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A pretty straight-forward question... I searched this forum and found this thread - http://forums.somethingawful.com/showthread.php?threadid=3236400 - which has a lot of great advice, not not quite the emphasis on Rewards as I'd like. Anyway, I make decent money, am not in debt, and have good credit. I have a Visa card with my credit union, but it has no set of 'rewards' (and none of their credit cards do), so it basically sits in my wallet unused except for the few times my Debit card doesn't swipe. I'm looking for a Visa/Mastercard or even AmEx with a good reward system. I'd like to avoid being locked into having a 'reward' that can only be cashed in at one place (like Amazon or Costco), but if it's an exceptional deal, I'd go for it. Interest Rate and Credit Limit are not important (within reason), since I doubt I'll ever really carry a balance on it. My ideal usage here is a card I can use for all my daily purchases (lunch, dinner, eating out, movies, groceries, gas, whatever) which will earn me some reward points, rather than just using my debit card everywhere. I live in the Seattle area, if that helps.
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Jan 10, 2010 22:11
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To start things off, the PenFed Visa Platinum Cashback Rewards (https://www.penfed.org/productsAndRates/creditCards/RewardCards.asp) looks awesome, but I'm not a member and I don't know how I can become one. It says I can join the NMFA for a 'low' fee (but it doesn't say that that fee is, and I have to actually fill out the app to see it), and I'm not sure what I'd be signing up for by joining. Alternately, there's the American Express Blue Cash card (http://www201.americanexpress.com/getthecard/learn-about/BlueCash) which looks decent, but not quite as good as the PenFed card. The advantage is that I don't have to become a member of anything to be eligible, but the disadvantage is that AmEx is accepted at fewer places than Visa. The Chase Freedom card also looks decent (http://www.chasefreedomnow.com/), but a lot of people were complaining about Chase in the other thread, and it seems slightly inferior to the AmEx in every way.
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Jan 10, 2010 22:47
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syphon posted:To start things off, the PenFed Visa Platinum Cashback Rewards (https://www.penfed.org/productsAndRates/creditCards/RewardCards.asp) looks awesome, but I'm not a member and I don't know how I can become one. It says I can join the NMFA for a 'low' fee (but it doesn't say that that fee is, and I have to actually fill out the app to see it), and I'm not sure what I'd be signing up for by joining. I saw this one in another thread and signed up. Just got approved, so we'll see how good it is. The fee was $30 (or it's free if you're ex-miltary.) And yeah, I'm not sure exactly what I signed up for. But I'm thinking about moving my checking account to them too.
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Jan 11, 2010 00:11
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I just signed up for the Pen Fed card last month. It was a no-brainer for me - rewards automatically credited to the bill each month, no bullshit, no hoops to jump through, no maximum rewards, no annual fee. The NMFA membership fee was a $20 one-time charge, but it would probably be worth it to me even if I had to pay that each year. I got that amount back in rewards on my first bill. I had a Citibank rewards card for a long time, but it was limited to $300/yr and I had to request a check and then deposit it. Huge pain in the rear end. Just closed that account today as a matter of fact... had to tell the rep twice "I don't want to discuss this, I already made the decision, just close my account please." He got kinda pissy
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Jan 11, 2010 00:23
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Someone in the other thread also mentioned getting declined for a Credit Card with PenFed. Do you have to sign up with NMFA before you even apply for the credit card, or do you apply for both at the same time.
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Jan 11, 2010 01:50
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syphon posted:Someone in the other thread also mentioned getting declined for a Credit Card with PenFed. Do you have to sign up with NMFA before you even apply for the credit card, or do you apply for both at the same time. It's technically two separate things, I think. But you can do it all at once. Signing up with NMFA happens immediately through the web site. They send an email right away and then you can click through that and apply for the card.
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Jan 11, 2010 01:54
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What I'm saying is, I don't want to sign up for the NMFA (and pay for it) only to be declined for a credit card from PenFed, ya know?
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Jan 11, 2010 02:07
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syphon posted:What I'm saying is, I don't want to sign up for the NMFA (and pay for it) only to be declined for a credit card from PenFed, ya know? Ah yeah, I don't think that's an option. But your best bet is probably to give their customer support a call and see if they can do that.
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Jan 11, 2010 02:13
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syphon posted:What I'm saying is, I don't want to sign up for the NMFA (and pay for it) only to be declined for a credit card from PenFed, ya know? Yes that can happen. However, it is a good credit union and you will at least have access to CD's and loans at very competitive rates. And you can always reapply in the future since you are member for life.
