What CC gives you the best bang for your buck?

[skinfan2k]

Just thoughts on what people have here and what credit cards offers the best benefits. I have american express blue and love it but need a visa card that could handle all other major purchases. Any ideas or recommendations? I was looked at United Visa Plus or SouthWest. Also, i would prefer to have a low annual fee. I have a Lexus CC now and it doesn't offer me jack!!

[Forehead]

We have a Chase Freedom Rewards card. To my knowledge there is no annual fee, we clear out the points every six months or so for restaurant gift cards.

[Skinz4Life12]

i have a question about amex cards. why do so many retailers no accept them?

[skinfan2k]

i have a question about amex cards. why do so many retailers no accept them?

Their fees to the stores are higher than mastercard/visa. American Express charges retailers 5% while the others charge 3-4%

[Pick6]

I have a USAA credit card with cash back reward. Also I know not everyone can become a USAA member, but the more stuff you have with them insurance, credit card, etc. the more discounts you can get.

[SloppyOneXXVI]

I have a USAA credit card with cash back reward. Also I know not everyone can become a USAA member, but the more stuff you have with them insurance, credit card, etc. the more discounts you can get.

Do you get much back? I'm a USAA member and was thinking about getting a card for groceries and gas.

[skinfan2k]

yeah i primarily want a card that gets mad benefits.

[Pick6]

Do you get much back? I'm a USAA member and was thinking about getting a card for groceries and gas.

It is 1.25% of purchases. Also, it is a mastercard, but they also offer an amex. They have a ton of different reward programs and may have one just for gas.

[sjinhan]

I use the Citi Premier Pass. $75 annual membership fee. If you travel alot or for whatever reason you buy airplane tickets using your credit card, this is by far the greatest credit card ever invented!

cant get into details right now since I am at work but if you are interested I can write more about it when I get home.

[Goskinz0721]

It really depends on the bang you're trying to get.
The AMEX Costco CC is a great deal IF your spending falls into the following categories:
•Earn 3% cash back for gasoline, for annual gasoline purchases of up to $3,000 (1% thereafter), 3% for restaurants, 2% for travel, and 1% everywhere else, including Costco

Plus, your annual fee at Costco means you pay no annual fee for the CC. Pretty sweet deal. They pay you back once a year.

[Predicto]

I have a 2% flat cash back Visa card from FIA Card Services. No annual fee. It is the best deal I have ever found, but I don't know how long it will last. It used to be affiliated with Charles Schwab, but it is no longer, and I don't know if you even can sign up for it any more.

There is no benefit as good as cash back. None.

[Corcaigh]

We use the Amex Costco card for most of our purchases. As mentioned, zero annual fee and we get a wad of cash back annually.

We also have zero annual fee CapitalOne Visa card that offers cash back. We use it for the places that don't take Amex. We can redeem the cash earned anytime. I typically apply it against the latest monthly statement.

[booballen]

Bank of America Visa. 1% cashback on all purchases. 3% on gas. no fee. and you can deposit straight into an account of yours once you reach x amount. Just started with them not sure of the details regarding necessary amounts.

Also Discover has 5% cashback, but they alternate what you can use it on. For example one month its gas, one month its travel/hotels, one month its restaurants. Once you get $25 you get a discover giftcard, with $50 you can do either the card or towards your bill.

[techboy]

The Fatwallet Finance Forums (http://www.fatwallet.com/forums/finance/) are the best place by far for this info, assuming a basic level of responsibility with credit and willpower (Remember, if nothing else, that multiple studies have shown that people have a psychological tendency to spend more with plastic than cash, which is why stores push their store card so hard, usually, along with finance charges and fees).

There's a sticky there called "What Credit Card should I choose?" Read it. There's an updatable quick summary.


I use the Citi Premier Pass. $75 annual membership fee.

This used to be the best deal out there, but Citi has seriously devalued the Thank You points program, and fixed flight redemptions are no longer available. I wouldn't recommend it now.


