Should I open a new Discover card?

[long101]

[quote=ChunkyMonkey;11496793]No the 5% will apply to all purchases that qualify in that specific time period with no maximum. So, if you spend a ton of money in the time period on those specific transactions you can earn quite a bit. So, it is a nice perk.
quote]

Nope.

Earn 5% Cashback Bonus on up to $400 in purchases, from October through December at:

Earn 5% Cashback Bonus :: Discover Financial Services

[ChunkyMonkey]

Oops, guess I've never noticed the maximum. Makes it less like a good deal.

[no kudzu]

I don't pay much attention to rewards. I have a few cards which offer them but I would rather use my credit union card at 7%. And I rarely carry a balance. am I really missing that much by writing a check for my groceries and most other purchases? I guess groceries are my biggest monthly expsnse anyway except mortgage payments.
I always tend to think that charging your groceries is a sign you are in deep trouble but maybe that way of thinking is old hat.

[macroy]

Originally Posted by no kudzu

I don't pay much attention to rewards. I have a few cards which offer them but I would rather use my credit union card at 7%. And I rarely carry a balance. am I really missing that much by writing a check for my groceries and most other purchases? I guess groceries are my biggest monthly expsnse anyway except mortgage payments.
I always tend to think that charging your groceries is a sign you are in deep trouble but maybe that way of thinking is old hat.

There's no right or wrong - its whatever makes you feel more comfortable.

Personally, I like the convenience and put everything I can on my credit card; and I mean everything - car insurance, cable bill, phone bill... pretty much anything I can to maximize the rewards. Why not get some money back (or other rewards) for the money you're spending anyways? There are also other benefits a credit card can provide if you need them (rental insurance, fraud protection, etc.).

I think the biggest stickler is that some people forget that its "credit" not free money. Not carrying a balance is the key - otherwise, those rewards will never pay for the interest.

But again, it's all individual taste. I have friends who hate credit cards because they don't like to see a huge bill at the end of the month.

[long101]

If you can and would pay off your credit card every month Id say you are missing out. On how much it all depends. I throw most purchases on my CC and average about 300 bucks in cashback. I never carry a balance so its free money for me. I will probaly use it towards holiday gifts this year.