Ever wondered what’s in a financial planner’s wallet?

We help clients figure out credit cards all the time, here’s a quick run down of 3 of my favorite cards for clients:

1. I carry my Amazon Prime card daily, and of course it’s loaded in my Amazon Prime account online. You get 5-6% cash back on all Amazon purchases, plus any Whole Foods purchases online or in-store. You also get 2% on gas and restaurants. If you’re anything like my house and Amazon is building distribution centers based on your home address, this card is a no brainer!
   • Before we go on, I’ll mention here that I have over 20 credit cards, and a credit score over 800. If you use them responsibly, having many credits cards will probably HELP instead of hurt your credit score (plus you pick up the cash or perks).
     
     
2. My Amex Platinum card is one of my main go-to’s. This is a premium card, and the big annual fee can scare folks off for good reason, but it’s quite easy to get all that back with amex. You get a $20 monthly credit for against all those doinky subscriptions you forget about, like Sirius XM, Peacock, Netflix, whatever. You get a free Walmart+ membership each month, that’s the Walmart version of Amazon Prime.
   
   Big list here – you get $200 annual credit on Saks purchases, $15 a month for Uber rides or Eats, $200 a year for an airline of your choice, access to AMEX Centurian Lounges at 30 airports globally, and a free Clear membership. They advertise lots of experiential perks like early access tickets and events, I haven’t found those are really worth anything, focus on these real cash perks.
   
   A broad Amex comment here, their points are very transferable to other programs, and you can find pretty juicy transfer bonus’ if you look.
   
   Side note – if you’re a Schwab customer, there is an attractive co-branded version of the Amex Platinum that’s worth exploring.
   
   
3. TWO Southwest cards. If you’re one of the billions of Ohioans who seem to all land in Florida at the same time each Spring, I bet you’re flying on Southwest (or Allegiant if you have to!). A Companion Pass on Southwest can save you a lot if you use it just a few times a year, especially if you’re stuck flying on popular days. Getting that Companion Pass is one of the easier “hacks” in the credit card world…
   
   It’s often misunderstood that you can get a Business credit card even if you don’t have a business. Small business credit cards are usually run on a person’s ssn, you can list any business name you want to have. By getting both cards and stacking their frequent sign up bonus’ early in the year, you can earn a Companion Pass for close to 2 years without spending more than $5-10k on the new cards. (here’s a free travel tip – make sure your kids have rewards accounts on whatever airline you’re flying)

Bonus Credit Card Tips:

• Most higher income families can easily justify and benefit from a premium card, if Amex Platinum isn’t your thing consider a premium Marriot or Hilton or Airline card like Delta or United.
• If you’re after straight cash back, Schwab Bank offers an Amex card that puts 1.5% of every purchase straight in your Schwab brokerage account, and Fidelity has a card that does 2%!
• If you’re in home reno mode, Lowes gives you 5% off all purchase on their credit card all year, simple way to save on big home purchases.