Best CC for (new) purchases
Best CC for (new) purchases
Hi all,
I am buying furniture and home theater in the next month costing around $20,000. I currently have BOA 1-2-3 card which pays 1% back on purchases. What new CC should I get to get better cash back and/or discount?
Thanks
I am buying furniture and home theater in the next month costing around $20,000. I currently have BOA 1-2-3 card which pays 1% back on purchases. What new CC should I get to get better cash back and/or discount?
Thanks
Re: Best CC for (new) purchases
I use Capital One reward card first year free, then $59 per year
but 2% return on everything (caveat, must be used on travel expenses)
but 2% return on everything (caveat, must be used on travel expenses)
Re: Best CC for (new) purchases
If possible, do not settle for 1% cashback or for cards requiring annual fees.
https://www.fidelity.com/cash-managemen ... ress-cards
I use the rewards card above that gives 2% flat for everything, all year round, no questions, no limits, no minimums.
https://www.fidelity.com/cash-managemen ... ress-cards
I use the rewards card above that gives 2% flat for everything, all year round, no questions, no limits, no minimums.
Last edited by bh_tikli on Mon Dec 05, 2022 1:19 am, edited 1 time in total.
Re: Best CC for (new) purchases
The BOA card has no annual fees. But 2% is better than 1%! Is there anything better than 2%?ashutosh wrote:If possible, do not settle for 1% cashback or for cards requiring annual fees.
https://www.fidelity.com/cash-managemen ... ress-cards
I use the rewards card above that gives 2% flat for everything, all year round, no questions, no limits, no minimums.
regards,
Ashutosh
-
- Posts: 2212
- Joined: Tue May 21, 2013 8:49 pm
Re: Best CC for (new) purchases
You might want to consult this list. The fidelity card is a good bet:
http://www.fatwallet.com/forums/finance/711457/
(For furniture, keep in mind that the good stuff lasts "forever". But if you're willing to buy preowned, you can often get it for 80-90% off at Craig's list.)
http://www.fatwallet.com/forums/finance/711457/
(For furniture, keep in mind that the good stuff lasts "forever". But if you're willing to buy preowned, you can often get it for 80-90% off at Craig's list.)
Re: Best CC for (new) purchases
http://www.nerdwallet.com/ does a good job of comparing cards,
especially if you already know your spending breakdown (dining, travel, grocery, gas, office supply, etc).
Personally I avoid "points" of all sort, as they are a fiat currency subject to devaluation. Things like 'no hassle' miles turn out to be a hassle.
I carry a no annual fee 1.5% cash back card. But for Amazon purchases the 3% on the Amazon card can't be beat, and I have one of those also.
especially if you already know your spending breakdown (dining, travel, grocery, gas, office supply, etc).
Personally I avoid "points" of all sort, as they are a fiat currency subject to devaluation. Things like 'no hassle' miles turn out to be a hassle.
I carry a no annual fee 1.5% cash back card. But for Amazon purchases the 3% on the Amazon card can't be beat, and I have one of those also.
Re: Best CC for (new) purchases
I use the fidelity Am Ex for purchases like these. 2% cashback on every purchase.
Re: Best CC for (new) purchases
If you're spending that much, you might consider getting a card with bonuses for spending instead. There was an offer by the Citi American Airlines card a while back offering 100,000 miles with if you spent $10,000 over three months, for instance. You could shop the bonuses, depending on how willing you are to keep the card after the first year. Some have annual fees, and some don't.
- slow n steady
- Posts: 388
- Joined: Mon Jan 24, 2011 1:54 pm
Re: Best CC for (new) purchases
If you really want to get in the game, sign up for several cards (and have your wife sign up for all of the same cards) and get the bonus's. Get rid of the card before the 1 year mark and you won't pay any fees for these cards.
Starwood Preferred Guest by Amex:
http://www262.americanexpress.com/landi ... =BSPGLTO14
Chase Sapphire Preferred:
https://applynow.chase.com/FlexAppWeb/r ... 0002111/na
Chase Freedom Card:
https://applynow.chase.com/FlexAppWeb/r ... 0002199/na
Capital One Venture Card:
https://www.capitalone.com/credit-cards ... F523596703
You can get $2500 from these bonus's (if you get one each for you and your wife), but it does take a little bit of work. If you use the points to travel and stay at hotels, you can get much more than $2500 worth from these cards.
