Comments on: Which Credit Card Reward Program Is Right For You?

By: Gal E

Gal E — Mon, 07 Sep 2009 03:15:01 +0000

Hi,
You could find out and compare at this site under "Select By reward":
http://track.acclaimnetwork.com/apn_work/scripts/sclick.php?b2s=8790&SUBID=PARAM

By: Nick B

Nick B — Sun, 06 Sep 2009 23:15:54 +0000

citi driver's edge options gives 6% on gas, grocery,drug store for first year — after first year it is 3%. The cash can be only redeemed for auto repair/services or buying new car. It also has 1 cent per mile you drive – not a bad deal in this age of high food/gas prices

second one is chase freedom — gives 3%casback in top 3 categories. If you are patient to wait till you accumulate $200–it gives additonal $50 as bonus — equivalent to 3.7%cashback

By: mrr86

mrr86 — Sat, 05 Sep 2009 13:14:58 +0000

I have a credit card from American Express that pays me 5% cash back on all the purchases I make with no annual fee. I got it from this website http://www.123gocreditcards.com I really recommend checking that site out because it has other rewards cards you might be interested in as well. Good luck.

By: lyndsey7323

lyndsey7323 — Sat, 05 Sep 2009 06:47:22 +0000

Well there are cards that will pay you up to 1.5% on all your spending in general. There are also cards that will pay higher rewards percentages on some categories of spending for travel (car rentals, airline tickets, etc.). For example, the Chase BP Rewards card pays 2% back on airline tickets, hotels, vehicle rentals, and restaurants. Other cards will pay up to 3% back for your spending at restaurants and in some other categories like home improvement (e.g. the Citi Professional card). Still other cards pay up to 6% back on gas, groceries, and drug store purchases (e.g. Citi Driver's Edge). I found all these cards at the rewards calculator site here: http://www.creditcardtuneup.com/.

In general, to maximize your rewards (cash back, etc.), you'll probably want to pump all your normal spending through credit card(s) that pay the best rewards in the categories you normally spend the most. Then, just pay off your balance every month and enjoy the cash back rewards or other rewards.

To find the credit card (or combination of cards) that will pay you the most for your normal spending profile, you can use this rewards calculator:
http://www.creditcardtuneup.com/

You just plug in how much you normally spend in each of the various categories each month and it calculates how much you'll earn from the various rewards cards per year.

By: Buddy

Buddy — Fri, 04 Sep 2009 12:25:51 +0000

There are credit cards that offer 1.5% – 2.0% rewards on all spending. For example, the Capital One No Hassle Miles Ultra for Professionals earns nearly 2% rewards on all spending, but the rewards have to be redeemed on airline tickets. Also, the Fidelity Investments Rewards Signature Visa earns 1.5% cash back on all spending.

You can use this rewards calculator to see which credit card will pay you the most for a given spending profile:
http://www.creditcardtuneup.com/

Incidentally, on the left hand side of that CreditCardTuneUp page toward the bottom, there's a blurb you might be interested in about BigCrumbs being able to save you 36% off your Ebay fees.

By: Question C

Question C — Fri, 04 Sep 2009 11:39:49 +0000

It's a reduction of a non-deductible expense so it isn't classified as income on a personal return.

If the credit card is used by a business, any reward program funds must first be used to reduce the interest expense claimed so that effectively makes it taxable as if it was income.

By: Elisha D

Elisha D — Fri, 04 Sep 2009 05:15:28 +0000

For those who have very good credit and have plans of taking advantage of the reward program, American Express designed a card for you, the Blue Sky Rewards.

What are the reasons why this card is simply for you? It has reasonable interest rate. You do not any annual fee to pay for. You can also take advantage of the 0% introductory rate for your purchases in six months time. It has to be made clear that the introductory rate for balance transfers only applies to those who initiate a transfer when applying online for the card.

The great thing about the Blue Sky from American Express, the credit card rewards program are amazing. There's no annual fee, low introductory rates, and free rewards program with no blackout dates or travel restrictions.

Other benefits offered by the Blue Sky from American Express include auto rental insurance, a Return Protection which credits cardholders with the maximum amount of $300 for purchases that are non-refundable in 90 days. This also includes a year end report.

You may find a great review here:

http://www.rewardcreditcardsite.com/travel-rewards-credit-cards/blue-sky-from-american-express/

By: MsBurgundy

MsBurgundy — Fri, 04 Sep 2009 04:36:42 +0000

It sounds like Card #1 is the American Express Blue Cash card. I'm quite familiar with that card's reward structure.

Assuming your monthly spending is even across the 12-month period, then you should go with Card #1 (AmEx Blue Cash). Here's why: Your average rewards for supermarket spending with card #1 will be 3% (i.e. (5% + 1%) / 2), while your average rewards for supermarket spending with card #2 will only be 2%. Your average rewards percentage on all non-supermarket/gas/drug spending for both cards will be 1%.

Note, however, that to really know the optimal card for you for certain, you should take into account your entire categorical spending profile (including gasoline spending, drug store spending, and any other special rewards categories with either card).

You might find that this credit card rewards calculator is helpful to you:
http://www.creditcardtuneup.com/

By: magicsampo

magicsampo — Fri, 04 Sep 2009 04:25:26 +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.