I have a 2% flat cash back Visa card from FIA Card Services. No annual fee. It is the best deal I have ever found, but I don't know how long it will last. It used to be affiliated with Charles Schwab, but it is no longer, and I don't know if you even can sign up for it any more.

There is no benefit as good as cash back. None.

It is the best, yes I have it too, no it's not available to new people, and given the loss of sponsorship, I'm surprised it's still available to us, since most banks have dropped the 2% cash back cards (Schwab was subsidizing this one as a hook for their brokerage, but they didn't find it profitable).

Enjoy it while it lasts... informed speculation is that it won't much longer.

[Predicto]

It is the best, yes I have it too, no it's not available to new people, and given the loss of sponsorship, I'm surprised it's still available to us, since most banks have dropped the 2% cash back cards (Schwab was subsidizing this one as a hook for their brokerage, but they didn't find it profitable).

Enjoy it while it lasts... informed speculation is that it won't much longer.

Oh really? That sucks. I have made a couple thousand bucks on that card over the years. I put everything on it - utilities, private school tuition, every damn thing I can think of. :(

[da#1skinsfan]

Penned visa cash back. 1pct on everything 5pct on gas and groceries. I did the math vs the Schwab card a year ago and with how much i spend on gas and groceries, it made more sense this way.

[drtdrums]

If you do a lot of Amazon shopping, their Visa rocks for personal use. All restaurants, pharmacies, gas station, and entertainment (movie theater...not sure what else qualifies) give 2% back, purchases from amazon give 3% back, and all other purchases are 1%. After a month of paying my bills and dinner dates, I generally have a $25 Amazon gift card to use. I then use the gift card on my list of wants or needs and then invest an extra $25 to my investments for the month. Pretty sweet deal.

[deejaydana]

this site has always been one of the best regarding best cards out there>>>>>>>>>>>>>>>>>>>>>>>>>>>.www.bankrate.com

[fullnelson9999]

This one
http://images.hogshaven.com/images/admin/cooley4.jpg

:)

[techboy]

Penned visa cash back. 1pct on everything 5pct on gas and groceries. I did the math vs the Schwab card a year ago and with how much i spend on gas and groceries, it made more sense this way.

It's not 5% on groceries any more. Also, a lot of people use 2 cards, for just this reason.

[Prosperity]

I have a 1% cash back CC from Wells Fargo

not bad, I pay it off before interest accrues and make almost all my purchases through it

[techboy]

I have a 1% cash back CC from Wells Fargo

If your credit is good enough, you can almost certainly do better, assuming the extra payoff is worth the effort. Check the forum I linked earlier.

[SkinsNumberOne]

It is the best, yes I have it too, no it's not available to new people, and given the loss of sponsorship, I'm surprised it's still available to us, since most banks have dropped the 2% cash back cards (Schwab was subsidizing this one as a hook for their brokerage, but they didn't find it profitable).


Yes, 2% cash back cards are impossible to find, I think (flat 2%). The best you can do is get them in pieces.

I travel a fair amount, so I use my Costco Amex or my BP Visa for those trips (2% cash back - that includes hotel, airfare, car rentals, etc).
BP Visa gives me 2% cash back at restaurants as well, but Costco Amex beats that with 3%.
Costco Amex is my best for gas, at 3%.

Then, for my Amazon purchases, I use my Amazon Visa which is 3% back on all Amazon purchases (3 points for every dollar spent on Amazon, and 5000 points gets redeemed for 50 bucks, simple math).

No annual fee on any of my cards, but Costco requires a Costco membership. Since I don't use my membership that much, I do sometimes have to re-evaluate that - but I think I use it enough where it's still worthwhile and Costco products are pretty good - I like the Kirkland brand.

BP Card (Visa):
https://www.chase.com/index.jsp?pg_name=ccpmapp/card_servicing/partner/page/home_BP_PL

Amazon Card (Visa):
http://www.amazon.com/gp/cobrandcard/marketing.html?place=camp&pr=con321&plattr=CBHP0309

Costco TrueEarnings (Amex):
http://www201.americanexpress.com/getthecard/learn-about/Costco-TrueEarnings

I broke my rules about having at most 4 credit cards (at least for now), and I do have a Citibank MC and a AmEx Blue... and for a couple of reasons I won't get into I'm not trimming back just now. Probably late next year. Anyway I discussed my favorites and most used cards.

