Puffoluffagus LSU Fan New Orleans Member since Feb 2009 2213 posts
re: Best type of credit card for young professionals? (Posted on 11/7/12 at 9:16 pm to bryso)
quote: Does the citi forward offer 5% on anythig from amazon or just books? That prob where I purchase the most crap.
Pretty much 5x on everything. ... There are some exceptions and it usually involves some items that are sold through third party sellers that are coded in a different manner.
yeah, I've read about people doing the whole buying gift-cards at groceries thing with amex. Nifty, not surprised that the loop hole was limited. If you ever follow sites like flyertalk or fatwallet long enough, you'll see all the nifty little tricks. I remember back when people used to be able to order the coins from the mint with a CC and then just go and deposit them in the bank and pay off the statement. Basically loads of points for free. That was closed a while back.
There used to be a work-around for citi forward/Thank you reward system. Student loan rebates used to (may still have) the highest points/cash ratio, so basically you were getting as close to the 5% as you were going to get. People even without student loans, were able to take the student loan rebate checks and cash them at their bank straight into their bank accounts. Much higher return than just the credits to your statement.
re: Best type of credit card for young professionals? (Posted on 11/7/12 at 10:24 pm to LSUlunatic)
quote: I'm looking to get my first credit card and don't really know what I should be looking for. I've read good things about a few cards (CapOne Venture Rewards, Chase Sapphire Preferred, AmEx Blue Cash, and AmEx Preferred Cash Rewards), but I don't really know how to evaluate them.
Any help is appreciated.
As others have said it's best to look at where you spend most of your money and go over the different cards that will maximize your rewards. I can tell you for everything else that falls in the 1% category use the American Express Fidelity or Priceline Visa 2% cash back card. This automatically doubles your cash back on anything you would have only earned 1% on.