Credit Card Rewards Thread

Zoe · Aug 13, 2019

jcs said:
Does this sound good?

The Discover is restaurants too for this quarter, FYI. You're missing regular Chase Freedom which is useful since even though their categories are similar to Discover, they tend to do them in different quarters.

Do you always buy your clothes from the same retailer? Sometimes it benefits to get their charge card, or at least join their perks program.

You should get a card that gives at least 3% on gas unless you don't drive.

Deleted member 46493 · Aug 13, 2019

Zoe said:
Do you always buy your clothes from the same retailer? Sometimes it benefits to get their charge card, or at least join their perks program.

Nah, a bunch of different stores and usually direct from the brand. None have anything resembling a credit card.

I also forgot to mention I don't drive or need gas, which makes a lot of rotating cash back cards useless at least a quarter of the year. I should've gotten Chase Freedom instead of Discover back in the day but I didn't foresee myself moving to NYC (where Chase is king). The area I used to live in had almost no Chase presence! Maybe in the future I'll switch to that but I'm not trying to open too many cards at the same time.

TheSkullPrince · Aug 13, 2019

DarthSontin said:
It's usually better to wait until the payment is due because there's no reason to give up money before you have to. The only reason to pay things off sooner is if you're making big purchases that make you use up a significant amount of your available credit.

MasterChumly said:
Never pay your balance before you get a statement. Otherwise your utilization may get reported at 0. Just set it up for auto pay for your statement and pick whenever you want to pay the balance during the statement timeframe . Carrying a balance gets widely confused with having to pay interest but all you need to do is let the statement generate and pay it off before the due date.

Thanks for the advice

TheAggroCraig · Aug 13, 2019

So I'm going to be traveling to Japan in October and was hoping to get a reliable backup card to have in case shit goes down or something. I already have a card that has no international fees (Jetblue Mastercard), so I was looking for something to compliment it while I'm there if anyone has suggestions.

I've been told it's a very cash heavy country, but I still would like to rely on not just one card the entire trip.

Syriel · Aug 13, 2019

TheSkullPrince said:
Is it better to pay off your entire balance monthly when it's due or make a payment as soon as the balance shows up and keep doing that (i.e. I buy something and then the amount charged for what I bought shows up on my balance and then pay it immediately)?

Pay in full on statement due date. No need to pay immediately.

reKon said:
I thought there credit score benefits for consistent early payments?

Consistent, on time payments, yes. Early payments, no.

spindashing said:
Is the magic number 10% or 30%? i've been keeping my balances to the latter.

Under 10% is ideal. Under 30% is good. We're talking a few points difference here. Not really worth stressing over unless you're applying for a mortgage and are borderline on your score.

MasterChumly said:
Never pay your balance before you get a statement. Otherwise your utilization may get reported at 0. Just set it up for auto pay for your statement and pick whenever you want to pay the balance during the statement timeframe . Carrying a balance gets widely confused with having to pay interest but all you need to do is let the statement generate and pay it off before the due date.

"Carrying a balance" means not paying the monthly statement in full (and as a result paying interest). If you pay the statement balance in full, you aren't carrying a balance.

reKon · Aug 13, 2019

Syriel said:
Pay in full on statement due date. No need to pay immediately.

Consistent, on time payments, yes. Early payments, no.

Under 10% is ideal. Under 30% is good. We're talking a few points difference here. Not really worth stressing over unless you're applying for a mortgage and are borderline on your score.

"Carrying a balance" means not paying the monthly statement in full (and as a result paying interest). If you pay the statement balance in full, you aren't carrying a balance.

Good to know that I've been doing auto pay for most of the time. It through me off here when I read months ago that it's beneficial to pay off early, but I didn't actually follow that advice and left it on autopay. I need my average cash balance working for me. No reason to give up free money that will generate interest.

MasterChumly · Aug 13, 2019

Syriel said:
"Carrying a balance" means not paying the monthly statement in full (and as a result paying interest). If you pay the statement balance in full, you aren't carrying a balance.

Correct. I misspoke and should have said utilization gets confused with paying interest

Syriel · Aug 13, 2019

TheAggroCraig said:
So I'm going to be traveling to Japan in October and was hoping to get a reliable backup card to have in case shit goes down or something. I already have a card that has no international fees (Jetblue Mastercard), so I was looking for something to compliment it while I'm there if anyone has suggestions.

