What is the best rewards card right now?

[txpharmguy]

I use the Capital One Quicksilver card. As mentioned before, 1.5% cash back, no limits, no annual fee. I just use my rewards points as a statement credit. It's applied for every $100 earned ($6677 spent). I pay my card off in full every month and try to put as many bills on there as I can. I generally put about $3-4k per month, so I get about $500 per year or so in rewards. It's not convenient for me to try and maximize rewards through various cards. If it works for you, than that's just great

---

Members don't see this ad.

 

[Momus]

I use the Capital One Quicksilver card. As mentioned before, 1.5% cash back, no limits, no annual fee. I just use my rewards points as a statement credit. It's applied for every $100 earned ($6677 spent). I pay my card off in full every month and try to put as many bills on there as I can. I generally put about $3-4k per month, so I get about $500 per year or so in rewards. It's not convenient for me to try and maximize rewards through various cards. If it works for you, than that's just great

That's a lot of spending a month $4k? >_>;

 

[txpharmguy]

Kids in sports, phone bill, cable bill, gas, groceries, eating out, entertainment, etc, in can add up fast. If it were just me, it'd be much less. I don't need much

That's a lot of spending a month $4k? >_>;

 

[WVUPharm2007]

That's a lot of spending a month $4k? >_>;

I spent an average of $4k a month last year. Everything goes on it except for the Mortgage and student loan. All the bills, had a new French drain and sump pump system put in my basement, all travel, entertainment, food (except Aldi and Costco because they don't accept Visa), lawncare service, etc.

 

[trailerpark]

I hate I don't live near an Aldis anymore. I would always get my fruits & veggies there.

 

[BenJammin]

I applied and got the lowest internet rate. What's your credit score? Missed payments?

Never missed a payment in my life. It says my Experian credit score is 640 but I guess my credit isn't very old.

 

[confettiflyer]

Never missed a payment in my life. It says my Experian credit score is 640 but I guess my credit isn't very old.

Da fuq, what's your utilization and age of oldest account?

 

[BenJammin]

Da fuq, what's your utilization and age of oldest account?

Two years old. My credit limit was originally set at $5,000 and I have never had a balance over $2,500.

 

[Ackj]

Two years old. My credit limit was originally set at $5,000 and I have never had a balance over $2,500.

That's the reason then, short history is hurting you. Not that you have anything "bad", it's just that you haven't had a long history of "good." The longer you hold that account, the better your score will be. Thankfully that's a pretty simple thing to do, just don't cancel that card even if you do get another one.

 

[confettiflyer]

Two years old. My credit limit was originally set at $5,000 and I have never had a balance over $2,500.

Yeah the two year thing will do it, and 50% utilization isn't gonna help on those months you do have a ~$2500 balance.

You might have to start with minimal/non-rewards starter cards to build up credit, unfortunately. Try cards that are easy to get but at least have some cash back/discount associated with them (gas and store cards, Target, etc...)

Anyone know if CC companies still have student-oriented cards with rewards attached to them? I remember Amex had one (Blue for Students), that earned points.

 

[Momus]

Two years old. My credit limit was originally set at $5,000 and I have never had a balance over $2,500.

Keep increasing your credit limit so your utilization ratio drop. Open more cards, charge small balance to keep them open. All my cards has a credit limit around 20k. But I never charge more than 10% of that in a single card/month. Equifax scored me at 801 right before I got a home mortgage.

Also sign up to get free credit score @ creditkarma.com, it has great tips for novice how to improve credit score.

 

[PharmerC]

I applied for the Chase amazon card and got denied. What the hell?

Always call the recon line for Chase cards to try to get reconsidered. I guarantee they denied you due to short history, but will most likely approve on recon if you have no derogatory info in your credit report and your income is high. Expect a small starting limit though.

 

[trailerpark]

Can you also call and ask for interest rate reduction? I'm guessing it never works. My chase slate is 7.99% but I'd like it lower.

