Best Option for an Odd Profile?

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eyralis
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Best Option for an Odd Profile?

Postby eyralis » Tue Feb 18, 2014 2:51 pm

Hi! I'm 35, run a business coaching practice that does well. No employees.
- have had debit cards for 10 years
- good credit score
- I tend to fly Virgin

- I spend $30,000 / year on amazon (prime)
- I spend $5,000 / year on restaurants
- I spend $3,000 / year in taxis
These are my biggest expenses aside from rent and taxes. I don’t drive, so gas is not important.

I had some bad experiences with fraud recently, so I want a card that is VERY good at avoiding fraud, and/or good at reimbursing for fraudulent purchases. I’ll also be buying a house at some point, so I'm sure that having at least one credit line will be seen as a good thing.

Which card should I choose? This is my first-ever credit card, I've been looking through all the options, and feel completely lost: should I get Amex blue? Green? Amazon? Virgin? Chase? Should I focus on cash back? Points?

Help! :confused:
Olivia


MemberSince99
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Postby MemberSince99 » Tue Feb 18, 2014 4:56 pm

Given your spending the Amazon rewards card (NOT the store card they are different one is Chase the other is GE, you want the blue one by Chase) would be your overall best bet with that level of spending.


Some cards give higher overall rewards for Amazon for 3 months of the year with a cap (like the Chase Freedom and Discover IT) but they would only be 1% once you hit that cap which with your spending will happen very quickly.


So your every day spending would be the Chase Amazon, and then on top of that you might want a travel card depending on what travel you are looking to do or if you are looking to travel.


That's my suggestion based on what you've said. Spending 30k a year on Amazon the Chase card would give you 3% on that with no cap and 2% on restaurants. You can find others that give higher rewards on restaurants alone too but 2% is not bad.


Taxis, honestly I have no clue of any card that gives you rewards on that, with the possible exception of maybe some travel card, but in general, I don't know of any other than the "base" rewards.

samhradh
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Postby samhradh » Tue Feb 18, 2014 6:19 pm

The CSP rewards on taxis but I agree about the Amazon card making the most sense. Plus more acceptance than AmEx is better for your first credit card.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

eyralis
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Postby eyralis » Tue Feb 18, 2014 11:39 pm

Thanks for the suggestions! The amazon card says it’s “3xPoints” for amazon purchases, and “2xpoints” for restaurants, is that the same as 3%?

samhradh
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Postby samhradh » Wed Feb 19, 2014 8:57 pm

eyralis wrote:Thanks for the suggestions! The amazon card says it’s “3xPoints” for amazon purchases, and “2xpoints” for restaurants, is that the same as 3%?


The rewards program is best if you want to use the points earned to offset your Amazon purchases. Every 100 points redeemed = $1.00 towards your Amazon purchase. You can use the points for other rewards but I've been unable to find the redemption rate (I wouldn't be surprised if it's low).

If you want a card that earns cash back or more versatile points then we need to know that.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

JoDa
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Postby JoDa » Thu Feb 20, 2014 6:40 pm

Beyond rewarding for taxis (they are classed as travel), Chase also has very, very robust fraud detection and remediation. I've seen fraudulent charges post as pending, but never settle when either I caught them and called them in or they called me and told me about suspicious activity. They will overnight you a new card in case of fraud. They did ask me to file a police report one time when my card was physically stolen, but that's the only time and the only hoop they've ever made me jump through. Just be prepared to call them in advance of any travel or unusual activity because they WILL block the charges. Not a pleasant surprise in an airport or at a hotel. Or in a store...they called me on the spot after returning the charge as "approval needed" to the store when I bought my MacBook. Con: kind of embarrassing. Pro: no fraud, and they were able to clear the charge immediately over the phone. I've since learned to call them if I plan on dropping more than $500 on any purchase outside my normal routine or travel.
CSP $19K
BOA $4K
UMP $11.5K
Target Visa $1.5K

eyralis
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Postby eyralis » Wed Mar 05, 2014 7:49 pm

Thanks guys, this has been hugely helpful. I’ll sign up for the amazon chase card today!
Really appreciate it.
Olivia



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