Best credit card to earn rewards everywhere

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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pswinontario
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Best credit card to earn rewards everywhere

Postby pswinontario » Fri May 01, 2015 9:04 am

What are the best Credit C to earn great reward anywhere without annual fees ?

Does nt matter what kind a reward it is... cash back , travel reward . do nt care.


takeshi
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Re: Best credit card to earn reward everywhere

Postby takeshi » Fri May 01, 2015 9:14 am

Define "best". You can't just assume that a subjective word like that has universal meaning. Provide your specific criteria for narrowing down the options. Is it only the amount of rewards that matter? If so, for how much spend? Are there no other factors that matter? No other features or benefits that would be factored into your assessment of "best"? Does card acceptance/payment network matter? How about foreign transaction fees? Those are just some examples of considerations but you may have others.

Many find the Citi DoubleCash to be a good option since it is 1% on purchases and 1% on payments (very close to but not exactly 2%) regardless of category. That said, if you can leverage a given point/miles rewards program's redemptions you may be able to do better than 2% on non-category spend. You have to look at the programs to see if you can get such value per point. If you can't be bothered to do the investigation or to provide us info such as travel partners you could leverage then you might be better off just looking at cash back since the math on those rewards is much simpler.

I also recommend looking at total cost/benefit and not just AF/no AF. You need to run the numbers for your spend on any rewards card you're considering. If you're still AF averse that may rule out a lot of miles/points cards.

Nixon
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Re: Best credit card to earn reward everywhere

Postby Nixon » Fri May 01, 2015 9:46 am

pswinontario wrote:What are the best Credit C to earn great reward anywhere without annual fees ?

Does nt matter what kind a reward it is... cash back , travel reward . do nt care.


Actually, Everywhere....Let's say you didn't wanna carry more than one or two cards. Citi's DoubleCash is a great contender at a flat 1% on charge, 1% on payment in full.
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Vermonster
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Re: Best credit card to earn reward everywhere

Postby Vermonster » Fri May 01, 2015 10:22 am

You absolutely have to do the math for a "best" card. For us, 20% of our spending goes to Gas and Groceries. The Freedom does a nice job with the occasional 5% quarters, but something like the Sallie Mae, or BCP will earn a lot more. For someone in NYC, the SM loses a lot of it's perks, but the BCP is still great with the 6% on grocery.

I tend to HATE Mint.com. That being said, they do a really nice job of categorizing your spending over the last year from multiple sources. Rather than estimating your spending, you can get hard numbers to use in your calculations.
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: Best credit card to earn reward everywhere

Postby amex007 » Fri May 01, 2015 10:46 am

Nixon wrote:
pswinontario wrote:What are the best Credit C to earn great reward anywhere without annual fees ?

Does nt matter what kind a reward it is... cash back , travel reward . do nt care.


Actually, Everywhere....Let's say you didn't wanna carry more than one or two cards. Citi's DoubleCash is a great contender at a flat 1% on charge, 1% on payment in full.


I would say the amex ED.
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amex007
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Re: Best credit card to earn reward everywhere

Postby amex007 » Fri May 01, 2015 10:49 am

Vermonster wrote:You absolutely have to do the math for a "best" card. For us, 20% of our spending goes to Gas and Groceries. The Freedom does a nice job with the occasional 5% quarters, but something like the Sallie Mae, or BCP will earn a lot more. For someone in NYC, the SM loses a lot of it's perks, but the BCP is still great with the 6% on grocery.

I tend to HATE Mint.com. That being said, they do a really nice job of categorizing your spending over the last year from multiple sources. Rather than estimating your spending, you can get hard numbers to use in your calculations.


Amex gives you a yearly summary for each card. Lists how much you spend in which categories.
Altho this is for a single card and not multiple cards combined, it gives you a good idea if you put the majority of your spend on that card.
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Vermonster
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Re: Best credit card to earn reward everywhere

Postby Vermonster » Fri May 01, 2015 11:33 am

amex007 wrote:Amex gives you a yearly summary for each card. Lists how much you spend in which categories.
Altho this is for a single card and not multiple cards combined, it gives you a good idea if you put the majority of your spend on that card.


