What's Your Credit Card Rewards Strategy?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
JBTX
Posts: 8364
Joined: Wed Jul 26, 2017 12:46 pm

Re: Favorite Credit Cards

Post by JBTX »

Tingting1013 wrote: Mon Jul 05, 2021 1:18 am
JBTX wrote: Mon Jul 05, 2021 1:09 am
Tingting1013 wrote: Mon Jul 05, 2021 12:59 am
JBTX wrote: Sun Jul 04, 2021 11:15 pm
Tingting1013 wrote: Sat Jul 03, 2021 12:18 pm

Current promotion on the SYW card is a doozy:

For total eligible gas station, grocery store and restaurant purchases of $1,500 or more made each month from 7/1/2021 (or the date you activate this offer, whichever is later) through 9/30/2021, you’ll earn 10% back in statement credits (up to a maximum total of $200 in statement credit(s) each month for this offer).
So you have to spend $1500 a month on gas, groceries and restaurants to get the 10%? Is it only on purchases over $1500 a month, or at dollar $1500 do you get $150 credit?
You have to spend at least $1500 in one month to get anything. Really separates the boys from the men...
You may get the 10%, per month, for 3 months if you exceed the monthly threshold, but there is a $10000 limit on the base 5%, 3%, 2% benefit. While it seems possible to use this to your benefit, you really have to track it. I may look at it further but I'm not seeing the net positive given the hoops. The base benefits aren't spectacular and I mostly get them on other cards.
Forget the base benefits, what other card is paying out 10% on gas/grocery/restaurants for Q3?
I looked at the money ninja thing, it does look like some of the promos can be very lucrative. I'm definitely going to put this on my watch list.
MrBeaver
Posts: 393
Joined: Tue Nov 14, 2017 4:45 pm

Re: What's Your Credit Card Rewards Strategy?

Post by MrBeaver »

Tingting1013 wrote: Mon Jul 05, 2021 1:18 am
JBTX wrote: Mon Jul 05, 2021 1:09 am
Tingting1013 wrote: Mon Jul 05, 2021 12:59 am
JBTX wrote: Sun Jul 04, 2021 11:15 pm
Tingting1013 wrote: Sat Jul 03, 2021 12:18 pm

Current promotion on the SYW card is a doozy:

For total eligible gas station, grocery store and restaurant purchases of $1,500 or more made each month from 7/1/2021 (or the date you activate this offer, whichever is later) through 9/30/2021, you’ll earn 10% back in statement credits (up to a maximum total of $200 in statement credit(s) each month for this offer).
So you have to spend $1500 a month on gas, groceries and restaurants to get the 10%? Is it only on purchases over $1500 a month, or at dollar $1500 do you get $150 credit?
You have to spend at least $1500 in one month to get anything. Really separates the boys from the men...
You may get the 10%, per month, for 3 months if you exceed the monthly threshold, but there is a $10000 limit on the base 5%, 3%, 2% benefit. While it seems possible to use this to your benefit, you really have to track it. I may look at it further but I'm not seeing the net positive given the hoops. The base benefits aren't spectacular and I mostly get them on other cards.
Forget the base benefits, what other card is paying out 10% on gas/grocery/restaurants for Q3?
How do rewards get redeemed from the Sears SYW card?

I’ve seen some places suggesting they can only be used in a particular list of sores (Sears, Kmart, Lands End, other?) and places that claim they can be redeemed as Citi ThankYou points, which seem more flexible.

I wouldn’t want to jump to this card if the rewards are hard to use.
Tingting1013
Posts: 1594
Joined: Mon Aug 24, 2020 5:44 pm

Re: What's Your Credit Card Rewards Strategy?

Post by Tingting1013 »

MrBeaver wrote: Mon Jul 05, 2021 10:27 am
Tingting1013 wrote: Mon Jul 05, 2021 1:18 am
JBTX wrote: Mon Jul 05, 2021 1:09 am
Tingting1013 wrote: Mon Jul 05, 2021 12:59 am
JBTX wrote: Sun Jul 04, 2021 11:15 pm

So you have to spend $1500 a month on gas, groceries and restaurants to get the 10%? Is it only on purchases over $1500 a month, or at dollar $1500 do you get $150 credit?
You have to spend at least $1500 in one month to get anything. Really separates the boys from the men...
You may get the 10%, per month, for 3 months if you exceed the monthly threshold, but there is a $10000 limit on the base 5%, 3%, 2% benefit. While it seems possible to use this to your benefit, you really have to track it. I may look at it further but I'm not seeing the net positive given the hoops. The base benefits aren't spectacular and I mostly get them on other cards.
Forget the base benefits, what other card is paying out 10% on gas/grocery/restaurants for Q3?
How do rewards get redeemed from the Sears SYW card?

