OT - Looking to get another Credit Card, what would you recommend?

[intlzncster]

Best deal I've ever found - $650 rebate on a new cellphone after spending $2000 within 3 months. Your phone purchase counts toward the $2000 too. My wife and I got new Iphone 6S Plus. No contract, just keep ATT for 2 weeks then cancel.

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwi__LOBhu3JAhUGVyYKHcNTA6AQFggeMAA&url=https://www.citi.com/credit-cards/credit-card-details/citi.action?ID=citi-att-access-more-credit-card&usg=AFQjCNEAcSVtrqfbaeRpok7UXQnzDtFzDQ&sig2=coF0oV__Ff_Z8KQFJKPxaw&bvm=bv.110151844,d.eWE

You beautiful bastard. I need a new phone and only buy them outright. Not even an AT&T customer, but I'm doing this.

 

[ekiemeno]

American Express Blue Cash Everyday... No annual fee, 3% cash back at supermarkets, 2% at gas stations, 1% everywhere else. 0% for the first 12 months, but as others have said just pay it off month to month and you never have to worry. Plus, it looks cool. It's blue and clear.

I second this although their customer service is suspect at times. I love my Discover card and their customer service is by far the greatest.

 

[intlzncster]

If you can get over the religious aspect of the below link this is actually fantastic personal financial advise. I'd recommend listening to the podcasts of his radio show. It has gotten me 100% out of debt (student loans, consumer debt, etc) and I have never felt more free. Credit cards aren't evil - I have two (JetBlue AMEX and a Capital One VISA) but relying on them to 'build credit' and 'get rewards' is a poor plan.

No it's not. If you have moderate financial discipline, and you funnel your normal spending through a rewards CC, you are paying yourself. If you just use your debit card, you are pissing free money away for nothing.

Plus, it's more safe using a CC online and in some other places. Day one stuff.

 

[NYC_HUSKY22]

No it's not. If you have moderate financial discipline, and you funnel your normal spending through a rewards CC, you are paying yourself. If you just use your debit card, you are pissing free money away for nothing.

Plus, it's more safe using a CC online and in some other places. Day one stuff.

Did you ever stop to think why those programs are in place? Perhaps it is because the cash flow the credit card companies make on interest will be greater then the 'rewards' they delve out?

Who knows maybe it's just a big conspiracy to turn a profit by giving their card holders free stuff - no strings attached.

 

[KingOPancakes]

Did you ever stop to think why those programs are in place? Perhaps it is because the cash flow the credit card companies make on interest will be greater then the 'rewards' they delve out?

That's exactly right. You just have to have the self-discipline to be the one collecting the rewards and not paying the interest.

 

[intlzncster]

Did you ever stop to think why those programs are in place? Perhaps it is because the cash flow the credit card companies make on interest will be greater then the 'rewards' they delve out?

Who knows maybe it's just a big conspiracy to turn a profit by giving their card holders free stuff - no strings attached.

That's the point. For someone w moderate financial discipline, it is free money. Which is why you should do it. If you use a CC like a debit card and only spend money you have, then you get rewards for the EXACT same spending you would have been doing otherwise. You don't have to pay any interest if you pay your card off every month. There's literally no difference between one or the other, except you get cash back for using the CC. It's a no brainer.

Yes, CC companies make money on those who choose to carry a balance every month, but that's a consumer choice.

 

[David 76]

Pay my card off every month, even pay a small annual fee on one of my Capitol One cards to get the 2% on everything.
I put most everything on my card. Easy $40K/yr. That would be $800 minus a $60 fee = $740 for free.
The trick is to pay it off every month. If you can't control your spending reasonably well. don't use a credit card. Otherwise, it is great.

 

[dogpause]

You beautiful bastard. I need a new phone and only buy them outright. Not even an AT&T customer, but I'm doing this.

Thanks. It's an incredible deal, just make sure you follow the rules. Also, I agree with you that buying outright is the way to go. I have service with Straight Talk, sold by Walmart. It's ATT's network, but only $45/mo for unlimited everything (%GB of LTE Data). I think Straight Talk also offers Verizon's network too.

