Confused for new card choice

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
15 posts
pswinontario
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Re: Confused for new card choice

Postby pswinontario » Thu Apr 30, 2015 3:20 pm

Vermonster wrote:5% sounds good, but I don't think the Freedom is going to be the best card for you. I think a more general card like the Amex BCP or EDP, Sallie Mae, or even a Double Cash.


I am completely agree to you.

But I am not student, should I apply and it does says points I am not completely understand with its point system. on one side it says 5% other side says 2500 points=$25 its confusing..


Vermonster
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Re: Confused for new card choice

Postby Vermonster » Thu Apr 30, 2015 6:50 pm

pswinontario wrote:But I am not student, should I apply and it does says points I am not completely understand with its point system. on one side it says 5% other side says 2500 points=$25 its confusing..


Good news! You don't have to be a student.

Generally you can assume you earn 1 point for each percent for each dollar spent. So 5% card gives 5 points per dollar spent. When redeeming, 1 point = 1 cent. So that's why you often see both 2500 points and $25 for the same card. Points can be used to get more than 1 cent rewards though through special programs. It all depends on the bank. I thing the Sallie Mae card is pretty close to 1 point = 1 cent though.

Really you should look at your last 3 months spending and put categories in order from greatest to least spending. Look at your top 5 and see what car is going to offer the best perks. some cards have a cap to the 5%, and offer 1% after the cap has been met. So make sure you aren't going way over the cap.

Double cash is nice because everything earns 2% when you PIF. It is a nice incentive to always PIF.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

amex007
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Re: Confused for new card choice

Postby amex007 » Fri May 01, 2015 10:58 am

Citi DC is prob the best option for the OP. It is a general card that gives you a good return (This is why I dont understand why Samuel Jackson boasts about the 1.5% cash back unlimited! for the QS).

Personally, out of the Freedom, Discover, DC - i would go for the Freedom. It has good categories altho it rotates and it is versatile as you can use your URs if you get a CSP in the future. It would annoy me at places where I want to use a Discover but they dont accept it.
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astronautcowboy
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Re: Confused for new card choice

Postby astronautcowboy » Sat May 02, 2015 1:45 pm

The Chase Freedom is a good rewards card, especially if you are thinking about applying for more cards in the future, and do not necessarily need cash back.

I got my Chase Freedom in January 2013, and a Chase Sapphire Preferred in May 2014. Fortunately, I did not use any of my Ultimate Rewards points for cash (you can redeem one point for one cent). Instead, I saved them, and now that I have the Sapphire Preferred, I can turn them in for more than just cash.

The Sapphire Preferred allows you to redeem points for airline miles, for example. These are typically "worth" more than just a penny per point. The 140,000 points I have amassed will be enough for two round-trip tickets to Japan, which is how we plan to use them.

My recommended long play:

  1. Get a Chase Freedom
  2. Use it for everything (that you can pay back in full) to start building up points
  3. Get a Chase Sapphire Preferred
  4. Combine your Ultimate Rewards points from both cards
  5. Convert your points to miles and take a free flight to someplace exotic

The sign up bonuses will help jump start your points coffers as well. Don't change them into cash!

Good luck!
Last edited by astronautcowboy on Mon May 04, 2015 9:38 pm, edited 1 time in total.

amex007
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Re: Confused for new card choice

Postby amex007 » Mon May 04, 2015 10:00 am

astronautcowboy wrote:The Chase Freedom is a good rewards card, especially if you are thinking about applying for more cards in the future, and do not necessarily need cash back.

I got my Chase Freedom in January 2013, and a Chase Sapphire Preferred in May 2015. Fortunately, I did not use any of my Ultimate Rewards points for cash (you can redeem one point for one cent). Instead, I saved them, and now that I have the Sapphire Preferred, I can turn them in for more than just cash.

The Sapphire Preferred allows you to redeem points for airline miles, for example. These are typically "worth" more than just a penny per point. The 140,000 points I have amassed will be enough for two round-trip tickets to Japan, which is how we plan to use them.

My recommended long play:

  1. Get a Chase Freedom
  2. Use it for everything (that you can pay back in full) to start building up points
  3. Get a Chase Sapphire Preferred
  4. Combine your Ultimate Rewards points from both cards
  5. Convert your points to miles and take a free flight to someplace exotic

The sign up bonuses will help jump start your points coffers as well. Don't change them into cash!

Good luck!


+1
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sockdrawer-- GM 4000 | Unionplus 2200
EX 795 EQ 786 TU 790



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