Credit Card Forum
  1. #1
    Green Member
    Join Date
    May 2012

    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
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  2. #2
    Centurion Member
    Join Date
    Jan 2013


    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,
    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
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