I've made $818.73 off cashback/cc promos since October.

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
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Mogul of Pineapples
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Postby Mogul of Pineapples » Fri Aug 27, 2010 6:32 pm

jeffysdad wrote:I really like that 2% I'm getting. If that goes I guess I'll go back to Chase Freedom. The new cards are much better looking, in case you haven't seen.


I'm actually not too thrilled about the new designs. Having the word "Freedom" in a retro font is something I think could look very dated, very fast. That being said it is still an improvement over their last design!

jeffysdad wrote:Jane, if you can get it, the Chase Freedom that offers 3% in top three spending categories per month is probably the best as gas and groceries are available categories.


I hate to say it but they are only doing that for older cardmembers. New signups are getting 5% cash back in categories that rotate quarterly - basically they copied Discover's program. Still a good deal if used the right way but I would have preferred the 3% in the top 3%.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred


ronnieloo
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Postby ronnieloo » Tue Jan 04, 2011 9:18 pm

my goal for 2011 is to make $500 of cash back credit cards. between a $100 new card offer, 5% spending and 1% on all others i am predicting i will have to spend around 25,000 for the full year to get this does that seem realistic?

concorde
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Postby concorde » Thu Jan 06, 2011 12:44 am

I have an arrangement with my employer where I charge purchases to my personal credit card and get reimbursed for them. Thanks to that I got around $700 in rewards last year. Really that is the best way to catapult rewards because it is making money on OPM.

hustler98
 
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Postby hustler98 » Fri Jan 07, 2011 5:50 am

Hello All

I wasn't able to sleep and I was doing some research about the VISA signature cards and their features they offer and somehow ran into this forum. I am actually glad I did because I didn't know you can actually make some money doing this. Here is my dilemma, I only have 1 credit card now but I'm wanting to get a few more. I am a true believer of 1 credit card but I wanted to explore the money back,miles and other goodies. I fly quite a bit on SouthWest and they are actually offering a rewards program and wanted to take advantage of those miles but also as I was looking into the VISA signature benefits there seems to be lots of good benefits.

I think Jeffy mentioned a card that deposited the money into your roth IRA account. What company was that with again ? Also, I estimate my yearly spending is about 15k but that's just my expenses, I haven't taken into consideration of my wife's. So I'm thinking we will clear close to 30k. We eat out quite a bit, shopping, movies and will be traveling more on the road so gas will be a large part of my daily expenses which will be reimbursed. It's overwhelming with the amount of cards and options that are out there for consumers. I guess there isn't a right answer but I'm looking for the best combination of card for me to juggle around as most of you have done over the years. This is my first post so if I am asking some redundant question please forgive me. :)

One more thing too, when you have so many of these credit cards doesn't it lower your FICO score or is that not true ?

jeffysdad
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Postby jeffysdad » Fri Jan 07, 2011 2:46 pm

Hustler, you should have at least two major cards in case one of them becomes subject to a fraud alert and you are unable to use it until the matter is resolved.

Fidelity Amex and Fidelity Visa, offered by FIA Card Services are the cards that deposit rewards into a Fidelity Roth or checking account.

In case you didn't know, Southwest just announced major changes to their frequent flyer program. You might want to check out what's going on with them before you sign up for a Southwest card.

Sind you travel a lot, you might want to consider a combo of Chase Sapphire and Chase Freedom. Sapphire for travel and Freedom for everyday purchases as they offer 5% cashback in rotating categories. You can combine the points you earn with Sapphire and Freedom into one redemption, which is nice.

I have eight major credit cards and it hasn't harmed my score any, My score is in the high 700s and has hit 800 in the past but not lately.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Fri Jan 14, 2011 9:32 pm

What I would do is make a list of the top five categories of spending and how much is expected per year for each. Travel, gas, everything else and so forth. Then that will give you a better idea of where to start.

For the everything else, don't settle for less than 2% or at the very least 1.5% on the Blue Cash. Earning a lot of rewards for the other categories won't mean as much if all other purchases earn 1% or below.

