Best credit card for me? Help me find the answer!

For just about anything you want to get off your chest about credit cards.
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Beyond Life
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Best credit card for me? Help me find the answer!

Postby Beyond Life » Mon Aug 30, 2010 2:16 am

I need help finding the best credit card for me and my requirements. I have looked elsewhere on other sites but it's like they have an ulterior motive. This is what I would ideally want in the perfect card-

  • There can't be an annual fee
  • I need to get at least 1% cash back and hopefully higher in other categories of spending
  • Customer service needs to be good (no foreign call centers please)
  • I don't plan on carrying an interest rate but want a good APR for if I ever do.
  • My credit score is average to above average.
Are there any recommendations for what the best credit card for me is?


jeffysdad
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Postby jeffysdad » Mon Aug 30, 2010 3:48 pm

Chase Freedom, Fidelity Amex (FIA/BofA), Discover, Amex Blue Cash...

All offer more than 1% cashback
Fidelity Amex and Discover have U.S. call centers, and I believe Amex, too
Fidelity Amex has the best website; the others are about equal, imo
Fidelity Amex has the simples rewards structure (straight 2%); Freedom and Discover are about tied. Amex has tiers and requires spending in excess of about 25k/year to make it worthwhile.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

Beyond Life
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Postby Beyond Life » Mon Aug 30, 2010 4:09 pm

Thank you for the advice! I went to the Fidelity page and it says I need a certain kind of Fidelity broker account to get the card. I don't have any real need for an investment account right now but I liked the 2%. The thing is it says I have to spend $15,000 on it before I start getting 2%.

:(

jeffysdad
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Postby jeffysdad » Mon Aug 30, 2010 5:21 pm

I don't see anything about a 15k requirement on the website.
I did find...
"Customers earn 2 points for each $1 in net retail purchases. Once you reach 5,000 points, they can be redeemed automatically or on demand for cash at a 1% exchange rate into an eligible Fidelity account (i.e. 5,000 points = $50 deposit)."

You do need a brokerage account or an IRA. I have my rewards deposited into a Roth IRA. I don't think there's any cost for opening an account to receive your rewards deposits.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

Beyond Life
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Postby Beyond Life » Wed Sep 01, 2010 8:14 pm

Sorry I was looking at the wrong card. The Visa Signature is the one with that requirement. I don't know about opening a Roth IRA because I am somewhat young and want access to my rewards now. If I opened a brokerage account with Fidelity to get the card but never traded with it do you think there would charge inactivity fees on it?

jeffysdad
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Postby jeffysdad » Wed Sep 01, 2010 8:23 pm

You would have to check with Fidelity, but I think not.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

rusnak
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Postby rusnak » Sun Sep 05, 2010 2:46 am

The best credit card *might* not be a rewards card necessarily. Sometimes getting rewards motivates the person to spend more and that defeats the entire point of them. That's not a problem we all have but for those that do they should stay away from reward cards I think.



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