The Four Credit Cards That I Want But Don’t Have

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A couple of days ago I wrote about the 21 credit cards that I presently have. All but a couple of those are cards that I plan to hold onto long term, given the value that I get out of them. A couple of readers ask me to write a post about the credit cards that I don’t have but want to get, so I thought would be an interesting topic for this post.

Specifically, there are only two credit cards presently available that I want but don’t have, and two credit cards that will be introduced soon that I’ll really want.

The two credit cards I want that are already available

Let’s start with the two credit cards that are already available.

The Ink Business Preferred℠ Credit Card

Chase introduced this business card last year, and it’s fantastically rewarding. For one, it offers a welcome bonus of 80,000 Ultimate Rewards points upon completing minimum spend, which I consider to be the best welcome bonus available on any card at the moment (I value those points at ~$1,360).

The card has a reasonable $95 annual fee, and offers triple points on travel, shipping purchases, internet, cable, phone services, and advertising purchases made with social media sites and search engines, for up to $150,000 of combined purchases per year.

On top of all that, the card offers some great protection benefits, my favorite of which is the cell phone protection, where those with the Ink Business Preferred℠ Credit Card can get up to $600 per claim in cell phone protection against covered theft or damage for you and your employees listed on your monthly cell phone bill. In order to take advantage of this you need to pay your cell phone bill using the Ink Business Preferred Card, and you’re limited to three claims in a 12 month period, with a $100 deductible per claim. That’s an awesome benefit, especially given how expensive cell phones have become nowadays.

Why don’t I have this card? Because it’s subjected to Chase’s “5/24 rule,” meaning you can’t typically be approved if you’ve opened five or more new card accounts in the past 24 months. Unfortunately I’ve exceeded that limit, so I’m not eligible.

The Blue Business℠ Plus Credit Card from American Express

This is a no annual fee card that American Express introduced last year, and it offers 2x Membership Rewards points on the first $50,000 spent annually. It’s pretty awesome that the single best card for non-bonused spend is also one without an annual fee. I value Membership Rewards points at ~1.7 cents each, so to me this card offers the equivalent of a ~3.4% return.

Ford applied for this card last year, and I plan on picking it up soon.

Why don’t I have this card yet? Because American Express typically limits you to having five of their credit cards at any given point (this excludes charge cards, like The Platinum Card® from American ExpressThe Business Platinum® Card from American Express, and The Business Gold Rewards Card from American Express OPEN).

At the moment I have five American Express credit cards — the Amex EveryDay® Preferred Credit Card from American Express, the Starwood Preferred Guest® Credit Card from American Express, the Starwood Preferred Guest® Business Credit Card from American Express, the Hilton Honors™ Surpass Card from American Express, and The Blue for Business® Credit Card from American Express, which Amex discontinued last year.

My plan is to cancel the Blue for Business Card this year and replace it with The Blue Business℠ Plus Credit Card from American Express.


I love redeeming Amex points for Star Alliance redemptions through Aeroplan

The two credit cards I want that will be introduced soon

Now let’s talk about the two credit cards that are being introduced soon that I think I’d like to get, based on everything I’ve heard.

The Hilton Honors™ Aspire® Card

Later this month American Express will be introducing a new premium credit card (with a $450 annual fee), called The Hilton Aspire Card.

The marketing bullets of this card are as follows:

  • 14X Hilton Honors Bonus Points at hotels and resorts in the Hilton portfolio worldwide
  • 7X Hilton Honors Bonus Points on flights booked directly with airlines or amextravel.com, car rentals booked directly from select car rental companies and at U.S. restaurants
  • 3X Hilton Honors Bonus Points on other purchases
  • Complimentary Hilton Honors Diamond status
  • One Weekend Night Reward at a hotel or resort in the Hilton portfolio with your new Card and each year of Card Membership
  • A second Weekend Night Reward at a hotel or resort in the Hilton portfolio after spending $60,000 in purchases on the Card in a calendar year
  • Unlimited Priority Pass™Lounge passes to ease the airport experience
  • $250 Airline incidental fee statement credit
  • $250 Hilton resort statement credit
  • $100 on-property credit at Waldorf Astoria Hotels & Resorts and Conrad Hotels & Resorts when booking the exclusive Aspire Card package
  • Access to 24/7 American Express concierge
  • No foreign transaction fees
  • $450 annual fee

Most significantly, you receive Honors Diamond status for as long as you have the card, you receive a $250 annual airline incidental fee credit, a $250 Hilton annual resort credit you receive, and an annual free weekend night certificate, and much more. In many ways this card seems too good to be true, and I can’t wait to apply for it.


Honors Diamond status comes with guaranteed executive lounge access

The new Marriott Rewards Premium Amex card

While we know all the details of the new Hilton co-branded cards (which are being introduced in a couple of weeks), the details of this are a bit more limited as of now. In early December we learned that American Express and Chase will both be issuing Marriott Rewards credit cards in the future. As part of this:

  • Amex will offer super premium and small business cards
  • Chase will offer mass consumer and premium consumer cards

More details of the above cards will be revealed in 2018, so it may be another year or so before these cards are actually introduced. However, of these cards, the one that intrigues me the most is the premium card that will be issued by Amex. While I doubt it will be as generous as Hilton’s new premium card, I imagine it will come with some perks that I value as an SPG loyalist. Presently I have the Starwood Preferred Guest® Credit Card from American Express and Starwood Preferred Guest® Business Credit Card from American Express and get value out of both of them, so I imagine I’ll get value out of whatever the new product is as well.