[Ellis]

I have had numerous Credit Card types, including store chains.

I have a Discover Card now and I have NEVER been more satisfied with the service I receive. I'm treated like a human being, not a number. I never "wait to speak to a customer representative". It is THE most cut-n-dry credit card I've ever had. I recommend them all the time to friends and family. My fiance just signed up for one a few months ago.

Only one down side is... some small restaurants don't accept it and if you travel outside of America, you may have a hard time finding places that accept it.

[capitolpunishment]

Edit: If you own a business!


Nothing beats American Express, but I work for them so I may be biased? The points never expire and no blackout dates like other cards. If you fly internationally, even once a year the platinum has buy one ticket get one free and it's unlimited per year. I have indian, asian, african clients that:) go overseas 4-5 times a year and get 4-5 free tickets. You get access to the airport clubs for free (a $450 value), $200 reimbursment on baggage fees, drinks, food and other fees that airlines are now charging. Automatic 4pm late checkout at major hotels..... I could go on forever, so if you want one PM me and you can apply through me and i get the credit/commission!:)

[skinfan2k]

i already have american express but i need a visa/mastercard that allows me to pay for everything else. I got quite the stash of pts for AE though

[techboy]

The points never expire and no blackout dates like other cards. If you fly internationally, even once a year the platinum has buy one ticket get one free and it's unlimited per year.

It's probably unlimited because you have to buy the first ticket full-fare, and it's almost always cheaper just to get two discounted tickets instead. This benefit is generally considered to be worthless by those in the know.

There's also the $450 annual fee to consider.

On the other hand, should someone want the card, there's a set of deals going on right now (http://frugaltravelguy.blogspot.com/2011/01/reread-saturdays-post-for-30-more-delta.html) where one can leverage that platinum card into 90,000 Delta miles plus Delta silver medallion for around two years, so it's a good time to get it. Even if one hates Delta miles, the 50,000 points is still a pretty big offer, since they can, if nothing else, be used for $500 in gift cards (though transfers of airline miles for premium cabin international travel is by far the best bang for the buck).

---------- Post added January-25th-2011 at 07:28 PM ----------


i already have american express but i need a visa/mastercard that allows me to pay for everything else. I got quite the stash of pts for AE though

Have you checked the forum I mentioned earlier? There are no end of choices in the Visa/Mastercard area, though they're not as good as they once were.

[Prosperity]

That forum is pretty dense. In general what do you mean by better though? Cash back %? or "points"? I'm skeptical of points (seem like mostly stuff I'd never buy anyway), I could probably go for an amazon card because I buy so much stuff from them, but other than that if there's one that gives % back for groceries would be nice.

[techboy]

That forum is pretty dense.

This thread in particular (http://www.fatwallet.com/forums/finance/711457/) covers the topic, with an updatable quick summary.

Unfortunately, I am not aware of any card currently that always gives a bonus on groceries (especially cash), though some of the cards with rotating bonuses will include that from time to time.

The days of getting 5% on gas, groceries, and drugstores are sadly over, for the most part, largely due to the CARD act, I think.

[Forehead]

Techboy, what is your opinion of the Chase Freedom Rewards card, or whatever it is called now. The name just changed a month or two ago.

[skinfan2k]

chase freedom looks the best to me..

[techboy]

Techboy, what is your opinion of the Chase Freedom Rewards card, or whatever it is called now. The name just changed a month or two ago.

It's not bad... the rotating categories can be good. My wife and I each have one, though we don't really use it (we had older Chase cards that have changed several times, most annoyingly when we lost a version that was 5% on all gas, groceries, and drugstores).

