unlike the Citi Prestige, Altitude Reserve, and Sapphire Reserve cards, it isn’t easy to get full value from these credits.

  • The Uber credit is automatic, but not everyone uses Uber every month. The card comes with up to $200 in Uber refunds per year—$15 per month, and an extra $20 in December. The credits only apply to rides within the US, or food delivered via Uber Eats. If you frequently use Uber, this credit will wind up coming right off your bill, and the effective annual cost of the card will drop by up to $200. However, if you only use Uber infrequently, you’ll only get a partial benefit (you can "gift" your Uber credits to someone else, by letting them register your Platinum card, if you trust them with your card information).
  • The Saks credit is automatic, but not everyone shops at Saks. The card comes with a $50 credit for purchases between January and June, and another $50 credit for purchases between July and September. You'll need to spend at least $50 in a single transaction to qualify for the credit. Once you've activated this feature, it works automatically when you use your card at Saks or on Saks online.
  • It is hard to get full value from the airline credit. The travel credit on the Amex card is much less useful than the travel credit from the Sapphire Reserve, Citi Prestige, and Altitude Reserve cards.

    • It only covers incidental expenses like baggage fees and onboard food, not airfare, or even seat upgrades. And it only pays for fees on a single airline that you choose at the beginning of the year. Odds are you have ways to avoid these fees on airlines you fly frequently, and you might not be able to take full advantage of the credit, if you choose a less frequently flown airline. It is very rare for people to be naturally able to take full advantage of this credit.

    DeltaGiftCard.jpg

    However, if you are willing to work harder, there is a “trick” that allows you to get full value from the airline incidental credit. Even though it is technically against the terms-of-use, Amex often refunds gift card purchases from certain airlines. You can then use these gift cards to pay for airfare at a later time. So, if a little web research indicates that small-denomination gift card purchases are still being credited for your favorite airline, you take the time to purchase the gift cards, and then remember to use them later, you can easily take advantage of the entire credit, dropping the effective annual fee by another $200. Get Full Value from Your Airline Incidental Credits.

Depending on how fully you can use the Uber and Airline Incidental credits, the effective annual fee ranges from $150 - $550. If you don’t frequently use Uber, and don’t want to play gift-card games with the airline incidental credit, you’ll might get very little benefit, and bear the full brunt of the $550 annual fee. On the other hand, if you can take full advantage of both credits, you’ll get the annual fee down to $150—the same range as the other cards.

Once you estimate how much of the credits you are likely to use, you should also subtract the amount of extra rewards you expect to earn, by using the card to make your out-of-pocket airfare purchases. Then you need to decide whether you value the extended lounge access, elite hotel status, and Fine Hotel and Resorts program enough to justify whatever is left of the annual fee.

Amex Platinum Business Card

If you decide to get the Amex Platinum card, you should consider the business version instead. The business card costs $100 less, and gets all the valuable unique benefits of the personal card, except for the Uber credit. And it gets a few interesting extra benefits, that you only get from the business version.

  • It lets you redeem any of your Membership Reward points, to pay for certain airplane tickets, at a value of 1.54 cents each. While you should be able to get more value than this, by transferring your Membership points to airline partners to redeem for frequent flyer tickets, having the Business Platinum card gives you the option to get solid value from your points, with hardly any effort. It makes the Membership Rewards program much more attractive for people who don’t want to mess around with frequent flyer tickets.
  • You’ll also get 10 Gogo Inflight Internet passes per year and a few other minor benefits, that you don’t get with the Personal card.

The annual fee is $450, which is $100 less than the fee for the personal card. However, you don’t get the $200 Uber credit. If you would get full value from the Uber credit, the business card will wind up costing you more. If you get no value from Uber credit, the business card will wind up costing you less.

You need to have some sort of business to be entitled to get this card. It can be a part-time gig, and you don’t need a special Tax ID number. Amex requires that the business revenue is at least $1,000 per year, but many people believe that is a projection of revenue over the next year, and not a summary of revenue over the previous year. Unlock Extra Reward Points with Business Credit Cards.

There is one other consideration. With the business version, it costs $300 to add an authorized user. With the personal version, you can add up to 3 authorized users for $175 total. If you need to add someone else on the card, so that they get airport lounge access when they are traveling alone, the pendulum can swing back to the personal card.

