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Started By
Message
school me on credit card rewards cards
Posted on 1/30/19 at 2:58 pm
Posted on 1/30/19 at 2:58 pm
SO (no pics) and i going on vacation in a few months and was thinking about picking up a rewards card of some sort to pay for it all and earn a little back (gas, miles, something) vs just paying for it out right with bank card and earning nothing. dumb idea? pros, cons? is it worth doing this, or more trouble than its worth? currently neither of us have any credit cards or credit card debt.
27
Posted on 1/30/19 at 3:00 pm to cajunbuck
quote:
dumb idea?
No.
quote:
pros
Reward points, builds credit.
quote:
cons?
None, if you pay off your card on time.
quote:
is it worth doing this, or more trouble than its worth?
Absolutely worth it.
quote:
currently neither of us have any credit cards or credit card debt.
You can have a credit card (or cards) without having credit card debt.
Posted on 1/30/19 at 3:00 pm to cajunbuck
I pay everything with my credit card to earn rewards and pay it off each month. Credit cards are better to make purchases with because if there's a fraudulent charge your money is still in your account. Not so much with a debit card.
Posted on 1/30/19 at 3:01 pm to cajunbuck
You're not going to pay for it all with a rewards card. Easiest thing to do is just get the Citi 2% card and use that for everything. It gets more complicated when you start trying to use miles and whatnot.
Posted on 1/30/19 at 3:01 pm to cajunbuck
If you're not getting rewards points for your purchases you're doing it wrong. Chase Sapphire is probably the best all around, most flexible. Then get one for the airline that you fly the most from your local hub. Pay them off monthly to avoid interest and enjoy the free vacation.
Posted on 1/30/19 at 3:03 pm to EarlyCuyler3
quote:
You're not going to pay for it all with a rewards card.
i meant pay for our whole vaca with the credit card. i understand what you mean for sure
Posted on 1/30/19 at 3:03 pm to cajunbuck
Capital One Venture Card is one of the best ones you can get. Southwest has a card that’s great at accruing airline miles of you fly domestically a lot.
I have a delta skymilea amex. Pretty solid deals at amassing points on airfare exclusively on delta when I traveled a lot. You get points on all purchases though but the escalators come on delta purchases
I have a delta skymilea amex. Pretty solid deals at amassing points on airfare exclusively on delta when I traveled a lot. You get points on all purchases though but the escalators come on delta purchases
Posted on 1/30/19 at 3:03 pm to cajunbuck
I use credit card for virtually everything. Pay it off every month. (Important)
Then earn the 1.5% or so back and redeem it back to the credit card balance.
It's like free money.
The reason credit card companies can offer this, is that they know a majority of their customers won't pay off the balance in full, thus stick them with high interest costs.
Then earn the 1.5% or so back and redeem it back to the credit card balance.
It's like free money.
The reason credit card companies can offer this, is that they know a majority of their customers won't pay off the balance in full, thus stick them with high interest costs.
Posted on 1/30/19 at 3:04 pm to TigerNlc
quote:
I pay everything with my credit card to earn rewards and pay it off each month
which card do you find is best for this?
Posted on 1/30/19 at 3:04 pm to cajunbuck
The best way to get started is with a promotion. Most of have something akin to "Spend and pay off 3/4K in the first three months for 50,000 points".
I did that with a Chase Sapphire card in college. Paid for summer classes and books and paid it off with money I would have spent on it anyways. Got a few free plane tickets out of it.
I did that with a Chase Sapphire card in college. Paid for summer classes and books and paid it off with money I would have spent on it anyways. Got a few free plane tickets out of it.
Posted on 1/30/19 at 3:04 pm to cajunbuck
Posted on 1/30/19 at 3:05 pm to cajunbuck
Money Board has plenty of resources and knowledge on this topic. 
Posted on 1/30/19 at 3:05 pm to cajunbuck
Posted on 1/30/19 at 3:06 pm to cajunbuck
Posted on 1/30/19 at 3:08 pm to cajunbuck
The rewards cards are great, because the more you spend, the more rewards you earn. Suddenly you won't feel as guilty about ordering that nice bottle of cabernet with dinner instead of drinking water.
Posted on 1/30/19 at 3:09 pm to cajunbuck
I use the amex cash magnet and cap one quicksilver. Like them both. Literally never swipe my debit card. Pay with credit card every time and just pay it on the app about biweekly. Free money man.
