Advanced Options for Everyday Spending

For most people, the best option for their everyday spending is the Chase Unlimited combination. If they can’t get those cards, their next best option is usually a good cashback card, like those from Alliant, the State Department Credit Union, and PayPal. However, some people can do even better with different cards, depending on their individual circumstances.

Each of these other options has additional restrictions, fees, or hassles—which makes them hard to recommend to everyone. However, they might be the best option for you.

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The Blue Business Plus card
U.S. Bank Altitude Reserve card
Amex EveryDay Preferred card
Good cards if you frequently travel on Amtrak
Really good cash-back cards
A few less good options

The Amex’s Blue Business Plus card earns 2x Membership Rewards points on every purchase. If you expect to use your points on frequent flyer tickets, Membership Reward points are valued at a minimum of 1.5 cents each. The resulting 3 cents per dollar (or higher) reward rate is better than you can get from ANY other card.
To get good value, you'll need to use your points for frequent flyer tickets. When you are transferring to airlines, a Membership Reward point is probably even more valuable than an Ultimate Reward point. So clearly, 2 Membership Reward points is better than 1.5 Ultimate Reward points.

Just be aware, that unlike Ultimate Reward points, you usually can't get good value with other redemptions. However, if you spend $595 per year to get the Amex Business Platinum card as well, you can receive a 35% rebate when you use your points to purchase certain airline tickets, giving you an easier option to redeem your points, at a total reward rate that works out to 3.08 cents per dollar. More details below.

The Business Plus card doesn’t have an annual fee. But, it does have a high foreign transaction fee, so you’ll need to use another card when you are travelling overseas. You'll also need to use another card when you need to pay the occasional business that doesn't take American Express cards. Like the Altitude Reserve card, the Business Plus card doesn’t come with purchase price or return protection.
The card is available to even the smallest business. It doesn't need to your full-time job and your business doesn't need to be incorporated. Some sites say you need a minimum of $1,000 in revenue, but many people believe that is "projected annual revenue" moving forwards, and not "actual annual revenue" looking backwards. Like all business cards, it is supposed to be used only for business-related purchases, but many people use it for personal expenses, with no problems. Unlock Extra Reward Points with Business Credit Cards.

The Ink Unlimited card

If you are entitled to business cards, willing to use it for your personal spending, another option is to use the Ink Unlimited card, rather than the Freedom Unlimited card, as part of the Chase Unlimited combo. Unlock Extra Reward Points with Business Credit Cards.

Both the Ink Unlimited and Freedom Unlimited cards earn the same 1.5x Ultimate Reward points on every purchase. The card are essentially substitutes for each other.
But, there are some advantages to the Ink Unlimited card. It has a better signup offer (50,000 points versus 15,000 points) and gives you primary car rental insurance (when you rent for business purposes). It doesn't take up one of your Chase 5/24 slots (although it still blocked if you are over the Chase 5/24 limit). And any account balance won't be used when calculating your credit utilization rate on your credit report.
This is a more flexible option than the Amex Blue for Business card. If you are redeeming for frequent flyer tickets, the Blue for Business is a more valuable option. But, if you value the flexibility of using your points on easier redemption options, like using your points to purchase travel or book Hyatt award nights, you may still want to stick with earning Ultimate Reward points.

Getting the Ink Unlimited card, rather than the Freedom Unlimited card, is just a small tweak to our normally recommended Chase Unlimited combo.

U.S. Bank Altitude Reserve card

Unless your highly value and have the flexibility to take advantage of premium-cabin award redemptions and can generate enough points to do so, the Altitude Reserve card earns the highest possible reward rate on many (but not all) of your purchases.

Altitude Reserve Guide

The U.S. Bank Altitude Reserve card earns 3x points on travel purchases and on any payments made with mobile wallets, like Apple Pay. Each point is worth 1.5 cents towards travel purchases, giving you a cashback rate of 4.5%. An increasing number of physical and online businesses will accept Mobile Wallet purchases, and if you have one of a number of Samsung devices, you can use your Samsung Wallet with any credit card terminal that accepts a card swipe. For purchases you make elsewhere, you’ll need to settle for just 1.5%, or use another card.
If you are willing to prioritize using your mobile wallet whenever you can, the Altitude Reserve works like 4.5% cashback card that you can use on a significant portion of your everyday spending. Unless you highly value premium-cabin award tickets, 4.5 cents per dollar is likely better than 1.5 Ultimate Reward points, or even 2x Membership Reward Points.
The Altitude Reserve is a pretty good option for travel purchases as well, earning nearly as much as the best cards in this category.
One drawback is that the Altitude Reserve doesn’t come with “price protection” (which reimburses the difference in price, if you find a cheaper price in the first few months after making a purchase) or “return protection” (which refunds your purchase if a store won’t accept a return). If you feel that these benefits are valuable, you’ll want to stick with another card that provides this benefit (like the Chase Freedom Unlimited or Citi Double Cash cards). Alternatively, you can use one of these other cards for specific purchases where you feel you are more likely to take advantage of these benefits, and use the Altitude Reserve for your remaining spending. Automatic Protection for the Things You Buy with Your Credit Card
If you are willing to deal with the additional complexity, you could use the Altitude Reserve card in conjunction with another great general purpose reward card. You'd use the Altitude Reserve to earn 4.5% cash back whenever you can use your mobile wallet, and you'd use the other card (like the Chase Unlimited combo) with other merchants.

