Looking for the best reward card for me

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6 posts
asmith2378
 
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Joined: Mon Apr 18, 2016 4:14 pm

Looking for the best reward card for me

Postby asmith2378 » Mon Apr 18, 2016 4:21 pm

I am looking for the best rewards card I can get with my credit score and history. A travel rewards card would be optimal as I'll be using the rewards on flights mainly. I'd also like it to be flexible as far as what airlines I can use unless the card is just a lot better. I have a good credit score of 747, but my credit history is limited. I only have one credit card at the moment that I've had for only 2 years. I've been looking at cards such as the Chase Freedom and Capital One Venture card, and was wondering if anyone had any suggestions. Something with a low annual fee and no foreign transaction fees would be awesome as well. Thanks for any info!


ingramjuan
Centurion Member
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Location: EARTH

Re: Looking for the best reward card for me

Postby ingramjuan » Mon Apr 18, 2016 10:54 pm

asmith2378 wrote:I am looking for the best rewards card I can get with my credit score and history. A travel rewards card would be optimal as I'll be using the rewards on flights mainly. I'd also like it to be flexible as far as what airlines I can use unless the card is just a lot better. I have a good credit score of 747, but my credit history is limited. I only have one credit card at the moment that I've had for only 2 years. I've been looking at cards such as the Chase Freedom and Capital One Venture card, and was wondering if anyone had any suggestions. Something with a low annual fee and no foreign transaction fees would be awesome as well. Thanks for any info!


This is very subjective, do you want miles, cash back, free hotel stays etc..... However based on the two cards you listed above, i would take the new chase freedom.
CARDS:
Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

Gardening Since: June, 2015

Next Cards:
Personal: Chase Freedom Unlimited
Business: Amex Plum
Store Card: Lowes

martin7
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Re: Looking for the best reward card for me

Postby martin7 » Tue Apr 19, 2016 11:38 am

AMEX Blue Cash Preferred if you spend 6k a year on groceries.
If you live near a Costco, the new Citi Costco Card looks good.
Citi Doublecash if you want simple 2% cashback, no annual fee.
Sapphire Preferred has a nice sign up bonus for travel. 4k spend in 3 months/$500 back or $625 towards travel. I don't think it's worth it for the annual fee though (waived the first year), but I don't travel a lot.
Depending on what airline is a hub in your city, the Chase Cards can be transferred to United, the AMEX Delta is good, Alaska, and American Airlines have good cards with perks.

takeshi
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Re: Looking for the best reward card for me

Postby takeshi » Tue Apr 19, 2016 2:18 pm

asmith2378 wrote:I am looking for the best rewards card I can get with my credit score and history. A travel rewards card would be optimal as I'll be using the rewards on flights mainly. I'd also like it to be flexible as far as what airlines I can use unless the card is just a lot better.

Best is subjective regardless of topic. A travel card isn't necessarily the best fit just because you intend to redeem for flights. It really all depends on the volume of spend that you intend to run through the card and which rewards program allows you to best leverage redemption options so you can make the best value per point/mile. You can't just want to redeem on as many airlines as possible. You need to give us the airlines you can redeem with as some of your selection criteria as well as lot more information in order for us to help you narrow down the options. At this stage it's impossible to give you any meaningful recommendations.

asmith2378 wrote:I have a good credit score of 747

What scoring model? Which CRA? Whatever it is, not all creditors will use that score and the score a given creditor may use for you can be different. you don't have just one score. For most scoring models you have a score with each of the 3 major CRA's. Even so, score is a just one consideration for a creditor and score alone cannot tell you what you will or will not qualify for. We certainly can't tell you what you will or will not qualify for either. We can guess but keep in mind that it's just a guess.

asmith2378 wrote:I've been looking at cards such as the Chase Freedom and Capital One Venture card, and was wondering if anyone had any suggestions.

Sort out your needs/wants and you'll have what you need to select a card. If you've been looking at the Freedom and the Venture then you clearly haven't put much into figuring that out as those are two very different cards. Your spend matters and you need to run the numbers for your spend to determine the rewards that you would stand to gain to help you compare cards. It's very straightforward with cash back cards since you only have to multiply spend by the earn rate. However, travel cards are going to require a lot more due diligence for you. You need to go beyond the earn rate and run the numbers for the redemption method you intend to use. Getting better value generally requires transferring points/miles to a travel partner and redeeming with that partner's program so you need to look into the programs for the partners you intend to use as well.

We can't just do all this for you -- especially with no information to go on. We're certainly willing to help but you need to bring a lot more to the table for us to help you.

BYTech
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Re: Looking for the best reward card for me

Postby BYTech » Tue Apr 19, 2016 10:52 pm

Check the BofA Travel rewards card - I've had this card for awhile and it very flexible as a travel card. There is no annual fee and you 1.5x on all purchases. You redeem your points base on travel expenses you have made using the card. Travel is not limited to airfare and hotels. I have redeemed points against parking meters, tollways, E-Pass, Uber/Lyft, car rentals, bus passes, train and subway passes. BofA will send the it to you as a credit in your credit account so you can use the the amount for anything you want and you don't have to be tied to a specific airline etc.

I also just received an Amex PRG which is 3x points but is only valid towards direct airline purchases.
Cards:
Amex: Platinum Mercedes (5/16), PRG (4/16), Gold (4/16, will close), Mercedes Revolver (4/16), ED (4/16), SPG (5/16), Business Gold (5/16), Business Green (6/16), Business Platinum Delta (6/16), Corporate Green (6/16)
BofA: Cash Rewards (6/07)
Citi: Prestige (5/16), TY Premier (5/16)

kdm31091
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Re: Looking for the best reward card for me

Postby kdm31091 » Wed Apr 20, 2016 5:41 am

BYTech wrote:Check the BofA Travel rewards card - I've had this card for awhile and it very flexible as a travel card. There is no annual fee and you 1.5x on all purchases. You redeem your points base on travel expenses you have made using the card. Travel is not limited to airfare and hotels. I have redeemed points against parking meters, tollways, E-Pass, Uber/Lyft, car rentals, bus passes, train and subway passes. BofA will send the it to you as a credit in your credit account so you can use the the amount for anything you want and you don't have to be tied to a specific airline etc.

I also just received an Amex PRG which is 3x points but is only valid towards direct airline purchases.


My usual argument against cards like BOA Travel is that there is really no advantage to using it over a 1.5% or 2% cash back card, which will return the same amount but in cold hard cash you can do what you want with and not worry about "travel" expenses. The only real advantage of the BOA card is no FTF in this situation.

OP could get a Capital One Quicksilver for no FTF, no annual fee, same 1.5% back in cash which can be used for anything.



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