Best credit card options??

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Bayoufrogg
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Best credit card options??

Post by Bayoufrogg » Mon Jul 31, 2017 10:00 am

We travel 1-2 times per year. Reward miles are nice, but mainly looking for the best cash back with lowest annual fee.

I really liked the idea of signing up for Penfed Visa for gas and using Fidelity Visa for everything else.

Just tried to sign up for Penfed Visa; looks like the 5% cash back for gas is out for "most" new members. They are down to 1.5% cash back, same as my Capital One Quicksilver card.

Thinking I should retire the Quicksilver 1.5% and move to Fidelity Visa @ 2% cash back. Any alternatives or other cards I should consider?

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heartwood
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Re: Best credit card options??

Post by heartwood » Mon Jul 31, 2017 10:18 am

Bayoufrogg wrote:We travel 1-2 times per year. Reward miles are nice, but mainly looking for the best cash back with lowest annual fee.

I really liked the idea of signing up for Penfed Visa for gas and using Fidelity Visa for everything else.

Just tried to sign up for Penfed Visa; looks like the 5% cash back for gas is out for "most" new members. They are down to 1.5% cash back, same as my Capital One Quicksilver card.

Thinking I should retire the Quicksilver 1.5% and move to Fidelity Visa @ 2% cash back. Any alternatives or other cards I should consider?
Costco Citi Visa offers 4% on gasoline. The card is free, but you have to be a Costco member. The money back is once a year, in February/March as a voucher to be used or cashed at Costco.

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flamesabers
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Re: Best credit card options??

Post by flamesabers » Mon Jul 31, 2017 10:34 am

Bayoufrogg wrote:Any alternatives or other cards I should consider?
If you're eligible to get them, USAA has two good cards you may want to consider.

USAA's Limitless Visa offers 2.5% cashback on all purchases. You must have a USAA checking account with a $1k monthly deposit to qualify for this rate, otherwise you just get 1.5% cashback. I use my Vanguard money market account for the $1k monthly deposit.

USAA's Cashback Rewards Plus American Express offers 5% cashback on gas purchases up to the first $3k for each year.

Neither card has an annual fee. You can redeem the cashback whenever you want and in increments as small as $1.

lakpr
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Re: Best credit card options??

Post by lakpr » Mon Jul 31, 2017 4:40 pm

Bayoufrogg wrote: Just tried to sign up for Penfed Visa; looks like the 5% cash back for gas is out for "most" new members. They are down to 1.5% cash back, same as my Capital One Quicksilver card
The Penfed Platinum Rewards Visa card is still available, and can be a close-enough approximation to the discontinued 5% cashback on gas card.
It offers 5% in *points* on gas purchases, 3% in points on groceries, and 1% in points on everything else.
You can exchange points for $50 Visa gift card = 5880 points (so 1 point = 0.85 cents).
Restated, this is a 4.25% Gas / 2.55% Groceries / 0.85% everything else cashback card.

So as long as you are willing to
(1) redeem only in multiples of 5880 points, no partial redemptions
(2) accept cashback as pre-paid Visa card
this card can be a great option.

I have one, it's easy to meet the 5880 points threshold between gas and groceries once every quarter for me, and I always redeem as Visa gift cards.

Beats the Costco Citi Visa card with its 4% back on gas, and specific to only Costco store.
There is no implicit annual fee (as with Costco visa, requires you to be a member of Costco, $60 per year).

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DaftInvestor
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Re: Best credit card options??

Post by DaftInvestor » Mon Jul 31, 2017 7:25 pm

Another consideration is Citi Double-Cashback card which pays 2% back on everything with no annual fee.

bnes
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Re: Best credit card options??

Post by bnes » Mon Jul 31, 2017 7:31 pm

Consider also having a card for use during foreign travel. Both the quality of the exchange rate and the fee are important, some cards charge 3% or more in fee. The DoubleCash from Citi is a good card, with an above average set of web services.

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Alexa9
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Re: Best credit card options??

Post by Alexa9 » Mon Jul 31, 2017 7:36 pm

I've had the Citi Doublecash and Fidelity and Citi's website is infinitely better. If you like Costco, their card is also great.
Chase Freedom is decent.
AMEX Blue Cash Preferred is worth it if you spend a significant amount on groceries.
Many of the airline and travel cards are worth it for a free flight or two.

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climber2020
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Re: Best credit card options??

Post by climber2020 » Mon Jul 31, 2017 8:40 pm

The Citi Doublecash card has a 3% foreign transaction fee. The Fidelity Visa has a 1% foreign transaction fee. If you're traveling internationally, you don't want to use either of these cards.

I travel a lot, and the one card I use for everything is a Capital One Quicksilver, which you already have. No foreign transaction fee. I could have several cards for several different purposes, but I like the simplicity of putting everything on a single card. My backup is an Amazon Visa, though I haven't used it in years. Decent rewards, no annual fee, and no foreign transaction fee as of late 2016 (it used to be 3%, but they did away with it).

A brief writeup I did on this topic a few months ago: https://www.liteadventurer.com/the-best ... edit-card/

radiowave
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Re: Best credit card options??

Post by radiowave » Mon Jul 31, 2017 10:50 pm

bnes wrote:Consider also having a card for use during foreign travel. Both the quality of the exchange rate and the fee are important, some cards charge 3% or more in fee. The DoubleCash from Citi is a good card, with an above average set of web services.
+1 on QuickSilver CapOne. Worked well in Europe last year for us, unfortunately it won't do eBill anymore.
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cliffrlp
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Re: Best credit card options??

