Best Mileage Card

[AZHeather]

I started rebuilding at the beginning of the year and made a lot of progress very quickly.  Even though I have no baddies, no BK, and my last late (on a car payment) was back in early 2009, I still consider myself a "rebuilder" because I am working on raising credit limits on the cards that I got earlier this year.  After getting my cards and purchasing a new car, I have just been laying low; making my payments, letting inquiries fall off, and keeping my cards active, but utilization low.  Now what I would like to do in June is get another card that provides me with airline miles.  That being said, I have started my research into the right card.

Supposedly, overall, the best mileage card is the Capital One Venture card.  Unfortunately, in order to get one they require you to have a card with a $5k limit for at least 3 years (according to their website).  I do not have that.  So, I would like some opinions from all of you as to what you believe to be the best mileage card (for someone like me particularly) and why.

I look forward to your responses!  Thank you!

[OptimasPrime]

BofA Travel Rewards isn't as publicized, but matches up favorably with venture. The no af version is 1.5 % on everything plus a 10% bonus ues if you bank with them. There is a af version ($75 I think but not sure)as well that is 2% on everything, Seems pretty easy to redeem rewards and both come with concierge service free (though I haven't tried it yet).

Another added benefit is that bofa is usually one hard pull whereas cap one pulls all three bureaus.

[Cdnewmanpac]

The venture card doesn't accrue miles (despite what Alec Baldwin says). You get two points per dollar spent. You then buy tickets using the card and they give you a statement credit of $1 for every 100 points. I may be slightly off on the details, but the point is that it isn't miles. Used properly, 1 mile through programs like united or southwest are worth more than that. A few cards that let you convert points directly to miles are Amex green, gold and platinum, Amex Starwood, chase sapphire preferred. 

[AZHeather]

Anyone have any experience with the Discover Escape card?  I already have a Discover More and was told that after having it for 6 months I can apply for an Escape card (apparently an individual can have a max of 2 Discover cards).

[trumpet-205]

Discover Escape is not a mileage CC either.

A mileage CC is a CC where you earn miles that can be used on airliner's frequent flyer program. Discover Escape/Miles, Capital One Venture, BofA Travel Rewards, etc are CCs that you earn points which can be redeemed as statement credit for travel expense. These points CANNOT be transferred to frequent flyer program.

An example of mileage CC is Southwest Chase.

You have to ask yourself this,

* Do you travel often? How often?

* Do you fly a particular airline?

* Do you stay at a particular hotel?

[AZHeather]

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@trumpet-205 wrote:

Discover Escape is not a mileage CC either.

A mileage CC is a CC where you earn miles that can be used on airliner's frequent flyer program. Discover Escape/Miles, Capital One Venture, BofA Travel Rewards, etc are CCs that you earn points which can be redeemed as statement credit for travel expense. These points CANNOT be transferred to frequent flyer program.

An example of mileage CC is Southwest Chase.

You have to ask yourself this,

* Do you travel often? How often?

* Do you fly a particular airline?

* Do you stay at a particular hotel?

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I I am getting ready to move overseas and my family is here, so I know that in the coming years I will be doing quite a bit of flying.  I am okay with cards that allow the points to go towards the purchase of airline tickets and would really rather not pigeon hole myself to just one airline.  Maybe a points card is the better way to go??

I am glad I started looking into/researching this so far in advance of making a decision!

[Jazzzy]

I love my Delta AmEx. Delta is one of the most prevalent airlines in our area, so it works because of that. I also don't have to pay a fee for checked bags. Plus there is a companion ticket that can be used once a year.

As said above, you should be able to get more bang for your points with an actual airline card. I can use 40,000 miles, for example, when the ticket would have been $700-800. When you are earning points instead of miles, they are usually only worth a penny. The Venture where you get two points per dollar spent would work out well, however....when the time comes.

[AZHeather]

Do most mileage cards require you to have a $5,000 card for a least a year?  I know that the Venture card (although it is points not miles) requires that, and I have read on some other posts that some "thought" that was the case on most mileage cards.

[Cdnewmanpac]

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@AZHeather wrote:

Do most mileage cards require you to have a $5,000 card for a least a year?  I know that the Venture card (although it is points not miles) requires that, and I have read on some other posts that some "thought" that was the case on most mileage cards.

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No. Most visa signature cards (which require a minimum 5000 cl) are easier to obtain if you already have limits greater than 5k. But cards that aren't visa signature, such as Amex Starwood Preferred Guest, Amex Delta Gold or United Explorer do not have such requirements. Since you will be living overseas, you really need to pay attention to what the card charges for foreign transaction fees and how widely the network is accepted. For example, I generally recommend the Amex starwood preferred guest card as a good all around travel card (starwood points can be converted to miles with multiple airlines), but they charge a foreign transaction fee, which pretty much negates the reward benefit. 

Honestly, the ideal card for you would be the Chase Sapphire Preferred: You get 2 points per dollar for travel expenses and restaurants, you can convert those points to miles on many airlines (including United and Southwest) and there is no foreign transaction fee. Unfortunately, CSP is a visa signature card and you are more likely to get one if you already have a card with a limit greater than 5k. Still, if you don't have many inquiries, I'd apply for that one anyway. If you get rejected, Chase is really good about reconsideration. Call the number in the sticky and explain that you are moving overseas. 

If you can't get that card after recon, then consider one of the cobranded cards such as amex delta gold, united explorer or US airways barklaycard (or look for an airline card that routinely services the country you are moving to).

[AZHeather]

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@Cdnewmanpac wrote:

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@AZHeather wrote:

Do most mileage cards require you to have a $5,000 card for a least a year?  I know that the Venture card (although it is points not miles) requires that, and I have read on some other posts that some "thought" that was the case on most mileage cards.

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No. Most visa signature cards (which require a minimum 5000 cl) are easier to obtain if you already have limits greater than 5k. But cards that aren't visa signature, such as Amex Starwood Preferred Guest, Amex Delta Gold or United Explorer do not have such requirements. Since you will be living overseas, you really need to pay attention to what the card charges for foreign transaction fees and how widely the network is accepted. For example, I generally recommend the Amex starwood preferred guest card as a good all around travel card (starwood points can be converted to miles with multiple airlines), but they charge a foreign transaction fee, which pretty much negates the reward benefit. 

Honestly, the ideal card for you would be the Chase Sapphire Preferred: You get 2 points per dollar for travel expenses and restaurants, you can convert those points to miles on many airlines (including United and Southwest) and there is no foreign transaction fee. Unfortunately, CSP is a visa signature card and you are more likely to get one if you already have a card with a limit greater than 5k. Still, if you don't have many inquiries, I'd apply for that one anyway. If you get rejected, Chase is really good about reconsideration. Call the number in the sticky and explain that you are moving overseas. 

If you can't get that card after recon, then consider one of the cobranded cards such as amex delta gold, united explorer or US airways barklaycard (or look for an airline card that routinely services the country you are moving to).

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That is a good point I had not yet considered...international charges.  Thank you.

If I were to decide on Chase, I already have a good, long standing relationship with them (paid car loan and several active checking and savings accounts), so hopefully that will help with a recon, if even needed.