OT - Credit card Help!

[Shaunsters]

Looking into getting a credit card with good travel rewards... Any recommendations? 27 years old, single, no kids... Was looking to the Chase Sapphire, Chase Sapphire Preffered and the Southwest Visa... Any tips or help is greatly appreciated

 

[Bevo11]

Delta Amex Gold

 

[GetHooked]

Honest to God. I am Mr CashBack Credit Cards. Over the last decade or so, I estimate I have made over $18,000 in cash back on various credit cards.

Every miles card I have seen always gives you a crappier deal than just taking cash back and using the money to buy a ticket yourself.

 

[CallawayItIs]

Honest to God. I am Mr CashBack Credit Cards. Over the last decade or so, I estimate I have made over $18,000 in cash back on various credit cards.
Every miles card I have seen always gives you a crappier deal than just taking cash back and using the money to buy a ticket yourself.

Solid advice. The only time a miles card works out is if you get enough upfront bonus miles to purchase a round tripper. After that, cash back cards are the way to go. IMO.

 

[Shaunsters]

So what would be a good card for that? 27 and I have never ever had a Credit Card! Just my debit card. My credit is very good, so I shouldn't have a problem getting approved

 

[Bevo11]

Look, wife and I each have a Delta Amex Gold card and got 40,000 miles each to sign up. We use it for every purchase and NEVER pay any interest. The renewal is like $90 a year. We get 2-3 free trips each per year and they just gave us each a $300 "partner travel voucher". If you want a miles card it is one of the best. No down side imo.

 

[Bandit]

So what would be a good card for that? 27 and I have never ever had a Credit Card! Just my debit card. My credit is very good, so I shouldn't have a problem getting approved

Preferably, do not get a limit you cannot pay back the next month. 3 months top. Then you start chasing minimum payments and the interest will eat you alive. You can increase your limit as your income increases. Get the card but still try and make your purchases with your debit card. A little discipline goes a long way.

 

[GetHooked]

So what would be a good card for that? 27 and I have never ever had a Credit Card! Just my debit card. My credit is very good, so I shouldn't have a problem getting approved

A good place to start would be Capital One Quicksilver card. It pays 1.5% on every purchase with no limits.

After that, look for specialty cards.

Amex Blue pays 3 % on groceries.

Chase Freedom and Discover have those revolving categories thing. Example - for the next 3 months, I will be getting 5% at restaurants from Discover and 5% on gas from Chase Freedom.

 

[Mindthegap76]

First post on this forum, but I had to chime in and recommend the Fidelity Investment Rewards card: https://www.fidelity.com/cash-management/american-express-cards

If you have a Fidelity account (free to sign up), it gives you a flat 2% cash-back on every single purchase deposited monthly directly into that Fidelity account. If you want cash, you can just immediately transfer the deposit directly to your bank. Zero fee for the card. I haven't been able to find a better deal, although I'll admit that the interface for managing the card is a bit clunky (doesn't go through the standard AMEX website).

EDIT: Agree with the below that you have to plan on paying off the card in full every month. I couldn't even tell you what my interest rate is because I make a payment every couple of weeks to keep a zero balance.

 

[GetHooked]

Bandit is giving you great advice. Cash back cards usually charge a higher rate of interest than regular cards.

I have a rating that is over 830 and I still get crappy interest rates on the card.

I make it "who cares".

It kills the cash back if you are paying interest. I have zeroed out every credit card, every month - for over 15 years.

Don't go the cash back route unless you are planning to pay them in full every month.

 

[acropora]

Chase ink bold. 5xs points on "business" expenses.

My cell phones and internet are on it. Also, you can buy amazon cards at Staples, which counts as an office supply store (and therefore a business expense). We buy most of our stuff off of Amazon so points add up quickly.

good place to read up on various cards: http://thepointsguy.com/category/credit-cards/

Now, get back to telling us if Saban is coming or not

 

[Bevo11]

Shaunsters, there you go pal. You now have as many options as we do coaching names

 

[aowells]

I'm a longtime travel rewards whore and there's one critical thing to keep in mind when evaluating these things: Savings vs. Perks.