The Altitude Reserve has a $400 annual fee, but it comes with an automatic $325 rebate on travel purchases, which reduces your out-of-pocket expense to $75. You’ll also get other benefits such as 4 free airport lounge visits, and 12 Gogo inflight Wi-Fi passes. You need to be a customer of U.S. Bank to get the card, but cardholders of other U.S. Bank credit cards are supposed to count.

Amex EveryDay Preferred card

If you can’t or don’t want to get a business card, the Amex EveryDay Preferred card is the next best Membership Rewards option. It can earn 1.5x Membership Reward points, value at 2.25 cents, per dollar.

Amex Everyday Credit Card Guide

Most people would be better off earning 1.5x Ultimate Reward points with the Chase Unlimited card, rather than 1.5x Membership Reward points with the Amex Everyday card. In addition, the Everyday Preferred card has a foreign transaction fee, so you’ll need to use another card when you are travelling overseas. You'll also need to use another card with the occasional business that doesn't take American Express cards.
But there are some good reasons to prefer Membership Reward points instead.

When you redeem for frequent flyer tickets, Membership Reward points can be a better option than Ultimate Reward points. Membership Rewards has around twice as many airline partners, giving you more flexibility when redeeming your points. Because they partner with Delta, you have the option of using your points to book non-saver level rewards, useful if you live in a Delta hub (but they don’t partner with United like Ultimate Rewards). Membership Rewards also frequently has transfer bonuses, which can let you get more value from your points.

Introduction to 'Transferable' Reward Points

If you expect to use your points for frequent flyer tickets, there is not much benefit in Ultimate Reward’s additional redemption flexibility. The biggest reason we recommend Ultimate Reward points is because of the flexibility to choose between harder-to-redeem, but potentially more-valuable, frequent flyer tickets; or easier-to-redeem, but usually less-valuable, alternatives like Hyatt hotels stays, Southwest Airlines tickets, and travel purchased through Chase. But, if you are going to be use your points for frequent flyer tickets anyway, especially business and first-class tickets, you won’t be taking advantage of these additional options. You might as well take advantage of whichever program is likely to be better match for your frequent flyer ticket needs.

The Everyday Preferred card's "standard" earning rate is only 1x points per dollar, but if you make at least 30 charges per month, you get a 50% bonus, increasing the reward rate to 1.5x points. With the bonus, the card also earns 4.5x points at supermarkets (up to $6,000 of spending per year) and 3x points at gas stations. Fortunately, there are tricks you can use to make sure you always meet the 30 purchases per month requirement. However, this is one more thing to worry about and takes a little bit of extra effort, which is one of the reasons that we usually recommend the Chase Unlimited combination instead. Tips to Generate More than 30 Charges per Month.

The Everyday Preferred card has a $95 annual fee. It comes with return protection, but it doesn’t come with price protection coverage.

Good cards if you frequently travel on Amtrak

Amtrak points are actually the most valuable travel reward points.

Amtrak Credit Card Guide

If you frequently travel on Amtrak, you might get the most value from a card that earns Amtrak points. When you redeem Amtrak points for train tickets, they are worth 2.9 cents each. So 1 Amtrak point per dollar is slightly more value than you can easily get from 1.5x Ultimate Reward or Membership Reward points (although not the 2x Membership Reward points from the Amex Blue for Business Card or 3x points from the Altitude Reserve cad), and you won't have to hassle with finding good frequent flyer redemptions. On the other hand, you don't have the upside of getting even more value per point (when you use them for particularly good redemptions) or to purchase business or first class frequent flyer tickets.
For one of these card to make sense, you need to spend enough at Amtrak, to be able to redeem most of the points you earn. For example, if you spend $10,000 per year on the card, you’ll need to spend at least $290 per year on Amtrak tickets, to use up each year's points.
The Amtrak World card is usually the better option of the two Amtrak cards It gives you a free companion certificate and upgrade certificate, when you first get the card, and on every anniversary; earns 3x points on Amtrak purchases; and gives you a 5% rebate on award redemptions. In addition, you'll earn 2x points, valued at 5.8 cents per dollar, on any other travel purchase. Only the Sapphire Reserve's reward rate on travel is comparable. For each $5,000 you spend on the card, you'll get 1,000 tier qualifying points (up to 4,000 per year). The card comes with price protection, but not return protection. $79 annual fee.

There is also a no-annual-fee version of the card, that earns lower reward rates, and doesn't provide most of the extra benefits.

Really good cashback cards

A few credit cards have cashback rates that are above 2.5% (what you get from the Alliant card after the first year). However, if you highly value premium airline travel, and you are willing and able to build-up large quantities of points, you’ll always get more value from transferable credit card points, than you would from any cash-ack card.

The Altitude Reserve card, described above, earns 4.5%, but only on purchases you can make with your mobile wallet. The options below work for all purchases.

