Author Topic: Credit card recommendation  (Read 14063 times)

rockstache

  • Walrus Stache
  • *******
  • Posts: 6891
  • Age: 2017
  • Location: Northeast
Credit card recommendation
« on: May 24, 2013, 08:52:40 AM »
I am looking to get a good credit card for rewards purposes. I really don't want to pay an annual fee, but I don't care what the interest rate is, as I will be paying it off each month. My husband and I enjoy travel, so a flight miles card would be nice, but not necessary. Gas and groceries would work just as well. Does anyone have any suggestions, or cards they really love?

netskyblue

  • Pencil Stache
  • ****
  • Posts: 637
  • Location: Midwest USA
Re: Credit card recommendation
« Reply #1 on: May 24, 2013, 09:11:14 AM »
I really like my Chase Freedom card.  I don't care about things like miles or "gifts" to choose from, I use mine for straight cash back.  Every quarter there's a few categories that get you 5% cash back, and everything else is 1% cash back.

If you shop at Target a lot, they have the Red Card which I have as the debit card (I don't know if there's an advantage to the credit card), which will save you 5% on all purchases at Target.

If you have a Costco membership, they have their American Express card which will save you 2% on gasoline, including gas at Costco, and saves you 1% on purchases made at Costco (and purchases elsewhere, but it's the only credit card accepted at Costco, so the only way to save that extra % there).  No annual fee with your paid Costco membership.

That's all I use anymore.  I still have one open from a long time ago, to keep that boost to my credit score, but don't use it as it doesn't have as good of rewards as the others.

RewardTraveler

  • 5 O'Clock Shadow
  • *
  • Posts: 27
Re: Credit card recommendation
« Reply #2 on: May 24, 2013, 10:53:45 AM »
I am looking to get a good credit card for rewards purposes. I really don't want to pay an annual fee, but I don't care what the interest rate is, as I will be paying it off each month. My husband and I enjoy travel, so a flight miles card would be nice, but not necessary. Gas and groceries would work just as well. Does anyone have any suggestions, or cards they really love?

It all depends on what kind of rewards you want.  If you want a simple cash back card, you should be able to find something that gives back ~2%.  If you want to open multiple cards you can find some with category bonuses above 2% (like the Chase Freedom), but usually the base cash back on those cards is 1% so you need different cards to match each category.

If you're into travelling you can find air/hotel cards out there that will end up saving you more than 2%, assuming you're flexible in your travel and it is travel you would have made even without the rewards.

madage

  • Bristles
  • ***
  • Posts: 405
  • Location: TX
Re: Credit card recommendation
« Reply #3 on: May 24, 2013, 12:13:55 PM »
My husband and I enjoy travel, so a flight miles card would be nice

This may be the best overall travel card right now. Two points per dollar on all spending and redeem for travel with 10% bonus (basically 2.2% back when redeemed for travel). I know you said you'd prefer to avoid an annual fee, but the 40,000 sign-up bonus pays the annual fee for the first ~4.5 years. There's also a no-fee card with only a 20,000 point bonus and a 2 points travel/1 point everything else reward structure. The no-fee card also gives the 10% bonus when redeemed for travel.

This Fatwallet thread has a ton of information on reward credit cards and the "Quick Summary" (second post) is typically up-to-date with the best offers.

I encourage you to not discount cards just because of an annual fee. The annual fee can be worth it under the right circumstances. Do the math.

StarryC

  • Bristles
  • ***
  • Posts: 283
Re: Credit card recommendation
« Reply #4 on: May 24, 2013, 01:26:26 PM »
I wish I'd seen that Barclay Card!  I just got the Chase Sapphire Preferred for these purposes.  It doesn't seem much worse, but a little.

Spend $3,000 in the first 3 months for a 40,000 point bonus ($500 in travel because of a 20% discount on travel or something).  2X points on travel and dining (which includes mass transit and parking in your own city apparently.)  Since I buy a transit pass and pay for parking and am reimbursed by my work, that is an extra bonus for me.  Also bonus points if you do your online shopping through their portal, and a 7% bonus each February on all earned points.  No annual fee the first year, and it sounds like if you call them at the end and say you are going to cancel they will likely waive it the second year.  I think this is going to mean the free $500 travel soon, and then after two years about another $400 or so in travel free.  I'll probably cancel it then, and see who else has a bonus.  Even if I pay a $100 fee the second year, I'll come out about $800 ahead.

