Katie Genter is a digital nomad who has traveled full time since June 2017. She writes and edits stories about points and miles, and loyalty programs, often letting her personal experiences color these stories.
Chris Nelson is a credit cards writer for TPG. He specializes in budget travel, hotels, earning elite status through minimal spending and redeeming points for maximum value.
also contributed to this story
November 22, 2024 • 12 min read
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Comments
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
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Quick summary
The article provides a comprehensive guide to evaluating and optimizing your credit card portfolio based on your spending and rewards preferences.
It outlines the main types of rewards: cash back, airline or hotel points/miles, and transferable currencies, each with distinct advantages and limitations.
Readers are encouraged to assess the benefits and costs of their current cards, considering factors like bonus categories, perks and whether to keep, downgrade or close accounts.
The guide emphasizes that the ideal card mix is highly personal, depending on individual travel, spending habits and desired rewards.
What to consider
Some rewards cards restrict redemptions to specific loyalty programs, while transferable currencies offer broader flexibility.
Cards with a modest annual fee may provide valuable perks or credits that can offset the cost, but it's important to evaluate if these benefits align with your needs.
Closing older accounts can impact your credit score, so consider downgrading or keeping no-fee cards active instead.
What you'll miss from the article
A detailed framework for building a card portfolio tailored to your lifestyle, including strategies for maximizing rewards and minimizing unnecessary costs.
Generated by AI with support from our editorial team.
Update: Some offers mentioned below are no longer available. View the current offers here.
Whether you have one credit card, a few or a drawer full of them, you may wonder whether you have the right cards in your wallet. You also may wonder how to further build your card portfolio.
These are personal questions, with different answers for each individual. In this guide, I will present various things to consider when evaluating and improving your credit card portfolio.
How do I build my credit card portfolio?
A good place to start is to determine which cards you currently hold and their benefits, earning rates and annual fees. You may also want to check your credit score, which you can do for free.
D3SIGN/GETTY IMAGES
Once you have a good understanding of your current situation, you can determine whether to add any new cards to your portfolio, as well as whether any cards in your current portfolio are no longer necessary. Let’s dive in.
Since this article is on The Points Guy, naturally, we focus on credit cards that earn rewards for your spending. Rewards cards generally earn one of three types of rewards:
By commenting, you agree to our Community Guidelines to help create a positive space for conversation. The responses below are not provided or commissioned by the bank advertiser, our partners, or The Points Guy (“TPG”). They have not been reviewed, approved, or otherwise endorsed by any of these parties. All responses are submitted by individual contributors, and neither the bank advertiser, our partners, nor TPG are responsible for ensuring that all posts and/or questions are answered.
