RetireJapan

Hi all,

So I opened an SMBC Gold prime credit card nearly a couple of years ago. It was my first credit card in Japan, I use it for pretty much everything I can as single payments and have it setup to take from my SMBC current account on the 26th of every month to avoid any fees. My initial credit of 500k got increased to 700k and then 900k, and I've not seen any increase since. I spend an average of 200k-300k on it per month.

I've amassed about 32,000 points on this card, which can be exchanged 1:1 for iD credit, which is taken in a lot of stores. However, I know there are some ANA cards by SMBC which allow for higher than 1:1 exchange rates on miles depending on the card. I fly enough (or did, before corona) that this could be worth it. But I was hoping for some personal anecdotes and opinions on what you would do with this many points. Maybe converting to plain iD (essentially cash) is the best option?

The other thing is, this card is 5,500 JPY per year (1st year free) and my payment is coming up. So if I were to open up a different credit card I'd want to do it very quickly! If I've already been approved for this credit card, is it necessarily a difficult process getting a second one through the same bank? Anything I shoudl be wary of?

Thanks!

If you want to compare and contrast cards, this is the site for you -> https://kakaku.com/card/.

As far as upgrading cards, it was a simple step for me to do online with Rakuten.

The best card for you will depend on the services you use, the point system you prefer etc, etc.

We went with Amazon Gold because we already pay for Prime, and use Amazon quite a bit now due to Covid.

My cards -> Amazon Gold / Rakuten Gold

Wife -> View Sucia Card / Nondescript Mall Card

I'd get at least one more card as a backup, especially if you travel. I'd also recommend getting your second card from a different company.

Paid cards can be worth it but you need to weigh up the benefits like purchase protection and travel insurance.5,500 yen seems a bit steep though.

I like "liquid" points that are cash like. I tend to use them as soon as I get them rather than accumulate. My main card is a Rakuten card and I use the points to fund my NISA. Any special points can be use up at Konan, my local supermarket, or Rakuten Ichiba. I also have a Costco Orico card. Their points aren't as flexible, but they can be converted to Amazon points.

One thing that is often overlooked is customer service. I've had no problems with chargebacks and travel insurance claims with my Orico card. However, I'm not confident that Rakuten would provide the same level of customer service. For that reason I always make sure that I buy my plane tickets or connecting train tickets with my Orico card to ensure that I'm covered by their travel insurance.