KidneyBeansMD

  • 5 O'Clock Shadow
  • *
  • Posts: 27
Re: Credit card recommendation
« Reply #5 on: May 24, 2013, 03:43:29 PM »
I have a Citi Forward card with no annual fee. It uses the ThankYou rewards system and I've had no problems with their service.

Khan

  • Pencil Stache
  • ****
  • Posts: 616
Re: Credit card recommendation
« Reply #6 on: May 24, 2013, 04:21:01 PM »
I only have one credit card, a Navy Federal Cash Rewards card(1%). The points never expire, no fee, and all the rest of my banking is through Navy Federal so that's that.

If I was willing to actually deal with any hassle, I'd go with the Costco American Express. I'll have a Costco membership for as long as I live near one, and since it's free with your membership...

madage

  • Bristles
  • ***
  • Posts: 405
  • Location: TX
Re: Credit card recommendation
« Reply #7 on: May 24, 2013, 05:58:16 PM »
I have a Citi Forward card with no annual fee. It uses the ThankYou rewards system and I've had no problems with their service.

The biggest problem with ThankYou rewards is the comparatively poor redemption rates (usually 6,000 points for a $50 gift card, depends on what account(s) you have) and the rigamarole you have to go through the get cash through the program at a normal rate (10,000 points = $100).

RedMaple

  • Stubble
  • **
  • Posts: 130
  • Age: 37
  • Location: NYC
Re: Credit card recommendation
« Reply #8 on: May 24, 2013, 07:12:17 PM »
I am looking to get a good credit card for rewards purposes. I really don't want to pay an annual fee, but I don't care what the interest rate is, as I will be paying it off each month. My husband and I enjoy travel, so a flight miles card would be nice, but not necessary. Gas and groceries would work just as well. Does anyone have any suggestions, or cards they really love?

It all depends on what kind of rewards you want.  If you want a simple cash back card, you should be able to find something that gives back ~2%.  If you want to open multiple cards you can find some with category bonuses above 2% (like the Chase Freedom), but usually the base cash back on those cards is 1% so you need different cards to match each category.

If you're into travelling you can find air/hotel cards out there that will end up saving you more than 2%, assuming you're flexible in your travel and it is travel you would have made even without the rewards.

Can you recommend a credit card that pays over 1% on everything? I'm not talking about the cards that raise your percentage average with 5% quarterly categories.

Drake

  • 5 O'Clock Shadow
  • *
  • Posts: 10
Re: Credit card recommendation
« Reply #9 on: May 24, 2013, 07:46:16 PM »
CapitalOne has a few decent cash back cards. I have another CapitalOne NoHassle Cash back, 1% cash back on all purchases and 2% cash on gas and groceries. (no annual fee and no international fee) I know BofA has a similar card where it's 2% on grocery and 3% on gas.

I also have the previously mentioned Chase Freedom card and I'll use that one for whatever the 5% categories are that quarter. Last year one quarter was grocery stores which was really sweet but they don't have that one this year. Sometimes the 5% categories aren't something I use and I don't end up using the card much. I can't remember if this card has an international fee or not.

The online account accessing for both is easy and convenient enough. CC's aren't a huge hassle when they get paid in full and you're not dealing with fees, annual fees, or interest rates so it's hard for me to say which ones I "love". they're mostly the same across the board with cards i own or ones I've looked at while shopping for one.
« Last Edit: May 24, 2013, 08:24:56 PM by Drake »

madage

  • Bristles
  • ***
  • Posts: 405
  • Location: TX
Re: Credit card recommendation
« Reply #10 on: May 24, 2013, 07:50:51 PM »

Can you recommend a credit card that pays over 1% on everything? I'm not talking about the cards that raise your percentage average with 5% quarterly categories.

Priceline Visa. This is the only application link I know of for the 2% on everything card. There is probably some referral embedded in the URL (not mine), but the Terms and Conditions clearly state 2 points per dollar. No annual fee.

Fidelity 2% Amex. If you're not already a Fidelity customer, just open a free cash management account to collect the cash back, then transfer to your account of choice. Fidelity's ACH transfers are fast and free. No annual fee.

