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Rewards Cards (Credit Cards)

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matt_thatsme

matt_thatsme

Ain’t nobody got time for that
I have always been anti-credit card. I have never owned a credit card. However, with the multitude of rewards cards being offered and some of the great offers being made, I am starting to reconsider my view of credit cards. It doesn't make much sense to use a debit card to purchase items that I would otherwise be getting cash back on if I were using a rewards card. Of course, paying the balance every month is imperative, but for the purpose of this discussion, let's assume that the balance will be paid each month or by the end of the promotional period if applicable.

I know that there is likely not a best rewards card across the board for anyone and everyone, but I would like to get some input from some folks on there experiences, recommendations, etc.

So, for those of you who are proponents of rewards cards, what is the best approach for determining the "best card for me." Any recommendation on cards, articles on cards, comparisons, etc.
 
Yeah, I don't travel a lot and when I do it is usually for business so the firm is footing the bill. I would primarily be interested in cash rewards. There are so many factors that goes into selecting a card. That is why I am looking for experiences from others.
 
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I have a citi card that I get a $100 gift card about 3 times a year. I pay it off every month

I keep getting offers for 21months 0% apr with rewards as well. I'll probably cancel the former and sign up for the ladder
 
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matt_thatsme;2038595; said:
Yeah, I don't travel a lot and when I do it is usually for business so the firm is footing the bill. I would primarily be interested in cash rewards. There are so many factors that goes into selecting a card. That is why I am looking for experiences from others.
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I use a Discover card for everything.
 
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If I were a little more financially secure (student loans, blah...), I would be jumping on the Southwest cards if they have ones with no annual fee. As it stands right now, my Capital One card that I got my freshman year of college to help me start building my credit rating is now getting me basically 1 point for every dollar I spend. Obviously not a great reward plan by any accounts, especially since my average monthly spending is only $400 unless I have a flight on there (monthly limit is up to $1,750). But still, I've gotten two free books and change in Amazon gift cards over the last few years through rewards. That's good enough for me at the moment.

I do fly more often recently, so I would appreciate getting more rewards since I always fly Southwest, but I really don't need another card on my credit history/rating right now.
 
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I have an Amex that earns Starwood Hotels reward points that can also be used for air travel on any airline with no blackouts, I believe it wins whatever the award is for best rewards card nearly every year. I also have a Chase Sapphire Visa card that I use anywhere that doesnt take Amex. I use my cards for everthing I do, groceries, gas, food, etc. I never use cash unless I have too. I pay all my bills with them and pay both of them off at the end of each month. They give me an itemized statement that is separated between me and my wife so I can track all my spending and expenses for work and as a bonus there are never any issues balancing the checkbook. I have not paid for an airline ticket or hotel room in over 12 years for me or anyone in my family. If you are able to pay them off every month its like getting free money from the card companies.
 
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I have Fidelity Investment American Express & Visa cards. The AmEx card gives 2% back in the form of Fidelity deposits, and the Visa 1.5%, so my wife and I use the AmEx for everything we can, and the Visa as a backup. As long as you are paying it off each month, it's a great way to stash away your rewards for the future. The reward % is great compared to most cards.
 
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MaxBuck;2038717; said:
Just curious - why are you "anti credit card?"
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I have seen so many people make poor financial decisions with credit cards. I now realize that a credit card can be a financial asset if the person using it has the maturity and intelligence to not overspend and to make the monthly payment. I talked to a guy a little while ago at the golf course, an older gentleman, who owns a mid-sized company. He has been using multiple rewards cards for years. He stated that he made $19k in rewards last year. Of course he spends exponentially more money per year than I do; however, it got me thinking. I would say that I WAS anti-credit card and now I am open minded about it.
 
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Exactly, if you have a CC you have to be responsible enough to be aware of how much you spend. I use my CC to pay my utilities, gas, food, etc (essential stuff). It's just like cash for that stuff IMO. Why not take advantage of it if you have to pay for that stuff anyways? But again, that's only if you are smart enough to max out the card, and make payments. In fact my Citi card drops my APR because I don't miss payment, and I get bonus points for paying it off every month
 
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I never pay cash if I can use a credit card. And I pay all of them in full, every month. Every one I own pays me back rebates of from 1% to 5% depending upon the purchase. Plus they all extend the warranties of the products I buy. I use them to pay vendors and subcontractors, too.

It's pretty much a no-brainer to do things this way if your credit will allow it.
 
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Bucklion;2038980; said:
If you handle them responsibly it helps your credit score when you want loans for cars and houses too.
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This. Wife and I just bought a house, and allowed for a crazy low interest rate because of my credit (which happens to be excellent) and I just graduated school a year and a half ago. Its amazing how it helped me get the house, and will help this spring with purchasing a car
 
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