A discussion on Airlines got me thinking about the best vehicle to incur monthly debt for which the full balance will be remitted at end of the month to reap the rewards of Points, Cashback, or Miles.
I've had a couple of credit cards in the past and have consolidated to just two right now. The first notable credit card was from Pentagon Federal Credit Union (PenFed) where they offered 10% off on gas. The only other time I had such a reward on gas was working for ExxonMobil but it was pre-tax deduction not post-tax like PenFed. It was a Visa card.
Currently, I'm working with two Visa rewards cards from Fidelity at a 2% Cashback going straight to my IRA.
The only complaint I had for being a previous AMEX owner is that it is not accept everywhere and my reward points or Cashback is identical or worse than Visa so I currently have no incentive to upgrade.
What's in your wallet and why?
update: My 2% with Fidelity Rewards is on everything and not exclusive to certain categories. Thanks @Xiiixiii" for reminding me. :)
Easy Chase Sapphire Reserve. And I suggest you hurry. You can still receive the 100,000 signup bonus through end of March only by applying in person at Chase Bank (not online).
3X per dollar spend on travel and dining. Points are transferable to a ton of different airlines like Singapore and Korean which are very valuable if your intent is to travel biz/first class international.
The annual fee is $450 but includes a $300 credit for travel related items (this can include things like paying tolls, Subway fares, etc). So annual fee is $150 and benefits far out weigh it.
+1
I currently have a Sapphire Preferred, but thinking about transferring over to a Reserve.
So far, heard only good things about this card from friends who own one.
+1 as I got the Reserve when the 100K bonus was still there.
As an FYI for Amex Platinum card holders the annual fee is about to be bumped later this year from $450 to $550.
Yeah, but you get 200 travel credit and 200 in feee uber. So it's going down by 100.
Absolutely love it. I use the CSR most of the time, but the Amex plat is clutch.
bingo...just got this... 3x points on travel and 2x points on dining = easy winner, even if you take out to 100k signup bonus.
Same, went to a branch last week to get the CSR. $450 fee - $300 travel credit - $100 TSA pre Check credit it will cost me $50 this year. Since I am canceling my sapphire preferred which was $95 I am actually saving money on the fees
Also recommend getting the chase freedom as well. It has rotating 5x categories (this quarter is gas stations) so i use my freedom on the 5% category and my CSR for everything else. You can then combine the pts from both cards to use in the chase ultimate rewards portal / transfer to partner airlines / hotels.
Honestly, for a general travel card, i'm not sure how you bet the CSR. Amex platinum has some travel benefits that CSR doesn't, but the benefit isn't there unless you are spending a lot on travel vs. are saving so you can travel (my case)
Go for the trifecta: Chase Freedom unlimited for non-bonus spend, Chase Freedom for rotating categories, and Chase Sapphire Reserve for dining/travel
Discover Cashback card, 5% cashback on certain purchases and 1% on everything else. I always tend to prefer cash as I seldom fly outside of work so miles aren't nearly as good of a proposition.
Amex making some solid changes. 200 uber credit. 5x airlines and hotels. More centurion lounges as well.
Chase Freedom and Freedom Unlimited. I use them for cash back. I work a lot and spend a little. Can't justify the annual fee cards and miles and points wouldn't accrue fast enough to actually get a benefit from them within a reasonable timeline.
I am a cash back guy. Citi double works out well, basically like having a 1% rebate on everything when you buy and another 1% when you pay. Adds up pretty quick. I will consider airline miles when I travel more frequently - not worth it for me now.
Why not swing over to Fidelity Rewards for 2% on all? I social engineered both cards to 2% after a quick 10 min chat with the lady at Customer Service. :)
Looked into it, I believe it required a fidelity investment account.
I like my US Bank Cash+ card:
5% cash back in 2 categories that you choose. 2% cash back in 1 category that you choose. 1% cash back on everything else.
It also has a $100 sign-up bonus reward and no annual fee.
5% in categories I can choose? What in tarnation
only complaint on sapphire reserve is lack of airport lounge access. my home airport only take amex plat
yup, agreed...but if you spend a decent amount on dining and travel each year and then realize you're getting 2x and 3x points on those PLUS the fact that if you redeem points for travel it's 50% more than cash, you're really getting like 3x and 4.5x :-)
WallStreetOasis.com Are they banking on the fact that some will carry a positive balance MoM in order to pay off others who are consistent with their payments? Reward points have to come from somewhere and I know some of it is of course fees to Merchants but it is systematically unsustainable if everyone decided to have a zero balance monthly statement.
Citi Prestige is really good and a sexy looking card. If you have other reward cards it is helpful, but only if you go on vacation 1-2 times a year. The main feature that makes them a winner is stay 3 nights straight at the same hotel and the fourth night is free. As a young guy, if i have a week of vacation im going to two or three different spots followed by several long weekends. So I'm not sure how many times I'll be somewhere 4 nights and 5 days, but I'm sure older people who are spending a week in Hawaii or a week at Disney world would find it useful.
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