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Home> All Articles> Financial Planning

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These Are the Credit Cards in Our Wallet!

Written by
  • Daniel May, CFP®
    ▼
    Daniel May, CFP®
    Financial Planner

    Daniel is the author of Beyond Basics, which helps you make the most out of every dollar by keeping you informed and up-to-date with current financial news, Financial Mutant money strategies, and optimizing your financial life.

    Financial Planning
    Retirement
    See more from Daniel May
Updated Jan 15, 2026
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https://moneyguy.com/article/these-are-the-credit-cards-in-our-wallet/
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In this highlight, we discuss whether or not millionaires use credit cards and what credit cards millionaires use. We also highlight how credit cards can be powerful financial tools, when used correctly.
Transcript
When it comes to credit cards, it's important to know what you're looking for and what works best for you. For most of my everyday purchases that don't fall into a different category, I use the Fidelity rewards Visa card. This card gives me 2% back on everything and rewards are automatically deposited into his account. For shopping on Amazon and trips to Whole Foods, I use the Amazon card because it gives me 5% back on those purchases. For shopping at Target, I use the Target red card, and for gas and travel, I use the Costco City rewards Visa card which gives me categorical spending and savings. It's important to note that these are the credit cards that work for me and my household personally, but may not necessarily work for everyone. However, I do recommend the Fidelity Visa card as a default because it gives 2% back on everything. For maximizing category spending, I would recommend the Costco Visa card for its 3% on restaurants and 4% on gas. I also have an Amex Platinum card for traveling, and my wife has a Southwest card for travel out of Nashville. When it comes to credit cards, it's important to find what works best for you and your lifestyle. It's also a good idea to have a diverse selection of cards that can maximize your spending and rewards. Remember, credit cards can be powerful financial tools, but if you struggle with debt, cut them up and throw them out! To learn more about how much you should be saving, download our free resource: "How Much Should You Save?"

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