Comments on: Choosing Credit Card Rewards

By: Will H

Will H — Tue, 19 May 2009 19:23:03 +0000

I use a combination of 3 credit cards that comes close to maximizing the rewards I can earn from my normal spending. I funnel virtually all spending through those 3 cards and pay them off every month.

You can use this rewards calculator to find an optimal combination of N credit cards for your normal spending:
http://www.creditcardtuneup.com/

The tool will show you what you can earn with the best rewards card for you, the best 2 rewards cards for you, the best 3 rewards cards for you, etc. Then you can pick the rewards/hassle sweetspot that is best for you.

Note that a few of the better rewards cards are the Citi Driver's Edge card, AmEx Blue Cash, Fidelity Signature Rewards Visa, and the Capital One No Hassle Miles Ultra for Professionals Visa.

By: Acrow

Acrow — Tue, 19 May 2009 00:51:29 +0000

Well, let me be the first to tell you that a credit card can be a "safety net" in the event that you're in a crunch in between paychecks, and especially renting cars. Granted, you can use your debit card, but you better have the money on it, becuase credit and debit cards work completely different in that respect. But even if you just make small payments that you pay off in full every month, it's another way to build credit, which you can't build alone just by paying off loans. Credit and the scoring system is designed to where you should show that you can handle different types of credit both installment(car,furniture,appliance,personal signature, and mortgages) and revolving (credit cards and line of credit). An example of a balanced mixture of credit is 3 credit cards (2 major and one department store card) and either one paid or currently paying installment account.

Now while it is a good thing to have a credit card in the event of emergencies that may come about that could potentially wipe out your checking account if you use that, it's important to know the true meaning of needs vs. wants. Credit cards are not bad, it's the judgement of some people that use them. They easily confuse the 2 and that's where the problems arise. As long as you keep your priorities straight, and use credit like it's supposed to be used, then you should be ok.

A credit card you should look for, ideally is one without an annual fee and a low or 0 introductory interest rate. But my advice is to keep the balance no more than 30% of your total available credit to minimize the interest anyway.

Chase, Bank of America, and Citi all offer fairly good cards

I hope this answer helps out,

Good luck!

By: john z

john z — Mon, 18 May 2009 02:09:35 +0000

I personally suggest you look for no annual fee cards as well as cards with benefits. There are cards that cover rental car insurance, when travelling you can skip ahead of the ticket line etc. Low interest ones, usually comes with a fee.

By: magicsampo

magicsampo — Sun, 17 May 2009 22:55:53 +0000

When I use my Emigrant Direct credit card I get cash back deposited into my online savings account I have with them. The interest rate on the savings account is great, no fees or minimum balance. No annual fee for the card either.

By: seiken

seiken — Sun, 17 May 2009 13:46:52 +0000

this site has a bunch of different reward options for you. You should read over the info and choose the best for you.

The page for REWARD CREDIT CARDS has a Capital 1 no hassle card for students too. You might like that one. Anyways this is where i go for cards. Hope it helps.

By: Daryle L

Daryle L — Sun, 17 May 2009 08:38:13 +0000

A reward card is a credit card that offers all the conveniences of a credit card along with great frills like gas at a discount, cash back, discounts on select merchandise, flying miles and more. In fact, today many cards allow customers to opt for reward points or cash back and a customer can change easily from one option to the next.

Whenever you use a card you will earn points based on the value of your purchases. Accumulated points can then be adjusted against card fees, merchandise, or as cash back. Points can be redeemed for airline rewards, cash rebates, movie or concert tickets, or things like tours, electronic goods, or household goods.

An extremely popular marketing scheme people prefer to get cards that offer incentives over cards that offer no frills at all. However, cards that have reward schemes generally have a higher APR or annual percentage rate.

• Always weigh the pros and cons carefully before you select a rewards credit card. Find out whether it will in actuality be beneficial to you.
Apply online for a best reward card at: http://www.credit-card-gallery.com/Reward_Card.html

By: tattoogirl333

tattoogirl333 — Sun, 17 May 2009 06:55:44 +0000

I have the CitiCard Rewards. It's pretty good, and there rewards are nice. I used to have the American Express, but I didn't love it.

CitiCard Rewards Site:
https://www.accountonline.com/ACQ/Chooser/ViewAll?ProspectID=1A3D03B4316C40B7A9E0AA6434914A2A&siteId=cb&SEARCH_CRITERIA_1=REWARDS

One warning… almost every credit card company will have your points expire after a certain amount of time. I think most are either 3 to 5 years. Just be aware…

By: Happy Cow

Happy Cow — Sun, 17 May 2009 05:27:03 +0000

if you travel alot go for the airline miles.. or if there's somewhere you go once a year every year (like my grandparents to hawai'i) go for the miles.. they don't pay for their ticket to hawai'i every year.. damn them.. if not, go for the cash back.. and the finance charges vary with the companies. good luck.

By: jtk

jtk — Sun, 17 May 2009 05:17:27 +0000