Looking for a new premium Visa/Mastercard

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
Kevin86475391
Centurion Member
Centurion Member
 
Posts: 237
Joined: Wed Feb 18, 2015 9:04 pm
Location: Texas

Re: Looking for a new premium Visa/Mastercard

Postby Kevin86475391 » Tue Sep 01, 2015 8:04 pm

If you want to stay away from Citi, have a cashback card, and need it to be a Visa or Mastercard, I'd probably recommend the Chase Freedom or the Bank of America Cash Rewards.

With the Chase Freedom you'll get 5% on up to $1,500.00 spending on rotating quarterly categories. They change from year to year but for example for 2015 the bonus categories were:

January - March: Grocery stores (excluding Walmart and Target), Movie Theaters, Starbucks
April - June: Restaurants, Bed, Bath & Beyond, H&M, Overstock.com
July - Sept: Gas Stations, Kohl's
October - December: Amazon

For everything else (or for purchase over $1,500 per quarter in the bonus categories) you earn unlimited 1% cash back.

With the Bank of America Cash Rewards there are no quarters and you earn 3% cashback at gas stations (limit $1,500 per quarter), 2% cash back at grocery stores (limit $1,500 per quarter), 1% on everything else unlimited.

Both cards have no annual fee and are Visa cards. If 'premium' is a concern, the BofA is a Visa Signature which does come with some added benefits and protections compared to a regular Visa card, although I believe most/many are geared toward travel. I think one more widely applicable benefit is extended warranty protection. I think there's also a way to upgrade the Freedom to a Visa Signature, but I might be wrong.

If the new card doesn't HAVE to be a Visa/Mastercard, I absolutely recommend the Discover It.

If you're okay with a Citi card you might consider the Citi Double Cash, which is a great way to earn unlimited 2% cash back on all purchases without worrying about categories. You get 1% when you purchase something and another 1% on all your payments. The Double Cash is a World Mastercard which, like the Visa Signature, offers additional benefits and protections compared to a regular Mastercard.

I have all these cards and love them. ;)


User avatar
CarefulBuilder14
Centurion Member
Centurion Member
 
Posts: 3749
Joined: Thu May 08, 2014 7:42 pm
Location: United States

Re: Looking for a new premium Visa/Mastercard

Postby CarefulBuilder14 » Tue Sep 01, 2015 10:42 pm

Platinum is really a travel perks card. The rewards are lousy, although you do get good offers. It seems like you're spending $450 for the card but not getting much value since you travel infrequently.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Vermonster
Centurion Member
Centurion Member
 
Posts: 725
Joined: Mon Oct 01, 2012 11:09 pm
Location: NJ

Re: Looking for a new premium Visa/Mastercard

Postby Vermonster » Wed Sep 02, 2015 8:27 am

kdm31091 wrote: I have a Double Cash, which is 2%, and I like it too. If you PIF every month, you get the 2%.


Just a point of clarification; you do not have to PIF every month to receive the 2%. You get 1% of purchases and 1% of payments. so if it takes you 6 months to pay it off you will net a total of 2% of the original purchase price/balance. The only way you do not get 1% for payments is if you use your cash back balance as a statement credit.

But in response to OP, I don't think there is a card that offers the "prestige," Visa/MC, non-category rewards, and not Citi. Perhaps the best card would be the US Bank Cash+. That allows you to pick some 2% categories that will benefit you the most. After that, you'll be sacrificing one of those requirements.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

yfan
Centurion Member
Centurion Member
 
Posts: 378
Joined: Wed Jul 09, 2014 5:55 pm
Location: San Jose CA

Re: Looking for a new premium Visa/Mastercard

Postby yfan » Wed Sep 02, 2015 1:15 pm

Vermonster wrote:
kdm31091 wrote: I have a Double Cash, which is 2%, and I like it too. If you PIF every month, you get the 2%.


Just a point of clarification; you do not have to PIF every month to receive the 2%. You get 1% of purchases and 1% of payments. so if it takes you 6 months to pay it off you will net a total of 2% of the original purchase price/balance. The only way you do not get 1% for payments is if you use your cash back balance as a statement credit.

Except that if you don't PIF, then interest starts cutting into the rewards, which is what I think kdm was referring to.

whit
Centurion Member
Centurion Member
 
Posts: 508
Joined: Tue Aug 13, 2013 10:04 pm
Location: ca

Re: Looking for a new premium Visa/Mastercard

Postby whit » Wed Sep 02, 2015 10:59 pm

yfan wrote:
Vermonster wrote:
kdm31091 wrote: I have a Double Cash, which is 2%, and I like it too. If you PIF every month, you get the 2%.