FIA Card Services also offers this Fidelity-branded Visa card that offers 1.5% cash back on the first $15,000 in annual spending, and 2% back after that. Also no annual fee.

Barclay Arrival World Mastercard. Earn 2 points per dollar. 10% bonus when points redeemed for travel. 40,000 point bonus after meeting spending requirement. $89 annual fee.

BankAmericard Privileges with Travel Rewards. This one looks pretty good, too, but I haven't heard much about it. $75 annual fee starting the second year.

That should get you started. Do check out the Fatwallet thread if you want to know more.

edited to add the Fidelity 1.5%/2% Visa card.
« Last Edit: May 24, 2013, 07:57:58 PM by madage »

RedMaple

  • Stubble
  • **
  • Posts: 130
  • Age: 37
  • Location: NYC
Re: Credit card recommendation
« Reply #11 on: May 24, 2013, 08:52:49 PM »

Can you recommend a credit card that pays over 1% on everything? I'm not talking about the cards that raise your percentage average with 5% quarterly categories.

Priceline Visa. This is the only application link I know of for the 2% on everything card. There is probably some referral embedded in the URL (not mine), but the Terms and Conditions clearly state 2 points per dollar. No annual fee.

Fidelity 2% Amex. If you're not already a Fidelity customer, just open a free cash management account to collect the cash back, then transfer to your account of choice. Fidelity's ACH transfers are fast and free. No annual fee.

FIA Card Services also offers this Fidelity-branded Visa card that offers 1.5% cash back on the first $15,000 in annual spending, and 2% back after that. Also no annual fee.

Barclay Arrival World Mastercard. Earn 2 points per dollar. 10% bonus when points redeemed for travel. 40,000 point bonus after meeting spending requirement. $89 annual fee.

BankAmericard Privileges with Travel Rewards. This one looks pretty good, too, but I haven't heard much about it. $75 annual fee starting the second year.

That should get you started. Do check out the Fatwallet thread if you want to know more.

edited to add the Fidelity 1.5%/2% Visa card.

Thanks for getting back to me. It seems like the ones that offer over 1% are mostly for travel/not cash back.

madage

  • Bristles
  • ***
  • Posts: 405
  • Location: TX
Re: Credit card recommendation
« Reply #12 on: May 24, 2013, 08:57:10 PM »

Thanks for getting back to me. It seems like the ones that offer over 1% are mostly for travel/not cash back.

The first three links are all cash back in my book. The Priceline card allows you to select a recent transaction over $25 and use your points to credit that amount to your statement. Both Fidelity cards redeem points at a 1 point=$0.01 rate to a linked Fidelity account whenever the total is above $50 at the end of a month.

RedMaple

  • Stubble
  • **
  • Posts: 130
  • Age: 37
  • Location: NYC
Re: Credit card recommendation
« Reply #13 on: May 24, 2013, 08:59:17 PM »
I really like my Chase Freedom card.  I don't care about things like miles or "gifts" to choose from, I use mine for straight cash back.  Every quarter there's a few categories that get you 5% cash back, and everything else is 1% cash back.

If you shop at Target a lot, they have the Red Card which I have as the debit card (I don't know if there's an advantage to the credit card), which will save you 5% on all purchases at Target.

If you have a Costco membership, they have their American Express card which will save you 2% on gasoline, including gas at Costco, and saves you 1% on purchases made at Costco (and purchases elsewhere, but it's the only credit card accepted at Costco, so the only way to save that extra % there).  No annual fee with your paid Costco membership.

That's all I use anymore.  I still have one open from a long time ago, to keep that boost to my credit score, but don't use it as it doesn't have as good of rewards as the others.

I find Chase Freedom to be a bit of a crappy card in that the 5% revolving categories rarely fit my lifestyle. This year I only used drugstore and restaurants... It seems to me the solution is to have 3-4 cards that are used depending on the time and product you're purchasing.

RedMaple

  • Stubble
  • **
  • Posts: 130
  • Age: 37
  • Location: NYC
Re: Credit card recommendation
« Reply #14 on: May 24, 2013, 09:03:33 PM »

Thanks for getting back to me. It seems like the ones that offer over 1% are mostly for travel/not cash back.