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Jan 11, 2010 02:39
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I had to apply 3 times to penfed before getting accepted. I think I asked for 5K and 2K and got denied. They finally accepted me when I only asked for $500 
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Jan 11, 2010 05:01
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ZeroAX posted:I had to apply 3 times to penfed before getting accepted. I think I asked for 5K and 2K and got denied. They finally accepted me when I only asked for $500 They just denied you? I always ask for way more than I want, so I asked for a large sum of money and they emailed me asking if half that was okay. The card should be here any day now!
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Jan 11, 2010 05:27
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Bah, this is making me want to go with the AmEx or Chase just to avoid the 'application fee' and hassle.
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Jan 11, 2010 06:28
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It's a small price to pay to be part of a credit union instead of a bank, which in my opinion is a pretty wise move. Also,Pen Fed posted:We do not - and will not - participate in sub-prime lending practices. We are a consistently well capitalized financial institution offering many creditworthy members superior loan value, nation-leading low rates on mortgage products with cost-saving features, and we will continue to do so. There are probably several credit unions you could join for free, but most likely they don't have awesome rewards cards. slap me silly fucked around with this message at 07:03 on Jan 11, 2010 |
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Jan 11, 2010 06:44
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As I said in my OP, I'm already part of a Credit Union, and very very happy with them. They just don't happen to offer a Credit Card with 'rewards', so my Visa I have with them just sits unused.
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Jan 11, 2010 07:08
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Sweet, I swear I read that and just forgot since the other day. Anyway, good luck. You did find their membership page, right? https://www.penfed.org/howtojoin/overview.asp There are lots of ways in besides the NMFA.
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Jan 11, 2010 07:14
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Chase Freedom dialed back the rewards so it's a pretty vanilla 1% card now. Look here for your specific spending pattern: http://www.creditcardtuneup.com/ or check out the quick summary on this FW thread, which is usually kept pretty up-to-date: http://www.fatwallet.com/forums/finance/711457/ I like the Costco TrueRewards Amex (3% gas/restaurants, 2% travel, 1% elsewhere), but it's not a complete daily spender because there are some Visa/MC only places. The coupon is something that you can spend at Costco, or just go to the front and cash it, and it's issued annually. If you never go there, it's not at all worthwhile, but if it's a monthly stop, it won't be a hassle to get your rewards. Also, if eating out, movies and entertainment stuff is a large portion of your spending, the CitiForward card has pretty decent terms on it, though the rewards are issued in TY points rather than in cash. Engineer Lenk fucked around with this message at 08:43 on Jan 11, 2010 |
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Jan 11, 2010 08:37
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I recently got Fidelity's rewards Visa and so far it's pretty good: http://personal.fidelity.com/products/checking/content/investment_rewards_card.shtml.cvsr. I do most of my banking with Fidelity and even though the card is issued by FIA their portals integrate pretty well. If I drove a car I'd probably go with the PenFed card though. No annual fee, 1.5% cash back on the first $15k, 2% after that with no limit. You don't redeem points monthly, which kind of sucks, but it's not too bad. You get 1.5 (or 2.0) points per $1 and redeem 5000 points for $50. There's also an AmEx version which is a flat 2%. At one point I remember there being a Schwab 2% cash back card with no international transaction fee but I can't find a link to it anymore and the only thing I can find is a 1% cash back card with no reference to the free international transactions. laffa fucked around with this message at 08:49 on Jan 11, 2010 |
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Jan 11, 2010 08:47
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Am I the only one for whom Chase Freedom didn't dial back their rewards? I actually got a letter about 6-8 months ago, informing me that they would be scaling back my rewards soon. Then maybe 3-4 months ago I got ANOTHER letter, informing me that the original letter was a mistake and my rewards would NOT be scaled back (I never did anything; didn't call to complain, no emails, etc). As of this month, I am still getting 3% back on $600 monthly and 1% on everything else. And on the rewards page, I still have the $250 for $200 option (I just took the $250, I want to say 2 months ago). Am I the only one? Will it be removed soon?
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Jan 11, 2010 16:26
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Don Wrigley posted:Am I the only one for whom Chase Freedom didn't dial back their rewards? I'm with you too. I've had my card since 2007 and the wife got hers in 2008. She got the letter last year and her rewards have been reduced but they have never touched mine, maybe we are grandfathered in or something? How long have you been a freedom cardholder?
