I have used credit cards from several major banks over the years, and three ecosystems have stood out in my own experience: American Express, Chase, and Wells Fargo.
Rather than ranking every credit card issuer, I wanted to focus on the three setups I actually use and know personally. I don’t currently have a Capital One or Citi setup, so I won’t rank them based on second-hand experience.
Here is how I currently rank my three credit card setups.
3. Chase
My Chase setup includes:
- Chase Sapphire Preferred or Sapphire Reserve
- Chase Freedom Unlimited
- Chase Freedom Flex
Total annual fee: $95/year with the Sapphire Preferred setup. The Freedom Unlimited and Freedom Flex both have no annual fee.
Chase was actually my #1 credit card setup for a long time. The combination of the Sapphire cards with the Freedom cards makes for a very useful Ultimate Rewards ecosystem.
The Freedom Unlimited and Freedom Flex give me different ways to earn Ultimate Rewards points, while the Sapphire Preferred or Sapphire Reserve gives those points additional travel redemption options.
The biggest reason Chase dropped to #3 for me is the recent Hyatt devaluation.
Chase is changing the Hyatt transfer ratio for Sapphire Preferred cardholders from 1:1 to 4:3. That means 1,000 Chase points would become 750 Hyatt points under the new ratio. For someone like me who values Hyatt, that’s a significant reduction in value.
The devaluation also comes at a time when Hyatt points themselves have become less valuable to me because of Hyatt’s own changes. Put together, that makes the Chase-to-Hyatt strategy considerably less attractive than it used to be.
This is especially disappointing because Chase would have been #1 for me if this Hyatt devaluation had not happened.
Another weakness for me is the lack of a true 2X catch-all earning option in this setup. The Freedom cards are useful, but I don’t get a simple 2X Ultimate Rewards earning rate on every purchase.
Chase is still a strong ecosystem, and Hyatt isn’t the only way to use Ultimate Rewards points. However, the Hyatt changes significantly affected how I personally value the setup.
2. Wells Fargo
My Wells Fargo setup includes:
- Wells Fargo Autograph Journey
- Wells Fargo Autograph
- Wells Fargo Active Cash
Total annual fee: $95/year. The Autograph Journey has a $95 annual fee, while the Autograph and Active Cash have no annual fee.
Wells Fargo has become a surprisingly strong credit card setup for me.
What I like most is the simplicity.
The Autograph gives me a no-annual-fee option for earning rewards in useful everyday categories, while Active Cash gives me a straightforward catch-all earning option. The Autograph Journey adds more travel-focused benefits for someone who travels frequently.
I also like that Wells Fargo doesn’t require me to build my entire strategy around a huge collection of statement credits.
This setup is especially appealing to someone who wants good rewards without having to manage a complicated collection of credits and benefits.
For me, Wells Fargo is a great middle ground.
You can build a solid setup with multiple cards while keeping things relatively simple. You also don’t necessarily need to care about airport lounges or maximize every possible travel credit to get value from the cards.
If you want a credit card setup that is relatively easy to understand and don’t need all the premium travel benefits offered by some of the more expensive ecosystems, Wells Fargo can be a very good fit.
That’s probably the biggest reason I have grown to like Wells Fargo: it doesn’t feel like I have to work nearly as hard to get value from the setup.
1. American Express
My Amex setup includes:
- American Express Platinum
- American Express Gold
- Blue Business Plus
Total annual fee: $1,220/year. The Platinum is currently $895, the Gold is $325, and the Blue Business Plus has no annual fee.
For me, American Express is currently #1.
The biggest reason is the ability to rack up Membership Rewards points across several cards while also getting substantial travel benefits.
The Platinum gives me premium travel benefits, while the Gold is excellent for everyday spending categories. The Blue Business Plus gives me a simple way to earn Membership Rewards points on other purchases without an annual fee.
Another major advantage for me is the Amex lounge network.
Having access to the Centurion Lounge network and other participating lounges is a big part of the value I get from the Platinum when traveling. The lounges can definitely get crowded at times, but having such a large lounge network is still a major benefit for me as someone who travels frequently.
I’ll go into much more detail about the Amex lounge network in a separate article, including my personal experiences with the lounges, crowds, food, seating, and which lounges I like.
The biggest downside to my Amex setup is the annual fees.
At $1,220 per year, it costs dramatically more than my Chase or Wells Fargo setups. Because of that, I think you need to actually travel and use the benefits for the setup to make sense.
Another downside is cashing out Membership Rewards.
If you don’t have a good way to redeem Membership Rewards for travel, the points can be difficult to turn into strong cash value. A normal statement-credit redemption can provide only around 0.6 cents per point, which is much lower than what can potentially be achieved through travel transfers.
For me, having the Charles Schwab Platinum provides another option for cashing out Membership Rewards at around 1.1 cents per point, which makes the Amex ecosystem more flexible.
That’s one of the reasons I personally like Amex so much. I can focus heavily on earning Membership Rewards and then decide later how I want to use them.
My Final Ranking
Based on my own experience with these three ecosystems, my current ranking is:
1. American Express
Best fit for my travel-heavy strategy, Membership Rewards earning, and lounge access.
Annual fee for my setup: $1,220
2. Wells Fargo
A strong combination of simplicity, everyday earning, and travel rewards without requiring a huge premium-card setup.
Annual fee for my setup: $95
3. Chase
Still a strong ecosystem, but the recent Hyatt transfer devaluation significantly hurts it for the way I personally use Chase points.
Annual fee for my setup: $95 with Sapphire Preferred
Chase actually would have been my #1 setup if the Hyatt transfer ratio had remained 1:1.
And again, this isn’t a ranking of every credit card issuer.
I don’t currently have Capital One or Citi, so I won’t pretend to have first-hand experience with those ecosystems. If I eventually build those setups, I’ll be able to give my own experience with them too.
That’s what makes these rankings useful to me: I’m ranking the setups I’ve actually used, not simply repeating what other credit card websites say.
My goal with this blog is to share my first-hand experiences, including what I like, what I don’t like, and what has changed over time. Credit card setups can look great on paper, but actually using them is a different experience.
Credit card terms, annual fees, transfer ratios, benefits, and redemption values can change. Please check the issuer’s current terms before applying or making a financial decision.