 

[intlzncster]

Thanks. It's an incredible deal, just make sure you follow the rules. Also, I agree with you that buying outright is the way to go. I have service with Straight Talk, sold by Walmart. It's ATT's network, but only $45/mo for unlimited everything (%GB of LTE Data). I think Straight Talk also offers Verizon's network too.

That's a pretty good monthly. Does it offer tethering too or no?

I have T-mobile's most cut rate plan. $30/month, unlimited txt, unlimited data (5gb before throttle), but only 100min talk. I rarely talk except on Whatsapp, so not a huge deal. No tethering though.

 

[DogMania]

Wow! That's a lot of feedback, but I'm just as unsure as was before. Some didn't read my original post, where I said that I pay my balance off in full.

It seems the cash back and points cards have both been recommended. So the question, which one, Discover, Capital One, Chase Sapphire, American Express Blue, etc.?

So which makes makes most sense? Hum...

 

[polycom]

Wow! That's a lot of feedback, but I'm just as unsure as was before. Some didn't read my original post, where I said that I pay my balance off in full.

It seems the cash back and points cards have both been recommended. So the question, which one, Discover, Capital One, Chase Sapphire, American Express Blue, etc.?

So which makes makes most sense? Hum...

What do you spend your money on is the key to answering this question?

 

[intlzncster]

Wow! That's a lot of feedback, but I'm just as unsure as was before. Some didn't read my original post, where I said that I pay my balance off in full.

It seems the cash back and points cards have both been recommended. So the question, which one, Discover, Capital One, Chase Sapphire, American Express Blue, etc.?

So which makes makes most sense? Hum...

Do you travel/fly a lot or no? If not, go cash back.

How do you spend monthly? What and where?

 

[NYC_HUSKY22]

Wow! That's a lot of feedback, but I'm just as unsure as was before. Some didn't read my original post, where I said that I pay my balance off in full.

It seems the cash back and points cards have both been recommended. So the question, which one, Discover, Capital One, Chase Sapphire, American Express Blue, etc.?

So which makes makes most sense? Hum...

Original post was read.. was simply providing another point of view

 

[TasteofUConn]

Frank Ivy getting referenced on a thread about credit cards? Somewhere out there in the foothills of Idaho in a snow covered cabin, you better believe he has a eating grin on his face.

Seriously, OP - need more info on you - what are your long term credit goals? Short term credit needs? et cetera

 

[ScottBonz]

Been looking through all these cards and investigating. They all have unique benefits. Capital One Venture seems great. We have Sapphire and I asked my wife why she chose Sapphire when Cap One seems slightly better at first glance. She said it is because we got 50k points when we go it and all the points can be used for just about anything points/miles can be used for (like Cap One). However, when you book travel with Chase Ultimate Rewards travel, you get a 20% discount on plane tickets etc. and she has found that on 3 out of 4 of our last trips she saved a ton of money booking through them vs. Travelocity etc. She then used the points to pay for the already discounted tix.

Anyway, we'll be switching to Cap One after we burn up our Chase points. She's a serial credit card shopper. We don't pay actual money for plane tickets very often, which is great with a family of five and a place up north we visit often. However, we (she) spends a lot of money in order to get all those points.

Doing the exact opposite for the same reasoning. Had Capitol One VC but it was just time a new introductory offer. Started using Chase Sapphire while I'm planning on using all the Capitol one points on my honeymoon flights

 

[dogpause]

That's a pretty good monthly. Does it offer tethering too or no?

I have T-mobile's most cut rate plan. $30/month, unlimited txt, unlimited data (5gb before throttle), but only 100min talk. I rarely talk except on Whatsapp, so not a huge deal. No tethering though.

No tethering, unfortunately. This is my one beef with Straight Talk -- if you're going to give me 5GB, then IMO, it's none of your business how I choose to use it. There may be workarounds, but I don't use one at this time.

 

[Husky25]

My primary card is the Sam's Club MasterCard (used to be Discover). 5% cash back on gas (unless it's BJ's or Costco), 3% on travel, and 1% on everything else. The only thing it costs is the Sam's membership, which I'd be purchasing anyway.