I've been told it's a very cash heavy country, but I still would like to rely on not just one card the entire trip.

Capital One Quicksilver. No annual fee. No foreign transaction fee. 1.5% cash back. Solid backup card

reKon said:
Good to know that I've been doing auto pay for most of the time. It through me off here when I read months ago that it's beneficial to pay off early, but I didn't actually follow that advice and left it on autopay. I need my average cash balance working for me. No reason to give up free money that will generate interest.

Autopsy is the way to go. Honestly once you collect more than 2 or 3 cards, you don't have to worry about utilization. Never cancel a card, and before you know it, you'll have a total credit limit equal to or greater than your annual salary.

At that point utilization isn't a concern because you're not likely to drop that much in a month.

BAD · Aug 13, 2019

If I want to simplify my card lineup and quit using my Citi Double Cash, should I care about adding a subscription to it to keep it active? Or can I let it be unused from now on and it will stay open?

I guess I'm just thinking it would be bad for it to close from inactivity but I really would rather just stop using it. I'm tired of checking so many apps to maximize Cashback. I'd rather just stick to Chase and Apple Card at most.

Vic Damone Jr. · Aug 13, 2019

Why is the freedom unlimited better than double cash? Seen someone say it was.

Zoe · Aug 13, 2019

The Last Wizard said:
Why is the freedom unlimited better than double cash? Seen someone say it was.

3% sign up bonus and if you have Sapphire Reserved you can transfer the points.

Syriel · Aug 13, 2019

BAD said:
If I want to simplify my card lineup and quit using my Citi Double Cash, should I care about adding a subscription to it to keep it active? Or can I let it be unused from now on and it will stay open?

I guess I'm just thinking it would be bad for it to close from inactivity but I really would rather just stop using it. I'm tired of checking so many apps to maximize Cashback. I'd rather just stick to Chase and Apple Card at most.

You can just use it once every 12-18 months to keep it active. Though if you're going for rewards, you'd be better off letting the Apple Card sit idle and using the Citi Double Cash alongside the Chase card.

The Last Wizard said:
Why is the freedom unlimited better than double cash? Seen someone say it was.

Depends on how you count the redemption value of the points. If you pair an Unlimited with a Chase card that can transfer points to an airline, you can exceed the value of 2 cents per point on redemption.

That said, for most, a straight 2% CB is hard to beat on a regular basis, so the Citi Double Cash makes a solid daily driver.

gdt · Aug 13, 2019

jcs said:
Hi everyone, I posted earlier inquiring about the Chase Sapphire Preferred and I'll apply to it Monday. However, this will be by fifth card. I'm not a credit card enthusiast so I want to some help "simplifying" my usage.

Quick profile: Outside of rent and groceries, I mostly spend money shopping (clothes) and food/drinks. I travel at least once a year but will hopefully travel more often in 2020 and beyond. Cash back has been nice but I've not found it life changing so I'm focusing on travel rewards.

I have:

- Discover Card, 5% cash back rotating balance (my first credit card)
- AmEx Blue Cash Everyday, 3% on groceries but can only redeem after $25 has been accrued
- Amazon Prime Card, 5% on Amazon/Whole Foods, 2% groceries/retaurants, 1% everything else
- Chase Freedom Unlimited, 1.5% flat cash back

I'm thinking of shelving and not using the AmEx in favor of the Amazon after I redeem my cash back because I dislike the "wait till you have $25 to redeem" and I can order from Whole Foods. Worst case scenario, 2% isn't bad.

The Discover card I can also shelve and only use if the cash back rotation is good. Right now it's PayPal so getting good cash back from online purchases but I rarely used it outside of that this year.

So my "strategy" then would be, Amazon for Amazon/Whole Foods/grocery, CFU for regular purchases, and use the points for that towards CSP travel rewards, and then use the CSP for dining/travel.

Does this sound good?

You should really get the CSR man

BAD · Aug 13, 2019

Syriel said:
You can just use it once every 12-18 months to keep it active. Though if you're going for rewards, you'd be better off letting the Apple Card sit idle and using the Citi Double Cash alongside the Chase card.

