Author Topic: Favorite Rewards Cards?  (Read 5923 times)

mjs111

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Favorite Rewards Cards?
« on: August 04, 2014, 09:52:15 AM »
Hi guys,

Currently I have a credit card that's no-fee but also doesn't offer any rewards.  Anyone have any favorites here? Interest rate isn't much of a factor since I pay it off every month. 

Thanks!

Mike

Angie55

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Re: Favorite Rewards Cards?
« Reply #1 on: August 04, 2014, 10:17:02 AM »
I have  2 depending on where I shop.

Gas/Groceries - Amex Blue Cash Preferred. (3% gas, 6% groceries)
Everything Else - Priceline Rewards Visa. 2% Cashback. Redeemable once the purchase is cleared - Don't even have to wait for the statement! My favorite card ever. Not sure if it is still available anymore or if I'm just grandfathered in. Also, this has been the best to work with dealing with fraudelent activity. Flags real problems fast and overnights a card out.

MoneyCat

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Re: Favorite Rewards Cards?
« Reply #2 on: August 04, 2014, 10:45:51 AM »
The Discover It card has been very good to me.  Discover has rotating categories every quarter which offer 5% cashback for purchases up to $1500.  This quarter's category has been gasoline, so that's been very useful.  The previous quarter was home improvement.  All other purchases outside the 5% categories give you 1% cashback.  Another nice feature is their Shop Discover website, which offers discounts of 5% to 20%  with various online retailers.  This card has no annual fee.

frugaliknowit

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Re: Favorite Rewards Cards?
« Reply #3 on: August 04, 2014, 10:51:46 AM »
Capital One Quicksilver.  No BS 1.5% on everything, available pretty much immediately, no rotating categories, no annual fee, no foreign exchange fees, and no "we don't take Amex" and no "we don't take Discover".

Emilyngh

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Re: Favorite Rewards Cards?
« Reply #4 on: August 04, 2014, 11:05:50 AM »
Hi guys,

Currently I have a credit card that's no-fee but also doesn't offer any rewards.  Anyone have any favorites here? Interest rate isn't much of a factor since I pay it off every month. 

Thanks!

Mike

Amex bluecash preferred for gas and groceries

We then churn for signup bonuses for other purchases (get $x if spend $x in first 90 days).   We've been doing this for the past year, have made more than $2k tax free from it, and unbelievably have not run out of cards to open or had it ding our credit enough to be denied.   I look online to find a card we haven't used, open it in one of our names, watch to see when we're close to the spending requirements, then usually apply for the same card in the other person's name (easier to track that we've both done that card), redeem the rewards, and close the card.     

nawhite

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Re: Favorite Rewards Cards?
« Reply #5 on: August 04, 2014, 11:11:51 AM »
Barclay World Arrival MasterCard. 2.22% cash back on EVERYTHING when you have travel spending to redeem for. $400 sign up bonus. $89 annual fee waived the first year.

People get uppity about the travel rewards but they are pretty great in my opinion. You save up your 2% cash back, then when you have a travel expense, you use the "cash back" to remove/discount the travel expense from your bill. Then you get 10% of your points back.

I rent a car or fly about every 3 months so those purchases just get reduced/eliminated. Makes it very simple.

There is no "order a flight through our website." No "Use your rewards on our airline's flights only." No "redeem for full night stays in our hotel." Just "oh look at that, I guess you stayed at a random little mom and pop bed and breakfast a month ago. Do you want that to disappear? Sure? Ok we'll use your points for that."

sunnyca

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Re: Favorite Rewards Cards?
« Reply #6 on: August 04, 2014, 11:54:15 AM »
Capital One Quicksilver (1.5% back on everything, and you receive Visa Signature benefits), and the Discover IT card (1% back on everything, and addt'l 5% rewards each quarter).

No fee, and they sometimes have promotions for signing up (I think I received $150 for the Discover and $200 for the Capital One).

NoraLenderbee

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Re: Favorite Rewards Cards?
« Reply #7 on: August 04, 2014, 12:16:09 PM »
I've had a United VISA card for years that gives me miles. It earns my husband a free trip overseas to visit his family every couple of years. However, United is changing the rules pretty soon, and we are (finally) considering dropping it for something that provides cash back or discounts on purchases. I like the Amazon rewards card because we do a fait bit of our shopping on Amazon.

firelight

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Re: Favorite Rewards Cards?
« Reply #8 on: August 04, 2014, 12:22:47 PM »
I use fidelity amex card since it gives 2% cash back on everything... I also use boa card for 3% on gas. Since we don't spend a lot on any particular category like groceries, home improvement, etc the general cash back has worked well for us

shotgunwilly

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Re: Favorite Rewards Cards?
« Reply #9 on: August 04, 2014, 12:23:13 PM »
Barclay World Arrival MasterCard. 2.22% cash back on EVERYTHING when you have travel spending to redeem for. $400 sign up bonus. $89 annual fee waived the first year.

