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Rewards Credit Cards

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F

fan_from_texas

Senior Member

2,693 posts
Jun 16, 2011 9:56 AM
Be careful about having too many credit cards--having lots of open accounts can hurt your credit score a bit, which might make a difference on the margins when you're buying a house or a car.

Re debit cards, we don't generally use them because of identity theft concerns. If someone steals your credit card number, you're not on the hook for fraudulent charges. If someone steals your debit card, on the other hand . . . good luck getting the money back into your checking account.

Also, CFF, have you ever tried Mint.com? I started using it a year ago (after years of Quicken/Microsoft Money/Moneydance), and it's a dream for tracking finances and keeping on top of accounts.
Jun 16, 2011 9:56am
thePITman's avatar

thePITman

Senior Member

3,867 posts
Jun 16, 2011 10:04 AM
I have an Everyday Rewards credit card through PNC Bank. All I use my credit card for is gasoline and groceries, and I pay it off in full every month.

Up to 4% on gasoline at the pump
(up to $250 in eligible monthly net purchases)
3% on cinema and movie rentals
(up to $150 in eligible monthly net purchases)
2% on groceries, resturants and fast food
(up to $750 in eligible monthly net purchases)
Up to 1% on almost everything else
(1/4% on first $10,000 in eligible net purchases each year, 1% thereafter with no limits)
Automatic Redemption (earn $100 cash back and receive a check in your next statement)
Jun 16, 2011 10:04am
FatHobbit's avatar

FatHobbit

Senior Member

8,651 posts
Jun 16, 2011 10:12 AM
I have family in Germany so I fly there at least twice a year. I have a united visa that I only opened because they gave me 30,000 miles for free. I quit using it once I earned a flight to Europe. Now I mainly use capital one and I've received two free flights from them. Capital One is nice because you can fly any airline anytime. It's really easy. Once you have enough miles, you just have to charge the flight and then go online and select it and they credit it almost right away. (It's always credited before I get the bill so I've never had to pay it.)
Jun 16, 2011 10:12am
lhslep134's avatar

lhslep134

why so serious?

9,774 posts
Jun 16, 2011 11:33 AM
Just got my first one, had to be a crappier card since I don't have a credit rating yet. Got a Citi Dividend, get 1% cash back on everything plus an additional 5% for student purchases (books, groceries). I'll probably get a better/new one upon leaving law school.

Like Sleeper said, find the best card for rewards. Even if it's an asininely high interest rate if you plan on paying your bills it won't matter.
Jun 16, 2011 11:33am
mcburg93's avatar

mcburg93

permaban to basement

3,167 posts
Jun 16, 2011 1:40 PM
Something I learned the hard way about credit cards is if you dont use them for awhile they will cancel them. Of course I didnt read that part and tried to use one to get groceries once and they told me it was declined. I told her bs cause i havent used it in over a year and it had no balance on it. So i tried to use my discover and the samething happened with it. I was screwed cause i gave my debit card to the ole lady and had no way to get money lol. I was very embarassed needless to say cause they had to put all the groceries back that night.
Jun 16, 2011 1:40pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Jun 16, 2011 2:24 PM
lhslep134;804443 wrote:Just got my first one, had to be a crappier card since I don't have a credit rating yet.

Do you (or anyone else who can answer this) think I would be able to get a Discover card, being right out of college? I know my credit score, it's not great (mid 600s)...but I do have a job with decent annual income and can fully expect to pay off everything I would use my credit card for (which isn't a lot..like you, just groceries and maybe some gas here and there).

I just don't want to apply for Discover and get denied, cuz that'll hurt my credit score. I might just go capital one since I know for a fact i'll be approved there.

Someone help!
Jun 16, 2011 2:24pm
sleeper's avatar

sleeper

Legend

27,879 posts
Jun 16, 2011 2:29 PM
SportsAndLady;804668 wrote:Do you (or anyone else who can answer this) think I would be able to get a Discover card, being right out of college? I know my credit score, it's not great (mid 600s)...but I do have a job with decent annual income and can fully expect to pay off everything I would use my credit card for (which isn't a lot..like you, just groceries and maybe some gas here and there).

I just don't want to apply for Discover and get denied, cuz that'll hurt my credit score. I might just go capital one since I know for a fact i'll be approved there.

Someone help!

I guarantee you will get Discover.
Jun 16, 2011 2:29pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Jun 16, 2011 2:32 PM
sleeper;804678 wrote:I guarantee you will get Discover.

