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Message
re: best credit card for rewards/points?
Posted on 9/28/16 at 9:04 am to Rohan
Posted on 9/28/16 at 9:04 am to Rohan
Chase Sapphire Preferred has an amazing sign up bonus ($625 in travel), has an annual fee but it is waived the first year.
Chase Hyatt has a great sign up bonus of 2 free nights at ANY Hyatt, but after that I don't know if it is worth it. Annual fee also waived first year.
Chase Freedom Unlimited is good for cash back, 1.5% and a good signup bonus ($150 after you spend $500)
Honestly I've figured out all the sign up bonuses but as far as every day spending, I'm still not sure. Some cards have rotating categories that give 5% but that's kind of a PITA to keep up with. I never think "oh groceries! Let's use Discover for 5% this month". It's just not worth it.
Right now I'm trying to meet initial spend on Chase Sapphire Preferred so that's my go to card.
If I'm buying something that I don't want to actually have to pay for right now (new furniture), then I use Freedom Unlimited because it has 0% APR until sometime next fall.
I'll probably use Sapphire until the annual fee comes due, then I'll cancel it. And then maybe stick with Freedom or go back to Capital One.
Chase Hyatt has a great sign up bonus of 2 free nights at ANY Hyatt, but after that I don't know if it is worth it. Annual fee also waived first year.
Chase Freedom Unlimited is good for cash back, 1.5% and a good signup bonus ($150 after you spend $500)
Honestly I've figured out all the sign up bonuses but as far as every day spending, I'm still not sure. Some cards have rotating categories that give 5% but that's kind of a PITA to keep up with. I never think "oh groceries! Let's use Discover for 5% this month". It's just not worth it.
Right now I'm trying to meet initial spend on Chase Sapphire Preferred so that's my go to card.
If I'm buying something that I don't want to actually have to pay for right now (new furniture), then I use Freedom Unlimited because it has 0% APR until sometime next fall.
I'll probably use Sapphire until the annual fee comes due, then I'll cancel it. And then maybe stick with Freedom or go back to Capital One.
0
Posted on 9/28/16 at 9:12 am to Rohan
Chase Sapphire Reserve is the best card around right now.
Posted on 9/28/16 at 9:22 am to pjab
quote:
Chase Sapphire Reserve is the best card around right now.
This is the correct answer end of discussion. Go check out the mega thread on the Money Board for reasons why.
Posted on 9/28/16 at 9:26 am to Scooba
quote:
My Chase Amazon card has 2% rewards with no fee.
Did they recently change this? I have the same card and get 2% gas and groceries, 3% ordering off amazon, and 1% for everything else.
Posted on 9/28/16 at 9:49 am to Big Saint
I'm a complete idiot when it comes to this stuff. If you are paying off the balance every month are there still interest charges? And if so, wouldn't an Amex be better for that?
Posted on 9/28/16 at 10:28 am to Rohan
quote:
If you are paying off the balance every month are there still interest charges?
No.
There are hundreds of cards out there. Decide first if you want:
a rewards card (You plan to pay 100% of it off monthly)
or
a low interest card (You carry a balance month to month and pay the minimum plus interest) usually no rewards.
As for rewards cards, choose one that offers rewards that you prefer whether it be airline miles, cash back, or discounts/credits at your favorite stores/travel.
Be cautious of annual fees. Some cards have $100-200+ in annual fees and if you don't spend enough to get that plus more in rewards then that card is not best for you.
Posted on 9/28/16 at 10:39 am to Rohan
quote:
I'm a complete idiot when it comes to this stuff. If you are paying off the balance every month are there still interest charges? And if so, wouldn't an Amex be better for that?
Nope you get charged interest on any amount you don't pay of your end of period balance. If that balance is paid in full each billing cycle then there is nothing remaining to incur interest charges on.
Posted on 9/28/16 at 10:46 am to Rohan
You only have to pay off the statement balance before or by the due date to avoid interest charges.
Posted on 9/28/16 at 11:06 am to Rohan
quote:
wouldn't an Amex be better for that?
I have an Amex platinum as well as the chase preferred and reserve. The platinum is a second class product by comparison. Higher fee, less valuable points, more stringent travel credit redemption, and customer service isn't in the same league. Maybe if you fly delta alot, the Amex works better, but otherwise the chase cards are way to go. If you can get approved for the reserve, get that. If not, get the preferred. You can leverage the freedom unlimited to help with points too.
It's an addicting game once you learn the rules.
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