Altitude Reserve

The U.S. Bank Altitude Reserve card is the least expensive high-end card, and can earn back its cost, with extremely high rewards on mobile wallet payments. The Altitude Reserve’s signature feature is a 4.5% reward rate whenever you use a mobile wallet, like Apple Pay or Google Pay, to make a payment. This is much higher reward rate than you would get from any other card. For each $1,000 you spend with your mobile wallet (at brick and mortar stores, in apps, or online), you’ll earn somewhere between $15-25 in extra rewards. Maximizing the Altitude Reserve Card's Mobile Wallet Rewards.

  • Plus, you’ll get 12 Gogo Inflight Internet passes per year. The Altitude Reserve costs $400 per year, but comes with an automatic $325 travel credit, making the effective annual fee $75.
  • Keep in mind that this card only has limited airport lounge access—you only get 4 visits per year (and 4 total guest visits). Since you are likely to want at least one of the other cards that offers full access, this isn’t a big deal. But if this is going to be your only premium card, you’ll need to live with more limited lounge access.

For many people, the unique benefits aren’t amazing, but they easily outweigh your $75 in out-of-pocket expenses.

We consider it indispensable for people who can spend at least $5,000 on mobile wallet payments each year, and who want to fully optimize their reward earning. But it is an easy card to pass on, if you don’t want to deal with the added complexity of integrating this card into your point-earning routine.

The Hilton Aspire Card

The Hilton Aspire card provides good value for anyone who can take advantage of its free night certificate and various annual credits. You get an annual $250 airline incidental credit, that is otherwise identical to the one from the Amex Platinum card, an annual $250 credit for paying your bill at a Hilton Resort, and an annual free weekend night certificate good at almost any of Hilton's most expensive hotels.

If you are willing to use the "gift-card trick", or can otherwise get good value from the Amex Incidental Airline Credit, and can expect to use the resort credit and free hotel night certificate every year, you can easily get more value than the $450 annual fee. The credits alone are worth $500 per year, and the free hotel night can be worth even more than that. In addition, you'll get automatic Hilton Diamond status, good for free breakfast and lounge access.

The SPG Luxury Card

The SPG Luxury Card is somewhat interesting for its annual free night certificate. For some people it also provides a possible path towards high-level Marriott / SPG Status, and/or can be the most cost-effective way to get airport lounge access. Its $300 Marriott / SPG credit can be used to offset actual room charges, and not just incidental expenses. Most people should be able to take full advantage of this credit, and lower their out-of-pocket cost for the card to $150.

Every year, you'll receive a free night certificate. Unlike the certificates from the "regular" Marriott and SPG cards, the Luxury card's certificate is capped at 50,000 points. 50,000 Marriott / SPG points are valued at $350, and can be used for free nights at many nice hotels, even in expensive locations. Of course, the certificate is less valuable, because it has less flexibility than 50,000 actual points, and expires in 1 year. You also get Marriott / SPG Gold status, which comes with some minor benefits.

Given that the annual free night certificate and hotel credit are somewhat more valuable than the annual fee, the SPG Luxury card can be a very inexpensive way to get airport lounge access, if you don't already have it from other cards. However, it would be worthwhile to investigate the Hilton Aspire card as a potentially better alternative.

Marriott / SPG Platinum status is the level that comes with free breakfast and lounge access (at most hotels), and free room upgrades to the best available room (including regular suites) at check-in. The Luxury card allows you to receive Platinum Status by spending $75,000 with the card in a year. Assuming you have a way to generate this amount of spending, it could conceivably be worthwhile to take this path, as this is a compelling status level and can last for up to two years. You'll need to stay frequently enough to get enough benefit, but not so frequently that you would naturally earn this level of status.

CNB Infinite Card

Some people should consider the CNB Visa Infinite card (if you can get it) for its reusable $100 airfare credit. This card is one of only three cards, along with the UBS card and the no-longer-available-to-new-signups Ritz Carlton card, that comes with the valuable “Visa Infinite $100 Airfare Benefit”. Every time you book a domestic economy airplane reservation for two or more people, you get a $100 refund. For example, if you booked a quick getaway for two people on flights that cost $180 each, you would wind up paying $260, instead of $360. If you fly as a couple or family on several domestic flights per year, these rebates can really add up. You’ll also get 12 Gogo Inflight Internet passes per year. Lua error in Module:Link at line 366: attempt to index field '?' (a nil value).