Although, I did realize that the new advertisements for chase slate have the lowest interest rate of like 10.99% or something sinilar. Were interest rates a lot lower like 5 years ago or something? That kind of confused me.

 

[njac]

Two years old. My credit limit was originally set at $5,000 and I have never had a balance over $2,500.

What's your car situation?

One of the best things I did for my credit in my 20s was buy a car, with a loan, and pay it off.

They like seeing that you were able to pay off an entire balance over time.

 

[BenJammin]

What's your car situation?

One of the best things I did for my credit in my 20s was buy a car, with a loan, and pay it off.

They like seeing that you were able to pay off an entire balance over time.

Already have one and bought it with cash.

 

[njac]

Already have one and bought it with cash.

Too bad. Even if you pay off the loan in a very short period of time you still earn credit on it.

Did someone advise you to pay cash or was it your idea?

 

[All4MyDaughter]

Too bad. Even if you pay off the loan in a very short period of time you still earn credit on it.

Did someone advise you to pay cash or was it your idea?

You sometimes get better deals on price with financing because they make money on the loan as well.

For my last car purchase, we financed and then paid it off after about six months. But credit score isn't an issue for us anyway.

 

[confettiflyer]

You sometimes get better deals on price with financing because they make money on the loan as well.

For my last car purchase, we financed and then paid it off after about six months. But credit score isn't an issue for us anyway.

This. Then you pay it off...or you take that 1.99% APR and let it ride because that's almost like borrowing money for better than free with inflation.

But most people don't take their savings from a car loan and invest it. But anyway...

 

[pezdispenser]

Saw a new one called Citi Double Cash: www.citicards.com/DoubleCash

2% cashback. No annual fee

 

[Momus]

Saw a new one called Citi Double Cash: www.citicards.com/DoubleCash

2% cashback. No annual fee

I am converting my oldest card and highest limit card 20k. Been charging 1 cent every month just to keep this one active. At least I can convert my 1% cash back Citi dividend to 2% cash back. They said conversion program is not available now. Will be available on Sept 7. Calling back later.

 

[Momus]

Did the conversion to 2% Double Cash back from Citi. Keeping this one forever and charging 1 cent every month to keep it alive, my oldest card.

Now, I found this... best reward ever O_O! In for one. Will probably retire my AMEX card (3% back groceries) with this one. I don't know if they will approve someone who has no student loan tho... will report back later. Hope I can get it. Most of my spending is on gas, groceries, and Amazon.com (coded as book store). This will be the perfect card for that.
Sallie Mae MasterCard®
If you have student loans, the Sallie Mae MasterCard might be the right card for you. Not only does it offer cash back rewards, but it also allows you to use those rewards to pay down your eligible Sallie Mae student loans.1

Here’s how you earn cash back:

• 5% cash back on the first $250 you spend per month on eligible gas and grocery purchases each and the first $750 you spend per month on eligible book purchases.2
• 1% cash back on every other purchase you make.2
• Earn 2500 bonus points which may be redeemed for a $25 cash back statement credit, just for using your card within 90 days of account opening.3
• No annual fee.

Also this, in for another $200 free: churn and burn, baby! :-D
Chase Freedom Credit Card: Spend $500 in First 3-Months and Earn $200 Cash Back
Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.

$25 BONUS* After you add your first authorized user and make a purchase within your first 3 months from account opening.

Cardmembers earn 5% cash back on up to $1,500 in combined purchases at Amazon.com, Zappos.com, and Select Department Stores. October to December. And unlimited 1% cash back on all other purchases.

 

[Momus]

Update: they don't require student loan!

 

[PumpkinSmasher]

We use the Barclay arrival Elite Mastercard for all purchases, I like keeping it simple and using just one card (except for Costco). Best travel card in my opinion since we are not loyal to one airline, hotel chain or car rental company. They waive the annual fee the first year an then it is $89/yr. Not a bad deal considering, we end up redeeming >$1000 from the card each year.