I’ve seen some places suggesting they can only be used in a particular list of sores (Sears, Kmart, Lands End, other?) and places that claim they can be redeemed as Citi ThankYou points, which seem more flexible.

I wouldn’t want to jump to this card if the rewards are hard to use.
A few posts back I gave the link to the gift card store to redeem SYW points.

A few of the more useful ones:
American Airlines
Uber
DoorDash
Hotels.com
Instacart
WalMart

But to be clear, SYW points are the sideshow here. The card is all about the straight cash rebates which are paid in statement credits, not points.
MrBeaver
Posts: 393
Joined: Tue Nov 14, 2017 4:45 pm

Re: What's Your Credit Card Rewards Strategy?

Post by MrBeaver »

Tingting1013 wrote: Mon Jul 05, 2021 10:34 am [quote=MrBeaver post_id=6102587 time=<a href="tel:1625498846">1625498846</a> user_id=127032]
[quote=Tingting1013 post_id=6102183 time=<a href="tel:1625465925">1625465925</a> user_id=164928]
[quote=JBTX post_id=6102176 time=<a href="tel:1625465354">1625465354</a> user_id=123440]
[quote=Tingting1013 post_id=6102171 time=<a href="tel:1625464747">1625464747</a> user_id=164928]
[quote=JBTX post_id=6102106 time=<a href="tel:1625458547">1625458547</a> user_id=123440]


So you have to spend $1500 a month on gas, groceries and restaurants to get the 10%? Is it only on purchases over $1500 a month, or at dollar $1500 do you get $150 credit?
You have to spend at least $1500 in one month to get anything. Really separates the boys from the men...
[/quote]

You may get the 10%, per month, for 3 months if you exceed the monthly threshold, but there is a $10000 limit on the base 5%, 3%, 2% benefit. While it seems possible to use this to your benefit, you really have to track it. I may look at it further but I'm not seeing the net positive given the hoops. The base benefits aren't spectacular and I mostly get them on other cards.
[/quote]

Forget the base benefits, what other card is paying out 10% on gas/grocery/restaurants for Q3?
[/quote]

How do rewards get redeemed from the Sears SYW card?

I’ve seen some places suggesting they can only be used in a particular list of sores (Sears, Kmart, Lands End, other?) and places that claim they can be redeemed as Citi ThankYou points, which seem more flexible.

I wouldn’t want to jump to this card if the rewards are hard to use.
[/quote]

A few posts back I gave the link to the gift card store to redeem SYW points.

A few of the more useful ones:
American Airlines
Uber
DoorDash
Hotels.com
Instacart
WalMart

But to be clear, SYW points are the sideshow here. The card is all about the straight cash rebates which are paid in statement credits, not points.
[/quote]

Ah, ok. So the SYW points are a loyalty program on top of statement credit / cash rebates for the 5% gas / 3% groceries / restaurant, and various bonuses offered by email?
Tingting1013
Posts: 1594
Joined: Mon Aug 24, 2020 5:44 pm

Re: What's Your Credit Card Rewards Strategy?

Post by Tingting1013 »

The SYW points are the 5/3/1.

The email bonus statement credits are on top.
tj
Posts: 4666
Joined: Thu Dec 24, 2009 12:10 am

Re: Favorite Credit Cards

Post by tj »

Tingting1013 wrote: Mon Jul 05, 2021 12:59 am
JBTX wrote: Sun Jul 04, 2021 11:15 pm
Tingting1013 wrote: Sat Jul 03, 2021 12:18 pm
Tingting1013 wrote: Wed Jun 02, 2021 7:22 pm
Jags4186 wrote: Wed Jun 02, 2021 7:00 pm

Is this card available to sign up for/can you provide a link? I always see the incredible offers they have and want to get in on it, but there are so many Sears cards and its not always easy to figure out which one you’re applying for.
https://www.shopyourway.com/mp/app/19375/l/card

The bonus offers I’ve mentioned are not publicized, but rather are emailed to you to activate at the beginning of every month. Here is a blogger who gets it:

https://themoneyninja.com/shop-your-way ... Store_Card
Current promotion on the SYW card is a doozy:

