Rewards or Cash Back?

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8 posts
Randiesel75
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Rewards or Cash Back?

Postby Randiesel75 » Fri Jan 04, 2013 6:19 am

For those with both, how do you determine which to use when both offer benefits?

For instance, CSP offers 2x points on dinning and your Discover is at 5% for dining. Which card do you pull when the bill comes?


kcarter609
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Postby kcarter609 » Fri Jan 04, 2013 7:19 am

It depends on how much the reward points are worth. If you have a 5% cash back card for dining, and the CSP offering 2x points, there is no question the 5% is a much better choice.

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

sticf
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Postby sticf » Fri Jan 04, 2013 7:25 am

I usually have made that decision before the bill arrives. I am planning a trip to Monaco in 2014 so I am working on getting airline miles and status this year. As of right now I am working on getting 2 signing bonuses (both on points cards). The cards sign up bonuses were too good to pass up so I am charging everything to them. After the bonuses are satisfied I will reevaluate, my points situation.

All of that being said normally I would stick with the Cash Back card in almost all situations.

So I guess my decision method follows something along these lines... Bonus, Cash, Points (if needed for something in the next year)...

Randiesel75
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Postby Randiesel75 » Fri Jan 04, 2013 7:51 am

sticf wrote:I usually have made that decision before the bill arrives. I am planning a trip to Monaco in 2014 so I am working on getting airline miles and status this year. As of right now I am working on getting 2 signing bonuses (both on points cards). The cards sign up bonuses were too good to pass up so I am charging everything to them. After the bonuses are satisfied I will reevaluate, my points situation.

All of that being said normally I would stick with the Cash Back card in almost all situations.

So I guess my decision method follows something along these lines... Bonus, Cash, Points (if needed for something in the next year)...


Would you mind sharing the details of the signing bonus, just so I can get an idea?

I was just approved the CSP and will be getting married in May of this year. I plan on dropping the entire honeymoon on the card for the 40,000 in points offer. Then figured after a year I can redeem them for our 1 year anniversary. Also, just picked up the Discover IT card. So, trying to understand when I should be using the IT card, which seems to me would be in situations whereby CSP only offers 1x points.

kcarter609
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Location: VA

Postby kcarter609 » Fri Jan 04, 2013 8:05 am

Randiesel75 wrote:Would you mind sharing the details of the signing bonus, just so I can get an idea?

I was just approved the CSP and will be getting married in May of this year. I plan on dropping the entire honeymoon on the card for the 40,000 in points offer. Then figured after a year I can redeem them for our 1 year anniversary. Also, just picked up the Discover IT card. So, trying to understand when I should be using the IT card, which seems to me would be in situations whereby CSP only offers 1x points.


Exactly. When the IT card has a 5% bonus category that fits what you're buying, use that. Otherwise, use the CSP.

Active Cards:
Chase Freedom 10+10 Visa Signature ($9k Limit - 8/2012)
Chase Sapphire Preferred ($10k Limit - 2/2013)
Chase Ink Plus ($7k Limit - 2/2013)
Discover IT ($9.5k Limit - 10/2012)
AMEX Zync (No Pre-set Limit - 1/2010)
AMEX Blue Cash Everyday ($20k Limit - 1/2013 - Backdate to 1/2010)

Robrus1
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Location: Texas

Postby Robrus1 » Fri Jan 04, 2013 9:55 am

Agreed with the above. Normally I use my csp for dining, but since this quarter is 5% back on dining with the Discover card, I'll use it during the quarter. I tried to set up my 3 most used cards to where I almost never get less than 2% back.
Amex Platinum
Amex BCP 21K
Amex SPG 5K
Barclaycard Arrival Plus WEMC 5K
Chase Sapphire Preferred 23.5K
Credit Union 10K
Discover IT 7.75K

silver6054
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Location: boston

Postby silver6054 » Fri Jan 04, 2013 11:57 am

Robrus1 wrote:Agreed with the above. Normally I use my csp for dining, but since this quarter is 5% back on dining with the Discover card, I'll use it during the quarter. I tried to set up my 3 most used cards to where I almost never get less than 2% back.

Get the Priceline Visa or Fidelity Amex, and you will NEVER get less than 2% back.

Money card
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Location: New York state

Postby Money card » Sat Jan 05, 2013 12:31 am

Randiesel75 wrote:Would you mind sharing the details of the signing bonus, just so I can get an idea?

I was just approved the CSP and will be getting married in May of this year. I plan on dropping the entire honeymoon on the card for the 40,000 in points offer. Then figured after a year I can redeem them for our 1 year anniversary. Also, just picked up the Discover IT card. So, trying to understand when I should be using the IT card, which seems to me would be in situations whereby CSP only offers 1x points.


I would use the It card for the 5% cash back categorys. so if you go out to eat at any restaurants from now till March 31'st I would use the It card. for spring style we have no idea what the category will be, it sounds like fashion, but who knows if it is. If I'm correct you need clothes from a fashion store not wal mart or Target or any department store, a store like the gap J crew ect this would be the category to use your Discover card. they do usualy have at least 2 categorys, just call up on the card and ask them at any given time what's the rotating category and an account mgr will tell you. then you will know what to use your Discover card for.



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