Starwood Preferred Guest by Amex:
http://www262.americanexpress.com/landi ... =BSPGLTO14
Chase Sapphire Preferred:
https://applynow.chase.com/FlexAppWeb/r ... 0002111/na
Chase Freedom Card:
https://applynow.chase.com/FlexAppWeb/r ... 0002199/na
Capital One Venture Card:
https://www.capitalone.com/credit-cards ... F523596703
You can get $2500 from these bonus's (if you get one each for you and your wife), but it does take a little bit of work. If you use the points to travel and stay at hotels, you can get much more than $2500 worth from these cards.
Re: Best CC for (new) purchases
+1Rob5TCP wrote:I use Capital One reward card first year free, then $59 per year
but 2% return on everything (caveat, must be used on travel expenses)
Capital One Venture card is my primary. The $59 fee is nothing compared to the $2K in annual cashback. The Fido Amex pays 2% but is not accepted everywhere like Visa.
- Cut-Throat
- Posts: 2011
- Joined: Sun Oct 17, 2010 9:46 am
Re: Best CC for (new) purchases
I get very tired of Retailers telling me "We don't take American Express"..... Never have that problem with Visa.ashutosh wrote:If possible, do not settle for 1% cashback or for cards requiring annual fees.
https://www.fidelity.com/cash-managemen ... ress-cards
I use the rewards card above that gives 2% flat for everything, all year round, no questions, no limits, no minimums.
regards,
Ashutosh
It's just not worth the hassle.
Re: Best CC for (new) purchases
I just haven't experienced that (Amex is taken everywhere around here in SF Bay Area pretty much), but the Fidelity Visa @ 1.5% for first ~15K followed by 2% thereafter is quite good.Cut-Throat wrote:
I get very tired of Retailers telling me "We don't take American Express"..... Never have that problem with Visa.
It's just not worth the hassle.
- TheTimeLord
- Posts: 12130
- Joined: Fri Jul 26, 2013 2:05 pm
Re: Best CC for (new) purchases
Fidelity AmEx. No Fee 2% cash back on all purchases deposited in your taxable Fidelity account.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. |
Run, You Clever Boy! [9085]
- TheTimeLord
- Posts: 12130
- Joined: Fri Jul 26, 2013 2:05 pm
Re: Best CC for (new) purchases
The only retailer I do business with that doesn't take AmEx is my doctor. But I carry both Fidelity AmEx and Visa.Cut-Throat wrote:I get very tired of Retailers telling me "We don't take American Express"..... Never have that problem with Visa.ashutosh wrote:If possible, do not settle for 1% cashback or for cards requiring annual fees.
https://www.fidelity.com/cash-managemen ... ress-cards
I use the rewards card above that gives 2% flat for everything, all year round, no questions, no limits, no minimums.
regards,
Ashutosh
It's just not worth the hassle.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. |
Run, You Clever Boy! [9085]
Re: Best CC for (new) purchases
I use an Amex as my primary card, and I rarely encounter this. Almost everyone including the small food trucks and small businesses take American Express. In the very rare instance where Amex is not accepted, I carry a Mastercard as a backup.Cut-Throat wrote: I get very tired of Retailers telling me "We don't take American Express"..... Never have that problem with Visa.
It's just not worth the hassle.
- TheTimeLord
- Posts: 12130
- Joined: Fri Jul 26, 2013 2:05 pm
Re: Best CC for (new) purchases
You charge $100,000 a year to your credit card? My guess is most don't.dickenjb wrote:+1Rob5TCP wrote:I use Capital One reward card first year free, then $59 per year
but 2% return on everything (caveat, must be used on travel expenses)
Capital One Venture card is my primary. The $59 fee is nothing compared to the $2K in annual cashback. The Fido Amex pays 2% but is not accepted everywhere like Visa.
IMHO, Investing should be about living the life you want, not avoiding the life you fear. |
Run, You Clever Boy! [9085]
-
- Posts: 640
- Joined: Thu Jan 06, 2011 10:36 pm
Re: Best CC for (new) purchases
There are 4 cards that (sort of) give a flat around 2% cash back.
