Best credit card deal

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protagonist
Posts: 6816
Joined: Sun Dec 26, 2010 12:47 pm

Re: Best credit card deal

Post by protagonist »

If you need to prove your credit worthiness, and you have a parent or significant other or child or somebody who has credit and is willing to take the risk, you could try to get somebody with good credit to cosign a loan, or sign you on as an "authorized user" of their credit card.

Of course these options come with risk to them (and in the latter case, to you as well), so doing so should not be taken lightly. Personally I would not want the responsibility...but it is another option if you don't want your own card.
shakenbake
Posts: 253
Joined: Tue May 17, 2016 8:46 pm

Re: Best credit card deal

Post by shakenbake »

For the members who have the Amex blue do you know of Walmart is included in the grocery store 6% cash back? I currently have the Chase preferred and it is offering 5% right now on groceries but excludes Walmart and Target.
Local options Walmart is my best choice right now for groceries.
Just had IRA transfered over to Vanguard from Metlife. | Newbie to the investment world.
shakenbake
Posts: 253
Joined: Tue May 17, 2016 8:46 pm

Re: Best credit card deal

Post by shakenbake »

The blue Amex is offering 10% cash back bonus in wireless payments made through this account 0% apr first 12 months 6% off at grocery stores 3% off gasoline.
Just had IRA transfered over to Vanguard from Metlife. | Newbie to the investment world.
SuperGrafx
Posts: 269
Joined: Sat Apr 05, 2014 11:36 pm

Re: Best credit card deal

Post by SuperGrafx »

Wireless payments as in ANY cellular provider (AT&T, Verizon, etc)?
I checked on that and wasn't 100% clear on what AMEX classifies as a 'wireless payment'...
shakenbake
Posts: 253
Joined: Tue May 17, 2016 8:46 pm

Re: Best credit card deal

Post by shakenbake »

I just called. My understanding is any U.S. Provider of wireless service. I asked specifically Verizon they said yes. Walmart purchases do not qualify. Meijer purchases do. Gas stations 3% must not be connected to superstore.
Just had IRA transfered over to Vanguard from Metlife. | Newbie to the investment world.
shakenbake
Posts: 253
Joined: Tue May 17, 2016 8:46 pm

Re: Best credit card deal

Post by shakenbake »

It sounds like you just make the payment with your card. Also if you purchase a phone through like Verizon you would get 10% back on that.
Just had IRA transfered over to Vanguard from Metlife. | Newbie to the investment world.
shakenbake
Posts: 253
Joined: Tue May 17, 2016 8:46 pm

Re: Best credit card deal

Post by shakenbake »

The cash back bonus you get either gets applied as a balance credit or you can purchase gift cards with it. You must accumulate $25.00 to cash in.
Please don't take my word for any of this double check.
Just had IRA transfered over to Vanguard from Metlife. | Newbie to the investment world.
Dilbydog
Posts: 99
Joined: Mon May 23, 2016 10:17 pm

Re: Best credit card deal

Post by Dilbydog »

Well to be blunt a 750-ish credit score is good, but not spectacular. I am assuming that's an actual FICO and not "FAKO" (Credit Karma, Credit Sesame, etc.) If your published scores are not true FICO's you really don't know where you stand from a credit score perspective. You can go to myfico.com and get your actual FICO, including the version that banks use for generating morgage FICO's, for a fee of course.

Considering that, in my experience, jumbos are much more sensitive to credit scores than conventional mortgages, and scores above 780 are required for the best rates. There are a number of websites that can help you "play the game" to get a quick bump in your score.
brajalle
Posts: 340
Joined: Tue Jul 13, 2010 12:03 pm

Re: Best credit card deal

Post by brajalle »

shakenbake wrote:For the members who have the Amex blue do you know of Walmart is included in the grocery store 6% cash back? I currently have the Chase preferred and it is offering 5% right now on groceries but excludes Walmart and Target.
Local options Walmart is my best choice right now for groceries.
Amex does not code Walmart/Target as grocery. I believe there is actually 2 grocery categories for MC/Visa, and for many cards those stores will show up as grocery, but slowly, most card issuers seem to be weeding those 2 stores out and only allowing actual grocery.
guitarguy
Posts: 1830
Joined: Mon Dec 20, 2010 4:10 pm

Re: Best credit card deal

Post by guitarguy »

brajalle wrote:
shakenbake wrote:For the members who have the Amex blue do you know of Walmart is included in the grocery store 6% cash back? I currently have the Chase preferred and it is offering 5% right now on groceries but excludes Walmart and Target.
Local options Walmart is my best choice right now for groceries.
Amex does not code Walmart/Target as grocery.
^ Correct.

