I saw this and just had to chime in. I have a pretty extensive "miles and points" plan that I'd like to share:
first, my wife has a BOA 3-2-1 card for personal groceries, etc. that gives us this cash back scenario: (We get a check for about $300-$400 each year)
1% = everywhere, every time
2% = grocery
3% = gasoline
Now the "big guns".
Chase Sapphire Preferred: costs $450 per year. We get a $300 travel credit which brings the net to $150 per year but we get the following:
100,000 point signup. This has given us about $2,000 in free plane tickets so far: We get 1 point for purchases but 3 points for any meal, entert, travel related purchases. THEN...we use the Chase Travel portal to buy plane tickets. We get a 50% bonus for doing so. So right out of the gate, our 500,000 accumulated points will buy us $7,500 worth of tickets. It doesn't end there. We use Southwest Airlines, which is the ONLY airline that has an out of whack point system. Usually 1 point = 1 penny. With them it's 1.6 cents per point so we get another 60%. We use less than 200 points to get a $300 ticket. We do own a business that puts about $10,000 per month in charges so that does help. We have not paid for plane tickets (1-2 trips family of 3 per year) for about 7 years.
Chase Ultimate Rewards
This is our "go to" card. Very simple. EVERY non travel related expense in our house and 2 businesses goes on here. We THEN transfer the points to the Sapphire because we get the 50% bonus when we use sapphire points to travel. This card also has quarterly bonuses. usually things like gas, groceries, etc. and the bonuses will be 5 points vs. 1 point.
I used to also use Chase Ink Bold, and I still get one every other year when signup bonuses come on. They give 5 points for cell, cable, etc. anything tech related (even netflix). I sign up, get the 50K signup bonues (worth $750 or more to me via Sapphire transfer), then put all my tech stuff on it, then kill the card a few months later.
To supplement, I get Capital One cards every so often. My wife and I each got a Cap 1 card, just this past Christmas, each having a 50,000 signup bonuses. One for cash, one for gift cards. Plus I signed up for Amazon's Amex which gave us $100 credit. So just for signing up for 3 cards, I netted a little over $1,100 just in time for Christmas. I did have to put 3K in 3 months on each of the Cap One cards. (These minimums for the signup bonus are about all the evidence I need that every human being that's interested in getting an edge should own SOME TYPE of business)
That's my story! It's nice and simple.
One thing Id' say, is PLEASE don't give even one second's thought to "where" the credit card is vs. your bank account. It's just as easy to use a Key Bank checking account to pay a Chase visa or vice versa. You just login, put in your routing and account number and you're done. Location is completely irrelevant how. I say this because it's so easy to give up free money because of an imagined limitation.
Cheers!