Chase does too. But a lot of our spending is Rent (paid with check), Electric (check also), and 2 car loans (Direct Debit). Plus my wife will still use her debit card for lunch or gas every once and a while so it is nice to have that included as well.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

pswinontario
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Re: Best credit card to earn rewards everywhere

Postby pswinontario » Fri May 01, 2015 12:05 pm

I would like to have better reward rather than just 1% in general.
Like airport parking or dollar general or family dollar or for ebay..

I would go for Citi DC but there is no sign up bonus and have 1%+1% so thats good

but here

I would better go for BOA travel reward . they will give u $100 as sign up and 1.5% back as a point or cash back( i do not care for points or cash back as I prefer to have it in converted into bank ac) I would also get 10% to transfer in BOA bank a/c so taotal 1.50%+15= 1.65% . So I will get flat 1.65% back on BOA travel reward.

here is a difference drives me crazy.

0.35 cents is less than Citi and I will not get bonus $100 dollars.

so If I use BOA for 30 k than after I can say that I will get better reward in citi as

but mean while u can have a better card in future than citi , hope so.

I usually spend 1k in general category for every month so I have to wait for 2.5 yrs to get satisfied with Citi(no sign up bonus)

Thats what I am thinking, ple provide any suggestions if there is better card without annual fees . to earn better than 1.65% flat cash back.

sorry for my poor English.

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Re: Best credit card to earn rewards everywhere

Postby Vattené » Sat May 02, 2015 7:33 pm

You're right to point out that a good sign-up bonus can be the equivalent of rewards on a lot of spending. There's no reason to assume you'll be using one card exclusively for the foreseeable future, so the bonus might be a legitimate factor to weigh in besides just the return rate on rewards. This is exactly why other factors should be taken into consideration. The Citi Double Cash would probably be best for you in the long run if that is all you used for five years, but how realistic is that assumption?

The same goes for annual fees. A card with an annual fee can net you more in rewards than one without, but it just depends on your personal spending. For example, the Blue Cash Everyday from American Express offers 3% back on groceries; however, the Blue Cash Preferred has 6% back with a $75 annual fee. If you only use the card to purchase $1,000 a year on merchants categorized as grocery stores, you net $30 back on the BCE ($1,000 * .03) vs. a loss of $15 on the BCP ([$1,000 * .06] - $75). If you only put $3,000 on the card at grocery stores, that changes to $90 back on BCE vs. $105 on BCP. It's fine if you want to completely rule out anything with an annual fee, but realize you could potentially be losing out on rewards if you do. Annual fee cards also have much better introductory bonuses (it takes a lot more to get one to sign up for something with a yearly cost).

Chase Freedom occasionally offers a $200 bonus. You can also find a $150 offer for the Discover It through special links. Both cases are special offers that aren't always available, so your only recourse is waiting around and jumping on them if you come across them. If you are dead set on a card with no annual fee, $100 is as good of a standard introductory bonus as I've seen.

Have you looked into the Discover It Miles card? No annual fee and 1.5% back on everything, which is pretty respectable. In lieu of a traditional introductory bonus , they double the rewards at the end of your first year. 3% back on a full year of spending - particularly if this will be your main card for everything - is pretty hard to beat.
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plus several store accounts of varying usefulness now

amex007
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Re: Best credit card to earn rewards everywhere

Postby amex007 » Sun May 03, 2015 4:49 pm

Vattené wrote:Have you looked into the Discover It Miles card? No annual fee and 1.5% back on everything, which is pretty respectable. In lieu of a traditional introductory bonus , they double the rewards at the end of your first year. 3% back on a full year of spending - particularly if this will be your main card for everything - is pretty hard to beat.


The Discover It Miles card would only be greater than the Citi DC for the first yr and maybe not even that depending on how much u spend on the 0.5% difference. For the overall long haul, just go w the Citi DC - flat 2% cashback and you dont have to worry about it not being accepted at places..
Even the QS is better than Discover Miles. I guess i'm biased since i have a philosophy of keeping cards for the long haul altho i do get enticed by nice signup bonuses but that wouldn't make my decision.
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