This post was edited on 1/30/19 at 3:11 pm
Posted on 1/30/19 at 3:13 pm to cajunbuck
Step 1: Acquire Chase Sapphire Reserve
Step 2: Acquire Chase Freedom (NOT Freedom Unlimited)
Step 3: Acquire a 2% Cash Back card like Citi Double Cash
Use CSR on travel and dining. Get Global Entry with it as well (reimbursed) + enjoy $300 travel credit each year as well as 50k point bonus when you spend $4k in 3 months
Use Freedom for 5% points on quarterly categories
Use Double Cash on everything else
Chase accrues Ultimate Rewards Points. If you have a CSR and redeem the points through their portal, they're worth 1.5x more. Whatever points you earn with your Freedom can be transferred to your CSR balance and redeemed for 1.5x extra as well. Use these points for travel
Use statement credits for the Citi card
Profit
Step 2: Acquire Chase Freedom (NOT Freedom Unlimited)
Step 3: Acquire a 2% Cash Back card like Citi Double Cash
Use CSR on travel and dining. Get Global Entry with it as well (reimbursed) + enjoy $300 travel credit each year as well as 50k point bonus when you spend $4k in 3 months
Use Freedom for 5% points on quarterly categories
Use Double Cash on everything else
Chase accrues Ultimate Rewards Points. If you have a CSR and redeem the points through their portal, they're worth 1.5x more. Whatever points you earn with your Freedom can be transferred to your CSR balance and redeemed for 1.5x extra as well. Use these points for travel
Use statement credits for the Citi card
Profit
This post was edited on 1/30/19 at 4:15 pm
Posted on 1/30/19 at 3:15 pm to cajunbuck
There are no cons to credit cards if you pay them off every month. If you don't pay it off, you will be charged a very high interest rate on the remaining monthly balance, but even then it's still not the end of the world.
Most cards offer the same gimmick in a different package. you're not going to make out like a bandit, but you can get some extra cash for sure. usually you will get 1-2% back on purchases, and sometimes 3-5% on specialty purchases. If you live near a specific airline hub or use the same airline often, I would recommend looking at one of their cards.
I like the amazon prime credit card, because i use amazon a lot and it is one of the rare non annual fee cards that gives 2% back at bars/restaurants/groceries/gas etc.
Cards with an annual fee earn more points, but you are also paying for it, so you need to use some logic and figure out if paying an annual premium is beneficial to you.
Most cards offer the same gimmick in a different package. you're not going to make out like a bandit, but you can get some extra cash for sure. usually you will get 1-2% back on purchases, and sometimes 3-5% on specialty purchases. If you live near a specific airline hub or use the same airline often, I would recommend looking at one of their cards.
I like the amazon prime credit card, because i use amazon a lot and it is one of the rare non annual fee cards that gives 2% back at bars/restaurants/groceries/gas etc.
Cards with an annual fee earn more points, but you are also paying for it, so you need to use some logic and figure out if paying an annual premium is beneficial to you.
Posted on 1/30/19 at 3:17 pm to cajunbuck
If you’re an adult you should already have a loyalty program card. Hilton. Marriott. Southwest. Delta. Pick one that you think you will use the most. Most let you use for hotels or flights. I use the Marriott card for everything I buy and got to platinum status quickly. I got the Southwest card once because it offered 50k miles after the first purchase. Boom that was 2 free flights to Vegas. Cancelled that card after the trip. Next year I did a Capital One card that offered a similar prize and we stretched it to 3 free flights. Find one and stick to it but always be on the look out for free offers to abuse.
Posted on 1/30/19 at 3:18 pm to cajunbuck
Discover had a nice one. Not sure if it's still available, but the overall apr isn't bad if you have good credit, it's 0% app for first 18 months though. And during that whole time it's 5% cash back on certain categories for 3 months at a time, then changes categories. They also offered, for new customers, another 5% match cash back on the original 5% you got after the first 12 months, making it 10%.
The categories for my 2019 3 month intervals are grocery stores, gas stations/Uber/Lyft, restaurants, and then Amazon (just in time for Christmas). Each interval is 5% towards that category up to $1500. Also, you get 1% all the time on all other purchases...
The categories for my 2019 3 month intervals are grocery stores, gas stations/Uber/Lyft, restaurants, and then Amazon (just in time for Christmas). Each interval is 5% towards that category up to $1500. Also, you get 1% all the time on all other purchases...
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