Which reward type credit cards is everyone using?

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KDP
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Which reward type credit cards is everyone using?

Post by KDP » Thu Mar 11, 2010 3:11 pm

First time poster here.
Currently taking advantage of the credit card "pay you back" programs.
Anyone know of any cards that are better than these 2?

Right now I have a Chase Freedom Card which gives:

3% Bonus cash back on gas, groceries and fast food purchases for the first six months*
•1% Unlimited cash back on everything else. No cap. No expiration.*
•0% Intro APR* on purchases for up to 12 months.*
•No annual fee
•Earn up to an additional 20% cash back at hundreds of merchants when you shop online with Chase Rewards Plus SM

I also have an Assoicated Bank Platinum card that has:

5% cash rebate on supermarkets, gas stations, drug stores.
1% on everything else.
Max $300 Rebate Dollars every calendar year.
Request checks when reward balance $50 or more.
No annual fee.

rwwoods
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Post by rwwoods » Thu Mar 11, 2010 3:43 pm

Welcome to the forum. Before posting a question, please use the search engine to see if it has been previously discussed. There have been numerious threads on credit cards.
"I'm not so much concerned about the return on my money as the return of my money" - Will Rogers

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modal
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Post by modal » Thu Mar 11, 2010 3:48 pm

Schwab 2% Visa and Penfed Platinum Visa (5% on Gas)

How to earn 2.75% with a debit and credit card....
http://www.freemoneyfinance.com/2010/02 ... -card.html

tomh
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Post by tomh » Thu Mar 11, 2010 4:10 pm

I think I would be using the Chase Freedom if I wanted cash back.

Instead we are at a stage that we do some vacationing and am using the Amex Hilton Honor card. It bonus' 5 pts per dollar. If you charge 3k per month, 36K per year....you get 180,000 points. That is almost enough for a 7 days at a Hilton Resort. Hilton has never denied me the nights I want even in peak season. We are at this moment staying at Hilton Bentley in South Beach (Miami) and this is spring break. The room (2 rooms) are very large).

I am not sure rebates could equal the cost of the Hilton accomodations.....again if traveling is preference.

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Ice-9
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Post by Ice-9 » Thu Mar 11, 2010 4:11 pm

My main three:

1. Chase Rewards Visa - 3% on grocery, drug stores, and gas

2. Chase Business MC - 3% on restaurants, office supply, and home supply

3. Discover - 5% on a theme that changes every 3 months

Plus sometimes I use:
Chase Amazon Visa - 3% on Amazon.com

All of the above are 1% cash back on everything else
Last edited by Ice-9 on Thu Mar 11, 2010 4:11 pm, edited 1 time in total.

TheEternalVortex
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Post by TheEternalVortex » Thu Mar 11, 2010 4:11 pm

I use a few cards:

mtvU (5% restaurants, bookstores (Amazon counts), movie theaters, music)
Driver's Edge (3-6% back on gas, grocery, drugstore, depending on miles driven)
Orchard Bank (2% on everything)

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XtremeSki2001
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Post by XtremeSki2001 » Thu Mar 11, 2010 4:12 pm

Marriott Rewards
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Post by gouldnm » Thu Mar 11, 2010 4:13 pm

My husband and I got our credit cards many years ago (before we were married), when the deals were still really good.

We get one point for every dollar spent. If we link to a vendor from their web site, we can get multiple points per dollar. We can then cash these points in for various gift cards. A few years ago I cashed in my points for a free laptop. Lately we've been cashing them in for Marriott gift cards, and as a result, we almost never have to pay for hotels when we travel.

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Post by mptfan » Thu Mar 11, 2010 4:14 pm

rwwoods wrote:Welcome to the forum. Before posting a question, please use the search engine to see if it has been previously discussed. There have been numerious threads on credit cards.
With all due respect, I think almost every financial topic has been discussed on this forum at one time or another. If that were the standard, then this forum would eventually die out due to a lack of new threads.