Just opened the Citi Double Cash card today. Was semi-pleased to get a starting limit of $10k after some of the horror stories out there...but I'm still going to call and try to have them raise it. Our strategy going forward will be:

- Amex BlueCash Preferred for 6% on groceries
- PenFed Platinum Cash Rewards for 5% on gas
- Chase Amazon Visa for 3% back on Amazon
- Citi Double Cash for 2% back on everything else
- Chase Freedom Visa for 5% back on rotating categories (usually buy extra gift cards during the grocery quarter, and use for restaurants during the dining quarter. Not much else)
BW1985
Posts: 2058
Joined: Tue Mar 23, 2010 6:12 pm

Re: Best credit card deal

Post by BW1985 »

Anyone have a referral link to the Chase Southwest Plus card they want me to use? I'm just about to apply now. PM me.

I have a Chase Sapphire referral, would appreciate sending that out to anyone looking to apply.
Chase the good life my whole life long, look back on my life and my life gone...where did I go wrong?
inbox788
Posts: 7801
Joined: Thu Mar 15, 2012 5:24 pm

Re: Best credit card deal

Post by inbox788 »

guitarguy wrote:Just opened the Citi Double Cash card today. Was semi-pleased to get a starting limit of $10k after some of the horror stories out there...but I'm still going to call and try to have them raise it. Our strategy going forward will be:

- Amex BlueCash Preferred for 6% on groceries
- PenFed Platinum Cash Rewards for 5% on gas
- Chase Amazon Visa for 3% back on Amazon
- Citi Double Cash for 2% back on everything else
- Chase Freedom Visa for 5% back on rotating categories (usually buy extra gift cards during the grocery quarter, and use for restaurants during the dining quarter. Not much else)
That's a lot of cards to manage. I've been trying to simplify my life and use the 2% Fidelity Visa for everything (similar to the Citi Double Cash). If I spend $2500/year on groceries, 4% of that is $100. And $1000 on gas at 3% more is $30. $1000 Amazon spending $10, and keeping track of those rotating categories is a pain in the rear. When I had the Freedom card, I estimated it was .25% more for the categories, which might have been too high for me. I have a Target card that gets 5% off, so $1000 spending means $30 more than the 2% Visa. I've thought about cancelling, but free shipping has come in handy. Still, it's on the chopping block. I've already stopped using my Freedom Visa for a while now. I might get $200 in point optimizing, but it's a lot of work for me.

I might use the new Citi Costco card 4% for gas since I'll already have the card for Costco membership. So the only card I might consider is the 6% groceries, since it may work out to $100/year. The point is go for the big marginal benefit ones and see actual dollars saved, not just percentages, and avoid the small returns for life complication, like in my case getting an extra 1% on Amazon. YMMV.
an_asker
Posts: 2970
Joined: Thu Jun 27, 2013 2:15 pm

Re: Best credit card deal

Post by an_asker »

inbox788 wrote:[...]That's a lot of cards to manage. I've been trying to simplify my life and use the 2% Fidelity Visa for everything (similar to the Citi Double Cash). If I spend $2500/year on groceries, 4% of that is $100. And $1000 on gas at 3% more is $30. $1000 Amazon spending $10, and keeping track of those rotating categories is a pain in the rear. When I had the Freedom card, I estimated it was .25% more for the categories, which might have been too high for me. I have a Target card that gets 5% off, so $1000 spending means $30 more than the 2% Visa. I've thought about cancelling, but free shipping has come in handy. Still, it's on the chopping block. I've already stopped using my Freedom Visa for a while now. I might get $200 in point optimizing, but it's a lot of work for me.

I might use the new Citi Costco card 4% for gas since I'll already have the card for Costco membership. So the only card I might consider is the 6% groceries, since it may work out to $100/year. The point is go for the big marginal benefit ones and see actual dollars saved, not just percentages, and avoid the small returns for life complication, like in my case getting an extra 1% on Amazon. YMMV.
Nothing wrong with keeping your life simple, but you are missing the point here.

If you can get approved for a new credit card that gives you (just) 10,000 points for spending $1,000, you've made $40-$80 more than what you would've, had you used one of your existing credit cards.

Of course, the caveat here is a) you don't keep using the new card past the sign up bonus and cancel it before the annual fee (if any) hits and b) you can afford to have your credit score oscillate between good and excellent.
inbox788
Posts: 7801
Joined: Thu Mar 15, 2012 5:24 pm

Re: Best credit card deal

Post by inbox788 »

an_asker wrote:Nothing wrong with keeping your life simple, but you are missing the point here.

If you can get approved for a new credit card that gives you (just) 10,000 points for spending $1,000, you've made $40-$80 more than what you would've, had you used one of your existing credit cards.

Of course, the caveat here is a) you don't keep using the new card past the sign up bonus and cancel it before the annual fee (if any) hits and b) you can afford to have your credit score oscillate between good and excellent.
Not missing the point. Don't care for an extra $40 if it's a hassle (and my threshold for hassle is getting lower and lower these days). Where do you get $80? regularly? Also, if it's a difference of a 2% card vs. a 4% card, that's only a $20 difference, not $40.

Now if you're talking about bonuses for opening new cards, $80 is nothing! You should be looking at $200-500 offers!

https://www.chase.com/online/sapphire/sapphire.html

(this is on their web site and has been nearly a standing offer and there are better deals that come around frequently)
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