The Fidelity Visa gives 1.5% cash back on the first $15,000 in purchases per year, then 2% after that. No annual fee. Requires opening a free Fidelty Cash Management account.
https://www.applyonlinenow.com/USCCapp/ ... c=VABYFH#b
The Fidelity American Express gives a flat 2% cash back on everything. No annual fee. Requires opening a free Fidelty Cash Management account. There is currently a $50 sign up promotion.
https://www.applyonlinenow.com/USCCapp/ ... c=VAB2RZ#b
The Capital One card mention above gives 2 points per $1 spent, which is 2% if you redeem the points towards travel. $59 annual fee I think. There is currently a sign up promotion giving 40,000 points when you open a new account (worth $400 towards travel).
http://www.capitalone.com/credit-cards/venture-rewards/
The Barclays Arrival gives 2 points per $1 spent, and if redeemed for travel you end up getting about 2.2% cash back. $89 annual fee. There is currently a sign u promotion giving 40,000 points when you open a new account (worth $400 towards travel).
http://www.barclaycardarrival.com/
For a large amount of general spending these are going to be your best options. If they take AMEX everywhere you go then you can't go wrong with the Fidelty AMEX. But the cards that have a sign up bonus make it tempting. I have all 4 of these cards so let me know if you have any specific questions.
The Fidelity Visa gives 1.5% cash back on the first $15,000 in purchases per year, then 2% after that. No annual fee. Requires opening a free Fidelty Cash Management account.
https://www.applyonlinenow.com/USCCapp/ ... c=VABYFH#b
The Fidelity American Express gives a flat 2% cash back on everything. No annual fee. Requires opening a free Fidelty Cash Management account. There is currently a $50 sign up promotion.
https://www.applyonlinenow.com/USCCapp/ ... c=VAB2RZ#b
The Capital One card mention above gives 2 points per $1 spent, which is 2% if you redeem the points towards travel. $59 annual fee I think. There is currently a sign up promotion giving 40,000 points when you open a new account (worth $400 towards travel).
http://www.capitalone.com/credit-cards/venture-rewards/
The Barclays Arrival gives 2 points per $1 spent, and if redeemed for travel you end up getting about 2.2% cash back. $89 annual fee. There is currently a sign u promotion giving 40,000 points when you open a new account (worth $400 towards travel).
http://www.barclaycardarrival.com/
For a large amount of general spending these are going to be your best options. If they take AMEX everywhere you go then you can't go wrong with the Fidelty AMEX. But the cards that have a sign up bonus make it tempting. I have all 4 of these cards so let me know if you have any specific questions.
Re: Best CC for (new) purchases
I got Barclays Arrival several months ago and have already qualified for their one-time reward. During the first year I don't have any fees, but in a few months I will. If I don't want to pay annual fees, what is the best way to dispose of the card?jimmyrules712 wrote:The Barclays Arrival gives 2 points per $1 spent, and if redeemed for travel you end up getting about 2.2% cash back. $89 annual fee. There is currently a sign u promotion giving 40,000 points when you open a new account (worth $400 towards travel).
http://www.barclaycardarrival.com/
- Is there any advantage to close it now?
- Is there an advantage to hold it for a year, until the free period expires?
I am just starting playing the credit card game and want to avoid inadvertent slips.
Victoria
Inventor of the Bogleheads Secret Handshake |
Winner of the 2015 Boglehead Contest. |
Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
-
- Posts: 98
- Joined: Sat Jan 04, 2014 4:13 pm
- Location: Boston, MA
Re: Best CC for (new) purchases
The Chase Freedom Visa gives 1% cash back on everything with no annual fee. For one quarter every year, it also gives 5% cash back on gasoline purchases.
Re: Best CC for (new) purchases
BofA gives an additional 50% of cash back if you deposit it back to BofA account. So the 1% is 1.5%, etc.
Re: Best CC for (new) purchases
Closing it now probably won't have a very large effect on your credit score. Waiting a few months probably won't make a big difference, either. FWIW I have opened 7 new cards in the last 6 months but my credit score only dropped about 10 points per the Barclays Arrival FICO score reporting.VictoriaF wrote:I got Barclays Arrival several months ago and have already qualified for their one-time reward. During the first year I don't have any fees, but in a few months I will. If I don't want to pay annual fees, what is the best way to dispose of the card?
- Is there any advantage to close it now?
- Is there an advantage to hold it for a year, until the free period expires?
I am just starting playing the credit card game and want to avoid inadvertent slips.
I also have about 6 months left in my first year with the Arrival Plus card. I haven't decided yet whether I will cancel and hope that I can reapply for the bonus again in the future, or call Barclays to see if they will shift the line of credit over to the no annual fee vanilla Arrival card just to keep the account open on my credit report.