For total eligible gas station, grocery store and restaurant purchases of $1,500 or more made each month from 7/1/2021 (or the date you activate this offer, whichever is later) through 9/30/2021, you’ll earn 10% back in statement credits (up to a maximum total of $200 in statement credit(s) each month for this offer).
So you have to spend $1500 a month on gas, groceries and restaurants to get the 10%? Is it only on purchases over $1500 a month, or at dollar $1500 do you get $150 credit?
You have to spend at least $1500 in one month to get anything. Really separates the boys from the men...
That kills the deal for me, lol.
Tingting1013
Posts: 1594
Joined: Mon Aug 24, 2020 5:44 pm

Re: Favorite Credit Cards

Post by Tingting1013 »

tj wrote: Mon Jul 05, 2021 1:06 pm
Tingting1013 wrote: Mon Jul 05, 2021 12:59 am
JBTX wrote: Sun Jul 04, 2021 11:15 pm
Tingting1013 wrote: Sat Jul 03, 2021 12:18 pm
Tingting1013 wrote: Wed Jun 02, 2021 7:22 pm

https://www.shopyourway.com/mp/app/19375/l/card

The bonus offers I’ve mentioned are not publicized, but rather are emailed to you to activate at the beginning of every month. Here is a blogger who gets it:

https://themoneyninja.com/shop-your-way ... Store_Card
Current promotion on the SYW card is a doozy:

For total eligible gas station, grocery store and restaurant purchases of $1,500 or more made each month from 7/1/2021 (or the date you activate this offer, whichever is later) through 9/30/2021, you’ll earn 10% back in statement credits (up to a maximum total of $200 in statement credit(s) each month for this offer).
So you have to spend $1500 a month on gas, groceries and restaurants to get the 10%? Is it only on purchases over $1500 a month, or at dollar $1500 do you get $150 credit?
You have to spend at least $1500 in one month to get anything. Really separates the boys from the men...
That kills the deal for me, lol.
It did for me as well, until I happened to walk by the gift card rack at my local grocery store and noticed the Amazon gift cards with no purchase fee…
tj
Posts: 4666
Joined: Thu Dec 24, 2009 12:10 am

Re: Favorite Credit Cards

Post by tj »

Tingting1013 wrote: Mon Jul 05, 2021 1:08 pm
tj wrote: Mon Jul 05, 2021 1:06 pm
Tingting1013 wrote: Mon Jul 05, 2021 12:59 am
JBTX wrote: Sun Jul 04, 2021 11:15 pm
Tingting1013 wrote: Sat Jul 03, 2021 12:18 pm

Current promotion on the SYW card is a doozy:

For total eligible gas station, grocery store and restaurant purchases of $1,500 or more made each month from 7/1/2021 (or the date you activate this offer, whichever is later) through 9/30/2021, you’ll earn 10% back in statement credits (up to a maximum total of $200 in statement credit(s) each month for this offer).
So you have to spend $1500 a month on gas, groceries and restaurants to get the 10%? Is it only on purchases over $1500 a month, or at dollar $1500 do you get $150 credit?
You have to spend at least $1500 in one month to get anything. Really separates the boys from the men...
That kills the deal for me, lol.
It did for me as well, until I happened to walk by the gift card rack at my local grocery store and noticed the Amazon gift cards with no purchase fee…
Still too rich for me, If I buy $4500 of AMZN gift cards in 3 months, that's going to last a long time unless I have some major project that requires items from Amazon.
Tingting1013
Posts: 1594
Joined: Mon Aug 24, 2020 5:44 pm

Re: Favorite Credit Cards

Post by Tingting1013 »

tj wrote: Mon Jul 05, 2021 1:11 pm
Tingting1013 wrote: Mon Jul 05, 2021 1:08 pm
tj wrote: Mon Jul 05, 2021 1:06 pm
Tingting1013 wrote: Mon Jul 05, 2021 12:59 am
JBTX wrote: Sun Jul 04, 2021 11:15 pm

So you have to spend $1500 a month on gas, groceries and restaurants to get the 10%? Is it only on purchases over $1500 a month, or at dollar $1500 do you get $150 credit?
You have to spend at least $1500 in one month to get anything. Really separates the boys from the men...
That kills the deal for me, lol.
It did for me as well, until I happened to walk by the gift card rack at my local grocery store and noticed the Amazon gift cards with no purchase fee…
Still too rich for me, If I buy $4500 of AMZN gift cards in 3 months, that's going to last a long time unless I have some major project that requires items from Amazon.
You don’t need to buy $4500 in AMZN gift cards unless you literally have no gas/grocery/restaurant spend.
arsenal_fan
Posts: 69
Joined: Tue Nov 17, 2015 8:57 pm