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Post by Sheepdog » Thu Mar 11, 2010 4:15 pm

These are the cards which I use. I use the card which gives me the highest rebate for the particular purchase or place of purchase,

Pentagon Federal Credit Union Platinum Cash Rewards Visa 5% gasoline, 2% groceries, 1.25% everything else and no tiers. No limit on annual rebates.

National City Everyday Rewards Visa 4% gasoline 3% movies and movie rentals, 2% restaurants and groceriies. up to 1% (tiers) on everything else. There is a maximum $750 a year in rebates)

Discover Card up to 1% (tiered), but quarterly there are categories which earn 5% rebate. There are limits on charges for the quarterly 5% categories

HSBC Platinum Cash Mastercard 5% rebate for all purchases at Walmart and Kmart plus all grocery stores, drugstores and gasoline; also 1% on everything else with no tiers. This card is grandfathered. There are no annual limits. You cannot get it anymore.
Jim
Just because it isn't your fault doesn't mean it isn't your responsibility....Josh Reid Jones

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Post by fsrph » Thu Mar 11, 2010 4:22 pm

Sheepdog wrote:Pentagon Federal Credit Union Platinum Cash Rewards Visa 5% gasoline, 2% groceries, 1.25% everything else and no tiers.Jim
That's what I use too. I have no complaints with this Pentagon Card. I tried other reward cards from big banks .... and they all started with decent rebates. Then they slowly reduced or eliminated the rebate percentages making the cards unattractive to me.

Francis

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Post by Sam I Am » Thu Mar 11, 2010 4:36 pm

Message deleted.
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Post by wish2bCFP » Thu Mar 11, 2010 4:46 pm

I use the Southwest Airlines Rapid Rewards Visa. You can earn credits redeemable for tickets with regular purchases as well as earn credits for using their car rental and hotel partners. It takes just 16 credits for a free ticket. There are blackout dates and limited "award seats" for each flight. If you earn 100 credits in a 12 month period, you get a companion pass which allows your named companion to fly free with you whenever you fly for a whole year, even if you are using a free ticket to fly!! Since I travel a lot,it's been nice for my wife to fly free with me. You can even give a free flight award to someone else.
Check it out on the Southwest website.

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Post by Steelersfan » Thu Mar 11, 2010 4:50 pm

USAIR VISA airline miles card. For the trips I take I get about 1.5% back on everything I put on the card, and I only need to carry one card (plus a back-up I never use). Add that to the flights I take on USAIR and I get a free flight to Europe every second or third year.

The best card for a person depends on where they do their shopping and what they intend to use the rewards for. e.g. I buy very little gasoline so a card that gives high rewards on gas purchases means nothing to me.

natureexplorer
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Post by natureexplorer » Thu Mar 11, 2010 5:03 pm

Schwab 2% Visa. I believe no other card gets you a better exchange rate after considering both international transaction fees and cash back.

I also like that it details pending transactions rather than just the sum. It is also convenient that for foreign transactions it lists both the original amount in the local currency as well as in dollars. None of those two features existed at my old Chase card.

Disadvantage is that the cash back is deposited into a Schwab brokerage account, so one has to manually move it, but I guess it is worth the extra 1% in cash-back.

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Post by chaz » Thu Mar 11, 2010 5:21 pm

Chase Freedom Card
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Post by topper1296 » Thu Mar 11, 2010 6:51 pm

My primary card the 2% Schwab VISA Signature cash back where the cash back is automatically deposited into my brokerage account every month. I did use the Amex Blue Cash for my primary card, but switched to the VISA because the Amex wasn't accepted in as many places (this was a major issue for me), you didn't get the cash back until the end of the year, and the cash back reward was decreased.
Last edited by topper1296 on Thu Mar 11, 2010 7:02 pm, edited 1 time in total.

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Post by KyleAAA » Thu Mar 11, 2010 6:56 pm

Chase Freedom and Citi Dividend here

tj
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Post by tj » Thu Mar 11, 2010 8:09 pm

also have an Assoicated Bank Platinum card that has:

5% cash rebate on supermarkets, gas stations, drug stores.
Looks like its only 3% now.

