best card(s) to get?

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best card(s) to get?

Postby Recent » Fri May 01, 2015 10:37 am

Hello, I started this account a while back but came to conclusion I couldn't get any cards. Its been 2 years now and I have a perfect record on my only credit card with WF.

I would prefer a card that I could start using for traveling (flights, hotels, etc), but I'm not sure what is the best card I could apply for. I see all of these cards that give great first deal if you apply for them but is the card worth it in the long run?

Reccomendatios please.


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lg8302ch
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Re: best card(s) to get?

Postby lg8302ch » Fri May 01, 2015 10:53 am

Recent wrote:Hello, I started this account a while back but came to conclusion I couldn't get any cards. Its been 2 years now and I have a perfect record on my only credit card with WF.

I would prefer a card that I could start using for traveling (flights, hotels, etc), but I'm not sure what is the best card I could apply for. I see all of these cards that give great first deal if you apply for them but is the card worth it in the long run?

Reccomendatios please.

"Best card" is relative - What are you looking for? Cash back for travel purchases or miles/points that you can transfer to partner programs. What kind of travel? Are you looking for premium cabin or coach class? We also need a bit more info about your Fico scores. What is your current limit and util on WF? If a card is worth on a long run depends on your spending habit and selection of the "right" card for you. Please give us some more info on how you will use that card for earning. Categories and approx. spend on that card.

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Re: best card(s) to get?

Postby Ghoshida » Fri May 01, 2015 12:29 pm

Recent wrote:Hello, I started this account a while back but came to conclusion I couldn't get any cards. Its been 2 years now and I have a perfect record on my only credit card with WF.

I would prefer a card that I could start using for traveling (flights, hotels, etc), but I'm not sure what is the best card I could apply for. I see all of these cards that give great first deal if you apply for them but is the card worth it in the long run?

Reccomendatios please.



As LG mentioned above, we need some more info about you.

Broadly, there are 3 kind of cards with benefits: (a) cashback or points-equivalent-to-cashback (e.g. Chase Freedom, Citi DoubleCash, Barclays Sallie Mae, Discover It, Barclays Arrival, Cap One Venture); (b) partner-transfer cards (airline / hotel specific like Chase UnitedMiles, Citi AAdvantage, more generic like Chase Sapphire Preferred, AMEX Everyday Preferred); and (c) high-end perks for big spenders and frequent travelers (AMEX Platinum, Chase Ritz-Carlton)

In general, the (a) kind has either 0 or low AF, and don't require much thinking when it comes to earning and burning rewards. You spend money (sometimes think about category specific extra cashback), earn the cashback or points, and redeem them for plain cash or against your purchases.

The (b) kind has some AF ($50-$125) and needs some thinking; do you know which partner airline or hotel serves your needs best, whose points have best value, whether award stay or tickets are easily available, etc. Once you have figured out how to play the game, rewards are higher than type (a) cards.

The (c) kind has very high AF (talking $300-$500 here) and are meant for serious high-ballers. They have generous airline credits, lounge access, top-tier concierge programs, plus a good chunk of benefits that you get in type (b) cards.

You might also look at sign-up bonuses; many cards give good sign-up bonuses (linked to some min spending in say 3 months) and the bonuses generally increase with annual fee. In many cases, the bonuses are good enough to cover for 3-5 years of annual fee; beyond that your spending will tell you whether the card is justified or not.

One final thing. You told us you only have one card. Are you going to remain a low-number-of-cards person? Some people believe in simplicity and carry 1-2 cards; some other want to maximize every potential rewards and might carry 8-10 cards and have another few in their sock-drawer.
AMEX BCE | PRG || Barclaycard Sallie Mae || Capital One QuickSilver | Venture || Chase Freedom | Sapphire Preferred || Citi Dividend || Discover It || UFCU Great Rate || US Bank Cash+ #1 | Cash+ #2 | Club Carlson Plat | REI || Total CL $144.2k + PRG NPSL, not counting AU

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Re: best card(s) to get?

Postby Recent » Fri May 01, 2015 5:43 pm

I would like to have a card that will allow me to travel and would prefer in a point system rather than cash back. I am almost out of school and will have a secured job, though I am not sure if it is able to go with your type of card you explained as type "c". Do you or anyone you know use those type of cards? If so, what annual income are they making?

If opting for a point system for traveling expenses, is it better to have multiple cards that go towards that one specific category (traveling), or would it be better to disperse it over time?

