Credit card advice - looking for new card

[wordoflife]

The only thing that's annoying is if you have a second card with Chase, they both have the same card number. There's no way to tell who paid for what like with the Amex, which gives additional cardmembers completely different card numbers.

If you click on the transaction on your online account, it should tell you who swiped the card.

 

[mrwizardno2]

If you click on the transaction on your online account, it should tell you who swiped the card.

Nope. Sure doesn't. It's not a big deal, though. My partner rarely uses my card unless it's for something we've talked about beforehand. I just like the way Amex does it better.

 

[Menel]

Credit card advice - looking for new card

Hey all,



I'm looking to get another credit card and could use a bit of advice. I have 2 cards now and great credit. One of my cards is a BoA cash rewards, the other a reward card for a hotel chain.



My wife and I are just looking for a card that's s bit different. Either better cash rewards (currently on a 1, 2 , 3% back plan from the BoA card) or better rewards for travel, getting free credit score info, etc. I am slightly intrigued by some of the higher end AmEx benefits and the Chase Sapphire Preferred card as well but don't know what they can really do.



The preference is a card with no or low annual fee.



Any advice from your credit card gurus out there?

I prefer to minimize bank wrangling.

Chase Freedom cash back. 1% cash back all the time, 5% per quarters in categories is nice. Especially 5% back amazon shopping 4th quarter for xmas.

CapitaOne quicksilver, smaller cashback, but no foreign fees is good for travel. Travel is only reason I even have a second card.

Neither have annual fees.
Both are ApplePay
Both are Signature with added travel insurance and purchase protection

 

[Menel]

Credit card advice - looking for new card

I have both the Blue Cash Preferred from American Express and the Chase Sapphire Preferred cards. I have to say, in my experience so far that they're both awesome cards.



The $75 fee on the Amex is easily recovered in almost no time. I use it most at Giant Eagle, especially when buying gift cards; Think Christmas time or large Amazon purchases! I calculated it out a while ago that the total I received in benefits from the whole shenanigan between the 6% statement credit for using the Amex at Giant Eagle plus the FuelPerks and it was around 12% off the purchase price of the item. Of course, that was before they changed the gift card program, so now it's lower. I bought $3k worth of Lowes gift cards when I replaced my washer and dryer and a few power tools - and had free fuel for quite some time! I did the same when I bought our new TV and Receiver for the theater.



The Sapphire card's First Fridays deal is awesome if you're a restaurant goer. We dine out a lot - I eat lunch out nearly every day at work (it's a social thing, I swear!). But on First Fridays we treat ourselves out to a fancy date night! 3x points at a high end restaurant really racks up (your balance and your point balance! lol). The Chase card is actually easier to use - it's perplexing how few places take Amex. The only thing that's annoying is if you have a second card with Chase, they both have the same card number. There's no way to tell who paid for what like with the Amex, which gives additional cardmembers completely different card numbers.



I always try to use the Amex for groceries and gas (6% and 3% back respectively), but the Chase for food and anything else. Online I always default to Amex, as I feel their security is top notch / better than Chase.



You should check out http://thepointsguy.com/ - it's a great tool for comparing card rewards.



And finally, my biggest pet peeve: People who don't understand credit will tell you not to use it. They'll never see the 800+ club. If you use it responsibly, you'll be rewarded for it. Screw it up, and you'll be punished. To get to 800+, you should have at least 3 revolving lines (according to sources on the internet) in your mix of credit lines. I didn't break 800 until a few months after opening my Chase Sapphire Preferred. My score dipped initially from the new line and hard pull, but has since rebounded higher than before - likely because of the lower utilization from having more available credit.



Anyway, enough ranting, eh? Which card are you leaning toward?

What does a 800+ do?
Ive got a 790, I think it might have been 760ish when I setup mortgage, 3.1 30yr fixed which was very competitive at the time, 800+ wouldnt have likely landed better. Wont be redone for a long time if ever.
Ill have 40k cash on hand in my car savings account by the time the new Canyon diesel is ready. I just don't see much point in playing said numbers game with the banks.

 

[prostuff1]

Ill have 40k cash on hand in my car savings account by the time the new Canyon diesel is ready. I just don't see much point in playing said numbers game with the banks.