Post by cliffrlp » Mon Jul 31, 2017 11:08 pm

IHG Rewards Club - $49 a year (1st year waived) after the 1st year you get a free night in any IHG hotel. Well worth the $49 since any hotel choice will be more expensive and there is no tier program, any hotel under their umbrella you can get. Plus, right now 80,000 points for a 1k spend in 3 months is pretty easy. Not necessarily a daily use card after the 1k spend but if you travel, the bonus of 1 free night (if you and SO get it, then back to back nights etc are possible) and the 80k miles are really a no brainer. If you're into churning it also doesn't impact 5/24 so lots of other cards to choose from, I don't churn but figured 1 free night a year is worth it. Oh and no foreign transaction fees which is nice if you stay at an IHG hotel abroad and can get the 5x points. :sharebeer

dashtadj
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Re: Best credit card options??

Post by dashtadj » Tue Aug 01, 2017 12:57 am

Penfed has a 2% cash back card, all purchases. No annual fee, no foreign transaction fees

DSInvestor
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Re: Best credit card options??

Post by DSInvestor » Tue Aug 01, 2017 1:17 am

I like Citi Double Cash for domestic use and Capital One Quicksilver (no annual fee, 1.5% cash back, no foreign transaction fee) for foreign use.
I also have a Costco Citi card (2% cash back for cost purchases, 4% gas, 1% everything else).

Citi cards have a nice feature called CITI Price Rewind where you register your purchases and the service will look for lower prices for 60 days. If lower price is found, you will be refunded the price difference.
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climber2020
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Re: Best credit card options??

Post by climber2020 » Tue Aug 01, 2017 6:09 am

dashtadj wrote:Penfed has a 2% cash back card, all purchases. No annual fee, no foreign transaction fees
Is this card available to everyone, or are there certain restrictions on who can apply?

takeshi
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Re: Best credit card options??

Post by takeshi » Tue Aug 01, 2017 8:44 am

Bayoufrogg wrote:but mainly looking for the best cash back with lowest annual fee.
A 2% card is probably the way to go. You need to do the math to work out what sort of gain you might get on cards that offer more than 2% on specific categories to give you an idea of how much $ you're talking about. Figure out your biggest spend categories and then find a card that has higher rewards earn rates on that spend.
Bayoufrogg wrote:Thinking I should retire the Quicksilver 1.5% and move to Fidelity Visa @ 2% cash back.
Same thing here. How much of a difference is 0.5% on spend you'd put on the card?
dashtadj wrote:Penfed has a 2% cash back card, all purchases. No annual fee, no foreign transaction fees
There are requirements (outlined on PenFed's site) to get 2% otherwise it is 1.5%.
climber2020 wrote:Is this card available to everyone, or are there certain restrictions on who can apply?
As with any credit union, one has to qualify for membership. Eligibility info can be found on their site.

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midareff
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Re: Best credit card options??

Post by midareff » Tue Aug 01, 2017 8:52 am

Bayoufrogg wrote:We travel 1-2 times per year. Reward miles are nice, but mainly looking for the best cash back with lowest annual fee.

I really liked the idea of signing up for Penfed Visa for gas and using Fidelity Visa for everything else.

Just tried to sign up for Penfed Visa; looks like the 5% cash back for gas is out for "most" new members. They are down to 1.5% cash back, same as my Capital One Quicksilver card.

Thinking I should retire the Quicksilver 1.5% and move to Fidelity Visa @ 2% cash back. Any alternatives or other cards I should consider?

Last I heard with them is you had to have an account such as a car loan or mortgage to still get the 5% card.

Don't forget the AMEX Blue Cash Preferred which provides 6% back on groceries up to $6K in purchases a year for a annual $95. I think they waive the first year. We spend about $6K a year at the grocery store so it works perfectly for us.


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oldcomputerguy
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Re: Best credit card options??

Post by oldcomputerguy » Wed Aug 02, 2017 5:13 am

bnes wrote:Consider also having a card for use during foreign travel. Both the quality of the exchange rate and the fee are important, some cards charge 3% or more in fee. The DoubleCash from Citi is a good card, with an above average set of web services.
The Capital One Quicksilver card that the OP mentioned is also a good choice for this, it has no foreign transaction fee and no annual fee as opposed to the Fidelity card which charges a foreign transaction fee. I have a Quicksilver card and am keeping it just for foreign travel. I use the Fidelity Visa for most everything else.
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BL
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Re: Best credit card options??

Post by BL » Wed Aug 02, 2017 7:02 am

climber2020 wrote:
dashtadj wrote:Penfed has a 2% cash back card, all purchases. No annual fee, no foreign transaction fees
Is this card available to everyone, or are there certain restrictions on who can apply?
It is not automatic cash back as is their Defenders' AmEx card. Seems you can direct $20 increments of cash back to your statement whenever you choose. Also, they will ding you $1/month for paper statements unless you get excepted. Irritants, but they are minor.
You need checking account or military service to increase the 1.5% to 2.0%.

Laren
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Re: Best credit card options??

Post by Laren » Wed Aug 02, 2017 2:51 pm

Alliant Credit Union has a Visa card that is 3% back and no annual fee for the first year, then 2.5% back and $59 annual fee subsequently. You do have to open an Alliant account so that you're a member of the credit union, but that's easy to do online. For at least the first year, it's the best cash back card I've seen. After the first year, the USAA 2.5% card will be better if you can get it since it has no annual fee. They still haven't rolled out the USAA card to my state or I might have just gone with that for simplicity. As it is, I couldn't pass up the 3%.

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