None of the cards with the highest cashback rates offer “price protection” (which reimburses the difference, if you find a cheaper price, in the first few months after making a purchase) or “return protection” (which refunds your purchase, if a store won’t accept a return). If you feel that these benefits are valuable, you’ll want to stick with another card (like the Chase Freedom Unlimited or Citi Double Cash cards). Alternatively, you can use one of these other cards for specific purchases. when you feel you are more likely to take advantage of these benefits, and use the more valuable card for your remaining spending. Automatic Protection for the Things You Buy with Your Credit Card.

If you have both the Amex Blue for Business Card and the Amex Business Platinum Card, you can earn 3.08% cash back. The Business Platinum card gives you a 35% rebate when you use your points to pay for certain airplane tickets purchased through Amex Travel. You'll receive the bonus for all tickets you purchase on your preferred airline, and for business and first class tickets, regardless of airline.

For example, if you purchase a ticket that costs $400, you'll need to use 40,000 Membership Reward points. But, you'll get 14,000 points back. Instead of getting only 1 cent per point, you get the equivalent of 1.54 cents per point.

With the combination of both cards, you'll be earning 3.08 cents per dollar. Even if you never use your points for (likely more valuable) frequent flyer redemptions, and only use them to purchase airfare, this combination works like a 3%+ cashback card. In addition, you'll always have the upside of using your points for particularly attractive frequent flyer award redemptions, by transferring your points to one of Membership Reward's partner frequent flyer programs.

Blue Business Plus Guide

Amex Platinum Card Guide

For this to work, you need to purchase enough in qualifying airfare per year to be able to use up all your points. You'll also need to choose a preferred airline that you travel on frequently, rather than focusing on an airline that lets you easily get the most value from the Platinum card's travel credit.

You'll need to qualify for business cards and be comfortable using them them for your personal purchases. And, you'll need to be willing to pay the $595 annual fee for the Business Platinum card (which does come with some nice other benefits that can partially offset that fee). You'll also need to use another card with any merchant that doesn't take American Express or to avoid the Blue for Business card's 2.7% foreign transaction fee.

You can earn 3% cash back with the Discover It Miles card. The reward rate on this card is 1.5% cashback, but you'll earn double the reward during the first year.

Discover it Miles Card Guide

It isn't that hard to string together multiple years of 3% rewards. You could cancel after the first year, temporarily switch to another card, and then re-apply. If you share finances with someone, you can alternate signing up for (and cancelling) the card, to continuously earn the first year promotional rate.

Discover cards aren't accepted everywhere, so you'll occasionally need to use another card for your purchase.

If you travel frequently enough with Amtrak to spend you reward points, you can earn 2.9% with the Amtrak Credit Card.
If you have $100,000 in investment or retirement funds, which you would be willing to manage through Merrill Lynch, you can earn 2.625% with the BOA Travel Rewards Card or BOA Premium Rewards Card. That level of assets qualifies you for Bank of America "Platinum Honors" status, which gives you a 75% bonus for the rewards you earn from some Bank of America cards. The reward bonus boosts the earning rate from the Travel Rewards and Premium Rewards card from 1.5 cents per dollar to 2.625 cents per dollar. This is the highest long-term pure cashback rate available from any card.

BOA Travel Rewards Guide

If you have assets at another broker, you can usually transfer them to a Merrill Edge account, and manage them there (at little or no additional costs), to qualify for the higher reward rate.

When you earn Ultimate Reward or Membership Reward points, you have the upside of occasionally being able to use your points for especially valuable free tickets (or hotel nights). With a cashback card, you have the advantage of using your points without much effort. We enjoy the “game” of trying to get the most value from our points and the possibility of outsized redemptions. Plus, we love the feeling of getting “free” travel, even if deep-down we know we gave up real cash money to get those points. Other people may prefer the simplicity of a solid, sure, and steady 2.5-3% cashback.

A few less good options

The United Club card earns 1.5 miles for every $1 you spend. The card has a $450 annual fee, but comes with a United Club membership, several other benefits on United Airlines, and a few other travel benefits. However, 1.5x Ultimate Rewards points is better than 1.5x United miles, because you can transfer Ultimate Rewards points to United, as well as using them with other partners.
The Marriott Bonvoy cards (old SPG Amex card) earns 2 Marriott points for every dollar you spend, with a $95 annual fee. For every 60,000 Marriott points you transfer to airline programs, you get 25,000 miles, with the possibility of earning even more during promotions. They have a much larger group of transfer partners than the other transferable reward programs, frequently allowing you to use fewer miles for your frequent flyer redemptions.

For years, this was this best reward card out there, and the go-to reward card for most of us. But, now there are much better options. Even before Marriott absorbed the SPG program, this card lost its luster. Starpoints were still the most valuable reward point, but earning 1.5 Ultimate Reward points or 1.5-2x Membership Reward points per dollar was a better option, even if you didn't penalize Starwood for their longer than normal transfer times to airline programs. Now that the base earning rate is 2x Marriott points (or .833 miles per dollar), rather than equivalent of 3x Marriott points (1.25 miles per dollar), using the card is an even worse option.