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Post by MWCA » Thu Mar 11, 2010 8:20 pm

Pen Fed Visa. For overseas use Capital One.
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kermit
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Post by kermit » Thu Mar 11, 2010 8:25 pm

Schwab 2% cash back with no foreign transaction fees
Chase 5% cash back on gas and groceries

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Post by slick_dealer_05 » Thu Mar 11, 2010 8:37 pm

I get a new rewards credit card every 6 months and cancel it within the first year to maximize bonus points/ miles.
Currently using the BA credit card with 100,000 bonus miles http://www.fatwallet.com/forums/finance/964868/
and AA credit card with 30,000 bonus miles
http://www.fatwallet.com/forums/finance/990675

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Post by GammaPoint » Thu Mar 11, 2010 8:49 pm

kermit wrote:Schwab 2% cash back with no foreign transaction fees
Chase 5% cash back on gas and groceries
Which Chase gives you 5% back on groceries?


I have Chase Perfectcard and Amex Blue cash. I use the Amex everywhere I can though.

JasonP
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Post by JasonP » Thu Mar 11, 2010 8:52 pm

Just opened a new IRA with Fidelity for the 2% rewards card they offer.

Triple digit golfer
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Post by Triple digit golfer » Thu Mar 11, 2010 8:56 pm

Some of the rewards I can't find anywhere. These must be "grandfathered" in, no?

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Post by kermit » Thu Mar 11, 2010 8:56 pm

GammaPoint wrote:
kermit wrote:Schwab 2% cash back with no foreign transaction fees
Chase 5% cash back on gas and groceries
Which Chase gives you 5% back on groceries?


I have Chase Perfectcard and Amex Blue cash. I use the Amex everywhere I can though.
I don't know. I've had the card for like 3 years now. I think it's Chase Freedom? I might be grandfathered into a card that doesn't exist anymore.

conundrum
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Post by conundrum » Thu Mar 11, 2010 9:01 pm

We have been very happy with our Schwab Visa card. As others have note above, 2% cash back on everything, deposited into Schwab account monthly. No fees for foreign transactions is also a great feature.

Drum :lol:

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Post by GammaPoint » Thu Mar 11, 2010 9:01 pm

kermit wrote:
I don't know. I've had the card for like 3 years now. I think it's Chase Freedom? I might be grandfathered into a card that doesn't exist anymore.
Maybe so. Here is the Chase Freedom I find and I guess it's only 1% on groceries.

http://www.chasecreditcards.com/cash-ba ... OWSEALL12U

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Post by dkdoy » Thu Mar 11, 2010 9:04 pm

Chase Freedom and Costco AMX.

MWCA
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Post by MWCA » Thu Mar 11, 2010 9:50 pm

If you look closely the few big ones all are pretty close to each other. I signed up for Chase since they wanted to give me 100 bucks. Im not that rich yet to scoff at 100 dollars. :) Id probably use Pen Fed all the time if not for the fact they charge you for overseas use.

I keep eying up that American Express that wants to give me free airline tickets. Then I read the fine print about an annual fee after the first year. Im just too lazy to cancel.

Chase and Pen Fed seem to be quality cards. Maybe one will jump the shark and compel me to use it most of the time. Competition is nice eh?
Last edited by MWCA on Thu Mar 11, 2010 9:53 pm, edited 1 time in total.
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Post by DaleMaley » Thu Mar 11, 2010 9:53 pm

Pentagon Federal Credit Union Platinum Cash Rewards Visa 5% gasoline, 2% groceries, 1.25% everything else and no tiers. No limit on annual rebates.
That's mine too...........for about 1 year and no problems at all.
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Post by daytona084 » Thu Mar 11, 2010 10:20 pm

rwwoods wrote:
Welcome to the forum. Before posting a question, please use the search engine to see if it has been previously discussed. There have been numerious threads on credit cards.
mptfan wrote:
With all due respect, I think almost every financial topic has been discussed on this forum at one time or another. If that were the standard, then this forum would eventually die out due to a lack of new threads.
I agree with mptfan. Furthermore, because the rewards are changing by the minute in response to the new regulations, older threads are probably of particularly limited value in this case.


