Techniques for Combining Credit Cards to Maximize Rewards in 2024
Discover the benefits of combining credit cards to maximize your rewards and bonuses. Elevate your points, cashback, and miles with our professional insights.
Why use a mix of credit cards?
Utilizing a variety of credit cards is becoming a trend. Want to enhance your savings quickly? Learn how this tactic can work wonders for your budget.
Advantages of Combining Cards
This strategy offers a multitude of advantages. By combining cards, users can enhance their accumulation of points and miles. Additionally, it can lead to greater cashback in certain categories, maximizing how far your money stretches.
A primary advantage of combining cards is the increased flexibility in earning rewards.
Things to Keep in Mind
Despite the perks, it’s essential to approach this strategy with caution. Poor management can lead to financial challenges.
Managing multiple credit cards involves keeping track of several bills. If you struggle to find time weekly for financial organization, this savvy strategy could backfire.
Be cautious about your credit score. Quickly applying for several cards can have a negative effect. Lenders consider these factors when evaluating your creditworthiness.
However, if you’re responsible with your finances, managing two credit cards can be quite feasible.
Selecting the Ideal Cards to Combine
Understand Your Spending Habits
The initial step in choosing the appropriate cards is to evaluate your spending patterns. Notice where your money tends to flow the most.
Various cards offer unique benefits for specific spending categories. If you frequently purchase groceries and gas, look for cards that provide rewards for those expenses.
Focus on Cashback Categories
The best credit cards to consider are those that provide excellent cashback options. For example, if your spending often includes gas and online shopping, the Citi Custom Cash card stands out as a superb option, letting you earn up to 5% cashback in your chosen category, which can significantly boost your fuel savings.
For your online shopping, think about cards like the Amazon Prime Rewards Visa Signature, which offers 5% cashback on purchases at Amazon, or the Capital One Walmart Rewards card, providing 5% cashback on Walmart online orders.
Combining Cards for Travel Benefits
If travel expenses take up a large chunk of your budget, or if you plan to travel more frequently, think about merging travel rewards cards. You may also want to combine a card that enhances your everyday purchases with one that elevates your travel rewards.
Optimal Card Combinations for Maximum Rewards
Best Cashback Card Combinations
- Chase Freedom Flex + Citi Double Cash: Use Chase Freedom Flex for 5% cashback on rotating categories and restaurants/pharmacies, while Citi Double Cash gives you 2% cashback on all other purchases. This approach keeps things simple while maximizing your rewards.
- American Express Blue Cash Preferred + Discover It: Use Blue Cash Preferred for groceries with 6% cashback and gas outside rotating categories, and pair it with Discover It for 5% cashback on bonus categories, especially since Discover It doubles your cashback during the first year.
Travel Reward Card Combinations
- Chase Sapphire Preferred + Capital One Venture: Use Chase Sapphire Preferred for travel and dining, transferring points to airline and hotel partners, and Capital One Venture to earn miles on all other purchases. This mix maximizes both flexibility and rewards.
- American Express Gold + The Platinum Card from American Express: Use Amex Gold to earn points on dining and groceries, while leveraging Amex Platinum for flights to earn 5x points and enjoy luxurious travel perks like VIP lounges and hotel credits.
Techniques to Maximize Rewards with Multiple Cards
To truly optimize your rewards, staying organized with your finances is essential. Consider utilizing spreadsheet applications to manage your due dates and outstanding balances effectively.
Aligning your spending with current promotions and bonuses is also a smart move. Shopping during these times can create significant savings, stretching your budget further.
Moreover, look into options for securing first-class flights:
