Anyone got one? Worth it? Some better than others? What do you guys think? I was pondering on getting one.
Anyone got one? Worth it? Some better than others? What do you guys think? I was pondering on getting one.
"The Hall of Fame is there to keep alive the memory of people. You don't need to do that with people like Buck [O'Niel] and Joe [Nuxhall]. Nobody's forgetting those guys."
- Joe Posnanski
I'm partial to cash back cards. Right now I try to use my AMEX Blue Cash as much as possible. I understand it isn't as great as it used to be, but you get 5% back on Gas, Pharmacy and Groceries (not Walmart/Target) & 1.25% on everything else once you've spent $6500 on the year(1% and .5% until then). No annual fees. I had an big time expense early in the year, so I quickly made that amount. I believe I have made about $500 back this year. So it has worked out pretty well so far. I don't expect to spend as much next year, so we'll see. My Visa card is a straight 1% and I'm pretty sure you can beat that.
I have Chase Freedom (up to 5% cashback) and Discover (up to 3% cashback).
Unfortunately, Chase just rolled back the rewards on the Freedom card effective 8/1, so I won't be getting that $600/year in cash back anymore. Behold, the downside of Congress tightening the credit card fee regulations.
I just use my Costco AMEX everywhere and pay the balance every month. It'st not the best, but it does give you 3 percent back on GAS. I think 2 percent at Restaurants.
Paying cash without interest or annual fees is pretty rewarding.
2013 Record at games attended: 0-1
Ditto with the Chase Freedom.
One of the nice things was that you could turn 200 points into a $250 check, which for all purposes meant at least 1.25% cash back on everything. I would always wait to accumulate 200 points.
They will be closing that possibility come August. I'm very sad about that.
I also have the Citi Dividends card. It also pays 1% on everything and has 5% quarterly categories (which seem to be the same ones as the Chase Card...drat).
It is limited to $300 cash back per year.
Even with the downgrade, the Chase Freedom will still get most of my use.
And George...you will be getting a notice of the changes in the mail. I got a letter yesterday.
"A person is smart. People are dumb, panicky, dangerous animals and you know it."
http://dalmady.blogspot.com
True, it's a minority. Not sure about 'miniscule' though. Probably depends on what miniscule means to you. I'd guess around 15%-20% of credit card holders pay off their balance every month. But, this isn't the type of thread for people that carry a balance anyway. A card with a low interest rate is going to be much more important for them than any rewards.
Last edited by redsfandan; 07-27-2011 at 08:55 AM.
Rewards are the second-most sought after feature for credit cards.
First is no annual fee and third is the APR.
That said, if you are not paying your balance in full, you should be (trying to, at least).
And as dan said, if you are carrying a balance, the rewards are not your main concern.
Here are some stats (some are dated...but anyway).
"A person is smart. People are dumb, panicky, dangerous animals and you know it."
http://dalmady.blogspot.com
I don't understand why more people don't do this. I pay for at least one if not two plane tickets every year just for using my credit card. If for some reason you lack the discipline to pay off the card fine, but for most people you are just leaving something free on the table.
You are probably correct- we use a rewards card to generate 3-5% savings on a lot of purchases, all stuff we would be buying anyway like gas, groceries, etc. And we pay ours off every month, but I can't imagine the program would work for the bank if there weren't a lot of revolving debt out there.
Personally, I can't remember when I had a balance last, being an old fashioned West Sider and if memory serves correctly, in German the word for debt is the same as the word for guilt. Says a lot about the way I was raised.
Next Reds manager, second shooter. --Confirmed on Redszone.
The credit card companies and banks charge the retailer fees per transaction in exchange on letting them use their credit card system. The cost of these fees are passed on back to the consumer in sales price. People who use these cards do make out, but people who use cash are being "taxed" by the higher price paying for the fees for the credit card users getting rewards.
Here are the stats I promised
http://www.creditcards.com/credit-ca...stics-1276.php
"A person is smart. People are dumb, panicky, dangerous animals and you know it."
http://dalmady.blogspot.com
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