The other day I got an email from my reader Lisa and wanted to share with you the edited version:
“I stumbled upon this obscure card today and thought your readers would like it. It’s called CNB Crystal Visa Infinite, and it has a $400 AF. I didn’t see any mention of it on your blog. Also, do you have a list or a blog post about obscure credit cards that people don’t often talk about?”
The reason I don’t talk about CNB Crystal Visa Infinite card
It isn’t the lack of commission, that’s for sure. I think the card can potentially be extremely lucrative and worth renewing despite the $400 annual fee. However, there are a few significant roadblocks to getting it in the first place. First, you can only apply for it in a few locations in US. Second reason: according to CNB banker, you need an income of around $100k per year to have a shot at approval. Basically, they are looking at high-networth individuals, which is fair.
I’m not sure if you can count household income or not, but either way, $100k is a significant number. My husband and I certainly don’t make anything even close to that amount. Since this blog targets middle-class families like mine, I don’t believe this product is relevant to my specific niche.
If you make around $100k (congrats!), I recommend this post on Frequent Miler blog which has all the details you need: The amazing CNB Crystal Visa Infinite Card. A deep dive.
Obscure “keeper” cards for an Average Joe
I maintain a list of cards that are a good fit for everyday spending. As in, they are products you may want to hang on to year after year rather than just apply for bonus and cancel 10 months later. I’ve also put together a post on 2-card combinations that I estimate will cover 95% of US population.
Of course, there are exceptions to every rule, so here are few (somewhat obscure) cards that you should definitely consider:
1) Alliant Cashback Visa Signature
What makes it special: You earn 3% cash back during first year, 2.5% afterwards. The annual fee is $59, waived during first year. There are no foreign transaction fees, which makes it superior to Citi Double Cash (earns 2% cash back on everything).
The reason I don’t mention it much: you have to jump through hoops by becoming Alliant credit union member first, before you can even apply for this credit card. Also, there is no sign-up bonus. The third and main reason: you have to spend $12k each year in order to come out ahead compared to Citi Double Cash (no annual fee). Most in our audience use more than just one card in order to optimize rewards on spending.
Still, there is no question that this is the best cash back product on the market right now for those who prefer to keep it simple.
Non-affiliate application link (you have to become credit union member first)
2) Bank of America Cash Rewards
On its own, this card is nothing to write home about. Here is the earning structure:1% cash back on every purchase, 2% at grocery stores and wholesale clubs and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter. Definitely “meh”.
What makes it special: Bank of America Preferred Rewards program, specifically Platinum Honors level. Basically, if you are willing to park $100k with Bank of America, you will get a 75% bonus on certain credit card rewards. Before you say “I don’t have $100k in savings!”, keep in mind that Merril Edge IRA counts. So, if you are switching jobs and need to rollover your 401(k) money, it’s worth investigating Merrill Edge option. I keep my IRAs in Vanguard, so can’t comment on this one.
But wait, there is more! Awhile back, I got a comment from reader Robert:
“Another combo that is worth mentioning if you happen to have accounts with Bank of America is the BoA Cash Rewards card combined with the new BoA Premium Rewards card. You basically have all the main bonus categories covered along with 1.5% on non-bonus spending.
You’ll get a minimum of 3.3% on Gas, 2.2% on Grocery and Wholesale Stores, 2% on Dining and Travel, and 1.5% on non-bonus spending. The more money you have in BofA accounts (like a Merrill Edge IRA) the more these increase and you can get up to 5.25% on Gas, 3.5% on Grocery/Wholesale/Dining/Travel and 2.62% on non-bonus spending. Plus if you can take advantage of the $100 travel credit you erase the annual fee.”
Bank of America Premium Rewards card is listed in my Hot Deals page because it currently offers a $500 sign-up bonus. It has an annual fee of $99, but also comes with $100 incidentals credit, which seems to work on certain airline gift cards. The credit card is worth getting for sign-up bonus only, but could definitely become a “keeper” for some.
Obviously, parking $100k in assets (IRA or not) is a big decision, and should not be made based solely on credit card rewards.
Both of these BoA cards pay us commission. Thanks for your support if you choose to use our links!
3) American Express Platinum card for Schwab
This probably seems like a very odd choice, but hang in there. The reason I’m mentioning the card is due to its ability to cash out Membership Rewards points at 1.25 cents apiece. Our reader David T is a huge fan of this option. Personally, I prefer to use MR points towards mileage transfers, but getting 1.25 cents is definitely nothing to sneeze at.
Speaking of, just yesterday I got an email from Amex rep saying that Avianca Lifemiles program has been added as a partner. Transfer ratio will be 1:1. Read this post on why short-haul United operated flights can be a good deal via this program.
If you apply for Schwab card, you’ll get a sign-up bonus of 60k MR points and all the perks that come with the personal version of Amex Platinum. Unfortunately, the card also comes with $550 annual fee. Due to crazy high fee, it may not be a great choice to keep long-term.
However, let’s say you don’t plan to travel often and prefer cash back. Maybe you just had a baby or your income simply doesn’t allow for a lot of vacations. If you have a huge pile of MR points and need the money, Charles Schwab Amex card is the best way for you to cash them out. Again, it’s not for everyone, but the option is there.
Update: As reader Clyn6 has reminded me, you have to first open an eligible account with Schwab before you can apply for the credit card. It’s my understanding that it can be done easily, but there is a hard credit pull involved. See this Doctorofcredit post for all the details.
I also recommend you look into benefits of having a Schwab account if you travel often (according to comment from Justin).
If you have the ability to buy (in grocery stores) and then easily liquidate or spend Visa/Mastercard gift cards, you may want to also look into Amex Gold card. It earns 4 MR points per dollar on groceries, so paired up with Schwab card, it means earning 5% cash back on up to $25k each year. This isn’t something I’m interested in pursuing, but many feel differently.