Depends on how you count the redemption value of the points. If you pair an Unlimited with a Chase card that can transfer points to an airline, you can exceed the value of 2 cents per point on redemption.

That said, for most, a straight 2% CB is hard to beat on a regular basis, so the Citi Double Cash makes a solid daily driver.

I hate the Citi app and their $25 Cashback minimum. I'll forgo the Cashback for a slicker card experience and one less app to open each day.

gdt · Aug 13, 2019

BAD said:
If I want to simplify my card lineup and quit using my Citi Double Cash, should I care about adding a subscription to it to keep it active? Or can I let it be unused from now on and it will stay open?

I guess I'm just thinking it would be bad for it to close from inactivity but I really would rather just stop using it. I'm tired of checking so many apps to maximize Cashback. I'd rather just stick to Chase and Apple Card at most.

The double cash is better than the apple card. Just keep the apple card for Apple purchases

Syriel · Aug 13, 2019

BAD said:
I hate the Citi app and their $25 Cashback minimum. I'll forgo the Cashback for a slicker card experience and one less app to open each day.

Why do you use the Citi app? Just drop the card into the payment app of your choice and be done with it.

As for redemption, I usually bank the rewards for a bit anyway, so the $25 min was never a huge hurdle. If it is, then point taken.

FliX · Aug 13, 2019

I have a few cards that I haven't used for months or even years, but they are my oldest cards. Therefore I want to keep them on file. Should I go out and buy a packet of gum with them once a year or does not really not matter that they are basically just on file?

Deleted member 46493 · Aug 13, 2019

gdt said:
You should really get the CSR man

Even if I travel once or twice a year? Gotta say the perks look good. Would the $300 "travel cost" reimbursement count towards Uber to/from airports?

gdt · Aug 13, 2019

jcs said:
Even if I travel once or twice a year? Gotta say the perks look good. Would the $300 "travel cost" reimbursement count towards Uber to/from airports?

Pretty sure yes. Parking, tolls, hotels, air fare, cab fare...lots of things qualify for that travel credit.

Imo, even once a year is worth it. The perks are insane for the minimal fee difference to the Preferred. The lounge pass, oh man that thing made our trip to Italy much better.

Chan · Aug 13, 2019

jcs said:
Even if I travel once or twice a year? Gotta say the perks look good. Would the $300 "travel cost" reimbursement count towards Uber to/from airports?

Yes. Any travel

Syriel · Aug 13, 2019

FliXFantatier said:
I have a few cards that I haven't used for months or even years, but they are my oldest cards. Therefore I want to keep them on file. Should I go out and buy a packet of gum with them once a year or does not really not matter that they are basically just on file?

That's what I do. Buy a random thing to keep account active.

BAD · Aug 13, 2019

jcs said:
Even if I travel once or twice a year? Gotta say the perks look good. Would the $300 "travel cost" reimbursement count towards Uber to/from airports?

gdt said:
Pretty sure yes. Parking, tolls, hotels, air fare, cab fare...lots of things qualify for that travel credit.

Imo, even once a year is worth it. The perks are insane for the minimal fee difference to the Preferred. The lounge pass, oh man that thing made our trip to Italy much better.

Isn't Preferred the better signup bonus now though? So a lot of people get that first for the bonus and then do a product change via customer service after they get the bonus

BAD · Aug 13, 2019

gdt said:
The double cash is better than the apple card. Just keep the apple card for Apple purchases

I guess I see it as a trade off rather than better above all. I'd rather be able to use my Cashback every week or month as I choose instead of having to build up $25 minimum - I don't hit that very fast. I'd rather have no foreign transaction fees. I'd rather not use the Citi app.

On the other hand I do have several Apple subscriptions that will be at 3% and use Apple Pay every day for lunch and groceries. The other stuff I can use Freedom Unlimited and Freedom for.

I don't know what's better about double cash besides 2% rate? Maybe you know something I don't?

I'm probably biased and just looking for a reason to drop Citi, but I am ready to drop a card from my wallet.

Syriel · Aug 13, 2019

BAD said:
I guess I see it as a trade off rather than better above all. I'd rather be able to use my Cashback every week or month as I choose instead of having to build up $25 minimum - I don't hit that very fast.

