@Crashem wrote:
OP,
In terms of the right card, based on your comments, it is a fairly complex decision as to what will maximize benefits. I'll give my recommedations first. I'll try to explain my reasoning afterwards but not sure if I'll do a good job given the complexity of the thinking and my ability to write it up.
Based on your monthly spending of up to 3k and main goal of "helping" out with upcoming Europe trip, I would not be looking for which card fits my spending the best, but which card gives me the biggest bang for my spending. In other words, I would be looking at which cards offer the most and most useful bonus points. If that is the case, then the contenders are more obvious; Starwood Preferred (30k), CSP (40k), Barclay Arrival (40k).
Why do I say go for the bonus miles? Think of it in this way. Value of card bonus wise can be measured in a few ways:
1) Points earning structure: How many points/miles/cash back you earn per dollar spent? You look at things like category that get more than 1% etc. and see which matches your spending pattern the most.
2) Value of points/cash back/miles: Not all points/cash back/miles are equal. Your goal is to get over 1 cent per point/cash back/miles in value. Typically, only miles can offer a method to get much higher than 1 cent per point value, but even then primarily if you use it to get business/first tickets. The important thing however is that you have enough points etc to actually use the points. This is the big gotcha in airline miles and even with cash back cards as they may have certain minimums.
So in any case, your goal is to get as much value per dollar spent. The overall goal should be at least $2 cents per dollar spent. Since your annual spending is around $36K, your goal is to get $720 worth of value minimum. Airline miles are less useful to you, as your spending level makes it very difficult for you to get tickets unless you are willing to wait a couple of years or so and have very flexible schedule. Basically, the bonus cards give you so much points right away, it is hard to beat their value at your spending level.
So given your profile and assuming you can qualify for any card, I would recommend you get 2 cards:
1) AMEX Starwood Preferred: starwood points are extremely valuable/useful, but no bonus point category. However the main reasons to get this card is two fold. One, the bonus points are great and 30k and 30k is enough to be useful. 2nd, the AMEX will be backdated and be helpful for your credit.
2) Either Fidelity 2% card or take your pick from one of the other cards that best match your spending among the cards with good bonuses.
+1. Some solid advice here, and I'll toss out another one as well.
The Club Carlson Visa offered through U.S. Bank will help with your hotel costs if you plan to travel to Europe (since this is where they have their best hotels). The initial signup bonus, free final night on a points redemption and automatic gold status is easily worth the annual fee. In addition the 40k annual bonus gives additional incentive to hold on to the card for future trips, since you travel yearly at a minimum.
EX 798, EQ 789, TU 784
American Express Platinum (NPSL) || Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Barclays American Airlines Aviator Red World Elite Mastercard - $20,000 CL || Chase IHG Rewards World Mastercard - $25,000 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL || Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank Hilton Reserve Visa Signature - $20,000 CL || J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
