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A CC can get some people in a lot of trouble. One month the bill is 200.00 and the next month its 10K. Anyway, like you I am a cash person BUT i use a CC for most things and pay it off monthly/daily. A CC can protect you in todays world. You can insert your debit/bank card into a gas pump and the next think you know is that your bank account is cleared out. Just one of many examples
Look for a cash back credit card with no annual fee. And charge everything you can on that card. Especially recurring charges like streaming services, utilities and telecom, and insurance.
Each credit will be in the 1-5% range which can seem small. But since this is free money and takes no effort to earn or redeem, why not take the money?
It has gotten ridiculous in what they offer now. I struggle to justify the $695 because most of the stuff isn't really as useful as you think. I got it for the lounge access originally and then realized unless you order a few drinks every time that access isn't really worth all that much. I get the digital stuff only because I get credit for it, but I wouldn't subscribe if not for it as an example. And just try to find anything useful at Saks for $50
I find a lot of value with the lounge access even though I don’t drink. At the moment it’s card hold plus 2 guest, next February it’s card holder only + 50.00 per guest.
A lot of people have digital services, the Uber credit is easy to use, saks is easy but I have one down the street, the airline can be tricky but there’s a bit of a hack/work around for Southwest Airlines.
Saks in store you can purchase a gift cards and get the reimbursement, I go twice a year and accumulate them.
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Anyways my two cents on this in responding to the OP is that of course you want to get at least a few CCs. Don't you rent cars or stay in hotels? Not having a CC for those is a mess, I would never suggest doing it without a card that provides rental insurance so you can save a lot of money there and not have to wait 10 days or more to get hotel and car deposits back to your account if you use debit. Plus the protection for fraud or warranties buying with CCs is well worth it. I never use a debit card, its an ATM card to me because the protections on them are terrible.
Chase and their ultimate rewards program for earning and redemption is the best imo. The Sapphire cards and one of the business cards
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The benefits of paid cards can be worthwhile if you do the research, but I think the premium cards are best left for people who do travel a lot and get reimbursed for much of it. I fall into that category so I get value out of them, but I tell my wife don't spend more than $100 fee on cards because she does not get travel reimbursed. For under $100 you can get some decent benefits on cards if you are brand loyal that can be well worth the expense. You can also get some no fee cards that give you 2-5% cash/points back that are no brainers. I get 3-5% cash back on gas purchases and the cards I use for them don't charge me any fee, why wouldn't I take that?
No its not going to make you rich, but its literally free money for things you would buy anyways. I do caution about things like the Platinum card, it could get you to spend more than you were planning to so I don't suggest it to most. But get a couple of no fee cards at least to start and then consider cards with annual fees. Look for ones that will give you some coverage on rental car insurance if you ever rent cars, that alone is a huge money saver and gives you peace of mind.
I’m on the opposite end. I think total fee avoidance can cost people. I keep a spreadsheet of the fees/value redemptions so anytime the wife is curious I can deliver the number on value/cost
It has gotten ridiculous in what they offer now. I struggle to justify the $695 because most of the stuff isn't really as useful as you think. I got it for the lounge access originally and then realized unless you order a few drinks every time that access isn't really worth all that much.
Really? I rarely get an alcoholic drink, yet I find lounge access to be one of the best benefits of the card.
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Originally Posted by Willy702
I get the digital stuff only because I get credit for it, but I wouldn't subscribe if not for it as an example.
And I could not imagine not having SiriusXM in my car. That, and a subscription to the NY Times, which I've had for many years, far longer than AmEx has been paying for them.
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Originally Posted by Willy702
And just try to find anything useful at Saks for $50!
But even better is something another poster came up with in a similar discussion: Buy a gift card and then combine it to use with a $100 purchase in the next six-month period. It's not something I had ever thought to do, but this poster said that they had and had received the usual $50 statement credit after purchasing the gift card and then the regular $50 statement credit when they made the $100 purchase.
Really? I rarely get an alcoholic drink, yet I find lounge access to be one of the best benefits of the card.
And I could not imagine not having SiriusXM in my car. That, and a subscription to the NY Times, which I've had for many years, far longer than AmEx has been paying for them.
But even better is something another poster came up with in a similar discussion: Buy a gift card and then combine it to use with a $100 purchase in the next six-month period. It's not something I had ever thought to do, but this poster said that they had and had received the usual $50 statement credit after purchasing the gift card and then the regular $50 statement credit when they made the $100 purchase.
Amex audits the credits and will claw back the credit for purchasing the gift card IF THEY FIND IT.
I have a Fidelity Visa card, 2% back on Everything, auto deposited in my account when it exceeds $50. No annual fee. I buy everything with a card. Aside from the cashback feature, I like using a card for one simple reason, when I buy gas, I don’t have to prepay, prior to pumping and dealing with the idiots behind the glass.
I find a lot of value with the lounge access even though I don’t drink. At the moment it’s card hold plus 2 guest, next February it’s card holder only + 50.00 per guest.
Just a couple of additional notes to the above:
1. That $50/guest fee is only applicable for the relatively few (~15-20) Centurion Lounges, not the ~1,400 lounges under the Priority Pass program.
2. And even for the Centurion Lounges, you can avoid the $50 guest fee by charging $75k annually to the card. That shouldn't be difficult for many Platinum Card holders.
Amex audits the credits and will claw back the credit for purchasing the gift card IF THEY FIND IT.
It's a risk, but Do you feel lucky? Do you??
It’s not an issue if you are making the purchase in store
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