They also give you $400 to spend on travel related purchases when you spend $3,000 in the first 3 months, no foreign transaction fees, chip card and points never expire.
http://www.barclaycardarrival.com/arrival-plus/

 

[Momus]

We use the Barclay arrival Elite Mastercard for all purchases, I like keeping it simple and using just one card (except for Costco). Best travel card in my opinion since we are not loyal to one airline, hotel chain or car rental company. They waive the annual fee the first year an then it is $89/yr. Not a bad deal considering, we end up redeeming >$1000 from the card each year.

They also give you $400 to spend on travel related purchases when you spend $3,000 in the first 3 months, no foreign transaction fees, chip card and points never expire.
http://www.barclaycardarrival.com/arrival-plus/

I have that card. Great reward 2.22% cash back on everything. Hate the annual fee tho.
I only need 2 more categories covered 5% back: restaurant and travel with no annual fee. Where can I find one with a fixed (non rotating card) so I can drop the Barclays Arrival one -_-; ?

 

[Momus]

I did NOT want a big ass credit line for this one. When I applied I dropped my annual income to half for this one because I know I will be cancelling it immediately after getting $200 + $25 reward. This card just becomes the highest limit card I own after first approval...? Why Chase, why? Easy lending standard is back again?

 

[zelman]

Saw a new one called Citi Double Cash: www.citicards.com/DoubleCash

2% cashback. No annual fee

It's not actually 2% cashback because when you get a statement credit for your cashback balance, that does not generate cashback.

For example:
month 1: spend $100 (earn $1) and pay it all off (earn $1) --> total $2 in cashback
month 2: spend $2 (earn $0.02) and use cashback to pay it off (earn nothing)
total $2.02 in cashback on $102 in purchases = 1.98% cashback

It's close enough that I wouldn't really care about the discrepancy right now, but it's important to be aware of in case an actual 2% card comes to market.

 

[BenJammin]

I still can't get a credit card so I've written them off. Looks like I'll be operating from straight cash.

 

[Momus]

I still can't get a credit card so I've written them off. Looks like I'll be operating from straight cash.

That's weird; I'd investigate since you can't get a good rate on a mortgage if your credit score is bad. Check your report at Creditkarma.com. Someone is trying to mess up your credit score? I applied for a card 3 months after turning 18 from 0 history. You should be able to get a cc. I am guessing you need at stellar credit score for these cards we mentioned though. If it's bad, try to open a secured/prepaid credit card and build your history.

 

[Ackj]

Just got an email from Bank of America for their Bank Americard. 3% back on gas, 2% back on groceries, 1% on everything else, plus a 10% bonus on the rewards when redeemed into a BoA checking/savings account. Plus offering $100 bonus if I spend $500 over first 90 days.

 

[Momus]

Just got an email from Bank of America for their Bank Americard. 3% back on gas, 2% back on groceries, 1% on everything else, plus a 10% bonus on the rewards when redeemed into a BoA checking/savings account. Plus offering $100 bonus if I spend $500 over first 90 days.

I closed that cc and opened their better balance card. Then, I charge 1 cent every month and they credit me $25 + 5 (with bank account) every quarter X 4 = $120 free just spending 12 cent a year lol...

I get:
5% on gas, groceries, book/Amazon with my Sallie Mae card Barclays Mastercard.
5% on winter/Christmas with online shopping/dept stores with Discover or Chase Freedom Card.
3% on drugs store/restaurants/fast food with Amazon Chase credit card.
2.2% on everything else with Barclays Arrival World Mastercard.

I also abused Discover policy -_-; I'd fill $1.99 worth of gas/or whatever if I don't have anything to buy, and then they will reimburse me fully as long as it is below $2/month... That's $24/year free money >_>;

 

[Momus]

This is pretty pathetic. You make >100K. Lol

Nothing beats free.