Welcome to the forum, KDP!

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Post by natureexplorer » Thu Mar 11, 2010 10:26 pm

wjwhitney wrote:rwwoods wrote:
Welcome to the forum. Before posting a question, please use the search engine to see if it has been previously discussed. There have been numerious threads on credit cards.
mptfan wrote:
With all due respect, I think almost every financial topic has been discussed on this forum at one time or another. If that were the standard, then this forum would eventually die out due to a lack of new threads.
I agree with mptfan. Furthermore, because the rewards are changing by the minute in response to the new regulations, older threads are probably of particularly limited value in this case.


Welcome to the forum, KDP!
And let's face it. Credit cards are a pretty boring subject, so we come here seeking refuge with the other few who want to talk about their credit cards.

MWCA
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Post by MWCA » Thu Mar 11, 2010 10:33 pm

natureexplorer wrote:
wjwhitney wrote:rwwoods wrote:
Welcome to the forum. Before posting a question, please use the search engine to see if it has been previously discussed. There have been numerious threads on credit cards.
mptfan wrote:
With all due respect, I think almost every financial topic has been discussed on this forum at one time or another. If that were the standard, then this forum would eventually die out due to a lack of new threads.
I agree with mptfan. Furthermore, because the rewards are changing by the minute in response to the new regulations, older threads are probably of particularly limited value in this case.


Welcome to the forum, KDP!
And let's face it. Credit cards are a pretty boring subject, so we come here seeking refuge with the other few who want to talk about their credit cards.
Lol..talk finances or investing with my family at all they get a blank look on their face... I need an outlet! ;)
We are all worms. But I believe that I am a glow-worm.

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Post by Tyrobi » Fri Mar 12, 2010 12:22 am

  • 5% Penfed for gas
    2% Schwab for everything else
    1% Discover for Sam's Club
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Post by jasonp99 » Fri Mar 12, 2010 2:35 am

Tyrobi wrote:
  • 5% Penfed for gas
    2% Schwab for everything else
    1% Discover for Sam's Club
I use Amex Blue Cash - 5% on gas/groceries/drugstores after spending $6500, 1.25% on everything else.

Prior to spending $6500 the rebates are 1%/0.5%. I used to use Chase Freedom for everyday stuff until they axed the 3% benefit last year. Also used to use HSBC Cash Back Mastercard when I could get $300/yr on $15000 in purchases (tiered), but alas they have gone to a flat 1% rebate.

If you want airline miles sign up for a Delta, AA, or United card and get the free miles (may have to make some minimum level of purchases) + miles on whatever you spend. Cancel before annual fee kicks in on 2nd year. If you travel a lot, cycle through the 3 cards in 3 years time then start over again ;) Never have to pay an annual fee that way!


UPDATE - just checked the airline cards and now only Amex Delta waives the fee for the first year. Chase United is $60 (you get 30,000 miles), Citi AA is $85.

Live Free or Diehard
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Post by Live Free or Diehard » Fri Mar 12, 2010 9:14 am

Chase Freedom - 3% on top 5 categories monthly, 1% on everything else.

Another Chase Freedom - 3% on rotating quarterly categories, 1.1% on everything else, plus 10 bonus points per purchase. Great for small purchases.

Discover card - 5% on quarterly rotating categories and special month categories.

National City Everyday Rewards - 4% on gas, 3% on movies, 2% on groceries and restaurants.

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Random Musings
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Post by Random Musings » Fri Mar 12, 2010 9:26 am

Chase Freedom and Costco.

RM

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Post by pochax » Fri Mar 12, 2010 9:34 am

5% (cash or equivalent points) back from:
AMEX Blue for groceries, pharmacies, gas
CitiForward Visa for restaurants/fast food, DVD/Movie/Bookstores (including anything from Amazon - even non-book items)

1.25% cash back from AMEX Blue for everything else.