The St. Regis Maldives

Bottom line

Overall I’m really happy with my current credit card portfolio. I have a lot of great credit cards, and I get long term value out of almost all of them. I’d love to get The Ink Business Preferred℠ Credit Card, though I wouldn’t be approved right now. Meanwhile I plan on picking up The Blue Business℠ Plus Credit Card from American Express within the next few months.

I also can’t wait for Hilton’s new premium credit card to be introduced in a couple of weeks, and to see all the details of the new Marriott card portfolio.

Are there any other cards that should be on my radar, other than the above and the 21 I currently have?


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Comments

  1. Question: you say you have both AMEX SPG cards, so let’s say you spent 30K on each card does it extend gold status? Give more credits? Or one you hit 30k on one card there’s no point in doing it on the other one?
    TIA

  2. If I already have the HHonors Surpass Amex, will I need to re-apply for Aspire? I assume it does not make sense to have both.

  3. I’d love to see a post about the City National Bank Crystal Visa card. It takes jumping through hoops to become a CNB member and qualify for the card (on top of possible state restrictions), but it seems really compelling.

  4. I am confused why you want to cancel your current Blue for Business card and apply for the new Blue Business Plus card. Why not just ask for a product change from one to the other? If there’s not sign-up bonus why not save yourself the hard pull and credit history? Am I missing something here?

  5. @ Woodrow — On January 18 your card will automatically be upgraded to the Ascend, which is the new version of the Surpass. However, you’ll be able to apply new if you want the premium Aspire Card. It’s possible you’ll be able to product change, though personally I’d apply new, as I imagine the card will come with a sign-up bonus.

  6. @ John smith — There’s no benefit in terms of earning Gold status. Instead the reason I have both cards is because each gives me two elite qualifying stays and five elite qualifying nights towards status annually, so it helps me requalify for SPG Plat status.

  7. @ Adam — That’s probably what I’ll do. I just meant I was planning on getting that card in place of the Blue for Business, and product changing seems like the best idea.

  8. I am way over 5/24 and was pre-approved for the Ink Preferred with a 100k bonus which bypassed it. You should drop by a Chase bank and inquire.

  9. I have both Hilton cards currently (Citi and Amex) and both supposedly become the lower tiered card.

    1. What on earth will actually happen with that situation?
    2. Will this mean I can’t ever get a bonus for that card, despite never applying for the card and instead just being given that card?
    2b. Should I cancel both cards and preserve the bonus for later if so?
    3. I can’t wait for Marriott to no longer be fully behind Chase’s 5/24 wall. Screw those guys.

  10. @lucky – so if I understand you correctly once I spend 30k on one of the SPG cards there’s no point in spending another 30K on the other?

  11. @Sagar,

    What is your relationship with chase? Why were you preapproved? Or are you saying anyone that drops by a branch will be pre-approved?

    If you want to share a datapoint, share it fully.

  12. @ John smith — Correct, unless you just value the return of one Starpoint per dollar spent, which is still a solid return.

  13. I’m hoping the premium Marriott card has benefits for people who are already Platinum. Something like a resort credit, or waived resort fees, or free parking.

  14. Lucky – the Hilton card will prove to be “too good to be true” as you say as they will stupidly be giving away (admittedly weakest in category) top tier Diamond status. Either Hilton further waters down the status level (though it’s hard to do that, given the few guarantees it has), or they create a new status level on top of that that people have to actually, you know, stay at the hotels to earn.

  15. City National Bank Crystal Visa, $400 AF gets you $1000 in travel credits including AA gift cards or UA gift registry, plus Global Entry, best Priority Pass, etc

  16. Lucky, I was thinking about getting the new Aspire card too, primarily for the Diamond status. I will be staying at the Conrad Hong Kong in May for 3 nights and I was wondering if you think their would be a difference in upgrade possibilities between having Diamond and Gold status? Also, I still have to reserve 2 of the nights and want to know if it makes since to charge the nights to a Hilton card or would another card make more sense(like Citi-premier or Chase sapphire preferred maybe)? I don’t currently have any other plans to stay at a Hilton property this year. Thanks!

  17. @Kyle:

    “I have both Hilton cards currently (Citi and Amex) and both supposedly become the lower tiered card.”
    Just canceled my Citi Hilton card. Didn’t even need to speak to a live human. Don’t need the hassle of this low-tier Amex card arriving in two weeks.

    “I can’t wait for Marriott to no longer be fully behind Chase’s 5/24 wall. Screw those guys.”
    Amen!

  18. Has anyone been able to successfully use AmEx Platinum companion ticket? Everytime we try there is another roadblock; have to purshase first ticket at ighest fare, can’t use for one way only, can’t use fr first class, can’t use for overseas, etc. At $195 annual fee i am not sure this card is worth the fee and am considerign cancelling. Any thougts?
    Thanks. Susan

  19. Lucky, I don’t understand why you would change from the AMEX Blue for Business to the Plus? They both get 2X on all spend, so what is the difference?

  20. @ jimravello — The Blue for Business offered 2x points only for the first year as part of the sign-up bonus. The Blue Business Plus offers 2x points every year.

  21. @Lucky – so I will do a product change for the Plus as soon as my year end 30% bonus hits, thanks.

  22. Lucky, I have to say I am more than a little perplexed that you want several Amex cards but you carry both Starwood cards (and don’t spend anything on them). I understand they help you get SPG Platinum, but would you not be better to just do a mattress run if you got close?

    I saw the other day that you really don’t spend much on them, either!

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