The first three links are all cash back in my book. The Priceline card allows you to select a recent transaction over $25 and use your points to credit that amount to your statement. Both Fidelity cards redeem points at a 1 point=$0.01 rate to a linked Fidelity account whenever the total is above $50 at the end of a month.

True, but you have to put in additional effort; like open an account at Fido. Also, kind of weird that priceline also offers cash as an option - since it's a travel website.

madage

  • Bristles
  • ***
  • Posts: 405
  • Location: TX
Re: Credit card recommendation
« Reply #15 on: May 24, 2013, 09:09:31 PM »

True, but you have to put in additional effort; like open an account at Fido. Also, kind of weird that priceline also offers cash as an option - since it's a travel website.

Opening a Fidelity account is not much of a barrier. It might take you ten minutes.

Let me put it this way: there are no credit cards offering better than 1% cash back cards that, if you don't already have it, require zero effort to acquire.

madage

  • Bristles
  • ***
  • Posts: 405
  • Location: TX
Re: Credit card recommendation
« Reply #16 on: May 24, 2013, 09:11:10 PM »

If you shop at Target a lot, they have the Red Card which I have as the debit card (I don't know if there's an advantage to the credit card), which will save you 5% on all purchases at Target.

Free float is always a nice advantage for the credit card, in my book.

chucklesmcgee

  • Pencil Stache
  • ****
  • Posts: 613
Re: Credit card recommendation
« Reply #17 on: May 24, 2013, 10:17:55 PM »

True, but you have to put in additional effort; like open an account at Fido. Also, kind of weird that priceline also offers cash as an option - since it's a travel website.

Opening a Fidelity account is not much of a barrier. It might take you ten minutes.

Let me put it this way: there are no credit cards offering better than 1% cash back cards that, if you don't already have it, require zero effort to acquire.

I concur. You just open a Fidelity checking account, which has no minimums or anything, for free. You redeem your bonus into the Fidelity checking account. Then you can transfer the money from the Fidelity checking account to your main account using a free ACH transfer system Fidelity has in place. Takes about 3 minutes to redeem your points in the future.

madage

  • Bristles
  • ***
  • Posts: 405
  • Location: TX
Re: Credit card recommendation
« Reply #18 on: May 24, 2013, 10:20:13 PM »

I concur. You just open a Fidelity checking account, which has no minimums or anything, for free. You redeem your bonus into the Fidelity checking account. Then you can transfer the money from the Fidelity checking account to your main account using a free ACH transfer system Fidelity has in place. Takes about 3 minutes to redeem your points in the future.

When I had the Fidelity Visa, I just had to establish the link to my cash management account just once, then the redemption into the account happened automatically. Is that no longer the case?

chucklesmcgee

  • Pencil Stache
  • ****
  • Posts: 613
Re: Credit card recommendation
« Reply #19 on: May 24, 2013, 10:32:07 PM »

I concur. You just open a Fidelity checking account, which has no minimums or anything, for free. You redeem your bonus into the Fidelity checking account. Then you can transfer the money from the Fidelity checking account to your main account using a free ACH transfer system Fidelity has in place. Takes about 3 minutes to redeem your points in the future.

When I had the Fidelity Visa, I just had to establish the link to my cash management account just once, then the redemption into the account happened automatically. Is that no longer the case?

It still is the case. Money can be set to automatically be redeemed into the Fidelity Checking account. But it takes an extra two manual clicks to transfer those funds for free from Fidelity Checking to whatever other checking account I assume you prefer using.

beeth_oven

  • 5 O'Clock Shadow
  • *
  • Posts: 39
Re: Credit card recommendation
« Reply #20 on: May 27, 2013, 11:42:43 PM »
What do you usually spend your money on? I have Chase Freedom but I rarely spend very much in their rotating categories. I'm considering Discover It because I do a lot of online shopping and you can get 5-10% back by shopping through their "mall".

RewardTraveler

  • 5 O'Clock Shadow
  • *
  • Posts: 27
Re: Credit card recommendation
« Reply #21 on: May 28, 2013, 08:30:39 AM »

Can you recommend a credit card that pays over 1% on everything? I'm not talking about the cards that raise your percentage average with 5% quarterly categories.