I haven't done much research yet into whether it's possible to get the bonus again with the Arrival Plus. Sometimes card issuers say it isn't allowed, but if you wait 2 years you can get the bonus again, e.g. Chase Southwest cards.
-
- Posts: 70
- Joined: Tue May 06, 2014 11:59 pm
Re: Best CC for (new) purchases
Maybe I'm missing something, but assuming you have the money to pay for the items (i.e., you don't intend to carry a credit card balance), you can generally get much better than a 1% or 2% discount by paying with cash--especially if you're making large purchases.
-
- Posts: 640
- Joined: Thu Jan 06, 2011 10:36 pm
Re: Best CC for (new) purchases
No advantage to closing now. Barclays frowns upon people who open accounts for bonuses and then immediately closes them. You'll improve your odds of getting another Barclays card if you keep this one open as long as possible. Is keep it for the one free year, then close it if you don't want to use it.VictoriaF wrote:I got Barclays Arrival several months ago and have already qualified for their one-time reward. During the first year I don't have any fees, but in a few months I will. If I don't want to pay annual fees, what is the best way to dispose of the card?jimmyrules712 wrote:The Barclays Arrival gives 2 points per $1 spent, and if redeemed for travel you end up getting about 2.2% cash back. $89 annual fee. There is currently a sign u promotion giving 40,000 points when you open a new account (worth $400 towards travel).
http://www.barclaycardarrival.com/
- Is there any advantage to close it now?
- Is there an advantage to hold it for a year, until the free period expires?
I am just starting playing the credit card game and want to avoid inadvertent slips.
Victoria
-
- Posts: 640
- Joined: Thu Jan 06, 2011 10:36 pm
Re: Best CC for (new) purchases
Large purchaeses, maybe, but large purchases often don't allow a cc anyway. Most small to average purchases do not give a cash discount. Ever tried negotiating a cash discount at your local Exxon for gas? What about at chillis for dinner? What about the last plane ticket or hotel room? Only mom and pop places can normally give a special cash discount. 99% of my purchases would never give me that option.OldLearner wrote:Maybe I'm missing something, but assuming you have the money to pay for the items (i.e., you don't intend to carry a credit card balance), you can generally get much better than a 1% or 2% discount by paying with cash--especially if you're making large purchases.
I work for a large company that loves it when people pay with cash because we charge them the same price as everyone else but we get to keep the money saved on the cc fees. Don't be one of those people.
Re: Best CC for (new) purchases
The Sallie Mae Visa gives 5% back on up to $750/month of Amazon purchases (because Amazon falls under "books"). The card also gives 5% back on groceries/gas, up to $250 worth of purchases each/month.bnes wrote:http://www.nerdwallet.com/ does a good job of comparing cards,
especially if you already know your spending breakdown (dining, travel, grocery, gas, office supply, etc).
Personally I avoid "points" of all sort, as they are a fiat currency subject to devaluation. Things like 'no hassle' miles turn out to be a hassle.
I carry a no annual fee 1.5% cash back card. But for Amazon purchases the 3% on the Amazon card can't be beat, and I have one of those also.
Re: Best CC for (new) purchases
I have the Priceline Rewards Visa which gives 2% back on everything, no limits (but must redeem $25 minimum as statement credit). Alas, for new applicants the reward is only 1%.Cut-Throat wrote:I get very tired of Retailers telling me "We don't take American Express"..... Never have that problem with Visa.ashutosh wrote:If possible, do not settle for 1% cashback or for cards requiring annual fees.
https://www.fidelity.com/cash-managemen ... ress-cards
I use the rewards card above that gives 2% flat for everything, all year round, no questions, no limits, no minimums.
regards,
Ashutosh
It's just not worth the hassle.
Re: Best CC for (new) purchases
The CC signup bonus game is different. Depending on the card, you can get a bonus worth 10-30% of the spending on the card.OldLearner wrote:Maybe I'm missing something, but assuming you have the money to pay for the items (i.e., you don't intend to carry a credit card balance), you can generally get much better than a 1% or 2% discount by paying with cash--especially if you're making large purchases.
