SDS Posted January 1, 2007 Share Posted January 1, 2007 This discussion is for those who pay off their credit cards each month... I always thought my Chase FreedomCard was pretty good, since you received 1% back cash on all purchases and 3% back on gas. That amount was credited to your bill each month. Well, I just read about BlueCash from AmEx and for me - it has twice the value: https://www124.americanexpress.com/cards/lo...k=CARD_SELECTOR 1.5% back on all purchases and 5% back on gas, groceries, and drugstore purchases once you charge $6500 for the year. They have a handy calculator to see if this card is for you: https://www124.americanexpress.com/cards/lo...uecash.maximize Depending on your habits - this could be $100-$1000 they PAY YOU to carry their card... With that kind of cash back, you could direct all your bills to be paid via the CC and really maximize your cashback (which, unfortunately is given back at the end of the year). Anyhow, don't be a fool and carry a useless card with a Bills logo on it that does nothing for you. Pay off your bill and find a card that PAYS YOU. Here is a good site to review CC deals: http://www.creditcardgoodies.com/ Link to comment Share on other sites More sharing options...
JÂy RÛßeÒ Posted January 1, 2007 Share Posted January 1, 2007 This discussion is for those who pay off their credit cards each month... We do pay off all credit cards every month. While it's probably not the best return out there, we use Citibank Aadvantage cards to get American Airlines miles. We get enough to fly our family of 4 plus a couple of invited guests (read: babysitters) to Hawaii every 4th year. Link to comment Share on other sites More sharing options...
SDS Posted January 1, 2007 Author Share Posted January 1, 2007 We do pay off all credit cards every month. While it's probably not the best return out there, we use Citibank Aadvantage cards to get American Airlines miles. We get enough to fly our family of 4 plus a couple of invited guests (read: babysitters) to Hawaii every 4th year. that's very interesting.... Link to comment Share on other sites More sharing options...
Fezmid Posted January 1, 2007 Share Posted January 1, 2007 I have an Amazon.com card -- 1% for all purchases, 3% for Amazon.com purchases, paid out in $25 gift certificates. I also have the Citibank Diamond Preferred card. I signed up because they gave me $150 to do so. I get 1 point/dollar, and 5 points/dollar at gas stations. I can get a $50 gift certificates for 5000-6000 points (depending on the store). It's my backup card in case my Amazon one doesn't work (credit card companies seem to like freezing accounts lately if they think there's "suspicious activity" on it. ) I also have a Charles Schwabb card that they paid me $150 to take. I'll probably cancel at some point as it doesn't integrate into Quicken at all and doesn't have good rewards (it was my backup card before the Citibank one). The one thing to look out for on cards is what the maximum bonus per year is. My Amazon card has no limit, but the Citibank is limited to 30,000 points if I recall. Sounds like a lot, but I charge EVERYTHING (including my insurance premiums), so it all adds up and you could end up closer than you think (especially when you take bonus points into consideration). The AmEx card Scott listed has no limit, which is nice. I'm not sold on the tiered structure though, but I should do the math to figure it out just in case... CW Link to comment Share on other sites More sharing options...
SDS Posted January 1, 2007 Author Share Posted January 1, 2007 I have an Amazon.com card -- 1% for all purchases, 3% for Amazon.com purchases, paid out in $25 gift certificates. I also have the Citibank Diamond Preferred card. I signed up because they gave me $150 to do so. I get 1 point/dollar, and 5 points/dollar at gas stations. I can get a $50 gift certificates for 5000-6000 points (depending on the store). It's my backup card in case my Amazon one doesn't work (credit card companies seem to like freezing accounts lately if they think there's "suspicious activity" on it. ) I also have a Charles Schwabb card that they paid me $150 to take. I'll probably cancel at some point as it doesn't integrate into Quicken at all and doesn't have good rewards (it was my backup card before the Citibank one). The one thing to look out for on cards is what the maximum bonus per year is. My Amazon card has no limit, but the Citibank is limited to 30,000 points if I recall. Sounds like a lot, but I charge EVERYTHING (including my insurance premiums), so it all adds up and you could end up closer than you think (especially when you take bonus points into consideration). The AmEx card Scott listed has no limit, which is nice. I'm not sold on the tiered structure though, but I should do the math to figure it out just in case... CW if you charge as much as you claim - the 1.5% will quickly swamp any tiered structure. Just use the calculator I linked to. Link to comment Share on other sites More sharing options...
DieHardFan Posted January 1, 2007 Share Posted January 1, 2007 Discover Card has a deal that comes by every so often that gives you 0% interest for life. No purchases are necessary for a year and then 2 -3 monthly after. Paid off an $11K loan and put the money in a CD for the year. Still TBD if there areany major gotchas when the year is up (besides first in; first paid). Have to diligent though. They have a minimum payment with autopay from a checking account but you need to set it every month. Link to comment Share on other sites More sharing options...
aussiew Posted January 1, 2007 Share Posted January 1, 2007 I have a couple of older items (daughter's weddings, ex husband, parents funeral trips etc) that I have sitting in a chase card at 3.99% for life. Pay more than the minimum but it will be a while. The 3.99 interest stays as long as I'm never, ever late with a payment. Then, I have a couple of "reward" cards that I pay in full every month. I also put work expenses and all my daily purchases on them. Hardly ever use cash or a debit card any more (no points). I use the accumulated points to convert to flights for Bills games. One of those "Bills logo" cards is a reward card. Link to comment Share on other sites More sharing options...
