For Those of You Interested in a 2% Card...

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cashback
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Location: NY

For Those of You Interested in a 2% Card...

Postby cashback » Wed Feb 06, 2013 7:20 pm

https://www.nasafcu.com/credit-cards/

Nasa FCU Platinum Cash Rewards

Here's a no nonsense 2% Visa. Any spending AFTER 2K gets 2%.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781


Bksuper
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Posts: 257
Joined: Sun Oct 14, 2012 10:22 pm
Location: California

Postby Bksuper » Wed Feb 06, 2013 7:57 pm

Why do that when there are at least 3 other cards (2 of them visa,1 of those with no redemption minimums and automatic redemption in any increment when the statement cuts but before balance is reported) that give 2% back no af, no fuss, and the cash back is earned on EVERY dollar spent, not just after $2k.
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

cashback
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Wed Feb 06, 2013 8:32 pm

Bksuper wrote:Why do that when there are at least 3 other cards (2 of them visa,1 of those with no redemption minimums and automatic redemption in any increment when the statement cuts but before balance is reported) that give 2% back no af, no fuss, and the cash back is earned on EVERY dollar spent, not just after $2k.


I was just throwing that out there for anyone who might be interested in 2% cards. I think they are worthless anyways. You can do much better with gift cards.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

Bksuper
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Posts: 257
Joined: Sun Oct 14, 2012 10:22 pm
Location: California

Postby Bksuper » Wed Feb 06, 2013 8:43 pm

They're nice as a catch all, besides even if you hassle with gift cards, what about big ticket purchases over $500 that don't fall into any categories that are rewarded >1% on the other major cards, from merchants that won't allow split payments over a bunch of $500 visa gift cards?
Sole Ownership Cards:
1st Financial Bank Platinum Student Visa, $500 CL, Open Since 3/2012
Citi Forward Student Visa, $6k CL, Open Since 10/2012
Costco TrueEarnings Amex, $6k CL, Backdates to 1/2012
SallieMae Rewards Barclay Mastercard, $2.5k CL, Open Since 4/2013
Jointly Owned Cards (co-owner with mom, not AU, used and paid only by me):
Chase Amazon Rewards Visa Signature, $2k CL, Open Since 8/2012
US Bank Cash+ Visa Signature, $13.5k CL, Open Since 10/2012
Authorized User (Parents Pay/Use)
Costco TrueEarnings Amex $29.4k CL, AU since 11/2012

Sevenfeet
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Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Wed Feb 06, 2013 8:57 pm

Bksuper wrote:Why do that when there are at least 3 other cards (2 of them visa,1 of those with no redemption minimums and automatic redemption in any increment when the statement cuts but before balance is reported) that give 2% back no af, no fuss, and the cash back is earned on EVERY dollar spent, not just after $2k.


Which cards would those be? Please don't assume that everyone knows what you are talking about.

EDIT: Are you talking about this blog post? (below) If so, there's only one real option on this page (i.e. Fidelity).
http://creditcardforum.com/blog/2-cash-back-credit-card/

There is one more catch with the Nasa card. The cash back reward is annual, meaning that you get money in your account after every 12 months. If you like the idea of forced savings, this isn't a bad thing. Most of do a version of this every year around tax time since we usually don't do enough exemptions with guarantees us some kind of tax refund at year's end.
Cards:
American Express Platinum (NPSL)
Penfed Platinum Reward Visa ($28K)
Chase Freedom Visa ($25K)
Fidelity American Express ($20K)
American Express Blue Cash Preferred ($20K)
Bank of America Cash Rewards MasterCard ($20K)
Citi Thank You Preferred Visa ($9.5K)
Chase Sapphire Preferred ($7.5K)
US Bank Cash + Visa Signature ($7K)
Discover IT ($4K)

cashback
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Wed Feb 06, 2013 9:04 pm

Bksuper wrote:They're nice as a catch all, besides even if you hassle with gift cards, what about big ticket purchases over $500 that don't fall into any categories that are rewarded >1% on the other major cards, from merchants that won't allow split payments over a bunch of $500 visa gift cards?


Buy gift cards for that specific merchant. And that situation is a very rare. Im not going to carry around an extra card just to get 1% extra.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

Sevenfeet
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Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Wed Feb 06, 2013 9:05 pm

Bksuper wrote:They're nice as a catch all, besides even if you hassle with gift cards, what about big ticket purchases over $500 that don't fall into any categories that are rewarded >1% on the other major cards, from merchants that won't allow split payments over a bunch of $500 visa gift cards?


This is a great point. I was talking with my wife this evening about our new card strategy and how much money we stand to save over a year (answer: at least $1600-$2000). One of those monthly costs in the budget in my kid's tuition at her private school. Sending that through a 1% card like my Chase gets me $200 back a year, or with my BofA, $220 back a year. But a 2% card nets $400...not a small dividend.

I still haven't figured out why I want to play the gift card game other than to enforce budget discipline. For example, my wife is killing us at Starbucks every year (could be worse...when I married her she as spending nearly 3 times that amount now at Starbucks!) So to enforce some budget discipline, she wants to buy a $50 Starbucks card every month and when it's gone, she can't go.

Can anyone quickly explain what the whole gift card racket is all about?
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)

cashback
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Wed Feb 06, 2013 9:11 pm

Sevenfeet wrote:This is a great point. I was talking with my wife this evening about our new card strategy and how much money we stand to save over a year (answer: at least $1600-$2000). One of those monthly costs in the budget in my kid's tuition at her private school. Sending that through a 1% card like my Chase gets me $200 back a year, or with my BofA, $220 back a year. But a 2% card nets $400...not a small dividend.

I still haven't figured out why I want to play the gift card game other than to enforce budget discipline. For example, my wife is killing us at Starbucks every year (could be worse...when I married her she as spending nearly 3 times that amount now at Starbucks!) So to enforce some budget discipline, she wants to buy a $50 Starbucks card every month and when it's gone, she can't go.

Can anyone quickly explain what the whole gift card racket is all about?


Do you pay your kid's tuition online? Can they take partial payments? If you used gift cards for it you could get 4% cash back.

I paid my wife's tuition this year like that.

And the racket about gift cards is getting at least 4% on all purchases.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

Sevenfeet
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Posts: 532
Joined: Thu Jan 17, 2013 7:20 pm
Location: United States

Postby Sevenfeet » Wed Feb 06, 2013 9:15 pm

cashback wrote:Do you pay your kid's tuition online? Can they take partial payments? If you used gift cards for it you could get 4% cash back.

I paid my wife's tuition this year like that.

And the racket about gift cards is getting at least 4% on all purchases.


Sure, they'd take pretty much anything. But you didn't answer my question. How is a gift card going to net me 4%?
Cards:

American Express Platinum (NPSL)

Penfed Platinum Reward Visa ($28K)

Chase Freedom Visa ($25K)

Fidelity American Express ($20K)

American Express Blue Cash Preferred ($20K)

Bank of America Cash Rewards MasterCard ($20K)

Citi Thank You Preferred Visa ($9.5K)

Chase Sapphire Preferred ($7.5K)

US Bank Cash + Visa Signature ($7K)

Discover IT ($4K)

cashback
Centurion Member
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Wed Feb 06, 2013 9:18 pm

For example.

- Use Chase Freedom at the drug store (5% cash back)

- Buy $500 Visa gift card ($4.95 fee)

- 504.95 * 5% = $25.25

- 25.25 - 4.95 = $20.30

- 20.30/500 = 4.06%

So anything you spend that gift card on is getting 4%. Dealing with spending caps is a different story (but is very doable).
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781



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