Recommend Credit Card Rewards Cards

catsareniice1 · April 2014

I am almost paid off on my old credit cards. I don't use them anymore as they are not rewards cards and want to get rid if them. I am looking to find some great reward cards with good/great cash incentives and was wondering if you can recommend some.

How are the ones with air miles? Someone I was talking to said they are not as great as far as reimbursements.

IAmSherlocked · April 2014

I'm kind of interested to see what people say too. I have an old Citi Card that I got when I was 18 that has rewards but it's not that great (I finally had enough to spend some on airfare for our vacation a few weeks ago, but that's with me not having used any rewards since I got the dang card).

formerlyGDaisy09 · April 2014

I had someone recommend the Barclay's card that does air-miles for rewards...I don't have one, but she raved about it.

I have a LLBean Visa (run by Barclay's) I love the LLBean rewards, H wears their khaki pants and wrinkle-free shirts for work all the time. when we got a puppy all her vet expenses and gear we bought earned enough rewards to get her one of their nice dog beds for Christmas (I spoil my pets).

This board just convinced me that an Amazon card would be worth it...so far so good.

I also have a Banana Republic card...Gap stores are the only place I can find Jeans that fit me, so the rewards are nice for a "free" pair every now and then.

I use the LLBean card for all our everyday spending and bills that take credit card payments (seriously H destroys one of his shirts/pants every few months so it's nice to have the rewards to replace them)

the Amazon card whenever I'm shopping on an amazon site

and the Banana Card for Gap purchases and sometimes reimbursible work things

SmrBrd2012 · April 2014

Hmm.. I just looked up the Amazon.com credit card...I'm seriously considering getting that one now.

hoffse · April 2014

So airline miles are tricky. It does vary by airline, but you typically get the highest value out of them when traveling internationally in business class. You typically also have to spend a LOT of money on them or fly frequently to bank enough miles for free flights. Or... and I hate to say this because it's the MM board... you have to be willing to open and close cards and spend enough on them to get the incentive sign up bonuses. That's the single biggest way people who really work airline cards get points.

I think airline cards are a great idea if you fly often for business and you get reimbursed for your business travel. In that case it makes sense to earn the points and cash them out once a year for your own vacation. H and I simply don't fly often enough to get a great bang for our buck out of them, so we don't have one.

For cash cards, by the far the best everyday cash card is the Fidelity AmEx. I've literally looked for years for one better, and I haven't found anything that can beat it. The only catch to the Fidelity AmEx is you have to have a Fidelity account to link the card to. But they can be linked to brokerage accounts, Roths, 529s, or even regular checking accounts (I think), and the rewards automatically deposit whenever you get to $50. The great thing about it is it's 2% back on everything, all the time, with no limit. It's also deposited as real CASH in your account - not just a statement credit - so it can be invested, moved around, whatever.

Most of the other cash cards that give you a higher percentage back are limited to rotating categories or have spending limits on them. Fidelity has no categories or spending limits. I have actually added it up before over the course of a year, and I did earn more by getting a flat 2% on everything over something like the Chase Freedom or Chase Sapphire cards that have rotating categories with slightly higher percentages back. Maybe if I really worked the categories I could get more, but then I'm limited to shopping at certain places during certain times of the year, etc. When I'm just living life, Fidelity earns me more.

I also use store cards for places I shop often if those cards give me more than 2% back. My favorites:

Amazon - really a beautiful card. 3% back on all purchases at Amazon, and it's linked to your account. Points are also deposited into your account automatically and you can use those points to buy stuff at Amazon. The points function exactly like a gift card. If you shop there often (I do), it's worthwhile. It's a Visa, so it can be used other places too.

Target - 5% off of everything, taken at the cash register. I like this because you get rewarded immediately. No waiting for points to build up.

Costco AmEx - 4% back on gas purchases because I'm an executive member. The executive membership also gives me 2% back on all purchases made at costco (except for gas and liquor). My executive rewards usually pays for my annual costco membership, and then the gas bonus is on top of it. The gas bonus comes as a voucher once a year, but you can exchange it for actual cash at Costco (or use it as a gift card).

