Need help choosing my first rewards credit card

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Joined: Thu Apr 07, 2011 11:03 am
Location: new york

Need help choosing my first rewards credit card

Postby blackbeard » Thu Apr 07, 2011 11:11 am

Hello, I'm new here! I've never had a rewards card, but now I am buying an engagement ring, starting a business, and traveling frequently- and I'd like to take advantage of my spending. I've compared cards, but I'd like your advice.

I'd like a card with 0% APR for at least 6 months (longer is better of course), points for air fare or cash back is good. I'm lousy keeping up with spending money on certain types of purchases in specified dates- that feature isn't important to me. Also, I'd like to use my card everywhere, Discover and Amex are not preferred.

Is there such thing as cash back rewards on every purchase, not just gas and travel?

Now that I've been very picky, does anyone have some advice? I really appreciate it!

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Postby jeffysdad » Thu Apr 07, 2011 3:24 pm

If you carry a balance, and it sounds like you do, you should shop for the best apr card you can find and transfer your balance to that (ideally at a promotional rate) until you pay if off. Don't charge anything on this card. It is only to hold the transferred balance until paid off. Consider a Chase Slate card for this.

For you spending that you pay off every month you want a rewards card, consider a Chase Freedom or Sapphire card for this.

Citi also has similar cards, I'm sure.

Using two card instead of one will help you better manage spending and avoid interest on everyday purchases if you do it right. By having both cards at the same bank you can keep track of them on a single website.
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 (, 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 » Mon Apr 11, 2011 3:41 pm

As said above two cards would be best. One for carrying a balance and another for rewards. The best cash back credit cards usually have some of the highest APRs.

If you don't want to deal with changing reward categories and want no annual fee, then AmEx Simply Cash card is what I would recommend. It gives straight cash back that is automatically credited to your statement.
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

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