[l008com]

I'm looking for a credit card that gives me decent rewards.

I already have an AMEX card that gives me 5% on gas, cell bill and office supplies, and 1% on everything else. So I'm looking for a mastercard or visa, for everyplace that doesn't take amex. There is a fidelity card that gives you 1.5% cash back into a fidelity account. So far that is my likely choice. I have a GM card that gives me 5% cash back, but they now limit how much you can put into a new car. Most cars are only $1000 and I already have way more than that saved up, plus my last 3 cars have been mazda, acura, mazda. So that doesn't do me very good. If mazda had a card that would give me 3%+ back, that would be perfect. I'd be passing a LOT of money through that card and my lease payment would be watered waaaay down.

So basically, I'm wondering if anyone knows of any Mastercards or Visa cards that give more than 2%, and gives it in a way I can actually use it (cash, investments, or towards a car I'm actually going to buy).

Even the fidelity card, with its 1.5%, is still more than the 'everything else' rate on the amex. So if I don't find anything better, I'll just get that card, set up some investment account, and use the fidelity card for everything BUT gas and my cell phone bill.

[Kevin]

I know my ex used to get back tons of money from her Discover card being that she payed off the balance every month.

[RAILhead]

(even though, statistically, people spend 18% more when using credit as opposed to cash -- and if you were to quit overspending (in relation to cash), you could have up to 18% to invest in whatever you so choose, rather than a paltry 1% or 2%)

/just sayin', statistically speaking

[Railroader]

Originally Posted by RAILhead 

(even though, statistically, people spend 18% more when using credit as opposed to cash -- and if you were to quit overspending (in relation to cash), you could have up to 18% to invest in whatever you so choose, rather than a paltry 1% or 2%)

/just sayin', statistically speaking

That's crazy talk.

[l008com]

Yeah that is crazy talk. Also, Kevin, I already have an amex card, what I need is a visa/master card. Everyone takes visa/mastercard, not everyone takes discover/amex. Plus I've yet to see a discover card that gives more than what my amex is giving.

Here I'll focus this thread a little, the point is:

Anyone know any good Visa/Mastercard Rewards cards?

[Nodnarb]

I'd check out Chase's visa selection. I've got a Chase Freedom card, and i get something like 1% on everything and 3% on gas/food/etc. ... Don't know all the details off hand, but I'd check out their website.

[imitchellg5]

My mom and dad get air miles from Frontier with their Visas. It works out nicely, we get enough points to fly our best friends down twice a year. We put almost everything on them and pay them off every month. We even put the down payment on the Xterra on one (which was good for a ticket).

[SVass]

I used to get a real 1% plus a one year warranty extension and now I only get the warranty plus a price cut on purchases from certain merchants like Home Depot, Sears, or certain airlines from my Credit Union. sam

[Person Man]

Originally Posted by RAILhead 

(even though, statistically, people spend 18% more when using credit as opposed to cash -- and if you were to quit overspending (in relation to cash), you could have up to 18% to invest in whatever you so choose, rather than a paltry 1% or 2%)

/just sayin', statistically speaking

Yes. Statistically speaking.

But individuals can still be prudent users of credit cards without spending any more money than what statistics say.

My uncle and I are good examples of this. We both use rewards cards for just about everything. (I used to use my debit card everywhere, now it gets used when I don't have my credit card with me or for ATM withdrawals).

Both my uncle and I don't spend any more than we otherwise would if we were paying with cash. And I do take cash into stores where I know I would end up spending more than I would otherwise if I were using my cards... AND I leave my debit card and credit card home when I do this. (Because even with my debit card it's easy to go over the spending limit).

Neither of us has had to pay any interest or any late fees or any sort of fees. Ever. Not in the 40 years he's been using credit cards, and not in the 8 years I've been using them. And yes, I realize that we're both exceptions to the rule.

[cjrivera]

If you shop amazon.com a lot, their credit card isn't too bad.
$30 off your first purchase from them.
3% back on all purchases from Amazon & 1% from other places. (3 points per dollar spent at Amazon... after 2500 points you get a $25 gift certificate)

I usually buy my Macs from there. They usually have free shipping, no tax, $50-100 off their Macs through a mail in rebate, and if you buy a $1000 computer, you get another $25 GC back


I use a Shell card for gas purchases as you get 5% back on all gas purchases from them.

