Credit Card with rewards or point system recommendation

kvanderslice · Post by **kvanderslice** » Sun Dec 16, 2007 10:36 pm

Gents -

I'm looking for a credit card with a decent points or rewards system - any recommendations? I don't fly nearly as much as I stay at hotels, but I'm really open to anything, I've never had the need for a credit card, and I've got a pretty spotless credit rating, so I don't see how it could hurt to build it a bit more.

Thanks in advance!

Karl

Gareth · Post by **Gareth** » Mon Dec 17, 2007 6:01 am

Karl, presuming that you're American (your avatar doesn't say), I don't know how much use my opinion will be, as British credit cards will vary from American ones etc...

I have two credit cards, though I only really use one which is my AmEx Platinum Card. I have the charge card, and not the credit card, so I pay my balance off in full each month. It's an excellent card, but it does have a fairly hefty annual fee. I don't mind it too much, because I feel that the benefits outweigh the cost of it.

Obviously, being an AmEx, I have to carry another card for those merchants who refuse to be 'AmEx friendly'. If you were to go down this route, I would highly recommend you do this too as otherwise you may get caught out one day. To be honest though, AmEx isn't as widely rejected as some people believe - I put nearly all my spending through the card and I haven't used my backup Visa for over two months now.

Like I said, the Platinum Card is a great card if you will use the benefits of it, but if you know you won't, look at getting either the Green or Gold card. They have exactly the same points system (which IMO is very good for a credit card) but with a significantly lower annual fee.

Naughtius Maximus · Post by **Naughtius Maximus** » Mon Dec 17, 2007 6:07 am

First, Bob Ross rocks.

Second, Go with the hotel rewards points card. I stay in hotels much more than I fly and its much nicer getting extra perks at the hotel.

Happy trees, man. Happy trees.

Lionhearted · Post by **Lionhearted** » Mon Dec 17, 2007 6:38 am

I have about two dozen credit cards of which I routinely use only three. If you use your card almost exclusively for hotels and don't stay at too many chains you would probably be better off with a hotel-branded card or two. Some general purpose cards (Visa/Mastercard) give as much as 3% cash rebate long term and more initially as teaser rates. Until recently Discover gave 5% back on gasoline without limit but now they limit the gas rebate to $5 per month.

These rebates add up. My wife and I got back over $500 so far this year either in cash or deducted from the next statement. Everything we buy that can be charged we charge including groceries, phone bill, Internet provider, garage mechanic, restaurants, etc. Naturally we pay the balance in full each month otherwise any rebates would be negated by interest. Our daughter got almost $2,000 back this year putting a number of big ticket items on her card. One year we even charged a new car on a Mastercard and got a 2% cash rebate. Chase and Citibank work smoothly with rebates.

I'm retired and we stay in our motorhome far more than we stay in hotels.

Richard

timc · Post by **timc** » Mon Dec 17, 2007 8:10 am

I wish I could find a credit card with a 2% or 3% cash rebate. The best I could find in the Great White North was the 1% I am currently receiving on my Visa card.

Bertie Wooster · Post by **Bertie Wooster** » Mon Dec 17, 2007 9:04 am

I use my Blue card for all online purchases because of some additional security features and the Platinum is the best card for people who travel. The Platinum gets me free membership into Northwest Airlines club rooms and also Hertz Gold Club. That alone pays for the yearly dues. I don't travel like I used to, but being able to relax and use the services in airline club rooms is a real treat when you practically live in airports.

The bonus rewards are really good too. But unless you spend a ton of money it will take a very long time to build up enough rewards to get anything of value. However, spending several thousand a week on airline tickets, hotels and car rentals can add up fast.

Richard...I like the idea of the cash back card. I'll have to look into one of those myself.

Thanks,
Malcolm

jww · Post by **jww** » Mon Dec 17, 2007 10:04 am

Like Gareth - I have an Amex Charge card which is paid monthly. It's an Aeroplan card affiliated with Air Canada air miles. I have a Visa but rarely - if ever - use it.

MrSmooth · Post by **MrSmooth** » Mon Dec 17, 2007 10:27 am

Personally, I like the Amazon card. 2% rebate resulting in $25 gift certificates to Amazon every time you get that much -- except you get 'triple points' for shopping at Amazon, so when you buy from them using their card, it is like 6% back. As Amazon has so much stuff, it is basically like 2% cash back for me. As I buy tons of stuff from them, it works well.

kvanderslice · Post by **kvanderslice** » Mon Dec 17, 2007 2:45 pm

MrSmooth wrote:Personally, I like the Amazon card. 2% rebate resulting in $25 gift certificates to Amazon every time you get that much -- except you get 'triple points' for shopping at Amazon, so when you buy from them using their card, it is like 6% back. As Amazon has so much stuff, it is basically like 2% cash back for me. As I buy tons of stuff from them, it works well.

