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Recommendations on Credit Cards.
Posted on 5/21/14 at 10:00 am
Posted on 5/21/14 at 10:00 am
I currently have a Chase and CitiBank card that I would like to get rid of. I was on CreditKarma earlier and was looking at the age of my accounts and the average is nearly 10 years. Neither have rewards and I am not familiar with the reward stuff too much.
1. What cards do you guys have with good rewards?
2. What are the best interest rates to be had with a reward card since both of mine are at 10.99 now, I don't want to go higher.
3. Most of the reward cards I have looked at have an annual fee, I don't want to get back to annual fees because I'm not a kid anymore.
1. What cards do you guys have with good rewards?
2. What are the best interest rates to be had with a reward card since both of mine are at 10.99 now, I don't want to go higher.
3. Most of the reward cards I have looked at have an annual fee, I don't want to get back to annual fees because I'm not a kid anymore.
11
Posted on 5/21/14 at 10:01 am to Warfarer
(double post)
This post was edited on 5/21/14 at 10:02 am
Posted on 5/21/14 at 10:01 am to Warfarer
Posted on 5/21/14 at 10:03 am to Warfarer
I've been considering opening an airline miles reward card. seems like the most rewarding 
Posted on 5/21/14 at 10:04 am to Warfarer
quote:
I currently have a Chase and CitiBank card that I would like to get rid of.
Do not cancel those cards.
And yes, go read that link and you'll learn a lot. I know I did.
Posted on 5/21/14 at 10:07 am to Warfarer
enormous thread on this on the money board. maybe some of the more knowledgeable guys from there will help you wade through it
quote:it has nothing to do with being a kid, macho man. in fact, i'd say it's probably the opposite; many of the big boy cards and lucrative reward programs will have a fee.
3. Most of the reward cards I have looked at have an annual fee, I don't want to get back to annual fees because I'm not a kid anymore.
Posted on 5/21/14 at 10:07 am to Warfarer
low interest rate cards do not give good rewards.
Posted on 5/21/14 at 10:08 am to Warfarer
You shouldn't worry about interest rates because you shouldn't be carrying a balance. Some of the best rewards cards have annual fees and most of the time it is worth paying it because the rewards far out weigh the annual fee. A lot of cards will also waive the annual fee in the first year. It really depends on what type of rewards you are looking for (cash back, airline miles, hotel points, etc).
Also, do not cancel your oldest cards (they help your credit score the most).
Also, do not cancel your oldest cards (they help your credit score the most).
This post was edited on 5/21/14 at 10:09 am
Posted on 5/21/14 at 10:09 am to Warfarer
Chase slate
Discover it
American Express Blue
All good cards.
Discover it
American Express Blue
All good cards.
Posted on 5/21/14 at 10:13 am to Warfarer
I'm not a pro with credit card knowledge by any means, but I use a basic Capital One card that gives me some sky miles, and a Chase Amazon card. I shop on Amazon a lot, and it gets decent rewards.
Posted on 5/21/14 at 11:09 am to Warfarer
quote:
1. What cards do you guys have with good rewards?
2. What are the best interest rates to be had with a reward card since both of mine are at 10.99 now, I don't want to go higher.
3. Most of the reward cards I have looked at have an annual fee, I don't want to get back to annual fees because I'm not a kid anymore.
These three things don't go together. If you want rewards you won't get the best interest rate. Besides, it's really stupid to carry balances on credit cards. Those balances tend to go up and not down over time.
If you get a rewards card you will have an annual fee but as others have mentioned the rewards can far outweigh the annual fees. I'm taking my wife to Hawaii in November for 70000 total miles. That's the equivalent of two round trips tickets for $700. Flights are $1100+ each round trip from Virginia. That savings alone is worth an annual fee payment to me.
This post was edited on 5/21/14 at 11:10 am
Posted on 5/21/14 at 12:38 pm to Warfarer
Southwest card that gives you 50,000 points.
Wife and I flew to Niagara and stayed 1 night at a hotel on those points. I think it had a $95 annual fee, well worth it.
Hilton card also gave me 50,000 points which is about enough for 1 free night at a nice place, maybe two at a lower tier place. Had no annual fee.
Both cards required i spend i think $1000 dollars before the points were added. I paid daycare for a month instead of with a check and that covered that, canceled the cards after using the points.
I'm going to do it again with both of them in my wife's name.
Wife and I flew to Niagara and stayed 1 night at a hotel on those points. I think it had a $95 annual fee, well worth it.
Hilton card also gave me 50,000 points which is about enough for 1 free night at a nice place, maybe two at a lower tier place. Had no annual fee.
Both cards required i spend i think $1000 dollars before the points were added. I paid daycare for a month instead of with a check and that covered that, canceled the cards after using the points.
I'm going to do it again with both of them in my wife's name.
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