Credit Tips: What is a Better Backup Credit Card?

Posted On: August 1, 2006

milavant
Credit Expert (100+ Posts)

Joined: 11 Nov 2003
Posts: 108

Posted: Tue Nov 11, 2003 12:32 pm Post subject: Which is Better Backup to AMEX CashbacK?

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I have AMEX cashback, Chase Perfectcard, and Bank One Free Cash Rewards.

I use AMEX cashback first, and usually hit the maximum tiers (3% for gas, groceries,drugstores, etc. and 1.5% everywhere else) quite quickly. Infact, my new rebate year started 9-1 and I am already there.

I have been using the Chase Perfectcard as a backup to AMEX, plus for all gas (to get the 3%). It pays 3% on all gas and 1% everywhere else, and is credited on the next month’s statement.

I also have a Free Cash Rewards Platinum Visa from Bank One that pays 1 point for every dollar you charge. When you reach $2500 you can claim a gift certificate or $25 cash (I always prefer cash). This works out to a straight 1% card. I also have all of my banking business at Bank One.

Since I hit the 3% on gas pretty quickly with AMEX (which also pays annually as a credit to your balance) and all gas stations take AMEX, is there ANY redeeming quality that the Bank One card has (over the Chase Perfectcard) which would make it more attractive as a #2 card behind AMEX? I could find none.

I just want to make certain the order in which I am using these cards is the best order possible.

Author: Eugene
Posted: Tue Nov 11, 2003 6:01 pm
Post subject:

Your order is exactly as it should be. Chase Perfect has no limits on rebates, right? Then that means that you do not use Bank One at all? I would use it at least once every year or so, or charge $2500 on it once in a while, so that there is some activity on the card.

Author: Guest
Posted: Wed Nov 12, 2003 3:33 pm
Post subject: What is a Better Backup Credit Card?

Eugene, I use it for BIG purchases (where I can score $2500 fast in order to get the 1% with minimum waiting time) when AMEX is not accepted,and I keep it in my ’sock drawer’, not in my wallet with the other two.

Thanks for your advice !

Author: Ira
Posted: Wed Nov 12, 2003 8:34 pm
Post subject:

Depending on how much gas you use you might want to consider the AAA Financial Services card from MBNA. This one pays an instant 5% rebate on all gas purchased at the pump, regardless of brand. I drive 40,000+ miles a year and I love that card!