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It depends a lot on what benefits of the CC are most important to you.
FlyerTalk Forums
I frequent that website to keep up with customer satisfaction for other airlines and the one I work for.
There's a sub forum dedicated to CC's, promotions, etc.
If it's miles you're looking to accumulate you can check the "Mileage Run" forum. Constantly updating special fares and mistake fares (generally around 3-4 cents per mile) so you can earn miles on the purchase plus flown miles which goes towards preferred status with the airline. Add in multipliers and bonuses and you can rack them up incredibly fast.
I've been with US Airways for 11 months now, with the CC and taking a few mileage runs (fly somewhere have a beer and jump on the next flight back) I'm closing in on 250K redeemable miles and 80K preferred status qualifying miles.
If you plan on doing a lot of traveling, going with a card directly from the airline is better. Their sign up bonuses are anywhere from 2.5x-4x of a third party's. Plus incentives like Buy one ticket and get 2 for $99, priority check in/boarding, airport club passes, and 5-10K mile discounts on itineraries booked using your miles.
Airlines with a hub airport where you're flying out of jack the prices sky high out of those airports, so either choose another airline that services that airport or find and alternative airport and make a connection through their hub city if you're looking to save money.
If you want better other rewards with just the added incentive of earning miles going through a third party company is generally better since there cash back and discounts are usually far superior. Their blackout dates and travel agents suck and are borderline retarded. Also, they make complicated itineraries generally involving more than one airline on your trip. But if you don't travel often, it's not a huge inconvenience, just slightly confusing when you do fly.
That forum is jam packed with knowledge about rewards and miles from experts on the matter.
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