PayPal 2% CB card has no minimum redemption.

BAD said:
I'd rather have no foreign transaction fees.

I don't usually think about this since about half of my cards don't have it, but the PayPal 2% CB card has no foreign transaction fees.

BAD said:
I'd rather not use the Citi app.

So don't use it. There is zero need to use the Citi app.

BAD said:
On the other hand I do have several Apple subscriptions that will be at 3% and use Apple Pay every day for lunch and groceries.

BoA has a card that gives 5% back on online purchases (no annual fee).

Uber card is 4% back on restaurants (no annual fee, no foreign transaction fee).

3% CB is the AmEx standard on groceries and you can get higher on a rotating card.

BAD said:
I'm probably biased and just looking for a reason to drop Citi, but I am ready to drop a card from my wallet.

Max out rewards based on your needs. And with digital wallets these days, multiple cards is super easy. A half dozen adds up in your physical wallet. In a digital wallet, it's just another swipe.

Chan · Aug 13, 2019

BAD said:
I guess I see it as a trade off rather than better above all. I'd rather be able to use my Cashback every week or month as I choose instead of having to build up $25 minimum - I don't hit that very fast. I'd rather have no foreign transaction fees. I'd rather not use the Citi app.

On the other hand I do have several Apple subscriptions that will be at 3% and use Apple Pay every day for lunch and groceries. The other stuff I can use Freedom Unlimited and Freedom for.

I don't know what's better about double cash besides 2% rate? Maybe you know something I don't?

I'm probably biased and just looking for a reason to drop Citi, but I am ready to drop a card from my wallet.

Seems more like you're looking for a reason to justify your Apple Card than dropping your Citi DC.

BAD · Aug 13, 2019

Syriel said:
PayPal 2% CB card has no minimum redemption.

I don't usually think about this since about half of my cards don't have it, but the PayPal 2% CB card has no foreign transaction fees.

So don't use it. There is zero need to use the Citi app.

BoA has a card that gives 5% back on online purchases (no annual fee).

Uber card is 4% back on restaurants (no annual fee, no foreign transaction fee).

3% CB is the AmEx standard on groceries and you can get higher on a rotating card.

Max out rewards based on your needs. And with digital wallets these days, multiple cards is super easy. A half dozen adds up in your physical wallet. In a digital wallet, it's just another swipe.

I'm a little confused on how to avoid the Citi app... how would I see all my transactions and make payments? I'm not familiar with ways around that

Those other cards seem good but I'm trying to be interested and am not. I don't want to apply for more cards right now.

Syriel · Aug 13, 2019

BAD said:
I'm a little confused on how to avoid the Citi app... how would I see all my transactions and make payments? I'm not familiar with ways around that

1) See transactions via a monthly statement or via the website.
2) Autopay. Why worry about manual payments?

BAD · Aug 13, 2019

Chan said:
Seems more like you're looking for a reason to justify your Apple Card than dropping your Citi DC.

Not quite, I am not having any doubts about the Apple Card being one I would enjoy playing with. I am tired of the Citi Card and their minimum redemption when I go to look at what I have in the app. I like my Chase cards just fine and don't have complaints about those.

I am weighing the appeal for me of dropping Citi is all. I love the idea of one less card to ever think of now that I've got the Apple Card. I'm sure that sounds silly that I added a card and now think I have too many to deal with. But alas, I like the newer one more than the older one.

So yes the Apple Card is to blame but no I am not having trouble justifying it for my personal wants.

Syriel said:
1) See transactions via a monthly statement or via the website.
2) Autopay. Why worry about manual payments?

Oh I mean I have Autopay on but I pay down excess before the statement hits to keep reported utilization low on months I used it a lot.

Chase cards are easy for me because I like their app and I also bank with chase so I can see all my accounts and cards together. I can redeem rewards in as many pieces as I want when they post. That's a nice ecosystem to me.

Syriel · Aug 13, 2019

BAD said:
Oh I mean I have Autopay on but I pay down excess before the statement hits to keep reported utilization low on months I used it a lot.

If you are that worried about utilization, you shouldn't be cancelling any cards. You should be getting more to raise your total credit limit.

