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Old 05-12-2008, 02:18 PM
 
Location: Bedford Park, Bronx
318 posts, read 731,209 times
Reputation: 63
Default What is best credit card for rewards (cash/airline travel, etc)

I'm not sure if this is the correct forum, but I wonder if anyone has opinions on the best credit card reward deals. We have a Capital One Miles card and have been using it for a couple of years, but don't seem to have saved up many miles. I was interested in the Discover Card but I don't think it gives you a big cashback on groceries, which is about 1/2 of what we put on the card. Has anyone used a particular airline credit card, and if so, was it worth it? Thanks in advance for your input.
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Old 05-12-2008, 02:30 PM
 
Location: Moon Over Palmettos
5,970 posts, read 12,092,856 times
Reputation: 4762
Check American Express. They have one which doubles the miles when used for gas and groceries. I don't travel much and I already have the Amex Green and Optima Platinum. We charge everything on Amex (I mean including groceries) and we get back membership rewards points to use at Home Depot, LinensNThings, Williams Sonoma, Pottery Barn and a lot of other merchants. You do have to pay an annual fee to sign up for Mem Rewards on top of any annual fees for the card if applicable. There are many Amex cards that are credit cards and not charge cards like the Green. I have been an amex member since 1988 and have been extremely pleased with them.
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Old 05-12-2008, 03:40 PM
 
11,853 posts, read 11,175,875 times
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I have the best one (my opinion of course)... I get 1.25% back on every single purchase, 2% back from groceries, and 5% back on gasoline... I get the cash rebate applied to my credit card at the end of every month and I don't think there is a maximum limit (or I haven't reached it yet).... all this on one credit card! I prefer cash reward over miles and other reward programs... I can buy cheaper plane tickets from the money I get back from cash reward compared to miles redemption and buy the same cheaper products instead of having to use gift certificate rewards and pay full retail price at "preferred vendors"... I also get the cash reward applied almost immediately compared to those who get their rewards in 50 dollar increments or such... I love my card, it also has a low APR but I really don't care about that since I pay off the balance each month... I can also get a 2.99% APR balance transfer for life and currently have a 50k credit limit (this at a time when I didn't even make 50k a year) on it too...
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Old 05-12-2008, 04:16 PM
 
Location: Bedford Park, Bronx
318 posts, read 731,209 times
Reputation: 63
I prefer not to have a yearly fee, but will check out American Express anyway bibit, thanks for the advice.

Evilnewbie, which card do you have? It sounds great.
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Old 05-12-2008, 04:33 PM
 
2,259 posts, read 2,604,199 times
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At Credit Cards - Compare Credit Card Offers at CreditCards.com , you can compare dozens of cards, their rates, annual fees, rewards, etc.
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Old 05-12-2008, 05:51 PM
 
Location: Bedford Park, Bronx
318 posts, read 731,209 times
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That's a very useful website, thanks sirron. I think the airline cards give the most rewards for the money you spend. We never get around to flying away on vacation, but if we had the miles we'd find time. American Airlines have one where they give you 25,000 to begin with and 1 mile per dollar after that.

The best cash rewards one I saw was the Chase Freedom card with 3% back on your 3 major spending categories, and 1% on everything else. I don't really trust the "points" cards, it depends on how much 1 point buys.
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Old 05-12-2008, 06:07 PM
 
11,853 posts, read 11,175,875 times
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There is no annual fee on my credit card... but there is ONE catch... you have to be "related" to the military in some way before you can get the card BUT there is a way for non-military people to get the card...

Join NMFA... pay a one time fee of $25 and apply for the credit card... I guess there "is" a fee but it is only one time and I never renewed my membership after that... I have had the card for 4 years now and continue getting the rebates without paying anything anymore... I love the rebates, I can't find any card that does all three like that... nobody does 1.25% on everything starting at $1 purchases...

www.penfed.org (site where the credit card is)
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Old 05-12-2008, 06:09 PM
 
Location: Ohio
139 posts, read 592,286 times
Reputation: 172
Dicks Sporting Goods--Visa or Mastercard.

I use this card everywhere I go. I pay for gas, food, clothes, cable + internet bill, insurance bill. --Absolutely everything with this card.

I pay off my balance every month, and in return, I EARN enough REWARDS POINTS every month, to get a Dicks Sporting Goods gift certificate in the mail; normally $40 to $50 each month. Sometimes $60 or $70 bucks.

Every month, I get my certificate and walk in Dicks and walk out with FREE clothes or merchandise. I figure I'm getting at least $500 in store merchandise annually.
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Old 05-12-2008, 06:54 PM
 
Location: Bedford Park, Bronx
318 posts, read 731,209 times
Reputation: 63
Thanks for the info, evilnewbie. After reading the description again I realized that card wouldn't be so useful to us since we don't have a car (we live in NYC), but 5% cash back on gas would certainly help a lot of people out right now.

LiptonGuy, I never would have guessed that Dick's Sporting
Goods would have their own credit card. All these are only worth it if you don't carry a balance, or else the interest eats up the rewards.
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Old 05-12-2008, 10:06 PM
 
Location: Wouldn't you like to know?
8,367 posts, read 10,034,647 times
Reputation: 3174
If you put ALOT on your cards every month, I believe AMEX blue is the way to go...

5% on any gas or grocery purchases over $6K worth of spending in 1 year...

We got back around $900 last year in free money...(paid it off every month and no annual fee)
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