Pottery Barn - 10% back on all Pottery Barn or PB Kids purchases. A couple times a year they do 20% back. It's insane, and I use this primarily for wedding, baby, and holiday gifts. I also get $10 gift cards and $25 off coupons from PB on a fairly regular basis for being a cardholder. It makes PB pretty affordable.

I have several others, but they aren't as good. The ones above are the ones I use most often.

I suggest having a cash card as your default plus a store card (or two) for places you shop at frequently. As you can see, the store cards almost always have higher rewards, but they are only higher at those stores. If you have an AmEx as your primary cash card (like me), you also need to carry a Visa or a Mastercard as a back up. Most stores take AmEx but there are a few out there that don't. The Amazon card serves as my backup Visa.

formerlyGDaisy09 · April 2014

Gdaisy09 said:

I had someone recommend the Barclay's card that does air-miles for rewards...I don't have one, but she raved about it.

I have a LLBean Visa (run by Barclay's) I love the LLBean rewards, H wears their khaki pants and wrinkle-free shirts for work all the time. when we got a puppy all her vet expenses and gear we bought earned enough rewards to get her one of their nice dog beds for Christmas (I spoil my pets).

This board just convinced me that an Amazon card would be worth it...so far so good.

I also have a Banana Republic card...Gap stores are the only place I can find Jeans that fit me, so the rewards are nice for a "free" pair every now and then.

I use the LLBean card for all our everyday spending and bills that take credit card payments (seriously H destroys one of his shirts/pants every few months so it's nice to have the rewards to replace them)
the Amazon card whenever I'm shopping on an amazon site
and the Banana Card for Gap purchases and sometimes reimbursible work things

...that reminds me all these cards are all Visa cards, so I can use them where ever which is nice. Just yesterday I had to book a work trip and I literally looked at when the statements end and used the card that would have the furthest out payment due date so I'll definitely have the reimbursement when it's due (my job won't reimburse for flights/hotels until after you travel, I don't know if that's how it is everywhere).

hoffse · April 2014

I should add:

From Jan. 1 through March 31, 2014 I have earned the following on each of the 5 cards I mentioned:

Fidelity: $259 cash

Amazon: $33 in Amazon credit

Target: $21 saved at the cash register

Costco gas: $43 earned toward my annual voucher

Pottery Barn: $0 - but I only need to spend another $6 or so to earn my next $25 gift certificate. I've also gotten a $10 gift card and a $25 off coupon this year. This one always picks up during wedding season, and I'm kind of holding off on getting my next gift certificate so I can use it for wedding gifts over the summer (they expire after a few months).

Keep in mind I do have a LOT of reimbursable expenses from my employer that are required to go on my personal credit cards. However, the rewards will still accumulate, even if you don't spend as much.

catsareniice1 · April 2014

I just received an application for 1% back for all purchases. 2% back on grocery store sales, 3% back on gas charges. It's a cash reward card. Still reading through the details.

vlagrl29 · April 2014

I need to use my old navy visa this month twice so I can get a $20 reward and use it on DD for her summer clothes

I need to learn more about the Fidelity card. That sounds great to me.

ta78 · April 2014

We just got the Chase Sapphire Preferred card and so far love it. We were making a large purchase, so instead of just paying cash I wanted to take advantage of their bonus 40,000 points for spending $3000 in the first 3 months. I figured it was $400 back to me through either cash or gift cards for money we were spending anyways. They also have travel you can use it towards or transfer it to another travel reward system.

emily1004 · April 2014

There are a lot of great CC with no annual fee's where you get cash back rewards, like Barclay and Capital One. But my favorite is the Amex Platinum, yes there is a high fee, but since we travel a lot, we love the perks, rewards, and the card also has a very high limit. (you build your spending limit up over time) The catch is you have to pay it off every month.

Recommend Credit Card Rewards Cards

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