Strategies for Merging Credit Cards to Enhance Rewards in 2024

Why mix different credit cards?

Combining various credit cards is increasingly popular. Need to save more quickly? Discover how this strategy can benefit you and stretch your dollars further.

Benefits of Combining Cards

This approach has numerous benefits. Users who combine their cards can optimize their points and miles collection. Plus, it significantly boosts cashback in select categories, maximizing your spending power.

A key benefit of combining cards is the enhanced flexibility in rewards.

Risks to Consider

Even with these benefits, it’s crucial to use this strategy carefully. Mismanagement can lead to financial difficulties.

Having multiple credit cards means juggling several bills. If you can’t spare some time weekly to manage your finances, this clever strategy might backfire.

Be mindful of your credit score. Applying for multiple cards in quick succession can negatively impact it. Credit issuers take these details into account when assessing your score.

However, if you are financially responsible, managing two credit cards should be manageable.

Choosing the Best Cards to Combine

Know Your Spending Patterns

The first step in selecting the right cards is to analyze your spending. Pay attention to where your money goes the most.

Different cards provide various perks for specific spending categories. If you often shop for groceries and fuel, search for cards that reward these expenses.

Prioritize Cashback Categories

Ideal credit cards to pair are those offering generous cashback rewards. For instance, if you frequently spend on gas and online shopping, the Citi Custom Cash is a fantastic choice, allowing you to earn up to 5% cashback in one category of your preference, thus enhancing your savings on fuel.

For your online shopping needs, consider options like the Amazon Prime Rewards Visa Signature that gives you 5% cashback on Amazon purchases, or the Capital One Walmart Rewards card, which also offers 5% on online purchases at Walmart.

Merging Cards for Travel Rewards

If you find that travel expenses are a significant part of your budget, or you’re planning to travel more often, consider combining travel rewards cards. Alternatively, you might mix a card that benefits your daily spending with another that boosts your travel advantages.

Card Combinations for Maximum Benefits

Top Cashback Card Pairings

• Chase Freedom Flex + Citi Double Cash: Use Chase Freedom Flex for 5% cashback on rotating categories and on restaurants/pharmacies, while Citi Double Cash rewards you with 2% cashback on all regular purchases. This strategy simplifies your card management while maximizing returns.
• American Express Blue Cash Preferred + Discover It: Use Blue Cash Preferred for groceries (6% cashback) and gas outside rotating categories. Pair it with Discover It to earn 5% cashback on bonus categories like gas or online shopping, especially since Discover It doubles cashback in the first year.

Travel Reward Card Pairings

• Chase Sapphire Preferred + Capital One Venture: Use the 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 combo maximizes 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.

Strategies to Enhance Rewards with Multiple Cards

To get the most out of your rewards, it’s crucial to stay organized with your bills. Consider using spreadsheet apps to keep track of due dates and outstanding balances.

It’s also wise to align your spending with ongoing promotions and bonuses. Shopping during these periods can lead to substantial savings, allowing your funds to go further.

Additionally, explore ways to secure first-class flights:

Written by

Team Editorial