Credit Cards for Big Spenders: It’s All about the Rewards Points

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When choosing a credit card for a big spender, we have to first understand what a big spender is. For some people it could be anyone who charges $10,000 or more on a credit card in a single year. However, Jason Steele, who writes for the Points Guy blog, sets the lower limit at $100,000 a year. Only a couple of types of people fit into that category.

The first type of person who can spend that lavishly on a credit card is someone who is well to do, who makes at least a six-figure income. The rich, or the one percent, as some call them, are not likely to get into trouble with credit card debt.

The other type of person who can charge a lot of money on a credit card with some measure of impunity is someone who charges business expenses on their personal card and then gets reimbursed. He or she either works for a big company that allows that sort of arrangement or owns a small business.

The reason for charging a lot of money on a credit card is all about getting rewards points, especially if you travel a lot for business, since some awards are based on airline miles. A lot of credit cards, especially the premium, high-end ones, will give a lot of points for big spenders that can be used for air travel, car rentals, hotel stays, meals, and other expenses.

Whether you travel a lot for business or like to take trips for pleasure, this feature can be attractive. Of course, some cards limit their points to certain corporate partners. Some cards offer bonuses for new cardholders and for spending a set amount in a limited time period.

Many savvy, well-to-do travelers use several cards to maximize the places where they can use their points.

The Points Guy lists a number of cards along with how they award points, with restrictions and signup bonuses. These are:

Which cards you decide to use for a big spending strategy will depend on what kind of rewards are most valuable to you. Pay close attention to credit cards that offer the most miles-based rewards, the better to get upgrades and other perks. Remember, these kinds of premium credit cards charge higher than the kind of fees you are used to for your standard bank Visa or American Express.

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Mark R. Whittington writes about world politics for Capitalist Review. He is the author of Why Is It So Hard to Go Back to the Moon? a study of the politics of lunar exploration.

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