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OAG
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Post by OAG » Fri Mar 12, 2010 9:46 am

Sheepdog wrote:These are the cards which I use. I use the card which gives me the highest rebate for the particular purchase or place of purchase,

Pentagon Federal Credit Union Platinum Cash Rewards Visa 5% gasoline, 2% groceries, 1.25% everything else and no tiers. No limit on annual rebates.

National City Everyday Rewards Visa 4% gasoline 3% movies and movie rentals, 2% restaurants and groceriies. up to 1% (tiers) on everything else. There is a maximum $750 a year in rebates)

Discover Card up to 1% (tiered), but quarterly there are categories which earn 5% rebate. There are limits on charges for the quarterly 5% categories

HSBC Platinum Cash Mastercard 5% rebate for all purchases at Walmart and Kmart plus all grocery stores, drugstores and gasoline; also 1% on everything else with no tiers. This card is grandfathered. There are no annual limits. You cannot get it anymore.
Jim
Need to check your PENFED card. I believe it is 5/2/1 (since 3/1/10) but still a good card.
OAG=Old Army Guy. Retired CW4 USA (US Army) in 1979 21 years of service @ 38.

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Post by mediahound » Fri Mar 12, 2010 9:53 am

jasonp99 wrote:I used to use Chase Freedom for everyday stuff until they axed the 3% benefit last year
I'm still on the 3% plan and will keep it until they force me to change, then I'll look for another card (probably the AMEX Blue Cash).

When I received a letter last year from Chase informing me of the change, I noticed some fine print which said to call them if I wanted to remain with the original Chase Freedom plan I was on. I did so and they kept it the same ever since.

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Post by Quidnam » Fri Mar 12, 2010 12:43 pm

My wife and I use Amex Blue Cash for nearly everything. We also have a Chase Freedom MasterCard to use as a backup, but there are very few merchants in NYC that do not accept Amex.

With the Blue Cash, we've gotten back $2298.55 in the course of 3 years. I suspect the rewards mix may not be optimal for us, given that we don't buy gas except when renting a car, but we've stuck with it at least partly out of inertia.

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Post by Sheepdog » Fri Mar 12, 2010 1:25 pm

OAG wrote:
Sheepdog wrote:These are the cards which I use. I use the card which gives me the highest rebate for the particular purchase or place of purchase,

Pentagon Federal Credit Union Platinum Cash Rewards Visa 5% gasoline, 2% groceries, 1.25% everything else and no tiers. No limit on annual rebates.

National City Everyday Rewards Visa 4% gasoline 3% movies and movie rentals, 2% restaurants and groceriies. up to 1% (tiers) on everything else. There is a maximum $750 a year in rebates)

Discover Card up to 1% (tiered), but quarterly there are categories which earn 5% rebate. There are limits on charges for the quarterly 5% categories

HSBC Platinum Cash Mastercard 5% rebate for all purchases at Walmart and Kmart plus all grocery stores, drugstores and gasoline; also 1% on everything else with no tiers. This card is grandfathered. There are no annual limits. You cannot get it anymore.
Jim
Need to check your PENFED card. I believe it is 5/2/1 (since 3/1/10) but still a good card.

I had read here that the rates were going to be revised, but I never receved a notice from the bank, and I read all fine print. I will receive my March statement on the 16th so I will see how much I received.
Jim
Just because it isn't your fault doesn't mean it isn't your responsibility....Josh Reid Jones

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daytona084
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Post by daytona084 » Fri Mar 12, 2010 3:30 pm

mediahound wrote:
I'm still on the 3% plan and will keep it until they force me to change, then I'll look for another card (probably the AMEX Blue Cash).

When I received a letter last year from Chase informing me of the change, I noticed some fine print which said to call them if I wanted to remain with the original Chase Freedom plan I was on. I did so and they kept it the same ever since.
You are lucky... same thing happened to me but I did not notice any offer to call to remain on the same plan. When I did call they refused. They told me to apply for the 3% card if I wanted it. Haven't decided whether to do that yet. Not sure if it's worth getting worked up about.