 

[Pharmacy Kid]

I like the Sallie Mae Barclays card. 5% on $250 groceries and gas each. 5% on $750 for bookstores (products sold directly by Amazon are considered bookstore).

For aesthetics, one of the best looking cards is the Chase Sapphire Preferred. It's got a metal inlay so when you place it on the table it makes a clunk sound.

 

[bacillus1]

Just got Barclays Arrival World Mastercard. No annual fee first year, then $89 a year thereafter. About 2.2% back on everything, to be used for travel, plus they have offers that give more points than that (examples that I found relevant: hotels.com, vitamin shoppe, groupon). If I spend 3000 bucks in the next 3 months, I get 400 bucks back to spend on travel, and 10% of that will come back to me once i spend it (so really $440). Seems like a good deal.

I also have the Chase Amazon card. Pretty good benefits, but not as good as Barclays. We'll see if I keep it when they start charging.

 

[Ackj]

I like the Sallie Mae Barclays card. 5% on $250 groceries and gas each. 5% on $750 for bookstores (products sold directly by Amazon are considered bookstore).

5% on gas, groceries, book/Amazon with my Sallie Mae card Barclays Mastercard.

Looking into this, and the "reward details" say you get 5 rewards per month for gas, 5 for groceries, etc. Does that mean if I make 10 trips to the grocery store, only my first 5 are getting the 5% reward rate? Want to hear from people who use the card before I pull the trigger.

 

[Momus]

Means 5 points/5% up to 250 for gas, 250 grocery. 750 for amazon/book. Per month.

 

[PolarPop]

Just got Barclays Arrival World Mastercard. No annual fee first year, then $89 a year thereafter. About 2.2% back on everything, to be used for travel, plus they have offers that give more points than that (examples that I found relevant: hotels.com, vitamin shoppe, groupon). If I spend 3000 bucks in the next 3 months, I get 400 bucks back to spend on travel, and 10% of that will come back to me once i spend it (so really $440). Seems like a good deal.

I also have the Chase Amazon card. Pretty good benefits, but not as good as Barclays. We'll see if I keep it when they start charging.

The trip it pro perk is actually really nice too. Whenever I fly I get instant emails when the gate changes and if there are delays and stuff.

 

[bacillus1]

The trip it pro perk is actually really nice too. Whenever I fly I get instant emails when the gate changes and if there are delays and stuff.

And free travel insurance. That just paid for the annual fee by itself (if I had an annual fee this year), as the Vietnam tour I'm planning to go on in May requires travel insurance.

 

[trailerpark]

Does anyone have a online savings account? What's the best rate? Or do you use CD's or do you just leave large chunks of money in your checking account? I'm not sure what to do with non retirement account/stocks money. I guess maybe just what to do with money for an emergency account.

 

[BenJammin]

Does anyone have a online savings account? What's the best rate? Or do you use CD's or do you just leave large chunks of money in your checking account? I'm not sure what to do with non retirement account/stocks money. I guess maybe just what to do with money for an emergency account.
View attachment 194716

My emergency fund is through Ally. I get 1% but it beats the 0.05% I'm getting with my brick and mortar bank.

 

[WVUPharm2007]

I don't even bother with a savings account.

 

[genesis09]

I have a money market account through Vanguard. The sad thing is I was earning more in interest in 2007 than today because interest rates are so low. I had a fraction of the amount in the account in 2007. The interest rate 0.01%.

 

[Old Timer]

After almost 40 years of being an adult. I can't keep track off all the cards I have:

Barclay's Bank Lufthansa Card: I have almost 200K in miles. Planning a trip to Germany in the next year or so. Also, If I buy one ticket my wife goes for free.
G.M. Card: 5% in earnings. Max of $500.00 per year but no limit on redemptions. I have gotten over 10K back on the cars I have purchased. Not bad for stuff I buy every month.
Costco Amex
Macy's Amex
Local Bank Master Card
BOA Master Card (Used to be with Lufthansa, but it has 1 25K line of credit)
Plus a few assorted others I have acquired over the years.

