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US Credit Card with the best benefits?
- Thread starter Trojita
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UpperCaseN
Member
I <3 my amazon.com credit card. every dollar spent gets you 1 point, which is worth 1 penny. depending on how you spend your points (purchases on amazon.com, various gift cards, even cash back) it basically means that every $1 you spend is actually 99 cents. Adds up over time, especially if you're just going to use a credit card anyway.
As always, BE CAREFUL WITH CREDIT CARD DEBT. people without control can easily dig their own graves.
As always, BE CAREFUL WITH CREDIT CARD DEBT. people without control can easily dig their own graves.
Looking into the Amazon, as well. What is the difference between the $30 promotion and the $40? Different card/terms/etc?
I would try to get an Amex for your first card. Have to pay that shit off every month and it builds good credit.
Also, BE CAREFUL. So easy to get into obscene amounts of debt.
I would try to get an Amex for your first card. Have to pay that shit off every month and it builds good credit.
Also, BE CAREFUL. So easy to get into obscene amounts of debt.
First things first: Whatever credit card you get, PAY IT OFF IN FULL EVERY MONTH, especially when you're first starting out.
For your first credit card, the Chase Freedom might be pretty good. That was mine, and you get 5% cashback on different categories that rotate every 3 months. The benefits are good too, such as a $25 Amazon giftcard for every $2500 spent.
I love Amazon too, but I try to stay away from retailer-specific cards. I don't need any more encouragement to blow my money at Amazon or Best Buy.
Once you've progressed a bit, I highly recommend the Capital One Venture card. 2 miles for every dollar spent, which essentially equates to 2 cents toward travel for every dollar spent.
I've built up close to $500 in airline travel already, and I've had the card for less than a year.
For your first credit card, the Chase Freedom might be pretty good. That was mine, and you get 5% cashback on different categories that rotate every 3 months. The benefits are good too, such as a $25 Amazon giftcard for every $2500 spent.
I love Amazon too, but I try to stay away from retailer-specific cards. I don't need any more encouragement to blow my money at Amazon or Best Buy.
Once you've progressed a bit, I highly recommend the Capital One Venture card. 2 miles for every dollar spent, which essentially equates to 2 cents toward travel for every dollar spent.
I've built up close to $500 in airline travel already, and I've had the card for less than a year.
I have a 1% rebate rewards Visa. 0.5% cashback on the first $3000, and 1% after that. I just got $122 back for my 2011 purchases.
Discover, if you buy things via shopdiscover.com, you also get cashback for buying gas from month to month.
Amazon card is good too, ordered a transformer prime case from Amazon, used the points I had, final costs came to be $0.00
And discover card can now link to your amazon account, allowing you to use your discover points on amazon purchases.
Amazon card is good too, ordered a transformer prime case from Amazon, used the points I had, final costs came to be $0.00
And discover card can now link to your amazon account, allowing you to use your discover points on amazon purchases.
turnbuckle
Member
First things first: Whatever credit card you get, PAY IT OFF IN FULL EVERY MONTH, especially when you're first starting out.
For your first credit card, the Chase Freedom might be pretty good. That was mine, and you get 5% cashback on different categories that rotate every 3 months. The benefits are good too, such as a $25 Amazon giftcard for every $2500 spent.
I love Amazon too, but I try to stay away from retailer-specific cards. I don't need any more encouragement to blow my money at Amazon or Best Buy.
Once you've progressed a bit, I highly recommend the Capital One Venture card. 2 miles for every dollar spent, which essentially equates to 2 cents toward travel for every dollar spent.
I've built up close to $500 in airline travel already, and I've had the card for less than a year.
Instead of a retailer specific card that gives cash back you prefer to item specific bonuses like ff miles? Different strokes I guess
I love my Amazon card. I tend to buy most of my non-perishables from their anyways, so getting 3% cash back on those purchases is a nice bonus. 2% back on gas and dining, 1% back on everything else. They were giving 10% back on digital purchases for awhile too 
.Anywho, yeah, whichever card you go with make sure you pay that balance down to 0 every month. Don't let anyone tell you differently. You shouldn't be paying anyone to spend money - follow this advice and instead you'll be getting paid (both in the interest accruing in your checking/savings accounts during the weeks you have to pay down your balance as well as in the cash back rewards). It really does add up over time.
You're right--it really depends on what your financial goals are.Instead of a retailer specific card that gives cash back you prefer to item specific bonuses like ff miles? Different strokes I guess
Anywho, yeah, whichever card you go with make sure you pay that balance down to 0 every month. Don't let anyone tell you differently. You shouldn't be paying anyone to spend money - follow this advice and instead you'll be getting paid (both in the interest accruing in your checking/savings accounts during the weeks you have to pay down your balance as well as in the cash back rewards). It really does add up over time.
