Thread: Best rewards card for young, low spender, with great credit??

Situation: 26 years old, renter, full time job, excellent credit. No debt or loans outstanding.

But i'm not a very big spender, maybe topping out around $1000 per month (unless I make a big purchase). Also i am not a business traveler. I currently have a Visa Platinum Plus card that I use and pay off each month, I would like to add a second card to begin using for rewards and all purchases instead of my debit card (new fees!!!). I think I would prefer travel rewards in lieu of cash back.

Most of the great rewards cards seem to be catered to business travelers and big spenders which I am neither. Especially those with annual fees, which may completely out the rewards in my situation. What would you recommend to someone who wants to get as much as they can back in rewards for as little as they spend?

Two cards i've looked at are the Chase Sapphire (Preferred maybe?) or the Priority Club Visa which offers a free hotel night each year. But I'm open to other suggestions.

I would suggest the capital1 venture gold. I understand you don't travel on business so I'm not going to suggest an airline or hotel card. I also don't travel on business and I have the card.

you get 1.25 miles per dollar you spend, if you spend 1,000 in the first 3 months you get 10,000 bonus miles. there's 0 % foreign transaction fee. you get a concierge on this card, so let's say for example you and a friend want to go out for dinner and the restaurant is a 20 minute drive. with the gas prices the way they are, no reason to go to the place to make reservations. just pick up the phone and you can call the concierge. they will do it for you. they also help plan vacation trips, sporting events.

you might also be interested in a Discover card. Not the More card that most people have but the open road card or escape. I don't have these cards but I think you can redeem for miles. you don't necessarily have to travel on business for these Discover cards. However when you plan on making a purchase or going out to eat, you should ask if the merchant takes Discover because there are some places don't. But any of those 3 Discover cards would be good for you. open road, Miles or escape.

Have you checked Hsbc?

the Chase Sapphire card is nice since you don't travel on business Don't get the preferred. there's a 95 annual fee (obviously the first year is waived) but since you don't travel on business just get the basic sapphire.

as Far as American Express goes I would suggest Blue, not Blue Cash. this is a membership rewards card and there's no annual fee and like you are saying you're looking for travel over cash rewards. however this card has a foreign transaction fee 2.7%. it's a good card. it's not the executive card like the Green or Gold but it doesn't have an annual fee either.

How easy or difficult is it to downgrade a Chase card before the end of the 1 year cycle? The Chase Sapphire and Preferred both require the same amount on introductory spending to get the bonus. I might as well try to get the 50k bonus and wave the annual fee and then downgrade to a standard Sapphire at the end of the first year cycle.

I keep my eyes on Hotel cards because I feel like most of my trips and mini-vacations are all road trips and cards like the Hyatt and Priority Club offer annual free nights, but aside from that their rewards don't seem nearly as good as a standard rewards card.

Originally Posted by Money card

Have you checked Hsbc?

the only card I see available from HSBC, USA is the Premiere World Mastercard with this fine print. To qualify for an HSBC Premier relationship, you need to open an HSBC Premier checking account and maintain $100,000 in combined U.S. personal deposit and investment balances. Business owners may use their commercial balances to qualify for personal HSBC Premier relationship.

i definitely do not qualify for that.

Originally Posted by MikeMayhem

How easy or difficult is it to downgrade a Chase card before the end of the 1 year cycle? The Chase Sapphire and Preferred both require the same amount on introductory spending to get the bonus. I might as well try to get the 50k bonus and wave the annual fee and then downgrade to a standard Sapphire at the end of the first year cycle.

I keep my eyes on Hotel cards because I feel like most of my trips and mini-vacations are all road trips and cards like the Hyatt and Priority Club offer annual free nights, but aside from that their rewards don't seem nearly as good as a standard rewards card.

It would be very easy you just pick up the phone and tell the account mgr. you want to switch from the preferred to the basic.

with the Chase sapphire do you think you can get better rewards for staying at a Hyatt? with that hotel card you can only redeem through Hyatt whereas with the sapphire you can redeem for gift cards or vacation travel. But you have to do it on the chase site. how many points hyatt vs Sapphire you need to stay at Hyatt, that I don't know.

I, too, was thinking of calling up at the end of my first year to downgrade...maybe they will waive next year AF or maybe give me 10k point bonus for staying, etc.

But...one question I did have...does the normal card look as sweet as the preferred card? Everyone loves the preferred card, I wouldn't want to give it up for a normal looking regular sapphire. Also would that count as a PC so keep same account number and not show on CR as close/open?

Thanks!

I may stick with preferred for two years and just look at it like 2 years of $48 annual fee. That way I can get the 7% yearly points dividend and then downgrade.

I think the Sapphire and Preferred Sapphire are the same minus the word preferred. Excited to get this thing in!

You should get the capital one venture. I love mine. With your level of spending you will get the initial bonus (i think its 1,000 in 3 months) and that gives you 25,000 miles... thats 250 just to start.

I hate to correct someone but whoever said you should get the venture ONE card might be wrong. If your spending 1,000 a month... you want the venture card. It gives you 2x the points, however there is a 60 dollar annual fee.

With the venture one you would get 12,000 points at the end of the year, = 120 dollars, + no annual fee

With the venture you would get 24,000 points at the end of the year = 240 dollars, - 60 dollar fee = 180 dollars.

Thats before you even consider the extra 250 bucks worth of points you'll get in the first few months.

I think the venture card is underrated... when you look at the other cards that offer 2% rewards on hotels, airfare... venture gives you 2% on everything! And more on certain items... For instance on the rewards site there was a promotion where you got an additional 10 points per dollar on dinner at Red Robin (order over $25) so when i went to dinner there, i spend 25 bucks and got 300 points...

Similar promotions for walmart online (+1 point per dollar)
subway in-store (+5 points per dollar)
TONS of others. mostly online but a good amount of in-store.

Venture card is great if you work it.

just my .02

Have you heard about SPG card by American Express? I just heard they get good offer for airfare or hotel stay. Might be worth checking out.