Pay all bills in full each month. My last Phico score was 829. Accumulate as much credit as you can. Keep asking for increases at a reasonable rate/

 

[SClENCE]

Bank Americard - 3% on gas, 2% on groceries, 1% on everything else, no annual fee

This is my first and only card (just got it). I think the Citi double cash back card would probably be better overall and might get it down the road and just use my current one for gas. One of the 5% rotating category cards might be nice to have but after looking at the categories not that attractive. With no annual fee it probably wouldn't hurt to hold one anyways.

 

[pezdispenser]

Does anyone have a online savings account? What's the best rate? Or do you use CD's or do you just leave large chunks of money in your checking account? I'm not sure what to do with non retirement account/stocks money. I guess maybe just what to do with money for an emergency account.
View attachment 194716

I use the Ally Money Market Account which pays a slightly lower 0.85% than the Online Savings Account, but the MMA has a debit card and check book. The ATM card is really just for emergencies and limited to $1,000 cash/day. The check book is just for large purchases like ESPP.

I run my checking account fairly tight with a minimum balance of just $500 by using a spreadsheet which lays out all credits and debits a few months in advance. I rarely use cash. Everything on credit cards, so each one is auto-paid from my checking account only once a month. I have another spreadsheet with all my paychecks, including a formula to work out the taxes so I know how much I'll be taking home ahead of time, and I put that into the checking account spreadsheet as well. (Ask me if interested, and I'll explain the formula). So every 2 weeks when I get paid, I subtract all the debits for the next 2 weeks, and transfer the surplus over $500 to my Ally MMA.

The Ally MMA is basically my emergency fund, and I keep around $10,000. Any surplus over that usually gets invested in Vanguard index funds or ESPP.

 

[trailerpark]

Seems Ally is the best online place for an emergency fund.

 

[CUpharmD2013]

Seems Ally is the best online place for an emergency fund.

Check around your local credit unions. I have one around here that pays 3% up to 15k. I used to have one that paid 5% up to 10k and then 2.5% up to 25k. But that one went by the wayside.

 

[Old Timer]

I still can't get a credit card so I've written them off. Looks like I'll be operating from straight cash.

Go to your bank and ask for a credit card secured by your bank account. Once you use it for a year, you'll get whatever you need.

 

[mgarph]

I've been using Amazon visa and Chase sapphire. Amazon is great for amazon purchases 3%, then 1 on everything else and sapphire is great for dining and travel 2% with 1% on everything else, but I recently just got the citi double cash which is basically 2% and really like it since there are no categories/restrictions

 

[trailerpark]

Not sure about credit unions. My job has one inside the store, but if I ever move it seems like Ally online would be easier to keep.

 

[Ackj]

I use the Ally Money Market Account which pays a slightly lower 0.85% than the Online Savings Account, but the MMA has a debit card and check book. The ATM card is really just for emergencies and limited to $1,000 cash/day. The check book is just for large purchases like ESPP.

I run my checking account fairly tight with a minimum balance of just $500 by using a spreadsheet which lays out all credits and debits a few months in advance. I rarely use cash. Everything on credit cards, so each one is auto-paid from my checking account only once a month. I have another spreadsheet with all my paychecks, including a formula to work out the taxes so I know how much I'll be taking home ahead of time, and I put that into the checking account spreadsheet as well. (Ask me if interested, and I'll explain the formula). So every 2 weeks when I get paid, I subtract all the debits for the next 2 weeks, and transfer the surplus over $500 to my Ally MMA.

The Ally MMA is basically my emergency fund, and I keep around $10,000. Any surplus over that usually gets invested in Vanguard index funds or ESPP.

Why not use the savings account, which is 0.99%, and then if you need it, move it to a checking account? Since it's just sitting there anyway and only for emergencies, why do you need the debit card and checkbook?