Best Credit Card?

[Speaks]

Man, I have to ask.
As someone that tries to never use credit cards. Why not pay yourself back?
I just feel like its a scam to use a CC for cash back or frequent miles whatever they are offering.
I will use the zero percent financing and pay it off in time.
Why not toss a hundred or two in some sort of high earning savings account?
Open an IRA?
Too many better options than making payments for "cashback".
Just my opinion here.

If you pay off balance in full every month you get the cash back and dont pay any interest.

Aside from my personal spending I put all my business travel expenses on a personal card and get reimbursed so I make sure I get the points / chash back. Its something like $100k a year in expenses so whatever rewards I get are more or less free money. I also have so many airline miles banked that my wife and I could fund 3 pairs of round trip tickets to Europe first class.

 

[SWFLhntr]

Love the Delta Platinum Amex. Gives me a reason to go travel and hunt. I get 2 bags free, guns travel free, companion ticket pays for the fee basically. Makes me not have the urge to fly Spirit
Also have the Costco Citibank. Get $1,000/year back for doing nothing.

Used CC’s to rotate through ~$18k in CC debt after the 2008 financial crash. Would do balance transfers for a couple percent and then got a couple years with no interest on that balance. Saved a fortune and wife and I ended up woth 850 credit scores 6 years later lol.

 

[sreyemj]

never had any issues with my citi double cash. effectively 2% cash back. i pay all my bills with it and pay it off each friday, just to rack up the rewards cash.

Same.

 

[Roosterstraw]

The US smartly visa is 4% if you have 100k in their savings account.


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Do you get interest on the 100k? If not that’s a terrible deal. You could put the 100k in a money market account or HYSA and make 4.2%. Then get a CC that gives you 2% cash back.

 

[dirtytough]

The US smartly visa is 4% if you have 100k in their savings account.


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It doesn’t have to be in their savings account. You get it if you have $100k in their brokerage account also.

Do you get interest on the 100k? If not that’s a terrible deal. You could put the 100k in a money market account or HYSA and make 4.2%. Then get a CC that gives you 2% cash back.

See above.

 

[SloppyJ]

It doesn’t have to be in their savings account. You get it if you have $100k in their brokerage account also.

See above.

Solid deal. Thank you for sharing. Need to check into their investment accounts now.

 

[eddielasvegas]

I have been using a Wells Fargo Active Cash Visa for about 3 years and love it due to its simlple cash back rule. I charged everything, and I mean everything, if the amount is over a $1 and they take Visa. I never carry a balance.

The cash back promotion is simple: 2% cash back accross the board. Last year I earned over $1,000 in CB. Don't usually earn that much back but last year had some unusual charges of about $15-20k that will not repreat.

The US Bank Smartly Savings account currently pays ~3.5% APY on the $100k in case anyone is wondering.

That card/account has potential IMO and I'll look into this year at some point.


Eddie

 

[displacedtexan]

So I'm gonna go against the grain here and piss on the parade a bit....
NOTHING is free...All you guys going on about points and earn back must have never owned/run a small business and see how much those fees cost merchants every month.
No business "absorbs" those processing fees just for you to have the convenience of swiping a card instead of bringing cash or a check. They ALWAYS get passed back to the consumer in the form of higher prices or more recently an upfront charge of an additional 3-5% to use a credit card.
Get used to that up front charge for not carrying cash, its gaining more and more traction. We are contemplating taking that route with our business...We pay tens of thousands a year just for people's convenience of swiping a card...like every business expense, that factors into what we charge.
Long of it short, you feel like your getting rewards and 'Cash back'....but your really just paying for it yourself through inflating costs of goods and services your buying with that card, you just dont see it to know that so you think your getting something for "free"....just something to think on.
That being said, I have multiple cards but use them as sparingly as possible and certain occasions like when the cash option isn't available such as online shopping, or when out of town and don't want to carry much cash.

Credit cards are the devil...but unfortunately a necessary evil in what our society/economy has become

I ain't walking myself into the station to buy fuel.