I have not checked my FICO score yet, but I assume it would be good because my utilization has always been at 0%. I have paid off every single payments before my statement comes in so it comes to a balance of 0 everytime (though there are times where I heavily use more than 30% of my maximum credit limit), but again I pay it all off before it gets sent to the 3 companies. I play it safe and pay 3-4 days before the deadline and don't use my card 2-3 days after the deadline.

I have stuck with only my WF credit card because previously I knew from my history I wouldn't be able to get a new card as I had no history or usage of the card. I now have 2 years of usage with it.

I don't mind having many cards, but I am new to the credit card scene so any advice on how to maximize these awards would be great! Also if you guys don't mind sharing how you have done it and how much it has actually benefited you guys from taking advantage of having multiple cards would be great!

Thank you!

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Re: best card(s) to get?

Postby CarefulBuilder14 » Fri May 01, 2015 6:11 pm

Do you normally use a particular airline or hotel chain? Do you expect your job to involve a lot of flights and hotel stays, or will your travel just be for pleasure / personal purposes?

I'm not sure what you mean by "disperse it over time".

Sharing the budget you expect to have, or your major spending categories, will make things easier for us. For example, I spend a lot more money on groceries than I do in restaurants. I like to travel sometimes, but I'm not loyal to a particular airline or hotel chain. My chosen cards reflect this.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
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Letting new accounts cool off since May
Really not sure what I'll add next or when

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Re: best card(s) to get?

Postby Vermonster » Fri May 01, 2015 6:44 pm

Recent wrote:I would like to have a card that will allow me to travel and would prefer in a point system rather than cash back. I am almost out of school and will have a secured job, though I am not sure if it is able to go with your type of card you explained as type "c". Do you or anyone you know use those type of cards? If so, what annual income are they making?

If opting for a point system for traveling expenses, is it better to have multiple cards that go towards that one specific category (traveling), or would it be better to disperse it over time?


IMHO the "type C" cards are for generally people making over $100k, or able to funnel reimbursed business expenses through a personal card. You tend to have to travel a lot to make those worth it over some of the top end "Type B" cards.

As to points systems; that is all personal preference. In general Chase UR, and Amex MR are considered the best points systems. Find the card that fits your spending best, and it will always be the best card.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

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Re: best card(s) to get?

Postby Nixon » Fri May 01, 2015 6:49 pm

Vermonster wrote:
Recent wrote:I would like to have a card that will allow me to travel and would prefer in a point system rather than cash back. I am almost out of school and will have a secured job, though I am not sure if it is able to go with your type of card you explained as type "c". Do you or anyone you know use those type of cards? If so, what annual income are they making?

If opting for a point system for traveling expenses, is it better to have multiple cards that go towards that one specific category (traveling), or would it be better to disperse it over time?


IMHO the "type C" cards are for generally people making over $100k, or able to funnel reimbursed business expenses through a personal card. You tend to have to travel a lot to make those worth it over some of the top end "Type B" cards.

As to points systems; that is all personal preference. In general Chase UR, and Amex MR are considered the best points systems. Find the card that fits your spending best, and it will always be the best card.


TYP aren't horrible either and and to it's advantage, at least the Prestige offers bonus categories vs the Platinum as well as other fringe benefits besides the lower AF for AU.
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Re: best card(s) to get?

Postby takeshi » Mon May 04, 2015 9:01 am

Recent wrote:I would like to have a card that will allow me to travel and would prefer in a point system rather than cash back.

You really need to take a look at your spend and run the numbers to determine what would be the best fit. For point/miles rewards programs you also need to look at redemptions. Most points/miles cards will require a significant amount of spend to realize their benefit though some points/miles cards are basically cash back cards. If your spend volume is relatively low then cash back may be better suited to you.

Best is always highly subjective on any topic and you have to make sure that you clarify what you mean when you use the word. In this context, we'd need to know your major spend categories and volumes to give you relevant recommendations. Don't just assume that the desire to travel means that a travel card is a best fit.

Recent wrote:If opting for a point system for traveling expenses, is it better to have multiple cards that go towards that one specific category (traveling), or would it be better to disperse it over time?

Again, no one-size-fits-all answer to your question on "better". I have sufficient spend and preferences to make it worthwhile to me to use a combination of UR and cash back cards. That doesn't, however, mean that this is a good fit for you. You need to run the numbers for you spend to aid you in your decision making.



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