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re: Credit Card Question
Posted on 10/28/26 at 9:17 pm to WM88
Posted on 10/28/26 at 9:17 pm to WM88
We got the Wells Fargo Visa card with unlimited 3% cash back. No categories or restrictions--just $0.03 back for every $1.00 spent. Pay it off monthly, so there's no real cost to me. Every couple of years or so, I apply the accrued funds to that month's statement.
Posted on 10/28/26 at 9:19 pm to shutterspeed
quote:
Sports betting gamblers do.
Are they wealthy?
Posted on 10/28/26 at 9:22 pm to WM88
What’s your monthly spend? The Chase Sapphire Preferred has a $95 annual fee, but is 3% on dining and gas. And it has a 75,000 point bonus after $5,000 spend in the first 3 months.
It was 100,000 a few months ago, but I didn’t qualify since I used to have that card.
It was 100,000 a few months ago, but I didn’t qualify since I used to have that card.
Posted on 10/28/26 at 9:24 pm to Keith13
quote:
No wealthy person ever became that way off credit card perks
Knew the guy who was cardholder ~ #3 for American Express. He lived near and was pals with top dude living in a NYC bedroom community. Had the basic card till he died maybe 20 years ago.
Not sure of rewards or perks, but having the most basic card, he never drew attention to himself by the card he chose. Never got ID thefts as far as I know. Pretty smart dude in my view.
Posted on 10/28/26 at 9:33 pm to UltimaParadox
quote:
Costco card with no annual fee is pretty solid as well 5% Costco gas 4% any gas 3% restaurants and travel 2% Costco purchases 1% anything else
This plus AMEX blue cash everyday (no annual fee)
-3% cash back at grocery stores
-3% cash back online shopping (including amazon and walmart)
This post was edited on 10/28/26 at 9:34 pm
Posted on 10/28/26 at 9:51 pm to Obtuse1
quote:Seconded.
If you spend money online regularly, consider getting a Capital One shopping account.
I don’t shop around for shite, like shoes or clothing. I usually just go to the manufacturer’s website and buy there. (Example) New Balance will run a brief 10X “Points” bonus going on any purchase made directly from them with a qualifying Capital One Card. That is the equivalent of a 10% discount.
I’ve got a AMEX Bonvoy card (it used to be called a Starwood card) that I’ve been using for business travel. I’ve got a shitload of points there.
Whatever you do, concentrate it on only one or two cards.
(Full disclosure, I’ve also got a AMEX Platinum simply because I can. 43 perfect years on my account with AMEX. Other than it paying for my Clear membership, I don’t maximize the use of it. It’s fiscally indefensible, I don’t care, I probably only use it less than 10 times per year)
Posted on 10/28/26 at 10:00 pm to WM88
quote:
I think something like Chase Freedom may be something like what I need.
Wells Fargo active cash visa is 2% back on all categories. Citi double cash also does 2% back unlimited on all categories.
Lot of cards offer more back but it is only select categories like grocery or travel and some have limits on how much cash back you can get. The cards I mentioned are unlimited so you if you are self employed you can use them for business expenses and rack up some big rewards.
Edit: That chase card you mentioned may pay 5% back on rotating categories but it has a $1500 limit on cash back.
This post was edited on 10/28/26 at 10:03 pm
Posted on 10/28/26 at 10:12 pm to WM88
quote:no. Like legit cash back. You get a % on what you pause the card on. You do not get a gift card, you accumulate “cash” that you can use to go towards your statement or you can have it credited to your bank account.
Is cash back just another term for reward points?
My card gives 1%, unlimited, on everything, and each quarter 5%, up to a certain amount, on assigned things for that quarter. Can be Amazon purchases, gas, grocery, sporting good store, etc etc etc.