I'm limited by my budget each month on "fun stuff" purchases, so I wouldn't reap the benefits of an Amazon rewards card nearly as much as some here. My wife and I have family and friends all over the country, plus we want to start traveling internationally--thus, an airline rewards card is perfect for us.
To the OP--just make sure that if you decide to get a retailer-specific credit card, that you don't use it as an excuse to blow more money at said retailer. That's why those retailers offer credit cards--because research shows that you're more likely to shop there more often after you get it.
Read this.
http://www.redflagdeals.com/features/credit-card-rewards-head-to-head/credit/?page=1
Short answer, MBNA Smart Cash Mastercard.
No annual fee
3% cash back on gas and groceries (5% back for the first 6 months)
1% cash back on everything else
EDIT: But make sure to read page 5 because another card may be better for you.
I have this too, but for some reason I feel like it's not the best bang for your buck, so to speak. I've heard AMEX has really good rewards programs.
They all hover around 1%, none of the "Better percentage on X" cards really add up to anything with my purchasing habbits.
PeakPointMatrix
Member
I got the Chase Freedom card recently. How do you check your rewards and cash back stuff?
As others have said, look into the Chase Amazon Visa or the Discover More card.
I use both, and really feel they are the best cards on the market for rewards.
I only use the Amazon card for my amazon purchases, everything else is on my Discover card for cash back.
To build credit this is what you do:
Your credit card = your debit card.
Pay all the bills you can with the card. Pay for gas, groceries etc...
Keep a bank ledger.
Every purchase you make on the card you deduct from you bank account like it was a debit card transaction.
You then pay the credit card in full every 1-2 weeks.
As long as you are disciplined and do not spend the money in your bank account, your balances should match up.
Doing this earns rewards, and you pay no interest on the credit card. Make sense?
I've been doing this for years and it works great IF you are disciplined to do it. The last thing you want to do is rack up the card and can't pay it off.
I use both, and really feel they are the best cards on the market for rewards.
I only use the Amazon card for my amazon purchases, everything else is on my Discover card for cash back.
To build credit this is what you do:
Your credit card = your debit card.
Pay all the bills you can with the card. Pay for gas, groceries etc...
Keep a bank ledger.
Every purchase you make on the card you deduct from you bank account like it was a debit card transaction.
You then pay the credit card in full every 1-2 weeks.
As long as you are disciplined and do not spend the money in your bank account, your balances should match up.
Doing this earns rewards, and you pay no interest on the credit card. Make sense?
I've been doing this for years and it works great IF you are disciplined to do it. The last thing you want to do is rack up the card and can't pay it off.
Log into your account on Chase's website. Unless you've spent quite a bit of money, you are unlikely to have very many points though. That is, unless you took advantage of their "spend $500, get $300 back" deal that they had going for new card holders a while ago.
There are secured credit cards, which involves you basically depositing the money, and then spending it with the card to build up credit. I've always thought of them as more "credit repair" cards, and not "credit building" cards though. If a regular credit card can be acquired, then that is the way to go. Unless the person applying for the card is just horribly irresponsible.
Jim E. Rossler
Banned
I thought they look for you paying a balance over time rather than paying it all back every month when evaluating your credit
Because otherwise you're really just using it as a debit card with benefits, you haven't shown you can pay money you dont have back over time
Because otherwise you're really just using it as a debit card with benefits, you haven't shown you can pay money you dont have back over time
This thread has some good info: http://www.neogaf.com/forum/showthread.php?t=442777
faceless007
Member
This is a good site to read info on various cards and rewards programs.
I went with a cashback card instead of a points card because the value of your rewards is constant. With points cards, the value depends on what you redeem them for and what specific deals they have going on at the time, so the redemption value might end up being less than $0.01/point.
I went with a cashback card instead of a points card because the value of your rewards is constant. With points cards, the value depends on what you redeem them for and what specific deals they have going on at the time, so the redemption value might end up being less than $0.01/point.
I don't think this is true at all. They make money when you use the card, whether you have a balance at the end of the month or not. Obviously they'd love to make interest off of all their customers, but they don't mind someone that pays their bills on time either. That is the advice I've always heard anyway, and it seems to be true from my own experience.
Maybe it's personal preference, but I like the points cards. There are cards with 5% back at Amazon, and that can be redeemed during sales for gift cards (maybe 10,000 points is a $50 gift card, but gifts cards are 20% off when you redeem. You get the idea). I guess it all depends on the card.
