My current credit card strategy is to carry three credits and only three credit cards. I have two that are focused like laser beams to give me the highest cash back possible on the things I spend money on and then a “catch-all” backup card that has no annual limit on rewards and can be used to get everything else. I don’t want to carry any more than three cards and I don’t feel carrying less than three will be as effective. Every additional card is more overhead, it’s another account to manage, it’s another account I can be late on paying, it’s just too much headache and hassle for very little return.
So, which cards do I consider the best? Well that depends on how much you’re spending and where. The “best” card for me may not be the best card for you. I buy groceries but it’s not my largest expense, you may have groceries as your largest; so your optimal card and my optimal card are different.
So, the best way to do this is to analyze your spending, probably best done through a budget, and select from the following list of best cash back and reward credit cards.
Tags: Cash Back
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