If I had to apply for a new card now, and I wanted cash, I'd probably go with the 2% Fidelity AMEX (from FIA) that appears to be available, and maybe get the Chase VISA for places that don't take AMEX (though some of the credit unions have really good VISAs too). One undocumented feature (which is actually really cool) is that you can use the Worldpoints the Fidelity AMEX uses to get TWO AirCanada miles per dollar, so if you can make use of those (and they've got a GREAT award chart) either because you spend a lot on the card or have other sources for those miles (like actually, gasp, flying! :silly:), it's a fantastic deal.

The cards I actually currently use are the Starwood AMEX (which anyone can still get), and the once-Schwab 2% VISA Predicto was referring to. I like the Starwood card because I'm always collecting airline miles via one scheme or another, and the card earns 1 starpoint per dollar. 20,000 starpoints can be exchanged for 25,000 miles on a bunch of airlines (so 1.25 per, basically), and because we use those miles for international premium cabin flights, they end up being worth a fair amount to me. I haven't bothered to get the Fidelity AMEX because although you get two miles per dollar, I don't spend that much, and I don't fly (except on awards, generally), and I have a hard time getting Air Canada miles from other sources. The Starwood can go to my American or ANA accounts (and 68,000 ANA miles can get you Business class to Europe from the East Coast).

*EDIT* Actually, for VISA (this Fidelity VISA (http://personal.fidelity.com/products/checking/content/investment_rewards_card.shtml.cvsr)), which is 1.5% for the first $15,000, then 2% is probably better than the Chase Freedom. Also, if you ever stay in hotels or buy flights, Capitol One has a rewards card that can earn 2% by providing statement credits against those purchases with points. Either of those is probably better, though you could always use the Freedom as a third card for the rotating categories- it's too much work for me to bother with,

*EDIT 2* This is just from a surface perusal, mind you. I haven't really researched cards lately, since I'm happy with my 2% VISA plus the Starwood. I'd recommend going through the quick summary in that thread to see what might be better.

[Corcaigh]

I just checked ... my CapitalOne actually gives 1% cash back with a 25% annual bonus. More interestingly it also has a lot of deals with companies, such as additional 1-10%+ on many actually useful deals, such as 6% on 1-800 contacts, was at the top of the list.

[techboy]

I just checked ... my CapitalOne actually gives 1% cash back with a 25% annual bonus. More interestingly it also has a lot of deals with companies, such as additional 1-10%+ on many actually useful deals, such as.6% on 1-800 contacts, was at the top of the list.

Another pro of Capitol One is that they generally have 0% in foreign transaction fees (they even eat the 1% charged by VISA, apparently).

The con is that it's Capitol One, which is known for shady business practices and lousy customer service (though if you keep on top of them, this probably isn't a problem, and the CARD act likely made some of their previous shenanigans less profitable and more dangerous to them).

[Corcaigh]

The con is that it's Capitol One, which is known for shady business practices and lousy customer service (though if you keep on top of them, this probably isn't a problem, and the CARD act likely made some of their previous shenanigans less profitable and more dangerous to them).

Very possible, but as APRs or late payment penalties are irrelevant to me, any sharp practices haven't had an impact.

[techboy]

Very possible, but as APRs or late payment penalties are irrelevant to me, any sharp practices haven't had an impact.

Generally, I'd agree with you (and I take the same approach), but as I recall they were successfully sued for intentionally delaying opening mail until after the due date, and more recently for deceptive collection practices (http://www.bizjournals.com/washington/stories/2010/01/18/daily79.html).

As I noted, this probably doesn't matter if you stay on top of them (pay electronically, keep good records, never carry a balance, etc.), but it's not exactly heartening, either. If there was a Capitol One card that was significantly better than the ones I have, I would get it, but all things being equal, I tend to stay away (my 2% card also has no foreign transaction fees, for instance).

[Corcaigh]

this probably doesn't matter if you stay on top of them (pay electronically, keep good records, never carry a balance, etc.),

Yes, I do all that.


but it's not exactly heartening, either.



Call me cynical, but I've never sought that from a credit card provider. :)

I've never had an issue with Amex or CapitalOne. Even when I forgot to make an online payment they have always waived any fees.

In contrast, DiscoverCard behaved like complete *******s and will never get our business again, over a $10 charge. That costs them about $50k per year :ols: