Credit Card Forum
  1. #1
    Green Member
    Join Date
    May 2012
    Location
    Georgia
    Posts
    12

    Default Swagbucks Credit Card

    So currently I have the Captial One Secured Card that has a $29 yearly fee. I have been searching for a new credit card to apply for so one day I can close this one (since it has a yearly fee and then I can get back the money I've deposited to raise the limit). Well, I couldn't ever find one that I really liked. I've debated doing the Bank of America credit card that has the cash rewards. But the other day I discovered Swagbucks has came out with a credit card. And I love Swagbucks. I use them for Amazon Giftcards (the $5 one for 450 Swagbucks is the best deal). I've probably bought $200 worth of stuff on Amazon and really haven't spent a dime.

    I'm just wondering if this is a good card and if I should apply for it.

    You get 1.25 Swagbucks per dollar on every purchase (and from what I read, there's no limit on how much you can earn.)

    There's no annual fee

    The highest APR is 18.99%
    Capital One Secured Card - $1,200 limit
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
    Reply With Quote Reply With Quote

  2. #2
    Centurion Member
    Join Date
    Jan 2013
    Location
    USA
    Posts
    290

    Default

    Heres some napkin math:

    Assuming you use your Swagbucks for the $5 Amazon GC at 450 Swagbucks
    1.25 SB per Dollar * 360 Dollars = 450 SBs
    So $360 spend gets you $5 Amazon GC. 5 / 360 = 0.0138888888888889

    Rewards rate on the card is roughly 1.38%
    You can do better than that. Whether thats through Fidelity AMEX 2% everything, Capital One Quicksilver 1.5% everything, or cards that offer 3-5% on various categories (ie Chase Freedom, US Bank Cash+, BCP/BCE, Citi Forward, etc)

    Amex BCE: 3% grocery, 2% gas
    Bank of America Better Balance Rewards MC: $25/quarter bonus
    Barclaycard Rewards Visa Signature: 2% gas, groceries, utilities
    Capital One Quicksilver Visa Signature: 1.5% everything
    Chase Freedom Visa Signature: 5% rotating
    Citi Forward Visa: 5% restaurants/fastfood, movie theaters, amazon.com
    US Bank Cash+ Visa Signature: 5% electronic stores, restaurants
    Chase Amazon Visa: 3% amazon.com (unused)
    Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiTweet this Post!
    Reply With Quote Reply With Quote

Advertising Disclosure: CreditCardForum is an independent, advertising-supported comparison service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are authorís alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. Reasonable efforts are made to present accurate info, however all info is presented without warranty. Consult a card's issuing bank for terms & conditions.