There are generally few people (new credit users, poor credit history, mortgage shoppers) that need to worry about utilization. The vast majority of people can just ignore it.

BAD · Aug 13, 2019

Syriel said:
If you are that worried about utilization, you shouldn't be cancelling any cards. You should be getting more to raise your total credit limit.

There are generally few people (new credit users, poor credit history, mortgage shoppers) that need to worry about utilization. The vast majority of people can just ignore it.

I wasn't going to cancel it, hence me checking what it takes to keep it alive above.

My daydream today is to have one card for rotating categories (not gonna deal with using separate Discover and Chase for this, Chase is enough), one for travel benefits (I haven't gotten this one yet and won't for a little while), one for subscriptions/Apple, and Freedom Unlimited for just in case extra purchases.

So I want the Chase trifecta + Apple Card and be done with it I guess?

I get that I could also get a card for groceries, another for gas, another for food, another for online purchases, etc but I'm not interested in that at the moment. Can't help it.

Syriel · Aug 13, 2019

BAD said:
My daydream today is to have one card for rotating categories (not gonna deal with using separate Discover and Chase for this, Chase is enough), one for travel benefits (I haven't gotten this one yet and won't for a little while), one for subscriptions/Apple, and Freedom Unlimited for just in case extra purchases.

So I want the Chase trifecta + Apple Card and be done with it I guess?

Based on what you've said in the thread and your preference for keeping cars to a minimum, this is what I'd go with to maximize rewards with your spend:

Chase Sapphire Reserve for travel/restaurants.
Chase Freedom for rotating.
BoA Cash Rewards for 5% online (that covers your subs).
PayPal 2% CB as daily driver for "everything else" if you don't want to bother with specific cards.

BAD · Aug 13, 2019

Syriel said:
Based on what you've said in the thread and your preference for keeping cars to a minimum, this is what I'd go with to maximize rewards with your spend:

Chase Sapphire Reserve for travel/restaurants.

Chase Freedom for rotating.

BoA Cash Rewards for 5% online (that covers your subs).

PayPal 2% CB as daily driver for "everything else" if you don't want to bother with specific cards.

That's a greats set thanks! But then I'd have to drop the Freedom Unlimited I have already have and don't those points convert to 2.25% on travel when redeemed through Reserve? And then I went to check out the BoA Cash Rewards Card But only see one that says 3% on a category of my choice?

Chan · Aug 13, 2019

BAD said:
That's a greats set thanks! But then I'd have to drop the Freedom Unlimited I have already have and don't those points convert to 2.25% on travel when redeemed through Reserve? And then I went to check out the BoA Cash Rewards Card But only see one that says 3% on a category of my choice?

Just product change the CFU to the regular Freedom.

BAD · Aug 13, 2019

Chan said:
Just product change the CFU to the regular Freedom.

I already have a Freedom

Syriel · Aug 13, 2019

BAD said:
That's a greats set thanks! But then I'd have to drop the Freedom Unlimited I have already have and don't those points convert to 2.25% on travel when redeemed through Reserve? And then I went to check out the BoA Cash Rewards Card But only see one that says 3% on a category of my choice?

Sorry, yeah 3% for the BoA. That was a typo.

The "2.25% when redeemed" is a bit of a misnomer because you can often find better deals outside of the portal.

The real value in CSR is not the portal, but transferring points to a partner for direct redemption.

As for Freedom vs Unlimited it's a question of going all in on Chase or diversifying. Personally I prefer the latter.

The majority of my points are on Chase. Secondary is airline (maxxing out AA these days). Third is cash back. With the latter it's super easy to max discounts, but it does require multiple cards.

For example, 5% Amazon card (or same at Target) is an effective 5% off everything you buy.

Syriel · Aug 13, 2019

reKon · Aug 13, 2019

Syriel said:
Sorry, yeah 3% for the BoA. That was a typo.

The "2.25% when redeemed" is a bit of a misnomer because you can often find better deals outside of the portal.

The real value in CSR is not the portal, but transferring points to a partner for direct redemption.

As for Freedom vs Unlimited it's a question of going all in on Chase or diversifying. Personally I prefer the latter.

