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Unfortunately I don't think "one card" is a realistic thing to shoot for.
As others have said, you definitely want to spread your business with a few banks - across a few different card networks - so that when you travel, if anything goes pear-shaped, you have alternatives.
My strategy (for a few decades) has been two wallets - one with "infrequent cards" and my regular day-to-day wallet.
In the everyday wallet...
and in the "pull out when needed" wallet...
This works for me because I'm both a rewards freak and organized. My husband *HATES* the rotating cards, but appreciates that I get us back several thousand $s in rewards every year, so he puts up with having to have a "cheat sheet" to know when to use which card where
@MJ-san wrote:Unfortunately I don't think "one card" is a realistic thing to shoot for.
As others have said, you definitely want to spread your business with a few banks - across a few different card networks - so that when you travel, if anything goes pear-shaped, you have alternatives.
My strategy (for a few decades) has been two wallets - one with "infrequent cards" and my regular day-to-day wallet.
In the everyday wallet...
- 1 card for high-value rewards/privileges for travel (Amex Platinum)
- 1 card for high-value travel earnings and no foreign trans fees (CSR)
- 1 card for grocery/everyday (unfortunately, because of rotating rewards, I end up having to switch out quarterly which one earns the best...). Maybe a 2nd depending on how the rewards are working. These 2 will be BoA Cash Rewards, Amex BCE, Discover, Chase Freedom, or Sears MC
- 1 card for restaurants (same thing... have to rotate quarterly, or default to Uber Visa for 4%)
- 1 card for everything else (Citi DC, 2% back)
- ...and my Costco Visa which is for gas
and in the "pull out when needed" wallet...
- 1 card with a high limit, low APR to use for anything that I need a few months to revolve (BoA Visa, 6.49%... and when they offer good 0% BT offers on occasion, even better).
- Plus I do believe in store cards when they actually deliver great value, i.e. Target 5%, Lowes 5%, Home Depot deferred billing, Nordstrom 3%+ (depends on when they have double rewards days), Steinmart 4% (when they have double reward days), BBB/WorldMarket 5%, Amazon 5%, TJX Rewards 5%, etc... but I don't normally carry them
This works for me because I'm both a rewards freak and organized. My husband *HATES* the rotating cards, but appreciates that I get us back several thousand $s in rewards every year, so he puts up with having to have a "cheat sheet" to know when to use which card where
Good things to think about for sure. I like how organized you keep things LOL. This is definitely a hypothetical—I’m not planning on going down to only one card
@MJ-san wrote:Unfortunately I don't think "one card" is a realistic thing to shoot for.
I think I could get down to only carrying one as long as I have the rest loaded in Apple Pay.
I will play the Chase Sapphire Reserve but man the Amex Gold is close.
If they ever came out with a card that had 5% cash back on all purchases, you better believe I'd only be using that card - aside from token purchases to keep the other cards open.
Otherwise, my ideal wallet would have a total of 5 cards, each with 100k limits.
@trusty wrote:If they ever came out with a card that had 5% cash back on all purchases, you better believe I'd only be using that card - aside from token purchases to keep the other cards open.
Otherwise, my ideal wallet would have a total of 5 cards, each with 100k limits.
Wouldn’t that be fabulous? Lol. Somebody make that card
@MJ-san wrote:
- ...and my Costco Visa which is for gas
A lot of people don't know it but the Costco card is probably the best for purchasing travel... it doesn't have the high cash back but it includes free trip insiurance and not many card do!
@vV35Hszm wrote:
@MJ-san wrote:
- ...and my Costco Visa which is for gas
A lot of people don't know it but the Costco card is probably the best for purchasing travel... it doesn't have the high cash back but it includes free trip insiurance and not many card do!
It's a very good no-extra-AF card (I like mine) and it does have some travel insurance...but those travel protections are much weaker than what many AF cards offer.
As far as merchandise protections (return, warranty, price, etc.) Costco really is one of the best (even including AF products).
@pinkandgrey wrote:
@wasCB14 wrote:
@rbentley wrote:My library card.
Along those lines, I would think a Social Security card would win.
Joking aside, CSR for travel rewards, a Visa for Costco, and good customer service.
Interesting. Seems like a lot of people love the CSR
And for good reason. Let me add my name to the CSR list.
Easy; my USAA Limitless Cash Rewards Visa. 2.5% cash back on everything.