Author Topic: Choosing The Right Credit Card For My Advantage  (Read 1914 times)

Millertime3291

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Choosing The Right Credit Card For My Advantage
« on: August 18, 2015, 07:10:14 AM »
Hello All,

I've been following the forums here for what feels like forever now and I've seen multiple different posts regarding credit cards and the churning of them for your own gain. My question here is more simple. My situation is that I'm in a position to study for a designation in my field where my employer will reimburse 75% of that cost immediately then the remaining 25% of the cost once I pass each course. I'm pretty young at this point (24) and I think that doing this, especially on my employer's dime, is common sense! For numbers purposes, each course costs $700 x 8 courses = $5,600 as well as a $125 initial sign-up fee. I'd anticipate completing the courses over the course of the next 12 months.

I'm here thinking this can most certainly be used to my advantage with the use of the credit card based upon what I've read here so far. I'll be honest, I've never been a big fan of credit cards - I know so many who have fallen into the "they're free money trap" so I've steered away thus far. So, my professional card churners, what's my best option for a card here. I am mostly interested in accumulating miles for a potential free trip once I gather enough up, hoping/thinking I can with that amount of cash in a short time frame?

What's my best option here? Thanks in advance!!


daverobev

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Re: Choosing The Right Credit Card For My Advantage
« Reply #1 on: August 18, 2015, 02:06:22 PM »
Correct answer: Get the one with the best sign up bonus. Put enough on it to get sign up bonus. Get next best card. Repeat :)

Chase Sapphire Preferred is a good one to start with. Chase Freedom if your credit isn't great.

Try this https://www.reddit.com/r/churning/comments/30p8i6/faq_guide_to_free_vacation_for_newbies_updated/

You don't have to follow it, but it has the good sign up bonus cards.

Valetta

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Re: Choosing The Right Credit Card For My Advantage
« Reply #2 on: August 18, 2015, 02:19:35 PM »
My husband is starting a school program that is completely employer reimbursed too. I looked into putting the tuition on our credit card and the school charges you a 3% transaction fee if you put it on a credit card. I really wanted to do it for the rewards points just like you are proposing.We do use a credit card for almost everything and pay it off in full every month. The rewards points are great! I was really disappointed when I found out I couldn't do it. Even with the rewards points, the math doesn't work out with the transaction fee.

I've heard that passing along the transaction fee isn't uncommon so you should just double check that before you get your hopes up.



fitfrugalfab

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Re: Choosing The Right Credit Card For My Advantage
« Reply #3 on: August 19, 2015, 11:36:04 AM »
My DH and I use travel rewards credit cards. If you travel a lot they are definitely worth it. As an example, I have a Hilton Honors Amex. Right now they offer 40,000 Hilton HHonors Bonus Points after you spend $750 in purchases on the Card within your first 3 months
I've only had the card for a year and I already used my points to pay for a hotel on the Vegas strip for 5 nights when I got married.
I also have a USAA Amex that gives you nice cash back rewards that go back into paying your balance once a year.

JUST MAKE SURE YOU DON'T FORGET TO PAY THE BALANCE! These cards aren't worth it if you're paying interest.

Cwadda

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Re: Choosing The Right Credit Card For My Advantage
« Reply #4 on: August 19, 2015, 11:45:24 AM »
Check out the link in my signature.