Thanks for the suggestions, everyone. That does sound good - I use Amazon a lot. Thanks again!

bleedingface · Post by **bleedingface** » Mon Dec 17, 2007 3:43 pm

I actually do not put much importance on reward plans. I chose my card based on trust and the low interest rate they gave me, with no catch. It also happens they have a points system which gives me a little something in return. AMEX Platinum looked interesting if one used all the features of it, but I am hesitant to turn my credit card into some kind of bond (yearly fee). Also AMEX has a reputation for not being vendor-friendly and I worry some places might levy a fee for its use over other cards. This aspect of them may have changed...

My card is through USAA.

Gareth · Post by **Gareth** » Mon Dec 17, 2007 3:53 pm

bleedingface wrote:Also AMEX has a reputation for not being vendor-friendly and I worry some places might levy a fee for its use over other cards.

Bleeding, it is a bit of an old-wive's tale this - it's never as bad as people think. Like I said in my first post, and Wendell has agreed to some extent, around 95% of my monthly spending goes on my AmEx - I haven't used my backup Visa for atleast two months, most likely three.

As for levying a fee for accepting the card, I have also never experienced this. In fact, merchants are not allowed to directly pass on credit card charges to the consumer. It's prohibited by their agreements with the card companies, and they can get into a lot of trouble for it. There's even a form on AmEx's website which allows you to report this sort of behaviour. A reputable merchant (i.e. anyone you'd actually want to give your money to) would never think of doing this.

bleedingface · Post by **bleedingface** » Mon Dec 17, 2007 4:18 pm

Gareth,

Maybe I am misinformed, or it could be a difference between laws of the US vs. the UK, but I've been charged a surcharge for using my credit card in the past. It hasn't happened in a long time, though.

I didn't mean to come off as criticizing your own financial choices; I hope I didn't come off that way--it wasn't my intent. I was merely relating my own personal preferences. For me, yearly fee cards have always turned me off a bit. Finding stuff like this also has caused me a bit of trepidation:

http://www.consumeraffairs.com/credit_c ... _plat.html

In the end, I prefer a free line of credit with a low interest rate (right now at 7.5%) and a sufficient grade period that I can pay it off every month without even incurring that finance charge.

Gareth · Post by **Gareth** » Mon Dec 17, 2007 5:02 pm

Bleeding, no, I didn't consider your comments a criticism at all. I fully accept that many people would not want to pay an annual fee. Ultimately, cards like the Platinum Card (and the Centurion Card with an even heftier fee) are not going to be of much use to some people - it depends entirely upon your lifestyle. I personally get my money's worth from the card, but I know that there are many others who simply don't.

As for the charge levying, I wouldn't say you were misinformed. It does go on, I know that. Ironically enough, I experienced this a few months ago with a my Visa card, not my AmEx. The bottom line is, they shouldn't really do it, but even so it does still happen.

I have read the comments in the link provided, and I can understand the trepidation you may feel. Whilst not discounting what they have written, there are of course ALWAYS some unhappy customers. For instance, I'm not particularly happy that my Visa issuer has just written to me telling me that the APR on my card is about to increase from 14.9% to 21.9%. I probably won't cancel the card as I never carry a balance, but even so, it's a black mark against them in my book.....

Lionhearted · Post by **Lionhearted** » Mon Dec 17, 2007 6:01 pm

bleedingface wrote:Maybe I am misinformed, or it could be a difference between laws of the US vs. the UK, but I've been charged a surcharge for using my credit card in the past. It hasn't happened in a long time, though.

In some states merchants are allowed to have a cash price and a credit card price but they can't add a surcharge for just one type of card such as Amex. I've seen the cash/credit price difference mostly at gas stations in New England but I've also seen it various places in the Southwest. It seems to be unknown in the Midwest.

If anyone does choose to get a cash rebate card read the fine print. Some have an annual limit on the amount of the rebate, some won't let you withdraw the cash until you reach a certain amount, and many have a sliding scale so you don't reach the maximum percentage until your spending reaches a certain limit. The rebate card I use the most, Chase, gives 3% in my three highest spending categories each month, which in my case is usually medical, groceries and TV (my wife subscribes to ALL channels on Dish Network) and gives 1% on everything else. Citibank has a rebate limit of $200 a year but Chase has no limit. Discover gives 5% on the first $100 of gasoline purchases per month, 2% on selected categories and 1% on other purchases. I have two Mastercards that give 2% on everything. My wife is a CPA who likes keeping track of monetary details so she tells me which card to use when. My kids and my brothers have switched to cash rebate cards — they really do refund real money. My wife tells me we've gotten about $4,000 back since we switched to cash rebate cards.

You might read this: http://www.creditcardgoodies.com/forum/ ... ?f=1&t=312

Something most people don't know is that all features of a credit card are negotiable for those with exceptional credit/assets and sometimes for those who just threaten to cancel the card.

Richard

SMF

Credit Card with rewards or point system recommendation

Credit Card with rewards or point system recommendation

Amex Blue and Platinum