Weekend TWG Homework Assignment: What are the Best Credit Cards for Downgrades or Conversions?
Good evening everyone, TGI (Thank Grant It’s) Thursday. I will be flying up to San Francisco Friday night and coming home early Monday morning from Oakland. I will not be blogging this weekend, but I will bring my phone so I can respond to emails and blog comments. Since the collective knowledge of TWG readers is far superior than just my knowledge, I need your help. I am working on compiling a page on best credit cards for downgrades or conversions. For every annual fee credit card from a bank, there is a related no annual fee credit card.
Do you remember that kid in school who always asked the teacher if there was any homework due next week when the teacher clearly forgot to assign any? Well, you can all thank Dan P for the suggestion (link):
I think a blog post about all the “good downgrading cards” would be great. Include the BoA Better Balance Rewards and the Citizens Bank Green$ense (pays you $0.25 per transaction, up to $20 per month; great for purchases under $5) in addition to other cards. Although other than those two I haven’t found any really useful, zero annual fee cards.
Steven got the ball rolling with this comment:
Best practice is to convert the Alaska card to a Better Balance card which will award $100 a year for minimal spending. I have 6 of them. :)
Followed by Jivepicnic’s comment:
I only have one Better Balance Card, so I have some work to do to catch up to Steven! I purchase an Amazon eGC for $0.50 each month, so I spend $6 per year to get $100. Actually for me it’s $120 because you get a $5 bonus per quarter if you have a BofA checking account as well.
Clearly, I have been living under a rock since I was unaware of this card until a few days ago. I have closed several Bank of American credit card in the last 2 years to avoid the annual fee, when I could have earned $100 a year for keeping a credit card open (link).