Priceline Visa. This is the only application link I know of for the 2% on everything card. There is probably some referral embedded in the URL (not mine), but the Terms and Conditions clearly state 2 points per dollar. No annual fee.

Fidelity 2% Amex. If you're not already a Fidelity customer, just open a free cash management account to collect the cash back, then transfer to your account of choice. Fidelity's ACH transfers are fast and free. No annual fee.

FIA Card Services also offers this Fidelity-branded Visa card that offers 1.5% cash back on the first $15,000 in annual spending, and 2% back after that. Also no annual fee.

Barclay Arrival World Mastercard. Earn 2 points per dollar. 10% bonus when points redeemed for travel. 40,000 point bonus after meeting spending requirement. $89 annual fee.

BankAmericard Privileges with Travel Rewards. This one looks pretty good, too, but I haven't heard much about it. $75 annual fee starting the second year.

That should get you started. Do check out the Fatwallet thread if you want to know more.

edited to add the Fidelity 1.5%/2% Visa card.

This is a really good list.  The Priceline Visa would be my just use it and forget it card if simplicity was a primary concern.  I'd give it the nod over the Fidelity Amex as Visa cards are accepted at more locations.

I currently use the CapitalOne Venture card as it essentially provides 2% cash back (2 "miles" per dollar spent that can be redeemed for travel or gift cards at 1 mile = 1 cent) and it had a nice sign-up bonus (100,000 miles) when I picked it up a couple of years ago.  It has an annual fee of $59, but it has been waived every year so far for me.  Whenever they decide they no longer want to waive the fee I'll probably switch to the Priceline Visa.

madage

  • Bristles
  • ***
  • Posts: 405
  • Location: TX
Re: Credit card recommendation
« Reply #22 on: May 28, 2013, 08:59:59 AM »

This is a really good list. 

Thanks! I'm debating starting a "Credit Card Superguide" in the vein of the communications Superguide started by I.P. Daley. I have a vision, but I'm not convinced I can execute it at the level I want to. I need to not let perfect be the enemy of good and just get started.

Quote
The Priceline Visa would be my just use it and forget it card if simplicity was a primary concern.  I'd give it the nod over the Fidelity Amex as Visa cards are accepted at more locations.

I also consider a 2% on everything Visa or Mastercard to be the gold standard. I used to have the 2% Schwab Visa before that card was discontinued and replaced with the BankAmericard 3/2/1 card, which is still sitting in my filing cabinet. If you're interested in the 2% Priceline card, I highly recommend applying for it soon. I can't find a link to the 2% version on the website (everything just shows 1%), which is why I posted the link I found on FatWallet. That link will probably break by the end of summer, if not sooner.

In my experience, 2% cash back cards are fleeting, so you have to be willing to switch providers to keep chasing the maximum cash back train.

RewardTraveler

  • 5 O'Clock Shadow
  • *
  • Posts: 27
Re: Credit card recommendation
« Reply #23 on: May 28, 2013, 10:09:23 AM »


Thanks! I'm debating starting a "Credit Card Superguide" in the vein of the communications Superguide started by I.P. Daley. I have a vision, but I'm not convinced I can execute it at the level I want to. I need to not let perfect be the enemy of good and just get started.


I also consider a 2% on everything Visa or Mastercard to be the gold standard. I used to have the 2% Schwab Visa before that card was discontinued and replaced with the BankAmericard 3/2/1 card, which is still sitting in my filing cabinet. If you're interested in the 2% Priceline card, I highly recommend applying for it soon. I can't find a link to the 2% version on the website (everything just shows 1%), which is why I posted the link I found on FatWallet. That link will probably break by the end of summer, if not sooner.

In my experience, 2% cash back cards are fleeting, so you have to be willing to switch providers to keep chasing the maximum cash back train.

If you'd like any help in reviewing a draft of such a superguide, let me know.

