Challenge: Choose your Trio!

For just about anything you want to get off your chest about credit cards.
14 posts
FutureBillionaire
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Postby FutureBillionaire » Tue Jul 24, 2012 2:34 pm

hematino wrote:I like FutureBillionaire's combo, probably I'd chooose the same thing:

Blue Cash Preferred
PenFed Platinum Cash Back Rewards
Discover Escape

Pros:
- Cards run respectively on Amex, Visa, and Discover networks, so I could shop almost anywhere
- Total annual fee of $135 isn't too steep in exchange for the reward payoff
-Discover Escape provides primary insurance on rental cars
-6% cashback at tons of stores with the Blue Cash Preferred, via grocery store gift cards
-PenFed cards and Discover cards have no foreign transaction fees
-All three companies have stellar customer service, none of what you get dealing with Citi or Crapital One
-If I need to carry a balance, PenFed interest rate is a low 9.99% until sometime 2014 and still stays the lowest of the three afterwards
-Rewards don't get easier: PenFed Platinum Cash Rewards are applied to the monthly bill automatically; Amex and Discover are applied manually (all cash back no points)

Cons:
-Can't get more than 2% on restaurants and utilities, which would be possible with cards like Freedom or Cash+
-When Amex and Discover aren't accepted, you're faced with a paltry 0.25% cashback on non-gas purchases
-Discover's credit limit stinginess
-No EMV chipped cards for those that want them
-Won't work for agp, as there is no Barclays US Airways card to scrape the crumbs off his table :)


All in all I find it to be a pretty formiddable trio!


That's why I picked the Penfed Platinum rewards instead of the cash rewards. The rewards card gives me one point back on everything and it gives me 3 points at grocery stores. The cash card doesn't give me as much anything besides gas. The fact that rewards card gives me 5 points on gas makes this a must have card. I submit that this is one of the best rewards cards PERIOD.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape


FutureBillionaire
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Postby FutureBillionaire » Tue Jul 24, 2012 2:35 pm

agp wrote:Are you saying that you trust me? :D


You, Jeffysdad, and a couple other folks on here know your stuff.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

hematino
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Location: Atlantic City, NJ

Postby hematino » Tue Jul 24, 2012 2:49 pm

FutureBillionaire wrote:That's why I picked the Penfed Platinum rewards instead of the cash rewards. The rewards card gives me one point back on everything and it gives me 3 points at grocery stores. The cash card doesn't give me as much anything besides gas. The fact that rewards card gives me 5 points on gas makes this a must have card. I submit that this is one of the best rewards cards PERIOD.


Oh ok gotcha. It does seem like a great rewards card, but I'm more of a cash back person if I have the choice.

If you don't mind me asking, how long was it in between your applications first to get in with PenFed and then to get each of your cards? Also did they make you prove your income? I knew about the 60 day/one hard pull thing, so I opened my Cash Rewards maybe 45 days after joining and having a checking account opened. They didn't verify anything for me, and gave me a 6k limit which is tied with Citi for my highest limit card.
Now she's eyeless.
The snakes she held once
Eat up her hands.

FutureBillionaire
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Postby FutureBillionaire » Tue Jul 24, 2012 3:24 pm

I didn't have to verify my income. I had the cash card for about a year, then I randomly received an email stating that they increased my limit to 9k. I asked them if I could add the rewards card to my card without a hard pull, and they said yet. Penfed and Express are the only two banks to give me a cli without me requesting one.

Regarding the cash, I redeemed my points for a visa gift card that I used like cash. Trust me, this card is awesome.

I got my card with them around the same time I signed up for checking and savings accounts.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape



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