However, it can be difficult to get this card. You need to apply in-branch. Most of the branches are in California and Nevada, but they have “entertainment industry” branches in New York City, Nashville, and Atlanta, and a trust office in Wilmington. You are also likely to have to produce paperwork detailing your financial position, rather than just filling in a quick application form.

The annual fee is $400, but you get a $250 automatic airline incidental credit on domestic flights (per cardholder). Unlike Amex’s credit, this works for any airline. Depending on how much money you spend on these purchases, or how willing you are to try to get around the terms-of-use by buying airline gift cards, this credit can put a big dent into the annual fee. Uniquely, every authorized user of the Crystal Infinite card gets their own travel credit. Therefore, it is possible to take advantage of multiple credits per year, and more than completely offset the annual fee. Get Full Value from Your Airline Incidental Credits.

UBS Infinite Card Guide

The UBS Infinite Card is a less desirable option for taking advantage of the Visa Infinite $100 airfare credit. It has a $495 annual fee and a $250 airline incidentals credit that is good on only a single airline. In addition, there is no online access to manage your card or your points, unless you have a separate cash management account with UBS (and no online applications either).

On the plus side, it does come with up to 24! free authorized users, primary rental car insurance, 12 Gogo inflight wi-fi passes, and airport lounge access.

The Sapphire Reserve Card

The main reason to hold onto the Sapphire Reserve card is for its reward earning rates. If you’ve read our recommendation for the best general-purpose reward card, you know that we recommend that most people get the Sapphire Reserve / Freedom Unlimited combination to earn great reward rates on travel, restaurants, and any purchases which doesn’t qualify for a category bonus on your other credit cards. The Sapphire Reserve has a $450 annual-fee, but an automatic $300 travel credit makes the effective annual fee only $150.

If you decide on an alternative option for your general-purpose reward card, it can still make sense to get the Sapphire Reserve, just for the high reward rates on travel and restaurant spending. However, unless you spend a lot of money in these categories, or don’t expect to have lounge access through another card, you may be better off using other cards instead. For example, the Uber Credit Card has no annual fee and earns 4% on dining. For every $1,000 you spend on restaurants, you are only getting an extra $20 on rewards from the Sapphire Reserve. The Citi Prestige Card and Altitude Reserve Card earn compelling rewards on travel. If you are getting either of these, you’ll get less value from the Sapphire Reserve’s bonus rewards.

Obtaining continuous airport lounge access

Free access to airport lounges is one of the most valuable benefits of premium credit cards. Most people are going to always want one card that provides this benefit.

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  • If you decide you want to make one of these cards part of your core credit card collection, you’re all set. If you are planning to hold onto the Citi Prestige for its 4th night free benefit, the Amex Platinum or Ritz cards for their unique blend of benefits, the Sapphire Reserve for its reward earning rates, and/or one of the Infinite cards for the Visa Infinite Air Credit, you’ll already have a card that gives you ongoing lounge access.
  • You may want to spread out your Amex Platinum applications for access to additional lounges. The Amex Platinum card provides access to additional lounges, beyond the Priority Pass program, most notably the Amex Centurion lounges. If this is important to you, you should spread out your Platinum card applications.

    • There are currently four different versions of the Platinum card that don’t have access restrictions, and that either have a valuable signup bonus or a waived first-year annual fee—the regular, Schwab, Ameriprise, and small-business versions. By signing up for a different one each year, you’ll have ongoing access to the additional Amex lounges (and the other benefits), while you are collecting each card’s signup bonuses. Hopefully, other versions will become available sometime over the next five years, and you can extend this strategy even further. Alternatively, you could try cancelling the Ameriprise version after the initial year, waiting a few months, and then re-applying.

    Even if you want to permanently hold onto an Amex Platinum card, you are better off signing-up for a different version each year, and saving your favorite version untill last.

  • Each person will need their own card, if they want to access lounges while travelling separately. While each card lets the cardholder bring in at least one guest, this doesn’t let another member of your family access a lounge without you. To do this, they will need their own card, or you will need to pay to add them as an authorized user. Only the Ritz Carlton card allows you to add authorized users for free, and gives them lounge access.
  • If you need lounge access for more than two people, you may need to spread out your non-Amex applications. The Platinum card provides access to the largest number of lounges, but it only allows two guests per visit. Many of the other cards allow an entire family, or even an unlimited number of travelling companions. If both adults have access to their own Platinum card, you are set. However, if that isn’t possible, and you aren’t holding onto another premium credit card, like the Citi Prestige, you can spread out your applications, to extend the period of time, when you have at least one card that provides the right level of guest privileges.