This post was edited on 10/28/26 at 10:13 pm
Posted on 10/29/26 at 1:05 am to UltimaParadox
Was speaking about credit cards
Rewards VS Cash Back
Take the cash, hell with the rewards
Posted on 10/29/26 at 1:12 am to WM88
I like my Amex blue preferred cash card 6% cash back on streaming services and groceries 3% on about everything else. I killed my platinum when I got this one much better option for me. I also put everything on it and pay it off monthly.
Posted on 10/29/26 at 4:52 am to Cheese Grits
quote:
I think my interest rate from then was locked in at 3 to 6 percent (which is why they want customers to swap out). Now I think that rate is more like 9 to 12 percent. Dropped mine around start of c19 (like I need a credit card at my age).
Dad?
Good lord, as much as my dad has watched me fly business class all around the world and stay in 5 star luxury resorts on points he still has this old mentality like you do. Let's try typing it slowly:
-Pay off the statement balance every month. That makes it....THE SAME AS PAYING CASH!
-Earn points or cash back, whatever suits your fancy. For me it's all about points because we travel a ton.
-Make sure to sign up for all benefits the cards offer. AMEX has tons of stuff you have to enroll in.
-Use your card(s) for everything. It's not difficult. If an establishment charges a fee for a card, then you can pay your wadded up cash if you want.
-Did I mention to pay the statement balance in full each month thereby eliminating any interest rate, whatever the hell it is.
-?
-Profit
Posted on 10/29/26 at 5:32 am to WM88
I do what you do. I have the Wells Fargo Visa card. 2% back on everything.
Posted on 10/29/26 at 5:51 am to WM88
quote:
I think something like Chase Freedom may be something like what I need.
While I despise Chase, I do use their Chase Freedom Unlimited credit card because it is one of the few credit cards that offers extended warranty protection.
So every purchase I make that is of any value gets made using this credit card to ensure I am protected even after the original manufacturer's warranty expires.
Posted on 10/29/26 at 7:21 am to Keith13
quote:
No wealthy person ever became that way off credit card perks
Become wealthy off card perks? Absolutely not.
Be wise enough to maximize the perks and cash flow advantages of utilizing the correct card. Absolutely.
Posted on 10/29/26 at 7:21 am to WM88
For everything
Citi Double Cash 1% on everything spent, 1% on everything paid. Unlimited
For meals and entertainment
Capital One Savor 3% on meals and entertainment (some grocery stores too) Unlimited. Only hitch is Capital One doesn't do direct deposit into your bank for rewards, only check or put the money back on the card.
Citi Double Cash 1% on everything spent, 1% on everything paid. Unlimited
For meals and entertainment
Capital One Savor 3% on meals and entertainment (some grocery stores too) Unlimited. Only hitch is Capital One doesn't do direct deposit into your bank for rewards, only check or put the money back on the card.
Posted on 10/29/26 at 10:46 am to LSUGUMBO
quote:
What’s your monthly spend?
800-1200 per month. I wouldn't hit 5k spend in 3 months.
Posted on 10/29/26 at 10:50 am to FCP
quote:
We got the Wells Fargo Visa card with unlimited 3% cash back. No categories or restrictions--just $0.03 back for every $1.00 spent. Pay it off monthly, so there's no real cost to me. Every couple of years or so, I apply the accrued funds to that month's statement.
Really curious about this one. None of the one listed on their website indicate a flat 3% cash back, unlimited, and no categories.
What's the story on this? Was this an older offering?
Posted on 10/29/26 at 10:52 am to UltimaParadox
quote:
Cash is leaving a lot of money on the table. Majority of business factor in the cost of the transaction fees into the price. Very little places to cash discount.
You are generally at a disadvantage paying cash. Not even factoring in the hassle of carrying cash.
If you are paying it off every month, card is king
they are talking about credit cards and the decision is either rewards or straight cash back.
They are not talking about paying with actual cash.
Posted on 10/29/26 at 11:30 am to WM88
Thanks All.
Looks like the WF 2% card is the one for me.
Simple, straight forward, simple reward structure.
Looks like the WF 2% card is the one for me.
Simple, straight forward, simple reward structure.
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