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Jan 11, 2010 19:20
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Don Wrigley posted:Am I the only one for whom Chase Freedom didn't dial back their rewards? One's still good, the other's gone. The one that still works was opened in 2007 and is the original gas/groceries/quick service 3% rewards.
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Jan 11, 2010 19:42
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Mine was opened in 2008, and is the rotating categories (whatever 3 you spend most in), and I still have all the benefits. I am shocked; because I know people who NEVER got a letter and were downgraded; whereas I got a letter stating it would be taken away, and another letter retracting the original. Weird. Anyway, if I lost the benefits of this card, I'd never touch it again. So that's the advice for people looking for new rewards cards.
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Jan 11, 2010 20:05
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I really like the Citi Forward card. Unfortunately it only gives you "thank you points", but they can be redeemed 100 for dollar at Expedia. So just use them whenever you need to fly somewhere. http://www.citiforward.com/usc/forw...7D#/?screenId=0 It gives you 5 points per dollar on restaurants, which is the bulk of my spending. It's also 5 points on movies, books and music and 1 for everything else, but I usually average about 3 points per dollar a month, which is more than any other credit card. There is also a bonus of 100 points each time when you pay on time (so basically they pay you a dollar each month). Pinkied_Brain fucked around with this message at 20:43 on Jan 11, 2010 |
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Jan 11, 2010 20:41
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Does the PenFed (or really any of the decent cards in this thread) have decent billpay services? (I'd really, really like to filter my mortgage payments through a reward system) EDIT: VV I meant the card itself in this case. Apparently there are certain cards out there that have bill pay on CC's themselves, but alas, not in this case. Shalinor fucked around with this message at 22:57 on Jan 11, 2010 |
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Jan 11, 2010 21:21
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Shalinor posted:Does the PenFed (or really any of the decent cards in this thread) have decent billpay services? They do have free bill pay and the checking account looks fairly fee-free except for a $500 minimum balance. I applied for one today, so I can report back on how good the bill pay is in a few weeks. However, it doesn't seem to have any rewards, and appears to be limited to 4,000 in-house billers, unless you pay $5/month for "premium" bill pay.
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Jan 11, 2010 21:59
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The best answer is AmEx Blue Sky. They already had the best "travel" reward system on a credit card that you didn't have to pay annual fees on, but now they made it so that you can turn your points into cash, gift cards and other stuff.
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Jan 11, 2010 23:17
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I wouldn't do any card with points because it's too much trouble. But I also didn't look into AmEx because they don't serve nearly as many places as Visa/MC, or so I thought. Is that getting better these days? VVVV Well, you gotta understand that PenFed and USAA credit cash money back to my bill regularly without me having to do anything at all. So anything more is automatically too much trouble. slap me silly fucked around with this message at 00:13 on Jan 12, 2010 |
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Jan 11, 2010 23:51
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slap me silly posted:I wouldn't do any card with points because it's too much trouble. But I also didn't look into AmEx because they don't serve nearly as many places as Visa/MC, or so I thought. Is that getting better these days? With AmEx Sky, all you have to do is click on a link that takes you to a page which shows transactions eligible for redemption. You then click on one of them transactions and press submit. seriously, it's not "too much trouble." AmEx isn't accepted everywhere but in my experience, it's accepted in most places. Besides, they have the best customer service. I try to make all of my major transactions on my AmEx in case something terrible happens and I need to fight against the store and cancel/reverse the transaction. But this has never happened, though.
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Jan 11, 2010 23:59
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hog wizard posted:The best answer is AmEx Blue Sky. They already had the best "travel" reward system on a credit card that you didn't have to pay annual fees on, but now they made it so that you can turn your points into cash, gift cards and other stuff. Also, if you don't mind paying an annual fee, the Starwood Amex is a way better deal than most of the airline cards if you're trying to get air miles. You can convert Starwood points 1:1 to most airlines' mileage plans. Also, if you wait until you have 20,000 points and push them all into air miles, they'll throw in an extra 5,000 mile bonus. So basically you get 1.25 miles per dollar for a $45 annual fee, rather than $85-100 for 1 mile/$1 with the airline branded cards.