The card being discussed, the Barclaycard Arrival Plus, gives 40k "miles" after spending $3k. You can redeem them against travel expenditures, and when you do so, you get 10% of the points rebated. In the end, you get 46k points worth $460, then another $46, about $500 total, a return of about 17%. When I applied for the card earlier this year, the spending requirement for the bonus was only $1k, making the return a ridiculous 46%.
The most regularly available examples are probably the Chase Southwest cards (Premier and Plus). Spend $4k between the two cards and you can get two 50k mile signup bonuses (when they are offered). Southwest miles can be redeemed on any flight and 70 miles = $1. 104k miles = $1486 in airfare, minus $168 in card fees, for a total of a total of $1318. For someone who can fly on Southwest, that is a return of 33%.
Spend an additional $6k in one calendar year and you can qualify for the Southwest Companion Pass. This lets someone fly with you for free. That makes the return 28% by doubling the value of the miles on $10k in spending, since now 2 people can fly on the miles. You can push it higher if you and your companion fly more frequently than that minimum amount.
These examples assume optimal usage of the cards, but you start to get the point. People with good credit who are willing to put in a modest amount of time and research can leverage their credit scores for some substantial rewards.
Re: Best CC for (new) purchases
Capital One 1.5% back on everything, no limits. The problem with rewards cards, especially with categories, is that it encourages spending on things you might not ordinarily spend so much money on. For instance, Discover gave 5% back on all online purchases in the 4th quarter last year, so I found myself spending more online, which negated any cash back bonus. The same goes for cards that give an Amazon cash back, or the Target card--I find myself spending much more than I normally would at those places just to get the cash back. My attempts to rotate through multiple cards for different bonuses backfired when I mistakenly missed a few payment deadlines, so the late penalty negated all the cash back I saved. It's the same principle of using mutual funds versus ETFS, to protect yourself from easy buying and selling, where impulse overcomes the slight cost savings you might yield.
The other benefits of the Capital One card are being able to actually get cash or a statement credit, without any devalued point system or push to buy gift cards or goods, and it fits nicely with the Capital One 360 savings account of .75%, so I can check both on the iphone app.
BTW, the Citi Forward card seems to beat the Amazon card, with 5 points back on bookstores (including Amazon), and the points can be redeemed directly for Amazon purchases.
The other benefits of the Capital One card are being able to actually get cash or a statement credit, without any devalued point system or push to buy gift cards or goods, and it fits nicely with the Capital One 360 savings account of .75%, so I can check both on the iphone app.
BTW, the Citi Forward card seems to beat the Amazon card, with 5 points back on bookstores (including Amazon), and the points can be redeemed directly for Amazon purchases.
Re: Best CC for (new) purchases
I agree with your logic. Most people claim that they are not influenced by rewards, TV commercials, coupons, and other discounts--and most people delude themselves. Credit card rewards do promote some overspending; this overspending varies in the degree but not in kind. And the complexity is both time consuming and risky; risky in missing deadlines and difficulties in reconciling bills.rj49 wrote:The problem with rewards cards, especially with categories, is that it encourages spending on things you might not ordinarily spend so much money on. For instance, Discover gave 5% back on all online purchases in the 4th quarter last year, so I found myself spending more online, which negated any cash back bonus. The same goes for cards that give an Amazon cash back, or the Target card--I find myself spending much more than I normally would at those places just to get the cash back. My attempts to rotate through multiple cards for different bonuses backfired when I mistakenly missed a few payment deadlines, so the late penalty negated all the cash back I saved. It's the same principle of using mutual funds versus ETFS, to protect yourself from easy buying and selling, where impulse overcomes the slight cost savings you might yield.
Still, I decided to enter the credit card game, because right now is a good time for that. I will be employed for 2 more months with income qualifying me for new cards. After that, I will have more time to read Frequent Flier Talk and make sense of my cards, while hopefully avoiding mistakes.
Victoria
Inventor of the Bogleheads Secret Handshake |
Winner of the 2015 Boglehead Contest. |
Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
-
- Posts: 98
- Joined: Sat Jan 04, 2014 4:13 pm
- Location: Boston, MA
Re: Sallie Mae Visa 5% cash back
Can the cash back be used to pay anything other than student loan? Any catches?jasonp99 wrote:
The Sallie Mae Visa gives 5% back on up to $750/month of Amazon purchases (because Amazon falls under "books"). The card also gives 5% back on groceries/gas, up to $250 worth of purchases each/month.
