Cash-Back credit cards... A discussion.

[GTaudiophile]

Meh. I prefer airline mileage accounts. Typically, I earn a free international ticket every 12-28 months. That's a $800-1500 value (to Europe). More valuable to me than cash back.

 

[Svnla]

I used to have the Schwab/FIA Visa Signature CC. It was sweet, everything were 2% cash back, no annual fee, the 2% cb just went into my checking account, no need to do anything but pay off the balance in full before the due date.

Now it is gone and I am back with the Chase Freedom Visa Signature as OP and the BoA 1-2-3 Visa (1 for everything, 2 for groceries, 3 for gas). Ggggrrrrrrrrrrrrr.

Edit: If you guys want to know everything you want to know about which CC to get, read this = http://www.fatwallet.com/forums/finance/711457/ (Warning, some of these guys are hard core).

 

[Lotheron]

Discover is actually the worst when it comes to rewards outside of their categories. That's because you need to spend up to a certain $ to get the whole 1% and it resets on your card anniversary. It takes $3000 to get the full 1% cash back outside the categories. So you're basically missing out of $22.50 in cashback every year.

You automatically earn up to 1% Cashback Bonus on all your other purchases. You will earn 1% unlimited Cashback Bonus on purchases after your total annual purchases exceed $3000; purchases that are part of your first $3000 earn .25%. Warehouse purchases (those made at select warehouse clubs, wholesale distributors, discount stores and their affiliates) earn .25%. We do not include warehouse purchases or 5% category purchases in calculating your total annual purchases.

I switched to a Chase Freedom card because of this.

 

[IndyColtsFan]

Damn I didn't know the Amazon card could be used outside of Amazon. I didn't see the 10% reward either for downloadable media, wonder if that encompasses mp3s.

The Amazon VISA (as opposed to the Amazon store card) is what I'm referring to and can be used anywhere and you get rewards for all purchases per the schedule I posted.

And yes, the 10% reward for downloadable media includes anything you download from Amazon -- videos, MP3s, etc.

 

[ViviTheMage]

I miss cashback with checking accounts 🙁

 

[Blieb]

penfed > *

 

[NoCreativity]

Chase Ink, 3%-gas, home improvement, restaurants, 1% everything else, no annual fee.

Discover sucks. Not only does the full reward not kick in right away, they have to be the stingiest bastards for credit limit raises.

 

[AznAnarchy99]

I have the Chase Freedom card and I got it when their promo was $250 cash back after spending $500. Ive been using it a lot mostly for the 5% cash back on restaurants.

I have a CostCo Amex card which I get 3% cash back on gas and 2% on restaurants.

I also have my original Citi Forward card that went on points but I havent been using that as much as my Chase and Amex are on their promotional no interest for 6 months.

 

[evident]

if you like to go on vacations or travel alot, airline credit cards or hotel credit cards are a much better deal, even if there is a $50-$100 annual fee.

 

[Triumph]

Chase Ink, 3%-gas, home improvement, restaurants, 1% everything else, no annual fee.

Discover sucks. Not only does the full reward not kick in right away, they have to be the stingiest bastards for credit limit raises.

This is what I need, something that gives lots of cash back on restaurants, since I eat out alot.

I've had Citibank cash back card for 5 or 6 years, and it sucks now. It's 1% on everything, and 2% or something if you enroll in their quarterly rotating categories. Only I get a letter pretty much every other week asking me to enroll in such-and-such cash back category, even if I already enrolled in one. And I never remember what I'm enrolled in, or when it started or ended. Half the time I swear the letters don't even tell you what the category is.

I was considering dropping them for BofA's 3/2/1 deal.

 

[RearAdmiral]

Amazon Visa
PenFed 5% gas cashback

That's all I really use.

 

[Aikouka]

I saw the $300 cash back on SlickDeals, and was a little bummed that I got my Chase Freedom card during the $100 cash back deal. Although, I was planning on waiting, but the whole Steam snafu made me want to cancel my debit card, and I ended up getting it earlier than planned.

Oh well! $100 cash back is better than none I guess. 🙂

 

[RockinZ28]

Woot, got approved for the BofA Platinum Plus visa. $250 cb + 10% bonus when I deposit it into my BofA checking, after spending $500 in 3 months.

Sucks they wouldn't give me the Signature, but they assured me I'd get the cb bonus and the 3/2/1 purchase cb.

 

[Saint Nick]

Have a Discover card myself. Love it! Ditched Citi years ago. I never cancelled my Citi card, but just left it open and shredded the card.

 

[manly]

Discover is actually the worst when it comes to rewards outside of their categories. That's because you need to spend up to a certain $ to get the whole 1% and it resets on your card anniversary. It takes $3000 to get the full 1% cash back outside the categories. So you're basically missing out of $22.50 in cashback every year.



I switched to a Chase Freedom card because of this.

You're absolutely correct Discover isn't a great day-to-day card.

However it does have nice ShopDiscover merchant cash back, the rotating Get More 5% CB and a small bonus on GC redemptions makes it useful in specific cases.

 

[Capt Caveman]

Nice perk if you get the Chase Freedom card is being able to get reward points that you can either cash in for cash or purchase merchandise.

Today, Chase had a great Ultimate Rewards sale. Everything at least 25% off(including Apple) with some items over 60% off, fulfilled by BestBuy.

Picked up a Samsung 40" LED HDTV for $270 reward points(there was a 46" RCA LCD HDTV for $260).

And also got:
Sony Bluray DVD player with Google TV for $73 reward points
Sandisk 16gb USB drive for $5 reward points

 

[lothar]

PenFed
American Express Blue Cash

 

[Drekce]

Sorry - it wasn't just chase although that was a big part of it. I got $1000 from chase. My wife got$500 from them. I got $450 in gc from Amex and she got the two free round trips tickets from southwest. We don't put each other on the cards. This way I can register at southwest for new promotions and she can register at Amex. All of the t&e I have read regarding the promotions say that they consider you a new customer after 2 or 3 years of not having the card. Having a different card through the same provider will sometimes DQ you from the offer but that varies

My wife and I just did this too. $1500, and I will never pay a cent of interest to Chase. I use a USAA Amex cash back rewards card for almost all purchases; generally get about $800 a year from it, and have never paid them a dime in interest or other fees.

 

[Demo24]

I have both Discover and the chase freedom. So far I like the freedom card, and the rewards area is neat. However on discover you can now tie in your reward points straight to amazon and spend them there. Nice for me since I have about $45, so not quite enough for cash back, and not worth spending them on anything they offer.