The majority of my points are on Chase. Secondary is airline (maxxing out AA these days). Third is cash back. With the latter it's super easy to max discounts, but it does require multiple cards.

For example, 5% Amazon card (or same at Target) is an effective 5% off everything you buy.

^ This is the approach I take for Amazon and Target.com. For Target, I decided to go with the debit card though. 5% + free ship on target orders is a no brainer. The frequently run their deal where if you purchase of $50+ in groceries you receive a $15 giftcard, which stacks with the 5% off.

I'm not using Amaze Prime currently so it's just 3% off, but it's still a no brainer.

If I'm not trying to get a bonus from another card, it's all about the Chase Sapphire Perferred + Chase Freedom Unlimited

I have not been able to really plan how to use the partner to partner redemption to maximize my points yet because it honestly seems complicated (depends on what airline I'm going to take for a flight and it's hard to understand airline miles in terms of relative value).

dallow_bg · Aug 13, 2019

The $25 minimum for CB redemption has never bothered me. I actually mentally dislike redeeming such low amounts as I don't really "feel" it lol.

I several hundred dollars just chilling there. I guess I should throw it into savings.

Chan said:
Seems more like you're looking for a reason to justify your Apple Card than dropping your Citi DC.

This lol.

The Citi app seems like one of the better banking apps too. Not sure what's wrong with it.

TheSkullPrince · Aug 13, 2019

Syriel said:
Pay in full on statement due date. No need to pay immediately.

Consistent, on time payments, yes. Early payments, no.

Thank you. For some reason I was under the impression that they charge you interest automatically when they give you your monthly statement/balance.

Syriel · Aug 13, 2019

TheSkullPrince said:
Thank you. For some reason I was under the impression that they charge you interest automatically when they give you your monthly statement/balance.

Nope. As long as you pay the statement balance in full every month new charges are on an interest free grace period.

If you carry a balance (aka pay less than statement balance) then there is no grace period and you pay interest from day of purchase.

Cash advances are the exception. There is never a grace period for those. You always pay interest from day one on an advance.

sangreal · Aug 13, 2019

spindashing said:
Is the magic number 10% or 30%? i've been keeping my balances to the latter.

the correct answer is it makes absolutely no difference unless you are actively seeking credit (in which case it's ~10% as people have noted)

Deleted member 39374 · Aug 13, 2019

What's the best balance transfer card/offer right now?

BAD · Aug 13, 2019

Double

BAD · Aug 13, 2019

Polymerization said:
What's the best balance transfer card/offer right now?

Longest is Citi at 21 months, cheapest is AMEX with no transfer fee

Syriel · Aug 13, 2019

Polymerization said:
What's the best balance transfer card/offer right now?

Chase Slate is usually the go-to recommendation for no fee transfers.

BAD · Aug 13, 2019

Syriel said:
Chase Slate is usually the go-to recommendation for no fee transfers.

Didn't realize this card still existed! Other forums have said that they were told it's being discontinued but I guess that didn't happen yet

Deleted member 39374 · Aug 13, 2019

BAD said:
Longest is Citi at 21 months, cheapest is AMEX with no transfer fee

Syriel said:
Chase Slate is usually the go-to recommendation for no fee transfers.

I heard about the Citi, might go for that one.

Physical Apple Card came in today btw, and I got made fun of for using it. "I heard on the news it's for people with low credit scores" LOL. Is that really the narrative right now?

BAD · Aug 13, 2019

Polymerization said:
I heard about the Citi, might go for that one.

Physical Apple Card came in today btw, and I got made fun of for using it. "I heard on the news it's for people with low credit scores" LOL

vehn · Aug 13, 2019

Anyone have the world of Hyatt credit card? Thinking about it, as I want some free hotel stays

TheSkullPrince · Aug 13, 2019

Should I ditch my starter credit card?

I still have my regular, no benefits/points Capital One credit card I got back in 2008 when I turned 21 (got it to help me build credit). But I never use it since my other cards give me points (used it to buy a gift card a month ago to keep it active).

This is my current set-up:

-Amazon Prime Chase Card (I use Amazon A LOT so this is a no-brainer, plus the 2% back for gas is nice)
-Discover It (5% for restaurants right now)
-Uber Visa (my most recent card, thought it was too good to be true lol)

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