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Jan 12, 2010 05:58
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Real Killer posted:I'm with you too. I've had my card since 2007 and the wife got hers in 2008. She got the letter last year and her rewards have been reduced but they have never touched mine, maybe we are grandfathered in or something? How long have you been a freedom cardholder? Chase had exempted me from every reduction in the reward program since I've had this card. Until now. I've had the account all the way to back when when it was a shell-branded gas rewards card. Until the change in terms last month, I was getting 5% on gas / 2% on grocery & drug stores / 1% on everything else, credited monthly. I use it as my primary card and charge a lot, so I'm assuming they kept me on the good rewards program as a perk for the volume. My charge volume in 2009 was as much as ever, so I'm not sure why they knocked me down to the current rewards program. I am sure that I'm not happy about it, so it'll cease to be my primary card once I figure out a new optimal strategy. 
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Jan 12, 2010 06:30
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hog wizard posted:AmEx isn't accepted everywhere but in my experience, it's accepted in most places. Besides, they have the best customer service. I try to make all of my major transactions on my AmEx in case something terrible happens and I need to fight against the store and cancel/reverse the transaction. But this has never happened, though. This is actually somewhat important; I always charge major purchases on my AmEx. Their insurance coverage and customer service is second to none when it comes to things like that. Thankfully I've never had to use it either, but the protection it offers, to me, is worth more than squeezing an extra 1% in rewards (and if you spend a lot of money like me, the rewards are pretty good anyway).
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Jan 12, 2010 15:46
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Right, but don't rewards only (mostly) apply towards Point-of-Sale purchases, like groceries or restaurants? I'd like to wrap car payments or insurance through my credit card, but I don't think that'd help. Or am I way off?
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Jan 13, 2010 02:17
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syphon posted:Right, but don't rewards only (mostly) apply towards Point-of-Sale purchases, like groceries or restaurants? I'd like to wrap car payments or insurance through my credit card, but I don't think that'd help. Or am I way off? I pay my Geico car insurance bill with a CC.
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Jan 13, 2010 03:05
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Yes, but does it earn you reward points?
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Jan 13, 2010 08:48
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syphon posted:Yes, but does it earn you reward points? I put everything on my credit cards that they allow me to. Yes, 1% cashback on cards that have 1% cashback on everything. I'm getting it for my cable bill, insurance bill, and energy bill.
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Jan 13, 2010 14:18
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syphon posted:Right, but don't rewards only (mostly) apply towards Point-of-Sale purchases, like groceries or restaurants? I'd like to wrap car payments or insurance through my credit card, but I don't think that'd help. Or am I way off? Many insurance companies will now take credit cards, but I have never seen a loan that would. So you can pay your car insurance with a card to get rewards, but not your car payments.
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Jan 13, 2010 14:47
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I've got the Schwab Bank Invest First Visa. It is 2% unlimited cash back on all purchases and has no international fees, so you can use it when you travel anywhere. I love it with all of my heart and pay as much as I can on it for that sweet, sweet 2% cash back. http://www.schwab.com/public/schwab...type=CC&SRC=WWW I think they are trying to not issue them anymore as they took any links to it off of their website, but I found this application link by a little googling. The only thing about this card is you must also open a Schwab One Brokerage account and the cash rewards get put directly into that. However, there are no strings attached, you can transfer that cash back money anywhere you want after it is put into your Schwab One.
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Jan 13, 2010 18:21
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I was one of the people in the other thread that got turned down for a PenFed card. I asked for a $500 limit, too. I've never had a problem getting a credit card in the past so they must have more stringent rules now. It doesn't really bother me because I was able to join PenFed for free. In addition, my Chase Freedom was downgraded. I opened it in 8/2008. I was also never given the 200/$250 option with it. My buddy at work has had his Freedom card a lot longer and still has all the rewards.
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Jan 13, 2010 19:34
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Rakuk12 posted:I've got the Schwab Bank Invest First Visa. It is 2% unlimited cash back on all purchases and has no international fees, so you can use it when you travel anywhere. I love it with all of my heart and pay as much as I can on it for that sweet, sweet 2% cash back. Thanks for the link. I just got approved for this. Do you know if you can pay the cash back towards your balance?
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Feb 9, 2010 00:40
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I recently closed down all but 2 of my accounts: I kept the PenFed Visa and the AmEx Costco cards. This is a great combination because I can get tons of day-to-day cashback and rewards with the Visa and get the extended warranty, road-side assistance, free insurance on car rentals, and all the other great benefits of the AmEx card. I have all my bases covered with 2 cards. Screw all the other card companies.
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Feb 9, 2010 01:35
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dangerous.hotdog posted:I recently closed down all but 2 of my accounts: I kept the PenFed Visa and the AmEx Costco cards. Any particular reason you just closed your other accounts? Wanted to tank your credit score, or...?
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Feb 9, 2010 02:10
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