MyCardBlog

Brad has previously sent me some results about his business mini App-O-Rama (AOR). He has got a lot of sign-up bonus and moved some money to his high rate online CDs. He told me that his current business balance to credit limit ratio is about 55%. It’s pretty high but it’s in his business report which will not affect his personal credit report. SO it’s not a big deal. Yesterday afternoon he sent me an email about his favorite credit cards.

He has about 13 credit cards now but he only selectively use several of them to maximize his rewards.

Chase Freedom Card: This is by far his favorite card (according to his statement). You can get 3X the rewards where you spend the most automatically. In order to get most from this card, you have to know what are the 15 categories that will give you 3% cash back. He currently uses this card to pay his cable and cell phone bills. Since He shops a lot at Mejier, he uses this card at Mejier. He can’t get 3% cash back at Wal-Mart stores by using this card but he can still get 3% cash back at Mejier which is still counted as grocery store by Chase. (I have a post about this. We have confirmed to have 3% cash back at Mejier—a major retailer serves Midwest America Area.) Geez, this save him a lot!

Citi Professional Card with ThankYou Network: Actually, the reason why he wanted to apply for this card is to get the 10,000 bonus ThankYou Points. Although he can get 3 ThankYou Points at restaurants, gas stations and office supply merchants, it’s not very intriguing to him. And the “ThankYou Network” program is not as good as 2 years ago. However, he doesn’t have any other better credit cards for shopping at Staples and Office Depot. Besides, he also uses this card at restaurants.

Starwood Preferred Guest Business Card: He got this card when I was playing business App-O-Rama. The reason why he uses this card for every other purchase is he agrees with my opinion that this card can actually gives him more than 4% cash back if he travels a lot. He recently redeemed 2 night stays at Chicago for only 4000 starpoints. He really likes it very much!

I believe most of us would agree that using a lot of credit card is not very wise. Selectively and combinationally use credit card is the best way to maximize your rewards. I have my own favorite rewards credit cards. If you have better ideas or want to share your stories about credit cards, please feel free to drop me a line at cardoffer8 @ gmail.com.