Reward Cards

For just about anything you want to get off your chest about credit cards.
7 posts
ajacks108
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Reward Cards

Postby ajacks108 » Sun Dec 29, 2013 10:48 pm

What do you guys think about reward cards. I know many love airline reward cards but how about hotel reward cards. I've read some think their not worth it anymore. I was thinking of applying for either the SPG Amex, Marriott VIsa or Hyatt Chase cards. 1st one because of its versatility and ability to transfer points to multiple airlines and I'm really like my amex gold thus far. Marriott Visa because of its partnership with United and I have the United Mileage Explorer Card however idk if i'd reach elite status with either of those programs (if you hit elite status on one u get it on the other). Hyatt only because it gives you elite status and free nights as well.

What i want to do with the card. I really just want to be able to get a couple of free nights here and there and maybe an upgrade. I'm at my first job and I do plan on starting to travel more however I'm not sure if I'd be traveling enough to hit 25 stays 50 nights or 75 nights or w/e the different amounts are to hit Elite Status. Short term goal: I'm planning a trip to Europe in the Summer probably late august to see if i can catch a Spurs Match. Already have 66k FFM's need 20k more and then gonna see if i can get a couple of free nights at a hotel.
[size=80]Amex Premier Gold
Chase Freedom - CL $8,000
Chase United Mileage Explorer card - CL $6,900
Banana Republic - CL $4000
Chase Slate - CL $3,000
Target - CL $2000
Ann Taylor Loft - CL $1000[/size]


cashback
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Postby cashback » Sun Dec 29, 2013 10:52 pm

Rewards are all about goals. Get the card that will give you rewards to the merchants(airlines/hotels) your frequent. If you have multiple merchants, then you get into how much each point is worth. I suggest a google search. You will find all the info you need.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

MemberSince99
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Location: WI

Postby MemberSince99 » Sun Dec 29, 2013 11:13 pm

Cash I see you are planning to get the Sallie Mae card. I'm just curious what your goal is with that one? If you wouldn't mind sharing them.

cashback
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Sun Dec 29, 2013 11:20 pm

5% on $250 gas and grocery each per month. No other card offers that. BCP is only a 4.75% cash back on grocery when you account for the $75 AF, and that is if you spend 6K exactly. It goes down if you spend more or less.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

takeshi
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Location: US

Postby takeshi » Mon Dec 30, 2013 8:08 am

ajacks108 wrote:What do you guys think about reward cards.

Rewards are a big driver my card selection process. I wouldn't have 11 cards if that was not the case. That said, you need to do whatever works for you. If you don't think rewards are worth it then don't bother. Everyone doesn't have the same spend, goals, priorities, preferences, etc so you can't just poll on the matter.

DavidNY
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Location: New York

Postby DavidNY » Mon Dec 30, 2013 9:57 am

I like rewards cards. I'd suggest Fidelity Amex.

As cashback said, Sallie Mae is also nice.

rockyrock
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Location: Ventura, CA

Postby rockyrock » Mon Dec 30, 2013 6:05 pm

I have both the Marriott Premier and SPG. I also have SPG Gold (thanks to Amex Plat) and Marriott Gold thanks to lots of business travel. I will likely lose both after 2014 as I will no longer be traveling for business and will likely drop my Amex Plat before it renews. That's another post though.

IMO Starpoints are the most valuable points on the market. If you want more details jump over to the Points Guy or Frugal Travel Guy blogs and read up. There aren't many other perks to the card but with low redemption rates and cash + points you can really score big with few points. The AF for the first year is waived so no risk to see if it works for you. Plan well though so you can meet the initial spend to get the bonus.

The Marriott card is almost a no brainer for me--the annual free night cert more than covers the cost of the AF. My AF has been grandfathered in at $65 so it's even more of a deal for me.

My card based earnings are low as I only use the cards for on property spending or targeted bonus spending--which doesn't happen often. As much as I like the cards I am evaluating whether it is just easier to use my CSP for everything and ditch two cards with AFs.

Good luck and always YMMV.
American Express (2005): Green & Blue Cash Everyday
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC



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