Canyon diesel, man after my own heart! So looking forward to driving/buying one of these in the next year-year and a half.


I default to 2 different cards, a GM mastercard used quite a bit since I am using it to build up money back on my next car purchase. The second is a BoA car with a lot of rewards points built up right now.

The third is a costco Amex card used mostly for costco gas and groceries.

 

[wordoflife]

Nope. Sure doesn't. It's not a big deal, though. My partner rarely uses my card unless it's for something we've talked about beforehand. I just like the way Amex does it better.

That's too bad. My Citi cards have the same card number for a different user, but when I click on the transaction online, it tells me who swiped the card for that transaction under "cardmember"

Thought Chase might have the same.
Maybe it will give more info if you press "print". Just a guess

 

[Apple_Robert]

Paying a yearly fee for a credit card is foolish, in my opinion. Why line the pockets of the credit card company? If you do, you are throwing good money out the window.

Getting a credit card just to have one is not really a good idea either, in my opinion. But, if you are set on getting another one, look for one with no yearly fee. Pay off the card every month and the interest rate is a nonissue.

 

[wordoflife]

Paying a yearly fee for a credit card is foolish, in my opinion. Why line the pockets of the credit card company? If you do, you are throwing good money out the window.

Getting a credit card just to have one is not really a good idea either, in my opinion. But, if you are set on getting another one, look for one with no yearly fee. Pay off the card every month and the interest rate is a nonissue.

Paying a yearly fee for a credit card isn't bad if you can make use of the card. As in, at least break even with the card's annual fee. I know I can with my United card with free 1st checked baggage. Not to mention the other benefits it has.

 

[Apple_Robert]

Paying a yearly fee for a credit card isn't bad if you can make use of the card. As in, at least break even with the card's annual fee. I know I can with my United card with free 1st checked baggage. Not to mention the other benefits it has.

We will have to agree to disagree.

Credit card companies make a lot of money by charging people a yearly fee for their cards. And the smoke and mirrors games they play with the rebates and bonus points suckers a lot of people in, where they start rationalizing breaking even (or not) on a yearly fee. You (general use) are helping the credit card companies make money with their bogus warranty protection type benefits, as well as helping them to recoup some bad debt.

Even if you think you are breaking even, you are still on the losing end.

Get a credit card without a fee. And getting a rewards card with no fee is even better. Put the money that was going towards a yearly fee aside, and put that in savings, investment, or charity, or in the buy a new Mac fund. Don't give hard earned money to the credit card company.

 

[wordoflife]

We will have to agree to disagree.

Credit card companies make a lot of money by charging people a yearly fee for their cards. And the smoke and mirrors games they play with the rebates and bonus points suckers a lot of people in, where they start rationalizing breaking even (or not) on a yearly fee. You (general use) are helping the credit card companies make money with their bogus warranty protection type benefits, as well as helping them to recoup some bad debt.

Even if you think you are breaking even, you are still on the losing end.

Get a credit card without a fee. And getting a rewards card with no fee is even better. Put the money that was going towards a yearly fee aside, and put that in savings, investment, or charity, or in the buy a new Mac fund. Don't give hard earned money to the credit card company.

Credit card companies make most of their money through crazy high interest fees, not annual fees.

On the Amex Blue Cash Preferred, with a $75 annual fee, you get 6% cash back on groceries, 3% at gas stations and department stores, and 1% on everything else. Making up that $75 annual fee is not too difficult. Do you spend at least $104 a month on groceries? With just that, you would make up the annual fee. Not even counting the 3% on gas, 1% on everything else, $100 sign up bonus, free year of Amazon prime, free Shop Runner membership, and warranties/insurance that the card provides.

My airline card takes care of the $25 check-in fee each time I fly. Not to mention the other benefits I get such as the sign up bonus which basically covers the cost a trip, priority boarding, and 2 club passes per year. Even if I broke even after one year, I'd have benefitted from priority boarding and car/purchase insurance.

Don't give hard earned money to the credit card company.

I agree with you on this. Be smart about credit cards and they can work for your benefit.

It's not the annual fees that get you (again, if you can make use of it), it is the interest. Annual fee card or not. They're all too high.

 

[smallcoffee]

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