[macroy]

Credit Cards - Compare Credit Card Offers at CreditCards.com

[Patrick]

Originally Posted by l008com 

There is a fidelity card that gives you 1.5% cash back into a fidelity account. So far that is my likely choice.

I have this card. The way it works is through a points system (WorldPoints, to be specific). For every 5000 points earned, I can get a $75 direct deposit into an individual account I have with Fidelity. Supposedly the idea is to encourage people to invest the money, but cash back is cash back.

[l008com]

I found that chase card. So the way I'll probably do it is this:

Amex: 5% on Gas & Wireless (and office supplies but I don't buy much at all)
Chase: 3% on Food
Fidelity Visa: 1.5% on everything else.

Patrick, $1 = 1 point, $75 ÷ 5000 = 1.5% :-D

I checked out the amazon card, but I do more buying from NewEgg lately. My amex card is a small business card, it would be great if they added restaurants to the 5% category! Then I could forget about the chase card and just have an Amex and a visa.

Also Patrick, can you set up the Fidelity card to automatically deposit the $75 into your account, or do you have to log into the web site and manually 'redeem' your points every time like you do with the Discover cards?

[l008com]

Oooh that chase card also gives 3% cash back on home improvement and hardware stores. Thats cool, I like to build things :-)

[Chuckit]

Originally Posted by RAILhead 

(even though, statistically, people spend 18% more when using credit as opposed to cash -- and if you were to quit overspending (in relation to cash), you could have up to 18% to invest in whatever you so choose, rather than a paltry 1% or 2%)

/just sayin', statistically speaking

Actually, you could have up to 20% to invest — keep using the card and stop overspending!

[Patrick]

Right, see I didn't show the math in my post because I thought it was obvious.

I mentioned the 5000 to imply that you have to build up your points before you see any cash back. Supposedly there are cards nowadays that don't have this requirement, though I might be imagining things. In this day and age, it's not a ton of money anyway.

I do have to redeem the points manually. The first time, I had to provide a routing number or account number (was a while ago, I've forgotten) so they could do a direct deposit. The credit card is administered by a separate company, FIA Card Services, and they aren't set up do automatic transfers.

[l008com]

Originally Posted by Patrick 

Right, see I didn't show the math in my post because I thought it was obvious.

You seemed to be disagreeing with the 1.5%, which is why I worked it out

[Kvasir]

Before you apply for any given card, you might want to do some google searches to check out the card issuers record on security. Just a thought these days - Chase does not have a stellar record of safeguarding card holders' personal/indentity information. Not that other banks and companies don't have even worse records, but it is something to consider. Also read the fine print about liability and such too. In these days, when absolutely noone ever seems to actually check your signature (and often does not even require a signature), identity security with plastic consumerism is something to consider.

Also note that you want to maintain a balance in how many open revolving credit accounts you have showing on your credit record. Too many can reduce your credit score, while having a few (and ALWAYS paying on time, even if not clearing balances, do NOT pay late or miss payments) is good. Also keep your oldest card active, even if you stop using it, as creditors like to see a lengthy history of good standing with someone on your credit history.

P.S. One nice thing about Discover, is there online features. They have a very easy to use procedure for generating pseudo-card numbers for online purchases. The online store never actually has knowledge of your real Discover Card number, just a randomly generated pseudo-number that Discover's system can link back to your card when the charge request comes in to them from the seller.

[Uncle Skeleton]

Originally Posted by Kvasir 

Also note that you want to maintain a balance in how many open revolving credit accounts you have showing on your credit record. Too many can reduce your credit score

I agree with everything else you've said, but I think this is false. More open accounts will never lower your score; it may raise your score if you have any balances, by lowering your overall utilization.

Of course, if you're weak willed, then having too many open accounts can lower your score by tempting you to spend more than you can afford...

[Kvasir]

Originally Posted by