For example your Chase Sapphire will give you two nights at any Hyatt, those two nights could cost over $1000 at a Park Hyatt. But if you normally stay in $90 hotels, it's really only a savings of $180 - but with a nice perk!

Same with flights, a free flight might be "worth" $1000, but if you're a bargain shopper that only travels on off-times or seat sales it's not really saving you much, just providing the perk of greater flexibility.

If you're a cost conscious traveller, you're almost always better to just get cash back and spend it wisely.

 

[H-town Horn]

Interesting you mention those, I have them both. We use the Chase Sapphire Preferred for personal purchases, and I just got the Southwest Visa Card to use for work travel only. I had been using the company AMEX but decided why not accrue some points since I fly Southwest all the time.

I used Chase points in Sept for a full week vacation in Destin, FL; paid for everything but food. And still plenty of points left.

Customer service with the Sapphire is outstanding. You call and someone picks up the phone, no automated system, etc.

I can't say how it stacks up with others but when I got the Chase it was considered at the top. So far so good.

 

[Thiggystyle]

http://www.nerdwallet.com/blog/top-credit-cards/nerdwallets-best-rewards-credit-cards/

There are a couple of sites(blogs) that offer comparisons for you. It really depends on how you will use the card (travel, eating out, few big purchases, frequent small purchases...) and what kind of rewards you want AND will use.

Honestly, I would say just don't get a credit card. But I know that in this country you need to establish a good credit history in order to get credit for bigger purchases down the road - car & house. Anything else, if you can't afford to pay cash for it you can't afford it.

Rant over I'll get off my soapbox now.

 

[SFlonghorngirl]

Interesting you mention those, I have them both. We use the Chase Sapphire Preferred for personal purchases, and I just got the Southwest Visa Card to use for work travel only. I had been using the company AMEX but decided why not accrue some points since I fly Southwest all the time.
I used Chase points in Sept for a full week vacation in Destin, FL; paid for everything but food. And still plenty of points left.

Customer service with the Sapphire is outstanding. You call and someone picks up the phone, no automated system, etc.

I can't say how it stacks up with others but when I got the Chase it was considered at the top. So far so good.

I have the Chase Sapphire preferred as well. Amazing customer service. Paid for my flight to Asia and 3 night hotel stay in Boracay.

 

[JKW-Hook 'em]

Chase Sapphire preferred also. I researched extensively and it was the top or very near the top of all reviews comparing cards that earn points to be redeemed...especially if you will use the points earned for travel. I concur with other reviews about excellent customer service.

 

[atxdood]

Honestly, I would say just don't get a credit card. But I know that in this country you need to establish a good credit history in order to get credit for bigger purchases down the road - car & house. Anything else, if you can't afford to pay cash for it you can't afford it.

Agreed that "if you can't afford to pay cash for it you can't afford it," but this goes to the issue of whether you're paying off the card or carrying a balance.

If considering the various options as merely being modes of payment, both credit and debit cards are considerably more convenient than cash. As between the two, consumer fraud protections for credit cards are substantially better than debit cards, and credit cards are more likely to offer cardholder benefits like warranty extensions, car rental insurance, travel insurance, and the like. So for one who isn't going to actually pay interest on the credit line, there are nontrivial benefits to using credit cards beyond simply establishing a credit record.

On the separate point of rewards points vs. airline miles, I gave up on miles long ago, because they're more or less equivalent to a banana republic currency that can be devalued by the airlines at will. Many airlines (e.g., Delta, Southwest) are in the process of raising redemption requirements for popular rewards right now. IMO, unless one is a truly frequent flyer who can benefit from upgrades, lounge access and other perks, chasing miles is pretty fruitless for casual travelers. No opinion on rewards points--to the extent points can be used as/converted to miles, they're subject to the same problems as miles, but if they can be converted to cash or some other benefit having a more stable value, they're considerably superior to miles.

 

[PathDoc]

Southwest Visa. Use it for everything, and pay off monthly. I racked up so many points I've rarely paid for flights in several years, even when they changed the reward rules.