I agree the Priceline card is probably short on life... Although it is nice to have a 2% card I can always fall back on, I usually find myself chasing a sign-up bonus for most of my spend so the marginal impact of picking it up isn't that great.  If I miss out on it, I'm sure something else will pop up.

simonsez

  • Handlebar Stache
  • *****
  • Posts: 1056
  • Age: 35
  • Location: Midwest
Re: Credit card recommendation
« Reply #24 on: June 04, 2013, 11:17:25 AM »
My credit card stable currently consists of:

Chase Freedom Visa: 5% back on rotating categories, 1% everything else, incredible user-friendly rewards program when redeeming points, no annual fee
note: yeah 5% back on some of the categories may not always be optimal (grocery and gas were nice before I had my Mastercard cc), but at least they change and that's why it can help to have multiple cards

Costco Amex - 3% back on gas everywhere except at wholesale retailers not named Costco, 2% back on restaurants and certain travel expenses, 1% everywhere else, no annual fee when executive member
note: being an executive member to get the $0 Amex annual fee costs $110 instead of $55 (cost of Gold membership) at Costco, first year you get a $55 rebate so you essentially get executive membership for free for the first year, you also get 2% back on everything at Costco aside from your Amex charges, had less than a year so unsure if we will earn back >$55 in rewards

Sallie Mae World Mastercard (through Barclays Bank Delaware) - 5% back on gas, 5% back on groceries, 5% back on books (including amazon.com), 1% on everything else, no annual fee
note:  5% back is for first $250/month on gas and groceries and for first $750/month (haha, seriously?) on books.  Rewards can be redeemed to pay down a Sallie Mae loan, put in a Upromise account, deducted from account balance, used for cash, put toward a gift card, or to buy merchandise.

My wife has a Southwest Visa that  is basically only 1% on everything and 2% on Southwest stuff.  It also has an annual fee of $49 but was well worth it due to the 50,000 point bonus (~$850 in flights were redeemed from that) she received she she signed up a few years ago.  She also gets an anniversary point bonus which is pretty close to the annual fee. 
Note: 100 points does not equal $1

We usually get >1% on what we spend.  When something is 1% back, I opt for the Chase Freedom Visa due the ease of usage with their Ultimate Rewards.  I bought my wife a good pair of boots for her Christmas present mostly with Zappo's gift cards purchased through Chase Freedom's Ultimate Rewards at the discounted $25 for 2000 points rate they offered awhile ago.

RedMaple

  • Stubble
  • **
  • Posts: 130
  • Age: 37
  • Location: NYC
Re: Credit card recommendation
« Reply #25 on: June 04, 2013, 11:36:37 AM »
My credit card stable currently consists of:

Chase Freedom Visa: 5% back on rotating categories, 1% everything else, incredible user-friendly rewards program when redeeming points, no annual fee
note: yeah 5% back on some of the categories may not always be optimal (grocery and gas were nice before I had my Mastercard cc), but at least they change and that's why it can help to have multiple cards

Costco Amex - 3% back on gas everywhere except at wholesale retailers not named Costco, 2% back on restaurants and certain travel expenses, 1% everywhere else, no annual fee when executive member
note: being an executive member to get the $0 Amex annual fee costs $110 instead of $55 (cost of Gold membership) at Costco, first year you get a $55 rebate so you essentially get executive membership for free for the first year, you also get 2% back on everything at Costco aside from your Amex charges, had less than a year so unsure if we will earn back >$55 in rewards

Sallie Mae World Mastercard (through Barclays Bank Delaware) - 5% back on gas, 5% back on groceries, 5% back on books (including amazon.com), 1% on everything else, no annual fee
note:  5% back is for first $250/month on gas and groceries and for first $750/month (haha, seriously?) on books.  Rewards can be redeemed to pay down a Sallie Mae loan, put in a Upromise account, deducted from account balance, used for cash, put toward a gift card, or to buy merchandise.

My wife has a Southwest Visa that  is basically only 1% on everything and 2% on Southwest stuff.  It also has an annual fee of $49 but was well worth it due to the 50,000 point bonus (~$850 in flights were redeemed from that) she received she she signed up a few years ago.  She also gets an anniversary point bonus which is pretty close to the annual fee. 
Note: 100 points does not equal $1

We usually get >1% on what we spend.  When something is 1% back, I opt for the Chase Freedom Visa due the ease of usage with their Ultimate Rewards.  I bought my wife a good pair of boots for her Christmas present mostly with Zappo's gift cards purchased through Chase Freedom's Ultimate Rewards at the discounted $25 for 2000 points rate they offered awhile ago.