Depending on how full you want your wallet, the sky is the limit to how many credit cards you could get if you're willing to endure the hassle of managing each. There are some very obscure credit cards that you never hear about that may have higher rewards in unusual categories.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

mediahound
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Postby mediahound » Mon Jan 17, 2011 1:31 pm

I'm still with the 3% cash back on the top 3 categories per month as well as a $250. check when I hit $200. I hope they don't turn that off for me soon...

Mogul of Pineapples wrote:I hate to say it but they are only doing that for older cardmembers. New signups are getting 5% cash back in categories that rotate quarterly - basically they copied Discover's program. Still a good deal if used the right way but I would have preferred the 3% in the top 3%.

.r.
 
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Postby .r. » Sat Jan 22, 2011 4:24 am

hustler98 wrote:Hello All

Here is my dilemma, I only have 1 credit card now but I'm wanting to get a few more. I am a true believer of 1 credit card but I wanted to explore the money back,miles and other goodies. I fly quite a bit on SouthWest and they are actually offering a rewards program and wanted to take advantage of those miles but also as I was looking into the VISA signature benefits there seems to be lots of good benefits.

...

We eat out quite a bit, shopping, movies and will be traveling more on the road so gas will be a large part of my daily expenses which will be reimbursed. It's overwhelming with the amount of cards and options that are out there for consumers. I guess there isn't a right answer but I'm looking for the best combination of card for me to juggle around as most of you have done over the years.


Hey Hustler,

A couple things to consider if you're still following the thread. As jeffysdad mentioned, Southwest is making major changes to Rapid Rewards -- I don't know your flight patterns or habits, but if you're like me you fly Southwest because they often have low fares. The new program (and associated Visa cards) are going to be more like a cash-back program, and generally less lucrative unless you're purchasing the most expensive fares.

I don't believe it has been announced yet, but one thing you could do is get the Starwood AMEX which allows point conversions to Southwest, and has the added benefit of "banking" points to eventually be deposited. I am unsure as to how this may change with the new Rapid Rewards, but banking is better as far as I'm concerned (as opposed to the automatic conversion with the Rapid Rewards Visa cards) because you could make a deposit to top-off for a needed award or accumulate over a long period of time to top-off for a Companion Pass (which I just did myself.) Starpoints can also be converted to miles in the programs of many other airlines -- (most at a 1:1 ratio) and Starwood also gives a bonus of 5,000 miles for every 20,000 transferred to most programs.

The American Express Blue Sky or Blue Sky Preferred cards have also crossed my mind as potential replacements to my own Rapid Rewards Visa -- both accumulate one point per $, and points can be cashed in at a rate of 7500 points for a $100 credit toward a travel purchase. The Preferred version of the card has a $75 annual fee, but also gives you an annual $100 "airline allowance" to be used toward baggage fees, meals, etc. Although you might not need much of that on Southwest, it could offset the cost of 10 "Early Bird Check In" fees. The Preferred version also gives double points on dining, hotels, and rental cars while the regular version has no annual fee.

I've been happy with American Express over the years, the people you get on the phone tend to be more professional than many of the agents at banks. Even the oursourced reps seem to know what they're doing -- my biggest complaint is that many small businesses don't accept the card.

In any event, good luck -- I'm new here, too but I hope that if you see this you'll report back to communicate your decision!

- Rob

milkthatcard
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Goal of $2000 for 2011

Postby milkthatcard » Thu May 19, 2011 7:15 pm

I am really getting into the credit card game since joining this forum and after reading the tips and doing my homework I have set a goal for this year of $2000 in rewards. I am not a big spender by any means but I plan on accomplishing roughly like this.

1. $1000 for types of spending that get higher rewards
2. $600 for application bonuses
3. $250 regular purchases, $25000 at 1% or $12500 at 2%
4. $100 for kickbacks through the online shopping programs and maybe more with this.
5. $50 for seasonal and store promotions I get mailed about

jeffysdad
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Postby jeffysdad » Fri May 20, 2011 7:34 am

So far this year I've made about $675 in cashback and gift cards, a little less than half from cc cashback, some from airline miles and some for opening new accounts, retailer loyalty programs, etc. Since I'm essentially only using one cc this year (Fidelity Amex) and not juggling cards to maximize rewards, my take from just CCs will be lower. I should note that the total so far this year includes rewards earned from some spending during the fourth quarter of last year.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.



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