This couldn't be more untrue. Depending on your spending habits having a card with an annual fee might actually be better. Ex. I use to travel for work 2x+ a month and I was allowed to use my personal card to book the travel and then was reimbursed by my company. I have a Hilton AMEX with a $95 fee..in the year I had the card I stayed in enough hotel rooms with all the points i accrued to make it more than worth it.

So your company reimbursed you for the annual fee? If so, that sort of misses the point. You don't actually pay for it. When I traveled for work, I had Silver Elite Status at Marriott. At one point my wife had Platinum. The Firm would pay for the hotel, but the points would come to us and we'd get free nights off the business nights paid by the firm...and still have a zero annual fee credit card.

 

[polycom]

My primary card is the Sam's Club MasterCard (used to be Discover). 5% cash back on gas (unless it's BJ's or Costco), 3% on travel, and 1% on everything else. The only thing it costs is the Sam's membership, which I'd be purchasing anyway.



So your company reimbursed you for the annual fee? If so, that sort of misses the point. You don't actually pay for it. When I traveled for work, I had Silver Elite Status at Marriott. At one point my wife had Platinum. The Firm would pay for the hotel, but the points would come to us and we'd get free nights off the business nights paid by the firm...and still have a zero annual fee credit card.

They didn't reimburse for the annual fee they only reimbursed me from my expenses. The math works out to points accrued through the year minus the annual fee, I would always come out ahead versus a card that didn't have a fee. I was getting 10 points/ $1 at Hilton's and Hilton was the preferred hotel of my company.

 

[DogMania]

Do you travel/fly a lot or no? If not, go cash back.

How do you spend monthly? What and where?

Good questions. I use my Chase SW Rapid Rewards card as much as possible, for things as mundane as groceries, eating out, etc, and on big things like electronics though I don't buy many big ticket items.

As for traveling, it's usually domestic and SW fits the need. But I'm thinking of doing some international travel within the next few years and wouldn't mind points, or whatever, to go towards airfare and maybe even hotel. Though I do own a time share with my brother which I can bank as points or weeks to use for lodging overseas.

I just wonder if it's simply more cost effective to get cash back which can obviously go towards whatever future purchases, compared to earning points that might have restrictions. Also, I've always wondered if these points programs, the points sometimes expire over time.

I don't travel frequently so it's sort of a once or twice a year kind of thing.

I don't know if this information helps, but based on this, what would you recommend? I'm sure we all want to get the best bang for the buck, so what card would have the biggest bang, in light of fees, percentage cash back, points, least restrictions, etc.

Just doesn't seem there is an exact science to all this. Any help in narrowing it down, based on this additional info, is greatly appreciated.

 

[intlzncster]

Good questions. I use my Chase SW Rapid Rewards card as much as possible, for things as mundane as groceries, eating out, etc, and on big things like electronics though I don't buy many big ticket items.

As for traveling, it's usually domestic and SW fits the need. But I'm thinking of doing some international travel within the next few years and wouldn't mind points, or whatever, to go towards airfare and maybe even hotel. Though I do own a time share with my brother which I can bank as points or weeks to use for lodging overseas.

I just wonder if it's simply more cost effective to get cash back which can obviously go towards whatever future purchases, compared to earning points that might have restrictions. Also, I've always wondered if these points programs, the points sometimes expire over time.

I don't travel frequently so it's sort of a once or twice a year kind of thing.

I don't know if this information helps, but based on this, what would you recommend? I'm sure we all want to get the best bang for the buck, so what card would have the biggest bang, in light of fees, percentage cash back, points, least restrictions, etc.

Just doesn't seem there is an exact science to all this. Any help in narrowing it down, based on this additional info, is greatly appreciated.

Definitely no exact science. That said, in my unprofessional opinion, there's no reason for you to get a miles rewards card, as you don't fly often enough to warrant it. Might as well collect cashback rewards, instead of accruing miles for some hoped for overseas trip in the future; you would effectively be giving them a no interest loan (via delayed benefits) otherwise. And you have all your domestic miles taken care of with the South West card.

The only other reason to get a foreign travel card would be to get zero foreign transaction fees on your card, but both the SouthWest and Chase cards already has this benefit. I think the SW card has auto travel insurance as well? Check you have both of these benefits to be sure.

Status quo for you imo.