People get uppity about the travel rewards but they are pretty great in my opinion. You save up your 2% cash back, then when you have a travel expense, you use the "cash back" to remove/discount the travel expense from your bill. Then you get 10% of your points back.

I rent a car or fly about every 3 months so those purchases just get reduced/eliminated. Makes it very simple.

There is no "order a flight through our website." No "Use your rewards on our airline's flights only." No "redeem for full night stays in our hotel." Just "oh look at that, I guess you stayed at a random little mom and pop bed and breakfast a month ago. Do you want that to disappear? Sure? Ok we'll use your points for that."

This is also my favorite. It is a neat card, and even provides you with your credit score anytime you want.  I use Chase Freedom for their 5% revolving categories, AMEX Blue Cash Preferred for groceries and gas (when Chase isn't 5% for gas), and the Barclay card for every other purchase I make.

tyd450

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Re: Favorite Rewards Cards?
« Reply #10 on: August 04, 2014, 12:29:06 PM »
Fidelity American Express for 2% cash back on everything and the the Capital One Quicksilver Visa for 1.5% cash back when Amex isn't accepted.

Sylly

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Re: Favorite Rewards Cards?
« Reply #11 on: August 04, 2014, 01:33:54 PM »
So I noticed people who have Blue Cash so far have the Preferred ($75 annual fee) version. I currently have Everyday (no annual fee) version, and the last time I checked, the extra %cash back from the Preferred doesn't work for me.

How does the math work for you guys to justify the annual fee? Do you just have a large enough grocery/gas spending, or is there some trick to it?
 
Oh, and to answer the question:

Blue Cash Everyday for groceries / gas (though with Costco gas, not sure if they count as gas).
Discover for everything else
Chase Freedom for places that don't take Amex/Discover

I maximize categories, and that's the extent of my rewards optimization. Can definitely do better, but I don't want to bother.
« Last Edit: August 04, 2014, 01:39:44 PM by Sylly »

Angie55

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Re: Favorite Rewards Cards?
« Reply #12 on: August 04, 2014, 01:40:59 PM »
We usually spend about 200-250 at regular grocery stores (sam's club doesn't count). At a 3% differential I still net ~$20-50 extra per year. Its not much but I'm on the fence about buying a house in the next year so I've been holding up on switchup up my credit card strategy.

mjs111

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Re: Favorite Rewards Cards?
« Reply #13 on: August 04, 2014, 01:46:53 PM »
Thanks, everyone!

I few people (hi,  sunnyca!) have mentioned Capital One Quicksilver card.  How does the 1.5% cash back work? Is it an immediate discount applied every month?

Mike


boognish

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Re: Favorite Rewards Cards?
« Reply #14 on: August 04, 2014, 02:29:46 PM »
Note on the Amex Blue Cash Preferred:

The 6% cash back on groceries can be used to purchase gift cards. I buy Amazon gift cards from the grocer and essentially get 6% off all Amazon purchases. You could go buck wild with this with other restaurants/stores

The grocery reward is capped at 6k annually, but I don't come anywhere near that with food and gift cards.

sunnyca

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Re: Favorite Rewards Cards?
« Reply #15 on: August 04, 2014, 03:30:05 PM »
I few people (hi,  sunnyca!) have mentioned Capital One Quicksilver card.  How does the 1.5% cash back work? Is it an immediate discount applied every month?

Hi Mike! :)

The 1.5% cash back shows up as rewards, and when you reach $50 in rewards, you can opt to apply it to your credit balance or receive a check.

Gin1984

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Re: Favorite Rewards Cards?
« Reply #16 on: August 04, 2014, 03:36:27 PM »
Hi guys,

Currently I have a credit card that's no-fee but also doesn't offer any rewards.  Anyone have any favorites here? Interest rate isn't much of a factor since I pay it off every month. 

Thanks!

Mike

Amex bluecash preferred for gas and groceries

We then churn for signup bonuses for other purchases (get $x if spend $x in first 90 days).   We've been doing this for the past year, have made more than $2k tax free from it, and unbelievably have not run out of cards to open or had it ding our credit enough to be denied.   I look online to find a card we haven't used, open it in one of our names, watch to see when we're close to the spending requirements, then usually apply for the same card in the other person's name (easier to track that we've both done that card), redeem the rewards, and close the card.     
Which ones have you used?