Re: Favorite Credit Cards

Post by arsenal_fan »

tj wrote: Mon Jul 05, 2021 1:11 pm
Tingting1013 wrote: Mon Jul 05, 2021 1:08 pm
tj wrote: Mon Jul 05, 2021 1:06 pm
Tingting1013 wrote: Mon Jul 05, 2021 12:59 am
JBTX wrote: Sun Jul 04, 2021 11:15 pm

So you have to spend $1500 a month on gas, groceries and restaurants to get the 10%? Is it only on purchases over $1500 a month, or at dollar $1500 do you get $150 credit?
You have to spend at least $1500 in one month to get anything. Really separates the boys from the men...
That kills the deal for me, lol.
It did for me as well, until I happened to walk by the gift card rack at my local grocery store and noticed the Amazon gift cards with no purchase fee…
Still too rich for me, If I buy $4500 of AMZN gift cards in 3 months, that's going to last a long time unless I have some major project that requires items from Amazon.
Depends where you shop but you can get a variable amount prepaid visa card with a $6 one-time fee to pay off auto insurance etc. I have the Best Buy Citi Visa that has similar offers (though far worse than Sears), with the current offer being 8% back in points on groceries up to a $25 max in rewards. I just stock up on ~$300 visa cards whenever these come around with a worst case 6% back in rewards. Some groceries also run some kind of deal where the fee is effectively zeroed out.

As for the Sears card, does anyone know how inquiry/account sensitive they/Citi are when it comes to the card? I am like lol/12 right now but will get to 0/6 and 2/12 in mid-October.
Barefootgirl
Posts: 2396
Joined: Tue Oct 06, 2009 7:05 pm

Re: What's Your Credit Card Rewards Strategy?

Post by Barefootgirl »

BOA introduces new cashback card. Appears to be a solid offering and no annual fee. Seems many here already use BOA for every day spend?

Thoughts?

https://www.doctorofcredit.com/bank-of- ... nnual-fee/
How many retired people does it take to screw in a lightbulb? Only one, but he takes all day.
tj
Posts: 4666
Joined: Thu Dec 24, 2009 12:10 am

Re: What's Your Credit Card Rewards Strategy?

Post by tj »

Barefootgirl wrote: Tue Jul 20, 2021 4:25 pm BOA introduces new cashback card. Appears to be a solid offering and no annual fee. Seems many here already use BOA for every day spend?

Thoughts?

https://www.doctorofcredit.com/bank-of- ... nnual-fee/
If you don't travel (3% foreign transaction fee), and don't value the annual travel and Global entry credits, this would be a better choice than the Premium Rewards card.
sycamore
Posts: 2484
Joined: Tue May 08, 2018 12:06 pm

Re: What's Your Credit Card Rewards Strategy?

Post by sycamore »

tj wrote: Tue Jul 20, 2021 4:51 pm
Barefootgirl wrote: Tue Jul 20, 2021 4:25 pm BOA introduces new cashback card. Appears to be a solid offering and no annual fee. Seems many here already use BOA for every day spend?

Thoughts?

https://www.doctorofcredit.com/bank-of- ... nnual-fee/
If you don't travel (3% foreign transaction fee), and don't value the annual travel and Global entry credits, this would be a better choice than the Premium Rewards card.
Premium Rewards also earns 2 points per dollar on dining (and travel) spending, so if you eat out a lot the PR card may still be better.
tj
Posts: 4666
Joined: Thu Dec 24, 2009 12:10 am

Re: What's Your Credit Card Rewards Strategy?

Post by tj »

sycamore wrote: Tue Jul 20, 2021 9:13 pm
tj wrote: Tue Jul 20, 2021 4:51 pm
Barefootgirl wrote: Tue Jul 20, 2021 4:25 pm BOA introduces new cashback card. Appears to be a solid offering and no annual fee. Seems many here already use BOA for every day spend?

Thoughts?

https://www.doctorofcredit.com/bank-of- ... nnual-fee/
If you don't travel (3% foreign transaction fee), and don't value the annual travel and Global entry credits, this would be a better choice than the Premium Rewards card.
Premium Rewards also earns 2 points per dollar on dining (and travel) spending, so if you eat out a lot the PR card may still be better.
I have a 5.25% Cash Rewards card for that.
Barefootgirl
Posts: 2396
Joined: Tue Oct 06, 2009 7:05 pm

Re: What's Your Credit Card Rewards Strategy?

Post by Barefootgirl »

I was thinking that if you already have a better card for the travel & dining category, then this new card might be a solid bet for every day (outside of any particular category)

Thanks
How many retired people does it take to screw in a lightbulb? Only one, but he takes all day.
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