Maximizing Credit Card Benefits: How I Earned from Spending Over 60 Million VND

Getting Started with Credit Cards

I own four premium credit cards, and just the annual fees alone amount to a staggering 2,680 USD—over 60 million VND. While that might sound pricey, I’ve actually managed to come out ahead. It’s a bit of a gamble, but if used wisely, the rewards can be substantial.

Using the Citi Strata Elite Card

The Citi Strata Elite card was undoubtedly a smart choice. The first year was incredibly appealing, offering numerous perks based on my spending. For instance, I earned 6x points on dining out during the weekends. The initial promotional period for this card offered up to 75,000 bonus points when spending 6,000 USD in the first three months. Plus, there’s a benefit of 300 USD for hotel bookings, provided I stay at least two nights.

Capital One Venture X Card

The Venture X card easily adds more advantages with 2x points on all purchases. It acts as a basket for all non-bonus spending. I receive 300 USD in travel credits plus 10,000 bonus points annually upon renewal, which offsets the annual fee of the card. Additionally, I gain access to Capital One lounges, although they are limited to a few locations like Dallas and Las Vegas.

American Express Platinum Card

The American Express Platinum card is another great option for me, despite the hefty annual fee of 895 USD. The biggest benefit is access to the Centurion Lounge and services like Uber with 200 USD in credits each year. I use this card to purchase plane tickets and take advantage of the offers it provides. There’s also a monthly 300 USD allowance for digital entertainment, making my expenses on subscribed services more manageable.

Chase Sapphire Reserve Card

With the Chase Sapphire Reserve card, I found I no longer needed the Platinum card because this one also offers attractive cashback rewards. Each year, I spend about 75,000 USD on this card, thanks to the dining and hotel booking perks. In reality, combining these credit cards has saved me significantly compared to relying on just one card.

Optimizing the benefits from multiple credit cards can be challenging and time-consuming. I can take advantage of all these offers, but if you don’t have the time, it might not be worth it. Nevertheless, for me, the annual fees are not a burden when I have a flexible and effective way to use my cards.