I've never heard of Sallie Mae World Mastercard (through Barclays Bank Delaware). Is it cash back - can you apply it to your outstanding credit card balance? If so, are there limitations to it? Do you need to have a loan?

simonsez

  • Handlebar Stache
  • *****
  • Posts: 1056
  • Age: 35
  • Location: Midwest
Re: Credit card recommendation
« Reply #26 on: June 04, 2013, 11:47:40 AM »
I've never heard of Sallie Mae World Mastercard (through Barclays Bank Delaware). Is it cash back - can you apply it to your outstanding credit card balance? If so, are there limitations to it? Do you need to have a loan?

Yes - yes.  I think you can only redeem in 2500 point increments.  No.

https://www.salliemae.com/landing/WorldCreditCard/

madage

  • Bristles
  • ***
  • Posts: 405
  • Location: TX
Re: Credit card recommendation
« Reply #27 on: June 05, 2013, 09:07:11 AM »

Quote
The Priceline Visa would be my just use it and forget it card if simplicity was a primary concern.  I'd give it the nod over the Fidelity Amex as Visa cards are accepted at more locations.

I also consider a 2% on everything Visa or Mastercard to be the gold standard. I used to have the 2% Schwab Visa before that card was discontinued and replaced with the BankAmericard 3/2/1 card, which is still sitting in my filing cabinet. If you're interested in the 2% Priceline card, I highly recommend applying for it soon. I can't find a link to the 2% version on the website (everything just shows 1%), which is why I posted the link I found on FatWallet. That link will probably break by the end of summer, if not sooner.


I've heard from multiple sources the 2% Priceline Visa is dead for new applicants. Those who applied with the 2% link had their applications canceled, as the only card available now is 1% on everything and 5% on priceline.com. As I said earlier:

Quote
In my experience, 2% cash back cards are fleeting, so you have to be willing to switch providers to keep chasing the maximum cash back train.

Christof

  • Pencil Stache
  • ****
  • Posts: 687
  • Age: 45
  • Location: Germany
Re: Credit card recommendation
« Reply #28 on: June 05, 2013, 09:46:16 AM »
I am looking to get a good credit card for rewards purposes. I really don't want to pay an annual fee, but I don't care what the interest rate is, as I will be paying it off each month. My husband and I enjoy travel, so a flight miles card would be nice, but not necessary. Gas and groceries would work just as well. Does anyone have any suggestions, or cards they really love?

Getting free flights and hotel stays via credit cards sounds intriguing, but make sure you do the math. A couple of thoughts:

The really big bonus is only the sign-up bonus. Beyond that they average between one and two miles per dollar spent. With rooms and flights costing 20,000 to 150,000 miles (depending on airline, destination and class of travel), you have to spend a similar amount in dollars. That means you probably need to save a few years for a single flight.

Keep in mind that airlines miles are also subject to inflation, strict inventory control and sometimes expiration rules. You might save for years only to find out that your miles expired or there's no flight available during the time you want to fly. Unless you fly for business or can spend someone else's money (business expenses, for instance), a single credit card is not the best way to obtain a free flight.

Collecting miles without spending too much requires constantly signing up for new credit cards to get the sign up bonuses and employing strategies that sometimes are borderline. Eg. using a credit card to buy a gift card at an office store (5% office supply cash back) to order ten thousands of one dollar coins from MINT, just to return those to a different bank and pay off the first credit card's balance. That was the big game played two years ago.

Once you are in this game (and it's just that, a game), it becomes hard to see alternatives, because you are on a constant hunt to collect miles and juggle with accounts. There are other options, that might get an even better return than credit cards, such as:

- ask for a rebate for paying cash. In many cases cash is cheaper for the merchant than a credit card. Therefore they might be willing to share their saving with you if you ask.

- for online shopping check out cash back portals. I'm not familiar with US cash back portals, but in the UK the leading one is quidco.com. In Germany qipu.de would be the corresponding portal. Cash back is often in the range of 4-10% and almost always higher than the credit card company cash back. Of course, you can also combine a credit card with a portal.

- Many shops offer affiliate links. If there's a particular online shop that you shop frequently that has an affiliate program you might sign up as an affiliate partner yourself and then use your own link.

Never forget: If there's room for any sort of reward, rebate or cash back, the asking price was already too high to begin with.