Author Topic: Reward Cards  (Read 1803 times)

Beach_Stache

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Reward Cards
« on: November 07, 2015, 07:15:09 AM »
Hi All,
I have been meaning to sign up for a good rewards credit card but haven't gotten around to it, and am still using a mix of my Debit card and Credit Cards that really give me no good rewards.  I don't travel much but maybe that would be there in the future.  I'm really looking for the best rewards card to keep for years and not just sign up and cancel to get the points.  Maybe something that you can use for travel or cash back or whatever you want (not tied into restrictions or black out dates).  I would like a card with no fees as I would plan to keep it for a while (as long as the promotions aren't better somewhere else) and basically use it for all transactions and then pay in full at the end of the month.  Any advise or good websites that can compare cards with what my requirements are?
Thanks!

vhalros

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Re: Reward Cards
« Reply #1 on: November 07, 2015, 07:59:12 AM »
Citi Double Cash is one of the best all around rewards cards; you get 1 % cash back on purchases, and 1 % cash back on payments, effectively making it 2% cash back if you pay the balance in full every month (which, of course, you should or no amount of rewards will help you). You will need excellent credit to get it.

You can find info on lots of different cards here: http://www.nerdwallet.com/credit-cards/

nienajadly

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Re: Reward Cards
« Reply #2 on: November 07, 2015, 08:00:55 AM »
I have a Bank of America cash rewards card with $0 yearly fee that I like.  It gives 1% on everything, 2% at grocery stores and 3% at gas stations.  I also have a Capital One cash rewards that gives 1.5% on everything but with a $35/year fee.  I tend to use it well enough that I make a lot more back than I pay out.

Radagast

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Re: Reward Cards
« Reply #3 on: November 08, 2015, 01:28:27 AM »
I just looked into this myself. For only one card the 2% on everything Citi Double Cash is best, or something like the Fidelity 2% if you want to invest directly (but I also read there may be reasons to not like that one). If you spend more than a couple $1,000 at grocery stores (excluding warehouses and Walmart) the Blue Cash Preferred card does 6% groceries and 3% gas, and will much more than repay the $75 annual fee (I did the math and got this one first, will add a 2% one shortly). Otherwise they have a no-fee version with lower rewards. Finally there is a PenFed signature card that does 4.25% gas and 2.55% groceries with no fee. Plus some travel cards. You can see more options on this very website's recommendations.

Beach_Stache

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Re: Reward Cards
« Reply #4 on: November 08, 2015, 05:51:25 AM »
Thanks for the info!  Just got the Citi Double Cash card!

winostache

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Re: Reward Cards
« Reply #5 on: November 08, 2015, 05:58:50 AM »
The CapitalOne Venture card has 2% cash back across all categories. I've been using it for a few years now and I make enough in rewards to justify the annual fee. The 1.5% cash back version does not have a fee, last I knew, if your monthly spending is less (I average about $1,000/mo).

The best way to redeem the cash back is through travel, which CapitalOne takes a broad view of. I've redeemed against public transportation, Uber, AirBnB, and traditional travel like plane tickets.  The points don't expire either, so you can store up a lot over time, which helps when your in a travel slow spell, or you can partially redeem if you have a big travel expense before you earn a lot of cash back.  The only deadline to consider is that travel charges can  be redeemed against for 90 days.

The web interface and mobile app are pretty good too, if that's something you look for.


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