What I really love is cards that give you free money for applying. There was a Southwest Rapid Rewards Visa offer on a deal site a week or two ago, that gave 50,000 points after your first purchase. That could be turned into either $500 in Amazon gift cards, or $800 (I think) in Southwest flights. It had a yearly fee, but the annual point bonus covered it if you needed the flight. There are a bunch of deals like that for people with good credit.
Have you ever called Chase to plead your case? They've got a reconsideration number (I can't think of it off the top of my head though).
turnbuckle
Member
There may be some truth to that, at least I've heard it parroted about my entire adult life (29 now). I didn't care for this conventional wisdom though and have never paid a cent of interest. Every so often my Discover and Amazon card credit limits are increased anyways and I have a good credit score. So, whatever truth there is to that it's not like you're getting docked for paying your balance on time either.
They don't. That is irrelevant to your credit score.
Not if you pay it off every month!
Pretty sure you can't build/establish credit paying it off every month.
turnbuckle
Member
Sure you can
You can. Again, whether or not you pay off your card in full is entirely irrelevant to your credit score.
You absolutely can. It's getting that first credit card that seems to be difficult for some people. Paying it off will build credit though.
br0ken_shad0w
Member
<3 my Chase Amazon Rewards card. If they weren't cracking down on rewards abuse, I would have used it pay my tuition as well.
I do think for overall benefits Amex is the best. I just don't spend that much to justify the cost. (yet)
I do think for overall benefits Amex is the best. I just don't spend that much to justify the cost. (yet)
Why would they care if you did this? I know people that buy cars on their CC's, and then take out 0% interest loans to pay off the CC, thus accruing a shitload of points while still having 0% financing.
Unless I'm misunderstanding what you are doing.
Does this work? I give it a try next time I apply.
). Anyone else used it before?I've never had to do it (may need to soon; Thinking about trying for that 50,000 point deal I mentioned lol) but from what I've read, you basically call them and tell them why you should be given their card. I'd imagine that they'd go through your credit history by hand and see if there isn't some way you can get their card, even if it's with a fairly low credit limit.
Every time there is a CC deal on the deal sites, there are always people in the deal thread with the story that they were denied until they called the number. I can't guarantee that it would work for you, but it would be worth a shot I'd think.
I also love my Amazon credit card. I only got it last summer as a way to get a $40 gift card towards buying Shadows of the Damned, but now I use it all the time.
I have a chase freedom and I love it. I use it for everything, earn points and then cash them in for statement credit. 5% cash back in rotating categories, 1% on everything else. When you shop online look at the Ultimate Rewards website and you can get up to 10% cash back on things. Then I can cash them in for statement credit. When I pay it all the way off, it is like free money. The few times I have not been able to pay it off in one month, the amount of points I earned was always more than my interest charge.
faceless007
Member
That's what I've been doing since 2005 and my credit score's really good.
I have an AMEX Blue Cash. I'm on the old tier schedule having to spend $6,500 to get full benefits of cashback. There's easy ways to get around it such as buying US coins from the Treasury, deposit coins into my bank account and pay off the amount on the card.
AMEX has always been good to me, I had a questionable charge on my card, called and taken off my account. Took all of 2 minutes. I have a return protection with them for up to $300 and they offer free extended warranty for up to a year. I could also purposely break something and it'll be under their purchase protection.
Also lost my card once, they overnighted a new one for free. Honestly AMEX customer service is almost on the level of Amazon and Apple.
AMEX has always been good to me, I had a questionable charge on my card, called and taken off my account. Took all of 2 minutes. I have a return protection with them for up to $300 and they offer free extended warranty for up to a year. I could also purposely break something and it'll be under their purchase protection.
Also lost my card once, they overnighted a new one for free. Honestly AMEX customer service is almost on the level of Amazon and Apple.
It's not an easy first to get per se. Doesn't really hurt to try if you have no credit at all, well I take that back if you're going to apply for credit, do it all at once.
iNvid02
Member
no the initial visa is a regular credit card specifically designed for people starting out, they only give you £200 credit to start with though with the limit being £2000
its available from barclays in the UK, US might have something similar
crazy monkey
Banned
td has 2.5% with no fee i think
USAA Rate Advantage Mastercard
6.9% APR, no annual fee, and 1% cash back. Haven't found a reason to switch yet. Not sure if everyone is eligible to apply, however. USAA hasn't fully opened up their portfolio of services to non active-duty folks.
6.9% APR, no annual fee, and 1% cash back. Haven't found a reason to switch yet. Not sure if everyone is eligible to apply, however. USAA hasn't fully opened up their portfolio of services to non active-duty folks.
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