Revision17
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Post by Revision17 » Fri Mar 12, 2010 4:35 pm

I have the Fidelity Investments reward card. 2% cash back on everything, with the rewards redeemable every $50.

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Post by mediahound » Fri Mar 12, 2010 4:38 pm

Revision17 wrote:I have the Fidelity Investments reward card. 2% cash back on everything, with the rewards redeemable every $50.
is it really cash back? I hear it has to go in a Schwab IRA.

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Post by DaleMaley » Fri Mar 12, 2010 5:40 pm

OAG wrote:
Sheepdog wrote:These are the cards which I use. I use the card which gives me the highest rebate for the particular purchase or place of purchase,

Pentagon Federal Credit Union Platinum Cash Rewards Visa 5% gasoline, 2% groceries, 1.25% everything else and no tiers. No limit on annual rebates.

Need to check your PENFED card. I believe it is 5/2/1 (since 3/1/10) but still a good card.
I just checked Penfed.org's web site:

Image

It is now 5/2/1.
Most investors, both institutional and individual, will find that the best way to own common stocks is through an index fund that charges minimal fees. – Warren Buffett

mrbuddha09
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Post by mrbuddha09 » Sat Mar 13, 2010 5:08 am

Just received my 2% Schwab Visa this month. So far so good.

Will be phasing out my 1% Chase Rewards and Discover Card shortly.

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Post by Sheepdog » Sat Mar 13, 2010 12:03 pm

DaleMaley wrote:
OAG wrote:
Sheepdog wrote:These are the cards which I use. I use the card which gives me the highest rebate for the particular purchase or place of purchase,

Pentagon Federal Credit Union Platinum Cash Rewards Visa 5% gasoline, 2% groceries, 1.25% everything else and no tiers. No limit on annual rebates.

Need to check your PENFED card. I believe it is 5/2/1 (since 3/1/10) but still a good card.
I just checked Penfed.org's web site:

It is now 5/2/1.

Thank you. I too had seen that notice, but I don't take that as gospel. I did not receive a written notice from them personally. Sometimes, credit card companies "grandfather" certain accounts. My HSBC card is an example, Other customers do not receive, or no longer receive, the 5% rebates I receive because my account was grandfathered. Some customers received notices that theirs would be reduced. I never did and mine wasn't. As I said, I will see what I received on my next statement.
Jim
Just because it isn't your fault doesn't mean it isn't your responsibility....Josh Reid Jones

smackfu
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Post by smackfu » Sat Mar 13, 2010 12:30 pm

I have too many cards.

Chase Amazon MC - 3% on Amazon, only use at Amazon

I spend enough at Amazon that this is worth it.

Citi Plat Amex - 5% everyday, 3% all, in TY points

This has a fee, $100 or so? Not a fan of that but it has a couple of add on programs (credit monitor and airline lounges) that make it tolerable to me. Plus the sign-up bonus was worth more than 2 years of the fee, which is an easy factor to forget. Not sure this card still exists in the same form?

TY points I generally consider as $0.01 since you can spend them that way on Expedia or $100 gift certs. That does require amassing 10,000 TY points though.

Starwood Amex - 1 SPG points per $

This has a $45 fee but it's a very old card with a large credit limit which makes it somewhat worth it.

SPG points are tougher to value, since the hotels are fixed in point value for free nights, but their actual rates vary due to market conditions:
12,000 pts = a $227 room, $0.019 per point, so 2%
3,000 pts = a $123 room, $0.04 per point, so 4%

Chase Amtrak - 1 Amtrak point per $

Have this just because some places don't take Amex. To get a one-way Northeast ticket takes 3000 points, and would otherwise cost me $75-$150, for a reward rate of 2-5%. In other parts of the country, I'm not sure how valuable this would be, since the tickets are 5000 pts and generally cost less. Also, you obviously need to take the train occasionally.

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