Every year around this time, I don’t re-evaluate my reward credit cards but since a whole bunch of other bloggers do, I figured I might as well do the same. My basic strategy is that I don’t really want to use more than three or four credit cards and each one of the cards has to serve a distinct purpose in order to make it into my wallet. Here are the three that currently make the cut and why:
1. Citi mtvU Platinum Select – For Movies & Restaurants
Usually a points credit card is a deal breaker for me, I prefer cash all the way, but I can convert Thank You Reward Points into payments towards my student loan debt so for the benefits I let this one slide. I chose the Citi mtvU card because it offered 5% cash back on bookstores (Amazon.com included), restaurants, and movies. The mtvU card also has the added benefit of giving me points for good grades and paying my bill on time.
3. Citi Platinum Select MasterCard – For Supermarkets
Speaking of the Platinum Select card, I keep this in my wallet because it still offers 2% on supermarkets and drugstores (better than nothing I suppose) and because there really is no reason to cancel the card.
4. American Express TrueEarnings Costco Card – For Everything Else
I shop at Costco when I can and the only cards they accept are debit cards and their own American Express. This card doesn’t have an annual fee if you’re a Costco member (I don’t see a reason why you’d get it if you weren’t) and it gives you 1% on everything payable annually. It’s really just my catch-all card when I don’t get bonuses on anything else.