SDS Posted January 1, 2007 Author Share Posted January 1, 2007 One of those "Bills logo" cards is a reward card. the point is to re-evaluate whether you are getting the best reward for your choice. There may be something better! Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted January 1, 2007 Share Posted January 1, 2007 SDS... Are those Rock 'em Sock 'em Robots in your avatar? Quite cool! Link to comment Share on other sites More sharing options...
Bob Lamb Posted January 1, 2007 Share Posted January 1, 2007 American Express / Costco Combo 1% on anything (including gas at Costco - usually 5-7 cents cheaper than the street) 2% on travel / hotels 3% on dining out Adds up nicely and also paid at the end of the year - should be about $320 for 2006 Link to comment Share on other sites More sharing options...
cåblelady Posted January 1, 2007 Share Posted January 1, 2007 moths Link to comment Share on other sites More sharing options...
GoodBye Posted January 2, 2007 Share Posted January 2, 2007 This discussion is for those who pay off their credit cards each month... Guess I can't be part of this discussion. Link to comment Share on other sites More sharing options...
Ramius Posted January 2, 2007 Share Posted January 2, 2007 got 3 cards... 1. amazon card like FEz's, that i get $25 gift certificates 2. Bills rewards card i use once in a while, but it gets me free nfl stuff 3. mastercard which was my first CC. it has no rewards but i keep it active with a purchase every few months only because i have built a good credit line on it. Link to comment Share on other sites More sharing options...
Tux of Borg Posted January 2, 2007 Share Posted January 2, 2007 I have a chase rewards card for emergencies. I use my Visa check card for daily purchases. Link to comment Share on other sites More sharing options...
Fezmid Posted January 2, 2007 Share Posted January 2, 2007 3. mastercard which was my first CC. it has no rewards but i keep it active with a purchase every few months only because i have built a good credit line on it. You actually don't build your credit like that --- having the line of credit open helps your rating, but using it does not (doesn't hurt either, but won't increase it any). http://www.myfico.com/CreditEducation/WhatsInYourScore.aspx EDIT: I thought you meant credit score, not limit. Regardless, the company won't lower your limit if you don't use it, so there's really no reason to use it, other than keeping for an emergency. CW Link to comment Share on other sites More sharing options...
Fezmid Posted January 2, 2007 Share Posted January 2, 2007 I have a chase rewards card for emergencies. I use my Visa check card for daily purchases. Why wouldn't you get paid to borrow the bank's money, instead of risking your own with a debit card? (using a debit card is DANGEROUS because it links directly to your checking account - someone takes your debit card and cleans you out at the same time your mortage payment is trying to process, for example, and you'll get a ding on your credit history for insufficient funds in your bank and missing a mortgage payment). There's no reason to use a debit card, other than to help the bank out. http://clarkhoward.com/shownotes/category/7/40/225/ CW Link to comment Share on other sites More sharing options...
Hammered a Lot Posted January 2, 2007 Share Posted January 2, 2007 We do pay off all credit cards every month. While it's probably not the best return out there, we use Citibank Aadvantage cards to get American Airlines miles. We get enough to fly our family of 4 plus a couple of invited guests (read: babysitters) to Hawaii every 4th year. I Love Baby Sitting...... Link to comment Share on other sites More sharing options...
JÂy RÛßeÒ Posted January 2, 2007 Share Posted January 2, 2007 I Love Baby Sitting...... Cool - We've got an opening next Friday... Link to comment Share on other sites More sharing options...
JoeFerguson Posted January 2, 2007 Share Posted January 2, 2007 My two main cards: CitiBank Dividend MasterCard - 5% cashback on gas, groceries, and drugstore purchases, 1% cashback on all other purchases. I believe the limit is $300 back a year. Discover Card: 1% cashback on all purchases, and then a rotating 5% cashback promotional offer. This month the 5% promotion is on travel expenses (airlines, car rentals, greyhound, amtrak). Recently I had stopped using my Discover card completely for several months. They called me and told me that I would get $1 back for every purchase in the next month up to $20. Nothing more satisfying than getting $1 back on a $2 purchase. I also have the AMEX BlueCash, but I stopped using it because I don't spend more than the $6500 required to get the higher rate of cashback. In addition, I have the Amazon Visa, but I really only signed up for it to get the initial $30 discount on a purchase. I don't like the idea of being paid in gift certificates, especially when I don't really buy stuff on Amazon. Link to comment Share on other sites More sharing options...
SDS Posted January 2, 2007 Author Share Posted January 2, 2007 My two main cards: CitiBank Dividend MasterCard - 5% cashback on gas, groceries, and drugstore purchases, 1% cashback on all other purchases. I believe the limit is $300 back a year. Discover Card: 1% cashback on all purchases, and then a rotating 5% cashback promotional offer. This month the 5% promotion is on travel expenses (airlines, car rentals, greyhound, amtrak). Recently I had stopped using my Discover card completely for several months. They called me and told me that I would get $1 back for every purchase in the next month up to $20. Nothing more satisfying than getting $1 back on a $2 purchase. I also have the AMEX BlueCash, but I stopped using it because I don't spend more than the $6500 required to get the higher rate of cashback. In addition, I have the Amazon Visa, but I really only signed up for it to get the initial $30 discount on a purchase. I don't like the idea of being paid in gift certificates, especially when I don't really buy stuff on Amazon. "I believe the limit is $300 back a year." That's what kills that card for most people. I wouldn't mind picking up a Discover during one of those 0% interest for life deals. I'd be happy to dump a car loan on that. Link to comment Share on other sites More sharing options...
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