Holding onto a premium card for travel and restaurant spending

The best reward rates for travel (and restaurant) spending are primarily available from high-end reward cards.

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  • If you have an Amex Platinum card, you probably want to use it for your airfare purchases. You’ll earn 5x Membership Reward points, valued at 7.5 cents per dollar, which is much higher than any other card. However, unlike other options, such as the Sapphire Reserve and Citi Prestige card, the Platinum card doesn’t provide most automatic travel insurance benefits. So, depending on the risk of covered trip cancellation or delays, you may want to settle for a lower reward rate. Also, unless you have the business version of the Platinum card, there are no good redemption options other than frequent flyer tickets.
  • It can be worth getting the Sapphire Reserve card, just for it's bonus rewards on travel and restaurant purchases. It earns 3x Ultimate Reward points, valued at 5.1 cents per dollar, on both of these categories. For every $1,000 you spend on restaurants, you'll earn an extra $10 in rewards, compared to the no annual fee Uber Credit Card. For every $1,000 you spend on travel, you'll earn an extra $20 in rewards, compared to the Uber card, or an extra $5 in rewards compared to the Altitude Reserve card. Even if you already have the Citi Prestige card, it is somewhat better to earn 3x Ultimate Reward points, than 3x Thank You points.

    • Depending on how much you spend on restaurants and travel, it can be easy to earn more in additional rewards, than the Sapphire Reserve's effective annual fee of $150. For example, if you use your Sapphire Reserve for $5,000 restaurant spending, and $3,000 of travel spending, you will be around breaking even.

  • If you can't get the Sapphire Reserve, don't spend enough money on travel per year, and already want to get the Citi Prestige or Altitude Reserve card, you’ll probably want to use one of them for your travel spending. However, you’ll need to avoid the Citi Prestige card, if you aren’t interested in redeeming your points for frequent flyer tickets, as that is its only reasonable redemption option.
  • If you can't get the Sapphire Reserve, and don’t have one of these cards, you might want to get one just for your travel spending. For every $1,000 you spend on travel, you'll earn about $15 in extra rewards compared to the Uber card. For example, if you spend at least $5,000 on travel with the Altitude Reserve card, you'll earn enough extra rewards to offset the card's $75 effective annual fee.

Side-by-side comparison

Chase Sapphire Reserve Amex Platinum Card Citi Prestige card U.S. Bank Altitude Reserve Hilton Aspire
Points Earning
Type of points Ultimate Rewards Membership Rewards ThankYou Altitude Hilton
Bonus Categories 3x Travel

3x Restaurants

5x Airfare, prepaid hotels through Amex travel 3x Airfare

3x Hotel

2x Restaurants

2x Entertainment

3x Travel

3x Mobile Wallet

7x Flights and rental cars with Amex travel

7x Restaurants

14x Hilton

Lounge Access
Locations Priority Pass Priority Pass

Centurion

Delta

Priority Pass Priority Pass (4 times only) Priority Pass
Guests 2 2 (none at Delta) Family or 2 1 per visit 2
Other Benefits
Primary Rental Car Insurance Yes Yes
Global Entry Fee Credit Yes Yes Yes Yes
Hotel Elite Status Hilton Gold

Marriott Gold

SPG Gold

Hilton Diamond
Gogo inflight Internet passes per year 10 (business version only) 12
$100 off domestic coach airfare for 2 or more people
4th night free at any hotel Yes
Other notable benefits Fine Hotel Resorts

Amex Offers

Discount Airfare Program

Boingo Wi-Fi

Annual free night certificate
Credits
Travel Credit Applies $300, any travel $200, airline incidentals w/1 airline $250, any airfare $325, any travel $250, airline incidentals w/1 airline
Per Year Cardholder year Calendar year Calendar year Cardholder year Calendar Year
Other credits $15/month ($35 in December) for Uber rides or Uber eats. 2x $50 credits at Saks. $250 resort credit (cardholder year)
Applies Automatically Automatically Automatically Automatically Automatically
Signup Bonus
Bonus 50,000 points 40-100,000 points 40-50,000 points 50,000 points 100,000 points
Spending Requirement $4000 $5000 $4000 $4500 $4000
Annual Fee
Base Fee $450 $550 $450, $350 for Citigold $400 $450
Authorized card Holder $75 $175 for up to 3 $50 $75 $0



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