Credit card reward programs

[andrew whicker]

Hi all,

I'm looking into switching from chase freedom credit card to a card that provides other benefits. Right now I get 1% back on everything plus 5% back on selected stuff every quarter.

I'm also thinking about getting a CC for my small side business.

What do you use for personal and business? Which ones do you like?

Thanks and cheers!

[Jim Becker]

What you need to do is figure out what categories of purchases would benefit you the most with increased rewards based on your spending patterns. It would be very difficult for any one of us to just say "get this card and you'll be happy" because our tendencies might be very different than yours.

What works for me the best is the combination of AMEX Gold Rewards (I've been a card holder since the early 1980s and they have been good to me), AMEX Blue and the Amazon card via Chase. I only use the AMEX Blue when there's a chance I may need to spread over two months, but my normal practice is everything is paid off every month and no balances are carried. I did just get a business card, but I didn't consider "rewards" on that since I wanted that card to be issued by the same bank as my business checking account. It just so happens it does have rewards, but most of what I'll use it for will only get 1%. My primary need for the business card is for "float" and convenience to buy materials without setting up accounts with various suppliers. Since my credit score couldn't be any higher...literally...that was an easy way to go and keeps everything on one, easy to pay account.

[John K Jordan]

I almost could have written what Jim wrote except our cards are for personal and farm use. I mostly use an AMEX card primarily for frequent flyer miles (and nearly unlimited credit limit) and a VISA for miles on a different airline and for the few places that don't take AMEX. We use the miles for international travel every year, some domestic travel, and occasionally for tickets for friends in need. I knew one guy who paid his mortgage payment every month to build up FF miles. Cards for miles might not be attractive to someone who didn't travel much. I've never had a cash-back card.

We also pay all of the current statement every single month for all cards - it's astounding what that will do for your credit score, that and never paying a single day late even once. The card interest rates are so high I cannot imaging carrying a balance, regardless of the rewards. For those who always carry balances just do the math. Then the tough fix: switch to debit cards.

Just a personal thing, but after aggressive marketing by Chase (even when asked to stop) I'm not interested in any of their cards, regardless of what they offer.

JKJ

What you need to do is figure out what categories of purchases would benefit you the most with increased rewards based on your spending patterns. It would be very difficult for any one of us to just say "get this card and you'll be happy" because our tendencies might be very different than yours.

What works for me the best is the combination of AMEX Gold Rewards (I've been a card holder since the early 1980s and they have been good to me), AMEX Blue and the Amazon card via Chase. I only use the AMEX Blue when there's a chance I may need to spread over two months, but my normal practice is everything is paid off every month and no balances are carried. I did just get a business card, but I didn't consider "rewards" on that since I wanted that card to be issued by the same bank as my business checking account. It just so happens it does have rewards, but most of what I'll use it for will only get 1%. My primary need for the business card is for "float" and convenience to buy materials without setting up accounts with various suppliers. Since my credit score couldn't be any higher...literally...that was an easy way to go and keeps everything on one, easy to pay account.

[Steve Jenkins]

I use a capital one card because of the mileage. Any airline no blackouts. I visit my brother up north of Seattle every year and it pays for the ticket

[Mike Henderson]

I use a chase Sapphire card because it provides up to $20,000 in trip insurance. So as long as you charge the travel expenses on your card you're covered in case of an event that causes you to cancel the trip. There are a list of legitimate reasons for cancellation but they're not unreasonable.

If you do much traveling, this is a valuable benefit because trip insurance is expensive.

There are two cards, the Chase Sapphire Preferred which is $95/year and the Chase Sapphire Reserve which offers more benefits but is more expensive.

Mike

[Mark Bolton]

If you dont want to have to manage your cards, opt in quarterly, use this card for this, that card for that, Citi is the best all around card at the moment and has been for a couple years. Whats great about the citi card is you dont have to keep a balance. If you go into your phone app and move 2 grand onto the card, its there immediately. There is no waiting for your payment to process, no waiting for the payment to "post" (while the card carrier makes their day or two worth of interest).

Their rewards program has no hoops.

If you want to hustle a half a dozen different cards, or travel and travel incentives are your game, whatever, other cards or multiple cards and a second full time job shuffling and tracking will be better. But for an all around daily use card, Citi is hard to beat for us.

[Matt Day]

About 2 years ago I switched from a Chase Freedom to a Citi Double Cash. Doubled my cash back since the 5% categories from Chase amounted to very little.

[Carlos Alvarez]

I've been an Amex fan for decades, to the exclusion of all other cards. But recently I've migrated a bunch of purchasing to a Chase Sapphire Preferred which has a few better benefits, and a little to discover. The first year with Discover IT offers a double-back points reward, and they have certain things like groceries with extra points. So basically on some things it ends up being about 6% or maybe more.

Also, I use the eBates browser plugin, which gives some kickbacks on certain sites, like Lowe's, Best Buy, and many more. https://www.ebates.com/r/CAALVA9?eei...edium=raf_link

Oh yeah, the Lowe's card gives a minimum of 5% off everything, sometimes 10. Or the option to do same-as-cash for 6/12/18 months depending on the dollar amount.

And if anyone is going to sign up for cards based on recommendations here, there are probably referral codes on most cards that you can exchange in order to get additional rewards for both people. Like I gave a friend a code a while back for an Amex gold, and we both got a 10k point bonus.

[Bill Dufour]

I did not think you could pay your mortgage with a credit card? I know AAA if you use a credit card they charge like the 2% extra fee to cover their loss.
Bil lD.

[Jim Becker]

I know AAA if you use a credit card they charge like the 2% extra fee to cover their loss.
Bil lD.

AAA sure doesn't charge me extra for using my CC for my memberships or multiple insurance companies...and I use AMEX for those payments. AMEX's merchant fee is slightly higher than others, too.

[Bill Carey]

I use a chase Sapphire card because it provides up to $20,000 in trip insurance.Mike

Same for me - lots of flights and travel in the past. About 800 flights. But I made my last flight (to Denmark and back) a month ago. Never getting on a plane again. So I'm looking to switch cards maybe. I'll be following this thread with interest (19% ).. And I too pay it off every month.

[Rich Engelhardt]

Lowes has a nice deal going with Amex.
They give you a 5% discount on anything - even sale prices - when you use the card. Plus you get reward points.

The rest we just use whatever has the best rewards going for it. There's really a bunch to choose from.

[Carlos Alvarez]

Lowes has a nice deal going with Amex.
They give you a 5% discount on anything - even sale prices - when you use the card. Plus you get reward points.

The rest we just use whatever has the best rewards going for it. There's really a bunch to choose from.

Those are targeted offers, not everyone gets them.

[Wade Lippman]

I have one through Fidelity. 2% cash back and no annual fee. Presumably you have to have an investment account with them.

Last year I got a Delta Amex card; the bonus paid for our airfair to Costa Rica (well all of mine and half of my wife's). But Amex isn't widely accepted enough to bother with.

[Wade Lippman]

Lowes has a nice deal going with Amex.
They give you a 5% discount on anything - even sale prices - when you use the card. Plus you get reward points.

I buy everything at Lowes with gift cards I get for 10% off with a CC that gives 2% back; so I am getting a 12% discount. (I also use 10% discount coupons, so I effectively get 21% off. A lot of work, but I enjoy the challenge. Oh, and AA gives me 2 miles/$ for tying into their mileage program, so that takes it to 23% off.)