Credit Card Rewards

Here's what it looks like 

Click here to see the Credit Card Decision Tree

Essentially, I created a Decision Tree to help you understand which cards make sense for where you are in life. I tried to think of the questions that someone would ask me when inquiring about signing up for a new (or their first) credit card. Hopefully this sheet can help you understand what makes sense for you. 

I love credit cards because: They come with perks. Sometimes sign up bonuses. They allow you to buy now, pay later. Which is leveraging Debt. The build your credit score and therefore get you lower rates on loans and mortgages. They sometimes waive foreign transaction fees when abroad. And if there is any fraud on your card, you have consumer rights. With a debt card it's not as easy to get that money back.  

I HATE credit cards because: People abuse them. Sometimes people hang onto their debt for more than a Statement Cycle and think that paying the minimum is fine. As if Chase or Bank of America have your best interest in mind.. nah they have you credit card interest in mind. Holding debt on a credit card can destroy your credit score. And aside from that, credit card perks actually produce a sensation in the neural network in your brain... so it helps you justify an $8 latte because you get 5% back this month. Which brings the price down to $7.60... But ultimately, the reason I hate credit cards, is because the banks have all the control. As a small business owner, I pay 2.4% fees + $0.30 every time you swipe your card. As banks increase rewards on credit cards, they creep up the interchange fees for businesses. And businesses raise their prices to offset that. And so by not using a rewards card you are essentially paying a tax that goes into the pockets of those who do use a rewards card. AND, even though debit card fees for businesses are about 0.5%-1.3%, businesses don't benefit from that either because we've all pretty much opted into paying a predictable 2.4% so we don't get screwed when someone drops their AMEX and it costs us 3.5%. Okay, rant over. 

Long story short: If you want good credit, get a couple no-annual fee cards, turn them all on autopay, and don't go crazy. If you want to take a trip that you otherwise couldn't justify taking, there are some ways to make it work, so your sign up bonus alone could cover a couple round trip tickets to Europe.



Below are my top cards


Chase Ink Unlimited (business)


Chase Freedom Unlimited


Chase Sapphire Preferred


Citi Double Cash Card

Capital One Venture X