Re: Sallie Mae Visa 5% cash back
Sure. I don't have any student loans. I just take it as a statement credit. No catches. Unlike Discover, you have good traceability between the credits and purchases.gabriel1970 wrote:Can the cash back be used to pay anything other than student loan? Any catches?jasonp99 wrote:
The Sallie Mae Visa gives 5% back on up to $750/month of Amazon purchases (because Amazon falls under "books"). The card also gives 5% back on groceries/gas, up to $250 worth of purchases each/month.
Re: Sallie Mae Visa 5% cash back
I actually have this card as well. It is 1% back on everything without a limit in addition to the 5% categories above. Here is the rewards information copied and pasted:munemaker wrote:Sure. I don't have any student loans. I just take it as a statement credit. No catches. Unlike Discover, you have good traceability between the credits and purchases.gabriel1970 wrote:Can the cash back be used to pay anything other than student loan? Any catches?jasonp99 wrote:
The Sallie Mae Visa gives 5% back on up to $750/month of Amazon purchases (because Amazon falls under "books"). The card also gives 5% back on groceries/gas, up to $250 worth of purchases each/month.
As munemaker said, it shows you the rewards per purchase as soon as it is posted. Additionally you don't have to wait for the next statement in order to redeem them.Use your card for all your purchases and redeem points for exceptional rewards like:
$25 credit towards your Sallie Mae student loan:
2,500 Reward Points
$25 deposited into your Upromise account:
2,500Reward Points
$25 cash back statement credit:
2,500Reward Points
Rewards details
Earn 5 Reward Points per $1 on first $750 monthly book purchases
Earn 5 Reward Points per $1 on first $250 monthly grocery purchases
Earn 5 Reward Points per $1 on first $250 monthly gas purchases
I also have a Chase Freedom and it looks like my chase account has become much more clear on this as well, but you still have to wait for the statement before you can redeem cash.
As another interesting note on the Sallie Mae card, I wonder if they are looking into rotating rewards, because I recently got a mailer where I was able to sign up for a bonus rewards program. It had a unique number to sign up, so I am not sure if everyone was eligible. The bonus is an additional 2% back on grocery store, drugstore, and electronics store purchases between July 1 and September 30. The deadline to activate is today.
Last edited by knappster on Sun Jul 20, 2014 9:48 am, edited 1 time in total.
Re: Best CC for (new) purchases
If I were you, I would google for credit card introductory offers. Many credit cards offer larger bonuses if you charge $XX within the first few months. Take out a few of these and you will do a lot better than 2%.Mrxyz wrote:Hi all,
I am buying furniture and home theater in the next month costing around $20,000. I currently have BOA 1-2-3 card which pays 1% back on purchases. What new CC should I get to get better cash back and/or discount?
Thanks
-
- Posts: 8421
- Joined: Tue Aug 06, 2013 12:43 pm
Re: Best CC for (new) purchases
I'm sure it's particular to the individual but this certainly not true for me as my typical purchases are at supermarkets/drugstores/gas stations and bill pay for cable or phone none of which give any discounts for cash.OldLearner wrote:Maybe I'm missing something, but assuming you have the money to pay for the items (i.e., you don't intend to carry a credit card balance), you can generally get much better than a 1% or 2% discount by paying with cash--especially if you're making large purchases.
Re: Best CC for (new) purchases
The solution to this is to set up automatic payments on your cards from your checking account. You can set an automatic payment of the minimum so that you won't overdraw your account if you forget the payment and don't have enough in your checking account; if you remember the card, you can pay in full by check. I have an automatic payment in full, with a reminder in Quicken so that I know to transfer the necessary amount from savings to checking.rj49 wrote:My attempts to rotate through multiple cards for different bonuses backfired when I mistakenly missed a few payment deadlines, so the late penalty negated all the cash back I saved.
-
- Posts: 3908
- Joined: Fri Jan 17, 2014 9:19 am
Re: Best CC for (new) purchases
Last time I bought my Lexus RX350 and wanted to pay it with credit cards to get some rewards, but the dealer did not accept the credit cards.
Re: Best CC for (new) purchases
I do find this to be true .05% of the time.dickenjb wrote:+1Rob5TCP wrote:I use Capital One reward card first year free, then $59 per year
but 2% return on everything (caveat, must be used on travel expenses)
Capital One Venture card is my primary. The $59 fee is nothing compared to the $2K in annual cashback. The Fido Amex pays 2% but is not accepted everywhere like Visa.
