What’s in my Wallet [May 2019]?

In the space of credit cards, there’s two types: personal and business. Most of us use personal cards as those are what are meant for day-to-day expenses and given to individuals who do not own/operate a business or practice of their own.

Since I started this website as a sole proprietor, I decided to get a business card which could be used to cover expenses towards the site (travel).

What I carry in my wallet?

American Express Blue Business Plus

American Express Gold

Chase Sapphire Reserve

Chase Freedom

Driver’s license

$100 cash

So why those specific cards?

The American Express Blue Business Plus card earns a standard 2X MR points (effectively worth ¢4 per dollar spent or 4%) on all transactions. It does have a 10,000 MR point sign-up bonus (which honestly is NOT a good sign-up compared to the gold card).

I carry the Gold card to use at restaurants and to buy HEB gift cards (to fill up gas) for the 4X earn-rate. Two of our readers were kind enough to sign-up for personal cards using our affiliate links.

The Reserve card has always held a constant place in my wallet for all things travel and dining. Travel expenses earn a flat 3X on parking, flights/train/bus tickets booked at third party websites – something that the gold card does not. Additionally, primary CDW coverage for rentals makes it a must have which recently came of use in a week long Hertz booking.

The Chase Freedom card has a 5X upto $1500 in second quarter on Groceries and I maximize this by shopping at the local HEB. I buy gift cards to use at the gas station as Ultimate Reward points are far more valuable than the cash back I may get from the Discover IT cards. And by earning 5 UR Points worth on average 2 CPP, that’s ¢10/dollar spent.

I prefer using the Freedom Card at HEB until the $1500 quarterly limit is reached. Once that is reached, I’ll switch to the Gold card.

So what would I earn in this quarter?

Including the sign-up bonus and referrals of abouy 20,000 MR points from AMEX and by transferring to travel partners each point can Yield an average value of 2-3CPP.

Would I keep earning this?

Obviously not. The sign-up bonus and referrals definitely make a bigger chunk of the point earning.

Why carry cash?

Cash is King in emergencies or places that do not accept card(s) or charge extra for transactions of low charge. Always carry some cash with you and don’t fully rely on credit/debit cards. Since I’ve been traveling a lot this month, keeping cash at hand is always better.