Just a point of clarification; you do not have to PIF every month to receive the 2%. You get 1% of purchases and 1% of payments. so if it takes you 6 months to pay it off you will net a total of 2% of the original purchase price/balance. The only way you do not get 1% for payments is if you use your cash back balance as a statement credit.

Except that if you don't PIF, then interest starts cutting into the rewards, which is what I think kdm was referring to.


heh, and what is the APR on that if you don't pay in full?

so instead of 2% cash back its 1% -12.99% (on the lower end) and than back 1%?

eta-- i always get checks or dd into account, to put in savings but you can turn around and use it to pay the cc, therefore getting 1% back to make 2% total
either way you lose the cash back and owe citi

Vermonster
Centurion Member
Centurion Member
 
Posts: 725
Joined: Mon Oct 01, 2012 11:09 pm
Location: NJ

Re: Looking for a new premium Visa/Mastercard

Postby Vermonster » Thu Sep 03, 2015 5:31 pm

I see the point you're making, but I guess it comes down to semantics. You don't lose the 1% by not paying in full. At 12.99% I would wipe out a few months of rewards with a single month of interest. But I'm sitting on 18 months of 0% right now, so again, I don't lose the 1% by not PIF.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

yfan
Centurion Member
Centurion Member
 
Posts: 378
Joined: Wed Jul 09, 2014 5:55 pm
Location: San Jose CA

Re: Looking for a new premium Visa/Mastercard

Postby yfan » Thu Sep 03, 2015 7:50 pm

Vermonster wrote:I see the point you're making, but I guess it comes down to semantics. You don't lose the 1% by not paying in full. At 12.99% I would wipe out a few months of rewards with a single month of interest.

Actually, not quite, since the interest rate is yearly and the rewards rate is immediate. :) See, at 12.99% APY, one month's interest is roughly 1.08%, so if your reward rate is 2%, you still have 0.92% to go. (YES, I know I'm being a total math nerd party pooper right now, so feel free to do this to me ===> :beat: ).

Lol, but yes, I do see your point, absolutely. Paying interest doesn't make your rewards go away - and interest payment would wipe out the rewards amounts no matter when your rewards are deposited.

amex007
Centurion Member
Centurion Member
 
Posts: 131
Joined: Wed Apr 01, 2015 3:31 pm
Location: NY

Re: Looking for a new premium Visa/Mastercard

Postby amex007 » Fri Sep 04, 2015 6:12 pm

timothym96 wrote:Hey all,

First time posting on the forum. I think I'm a little bit too in love with CC's than a should be for being 19 (running my own business really helped me get started), but that hasn't stopped me. I'm currently using a Amex Platinum and Citi Diamond Preferred, but Citi CS has rubbed me the wrong way (long story) and I'm looking for a replacement.

Do you guys have any good recommendations for any higher end Visa and Mastercard cards? Thank you so much!


CSP
Amex Gold NPSL | Amex ED 28500 | Barclaycard Arrival 17500 | Hyatt visa signature 5000
sockdrawer-- GM 4000 | Unionplus 2200
EX 795 EQ 786 TU 790

timothym96
Green Member
Green Member
 
Posts: 7
Joined: Thu Aug 27, 2015 11:07 am

Re: Looking for a new premium Visa/Mastercard

Postby timothym96 » Sun Sep 06, 2015 10:09 pm

Applied for the CSP and was approved; thank you so much everyone!

timothym96
Green Member
Green Member
 
Posts: 7
Joined: Thu Aug 27, 2015 11:07 am

Re: Looking for a new premium Visa/Mastercard

Postby timothym96 » Tue Sep 08, 2015 2:30 pm

So much for being approved. :mad: I got a call saying that after further review (even though the site said I was approved), they can't open it not because of credit, but they simply didn't like I had 6 cards open (Three Amex which I actually did close a month ago as I only use Platinum now, Citi Diamond, Jcrew, and Best Buy) they can't reconsider the application even though it was on my credit report they were closed. After further research this is clearly a policy that was just recently put in place, but seems very odd how they can see they are closed but won't budge.

So there's a sad Tuesday morning...



Return to “Visa & MasterCard”

Who is online

Users browsing this forum: No registered users and 2 guests