Re: Best CC for (new) purchases
I am still grandfathered on the 2% Priceline Visa with no annual fee. I also have the 2% Fidelity Amex. Amex is accept at more places than you think. Some places don't even know that they accept Amex you just have to try.
I also have the grandfathered 5% Citi Forward on Amazon and Dining, 5% PenFed Gas, and 6% (on the first $6k then 1%) Amex Blue Cash Preferred grocery, only one with annual fee ($75)
I also have the grandfathered 5% Citi Forward on Amazon and Dining, 5% PenFed Gas, and 6% (on the first $6k then 1%) Amex Blue Cash Preferred grocery, only one with annual fee ($75)
Nothing is free, someone pays...You can't spend your way to financial freedom.
-
- Posts: 8421
- Joined: Tue Aug 06, 2013 12:43 pm
Re: Best CC for (new) purchases
Or email reminders which almost have these days however it's been my experience that the first time you're late with a new card if you call they'll usually waive the late fee.grabiner wrote:The solution to this is to set up automatic payments on your cards from your checking account.rj49 wrote:My attempts to rotate through multiple cards for different bonuses backfired when I mistakenly missed a few payment deadlines, so the late penalty negated all the cash back I saved.
Re: Best CC for (new) purchases
+1 for Fidelity Visa. If you spend over $15,000/year then it works out to be 2% cash back on all purchases less a $75 annual fee. The cash back gets automatically deposited into your Fidelity account each month (which you can then transfer out whenever you'd like).
However it has a high foreign transaction fee so if you want a Visa card that you can use overseas, you'll want a second card for that.
However it has a high foreign transaction fee so if you want a Visa card that you can use overseas, you'll want a second card for that.
-
- Posts: 878
- Joined: Thu Sep 13, 2012 7:01 pm
Re: Best CC for (new) purchases
The Capital One Quicksilver card pays 1.5 % on everything. No annual fee. It's a very well managed program.
Re: Best CC for (new) purchases
People vary. Some are affected. Some are not. Rewards don't affect my spend. They just determine the card used. It's having credit that affects my spend.VictoriaF wrote:I agree with your logic. Most people claim that they are not influenced by rewards, TV commercials, coupons, and other discounts--and most people delude themselves.
Depends on the merchant. Cash doesn't have the same protections as credit either.OldLearner wrote:Maybe I'm missing something, but assuming you have the money to pay for the items (i.e., you don't intend to carry a credit card balance), you can generally get much better than a 1% or 2% discount by paying with cash--especially if you're making large purchases.
Worth is always highly subjective. It's rarely an issue for me so my AmEx cards are worth it to me (not to mention AmEx's CLI policy, backdating, etc).Cut-Throat wrote:I get very tired of Retailers telling me "We don't take American Express"..... Never have that problem with Visa.
It's just not worth the hassle.
Last edited by takeshi on Mon Jul 21, 2014 8:42 am, edited 3 times in total.
Re: Best CC for (new) purchases
I decide if I want to spend my money then how to figure out how to exploit every discount available. I had our fertility doctor turn down cash when we were getting ready at doing in vitro ($35+k). So I upped the limit on our 2% cards in preparation. I don't spend more by having more cards. I just figure out what card I am going to pull out of my deck. I would gladly pay cash but there hasn't been any incentives to do so. Only place that offered a cash discount was the gun shop, actually you pay a premium to use a credit card.takeshi wrote:People vary. Some are affected. Some are not. Rewards don't affect my spend. They just determine the card used. It's having credit that affects my spend.VictoriaF wrote:I agree with your logic. Most people claim that they are not influenced by rewards, TV commercials, coupons, and other discounts--and most people delude themselves.
Depends on the merchant. Cash doesn't have the same protections as credit either.OldLearner wrote:Maybe I'm missing something, but assuming you have the money to pay for the items (i.e., you don't intend to carry a credit card balance), you can generally get much better than a 1% or 2% discount by paying with cash--especially if you're making large purchases.
Worth is always highly subjective. It's rarely an issue for me so my AmEx cards are worth it to me (not to mention AmEx's CLI policy, backdating, etc).Cut-Throat wrote:I get very tired of Retailers telling me "We don't take American Express"..... Never have that problem with Visa.
It's just not worth the hassle.
Nothing is free, someone pays...You can't spend your way to financial freedom.