You think that's the best option?
Jun 16, 2011 2:32pm
sleeper's avatar

sleeper

Legend

27,879 posts
Jun 16, 2011 2:33 PM
SportsAndLady;804681 wrote:You think that's the best option?

Yes, I think Discover is the best card out there. There really is only 2 downsides, and that is some places won't take it, and its a pain in the butt to raise your credit limit. But other than that, its what I would recommend, especially for someone in your situation.
Jun 16, 2011 2:33pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Jun 16, 2011 2:35 PM
K, i'm trusting you sleeper!
Jun 16, 2011 2:35pm
Skyhook79's avatar

Skyhook79

Senior Member

5,739 posts
Jun 16, 2011 3:26 PM
SportsAndLady;804687 wrote:K, i'm trusting you sleeper!

Biggest mistake of your life.

Discover doesn't give a flat 1% cash back. You have to purchase x amount of dollars to make it to the 1%.
Jun 16, 2011 3:26pm
C

Con_Alma

Senior Member

12,198 posts
Jun 16, 2011 3:28 PM
We put everything we can on an American Express. Everything else is cash. It keeps life simple for us.
Jun 16, 2011 3:28pm
sleeper's avatar

sleeper

Legend

27,879 posts
Jun 16, 2011 3:35 PM
Skyhook79;804751 wrote: Discover doesn't give a flat 1% cash back. You have to purchase x amount of dollars to make it to the 1%.

Yes this is true. It's still the best card out there, no doubt about it.
Jun 16, 2011 3:35pm
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Jun 16, 2011 3:40 PM
I've had a Discover card forever, it's the only credit card I use. I've got $500 in cash back rewards currently waiting to be used, I just can't decide what I'm going to use it on.
Jun 16, 2011 3:40pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Jun 16, 2011 4:13 PM
sleeper;804678 wrote:I guarantee you will get Discover.

I was un-approved.

wtf
Jun 16, 2011 4:13pm
Skyhook79's avatar

Skyhook79

Senior Member

5,739 posts
Jun 16, 2011 5:21 PM
SportsAndLady;804792 wrote:I was un-approved.

wtf

I warned you.
Jun 16, 2011 5:21pm
Glory Days's avatar

Glory Days

Senior Member

7,809 posts
Jun 16, 2011 5:29 PM
justincredible;804764 wrote:I've had a Discover card forever, it's the only credit card I use. I've got $500 in cash back rewards currently waiting to be used, I just can't decide what I'm going to use it on.

well we know you didnt spend any money on this site. sheesh how much porn have you been buying?
Jun 16, 2011 5:29pm
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Jun 16, 2011 5:34 PM
Glory Days;804875 wrote:well we know you didnt spend any money on this site. sheesh how much porn have you been buying?

lots
Jun 16, 2011 5:34pm
I

I Wear Pants

Senior Member

16,223 posts
Jun 16, 2011 5:44 PM
First make sure you aren't financially retarded/in a place financially that would make you carry a balance on a card. After that it really comes down to figuring out what you buy most and then finding the card that can save you the most on that. Do you stay in hotels a lot? Perhaps try the card associated with the chain you prefer, etc, etc.
Jun 16, 2011 5:44pm
M

Manhattan Buckeye

Senior Member

7,566 posts
Jun 16, 2011 10:16 PM
Skyhook79;804751 wrote:Biggest mistake of your life.

Discover doesn't give a flat 1% cash back. You have to purchase x amount of dollars to make it to the 1%.

which for most platinum members is about a month's worth of purchases - if one runs up $500 in rewards a year, the $25 or so of "non-rewards" to build up to that level is more than worth it. When we lived in the U.S. we could almost halfway get to the $1,500 plateau on gym costs, ADT, city gas bill, power bill, other essentials, etc. in a month alone....even with thrifty grocery/gas shopping we easily surpassed the level in the first month.
Jun 16, 2011 10:16pm
S

sportchampps

Senior Member

7,361 posts
Jun 17, 2011 1:12 AM
I work 4 discover the 5 percent card is the more card they also have an open road card 4 gas and restaurant purshases
Jun 17, 2011 1:12am
T

Timber

Senior Member

935 posts
Jun 17, 2011 4:09 AM
If your into outdoor sports.... I see a ton of Cabella's cards where I work. I have asked a few people about them, and they earn points/money over time and use it to buy gear, boats, etc.
Jun 17, 2011 4:09am