Swagbucks Credit Card

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2 posts
lorkat89
Green Member
Green Member
 
Posts: 14
Joined: Thu May 03, 2012 8:58 pm
Location: Georgia

Swagbucks Credit Card

Postby lorkat89 » Sat Aug 10, 2013 1:33 pm

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


RewardHop
Centurion Member
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Posts: 307
Joined: Wed Jan 02, 2013 3:43 pm
Location: USA

Postby RewardHop » Sun Aug 11, 2013 6:49 pm

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)
[size=60]
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
Discover It: 5% rotating
SallieMae MC: 5% Groceries, Gas, Amazon
US Bank Cash+ Visa Signature: 5% electronic stores, restaurants
Sock Drawered: Chase Sapphire, Chase Amazon[/size]



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