Best points card?

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
41 posts
FutureBillionaire
Centurion Member
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Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Tue Apr 16, 2013 9:57 am

I think the Freedom only makes sense if you combine it with one of their other cards. It's not as powerful on its own. I think it makes sense to have a combination of cash back and points cards.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape


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

Postby cashback » Tue Apr 16, 2013 11:42 am

FutureBillionaire wrote:I think the Freedom only makes sense if you combine it with one of their other cards. It's not as powerful on its own. I think it makes sense to have a combination of cash back and points cards.


I disagree. If youre using the points to travel just because you get a better redemption ratio, then you are just wasting them. Its nice to have cash if you can get it at 1 cent per point.
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

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Tue Apr 16, 2013 11:46 am

cashback wrote:I disagree. If youre using the points to travel just because you get a better redemption ratio, then you are just wasting them. Its nice to have cash if you can get it at 1 cent per point.


I will be transferring mine to Southwest. I already get all of my cash back through Discover and its portals. I get more than 1 cent value if I use the UR points through CSP. I don't plan to use the UR Mall unless I'm booking travel. I'm getting the best bang for my buck from a UR point and cash back point of view buy using all of the cards.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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

Postby cashback » Tue Apr 16, 2013 11:48 am

FutureBillionaire wrote:I will be transferring mine to Southwest. I already get all of my cash back through Discover and its portals. I get more than 1 cent value if I use the UR points through CSP. I don't plan to use the UR Mall unless I'm booking travel. I'm getting the best bang for my buck from a UR point and cash back point of view buy using all of the cards.


Right. But if youre just traveling because you have the points, and you wouldnt normally be doing so if you had to pay cash for it, then its a waste IMO.

Also, you have to look at how much each southwest point is worth. You may actually be losing point value by transferring.
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

FutureBillionaire
Centurion Member
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Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Tue Apr 16, 2013 11:59 am

cashback wrote:Right. But if youre just traveling because you have the points, and you wouldnt normally be doing so if you had to pay cash for it, then its a waste IMO.

Also, you have to look at how much each southwest point is worth. You may actually be losing point value by transferring.


You come out ahead with transfers.

You're absolutely right about using the rewards for things you wouldn't get anyway. They aren't really savings if they are used like that. That's going to be a topic I cover in my upcoming blog. (shameless promotion). Anyways, I fly southwest for nearly all of my trips. I travel for pleasure a bunch during the summer. Plus, I'm going to be married in the next couple years. I'm going to use rewards to fund a honeymoon.

I will use some of the Freedom and Discover cashback to subsidize the cost of some high end fashion purchases as well. I'm to thrifty to pay full price for some of these items.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Tue Apr 16, 2013 12:00 pm

cashback wrote:Right. But if youre just traveling because you have the points, and you wouldnt normally be doing so if you had to pay cash for it, then its a waste IMO.

Also, you have to look at how much each southwest point is worth. You may actually be losing point value by transferring.


I promise you will love UR points when you get an Ink. Just trust me.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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

Postby cashback » Tue Apr 16, 2013 12:02 pm

FutureBillionaire wrote:I promise you will love UR points when you get an Ink. Just trust me.


Im not saying its not good. Im saying if you have the choice between getting a $250 plane ticket free or $200 cash and you choose the plane ticket just because its a better value, then that is a waste.
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

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Tue Apr 16, 2013 12:11 pm

cashback wrote:Im not saying its not good. Im saying if you have the choice between getting a $250 plane ticket free or $200 cash and you choose the plane ticket just because its a better value, then that is a waste.


:-o

I'm assuming that you are saying that it's a waste only if you don't travel. If you travel at all, the ticket is the better value.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

silver6054
Centurion Member
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Posts: 147
Joined: Mon Nov 05, 2012 5:28 pm
Location: boston

Postby silver6054 » Tue Apr 16, 2013 12:42 pm

cashback wrote:Im not saying its not good. Im saying if you have the choice between getting a $250 plane ticket free or $200 cash and you choose the plane ticket just because its a better value, then that is a waste.


Yes, but that doesn't really make a whole lot of sense! If you get the $200 cash, and you spend it on something you wouldn't have bought without having the extra cash, that is exactly the same kind as waste.

FutureBillionaire
Centurion Member
Centurion Member
 
Posts: 1589
Joined: Sun Jun 19, 2011 2:37 pm
Location: Down South

Postby FutureBillionaire » Tue Apr 16, 2013 1:20 pm

silver6054 wrote:Yes, but that doesn't really make a whole lot of sense! If you get the $200 cash, and you spend it on something you wouldn't have bought without having the extra cash, that is exactly the same kind as waste.


Maybe. But, I'm using it to buy something that I will keep and wear forever. We all splurge every now and then. If I bought clothes just on need and practical use, I would get them all at walmart and have 3-7 outfits. I like clothes. Video games. Sporting events. Do you budget for hockey games? Football games? Those aren't necessities, but I'll gladly use some rewards to subsidize the cost of things that add some pleasure to my life.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape



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