Non-affiliate application link (for Amex Schwab card)
Leana’s referral link for Amex Gold card
Nancy’s Amex Gold referral link
Bottom line
As I’ve said many times, when it comes to credit card rewards, it’s not a “one size fits all” kind of deal. What works for 95% of people may not work for you. I prefer flexible points, but I also believe that cash is highly underrated by many in our community. Also, as much as I hate annual fees, I have to admit that CNB Crystal Visa Infinite card is worth hanging onto for those who travel on a regular basis. In other words, there is an exception to every rule.
Click here to view various credit cards and available sign-up bonuses
Author: Leana
Leana is the founder of Miles For Family. She enjoys beach vacations and visiting her family in Europe. Originally from Belarus, Leana resides in central Florida with her husband and two children.
You may want to mention that a Schwab checking account is one of the best for travel anyway. There are no foreign transaction fees and they reimburse atm fees.
Also, it’s worth noting that their brokerage account is better than Vanguard’s in many ways including lower expense ratio on many etf’s and lower auto-investment minimums.
@Justin Thanks for the tip! I do remember seeing something about Schwab account on Rapid Travel Chai blog.
Didn’t know it’s also a better option than Vanguard. Interesting. I’m probably too lazy to switch, but will investigate.
Thanks Leana, I’m so excited to be quoted in one of your posts! Totally made my day.
@Robert The pleasure is all mine! Please keep commenting.
I love my CNB card. Definitely a keeper for me! The downside is that the website takes a while to get used to, and does not connect to any financial software if you track your expenses that way. So you have to manually add those expenses into your budgeting software. The income requirement is definitely a bummer, but excellent for those who can get it.
Another excellent but not really that obscure card to get and keep is the Amex Blue Business Plus card. 2x MR points on any purchases. I value MR point at 1.8¢ per point based on my past actual redemptions. So every dollar spent using this card is like getting 3.6¢ towards future travel redemption. Love it!
@Winnie Glad you got your hands on CNB Card. It does almost seem too good to be true, right? I’m sure geographic as well as income restrictions are the reason it’s still around. I hope you get a ton of value from it in the years to come.
As far as Blue Buisness Plus goes, totally agree with you. It is mentioned in my post on best 2-Card combos. Amex has been giving Chase a lot to worry about lately. If Chase loses Hyatt as a transfer partner, UR program will lose lots of its luster as well.
I think the best no annual fee keeper card for middle class families is the Chase AARP card because it pays 3% back on all restaurant and gas spend.
@ Harv That’s a good one! I should probably add it to the list. If I had to choose one, I would probably pick US Bank Cash + because you can choose 5% categories. Or maybe Uber Visa. Then again, it’s not one size fits all kind of deal.
Hey, thanks for the shout out! I do love the Schwab redemption, especially in conjunction with the Blue Business Plus. That makes a good combo for a 2.5% return at least and possible more depending how you use your points. Of course, everyone has to decide if that annual fee is worth it. I don’t get too travel often but I finally took my dream trip to Ireland in Sept (I’ve got 4k+ photos to prove it!) and the lounge perks were awesome for airport waits!
@David T Thanks for bringing it to my attention! I’ve been meaning to cover it, but kept getting sidetracked.
Congrats on your trip to Ireland! How exciting. If you feel like writing a short post (with few photos), we will be happy to publish it.
Hey, I’d definitely enjoy that but I’m not sure how well I’d do on a “short post!” ????
@David T Oh, that one is up to you! 🙂 Writing posts normally takes a lot of time, so I don’t want to overwhelm you. But yeah, if you can describe how you used miles and points (or cash), I’m sure it would be a fun read.
I’ll see what I can come up with! Should I email you?
@David T Emailing is fine. You can use milesforfamily@gmail.com And no rush, take your time. I try to keep my posts under 1500 words, but feel free to make it longer. Thanks in advance!
Got it! I’ll see if I can keep my enthusiasm contained! 😉
I was curious about the Schaub card. The link provided shows this message at the top;
“The Platinum Card® from American Express Exclusively for Charles Schwab and the Charles Schwab Investor Credit Card® from American Express are only available to you if you maintain an eligible account at Schwab (an “eligible account”). An eligible account means (1) a Schwab One® or Schwab General Brokerage Account held in your name or in the name of a revocable living trust where you are the grantor and trustee or (2) a Schwab Traditional, Roth or Rollover IRA that is not managed by an independent investment advisor pursuant to a direct contractual relationship between you and such independent advisor. Eligibility is subject to change.
American Express may cancel your Card Account and participation in this program, if you do not maintain an eligible account.”
@Clyn6 This is actually an excellent point and something I failed to mention in the post. Thanks for the reminder! So, it’s my understanding that you can open a free brokerage or/and checking account, and it’s not very complicated. See this post https://www.doctorofcredit.com/opening-schwab-brokerage-checking-amex-platinum-credit-card/ I’m assuming the requirements have not changed since the post went live, but I’m not 100% sure.
I will update the post with the link.
So Avianca to United is like British Airways to American. Both international loyalty programs offer great redemptions for short distance domestic and international one-way flights.
Thanks for the post and shout-out.
Lisa, thanks for the question!
Yeah, that’s exactly right. Avianca to United is what BA is to American. BA program is a bit more user-friendly. Also, it usually offers better value overseas compared to Lifemiles due to 4,500 miles price on short routes.
Thanks Lisa for bringing this up. I may actually qualify, and the CNB Crystal card would actually be a better fit for my family than a few other cards. Thanks Leana for posting this!
@Stephanie No problem! Hope you get the card. Let me know how it goes.