Credit card rewards

[TnT]

Went back and read the discussions we've had previously. Since we have to have them anyways, let's figure out the best ones to get (in the US at least).

What cards people have or have seen that get them good deals / discounts / rewards. Now that I have a job I want to start building my credit rating. I have a no frills low interest one but I figure I should have one with good benefits and use it for all online transactions.

The two I'm considering right now:
* REI card - discounts on REI purchases (outdoor supply store) and ~10% dividend each year plus 20-25% off coupons once in a while.

* NFL Extra Points - cool Buffalo Bills card, 1 point per $1 - basically $25 gift certificate for $4000, or I can save up 800000 points and get VIP Super Bowl experience.

I'm not a big traveler, so frequent flyer miles aren't important to me.

[Umfriend]

Out of interest, what interest rates do they charge and as off when (I mean, as date of purchase, 1st of next month after purchase etc). What do you mean by 10% dividend each year? The BFL, you mean 4000 points are roughly 25$? That's like a 0.6% discount. Can you spend the certificate anywhere or just in expensive shops?

[Guru]

A bit off topic but... http://www.securescience.net/exploit...sspay_vuln.wmv

[rylan]

If you're going to pay off the credit card every month, then the rewards cards are great. However, if you are going to carry a balance and pay interest, you might end up paying more due to the generally higher rate on rewards cards than the actual reward is worth.

[Helevitia]

My favorite subject

I am a credit card reward whore The best card out right now is the Citi Dividend card. You get 5% back on Groceries, Gas, and Prescriptions and 1% on everything else. It caps at $300/year. So then you also get the AT&T Universal card since it has the same rewards. That way, when you cap the first card, you can move to the second This is what I do currently.

Personally, I don't care about anything except for cashback. Are you in college? If so, there is another great card that gives you discounts at restaraunts, college books, etc...

As far as the interest rates are concerned, I don't look at them since I always pay off my cards each month. It took me until I was 33(I'm 34 now) to stop using my creit cards as loans.

There is something else I've been doing for the last year. It's called stoozing. Check out this thread for more info. I made ~$1500 last year from stoozing, cashback, etc...

If you want more info about any of this stuff, let me know.

[Jammrock]

You just have to be careful. Have too many credit cards can hurt your credit score, and having too much debt in credit cards kills your credit score.

We get 3% back on gas and 1% of everything else off our Conoco Phillips 66 card, and 1%-3% on our Costco Amex. I'll have to tell my wife about the those other two cards ... once our new mortgage is squared away.

We really like the Conoco one because they give us cash back each month, not only annual.

[Wombat]

* REI card - discounts on REI purchases (outdoor supply store) and ~10% dividend each year plus 20-25% off coupons once in a while.

I've got that one. It's the same 10% dividend on REI purchases as if you were using cash. Plus 1% dividend on non-REI purchases. The dividend is applicable to REI purchases only, it's not pure cash back (but hey, my REI dividend is $140 this year )Decent US Bank web interface. I don't have an account with US Bank, so I only get some of the features, but it's enough to be able to pay the bill online for me.
The customer service is fantastic (the two or three times I've had to call them), and my credit limit has gone up very quickly (I use this card for large purchases now, or when a place doesn't take Discover).

My main credit card is my Discover. 1% cash back on everything, plus promos that give 5% on various things at various times. Customer service is so-so, and they've been slow to up my credit limit, but the web interface & e-mail automation systems are great.

[Dr Mordrid]

I don't even bother with credit cards any more; we just use a debit card with a credit cards face and leave it at that. The bank charges no fees for the debit cards use and even gives gift cards (with a Master Card number) at whatever value we want for making online purchases. Safety first

Dr. Mordrid

[xortam]

Rei

... The dividend is applicable to REI purchases only, it's not pure cash back ...

REI does cash out your remaining dividend after awhile.

[Wombat]

REI does cash out your remaining dividend after awhile.

Are you sure? I've lost dividends in the past (I moved, and the paperwork didn't follow me). I'd rather just get the cash anyway (since I don't think purchases made with dividend checks are eligible for the dividend themselves).

[Wombat]

I don't even bother with credit cards any more; we just use a debit card with a credit cards face and leave it at that. The bank charges no fees for the debit cards use and even gives gift cards (with a Master Card number) at whatever value we want for making online purchases. Safety first

Dr. Mordrid

If you're worried about safety first, then why are you using debit cards? They're not as protected by law as credit cards are, in case of fraud or theft. You're exposed. And plenty of credit cards (like Discover) can instantly generate one-time-use numbers (with user-defined credit limits).

Meanwhile, I've never paid any fees on my Discover card, but get all sorts of perks (the cash back, discounts at certain places, free travel insurance.....). I'll never understand the "we don't use credit cards, we use debit cards" crowd. You've given up benefits, security, and seem to be smug about it.

[xortam]

Are you sure? ...

Yep! I've gotten cashed out a couple times now. I can't recall how long it takes but it may say the date somewhere on the dividend notice (can't find it right now).

... I've lost dividends in the past (I moved, and the paperwork didn't follow me). ...

You can just give them your REI number and ID and they'll process your dividend. They check your REI number to see what your current balance is. We get a nice sized dividend every year and it takes several visits to whittle it down and sometimes it eventually got cashed out. I think you do get dividend points on dividend refund purchases but I'm not sure. You don't get dividend points on discounted items.

[Dr Mordrid]

I'll never understand the "we don't use credit cards, we use debit cards" crowd. You've given up benefits, security, and seem to be smug about it.

1. we only use the debit card on terminals at major retailers and at ATM's. Cash or money orders ($0.50 at the corner store) otherwise. We also get "rewards" and the bank covers unauthorized uses, so there.

2. online purchases are done using gift cards in the exact amount of the purchase. No real inconvenience and the amount can be the exact amount of the purchase, rendering the cards number etc. useless afterwards. As secure as you can be with online purchases.

[TnT]

Yeah, I heard the Citibank cards had pretty good rewards. Although the Citibank PIN scandal is worrisome. It's a problem with their debit cards, but what other stupid architectures have the created?