This question comes to my mind often, especially when I have to pay the annual fee on my two credit cards. I primarily use a card that is connected to my most often used airline, but have considering changing to get a better deal. There is a new website that advises individuals on the best ways to stretch their budget (www.wisebread.com) and I noticed today they had a nice article on choosing the most valuable (profitable) credit card. All cards have good and bad aspects; however, this article spells out some excellent choices.
http://www.wisebread.com/top-5-travel-reward-credit-cards?ref=nav
I found it interesting that they came up with the same #1 choice as several other stories I have read in magazines of all types. It is the Chase Sapphire Preferred® Card
Chase Sapphire Preferred® has a booking site and you get 20% off travel
booked there if you have the card. The card offers double points for dining and
travel transactions (1 point per $1 on other purchases). No foreign transaction
fees. The annual fee of $95 is waived for the first year. You earn 50,000 bonus
points when you sign up, if you spend $4,000 on purchases in the first 3 months.
That's $625 in travel when you redeem through Chase Ultimate Rewards.
Therefore, by switching cards
you could pickup $625 in free travel the first year, not a bad deal. Will
switching cards every few years hurt your credit rating? Please comment below, especially if you have
experience in this matter. I am curious.
PS – the Wisebread website
appears to be new, and incomplete, not yet a great resource, so I can’t
recommend it other than the reprinted credit card article.
No comments:
Post a Comment