Easiest type of credit card rewards?

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Freund
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Easiest type of credit card rewards?

Postby Freund » Mon Jul 31, 2017 11:14 pm

What do you guys think is the easiest type of credit card rewards to work with? I want to earn rewards, but I don't want to take lot of time to figure out how to use them.

Thanks!


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CarefulBuilder14
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Re: Easiest type of credit card rewards?

Postby CarefulBuilder14 » Mon Jul 31, 2017 11:34 pm

Freund wrote:What do you guys think is the easiest type of credit card rewards to work with? I want to earn rewards, but I don't want to take lot of time to figure out how to use them.

Thanks!

Easiest: Cash back with low/no minimum redemption requirements and no complications. Discover It, Chase Freedom, Amex Blue Cash Everyday/Preferred, Capital One QuickSilver. Discover has lower acceptance but probably the best basic (non-elite) customer service. Some cards will even automatically deposit the rewards in a brokerage account.

Less easy: "Restricted" cash back...offsetting travel expenses. Barclaycard Arrival and Capital One Venture.

Somewhat complicated: Hotel points that are best used as hotel points. IHG, Hyatt, Marriott.

More complicated: Airline miles, since you can use them on flights with partner airlines.

Most complicated: SPG Starpoints. You can use them in two different hotel loyalty programs and usually get a reasonable value, or transfer them to airlines to also get a reasonable value.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Freund
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Re: Easiest type of credit card rewards?

Postby Freund » Tue Aug 01, 2017 10:08 am

Thanks!

So with cash, can I do that automatically into a bank account? Or do I need to use it toward a card payment on that particular card?

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CarefulBuilder14
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Re: Easiest type of credit card rewards?

Postby CarefulBuilder14 » Tue Aug 01, 2017 5:56 pm

Freund wrote:Thanks!

So with cash, can I do that automatically into a bank account? Or do I need to use it toward a card payment on that particular card?

That depends on the card. Fairly few cards deposit the rewards automatically into a bank or brokerage account. There's a Schwab Amex 1.5% cash one that feeds a Schwab account automatically, with funds appearing at Schwab 6-8 weeks after the Amex billing period ends. You may already have a different bank or brokerage in mind, though, in which case you'd have to do your own research.

With some cards you can only get a statement credit.

With others, you can make a few clicks every few months and you'll get the funds in the bank account of your choice.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

Freund
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Re: Easiest type of credit card rewards?

Postby Freund » Wed Aug 02, 2017 5:21 pm

Thanks so much. Now that I think about it, getting refunds on card purchases is probably easier, so not being able to send to a bank account probably is not a big deal.

I am looking at the Capital One Quicksilver. Anyone have any major complaints about that? Seems like it's a really easy card for rewards.

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CarefulBuilder14
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Re: Easiest type of credit card rewards?

Postby CarefulBuilder14 » Wed Aug 02, 2017 7:40 pm

Freund wrote:Thanks so much. Now that I think about it, getting refunds on card purchases is probably easier, so not being able to send to a bank account probably is not a big deal.

I am looking at the Capital One Quicksilver. Anyone have any major complaints about that? Seems like it's a really easy card for rewards.

There used to be a lot of complaints about incompetent Cap1 customer service. I get the impression it's improved, but have no experience with Cap1.
Warranties and sketchy merchants: Schwab Platinum
Price rewind: Costco
Travel insurance: Prestige, CSP
Perks: IHG, Hyatt
Rewards/Offers: Discover, Freedom, ED, BCE
Taxes/Misc: SPG

Limited value, might close: Arrival

Might add: First Tech, proper business card

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kcm7
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Re: Easiest type of credit card rewards?

Postby kcm7 » Thu Aug 03, 2017 9:50 am

I have the QS. Customer service is no worse than I've experienced with other big banks. And, assuming all goes well, you shouldn't really need to talk to customer service much at all. I had someone help me out with an issue at like midnight once and they fixed my problem, which I was impressed with because you don't expect the A Team to be manning the phones in the middle of the night.

The rewards are super easy to use if you redeem for statement credits. You can see how much cash back you've earned as soon as you log in and you can use it to pay towards your balance with 2 clicks.
Cards:

-Capital One Quicksilver
-Barclaycard Arrival (no AF)
- US Bank (no rewards)
-IHG

charged
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Re: Easiest type of credit card rewards?

Postby charged » Thu Aug 03, 2017 5:46 pm

In my experience the easiest is a card is a cashback card with no categories, caps, or redemption limits. Capital one quicksilver is one of the few I've seen that has all of these with 1.5% back across the board.

If you meant what categories are the easiest to get when you are talking about cards with categories I'd say grocery stores or restaurants since people never stop eating.

Freund
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Re: Easiest type of credit card rewards?

Postby Freund » Fri Aug 04, 2017 3:12 pm

Thanks, all! Going to go for the Quicksilver most likely.



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