 

[intlzncster]

For everyone else, this is a great app to deal with your rewards program:

Deciding which credit card to use at retailers is often difficult especially when some cards like the Chase Freedom Visa, have rotating quarterly categories. Our mobile app, TPG To Go, will tell you which card in your wallet will earn the most rewards. The app also pulls in recent posts from the blog, shows the current hot credit card deals and for $3.99 will track your bonus spending so you will know when you have hit your spend requirements. The app is available on both iPhone and Adroid, visit mobile.thepointsguy.com for more information.

 

[DaddyChoc]

money.com has an interesting story on how to make money off your credit cards (its only $500.00 but 500 is 500)

LINK

 

[DogMania]

Definitely no exact science. That said, in my unprofessional opinion, there's no reason for you to get a miles rewards card, as you don't fly often enough to warrant it. Might as well collect cashback rewards, instead of accruing miles for some hoped for overseas trip in the future; you would effectively be giving them a no interest loan (via delayed benefits) otherwise. And you have all your domestic miles taken care of with the South West card.

The only other reason to get a foreign travel card would be to get zero foreign transaction fees on your card, but both the SouthWest and Chase cards already has this benefit. I think the SW card has auto travel insurance as well? Check you have both of these benefits to be sure.

Status quo for you imo.

I just opened a Chase Freedom card which is one of those 5% rotating cashback type cards. I was thinking of also opening a Discover it card which is also a rotating rewards card so I would have options when to use them, but I'm not sure if that's a good idea for a few reasons.

First off, it seems the 5% reward the first quarter is the same for both cards (Cash and Ground Transportation). The Chase shows me what the cats are fore each quarter. Discovery it only shows the first quarter.

Is it likely that both will have the same quarterly rotations?
Will opening two cards kill my credit score, and if so for how long? I don't remember what my score is, but it has been excellent. I always pay off my cards on time.

I appreciate your feedback. Seems both cards are very similar and it was a toss up as to which one to open.

 

[Leebo]

Did you ever stop to think why those programs are in place? Perhaps it is because the cash flow the credit card companies make on interest will be greater then the 'rewards' they delve out?

Who knows maybe it's just a big conspiracy to turn a profit by giving their card holders free stuff - no strings attached.

I know this post was a few weeks ago, but it's really not hard to understand what he was saying. If you pay off your balance you never pay the interest. So if you spend the same small amount regularly with a rewards card and a debit card, the reward card will be the better deal.

 

[Jerry1714]

I would only consider Amex given the customer service and benefits (rental car insurance, deals everywhere, no foreign fees, ect) they offer and the Starwood Preferred Guest card is a real good one travel related points.

 

[Hoophound]

I would only consider Amex given the customer service and benefits (rental car insurance, deals everywhere, no foreign fees, ect) they offer and the Starwood Preferred Guest card is a real good one travel related points.

The old Amex is gone. 75% of customer service people are in India and Mexico. I have had fraud on my Amex account repeatedly in the last year and they didn't detect it one time. They used to catch everything. Total garbage. Far more impressed with Citi and Chase these days.

 

[intlzncster]

I just opened a Chase Freedom card which is one of those 5% rotating cashback type cards. I was thinking of also opening a Discover it card which is also a rotating rewards card so I would have options when to use them, but I'm not sure if that's a good idea for a few reasons.

First off, it seems the 5% reward the first quarter is the same for both cards (Cash and Ground Transportation). The Chase shows me what the cats are fore each quarter. Discovery it only shows the first quarter.

Is it likely that both will have the same quarterly rotations?
Will opening two cards kill my credit score, and if so for how long? I don't remember what my score is, but it has been excellent. I always pay off my cards on time.

I appreciate your feedback. Seems both cards are very similar and it was a toss up as to which one to open.

It won't hurt your score I don't think. It just means you have more credit/potential-debt out there, which can sometimes even improve your score (up to a point), if you manage it well.

I'd guess that you could call up Discover and they'd probably tell you the categories? That's what I'd do. Then decide if it's worth it.

 

[Leebo]

Well, IIRC, part of your score is the average age of your accounts or something like that, so you will take a small hit in the short term, but in the long term the added ceiling should help more than the immediate hurt.